610 Ontario St · Buffalo, NY 14207

$259,900

6 bd · 2.0 ba · 2,184 sqft · MultiFamily public records · 21 Days on market

Built 1920 3,360 sqft lot $119/sqft · 29% below area Est $365k · 29% 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 +27.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +6.2/10.0
• Rent growth +4.5/5.0
• Livability +3.9/5.0
• 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

Welcome to 610 Ontario Street, a fully updated multi-family property located in Buffalo’s Riverside neighborhood. This beautifully remodeled 3/3 double offers the perfect blend of modern updates and strong investment potential. Each unit features 3 bedrooms and 1 full bathroom, thoughtfully updated with today’s buyer in mind. Recent renovations include new vinyl plank flooring throughout, fresh paint, updated fixtures, and improvements to major systems, providing a truly move-in-ready experience for both owners and tenants. The property has been extensively improved inside and out, including updated plumbing, electrical, and exterior enhancements, making it a solid, low-maintena

Key facts

• Fresh paint
• Modern updates
• Remodeled double

Tags

• MULTI-FAMILY PROPERTY
• REMODELED DOUBLE
• MODERN UPDATES
• STRONG INVESTMENT POTENTIAL
• VINYL PLANK FLOORING
• FRESH PAINT

Property features AI

Finance

• Other: Two total units in the building; Two units in the community
• Financial info: Operating expenses include insurance and utilities (see remarks); Tenant pays all utilities

Exterior

• Parking: Garage available (1 space); Additional parking: two or more spaces
• Utilities: Public water connected; Sewer connected
• Home design: 2-story multi-family (2 units); Residential 2-unit zoning; Resale property
• Construction: Frame construction; Existing structure
• Exterior features: Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas water heater
• Bedrooms: Each unit has 3 bedrooms
• Flooring: Ceramic tile; Hardwood; Luxury vinyl; Tile; Vinyl; Varies
• Bathrooms: Each unit has 1 full bathroom (2 full bathrooms total)
• Heating & cooling: Gas heating (natural gas); Stove heating option
• Interior features: Full basement; Dining area combined with living room
• Laundry & utility: Separate gas meters for each unit; Separate electric meters for each unit

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $260k.

Deal economics

• At list price, monthly cash flow is $785 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Recommended offer: $256k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 8.0% in Buffalo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 fast (+8.2%/yr); 197 active listings in the ZIP; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,912/mo this rent would consume 88% of the median local household income ($40k/yr) (locally 2177% 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 $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $73k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.
• 4 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.
• Current owner paid $35k; list at $260k implies a 643% 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 $256,001 (1.5% 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: 1.12% ✓
• Cap rate: 9.92%
• Cash-on-cash: 12.95%
• DSCR: 1.58
• GRM: 7.4

CMA / ARV

• ARV (median comp): $364,702
• List price: $259,900
• Delta: -28.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
74 Philadelphia St	0.19mi	6/2.0	2,160 (-1%)	5mo	$170,000	$79	85
129 Philadelphia St	0.21mi	6/2.0	2,292 (+5%)	9mo	$250,000	$109	74
311 Newfield St	0.44mi	6/2.0	2,129 (-2%)	6mo	$215,000	$101	70
301 Roesch Ave	0.32mi	6/2.0	2,000 (-8%)	6mo	$250,000	$125	66
102 Ullman St	0.53mi	5/2.0 (-1)	2,098 (-4%)	3mo	$165,000	$79	61
908 Tonawanda St	0.72mi	6/2.0	2,332 (+7%)	2mo	$145,000	$62	53
50 Argus St	0.40mi	5/2.0 (-1)	2,009 (-8%)	12mo	$230,000	$114	53
312 Victoria Blvd	0.70mi	5/2.0 (-1)	2,302 (+5%)	1mo	$320,000	$139	52
101 Baxter St	0.64mi	6/2.0	2,000 (-8%)	5mo	$140,000	$70	52
395 Ontario St	0.42mi	5/2.0 (-1)	1,908 (-13%)	8mo	$270,000	$142	48
68 Baxter St	0.64mi	6/2.0	2,430 (+11%)	5mo	$165,000	$68	47
27 Baxter St	0.61mi	5/2.0 (-1)	2,028 (-7%)	11mo	$215,000	$106	46

