301 Davey St · Buffalo, NY 14206

$155,000

4 bd · 1.0 ba · 1,255 sqft · Other public records · 38 Days on market

Built 1900 4,020 sqft lot $124/sqft · 13% below area Est $299k · 48% 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 +23.9/30.0
• ARV discount +15.0/15.0
• Appreciation +9.0/10.0
• DSCR +7.7/10.0
• 1% rule +4.9/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to 301 Davey Street in Buffalo, NY. This is an opportunity to own 2 single family houses on 1 lot. The front house is vacant and the back house is currently tenant occupied. The tenant in the back house wishes to stay. This house presents the unique opportunity to have 2 occupants on 1 parcel but not right on top of each other. The front unit features 4 bedrooms, 1.5 bathrooms. kitchen, living room, and a dining room. The back unit features 3 bedrooms, 1 bathroom, living room, and full kitchen. This is the perfect opportunity to owner occupy 1 unit and rent out the other or rent out both units. Pride of ownership best describes the property. The back house is fully fenced in to prov

Key facts

• 1 lot
• Tenant occupied
• Private living space

Tags

• 2 SINGLE FAMILY HOUSES
• 1 LOT
• TENANT OCCUPIED
• PRIVATE LIVING SPACE
• FULLY FENCED IN

Property features AI

Finance

• Financial info: Two-unit property with separate gas and electric meters for each unit; Unit 1 reported rent: $1,000; Unit 2 rent information: see remarks; Owner pays: water (and other items per remarks); Operating expense details: see remarks

Exterior

• Parking: No driveway
• Utilities: Public water connected; Sewer connected
• Home design: Single-story building; Existing/resale property
• Construction: Construction details: see remarks
• Exterior features: Rectangular lot (approx. 30 x 134 feet)

Interior

• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 4 bedrooms
• Flooring: Carpet; Varies
• Bathrooms: Two full bathrooms and one half bathroom (building total); Unit 1: 1 full bathroom; Unit 2: 1 full bathroom and 1 half bathroom
• Heating & cooling: Gas forced-air heating; Has heating
• Interior features: Carpet and varied flooring throughout; Crawl space basement
• Laundry & utility: Gas water heater

🏷️ Possibly a rental listed for sale. The $155,000 price doesn't fit this home's estimated sale value (~$299,371) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath other listed at $155k.

Deal economics

• At list price, monthly cash flow is $302 ($4k/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 $153k (1.2% below list).
• Recommended offer: $150k (3.0% below list) — sets the bar for market timing.

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: 169 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 36% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $14k of equity ($1k loan paydown + $12k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $18k; list at $155k implies a 761% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 0.99% ✗
• Cap rate: 8.63%
• Cash-on-cash: 8.35%
• DSCR: 1.37
• GRM: 8.4

CMA / ARV

• ARV (median comp): $299,371
• List price: $155,000
• Delta: -48.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

8.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.5%
• Equity multiple: 2.93×
• Total profit: $83,595
• Equity at exit: $118,374

10-year hold

• IRR: 23.8%
• Equity multiple: 6.26×
• Total profit: $228,109
• Equity at exit: $235,561

Cash invested: $43,400 (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 14206

• Home prices YoY: 1.8%
• Active inventory: 169
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,531 high
• Mortgage (P&I): −$813
• Tax from tax record: −$30 /mo · $363/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $302

Break-even live

Break-even rent $1,149

Max offer price $155,000

Occupancy floor 75%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1777 Broadway Unit 2 Buffalo, NY	3.0	1.0	1300	$1,200	$0.92	43d	1	0.43mi
1150 Bailey Ave Buffalo, NY	4.0	1.5	1100	$1,200	$1.09	23d	1	0.78mi
14 Rutland Ave Buffalo, NY	4.0	1.0	1430	$2,200	$1.54	10d	1	0.89mi
979 Walden Ave Buffalo, NY	4.0	3.0	1793	$2,000	$1.12	1d	1	0.95mi
24 Euclid Ave Buffalo, NY	3.0	2.0	1150	$1,700	$1.48	43d	1	1.06mi
1202 Walden Ave Unit 3 Buffalo, NY	3.0	1.0	1500	$1,400	$0.93	17d	1	1.16mi
67 Moeller St Unit LOWER Buffalo, NY	3.0	1.0	960	$1,200	$1.25	23d	1	1.27mi
67 Moeller St Unit UPPER Buffalo, NY	3.0	1.0	960	$1,000	$1.04	3d	1	1.27mi
143 Reo Ave Buffalo, NY	3.0	2.0	1143	$1,600	$1.40	11d	1	1.48mi

Listing history 18 events

1. 2026-06-18
   days on market $155,000 Active 38 DOM
2. 2026-06-17
   days on market $155,000 Active 37 DOM
3. 2026-06-16
   days on market $155,000 Active 36 DOM
4. 2026-06-15
   days on market $155,000 Active 35 DOM
5. 2026-06-13
   days on market $155,000 Active 33 DOM
6. 2026-06-13
   days on market $155,000 Active 32 DOM
7. 2026-06-10
   days on market $155,000 Active 30 DOM
8. 2026-06-09
   days on market $155,000 Active 29 DOM
9. 2026-06-08
   days on market $155,000 Active 28 DOM
10. 2026-06-07
    days on market $155,000 Active 27 DOM
11. 2026-06-03
    days on market $155,000 Active 23 DOM
12. 2026-06-02
    days on market $155,000 Active 22 DOM
13. 2026-06-01
    days on market $155,000 Active 21 DOM
14. 2026-05-31
    days on market $155,000 Active 20 DOM
15. 2026-05-11
    listed $155,000 Active 788-char remark
16. 2025-11-15
    historical
17. 2025-10-15
    listed $155,000 Active
18. 2014-02-14
    soldstatus $18,000

ⓘ 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: $363 · $30/mo
• Projected year-2 tax: $1,491 · $124/mo
• Expected delta: +$1,128/yr (+$94/mo · 310.6%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $18,377
• − Mortgage interest: −$8,682
• − Property taxes: −$363
• − Insurance: −$775
• − Repairs & maintenance: −$1,470
• − Management: −$1,470
• − Depreciation: −$4,509
• Taxable income: $1,107
• Est. tax owed @ 24.0%: −$266
• After-tax cash flow: $3,360/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): 21,631
• Household income: $50,450
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 841.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 13% Black 12% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10%
• Common ancestry: Romanian 25% Lithuanian 1% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Arabic 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: ▲ 8.06%
• Current HPI: 457.3935
• Rent YoY: —
• 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

+761.1% since first listed

4 events — show timeline

• 2026-05-11 Listed $155,000 WNYREIS
• 2025-11-15 Listing Removed — WNYREIS
• 2025-10-15 Listed $155,000 WNYREIS
• 2014-02-14 Sold (Public Records) $18,000 Public Records

Property tax history

+8.3%/yr

Latest (2025): $363 · +20.0% YoY. Source: county tax records.