120 Elmer Ave · Buffalo, NY 14215

$89,777

3 bd · 1.0 ba · 1,165 sqft · SingleFamily public records · 12 Days on market

Built 1920 3,696 sqft lot Est $149k · 40% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Newly Renovated! Welcome to 120 Elmer this 3 bedroom 1 bath home is ready for you. Beautiful stain glass windows and double french doors open into the living room. The new updates include some new windows, vinyl plank flooring, siding, plumbing, gutters, fresh paint and doors. New furnace. Stunning new subway tile through out the updated bathroom. Plenty of off street parking. Sewer tax is $33.36 annually. Schedule your private showing today or come to the open house Saturday 10/8 1pm-3pm.

Key facts

• Full basement
• 3,696 sq ft lot
• 2 garage spots

Tags

• FULL BASEMENT
• DETACHED 2-CAR GARAGE
• EASY ACCESS TO DOWNTOWN

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 $613 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 14.5% 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: Rents flat; 237 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 38% 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 $621 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 11y 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 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,777

Questions for the listing agent

1. Built in 1920 — 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: 1.60% ✓
• Cap rate: 14.49%
• Cash-on-cash: 29.28%
• DSCR: 2.30
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $149,120
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
153 Stockbridge Ave	0.16mi	3/1.0	1,248 (+7%)	3mo	$150,000	$120	78
37 Elmer Ave	0.16mi	4/1.0 (+1)	1,327 (+14%)	0mo	$170,000	$128	64
601 Lasalle Ave	0.63mi	4/1.0 (+1)	1,188 (+2%)	1mo	$165,000	$139	61
496 Berkshire Ave	0.51mi	3/1.0	1,266 (+9%)	1mo	$125,000	$99	61
99 Fennimore Ave	0.63mi	3/1.0	1,100 (-6%)	3mo	$115,000	$105	59
59 Martha Ave	0.54mi	3/1.0	1,282 (+10%)	1mo	$149,000	$116	57
340 Shirley Ave	0.53mi	3/1.0	1,056 (-9%)	3mo	$140,000	$133	57
165 Davidson Ave	0.64mi	3/1.0	1,056 (-9%)	4mo	$145,000	$137	51
461 Stockbridge Ave	0.46mi	3/1.0	1,336 (+15%)	4mo	$96,500	$72	51
492 Hewitt Ave	0.72mi	3/1.0	1,065 (-9%)	2mo	$241,000	$226	50
622 Lasalle Ave	0.68mi	4/1.0 (+1)	1,258 (+8%)	3mo	$115,000	$91	48
190 Victoria Ave	0.68mi	4/1.5 (+1)	1,305 (+12%)	0mo	$200,000	$153	41

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: 21.2%
• Equity multiple: 1.84×
• Total profit: $21,178
• Equity at exit: $13,386

10-year hold

• IRR: 27.9%
• Equity multiple: 3.21×
• Total profit: $55,666
• Equity at exit: $7,762

Cash invested: $25,138 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,440 high
• Mortgage (P&I): −$471
• Tax from tax record: −$16 /mo · $196/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $613

Break-even live

Break-even rent $664

Max offer price $89,777

Occupancy floor 52%

Sensitivity live

Price	-10% $664	-5% $639	+0% $613	+5% $588	+10% $455
Rent	-10% $500	-5% $556	+0% $613	+5% $670	+10% $727
Rate	-1.0pp $659	-0.5pp $636	base $613	+0.5pp $590	+1.0pp $566

