185 Ramsdell Ave · Buffalo, NY 14216

$319,900

4 bd · 2.0 ba · 2,584 sqft · MultiFamily public records · 10 Days on market

Built 1920 6,370 sqft lot Est $367k · 13% under

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Why this score? — see what drove the C 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 +21.8/30.0
• ARV discount +13.3/15.0
• DSCR +7.0/10.0
• 1% rule +4.4/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Meticulously maintained 2 Unit blocks from all local amenities. Same owner occupant for 29 years. 2 car garage, large fenced yard, and deck. New carpeting with original hardwoods beneath, open kitchen / dining area in upper, exposed hardwoods in lower unit. Brand new front picture windows ‘19. Updated electric. Bone dry basement, new drainage system/waterproofing and sump pump ‘18/’19. Bright, clean, move in ready. Showings begin at open house Sat 5/4 10-12 and Sun 5/5 1-3

Key facts

• Finished attic
• Raised deck
• Gated driveway

Tags

• RAISED DECK
• FINISHED ATTIC
• GATED DRIVEWAY
• LARGE TWO-CAR GARAGE
• MAINTENANCE-FREE EXTERIOR
• NEW SEWER DRAINAGE SYSTEM

Property features AI

Finance

• Other: Two total units; Each unit has separate gas and electric meters
• Financial info: Owner pays water; Rent includes water; Operating expenses include water/sewer (see remarks)

Exterior

• Parking: Attached garage with two spaces
• Utilities: Public water (connected); Sewer connected
• Home design: Two-story multi-family property; Resale condition
• Construction: Vinyl siding
• Exterior features: Deck; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Dining area with kitchen (each unit)
• Bedrooms: Two bedrooms (each unit)
• Flooring: Carpet; Ceramic tile; Hardwood; Laminate; Varies
• Bathrooms: Two full bathrooms (one per unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Dining area with kitchen; Formal dining room; Living room
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $320k.

Deal economics

• At list price, monthly cash flow is $498 ($6k/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 $300k (6.2% below list).
• Recommended offer: $300k (6.2% below list) — sets the bar for 1% rule.

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 rising (+3.6%/yr); 88 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,000/mo this rent would consume 52% of the median local household income ($70k/yr) (locally 1831% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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.
• Current owner paid $202k; list at $320k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $300,000 (6.2% below list)

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 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: 0.94% ✗
• Cap rate: 8.16%
• Cash-on-cash: 6.67%
• DSCR: 1.30
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $366,928
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
29 Ramsdell Ave	0.30mi	4/3.0	2,410 (-7%)	12mo	$362,520	$150	60
312 Victoria Blvd	0.47mi	5/2.0 (+1)	2,302 (-11%)	1mo	$320,000	$139	54
284 Hartwell Rd	0.63mi	5/2.0 (+1)	2,636 (+2%)	13mo	$375,000	$142	51
207 Lasalle Ave	0.24mi	5/3.0 (+1)	2,384 (-8%)	22mo	$300,000	$126	49
378 Wabash Ave	0.63mi	5/2.0 (+1)	2,299 (-11%)	13mo	$285,000	$124	37
137 Delaware Rd	0.71mi	5/2.0 (+1)	2,288 (-12%)	11mo	$355,000	$155	34

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 · 3.65% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.80×
• Total profit: $-18,312
• Equity at exit: $47,698

10-year hold

• IRR: 4.8%
• Equity multiple: 1.36×
• Total profit: $32,440
• Equity at exit: $27,659

Cash invested: $89,572 (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 14216

• Rents YoY: 3.6%
• Active inventory: 88
• Price-to-rent: 17.8×

Monthly cashflow live

• Estimated rent: $3,000 high
• Mortgage (P&I): −$1,678
• Tax from tax record: −$61 /mo · $734/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$630
• Net cashflow: $498

Break-even live

Break-even rent $2,370

Max offer price $319,900

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,000
Total (2 units)			$3,000

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: $79,975
• Closing costs: $9,597
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
359 Colvin Ave Buffalo, NY	3.0	1.0	2010	$2,100	$1.04	23d	1	1.06mi
88 Commonwealth Ave Buffalo, NY	3.0	1.0	2710	$1,695	$0.63	11d	1	1.06mi
309 N Park Ave Buffalo, NY	3.0	1.0	2560	$1,750	$0.68	14d	1	1.14mi
351 Stillwell Ave Buffalo, NY	3.0	1.0	2586	$1,800	$0.70	23d	1	1.31mi
78 Germain St Buffalo, NY	3.0	1.0	2030	$1,300	$0.64	14d	1	1.42mi

