119 Gilbert St · Buffalo, NY 14206

$89,900

3 bd · 1.0 ba · 1,360 sqft · SingleFamily public records · 84 Days on market

Built 1900 3,870 sqft lot $66/sqft · 31% below area Est $131k · 31% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to 119 Gilbert Ave in Buffalo! This three-bedroom home offers an affordable opportunity to make a space your own. Featuring a traditional layout with a living room, formal dining room, and eat-in kitchen, there’s plenty of room to create a setup that fits your style. Natural light fills the home, and the layout provides a great starting point for your vision. Two bedrooms downstairs and one bedroom upstairs with functional space. Conveniently located near neighborhood shops, local restaurants, and everyday essentials, this home makes daily living easy. Close proximity to public transportation, including nearby bus lines, allows for simple commuting throughout the city. Easy access to major roads and thruways makes getting to downtown Buffalo and surrounding areas quick and convenient. Outside offers a manageable yard and a practical exterior, with driveway for off-street parking. With solid bones and a central location, this home is ready for your personal touch. A great opportunity to create something truly beautiful at an affordable price in a classic Buffalo neighborhood.

Key facts

• 3,870 sq ft lot
• Built 1900
• Listed 84 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.3% 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: 169 active listings in the ZIP; 10 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).
• This rent runs 32% 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 $8k of equity ($622 loan paydown + $7k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $84,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.51% ✓
• Cap rate: 12.34%
• Cash-on-cash: 21.61%
• DSCR: 1.96
• GRM: 5.5

CMA / ARV

• ARV (median comp): $130,879
• List price: $89,900
• Delta: -31.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
135 Bushnell St	0.06mi	3/1.0	1,530 (+12%)	1mo	$121,200	$79	76
122 Gilbert St	0.02mi	2/1.0 (-1)	1,204 (-12%)	6mo	$68,000	$56	69
89 Roberts Ave	0.72mi	3/1.0	1,338 (-2%)	4mo	$106,500	$80	61
271 Babcock St	0.42mi	3/2.0	1,387 (+2%)	18mo	$110,000	$79	58
119 Peabody St	0.68mi	3/1.0	1,302 (-4%)	10mo	$150,000	$115	53
92 Troupe St	0.31mi	3/1.0	1,218 (-10%)	19mo	$175,000	$144	52
118 Peabody St	0.69mi	3/1.0	1,362 (+0%)	22mo	$130,000	$95	50
57 Jones St	0.43mi	4/1.0 (+1)	1,497 (+10%)	12mo	$72,000	$48	48
95 Roberts Ave	0.71mi	3/2.0	1,485 (+9%)	8mo	$160,000	$108	41
26 Peru Pl	0.61mi	3/1.5	1,180 (-13%)	20mo	$119,900	$102	31

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

Projected returns pro-forma

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

5-year hold

• IRR: 37.2%
• Equity multiple: 3.63×
• Total profit: $66,256
• Equity at exit: $68,657

10-year hold

• IRR: 33.1%
• Equity multiple: 7.79×
• Total profit: $170,842
• Equity at exit: $136,625

Cash invested: $25,172 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,360 high
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $453

Break-even live

Break-even rent $786

Max offer price $89,900

Occupancy floor 62%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
47 Lester St Unit Main Floor Buffalo, NY	3.0	1.0	900	$1,000	$1.11	43d	1	0.43mi
1150 Bailey Ave Buffalo, NY	4.0	1.5	1100	$1,200	$1.09	23d	1	0.95mi
140 Seymour St Unit First Floor Buffalo, NY	2.0	1.0	1300	$1,800	$1.38	3d	1	0.96mi
140 Seymour St Buffalo, NY	2.0	1.0	1300	$1,800	$1.38	23d	1	0.96mi
901 S Park Ave Unit Lower Buffalo, NY	4.0	1.0	1729	$1,600	$0.93	23d	1	1.24mi
76 Hammerschmidt Ave Buffalo, NY	3.0	1.0	1200	$1,275	$1.06	1d	1	1.31mi
700 Hopkins St Buffalo, NY	3.0	1.0	1100	$1,225	$1.11	14d	1	1.35mi
1899 Seneca St Buffalo, NY	3.0	1.0	1134	$1,075	$0.95	14d	1	1.37mi
1927 Seneca St Buffalo, NY	3.0	1.0	1196	$1,250	$1.05	23d	1	1.42mi
214 Abbott Rd Unit 2 Buffalo, NY	2.0	1.0	945	$1,200	$1.27	14d	1	1.46mi

Listing history 15 events

1. 2026-06-18
   days on market $89,900 Active 84 DOM
2. 2026-06-17
   days on market $89,900 Active 83 DOM
3. 2026-06-16
   pricedays on market $89,900 Active 82 DOM
4. 2026-06-15
   days on market $99,900 Active 81 DOM
5. 2026-06-13
   days on market $99,900 Active 79 DOM
6. 2026-06-13
   days on market $99,900 Active 78 DOM
7. 2026-06-10
   days on market $99,900 Active 76 DOM
8. 2026-06-09
   days on market $99,900 Active 75 DOM
9. 2026-06-08
   days on market $99,900 Active 74 DOM
10. 2026-06-07
    days on market $99,900 Active 73 DOM
11. 2026-06-03
    days on market $99,900 Active 69 DOM
12. 2026-06-02
    days on market $99,900 Active 68 DOM
13. 2026-06-01
    days on market $99,900 Active 67 DOM
14. 2026-05-31
    days on market $99,900 Active 66 DOM
15. 2026-03-26
    listed $99,900 Active 1105-char remark

    Show marketing remark (1105 chars)

    Welcome to 119 Gilbert Ave in Buffalo! This three-bedroom home offers an affordable opportunity to make a space your own. Featuring a traditional layout with a living room, formal dining room, and eat-in kitchen, there’s plenty of room to create a setup that fits your style. Natural light fills the home, and the layout provides a great starting point for your vision. Two bedrooms downstairs and one bedroom upstairs with functional space. Conveniently located near neighborhood shops, local restaurants, and everyday essentials, this home makes daily living easy. Close proximity to public transportation, including nearby bus lines, allows for simple commuting throughout the city. Easy access to major roads and thruways makes getting to downtown Buffalo and surrounding areas quick and convenient. Outside offers a manageable yard and a practical exterior, with driveway for off-street parking. With solid bones and a central location, this home is ready for your personal touch. A great opportunity to create something truly beautiful at an affordable price in a classic Buffalo neighborhood.

ⓘ 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 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: $16,321
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$1,306
• − Management: −$1,306
• − Depreciation: −$2,615
• Taxable income: $4,261
• Est. tax owed @ 24.0%: −$1,023
• After-tax cash flow: $4,416/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

1 event — show timeline

• 2026-03-26 Listed $99,900 WNYREIS

Property tax history

+2.3%/yr

Latest (2025): $168 · +0.0% YoY. Source: county tax records.