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: $22,444
• Closing costs: $2,693
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
140 Parkridge Ave Buffalo, NY	3.0	1.0	990	$1,500	$1.52	44d	1	0.09mi
220 Dartmouth Ave Buffalo, NY	2.0	1.0	1000	$1,100	$1.10	24d	1	0.39mi
190 Manhattan Ave Buffalo, NY	2.0	1.0	724	$1,200	$1.66	44d	1	0.46mi
263 Minnesota Ave Unit Upper Buffalo, NY	3.0	1.0	1242	$1,500	$1.21	15d	1	0.50mi
97 Davidson Ave Buffalo, NY	3.0	1.0	925	$1,495	$1.62	2d	1	0.53mi
265 Lisbon Ave Unit 2 Buffalo, NY	3.0	1.0	1200	$1,400	$1.17	44d	1	0.57mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,291	$2.24	2d	10	0.60mi
222 Lisbon Ave Buffalo, NY	4.0	1.0	1300	$1,400	$1.08	24d	1	0.60mi
222 Lisbon Ave Unit Upper Buffalo, NY	3.0	1.0	1400	$1,400	$1.00	44d	1	0.60mi
92 Lasalle Ave Unit 1 Buffalo, NY	2.0	1.0	1000	$1,150	$1.15	44d	1	0.63mi
2939 Main St Buffalo, NY	1.0–2.0	1.0–2.0	562	$1,999	$3.55	3d	1	0.66mi
189 Westminster Ave Buffalo, NY	4.0	1.5	1065	$1,595	$1.50	11d	1	0.67mi
507 Lisbon Ave Unit 2 Buffalo, NY	2.0	1.0	850	$1,050	$1.24	44d	1	0.74mi
40 Lisbon Ave Unit Upper Buffalo, NY	2.0	1.0	1057	$1,500	$1.42	11d	1	0.75mi
90 Sussex St Unit 2 Buffalo, NY	2.0	1.0	1000	$1,000	$1.00	44d	1	0.85mi
26 Custer St Buffalo, NY	2.0	1.0	1000	$1,300	$1.30	44d	1	0.87mi
74 Dorris Ave Buffalo, NY	3.0	1.0	1200	$1,450	$1.21	44d	1	0.90mi
17 Proctor Ave Unit 1 Buffalo, NY	2.0	1.0	900	$1,100	$1.22	44d	1	0.93mi
60 Englewood Ave Buffalo, NY	4.0	1.0	1400	$1,650	$1.18	2d	1	1.07mi
2532 Main St Apt 7 Buffalo, NY	2.0	1.0	850	$1,300	$1.53	44d	1	1.10mi
76 Vernon Pl Unit Upper Buffalo, NY	3.0	1.0	1190	$1,595	$1.34	15d	1	1.12mi
76 Vernon Pl Unit Lower Buffalo, NY	3.0	1.0	1190	$1,445	$1.21	15d	1	1.12mi
2 Angle St Buffalo, NY	2.0	1.0	725	$1,212	$1.67	15d	2	1.16mi
160 Courtland Ave Buffalo, NY	2.0	1.0	810	$1,025	$1.27	15d	1	1.20mi
163 Carmel Rd Buffalo, NY	3.0	1.0	1400	$1,800	$1.29	3d	1	1.27mi
249 Newburgh Ave Unit 2 Buffalo, NY	2.0	1.0	930	$1,300	$1.40	44d	1	1.34mi
61 Courtland Ave Unit Lower Buffalo, NY	2.0	1.0	1000	$1,300	$1.30	44d	1	1.40mi

Listing history 24 events

1. 2026-03-18
   status Pending
2. 2026-03-13
   historical Active Under Contract
3. 2026-03-06
   listed $89,777 Active
4. 2022-12-01
   soldstatus $135,000
5. 2022-11-16
   soldstatus $135,000 Closed Sale or Rented 494-char remark

   Show marketing remark (494 chars)

   Newly Renovated! Welcome to 120 Elmer this 3 bedroom 1 bath home is ready for you. Beautiful stain glass windows and double french doors open into the living room. The new updates include some new windows, vinyl plank flooring, siding, plumbing, gutters, fresh paint and doors. New furnace. Stunning new subway tile through out the updated bathroom. Plenty of off street parking. Sewer tax is $33.36 annually. Schedule your private showing today or come to the open house Saturday 10/8 1pm-3pm.

6. 2022-11-01
   status Pending Sale 494-char remark

   Show marketing remark (494 chars)

   Newly Renovated! Welcome to 120 Elmer this 3 bedroom 1 bath home is ready for you. Beautiful stain glass windows and double french doors open into the living room. The new updates include some new windows, vinyl plank flooring, siding, plumbing, gutters, fresh paint and doors. New furnace. Stunning new subway tile through out the updated bathroom. Plenty of off street parking. Sewer tax is $33.36 annually. Schedule your private showing today or come to the open house Saturday 10/8 1pm-3pm.

7. 2022-10-12
   status Under Contract- Do Not Show 494-char remark

   Show marketing remark (494 chars)

   Newly Renovated! Welcome to 120 Elmer this 3 bedroom 1 bath home is ready for you. Beautiful stain glass windows and double french doors open into the living room. The new updates include some new windows, vinyl plank flooring, siding, plumbing, gutters, fresh paint and doors. New furnace. Stunning new subway tile through out the updated bathroom. Plenty of off street parking. Sewer tax is $33.36 annually. Schedule your private showing today or come to the open house Saturday 10/8 1pm-3pm.

8. 2022-10-03
   listed $125,000 Active 494-char remark

   Show marketing remark (494 chars)

   Newly Renovated! Welcome to 120 Elmer this 3 bedroom 1 bath home is ready for you. Beautiful stain glass windows and double french doors open into the living room. The new updates include some new windows, vinyl plank flooring, siding, plumbing, gutters, fresh paint and doors. New furnace. Stunning new subway tile through out the updated bathroom. Plenty of off street parking. Sewer tax is $33.36 annually. Schedule your private showing today or come to the open house Saturday 10/8 1pm-3pm.

