703 Perry St · Buffalo, NY 14210

$49,999

3 bd · 1.0 ba · 1,206 sqft · SingleFamily public records · 51 Days on market

Built 1920 4,530 sqft lot $41/sqft · 58% below area ↓ 44% since listing

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Why this score? — see what drove the A- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0

Listing remarks

Located in Buffalo’s South Ellicott neighborhood near Larkin Square, 703 Perry St offers a strong value add opportunity for investors or buyers ready to renovate. This early 20th century home features 1,200 sq ft, 3 bedrooms, and 1 bath on a manageable lot, providing a solid canvas for a full rehab. Just minutes from the vibrant Larkin District, known for dining, breweries, events, and ongoing redevelopment. The location supports long term growth and rising demand. Ideal for a fix-and-flip or a buy and hold. Property sold as-is. Cash or rehab financing only. Don’t pass up on this great opportunity!

Key facts

• 4,530 sq ft lot
• Built 1920
• Listed 51 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: Single-story; Resale property; Wood siding construction
• Construction: Wood siding; Crawl space foundation; Existing construction
• Exterior features: Blacktop driveway; Deck; Covered porch; Patio; Private yard; Near public transit; Rectangular residential lot; City street frontage

Interior

• Bedrooms: 3 main level bedrooms
• Flooring: Hardwood; Vinyl; Varied flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas heating; Wall furnace; HVAC (energy efficient)
• Interior features: Accessible bedroom; Low cabinetry; Bedroom on main level; Other features (see remarks)
• Laundry & utility: Main level laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 34.0% vs local median 8.0% in Buffalo — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 41% 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 $5k of equity ($345 loan paydown + $5k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $14k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $20k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,499 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 3.69% ✓
• Cap rate: 33.97%
• Cash-on-cash: 98.86%
• DSCR: 5.40
• GRM: 2.3

CMA / ARV

• ARV (median comp): $118,964
• List price: $49,999
• Delta: -57.97%
• 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
823 S Division St	0.51mi	2/1.0 (-1)	1,236 (+2%)	2mo	$70,000	$57	66
160 Selkirk St	0.47mi	4/1.0 (+1)	1,171 (-3%)	7mo	$150,000	$128	63
136 Tennessee St	0.66mi	3/1.0	1,196 (-1%)	10mo	$75,000	$63	59
161 Oconnell Ave	0.53mi	3/1.5	1,232 (+2%)	16mo	$245,000	$199	56
541 Perry St	0.32mi	3/1.0	1,367 (+13%)	15mo	$72,500	$53	50
634 E Eagle St	0.63mi	3/1.0	1,279 (+6%)	13mo	$230,000	$180	50
146 James St	0.68mi	3/1.0	1,225 (+2%)	19mo	$31,000	$25	50
119 Peabody St	0.64mi	3/1.0	1,302 (+8%)	10mo	$150,000	$115	48
225 Alabama St	0.49mi	4/1.0 (+1)	1,055 (-12%)	7mo	$50,000	$47	46
703 Smith St	0.75mi	3/—	1,064 (-12%)	4mo	$43,000	$40	42
219 Jefferson Ave	0.68mi	2/2.0 (-1)	1,360 (+13%)	5mo	$154,000	$113	34
444 S Division St Unit N	0.71mi	3/1.0	1,028 (-15%)	19mo	$200,000	$195	26

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: —
• Equity multiple: 8.59×
• Total profit: $106,237
• Equity at exit: $45,043

10-year hold

• IRR: —
• Equity multiple: 21.19×
• Total profit: $282,637
• Equity at exit: $97,137

Cash invested: $14,000 (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 14210

• Home prices YoY: 13.8%
• Rents YoY: 12.7%
• Active inventory: 94
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,844 high
• Mortgage (P&I): −$262
• Tax from tax record: −$20 /mo · $241/yr
• Insurance: −$21
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $1,087