Listing history 6 events

1. 2026-05-16
   listed $319,900 Active
2. 2019-06-19
   soldstatus $202,500 Closed Sale or Rented 496-char remark

   Show marketing remark (496 chars)

   Meticulously maintained 2 Unit blocks from all local amenities. Same owner occupant for 29 years. 2 car garage, large fenced yard, and deck. New carpeting with original hardwoods beneath, open kitchen / dining area in upper, exposed hardwoods in lower unit. Brand new front picture windows ‘19. Updated electric. Bone dry basement, new drainage system/waterproofing and sump pump ‘18/’19. Bright, clean, move in ready. Showings begin at open house Sat 5/4 10-12 and Sun 5/5 1-3

3. 2019-06-19
   soldstatus $202,500

   Show marketing remark (496 chars)

   Meticulously maintained 2 Unit blocks from all local amenities. Same owner occupant for 29 years. 2 car garage, large fenced yard, and deck. New carpeting with original hardwoods beneath, open kitchen / dining area in upper, exposed hardwoods in lower unit. Brand new front picture windows ‘19. Updated electric. Bone dry basement, new drainage system/waterproofing and sump pump ‘18/’19. Bright, clean, move in ready. Showings begin at open house Sat 5/4 10-12 and Sun 5/5 1-3

4. 2019-05-16
   status Pending Sale 496-char remark

   Show marketing remark (496 chars)

   Meticulously maintained 2 Unit blocks from all local amenities. Same owner occupant for 29 years. 2 car garage, large fenced yard, and deck. New carpeting with original hardwoods beneath, open kitchen / dining area in upper, exposed hardwoods in lower unit. Brand new front picture windows ‘19. Updated electric. Bone dry basement, new drainage system/waterproofing and sump pump ‘18/’19. Bright, clean, move in ready. Showings begin at open house Sat 5/4 10-12 and Sun 5/5 1-3

5. 2019-05-09
   status Under Contract- Do Not Show 496-char remark

   Show marketing remark (496 chars)

   Meticulously maintained 2 Unit blocks from all local amenities. Same owner occupant for 29 years. 2 car garage, large fenced yard, and deck. New carpeting with original hardwoods beneath, open kitchen / dining area in upper, exposed hardwoods in lower unit. Brand new front picture windows ‘19. Updated electric. Bone dry basement, new drainage system/waterproofing and sump pump ‘18/’19. Bright, clean, move in ready. Showings begin at open house Sat 5/4 10-12 and Sun 5/5 1-3

6. 2019-05-01
   listed $174,500 Active 496-char remark

   Show marketing remark (496 chars)

   Meticulously maintained 2 Unit blocks from all local amenities. Same owner occupant for 29 years. 2 car garage, large fenced yard, and deck. New carpeting with original hardwoods beneath, open kitchen / dining area in upper, exposed hardwoods in lower unit. Brand new front picture windows ‘19. Updated electric. Bone dry basement, new drainage system/waterproofing and sump pump ‘18/’19. Bright, clean, move in ready. Showings begin at open house Sat 5/4 10-12 and Sun 5/5 1-3

ⓘ 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: $734 · $61/mo
• Projected year-2 tax: $3,070 · $256/mo
• Expected delta: +$2,336/yr (+$195/mo · 318.2%)

ⓘ 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 ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,000
• − Mortgage interest: −$17,919
• − Property taxes: −$734
• − Insurance: −$1,600
• − Repairs & maintenance: −$2,880
• − Management: −$2,880
• − Depreciation: −$9,306
• Taxable income: $681
• Est. tax owed @ 24.0%: −$163
• After-tax cash flow: $5,812/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): 22,849
• Household income: $69,629
• Rent vs Own: 54.4% rent · 45.6% own
• Severe rent burden: 1831.0

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 White (72%)
• Race & ethnicity: White 72% Black 16% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 10% Iranian 2% Lithuanian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 90% English-only · Spanish 5% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -264.53%
• Current HPI: 421.1138
• Rent YoY: ▲ 3.65%
• 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

+83.3% since first listed

6 events — show timeline

• 2026-05-16 Listed $319,900 WNYREIS
• 2019-06-19 Sold (Public Records) $202,500 Public Records
• 2019-06-19 Sold (MLS) $202,500 WNYREIS
• 2019-05-16 Pending — WNYREIS
• 2019-05-09 Pending — WNYREIS
• 2019-05-01 Listed $174,500 WNYREIS

Property tax history

+2.3%/yr

Latest (2025): $734 · +0.0% YoY. Source: county tax records.