486 Leroy Ave · Buffalo, NY 14215

$125,900

3 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 73 Days on market

Built 1920 3,875 sqft lot $101/sqft · 26% below area Est $170k · 26% 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 +25.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +6.8/10.0
• 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

VR Pricing: Seller will entertain offers in the range of $134,900-$154,900. Spacious and thoughtfully designed, this four-bedroom, two-bath home offers an impressive amount of interior living space that truly needs to be experienced in person to appreciate. With two bedrooms and one full bath on each floor, the layout provides flexibility for a variety of living arrangements. The first floor features tall ceilings that enhance the sense of openness throughout the main living and dining areas, along with an eat-in kitchen that offers ample room for everyday dining. Upstairs, you’ll find two additional bedrooms, a second full bath, and a generous family room, creating an upper-level retreat. The second floor also showcases unique architectural details that add character and visual interest to the space. Conveniently located directly across from the Arthur O. Eve School of Distinction, the property is just minutes from ECMC Hospital and offers easy access to the Route 33 expressway via the Grider Street entrance, making commuting straightforward. A home with substantial square footage, flexible living areas, and architectural character in a well-connected location. The driveway is shared with an easement to the neighboring house to the East for access to their parking area. The garage is situated 10ft within the boundary of the East neighboring property and within 24ft of the subject property boundary. Sold "As is" seller will not do any repairs to the property resulting from a home inspection or appraisal.

Key facts

• Tall ceilings
• Eat-in kitchen
• 3,875 sq ft lot

Tags

• INTERIOR LIVING SPACE
• EAT-IN KITCHEN
• FLEXIBLE LIVING ARRANGEMENTS
• TALL CEILINGS
• UNIQUE ARCHITECTURAL DETAILS
• WELL-CONNECTED LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $126k.

Deal economics

• At list price, monthly cash flow is $301 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $126k).
• Recommended offer: $118k (6.0% below list) — sets the bar for market timing.

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; 38 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 40% 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 $870 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $9k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $118,346 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 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 1920 — 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: 1.18% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.26%
• DSCR: 1.46
• GRM: 7.1

CMA / ARV

• ARV (median comp): $169,997
• List price: $125,900
• Delta: -25.94%
• 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
190 Victoria Ave	0.29mi	4/1.5 (+1)	1,305 (+5%)	0mo	$200,000	$153	71
153 Stockbridge Ave	0.69mi	3/1.0	1,248 (0%)	3mo	$150,000	$120	65
635 Norfolk Ave	0.41mi	3/1.0	1,340 (+7%)	5mo	$172,500	$129	64
226 Olympic Ave	0.53mi	3/2.0	1,223 (-2%)	6mo	$195,000	$159	63
37 Elmer Ave	0.50mi	4/1.0 (+1)	1,327 (+6%)	0mo	$170,000	$128	61
28 Alma Ave	0.64mi	3/1.0	1,210 (-3%)	6mo	$77,000	$64	60
28 Victoria Ave	0.57mi	4/1.5 (+1)	1,320 (+6%)	4mo	$160,000	$121	53
559 E Amherst St	0.73mi	4/2.0 (+1)	1,274 (+2%)	6mo	$182,000	$143	48
48 Dorris Ave	0.71mi	4/1.0 (+1)	1,160 (-7%)	6mo	$35,000	$30	46
118 E Morris Ave	0.62mi	2/1.5 (-1)	1,112 (-11%)	4mo	$170,000	$153	43
90 Alma Ave	0.74mi	2/2.0 (-1)	1,360 (+9%)	3mo	$105,000	$77	39
323 Grider St	0.66mi	4/2.0 (+1)	1,418 (+14%)	1mo	$128,000	$90	37

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: -3.6%
• Equity multiple: 0.87×
• Total profit: $-4,585
• Equity at exit: $18,772

10-year hold

• IRR: 3.3%
• Equity multiple: 1.21×
• Total profit: $7,505
• Equity at exit: $10,886

