661 Minnesota Ave · Buffalo, NY 14215

$148,900

3 bd · 1.5 ba · 809 sqft · SingleFamily public records · 3 Days on market

Built 1927 3,900 sqft lot $184/sqft · 17% below area Est $179k · 17% 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 +15.0/30.0
• ARV discount +15.0/15.0
• DSCR +4.6/10.0
• 1% rule +4.1/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 661 Minnesota Avenue, a well-maintained single-family home located in the desirable University District of the City of Buffalo. This property offers 3 bedrooms and 1.5 bathrooms, providing a comfortable and functional layout ideal for a variety of buyers. Features include hardwood floors, a full basement, a partial attic for storage, and a two-car garage for convenient off-street parking. Enjoy outdoor space with a fenced yard, perfect for relaxation or entertaining. The property is currently rented for $1,300 per month, making it a great option for investors, while also presenting an excellent opportunity for owner-occupants. Conveniently located near public transportation, shopping, universities, and neighborhood amenities, this home offers both value and versatility. A solid opportunity in one of Buffalo’s sought-after areas

Key facts

• 3,900 sq ft lot
• 2 garage spots
• Built 1927

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $46 ($552/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 $136k (8.6% below list).
• Recommended offer: $136k (8.6% 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 flat; 237 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 36% of the median local income ($45k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 15y 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 $21k; list at $149k implies a 602% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,074 (8.6% below list)

Questions for the listing agent

1. Built in 1927 — 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 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: 0.91% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.32%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

• ARV (median comp): $178,972
• List price: $148,900
• Delta: -16.80%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
165 Hewitt Ave	0.70mi	2/2.0 (-1)	894 (+10%)	1mo	$125,000	$140	42
342 Hastings Ave	0.65mi	3/1.0	768 (-5%)	22mo	$175,000	$228	41
99 Davidson Ave	0.64mi	3/1.0	924 (+14%)	8mo	$110,000	$119	38
37 Cornell Ave	0.74mi	2/1.5 (-1)	847 (+5%)	24mo	$230,000	$272	33
93 Davidson Ave	0.64mi	3/1.0	924 (+14%)	19mo	$162,500	$176	29

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 · 0.67% rent growth · sell at horizon

5-year hold

• IRR: -16.8%
• Equity multiple: 0.42×
• Total profit: $-24,297
• Equity at exit: $22,201

10-year hold

• IRR: -13.6%
• Equity multiple: 0.29×
• Total profit: $-29,514
• Equity at exit: $12,874

Cash invested: $41,692 (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 14215

• Home prices YoY: -30.0%
• Rents YoY: 0.7%
• Active inventory: 237
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,361 high
• Mortgage (P&I): −$781
• Tax est. 1.5%: −$186 /mo · $2,234/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $46

Break-even live

Break-even rent $1,303

Max offer price $148,900

Occupancy floor 92%

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: $37,225
• Closing costs: $4,467
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
507 Lisbon Ave Unit 2 Buffalo, NY	2.0	1.0	850	$1,050	$1.24	43d	1	0.23mi
189 Westminster Ave Buffalo, NY	4.0	1.5	1065	$1,595	$1.50	10d	1	0.34mi
220 Dartmouth Ave Buffalo, NY	2.0	1.0	1000	$1,100	$1.10	23d	1	0.58mi
97 Davidson Ave Buffalo, NY	3.0	1.0	925	$1,495	$1.62	1d	1	0.66mi
140 Parkridge Ave Buffalo, NY	3.0	1.0	990	$1,500	$1.52	43d	1	0.99mi
92 Lasalle Ave Unit 1 Buffalo, NY	2.0	1.0	1000	$1,150	$1.15	43d	1	1.11mi
40 Lisbon Ave Unit Upper Buffalo, NY	2.0	1.0	1057	$1,500	$1.42	11d	1	1.13mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,291	$2.24	1d	10	1.16mi
26 Custer St Buffalo, NY	2.0	1.0	1000	$1,300	$1.30	43d	1	1.21mi
4035-4055 Harlem Rd Unit 4081B Buffalo, NY	2.0	1.0	815	$1,649	$2.02	1d	1	1.21mi
2939 Main St Buffalo, NY	1.0–2.0	1.0–2.0	562	$1,999	$3.55	3d	1	1.28mi
190 Manhattan Ave Buffalo, NY	2.0	1.0	724	$1,200	$1.66	43d	1	1.33mi
17 Proctor Ave Unit 1 Buffalo, NY	2.0	1.0	900	$1,100	$1.22	43d	1	1.40mi
103 Preston Rd Unit Lower Cheektowaga, NY	2.0	1.0	882	$1,300	$1.47	3d	1	1.48mi
2 Angle St Buffalo, NY	2.0	1.0	725	$1,212	$1.67	14d	2	1.48mi
160 Courtland Ave Buffalo, NY	2.0	1.0	810	$1,025	$1.27	14d	1	1.49mi

