67 Harvard Pl · Buffalo, NY 14209

$925,000

8 bd · 3.0 ba · 5,471 sqft · MultiFamily public records · 98 Days on market

Built 1930 0.29 ac lot $169/sqft · at area comps Est $904k · at est.

---

Why this score? — see what drove the C 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 +19.6/30.0
• ARV discount +6.5/15.0
• DSCR +6.2/10.0
• Appreciation +5.9/10.0
• Rent growth +4.6/5.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Investors galore. Completely redone from the top to bottom. Right in the heart of Canisius College. Six unit, fully furnished. Beautiful high-end leather, washer, dryer, all your toiletries, bring nothing. Additional lot next-door included. Large garage in the rear. Storage space for each tenant in the basement. Don’t let this one go. Owner will hold note!!

Key facts

• Large garage
• Completely redone
• Fully furnished

Tags

• COMPLETELY REDONE
• FULLY FURNISHED
• ADDITIONAL LOT INCLUDED
• LARGE GARAGE
• STORAGE SPACE FOR EACH TENANT

What this means for you Summary

Snapshot

• This is a 6 × 1-bed/1-bath units multifamily listed at $925k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $179/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $824k (10.9% below list).
• Recommended offer: $824k (10.9% 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.
• Market conditions: Rents rising fast (+8.5%/yr); 56 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $8,245/mo this rent would consume 198% of the median local household income ($50k/yr) (locally 959% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $24k of equity ($6k loan paydown + $17k appreciation (1.9% local appreciation)).
• At projected returns (1.9% appreciation + 8.0% rent growth), your $259k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($842k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $175k; list at $925k implies a 429% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $824,500 (10.9% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.89% ✗
• Cap rate: 7.68%
• Cash-on-cash: 4.97%
• DSCR: 1.22
• GRM: 9.3

CMA / ARV

• ARV (median comp): $904,367
• List price: $925,000
• Delta: 2.28%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37 Inwood Pl	0.56mi	8/4.0	5,696 (+4%)	2mo	$590,000	$104	61

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

Projected returns pro-forma

1.86% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 11.8%
• Equity multiple: 1.65×
• Total profit: $168,351
• Equity at exit: $357,986

10-year hold

• IRR: 17.3%
• Equity multiple: 3.53×
• Total profit: $655,311
• Equity at exit: $510,289

Cash invested: $259,000 (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 14209

• Home prices YoY: 0.4%
• Rents YoY: 8.5%
• Active inventory: 56
• Price-to-rent: 56.1×

Monthly cashflow live

• Estimated rent: $8,245 high
• Mortgage (P&I): −$4,851
• Tax from tax record: −$206 /mo · $2,466/yr
• Insurance: −$385
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,731
• Net cashflow: $1,072

Break-even live

Break-even rent $6,888

Max offer price $925,000

Occupancy floor 82%

Sensitivity live

Price	-10% $1,595	-5% $1,334	+0% $1,072	+5% $810	+10% $548
Rent	-10% $420	-5% $746	+0% $1,072	+5% $1,398	+10% $1,723
Rate	-1.0pp $1,538	-0.5pp $1,307	base $1,072	+0.5pp $832	+1.0pp $588

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

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$8,244
Total (6 units)			$8,245

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: $231,250
• Closing costs: $27,750
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-02-20
   listed $925,000 Active 365-char remark

   Show marketing remark (365 chars)

   Investors galore. Completely redone from the top to bottom. Right in the heart of Canisius College. Six unit, fully furnished. Beautiful high-end leather, washer, dryer, all your toiletries, bring nothing. Additional lot next-door included. Large garage in the rear. Storage space for each tenant in the basement. Don’t let this one go. Owner will hold note!!

2. 2025-12-06
   historical $1,800
3. 2025-11-14
   historical
4. 2025-07-31
   listed $1,800
5. 2025-07-16
   price $925,000
6. 2025-06-26
   historical $1,800
7. 2025-04-23
   historical $1,800
8. 2025-02-20
   price $999,900
9. 2025-02-14
   listed $1,800
10. 2025-02-14
    listed $2,000
11. 2024-11-15
    listed $1,200,000 Active
12. 2018-03-07
    soldstatus $175,000 Closed Sale or Rented
13. 2018-03-07
    soldstatus $175,000
14. 2018-02-27
    historical Continue to Show- Under Contract
15. 2018-01-16
    status Under Contract- Do Not Show
16. 2017-12-21
    price $159,900
17. 2017-10-06
    price $180,000
18. 2017-08-14
    price $220,000
19. 2017-07-24
    price $249,900
20. 2017-07-24
    listed $244,900 Active

ⓘ 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: $2,466 · $206/mo
• Projected year-2 tax: $9,049 · $754/mo
• Expected delta: +$6,583/yr (+$549/mo · 267.0%)

ⓘ 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 ≥91°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: $98,940
• − Mortgage interest: −$51,814
• − Property taxes: −$2,466
• − Insurance: −$4,625
• − Repairs & maintenance: −$7,915
• − Management: −$7,915
• − Depreciation: −$26,909
• Taxable loss: −$2,705
• Est. tax savings @ 24.0%: +$649
• After-tax cash flow: $13,511/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): 8,313
• Household income: $50,046
• Rent vs Own: 66.3% rent · 33.7% own
• Severe rent burden: 959.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Black 30% Hispanic / Latino 11% Two or more races 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 6% Dominican 1%
• Common ancestry: Romanian 6% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 9% · Canada, Dominican Republic, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 2% French/Haitian/Cajun 2%

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: ▲ 1.86%
• Current HPI: 443.9414
• Rent YoY: ▲ 8.53%
• 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

+277.7% since first listed

20 events — show timeline

• 2026-02-20 Listed $925,000 WNYREIS
• 2025-12-06 Rental Removed $1,800 WNYREIS
• 2025-11-14 Listing Removed — WNYREIS
• 2025-07-31 Listed for Rent $1,800 WNYREIS
• 2025-07-16 Price Changed $925,000 WNYREIS
• 2025-06-26 Rental Removed $1,800 WNYREIS
• 2025-04-23 Rental Removed $1,800 WNYREIS
• 2025-02-20 Price Changed $999,900 WNYREIS
• 2025-02-14 Listed for Rent $1,800 WNYREIS
• 2025-02-14 Listed for Rent $2,000 WNYREIS
• 2024-11-15 Listed $1,200,000 WNYREIS
• 2018-03-07 Sold (Public Records) $175,000 Public Records
• 2018-03-07 Sold (MLS) $175,000 WNYREIS
• 2018-02-27 Contingent — WNYREIS
• 2018-01-16 Pending — WNYREIS
• 2017-12-21 Price Changed $159,900 WNYREIS
• 2017-10-06 Price Changed $180,000 WNYREIS
• 2017-08-14 Price Changed $220,000 WNYREIS
• 2017-07-24 Price Changed $249,900 WNYREIS
• 2017-07-24 Listed $244,900 WNYREIS

Property tax history

+39.4%/yr

Latest (2025): $2,466 · +0.0% YoY. Source: county tax records.