Cash invested: $35,252 (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: 7.1×

Monthly cashflow live

• Estimated rent: $1,483 high
• Mortgage (P&I): −$660
• Tax est. 1.5%: −$157 /mo · $1,888/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $301

Break-even live

Break-even rent $1,101

Max offer price $125,900

Occupancy floor 75%

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: $31,475
• Closing costs: $3,777
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
190 Manhattan Ave Buffalo, NY	2.0	1.0	724	$1,200	$1.66	43d	1	0.38mi
90 Sussex St Unit 2 Buffalo, NY	2.0	1.0	1000	$1,000	$1.00	43d	1	0.39mi
140 Parkridge Ave Buffalo, NY	3.0	1.0	990	$1,500	$1.52	43d	1	0.47mi
74 Dorris Ave Buffalo, NY	3.0	1.0	1200	$1,450	$1.21	43d	1	0.74mi
2532 Main St Apt 7 Buffalo, NY	2.0	1.0	850	$1,300	$1.53	43d	1	0.80mi
2939 Main St Buffalo, NY	1.0–2.0	1.0–2.0	562	$1,999	$3.55	3d	1	0.84mi
17 Proctor Ave Unit 1 Buffalo, NY	2.0	1.0	900	$1,100	$1.22	43d	1	0.84mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,291	$2.24	1d	10	0.86mi
76 Vernon Pl Unit Lower Buffalo, NY	3.0	1.0	1190	$1,445	$1.21	14d	1	0.87mi
76 Vernon Pl Unit Upper Buffalo, NY	3.0	1.0	1190	$1,595	$1.34	14d	1	0.87mi
97 Davidson Ave Buffalo, NY	3.0	1.0	925	$1,495	$1.62	1d	1	0.91mi
220 Dartmouth Ave Buffalo, NY	2.0	1.0	1000	$1,100	$1.10	23d	1	0.93mi
92 Lasalle Ave Unit 1 Buffalo, NY	2.0	1.0	1000	$1,150	$1.15	43d	1	0.94mi
263 Minnesota Ave Unit Upper Buffalo, NY	3.0	1.0	1242	$1,500	$1.21	14d	1	0.98mi
265 Lisbon Ave Unit 2 Buffalo, NY	3.0	1.0	1200	$1,400	$1.17	43d	1	1.06mi
222 Lisbon Ave Unit Upper Buffalo, NY	3.0	1.0	1400	$1,400	$1.00	43d	1	1.07mi
222 Lisbon Ave Buffalo, NY	4.0	1.0	1300	$1,400	$1.08	23d	1	1.07mi
40 Lisbon Ave Unit Upper Buffalo, NY	2.0	1.0	1057	$1,500	$1.42	11d	1	1.08mi
189 Westminster Ave Buffalo, NY	4.0	1.5	1065	$1,595	$1.50	10d	1	1.16mi
160 Courtland Ave Buffalo, NY	2.0	1.0	810	$1,025	$1.27	14d	1	1.17mi
26 Custer St Buffalo, NY	2.0	1.0	1000	$1,300	$1.30	43d	1	1.18mi
249 Newburgh Ave Unit 2 Buffalo, NY	2.0	1.0	930	$1,300	$1.40	43d	1	1.23mi
507 Lisbon Ave Unit 2 Buffalo, NY	2.0	1.0	850	$1,050	$1.24	43d	1	1.28mi
61 Courtland Ave Unit Lower Buffalo, NY	2.0	1.0	1000	$1,300	$1.30	43d	1	1.32mi
121 Humboldt Pkwy Unit B Buffalo, NY	2.0	1.0	1265	$1,750	$1.38	43d	1	1.35mi
117 Humboldt Pkwy Unit A Buffalo, NY	3.0	1.0	1105	$2,300	$2.08	43d	1	1.36mi
117 Humboldt Pkwy Unit B Buffalo, NY	2.0	1.0	840	$1,850	$2.20	43d	1	1.36mi
179 Donaldson Rd Buffalo, NY	3.0	1.0	1152	$1,350	$1.17	3d	1	1.37mi
107 Humboldt Pkwy Unit A Buffalo, NY	2.0	1.0	1172	$1,995	$1.70	43d	1	1.37mi
2 Angle St Buffalo, NY	2.0	1.0	725	$1,212	$1.67	14d	2	1.41mi
2 Agassiz Cir Unit B Buffalo, NY	2.0	1.0	983	$2,050	$2.09	23d	1	1.42mi
2 Agassiz Cir Unit A Buffalo, NY	2.0	1.0	1076	$2,150	$2.00	23d	1	1.42mi
163 Carmel Rd Buffalo, NY	3.0	1.0	1400	$1,800	$1.29	2d	1	1.42mi
85 Blake St Unit 1 Buffalo, NY	4.0	2.0	1022	$1,000	$0.98	43d	1	1.43mi
60 Englewood Ave Buffalo, NY	4.0	1.0	1400	$1,650	$1.18	1d	1	1.44mi
408 Winslow Ave Unit 2 Buffalo, NY	3.0	1.0	1000	$1,050	$1.05	14d	1	1.46mi
184 Butler Ave Unit 1545840P Buffalo, NY	4.0	1.0	1496	$3,226	$2.16	14d	1	1.48mi
56 Hagen St #2 Buffalo, NY	2.0	1.0	850	$950	$1.12	43d	1	1.48mi

