34 Delham Ave · Buffalo, NY 14216

$419,900

6 bd · 2.0 ba · 3,318 sqft · MultiFamily public records · 7 Days on market

Built 1930 5,265 sqft lot $127/sqft · 39% below area Est $686k · 39% under

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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 +18.5/30.0
• ARV discount +15.0/15.0
• 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 MLS

Discerning Buyers Will Want This 3/3 Double on a Classic North Buffalo Street of Custom Designed Homes from the 1930s! Spacious Over-sized Rooms, Lots Of Windows, Authentic Architectural Details , Elegant Orig Fireplaces (NRTC); Abundance of Storage; Move in Condition Due To Years of Gentle Use & Good Maintenance; Updates: House Roof 2012; Garage Roof 2011; Back Door 2015;1 HWT Tank 2017;Full Dry Basement, Walk Up Attic; Partially Fenced Yard With 2 Car Garage w Openers; Live Smart & Live Well. .. .Enjoy Convenient Shopping on Delaware & Meals @ Iconic Buffalo restaurant . .. Olivers . .. right on the Corner! Good But Gentle City Living & Location! Showing Start June 15th 1:00 Open house. Offers if any will be reviewed June 19th 2019.

Key facts

• 5,265 sq ft lot
• 2 garage spots
• Built 1930

Tags

• PARTIALLY FINISHED THIRD FLOOR
• MAINTENANCE FREE EXTERIOR
• LARGE GARAGE WITH POWER
• DRY BASEMENT IDEAL FOR STORAGE

Property features AI

Finance

• Financial info: Water is paid by owner; water is included in rent; One unit reported current rent of $1,350; Operating expenses: See remarks

Exterior

• Parking: Attached garage with approximately 2.5 garage spaces; Concrete parking; Two or more parking spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story multi-family building; Resale property; Brick, frame and vinyl siding construction
• Construction: Brick, frame and vinyl siding exterior; Existing (previously built) structure
• Exterior features: Near public transit; Rectangular, residential lot; City street frontage; Lot dimensions approximately 39 x 135

Interior

• Kitchen: Gas water heater
• Bedrooms: Two 3-bedroom units (each unit includes a formal dining room, living room, and porch)
• Flooring: Carpet; Hardwood; Tile; Vinyl; Varies
• Bathrooms: Each unit has 1 full bathroom (total 2 full bathrooms)
• Heating & cooling: Gas heating; Forced air; Hot water/radiator heating
• Interior features: Full basement
• Laundry & utility: Separate gas and electric meters for units (2 each)

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $420k.

Deal economics

• At list price, monthly cash flow is $398 ($5k/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 $366k (12.9% below list).
• Recommended offer: $366k (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.
• Market conditions: Rents rising (+3.6%/yr); 88 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,659/mo this rent would consume 63% 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 $13k of value loss. Plan a longer hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 7y 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.

Risks & watch-outs

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

Recommended offer $365,900 (12.9% below list)

Questions for the listing agent

1. Built in 1930 — 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. 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.
5. 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.
6. 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: 7.43%
• Cash-on-cash: 4.06%
• DSCR: 1.18
• GRM: 9.6