9. 2022-08-04
   soldstatus $95,000
10. 2022-08-03
    soldstatus $95,000 Closed Sale or Rented 408-char remark

    Show marketing remark (408 chars)

    Nice parcel with tons of living space. Large living room and dining room area. Nice size kitchen. Three bedrooms upstairs. Spacious sun room. Full basement. Off street parking, driveway, large back yard area, mainly fenced. Located in the university district minutes away from UB South. A little work will produce a nice home. OPEN HOUSE 6/4 11-1PM / 6/5 11-1PM CANCELED OPEN HOUSE 6/8 1-3 OFFERS DUE 6/9/22

11. 2022-06-17
    status Pending Sale 408-char remark

    Show marketing remark (408 chars)

    Nice parcel with tons of living space. Large living room and dining room area. Nice size kitchen. Three bedrooms upstairs. Spacious sun room. Full basement. Off street parking, driveway, large back yard area, mainly fenced. Located in the university district minutes away from UB South. A little work will produce a nice home. OPEN HOUSE 6/4 11-1PM / 6/5 11-1PM CANCELED OPEN HOUSE 6/8 1-3 OFFERS DUE 6/9/22

12. 2022-06-03
    listed $85,000 Active 408-char remark

    Show marketing remark (408 chars)

    Nice parcel with tons of living space. Large living room and dining room area. Nice size kitchen. Three bedrooms upstairs. Spacious sun room. Full basement. Off street parking, driveway, large back yard area, mainly fenced. Located in the university district minutes away from UB South. A little work will produce a nice home. OPEN HOUSE 6/4 11-1PM / 6/5 11-1PM CANCELED OPEN HOUSE 6/8 1-3 OFFERS DUE 6/9/22

13. 2020-09-01
    soldstatus $60,000
14. 2020-05-21
    historical
15. 2020-04-19
    price $55,000
16. 2020-02-21
    listed $52,900 Active
17. 2020-02-19
    historical
18. 2020-01-11
    price $59,900
19. 2019-11-19
    listed $64,900 Active
20. 2019-04-23
    historical
21. 2019-03-19
    price $49,900
22. 2018-12-03
    listed $52,500 Active
23. 2015-07-13
    soldstatus $17,000 Closed Sale or Rented
24. 2015-05-06
    listed $29,900

ⓘ 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: $196 · $16/mo
• Projected year-2 tax: $857 · $71/mo
• Expected delta: +$661/yr (+$55/mo · 336.7%)

ⓘ 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 3/10 Moderate 7 d/yr ≥93°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: $17,284
• − Mortgage interest: −$5,029
• − Property taxes: −$196
• − Insurance: −$449
• − Repairs & maintenance: −$1,383
• − Management: −$1,383
• − Depreciation: −$2,612
• Taxable income: $6,233
• Est. tax owed @ 24.0%: −$1,496
• After-tax cash flow: $5,864/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

+200.3% since first listed

24 events — show timeline

• 2026-03-18 Pending — UNYREIS
• 2026-03-13 Contingent — UNYREIS
• 2026-03-06 Listed $89,777 UNYREIS
• 2022-12-01 Sold (Public Records) $135,000 Public Records
• 2022-11-16 Sold (MLS) $135,000 WNYREIS
• 2022-11-01 Pending — WNYREIS
• 2022-10-12 Pending — WNYREIS
• 2022-10-03 Listed $125,000 WNYREIS
• 2022-08-04 Sold (Public Records) $95,000 Public Records
• 2022-08-03 Sold (MLS) $95,000 WNYREIS
• 2022-06-17 Pending — WNYREIS
• 2022-06-03 Listed $85,000 WNYREIS
• 2020-09-01 Sold (Public Records) $60,000 Public Records
• 2020-05-21 Listing Removed — WNYREIS
• 2020-04-19 Price Changed $55,000 WNYREIS
• 2020-02-21 Listed $52,900 WNYREIS
• 2020-02-19 Listing Removed — WNYREIS
• 2020-01-11 Price Changed $59,900 WNYREIS
• 2019-11-19 Listed $64,900 WNYREIS
• 2019-04-23 Listing Removed — WNYREIS
• 2019-03-19 Price Changed $49,900 WNYREIS
• 2018-12-03 Listed $52,500 WNYREIS
• 2015-07-13 Sold (MLS) $17,000 WNYREIS
• 2015-05-06 Listed $29,900 WNYREIS

Property tax history

+3.0%/yr

Latest (2025): $196 · +0.0% YoY. Source: county tax records.