301 Colvin Ave · Buffalo, NY 14216

$364,900

6 bd · 2.5 ba · 2,660 sqft · MultiFamily public records · 8 Days on market

Built 1921 5,833 sqft lot $137/sqft · 53% below area

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +18.4/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Livability +3.9/5.0
• 1% rule +3.7/10.0
• Rent growth +3.4/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Turnkey Buffalo Double- Steps from Hertel Ave! Prime North Buffalo location just steps from everything Hertel Avenue has to offer- some of the best dining, shopping, and nightlife the city has to give! Proudly owned and lovingly maintained by the same family since it was built, this well-cared for income-producing double features two solid, reliable tenants already in place and a long list of meaningful updates, making it a true turnkey opportunity for investors or owner-occupants alike. The upper unit shines with refinished hardwood floors, a brand-new central A/C system an updated bathroom, and two private outdoor spaces-a charming covered front porch and a rear porch accessible directly

Key facts

• Renovated kitchen
• New drain tiles
• Bonus flex room

Tags

• TWO PRIVATE OUTDOOR SPACES
• UPDATED BATHROOM
• BONUS FLEX ROOM
• RENOVATED KITCHEN
• NEW DRAIN TILES
• UPGRADED ELECTRICAL SYSTEM

Property features AI

Finance

• Other: Lot is approximately 0.1339 acres
• Financial info: Multifamily property with 2 total units; Separate utility meters for each unit (2 gas, 2 electric); Operating expenses include maintenance and water/sewer; Owner pays trash collection and water; rent (where applicable) includes trash collection and water

Exterior

• Parking: Detached or attached garage with 2 spaces (garage present); Two or more parking spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Resale property; Wood siding construction; Rectangular residential lot on a city street (lot dimensions approx. 33 x 175)
• Construction: Wood siding; Existing structure (year built: existing); 2 stories total
• Exterior features: Awning(s); Balcony; Fence (partial); Covered porch

Interior

• Kitchen: Gas water heater (appliance listed)
• Bedrooms: 2-unit property (multifamily) — bedroom counts per unit not specified
• Flooring: Hardwood; Varies by area
• Bathrooms: 2 full bathrooms (total)
• Heating & cooling: Gas forced air heating; Central air and wall unit cooling
• Interior features: Natural woodwork; Hardwood and varied flooring; Full basement
• Laundry & utility: Separate gas and electric meters (one for each unit)

What this means for you Summary

Snapshot

• This is a 6-bed/2.5-bath multifamily listed at $365k.

Deal economics

• At list price, monthly cash flow is $339 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $318k (12.9% below list).
• Recommended offer: $318k (12.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#195 in NY, #3,011 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: crime F, employment D-.
• Buffalo City School District (urban): math 41% / reading 40% proficiency, ranked #535 of 590 in NY (top 91%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: International School (math 8% / reading 17%, grade F, #2,048 of 2,108 statewide, top 97%, 981 students, 92% FRL); Hutchinson Central Technical High School (math 96% / reading 32%, grade B-, #807 of 1,100 statewide, top 73%, 1,175 students, 78% FRL).
• Market conditions: Rents rising (+3.6%/yr); 91 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,179/mo this rent would consume 55% of the median local household income ($70k/yr) (locally 1831% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $317,900 (12.9% below list)

Questions for the listing agent

1. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.87% ✗
• Cap rate: 7.41%
• Cash-on-cash: 3.98%
• DSCR: 1.18
• GRM: 9.6

CMA / ARV

• ARV (median comp): $771,037
• List price: $364,900
• Delta: -52.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
310 Colvin Ave	0.04mi	6/2.0	2,829 (+6%)	1mo	$367,000	$130	85
190 Commonwealth Ave	0.20mi	6/2.0	2,672 (+0%)	4mo	$310,000	$116	85
246 Crestwood Ave	0.22mi	6/3.0	2,665 (+0%)	7mo	$430,000	$161	82
24 Lovering Ave	0.25mi	6/2.0	2,716 (+2%)	4mo	$340,000	$125	79
415 Colvin Ave	0.22mi	6/2.0	2,738 (+3%)	8mo	$360,000	$131	77
32 Sterling Ave	0.37mi	6/3.0	2,662 (+0%)	7mo	$470,300	$177	75
1164 Hertel Ave	0.34mi	5/3.0 (-1)	2,702 (+2%)	2mo	$420,000	$155	73
162 N Park Ave	0.13mi	6/2.0	2,876 (+8%)	8mo	$407,500	$142	72
12 Lovering Ave	0.25mi	6/2.0	2,876 (+8%)	5mo	$294,000	$102	69
131 Tacoma Ave	0.49mi	6/2.0	2,808 (+6%)	3mo	$330,000	$118	63
21 Sterling Ave	0.40mi	6/2.0	2,910 (+9%)	2mo	$441,000	$152	62
292 Hartwell Rd	0.45mi	6/2.0	2,446 (-8%)	7mo	$355,000	$145	58