Listing history 9 events

1. 2026-04-14
   price $125,900 1548-char remark

   Show marketing remark (1548 chars)

   VR Pricing: Seller will entertain offers in the range of $134,900-$154,900. Spacious and thoughtfully designed, this four-bedroom, two-bath home offers an impressive amount of interior living space that truly needs to be experienced in person to appreciate. With two bedrooms and one full bath on each floor, the layout provides flexibility for a variety of living arrangements. The first floor features tall ceilings that enhance the sense of openness throughout the main living and dining areas, along with an eat-in kitchen that offers ample room for everyday dining. Upstairs, you’ll find two additional bedrooms, a second full bath, and a generous family room, creating an upper-level retreat. The second floor also showcases unique architectural details that add character and visual interest to the space. Conveniently located directly across from the Arthur O. Eve School of Distinction, the property is just minutes from ECMC Hospital and offers easy access to the Route 33 expressway via the Grider Street entrance, making commuting straightforward. A home with substantial square footage, flexible living areas, and architectural character in a well-connected location. The driveway is shared with an easement to the neighboring house to the East for access to their parking area. The garage is situated 10ft within the boundary of the East neighboring property and within 24ft of the subject property boundary. Sold "As is" seller will not do any repairs to the property resulting from a home inspection or appraisal.

2. 2026-04-14
   status Active 1548-char remark

   Show marketing remark (1548 chars)

   VR Pricing: Seller will entertain offers in the range of $134,900-$154,900. Spacious and thoughtfully designed, this four-bedroom, two-bath home offers an impressive amount of interior living space that truly needs to be experienced in person to appreciate. With two bedrooms and one full bath on each floor, the layout provides flexibility for a variety of living arrangements. The first floor features tall ceilings that enhance the sense of openness throughout the main living and dining areas, along with an eat-in kitchen that offers ample room for everyday dining. Upstairs, you’ll find two additional bedrooms, a second full bath, and a generous family room, creating an upper-level retreat. The second floor also showcases unique architectural details that add character and visual interest to the space. Conveniently located directly across from the Arthur O. Eve School of Distinction, the property is just minutes from ECMC Hospital and offers easy access to the Route 33 expressway via the Grider Street entrance, making commuting straightforward. A home with substantial square footage, flexible living areas, and architectural character in a well-connected location. The driveway is shared with an easement to the neighboring house to the East for access to their parking area. The garage is situated 10ft within the boundary of the East neighboring property and within 24ft of the subject property boundary. Sold "As is" seller will not do any repairs to the property resulting from a home inspection or appraisal.