CMA / ARV

• ARV (median comp): $685,509
• List price: $419,900
• Delta: -38.75%
• 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
34 Delham Ave	0.00mi	6/2.0	3,318 (0%)	0mo	$485,000	$146	100
60 Delham Ave	0.05mi	6/2.0	3,340 (+1%)	2mo	$471,000	$141	95
64 Delham Ave	0.06mi	6/2.0	3,068 (-8%)	1mo	$375,000	$122	84
333 Grote St	0.65mi	6/3.0	3,478 (+5%)	4mo	$80,000	$23	55
903 Amherst St	0.24mi	5/3.0 (-1)	2,851 (-14%)	5mo	$300,000	$105	52
12 Lovering Ave	0.47mi	6/2.0	2,876 (-13%)	5mo	$294,000	$102	52
331 Bedford Ave	0.57mi	6/2.0	2,941 (-11%)	10mo	$365,000	$124	46
88 Rugby Rd	0.52mi	6/2.0	2,876 (-13%)	9mo	$380,000	$132	46
310 Colvin Ave	0.63mi	6/2.0	2,829 (-15%)	0mo	$367,000	$130	46
21 Sterling Ave	0.73mi	6/2.0	2,910 (-12%)	2mo	$441,000	$152	44
162 N Park Ave	0.73mi	6/2.0	2,876 (-13%)	7mo	$407,500	$142	38
72 N Park Ave	0.62mi	6/3.0	2,824 (-15%)	8mo	$305,000	$108	36

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: -9.4%
• Equity multiple: 0.66×
• Total profit: $-40,477
• Equity at exit: $62,608

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $6,617
• Equity at exit: $36,305

Cash invested: $117,572 (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: 88
• Price-to-rent: 19.1×

Monthly cashflow live

• Estimated rent: $3,659 high
• Mortgage (P&I): −$2,202
• Tax from tax record: −$116 /mo · $1,387/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$768
• Net cashflow: $398

Break-even live

Break-even rent $3,155

Max offer price $419,900

Occupancy floor 84%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,658
Total (2 units)			$3,659

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: $104,975
• Closing costs: $12,597
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-03
   status Pending 1298-char remark
2. 2026-04-26
   listed $419,900 Active 1298-char remark
3. 2025-11-07
   historical
4. 2025-10-08
   listed $429,900 Active
5. 2019-08-02
   soldstatus $317,000 Closed Sale or Rented

   Show marketing remark (776 chars)

   Discerning Buyers Will Want This 3/3 Double on a Classic North Buffalo Street of Custom Designed Homes from the 1930s! Spacious Over-sized Rooms, Lots Of Windows, Authentic Architectural Details , Elegant Orig Fireplaces (NRTC); Abundance of Storage; Move in Condition Due To Years of Gentle Use & Good Maintenance; Updates: House Roof 2012; Garage Roof 2011; Back Door 2015;1 HWT Tank 2017;Full Dry Basement, Walk Up Attic; Partially Fenced Yard With 2 Car Garage w Openers; Live Smart & Live Well. .. .Enjoy Convenient Shopping on Delaware & Meals @ Iconic Buffalo restaurant . .. Olivers . .. right on the Corner! Good But Gentle City Living & Location! Showing Start June 15th 1:00 Open house. Offers if any will be reviewed June 19th 2019.

6. 2019-08-02
   soldstatus $317,000

   Show marketing remark (776 chars)

   Discerning Buyers Will Want This 3/3 Double on a Classic North Buffalo Street of Custom Designed Homes from the 1930s! Spacious Over-sized Rooms, Lots Of Windows, Authentic Architectural Details , Elegant Orig Fireplaces (NRTC); Abundance of Storage; Move in Condition Due To Years of Gentle Use & Good Maintenance; Updates: House Roof 2012; Garage Roof 2011; Back Door 2015;1 HWT Tank 2017;Full Dry Basement, Walk Up Attic; Partially Fenced Yard With 2 Car Garage w Openers; Live Smart & Live Well. .. .Enjoy Convenient Shopping on Delaware & Meals @ Iconic Buffalo restaurant . .. Olivers . .. right on the Corner! Good But Gentle City Living & Location! Showing Start June 15th 1:00 Open house. Offers if any will be reviewed June 19th 2019.

