34 Rommel Ave · Buffalo, NY 14212

$149,000

3 bd · 2.0 ba · 1,630 sqft · MultiFamily public records · 13 Days on market

Built 1910

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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 +30.0/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Separate front and rear units, recently renovated including roof, heating, plumbing, electric and everything inside. Ready to live or rent.

Key facts

• Recently renovated
• Built 1910
• Listed 13 days

Tags

• RECENTLY RENOVATED
• SEPARATE FRONT AND REAR UNITS

Property features AI

Exterior

• Home design: Built in 1910
• Construction: 1900s-era construction (built 1910)
• Exterior features: Located in the Emerson subdivision

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $149k.

Deal economics

• At list price, monthly cash flow is $780 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Cap rate 12.6% 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: 83 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $21k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,000

Questions for the listing agent

1. Built in 1910 — 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 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: 1.40% ✓
• Cap rate: 12.57%
• Cash-on-cash: 22.43%
• DSCR: 2.00
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $91,280
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
117 Quincy St	0.22mi	4/2.0 (+1)	1,728 (+6%)	4mo	$90,000	$52	72
106 Koons Ave	0.29mi	4/2.0 (+1)	1,421 (-13%)	1mo	$80,000	$56	60
34 Wick St	0.33mi	4/2.0 (+1)	1,770 (+9%)	13mo	$145,000	$82	55
125 Gatchell St	0.62mi	4/2.0 (+1)	1,650 (+1%)	13mo	$80,000	$48	53
27 Rohr St	0.60mi	4/2.0 (+1)	1,747 (+7%)	7mo	$200,000	$114	50
143 Sobieski St	0.36mi	4/2.0 (+1)	1,860 (+14%)	19mo	$35,000	$19	39

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.1%
• Equity multiple: 4.13×
• Total profit: $130,758
• Equity at exit: $134,231

10-year hold

• IRR: 35.4%
• Equity multiple: 9.29×
• Total profit: $345,861
• Equity at exit: $289,474

Cash invested: $41,720 (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 14212

• Home prices YoY: 20.4%
• Active inventory: 83
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $2,087 high
• Mortgage (P&I): −$781
• Tax from tax record: −$25 /mo · $304/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $780

Break-even live

Break-even rent $1,100

Max offer price $149,000

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,088
Total (2 units)			$2,087

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 6 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	44d	1	0.86mi
517 Goodyear Ave Buffalo, NY	3.0	1.0	1559	$1,800	$1.15	19d	1	0.94mi
1150 Bailey Ave Buffalo, NY	4.0	1.5	1100	$1,200	$1.09	24d	1	0.98mi
96 Academy Rd Buffalo, NY	3.0	1.0	2247	$1,400	$0.62	24d	1	1.29mi
73 Inter Park Ave Buffalo, NY	3.0	1.0	2080	$1,300	$0.62	14d	1	1.46mi
979 Walden Ave Buffalo, NY	4.0	3.0	1793	$2,000	$1.12	2d	1	1.49mi

Listing history 11 events

1. 2026-06-18
   days on market $149,000 Active 13 DOM
2. 2026-06-17
   days on market $149,000 Active 12 DOM
3. 2026-06-16
   pricedays on market $149,000 Active 11 DOM
4. 2026-06-15
   days on market $170,000 Active 10 DOM
5. 2026-06-13
   days on market $170,000 Active 8 DOM
6. 2026-06-13
   days on market $170,000 Active 7 DOM
7. 2026-06-10
   days on market $170,000 Active 5 DOM
8. 2026-06-09
   days on market $170,000 Active 4 DOM
9. 2026-06-08
   days on market $170,000 Active 3 DOM
10. 2026-06-07
    remarks 139-char remark
11. 2026-06-07
    listed $170,000 Active 2 DOM

ⓘ 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: $304 · $25/mo
• Projected year-2 tax: $1,411 · $118/mo
• Expected delta: +$1,107/yr (+$92/mo · 364.4%)

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

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 · 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: $25,044
• − Mortgage interest: −$8,346
• − Property taxes: −$304
• − Insurance: −$745
• − Repairs & maintenance: −$2,004
• − Management: −$2,004
• − Depreciation: −$4,335
• Taxable income: $7,307
• Est. tax owed @ 24.0%: −$1,754
• After-tax cash flow: $7,606/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
• City population: 440,021
• Population (ZIP): 13,603

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: White 32% Black 27% Asian 25% Hispanic / Latino 9% Two or more races 8%
• Hispanic origin (detail): Puerto Rican 8%
• Common ancestry: Romanian 12% Serbian 1% Lithuanian 1%
• Foreign-born: 20% · Philippines, Canada, China
• Languages at home: 68% English-only · Other Indo-European 18% Spanish 4% Other Asian/Pacific 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: ▲ 79.80%
• Current HPI: 471.6399
• Rent YoY: —
• Metro: —
• 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

+209.1% since first listed

5 events — show timeline

• 2026-06-06 Listed $170,000 FSBO.com
• 2023-12-27 Pending — WNYREIS
• 2022-04-18 Pending — WNYREIS
• 2022-04-16 Listing Removed — WNYREIS
• 2022-04-11 Listed $55,000 WNYREIS

Property tax history

+11.1%/yr

Latest (2025): $304 · +158.1% YoY. Source: county tax records.