3. 2026-04-09
   status Pending 1548-char remark

   Show marketing remark (1548 chars)

   VR Pricing: Seller will entertain offers in the range of $134,900-$154,900. Spacious and thoughtfully designed, this four-bedroom, two-bath home offers an impressive amount of interior living space that truly needs to be experienced in person to appreciate. With two bedrooms and one full bath on each floor, the layout provides flexibility for a variety of living arrangements. The first floor features tall ceilings that enhance the sense of openness throughout the main living and dining areas, along with an eat-in kitchen that offers ample room for everyday dining. Upstairs, you’ll find two additional bedrooms, a second full bath, and a generous family room, creating an upper-level retreat. The second floor also showcases unique architectural details that add character and visual interest to the space. Conveniently located directly across from the Arthur O. Eve School of Distinction, the property is just minutes from ECMC Hospital and offers easy access to the Route 33 expressway via the Grider Street entrance, making commuting straightforward. A home with substantial square footage, flexible living areas, and architectural character in a well-connected location. The driveway is shared with an easement to the neighboring house to the East for access to their parking area. The garage is situated 10ft within the boundary of the East neighboring property and within 24ft of the subject property boundary. Sold "As is" seller will not do any repairs to the property resulting from a home inspection or appraisal.

4. 2026-03-03
   listed $134,900 Active 1548-char remark

   Show marketing remark (1548 chars)

   VR Pricing: Seller will entertain offers in the range of $134,900-$154,900. Spacious and thoughtfully designed, this four-bedroom, two-bath home offers an impressive amount of interior living space that truly needs to be experienced in person to appreciate. With two bedrooms and one full bath on each floor, the layout provides flexibility for a variety of living arrangements. The first floor features tall ceilings that enhance the sense of openness throughout the main living and dining areas, along with an eat-in kitchen that offers ample room for everyday dining. Upstairs, you’ll find two additional bedrooms, a second full bath, and a generous family room, creating an upper-level retreat. The second floor also showcases unique architectural details that add character and visual interest to the space. Conveniently located directly across from the Arthur O. Eve School of Distinction, the property is just minutes from ECMC Hospital and offers easy access to the Route 33 expressway via the Grider Street entrance, making commuting straightforward. A home with substantial square footage, flexible living areas, and architectural character in a well-connected location. The driveway is shared with an easement to the neighboring house to the East for access to their parking area. The garage is situated 10ft within the boundary of the East neighboring property and within 24ft of the subject property boundary. Sold "As is" seller will not do any repairs to the property resulting from a home inspection or appraisal.

5. 2025-07-25
   listed $149,900 Active
6. 2025-05-31
   historical
7. 2025-03-15
   price $164,900
8. 2025-02-08
   listed $169,900 Active
9. 2020-11-24
   soldstatus $545,000

ⓘ 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 ≥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: $17,793
• − Mortgage interest: −$7,052
• − Property taxes: −$1,888
• − Insurance: −$630
• − Repairs & maintenance: −$1,423
• − Management: −$1,423
• − Depreciation: −$3,663
• Taxable income: $1,713
• Est. tax owed @ 24.0%: −$411
• After-tax cash flow: $3,205/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

-76.9% since first listed

9 events — show timeline

• 2026-04-14 Price Changed $125,900 WNYREIS
• 2026-04-14 Relisted — WNYREIS
• 2026-04-09 Pending — WNYREIS
• 2026-03-03 Listed $134,900 WNYREIS
• 2025-07-25 Listed $149,900 WNYREIS
• 2025-05-31 Listing Removed — WNYREIS
• 2025-03-15 Price Changed $164,900 WNYREIS
• 2025-02-08 Listed $169,900 WNYREIS
• 2020-11-24 Sold (Public Records) $545,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $202 · +0.0% YoY. Source: county tax records.