7. 2019-07-18
   status Pending Sale

   Show marketing remark (776 chars)

   Discerning Buyers Will Want This 3/3 Double on a Classic North Buffalo Street of Custom Designed Homes from the 1930s! Spacious Over-sized Rooms, Lots Of Windows, Authentic Architectural Details , Elegant Orig Fireplaces (NRTC); Abundance of Storage; Move in Condition Due To Years of Gentle Use & Good Maintenance; Updates: House Roof 2012; Garage Roof 2011; Back Door 2015;1 HWT Tank 2017;Full Dry Basement, Walk Up Attic; Partially Fenced Yard With 2 Car Garage w Openers; Live Smart & Live Well. .. .Enjoy Convenient Shopping on Delaware & Meals @ Iconic Buffalo restaurant . .. Olivers . .. right on the Corner! Good But Gentle City Living & Location! Showing Start June 15th 1:00 Open house. Offers if any will be reviewed June 19th 2019.

8. 2019-06-20
   status Under Contract- Do Not Show

   Show marketing remark (776 chars)

   Discerning Buyers Will Want This 3/3 Double on a Classic North Buffalo Street of Custom Designed Homes from the 1930s! Spacious Over-sized Rooms, Lots Of Windows, Authentic Architectural Details , Elegant Orig Fireplaces (NRTC); Abundance of Storage; Move in Condition Due To Years of Gentle Use & Good Maintenance; Updates: House Roof 2012; Garage Roof 2011; Back Door 2015;1 HWT Tank 2017;Full Dry Basement, Walk Up Attic; Partially Fenced Yard With 2 Car Garage w Openers; Live Smart & Live Well. .. .Enjoy Convenient Shopping on Delaware & Meals @ Iconic Buffalo restaurant . .. Olivers . .. right on the Corner! Good But Gentle City Living & Location! Showing Start June 15th 1:00 Open house. Offers if any will be reviewed June 19th 2019.

9. 2019-06-11
   listed $299,900 Active

   Show marketing remark (776 chars)

   Discerning Buyers Will Want This 3/3 Double on a Classic North Buffalo Street of Custom Designed Homes from the 1930s! Spacious Over-sized Rooms, Lots Of Windows, Authentic Architectural Details , Elegant Orig Fireplaces (NRTC); Abundance of Storage; Move in Condition Due To Years of Gentle Use & Good Maintenance; Updates: House Roof 2012; Garage Roof 2011; Back Door 2015;1 HWT Tank 2017;Full Dry Basement, Walk Up Attic; Partially Fenced Yard With 2 Car Garage w Openers; Live Smart & Live Well. .. .Enjoy Convenient Shopping on Delaware & Meals @ Iconic Buffalo restaurant . .. Olivers . .. right on the Corner! Good But Gentle City Living & Location! Showing Start June 15th 1:00 Open house. Offers if any will be reviewed June 19th 2019.

ⓘ 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: $1,387 · $116/mo
• Projected year-2 tax: $4,242 · $353/mo
• Expected delta: +$2,855/yr (+$238/mo · 205.8%)

ⓘ 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: $43,908
• − Mortgage interest: −$23,521
• − Property taxes: −$1,387
• − Insurance: −$2,100
• − Repairs & maintenance: −$3,513
• − Management: −$3,513
• − Depreciation: −$12,215
• Taxable loss: −$2,340
• Est. tax savings @ 24.0%: +$562
• After-tax cash flow: $5,338/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

+61.7% since first listed

10 events — show timeline

• 2026-06-12 Sold (MLS) $485,000 WNYREIS
• 2026-05-03 Pending — WNYREIS
• 2026-04-26 Listed $419,900 WNYREIS
• 2025-11-07 Listing Removed — WNYREIS
• 2025-10-08 Listed $429,900 WNYREIS
• 2019-08-02 Sold (Public Records) $317,000 Public Records
• 2019-08-02 Sold (MLS) $317,000 WNYREIS
• 2019-07-18 Pending — WNYREIS
• 2019-06-20 Pending — WNYREIS
• 2019-06-11 Listed $299,900 WNYREIS

Property tax history

+4.7%/yr

Latest (2025): $1,387 · -10.7% YoY. Source: county tax records.