315 Smith St · Buffalo, NY 14210

$169,900

6 bd · 2.0 ba · 3,008 sqft · MultiFamily public records · 9 Days on market

Built 1898 3,750 sqft lot $56/sqft · 36% below area Est $266k · 36% under

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Why this score? — see what drove the B+ 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 +24.9/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +8.1/10.0
• 1% rule +6.5/10.0
• Rent growth +5.0/5.0
• 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 (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Welcome to this spacious single-family home located at 315 Smith St in South Buffalo! This property offers 7 bedrooms, a full bathroom, a bright living room, formal dining room, and a functional kitchen with plenty of space. The home also features a full attic offering additional storage potential, plus a detached garage shed for extra convenience. No basement to worry about. Great opportunity for owner-occupants or investors alike. Conveniently located near schools, shopping, restaurants, and major highways. Don’t miss this affordable opportunity with plenty of living space! All information deemed reliable but not guaranteed.

Key facts

• Near schools
• Near shopping
• Near restaurants

Tags

• FULL ATTIC
• DETACHED GARAGE SHED
• NEAR SCHOOLS
• NEAR SHOPPING
• NEAR RESTAURANTS
• NEAR MAJOR HIGHWAYS

Property features AI

Finance

• Financial info: Operating expenses include water/sewer; Owner pays water for rentals

Exterior

• Parking: Attached garage; 2 garage spaces
• Utilities: Public water connected; Sewer connected; Circuit breaker electrical service
• Home design: 2-story building; Existing construction
• Construction: Composite siding; PEX plumbing; Asphalt roof; Pillar/post/pier foundation
• Exterior features: Near public transit; Rectangular residential lot; City street frontage

Interior

• Bedrooms: One unit with 4 bedrooms; One unit with 3 bedrooms
• Flooring: Tile; Varies; Vinyl
• Bathrooms: Each unit has 1 full bathroom (total 2 full bathrooms)
• Heating & cooling: Gas forced-air heating; Gas water heater
• Interior features: Accessible doors; Formal dining room; Living room

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $301 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).

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 (+12.7%/yr); 94 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 43% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $48k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 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 $32k; list at $170k implies a 431% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1898 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,900

Questions for the listing agent

1. Built in 1898 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.15% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.26%
• DSCR: 1.41
• GRM: 7.3

CMA / ARV

• ARV (median comp): $265,527
• List price: $169,900
• Delta: -36.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
839 Perry St	0.08mi	6/2.0	2,564 (-15%)	1mo	$67,000	$26	71
37 Fillmore Ave	0.34mi	6/2.0	2,680 (-11%)	23mo	$130,000	$49	47
1062 Clinton St	0.74mi	6/3.0	3,174 (+6%)	17mo	$207,000	$65	38
209 Babcock St	0.55mi	6/2.0	2,612 (-13%)	18mo	$125,000	$48	37

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

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 32.0%
• Equity multiple: 3.57×
• Total profit: $122,056
• Equity at exit: $153,059

10-year hold

• IRR: 29.4%
• Equity multiple: 8.78×
• Total profit: $370,062
• Equity at exit: $330,078

Cash invested: $47,572 (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 14210

• Home prices YoY: 13.8%
• Rents YoY: 12.7%
• Active inventory: 94
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,951 medium
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,548/yr
• Insurance: −$71
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $301

Break-even live

Break-even rent $1,570

Max offer price $169,900

Occupancy floor 80%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-05-12
   listed $169,900 Active 640-char remark
2. 2024-04-30
   historical
3. 2024-03-20
   listed $135,000 Active
4. 2024-03-12
   historical
5. 2023-12-12
   listed $135,000 Active
6. 2018-10-05
   soldstatus $32,000 Closed Sale or Rented
7. 2018-10-05
   soldstatus $30,000
8. 2018-08-30
   status Pending Sale
9. 2018-07-12
   listed $37,000 Active
10. 2017-10-24
    soldstatus $17,000 Closed Sale or Rented
11. 2017-09-19
    status Pending Sale
12. 2017-08-23
    price $25,315
13. 2017-06-23
    listed $29,999 Active

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 77% 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,410
• − Mortgage interest: −$9,517
• − Property taxes: −$2,548
• − Insurance: −$1,647
• − Repairs & maintenance: −$1,873
• − Management: −$1,873
• − Depreciation: −$4,943
• Taxable income: $1,010
• Est. tax owed @ 24.0%: −$242
• After-tax cash flow: $3,365/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): 15,563
• Household income: $54,197
• Rent vs Own: 53.9% rent · 46.1% 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: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 8% Black 8% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 21% Lithuanian 2% Serbian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 95% English-only · Spanish 2% Arabic 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: ▲ 52.34%
• Current HPI: 431.7951
• Rent YoY: ▲ 12.67%
• 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

+466.4% since first listed

14 events — show timeline

• 2026-05-21 Pending — WNYREIS
• 2026-05-12 Listed $169,900 WNYREIS
• 2024-04-30 Listing Removed — WNYREIS
• 2024-03-20 Listed $135,000 WNYREIS
• 2024-03-12 Listing Removed — WNYREIS
• 2023-12-12 Listed $135,000 WNYREIS
• 2018-10-05 Sold (Public Records) $30,000 Public Records
• 2018-10-05 Sold (MLS) $32,000 WNYREIS
• 2018-08-30 Pending — WNYREIS
• 2018-07-12 Listed $37,000 WNYREIS
• 2017-10-24 Sold (MLS) $17,000 WNYREIS
• 2017-09-19 Pending — WNYREIS
• 2017-08-23 Price Changed $25,315 WNYREIS
• 2017-06-23 Listed $29,999 WNYREIS

Property tax history

+5.6%/yr

Latest (2025): $287 · +60.2% YoY. Source: county tax records.