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 7.7%
• Equity multiple: 1.32×
• Total profit: $23,156
• Equity at exit: $38,752

10-year hold

• IRR: 20.6%
• Equity multiple: 3.12×
• Total profit: $154,081
• Equity at exit: $22,471

Cash invested: $72,772 (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 14207

• Home prices YoY: -18.9%
• Rents YoY: 8.2%
• Active inventory: 197
• Price-to-rent: 14.9×

Monthly cashflow live

• Estimated rent: $2,912 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$44 /mo · $528/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$612
• Net cashflow: $785

Break-even live

Break-even rent $1,918

Max offer price $259,900

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,912
Total (2 units)			$2,912

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-05-15
   status Pending 1285-char remark
2. 2026-04-24
   listed $259,900 Active 1285-char remark
3. 2020-02-19
   historical
4. 2019-12-18
   price $94,900
5. 2019-10-23
   price $99,900
6. 2019-06-14
   status Active
7. 2019-06-05
   status Pending Sale
8. 2019-06-02
   listed $129,000 Active
9. 2016-01-01
   historical
10. 2015-10-25
    price $75,000
11. 2015-10-14
    price $79,900
12. 2015-09-24
    price $89,900
13. 2015-09-03
    listed $99,900 Active
14. 2014-08-27
    soldstatus $35,000
15. 1997-12-09
    soldstatus $25,000

ⓘ 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: $528 · $44/mo
• Projected year-2 tax: $2,460 · $205/mo
• Expected delta: +$1,932/yr (+$161/mo · 365.6%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,944
• − Mortgage interest: −$14,558
• − Property taxes: −$528
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,796
• − Management: −$2,796
• − Depreciation: −$7,561
• Taxable income: $5,406
• Est. tax owed @ 24.0%: −$1,297
• After-tax cash flow: $8,125/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): 26,327
• Household income: $39,753
• Rent vs Own: 65.0% rent · 35.0% own
• Severe rent burden: 2177.0

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: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: White 40% Hispanic / Latino 23% Black 16% Asian 15% Two or more races 14%
• Hispanic origin (detail): Puerto Rican 18% Dominican 2%
• Common ancestry: Romanian 8% Portuguese 1% Arab 1%
• Foreign-born: 19% · Philippines, Canada, India
• Languages at home: 65% English-only · Spanish 14% Other Asian/Pacific 10% Other Indo-European 5%

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: ▼ -54.42%
• Current HPI: 233.0902
• Rent YoY: ▲ 8.19%
• 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

+939.6% since first listed

15 events — show timeline

• 2026-05-15 Pending — WNYREIS
• 2026-04-24 Listed $259,900 WNYREIS
• 2020-02-19 Listing Removed — WNYREIS
• 2019-12-18 Price Changed $94,900 WNYREIS
• 2019-10-23 Price Changed $99,900 WNYREIS
• 2019-06-14 Relisted — WNYREIS
• 2019-06-05 Pending — WNYREIS
• 2019-06-02 Listed $129,000 WNYREIS
• 2016-01-01 Listing Removed — WNYREIS
• 2015-10-25 Price Changed $75,000 WNYREIS
• 2015-10-14 Price Changed $79,900 WNYREIS
• 2015-09-24 Price Changed $89,900 WNYREIS
• 2015-09-03 Listed $99,900 WNYREIS
• 2014-08-27 Sold (Public Records) $35,000 Public Records
• 1997-12-09 Sold (Public Records) $25,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $528 · +49.6% YoY. Source: county tax records.