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.65% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.65×
• Total profit: $-35,611
• Equity at exit: $54,408

10-year hold

• IRR: 0.7%
• Equity multiple: 1.05×
• Total profit: $4,817
• Equity at exit: $31,550

Cash invested: $102,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 14216

• Rents YoY: 3.6%
• Active inventory: 91
• Price-to-rent: 19.1×

Monthly cashflow live

• Estimated rent: $3,179 high
• Mortgage (P&I): −$1,914
• Tax from tax record: −$107 /mo · $1,281/yr
• Insurance: −$152
• HOA: −$0
• Vacancy / Maint / Mgmt: −$668
• Net cashflow: $339

Break-even live

Break-even rent $2,750

Max offer price $364,900

Occupancy floor 84%

Sensitivity live

Price	-10% $546	-5% $442	+0% $339	+5% $236	+10% $132
Rent	-10% $88	-5% $213	+0% $339	+5% $465	+10% $590
Rate	-1.0pp $523	-0.5pp $432	base $339	+0.5pp $244	+1.0pp $148

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,178
Total (2 units)			$3,179

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $91,225
• Closing costs: $10,947
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-05-14
   listed $364,900 Active 1779-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $1,281 · $107/mo
• Projected year-2 tax: $3,724 · $310/mo
• Expected delta: +$2,443/yr (+$204/mo · 190.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,148
• − Mortgage interest: −$20,440
• − Property taxes: −$1,281
• − Insurance: −$1,824
• − Repairs & maintenance: −$3,052
• − Management: −$3,052
• − Depreciation: −$10,615
• Taxable loss: −$2,117
• Est. tax savings @ 24.0%: +$508
• After-tax cash flow: $4,576/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Buffalo City School District
• NCES district ID: 3605850
• Math proficiency: 41% ▲ 11.00%
• Reading proficiency: 40% ▲ 7.00%
• Median HH income: $31,665
• Composite: 33.17/100
• National rank: #5544
• State rank: #535 of 590 in NY

Livability — Buffalo

• Score: 77/100
• State rank: #195
• US rank: #3011

Category grades

Amenities A Commute A+ Cost of living A Crime F Employment D- Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Buffalo, NY
• County: Erie County · 714,559 people
• City population: 440,021
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 22,849
• Household income: $69,629
• Rent vs Own: 54.4% rent · 45.6% own
• Severe rent burden: 1831.0

Population outlook (Erie County) Hauer SSP2

• Today (2025): 933,037 people
• By 2030: 935,181 · +0.2%
• By 2040: 928,531 · -0.5%
• By 2050: 905,725 · -2.9%
• By 2075: 834,037 · -10.6%
• By 2100: 708,033 · -24.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 16% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 10% Iranian 2% Lithuanian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 90% English-only · Spanish 5% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Erie

• 2024 margin: Lean D (+9.7) · D 54.8% · R 45.2%
• 2008→2024 swing: -7.9pp toward R · 2008: 17.5pp · 2024: 9.7pp
• All cycles: 2024: D+9.7 2020: D+14.7 2016: D+4.8 2012: D+15.6 2008: D+17.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -264.53%
• Current HPI: 421.1138
• Rent YoY: ▲ 3.65%
• Metro: Buffalo-Cheektowaga, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

2 events — show timeline

• 2026-05-22 Pending — WNYREIS
• 2026-05-14 Listed $364,900 WNYREIS

Property tax history

+6.3%/yr

Latest (2025): $1,281 · +27.7% YoY. Source: county tax records.