Listing history 22 events

1. 2026-06-18
   days on market $148,900 Active 3 DOM
2. 2026-06-17
   days on market $148,900 Active 2 DOM
3. 2026-06-15
   days on marketlisting id $148,900 Active 1 DOM
4. 2026-06-15
   days on market $148,900 Active 164 DOM
5. 2026-06-13
   days on market $148,900 Active 162 DOM
6. 2026-06-13
   days on market $148,900 Active 161 DOM
7. 2026-06-10
   days on market $148,900 Active 159 DOM
8. 2026-06-09
   days on market $148,900 Active 158 DOM
9. 2026-06-08
   days on market $148,900 Active 157 DOM
10. 2026-06-07
    days on market $148,900 Active 156 DOM
11. 2026-06-03
    days on market $148,900 Active 152 DOM
12. 2026-06-02
    days on market $148,900 Active 151 DOM
13. 2026-06-01
    days on market $148,900 Active 150 DOM
14. 2026-05-31
    days on market $148,900 Active 149 DOM
15. 2026-04-16
    price $148,900 856-char remark

    Show marketing remark (856 chars)

    Welcome to 661 Minnesota Avenue, a well-maintained single-family home located in the desirable University District of the City of Buffalo. This property offers 3 bedrooms and 1.5 bathrooms, providing a comfortable and functional layout ideal for a variety of buyers. Features include hardwood floors, a full basement, a partial attic for storage, and a two-car garage for convenient off-street parking. Enjoy outdoor space with a fenced yard, perfect for relaxation or entertaining. The property is currently rented for $1,300 per month, making it a great option for investors, while also presenting an excellent opportunity for owner-occupants. Conveniently located near public transportation, shopping, universities, and neighborhood amenities, this home offers both value and versatility. A solid opportunity in one of Buffalo’s sought-after areas

16. 2026-02-21
    price $149,400 856-char remark

    Show marketing remark (856 chars)

    Welcome to 661 Minnesota Avenue, a well-maintained single-family home located in the desirable University District of the City of Buffalo. This property offers 3 bedrooms and 1.5 bathrooms, providing a comfortable and functional layout ideal for a variety of buyers. Features include hardwood floors, a full basement, a partial attic for storage, and a two-car garage for convenient off-street parking. Enjoy outdoor space with a fenced yard, perfect for relaxation or entertaining. The property is currently rented for $1,300 per month, making it a great option for investors, while also presenting an excellent opportunity for owner-occupants. Conveniently located near public transportation, shopping, universities, and neighborhood amenities, this home offers both value and versatility. A solid opportunity in one of Buffalo’s sought-after areas

17. 2026-01-02
    listed $149,900 Active 856-char remark

    Show marketing remark (856 chars)

    Welcome to 661 Minnesota Avenue, a well-maintained single-family home located in the desirable University District of the City of Buffalo. This property offers 3 bedrooms and 1.5 bathrooms, providing a comfortable and functional layout ideal for a variety of buyers. Features include hardwood floors, a full basement, a partial attic for storage, and a two-car garage for convenient off-street parking. Enjoy outdoor space with a fenced yard, perfect for relaxation or entertaining. The property is currently rented for $1,300 per month, making it a great option for investors, while also presenting an excellent opportunity for owner-occupants. Conveniently located near public transportation, shopping, universities, and neighborhood amenities, this home offers both value and versatility. A solid opportunity in one of Buffalo’s sought-after areas

18. 2025-06-06
    historical $1,300
19. 2025-06-05
    listed $1,300
20. 2011-11-01
    soldstatus $21,200 142-char remark

    Show marketing remark (142 chars)

    Very nice city starter home with a 1st floor bedroom & finished knotty pine family area in the basement. Rear deck & 2-car garage.

21. 2011-09-12
    listed $24,900 142-char remark

    Show marketing remark (142 chars)

    Very nice city starter home with a 1st floor bedroom & finished knotty pine family area in the basement. Rear deck & 2-car garage.

22. 1997-08-25
    soldstatus $30,740

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 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: $16,329
• − Mortgage interest: −$8,341
• − Property taxes: −$2,234
• − Insurance: −$744
• − Repairs & maintenance: −$1,306
• − Management: −$1,306
• − Depreciation: −$4,332
• Taxable loss: −$1,934
• Est. tax savings @ 24.0%: +$464
• After-tax cash flow: $1,016/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): 42,524
• Household income: $44,955
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 2873.0

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 Black (67%)
• Race & ethnicity: Black 67% White 15% Asian 7% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada, China
• Languages at home: 88% English-only · Other Indo-European 4% Spanish 4% Chinese 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: ▼ -126.29%
• Current HPI: 295.2966
• Rent YoY: ▲ 0.67%
• 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

+384.4% since first listed

8 events — show timeline

• 2026-04-16 Price Changed $148,900 WNYREIS
• 2026-02-21 Price Changed $149,400 WNYREIS
• 2026-01-02 Listed $149,900 WNYREIS
• 2025-06-06 Rental Removed $1,300 SHOWMOJO
• 2025-06-05 Listed for Rent $1,300 SHOWMOJO
• 2011-11-01 Sold (MLS) $21,200 WNYREIS
• 2011-09-12 Listed $24,900 WNYREIS
• 1997-08-25 Sold (Public Records) $30,740 Public Records

Property tax history

+2.4%/yr

Latest (2025): $286 · +0.0% YoY. Source: county tax records.