1269 Fillmore Ave · Buffalo, NY 14211

$115,000

2 bd · 1.0 ba · 2,676 sqft · MultiFamily · 2 Days on market

Built 1910 Poor condition 5,091 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Multi-family units

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

Listing remarks

Excellent mixed-use investment opportunity! This commercial/residential property offers the perfect combination of business potential and rental income. The first floor features a restaurant/ store front space with great visibility and strong street presence, ideal for an owner-operator or commercial tenant. The upper level includes a spacious residential apartment, providing an additional source of steady income or the option for owner occupancy. The property requires rehab. Separate living and business areas create convenience and privacy for both tenants and owners. Located in a high-traffic area with easy access to local amenities, shopping, and public transportation, this property pres

Key facts

• High-traffic area
• 5,091 sq ft lot
• Built 1910

Tags

• RESTAURANT STORE FRONT SPACE
• SPACIOUS RESIDENTIAL APARTMENT
• HIGH-TRAFFIC AREA
• EASY ACCESS TO LOCAL AMENITIES

Property features AI

Finance

• Financial info: Two total units (two-unit multi-family); Separate gas and electric meters for each unit; Owner pays water; water is included in rent; Operating expenses include water/sewer

Exterior

• Parking: Paved parking
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Existing/resale property; Vinyl and wood siding
• Construction: Vinyl siding; Wood siding; Built as existing structure
• Exterior features: Corner lot near public transit; Rectangular residential lot with city street frontage; Lot dimensions approximately 39 x 130

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Two-unit property (unit-level bedroom counts not provided)
• Flooring: Hardwood; Vinyl; Varies by area
• Bathrooms: One full bathroom
• Heating & cooling: Gas forced air heating
• Interior features: Full basement; Hardwood and vinyl flooring; some areas vary
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $115k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $115k).
• Cap rate 19.7% 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: 172 active listings in the ZIP; 6 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).
• At $2,630/mo this rent would consume 87% of the median local household income ($36k/yr) (locally 1804% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $3k of equity ($795 loan paydown + $2k appreciation (2.0% local appreciation)).
• At projected returns (2.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.29% ✓
• Cap rate: 19.68%
• Cash-on-cash: 47.81%
• DSCR: 3.13
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 51.8%
• Equity multiple: 3.79×
• Total profit: $89,924
• Equity at exit: $45,665

10-year hold

• IRR: 52.4%
• Equity multiple: 7.62×
• Total profit: $213,029
• Equity at exit: $65,994

Cash invested: $32,200 (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 14211

• Home prices YoY: 0.6%
• Active inventory: 172
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,630 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$552
• Net cashflow: $1,283

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 46%

Sensitivity live

Price	-10% $1,362	-5% $1,323	+0% $1,283	+5% $1,243	+10% $1,203
Rent	-10% $1,075	-5% $1,179	+0% $1,283	+5% $1,387	+10% $1,491
Rate	-1.0pp $1,341	-0.5pp $1,312	base $1,283	+0.5pp $1,253	+1.0pp $1,223

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,630
Total (2 units)			$2,630

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
79 Walden Ave Buffalo, NY	3.0	1.0	2528	$1,250	$0.49	44d	1	0.43mi
73 Inter Park Ave Buffalo, NY	3.0	1.0	2080	$1,300	$0.62	15d	1	0.51mi
82 Butler Ave Unit 2 Buffalo, NY	3.0	1.0	2752	$1,300	$0.47	44d	1	0.77mi
563 Humboldt Pkwy Buffalo, NY	3.0	1.0	2004	$1,200	$0.60	24d	1	0.84mi
28 Lonsdale Rd Buffalo, NY	3.0	1.0	2735	$1,725	$0.63	44d	1	0.86mi
491 Emslie St Buffalo, NY	3.0	1.0	2488	$1,200	$0.48	15d	1	1.35mi

Listing history 3 events

1. 2026-06-18
   days on market $115,000 Active 2 DOM
2. 2026-06-16
   remarks 699-char remark
3. 2026-06-16
   listed $115,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $31,560
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$2,525
• − Management: −$2,525
• − Depreciation: −$3,345
• Taxable income: $14,423
• Est. tax owed @ 24.0%: −$3,462
• After-tax cash flow: $11,934/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.

Condition & rehab AI · 13 photos

Poor 20/100 Extensive rehab

This property requires extensive rehabilitation, including structural repairs, paint, and landscaping. A comprehensive renovation will significantly increase its value for both resale and rental purposes.

Repairs flagged

• Major Exposed ceiling — Structural damage and debris present
• Major Missing cabinets — Structural damage and debris present
• Major Broken windows — Structural damage and debris present
• Major Peeling paint — Structural damage and debris present
• Major Overgrown landscaping — Structural damage and debris present

Value-add opportunities

• Both Rehabilitation of the entire property — Comprehensive renovation will improve both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed ceiling · Structural damage and debris present	Major	$15,000–50,000
Missing cabinets · Structural damage and debris present	Major	$15,000–50,000
Broken windows · Structural damage and debris present	Major	$15,000–50,000
Peeling paint · Structural damage and debris present	Major	$15,000–50,000
Overgrown landscaping · Structural damage and debris present	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Rehabilitation of the entire property — Comprehensive renovation will improve both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 24,663
• Household income: $36,300
• Rent vs Own: 54.8% rent · 45.2% own
• Severe rent burden: 1804.0

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 0.60)
• Race & ethnicity: Black 59% Asian 20% Hispanic / Latino 9% White 9% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 4%
• Foreign-born: 17% · Canada, Philippines, Vietnam
• Languages at home: 74% English-only · Other Indo-European 14% Spanish 6% 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: ▲ 2.05%
• Current HPI: 357.6438
• Rent YoY: —
• 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

1 event — show timeline

• 2026-06-16 Listed $115,000 WNYREIS