1835 S Park Ave · Buffalo, NY 14220

$120,000

3 bd · 1.0 ba · 962 sqft · SingleFamily public records · 77 Days on market

Built 1928 5,600 sqft lot $125/sqft · 50% below area

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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 +25.9/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Rent growth +4.4/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming carriage house opportunity in South Buffalo! Located at 1835 S Park, this property offers a unique chance to create a cozy residence or income-producing rental. The property is currently rented to a happy tenant paying $1150. It could make an excellent owner occupied residence or an excellent short term rental location! The inside is nicely appointed with hardwood floors and a great layout! This property could be sold as a package with the 4-unit next door

Key facts

• 5,600 sq ft lot
• 2 garage spots
• Built 1928

🏷️ Possibly a rental listed for sale. The $120,000 price doesn't fit this home's estimated sale value (~$242,078) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $297 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $113k (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 rising fast (+7.6%/yr); 136 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).

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 + 7.6% rent growth), your $34k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $75k; list at $120k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $112,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 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 1928 — 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: 1.06% ✓
• Cap rate: 9.26%
• Cash-on-cash: 10.59%
• DSCR: 1.47
• GRM: 7.9

CMA / ARV

• ARV (median comp): $242,078
• List price: $120,000
• Delta: -50.43%
• 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
780 Tifft St	0.33mi	3/1.0	960 (-0%)	5mo	$197,500	$206	80
104 Pries Ave	0.24mi	3/1.5	1,029 (+7%)	1mo	$193,000	$188	74
827 Tifft St	0.26mi	3/1.5	1,002 (+4%)	6mo	$230,000	$230	74
28 Bloomfield Ave	0.25mi	3/1.5	1,056 (+10%)	3mo	$107,000	$101	67
30 Portland St	0.48mi	3/1.0	1,006 (+5%)	5mo	$160,000	$159	66
88 Marbeth Ct	0.57mi	3/1.0	1,008 (+5%)	3mo	$239,900	$238	62
351 Abbott Rd	0.39mi	3/1.0	1,080 (+12%)	1mo	$175,000	$162	60
53 Koester St	0.33mi	4/1.0 (+1)	850 (-12%)	0mo	$178,000	$209	60
30 Strathmore Ave	0.32mi	3/1.0	1,080 (+12%)	6mo	$245,000	$227	59
161 Woodside Ave	0.60mi	3/1.0	1,056 (+10%)	0mo	$244,000	$231	56
62 S Ryan St	0.74mi	3/1.0	858 (-11%)	2mo	$107,000	$125	46
45 Unger Ave	0.73mi	3/1.0	1,072 (+11%)	3mo	$223,600	$209	45

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 · 7.62% rent growth · sell at horizon

5-year hold

• IRR: 4.1%
• Equity multiple: 1.17×
• Total profit: $5,579
• Equity at exit: $17,892

10-year hold

• IRR: 17.2%
• Equity multiple: 2.69×
• Total profit: $56,899
• 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 14220

• Home prices YoY: -26.7%
• Rents YoY: 7.6%
• Active inventory: 136
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,272 high
• Mortgage (P&I): −$629
• Tax from tax record: −$29 /mo · $347/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $297

Break-even live

Break-even rent $897

Max offer price $120,000

Occupancy floor 72%

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 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
214 Abbott Rd Unit 2 Buffalo, NY	2.0	1.0	945	$1,200	$1.27	14d	1	0.46mi
100 Athol St Buffalo, NY	2.0	1.0	600	$1,314	$2.19	1d	1	0.63mi
696 Hopkins St Unit 2 Buffalo, NY	2.0	1.0	750	$950	$1.27	43d	1	0.68mi
700 Hopkins St Buffalo, NY	3.0	1.0	1100	$1,225	$1.11	14d	1	0.69mi
61 Princeton Pl Buffalo, NY	2.0	1.0	820	$1,300	$1.59	2d	1	0.77mi
2111 Seneca St #3 Buffalo, NY	2.0	1.0	937	$1,150	$1.23	43d	1	0.85mi
102 Wildwood Pl Unit 1 Buffalo, NY	3.0	1.0	1100	$1,250	$1.14	16d	1	1.25mi
40 Vincent Ave Unit 2 Buffalo, NY	2.0	1.0	1075	$875	$0.81	23d	1	1.27mi
46 Kirkwood Dr Unit Lower West Seneca, NY	2.0	1.0	1064	$1,350	$1.27	16d	1	1.43mi
47 Lester St Unit Main Floor Buffalo, NY	3.0	1.0	900	$1,000	$1.11	43d	1	1.44mi

Listing history 17 events

1. 2026-06-18
   days on market $120,000 Active 77 DOM
2. 2026-06-17
   days on market $120,000 Active 76 DOM
3. 2026-06-16
   days on market $120,000 Active 75 DOM
4. 2026-06-15
   days on market $120,000 Active 74 DOM
5. 2026-06-13
   days on market $120,000 Active 72 DOM
6. 2026-06-13
   days on market $120,000 Active 71 DOM
7. 2026-06-10
   days on market $120,000 Active 69 DOM
8. 2026-06-09
   days on market $120,000 Active 68 DOM
9. 2026-06-08
   days on market $120,000 Active 67 DOM
10. 2026-06-07
    days on market $120,000 Active 66 DOM
11. 2026-06-03
    days on market $120,000 Active 62 DOM
12. 2026-06-02
    days on market $120,000 Active 61 DOM
13. 2026-06-01
    days on market $120,000 Active 60 DOM
14. 2026-05-31
    days on market $120,000 Active 59 DOM
15. 2026-04-02
    listed $120,000 Active 469-char remark

    Show marketing remark (469 chars)

    Charming carriage house opportunity in South Buffalo! Located at 1835 S Park, this property offers a unique chance to create a cozy residence or income-producing rental. The property is currently rented to a happy tenant paying $1150. It could make an excellent owner occupied residence or an excellent short term rental location! The inside is nicely appointed with hardwood floors and a great layout! This property could be sold as a package with the 4-unit next door

16. 2025-05-06
    soldstatus $75,000
17. 2022-08-09
    soldstatus $350,000

ⓘ 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: $347 · $29/mo
• Projected year-2 tax: $1,188 · $99/mo
• Expected delta: +$840/yr (+$70/mo · 241.8%)

ⓘ 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) · 24% 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 4/10 Moderate 3 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,264
• − Mortgage interest: −$6,722
• − Property taxes: −$347
• − Insurance: −$600
• − Repairs & maintenance: −$1,221
• − Management: −$1,221
• − Depreciation: −$3,491
• Taxable income: $1,661
• Est. tax owed @ 24.0%: −$399
• After-tax cash flow: $3,161/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): 24,428
• Household income: $70,963
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 602.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 6% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 10% Cuban 1%
• Common ancestry: Romanian 16% Lithuanian 1% Subsaharan African 1%
• Foreign-born: 4% · Canada, Jamaica, China
• Languages at home: 90% English-only · 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: ▼ -146.29%
• Current HPI: 402.5053
• Rent YoY: ▲ 7.62%
• 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

-65.7% since first listed

3 events — show timeline

• 2026-04-02 Listed $120,000 WNYREIS
• 2025-05-06 Sold (Public Records) $75,000 Public Records
• 2022-08-09 Sold (Public Records) $350,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $347 · +0.0% YoY. Source: county tax records.