52 Wade Ave · Buffalo, NY 14214

$120,000

4 bd · 1.0 ba · 1,320 sqft · SingleFamily public records · 7 Days on market

Built 1925 3,484 sqft lot Est $193k · 38% 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
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This home offers a great opportunity for someone looking to take on a project. Located on a quiet street in Fillmore/Leroy. The property features a traditional layout with 3 bedrooms and one bathroom upstairs. Whether you're looking to renovate and move in, rent it out, or resell, this property gives you a solid starting point. Being sold as-is.

Key facts

• 3,484 sq ft lot
• Built 1925
• Listed 7 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $609 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 12.4% 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 rising fast (+5.8%/yr); 90 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 38% of the median local income ($58k/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 $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $30k; list at $120k implies a 300% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1925 — 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: 1.52% ✓
• Cap rate: 12.38%
• Cash-on-cash: 21.74%
• DSCR: 1.97
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $192,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
28 Victoria Ave	0.13mi	4/1.5	1,320 (0%)	4mo	$160,000	$121	88
18 Wade Ave	0.06mi	4/1.0	1,370 (+4%)	9mo	$180,000	$131	83
190 Victoria Ave	0.29mi	4/1.5	1,305 (-1%)	0mo	$200,000	$153	82
67 Wade Ave	0.04mi	4/2.0	1,375 (+4%)	13mo	$182,000	$132	76
86 Wade Ave	0.06mi	3/1.0 (-1)	1,276 (-3%)	18mo	$200,000	$157	72
374 Dewey Ave	0.44mi	3/1.5 (-1)	1,304 (-1%)	10mo	$238,000	$183	62
40 Federal Ave	0.60mi	4/1.0	1,375 (+4%)	11mo	$152,000	$111	56
22 Fairfield Ave	0.26mi	3/1.0 (-1)	1,512 (+14%)	6mo	$220,000	$146	54
138 Greenfield St	0.40mi	3/1.0 (-1)	1,468 (+11%)	7mo	$385,000	$262	52
31 Worcester Pl	0.50mi	5/1.0 (+1)	1,452 (+10%)	9mo	$105,000	$72	47
33 Palos Pl	0.68mi	3/1.0 (-1)	1,248 (-6%)	18mo	$170,000	$136	39
27 Taft Pl	0.74mi	4/2.0	1,456 (+10%)	11mo	$335,000	$230	35

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 · 5.81% rent growth · sell at horizon

5-year hold

• IRR: 17.5%
• Equity multiple: 1.73×
• Total profit: $24,645
• Equity at exit: $17,892

10-year hold

• IRR: 27.9%
• Equity multiple: 3.81×
• Total profit: $94,497
• Equity at exit: $10,375

Cash invested: $33,600 (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 14214

• Rents YoY: 5.8%
• Active inventory: 90
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,820 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $609

Break-even live

Break-even rent $1,050

Max offer price $120,000

Occupancy floor 62%

Sensitivity live

Price	-10% $692	-5% $650	+0% $609	+5% $567	+10% $526
Rent	-10% $465	-5% $537	+0% $609	+5% $681	+10% $753
Rate	-1.0pp $669	-0.5pp $639	base $609	+0.5pp $578	+1.0pp $546

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
76 Vernon Pl Unit Upper Buffalo, NY	3.0	1.0	1190	$1,595	$1.34	15d	1	0.29mi
76 Vernon Pl Unit Lower Buffalo, NY	3.0	1.0	1190	$1,445	$1.21	15d	1	0.29mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,997	$2.93	2d	10	0.75mi
140 Parkridge Ave Buffalo, NY	3.0	1.0	990	$1,500	$1.52	44d	1	0.78mi
117 Humboldt Pkwy Unit A Buffalo, NY	3.0	1.0	1105	$2,300	$2.08	44d	1	1.00mi
163 Carmel Rd Buffalo, NY	3.0	1.0	1400	$1,800	$1.29	3d	1	1.05mi
263 Minnesota Ave Unit Upper Buffalo, NY	3.0	1.0	1242	$1,500	$1.21	15d	1	1.08mi
65 Northrup Pl Buffalo, NY	5.0	2.0	1467	$2,500	$1.70	15d	1	1.09mi
222 Lisbon Ave Buffalo, NY	4.0	1.0	1300	$1,400	$1.08	24d	1	1.12mi
222 Lisbon Ave Unit Upper Buffalo, NY	3.0	1.0	1400	$1,400	$1.00	44d	1	1.12mi
265 Lisbon Ave Unit 2 Buffalo, NY	3.0	1.0	1200	$1,400	$1.17	44d	1	1.16mi
60 Englewood Ave Buffalo, NY	4.0	1.0	1400	$1,650	$1.18	2d	1	1.29mi
74 Dorris Ave Buffalo, NY	3.0	1.0	1200	$1,450	$1.21	44d	1	1.31mi
179 Donaldson Rd Buffalo, NY	3.0	1.0	1152	$1,350	$1.17	4d	1	1.34mi
414 Taunton Pl Unit Lowet Buffalo, NY	3.0	1.0	1232	$1,700	$1.38	15d	1	1.37mi
97 Davidson Ave Buffalo, NY	3.0	1.0	925	$1,495	$1.62	2d	1	1.37mi
307 Sterling Ave Buffalo, NY	3.0	1.0	1632	$1,800	$1.10	4d	1	1.38mi
79 Commonwealth Ave Buffalo, NY	3.0	1.0	1450	$1,600	$1.10	24d	1	1.42mi
88 Commonwealth Ave Buffalo, NY	3.0	1.0	1355	$1,695	$1.25	20d	1	1.46mi
102 Florida St Buffalo, NY	3.0	1.0	1296	$1,650	$1.27	44d	1	1.47mi
184 Butler Ave Unit 1545840P Buffalo, NY	4.0	1.0	1496	$3,226	$2.16	15d	1	1.48mi

Listing history 6 events

1. 2025-12-01
   status Pending
2. 2025-11-24
   listed $120,000 Active
3. 2025-05-27
   status Pending
4. 2025-05-27
   historical
5. 2025-03-25
   listed $140,000 Active
6. 1994-03-18
   soldstatus $30,000

ⓘ 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 2/10 Low 7 d/yr ≥93°F today · 14 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: $21,844
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,747
• − Management: −$1,747
• − Depreciation: −$3,491
• Taxable income: $5,736
• Est. tax owed @ 24.0%: −$1,377
• After-tax cash flow: $5,928/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): 21,314
• Household income: $58,228
• Rent vs Own: 57.7% rent · 42.3% own
• Severe rent burden: 1820.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 47% Black 31% Asian 11% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 5% Lithuanian 2% Scotch-Irish 1%
• Foreign-born: 14% · Canada, China
• Languages at home: 81% English-only · Other Indo-European 7% Spanish 4% Other Asian/Pacific 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: ▼ -282.52%
• Current HPI: 373.377
• Rent YoY: ▲ 5.81%
• 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

+300.0% since first listed

6 events — show timeline

• 2025-12-01 Pending — WNYREIS
• 2025-11-24 Listed $120,000 WNYREIS
• 2025-05-27 Pending — WNYREIS
• 2025-05-27 Listing Removed — WNYREIS
• 2025-03-25 Listed $140,000 WNYREIS
• 1994-03-18 Sold (Public Records) $30,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $207 · +0.0% YoY. Source: county tax records.