Break-even live

Break-even rent $468

Max offer price $49,999

Occupancy floor 36%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
140 Seymour St Unit First Floor Buffalo, NY	2.0	1.0	1300	$1,800	$1.38	3d	1	0.46mi
140 Seymour St Buffalo, NY	2.0	1.0	1300	$1,800	$1.38	23d	1	0.46mi
141 Vandalia St Unit Lower back Buffalo, NY	2.0	1.0	850	$1,075	$1.26	43d	1	0.51mi
225 Louisiana St Buffalo, NY	1.0–3.0	1.0–2.0	1164	$2,653	$2.28	1d	7	0.76mi
230 Scott St Buffalo, NY	1.0–2.0	1.0–2.0	1285	$2,325	$1.81	1d	4	0.89mi
47 Lester St Unit Main Floor Buffalo, NY	3.0	1.0	900	$1,000	$1.11	43d	1	1.16mi
149 Swan St #404 Buffalo, NY	2.0	2.0	1237	$2,100	$1.70	23d	1	1.17mi
149 Swan St #404 Buffalo, NY	2.0	2.0	1237	$2,050	$1.66	11d	1	1.17mi
700 Hopkins St Buffalo, NY	3.0	1.0	1100	$1,225	$1.11	14d	1	1.36mi
696 Hopkins St Unit 2 Buffalo, NY	2.0	1.0	750	$950	$1.27	43d	1	1.36mi
237 Main St Buffalo, NY	1.0–3.0	1.5–2.5	1608	$4,035	$2.51	1d	9	1.43mi

Listing history 25 events

1. 2026-06-18
   days on market $49,999 Active 51 DOM
2. 2026-06-17
   price $49,999 Active 50 DOM
3. 2026-06-17
   days on market $60,000 Active 50 DOM
4. 2026-06-16
   days on market $60,000 Active 49 DOM
5. 2026-06-15
   days on market $60,000 Active 48 DOM
6. 2026-06-13
   days on market $60,000 Active 46 DOM
7. 2026-06-13
   days on market $60,000 Active 45 DOM
8. 2026-06-10
   days on market $60,000 Active 43 DOM
9. 2026-06-09
   days on market $60,000 Active 42 DOM
10. 2026-06-08
    days on market $60,000 Active 41 DOM
11. 2026-06-07
    days on market $60,000 Active 40 DOM
12. 2026-06-03
    days on market $60,000 Active 36 DOM
13. 2026-06-02
    days on market $60,000 Active 35 DOM
14. 2026-06-01
    days on market $60,000 Active 34 DOM
15. 2026-05-31
    days on market $60,000 Active 33 DOM
16. 2026-04-28
    listed $70,000 Active 617-char remark
17. 2024-07-24
    status Pending
18. 2024-07-24
    historical
19. 2024-07-14
    listed $29,999 Active
20. 2024-07-13
    historical
21. 2024-07-09
    historical
22. 2024-07-09
    historical
23. 2024-06-25
    price $74,999
24. 2024-06-19
    price $79,999
25. 2024-05-29
    listed $89,999 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: $241 · $20/mo
• Projected year-2 tax: $543 · $45/mo
• Expected delta: +$302/yr (+$25/mo · 125.3%)

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

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 ≥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: $22,123
• − Mortgage interest: −$2,801
• − Property taxes: −$241
• − Insurance: −$1,047
• − Repairs & maintenance: −$1,770
• − Management: −$1,770
• − Depreciation: −$1,455
• Taxable income: $13,039
• Est. tax owed @ 24.0%: −$3,129
• After-tax cash flow: $9,913/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: 41,101
• 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

-44.4% since first listed

12 events — show timeline

• 2026-06-17 Price Changed $49,999 UNYREIS
• 2026-05-25 Price Changed $60,000 UNYREIS
• 2026-04-28 Listed $70,000 UNYREIS
• 2024-07-24 Pending — WNYREIS
• 2024-07-24 Listing Removed — WNYREIS
• 2024-07-14 Listed $29,999 WNYREIS
• 2024-07-13 Listing Removed — WNYREIS
• 2024-07-09 Listing Removed — WNYREIS
• 2024-07-09 Listing Removed — WNYREIS
• 2024-06-25 Price Changed $74,999 WNYREIS
• 2024-06-19 Price Changed $79,999 WNYREIS
• 2024-05-29 Listed $89,999 WNYREIS

Property tax history

+14.6%/yr

Latest (2025): $241 · +7.5% YoY. Source: county tax records.