112 Goembel Ave · Buffalo, NY 14211

$199,900

5 bd · 2.0 ba · 1,557 sqft · MultiFamily public records · 55 Days on market

Built 1910 3,030 sqft lot $128/sqft · at area comps Est $206k · at est.

---

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 +24.1/30.0
• ARV discount +8.8/15.0
• DSCR +7.8/10.0
• 1% rule +6.3/10.0
• Appreciation +6.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Welcome to this amazing 2-family home offering strong owner-occupant or investment potential. The lower unit features 3 bedrooms, 1 full bath, and a welcoming front porch. The upper unit includes 2 bedrooms, 1 full bath, a spacious living room, dining room, and private balcony. Interior has been freshly painted through out, some updates already completed/. Estimated rental income: Lower unit approximately $1400/month; Upper approximately $1200/month. Additional opportunity: the adjacent lot is owned by the City of Buffalo nand maybe available for purchase, offering potential for expanded yard space. Conveniently located near shopping dining, schools, and other local amenities. Property is b

Key facts

• Private balcony
• Front porch
• Expanded yard space

Tags

• FRONT PORCH
• PRIVATE BALCONY
• EXPANDED YARD SPACE
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Lot dimensions approximately 30 x 101
• Financial info: Two-unit property with separate gas and electric meters for each unit; Unit rents: one unit at $1,200, the other at $1,400; Operating expense details: see remarks; Owner pays: other (see remarks); rent includes: see remarks

Exterior

• Parking: Detached garage with 1 car space; Concrete parking surface
• Utilities: Public water connected; Sewer connected
• Home design: Frame construction; Single-story building; Residential 2-unit zoning; Resale property
• Construction: Frame construction
• Exterior features: Balcony; Covered porch; Porch; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Eat-in kitchen (in one unit); Formal dining room (in one unit); Dining area open to living room (in the other unit)
• Bedrooms: One unit with 2 bedrooms; One unit with 3 bedrooms
• Flooring: Ceramic tile; Hardwood; Tile; Varies
• Bathrooms: Two full bathrooms total (each unit has 1 full bathroom)
• Heating & cooling: Gas forced air heating; Heating present (see remarks)
• Interior features: Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $396 ($5k/yr) — positive. Per door: $198/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $194k (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: 172 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,250/mo this rent would consume 74% of the median local household income ($36k/yr) (locally 1804% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (2.0% local appreciation)).
• At projected returns (2.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $193,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.13% ✓
• Cap rate: 8.67%
• Cash-on-cash: 8.49%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

• ARV (median comp): $205,995
• List price: $199,900
• Delta: -2.96%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
262 Sumner Pl	0.25mi	4/2.0 (-1)	1,660 (+7%)	11mo	$72,000	$43	63
325 Box Ave	0.58mi	5/2.0	1,524 (-2%)	13mo	$135,000	$89	59
70 Kilhoffer St	0.39mi	4/2.0 (-1)	1,591 (+2%)	18mo	$90,000	$57	58
141 Moselle St	0.38mi	5/2.0	1,730 (+11%)	8mo	$30,000	$17	57
125 Gatchell St	0.51mi	4/2.0 (-1)	1,650 (+6%)	13mo	$80,000	$48	50
106 Koons Ave	0.64mi	4/2.0 (-1)	1,421 (-9%)	1mo	$80,000	$56	50
587 Goodyear Ave	0.43mi	4/2.0 (-1)	1,362 (-12%)	9mo	$135,000	$99	47
60 Sattler Ave	0.58mi	4/2.0 (-1)	1,746 (+12%)	6mo	$94,500	$54	43
50 Newburgh Ave	0.69mi	4/2.0 (-1)	1,519 (-2%)	20mo	$135,000	$89	42
89 Wyoming Ave	0.74mi	4/2.0 (-1)	1,408 (-10%)	3mo	$85,101	$60	42
99 Sattler Ave	0.64mi	4/2.0 (-1)	1,390 (-11%)	8mo	$82,500	$59	41
34 Wick St	0.73mi	4/2.0 (-1)	1,770 (+14%)	13mo	$145,000	$82	28

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

Projected returns pro-forma

2.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.0%
• Equity multiple: 1.71×
• Total profit: $39,463
• Equity at exit: $79,378

10-year hold

• IRR: 15.7%
• Equity multiple: 3.11×
• Total profit: $117,991
• Equity at exit: $114,716

Cash invested: $55,972 (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 14211

• Home prices YoY: 0.6%
• Active inventory: 172
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $2,250 high
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $396

Break-even live

Break-even rent $1,749

Max offer price $199,900

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,250
Total (2 units)			$2,250

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
979 Walden Ave Buffalo, NY	4.0	3.0	1793	$2,000	$1.12	1d	1	0.84mi
518 Wilson St Buffalo, NY	5.0	1.5	1848	$1,500	$0.81	23d	1	1.37mi

Listing history 19 events

1. 2026-06-18
   days on market $199,900 Active 55 DOM
2. 2026-06-17
   days on market $199,900 Active 54 DOM
3. 2026-06-16
   days on market $199,900 Active 53 DOM
4. 2026-06-15
   days on market $199,900 Active 52 DOM
5. 2026-06-13
   days on market $199,900 Active 50 DOM
6. 2026-06-13
   days on market $199,900 Active 49 DOM
7. 2026-06-10
   days on market $199,900 Active 47 DOM
8. 2026-06-09
   days on market $199,900 Active 46 DOM
9. 2026-06-08
   days on market $199,900 Active 45 DOM
10. 2026-06-07
    days on market $199,900 Active 44 DOM
11. 2026-06-03
    days on market $199,900 Active 40 DOM
12. 2026-06-02
    days on market $199,900 Active 39 DOM
13. 2026-06-01
    days on market $199,900 Active 38 DOM
14. 2026-05-31
    days on market $199,900 Active 37 DOM
15. 2026-04-24
    listed $199,900 Active 715-char remark
16. 2025-10-04
    historical $1,200
17. 2025-08-18
    listed $1,200
18. 2024-08-25
    historical $1,200
19. 2024-07-27
    listed $1,200

ⓘ 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 ≥93°F today · 14 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: $27,000
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,160
• − Management: −$2,160
• − Depreciation: −$5,815
• Taxable income: $1,669
• Est. tax owed @ 24.0%: −$401
• After-tax cash flow: $4,352/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): 24,663
• Household income: $36,300
• Rent vs Own: 54.8% rent · 45.2% own
• Severe rent burden: 1804.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Black 59% Asian 20% Hispanic / Latino 9% White 9% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 4%
• Foreign-born: 17% · Canada, Philippines, Vietnam
• Languages at home: 74% English-only · Other Indo-European 14% Spanish 6% Other Asian/Pacific 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: ▲ 2.05%
• Current HPI: 357.6438
• 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

+16558.3% since first listed

5 events — show timeline

• 2026-04-24 Listed $199,900 WNYREIS
• 2025-10-04 Rental Removed $1,200 RENTSPREE
• 2025-08-18 Listed for Rent $1,200 RENTSPREE
• 2024-08-25 Rental Removed $1,200 RENTSPREE
• 2024-07-27 Listed for Rent $1,200 RENTSPREE

Property tax history

+24.5%/yr

Latest (2025): $301 · +106.2% YoY. Source: county tax records.