218 French St · Buffalo, NY 14211

$114,900

6 bd · 2.0 ba · 2,842 sqft · MultiFamily · 82 Days on market

Built 1930 4,140 sqft lot Est $196k · 41% under

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Why this score? — see what drove the A- 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
• Appreciation +6.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks MLS

Well maintained two family home. 3/3 Double. Tenant occupied. Long term tenants that want to stay.

Key facts

• Updated throughout
• Newer kitchens
• Convenient area

Tags

• UPDATED THROUGHOUT
• NEW LAMINATE FLOORING
• NEWER KITCHENS
• UPDATED MECHANICS
• SOLID ROOF
• CONVENIENT AREA

🏷️ Possibly a rental listed for sale. The $114,900 price doesn't fit this home's estimated sale value (~$196,098) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $115k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 22.2% 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; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,929/mo this rent would consume 97% 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 ($794 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

• It's been on market 82 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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 $59k; list at $115k implies a 95% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,006 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 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 1930 — 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 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: 2.55% ✓
• Cap rate: 22.17%
• Cash-on-cash: 56.69%
• DSCR: 3.52
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $196,098
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
218 French St	0.00mi	6/2.0	2,842 (0%)	2mo	$105,000	$37	98
715 Woodlawn Ave	0.44mi	6/2.0	2,784 (-2%)	12mo	$270,000	$97	66
1002 Humboldt Pkwy	0.64mi	6/2.0	2,684 (-6%)	8mo	$185,750	$69	55
400 Winslow Ave	0.41mi	6/2.0	2,504 (-12%)	13mo	$144,000	$58	50
25 Spiess St	0.36mi	6/3.0	2,607 (-8%)	22mo	$275,000	$105	47
354 Koons Ave	0.58mi	6/2.0	2,579 (-9%)	13mo	$100,000	$39	47
76 Girard Pl	0.50mi	6/2.0	2,492 (-12%)	22mo	$155,000	$62	38
213 Winslow Ave	0.73mi	6/2.0	2,484 (-13%)	8mo	$242,000	$97	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 60.6%
• Equity multiple: 4.26×
• Total profit: $105,010
• Equity at exit: $45,625

10-year hold

• IRR: 61.0%
• Equity multiple: 8.63×
• Total profit: $245,587
• Equity at exit: $65,937

Cash invested: $32,172 (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: 6.5×

Monthly cashflow live

• Estimated rent: $2,929 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,724/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$615
• Net cashflow: $1,520

Break-even live

Break-even rent $1,005

Max offer price $114,900

Occupancy floor 43%

Sensitivity live

Price	-10% $1,599	-5% $1,560	+0% $1,520	+5% $1,480	+10% $1,440
Rent	-10% $1,288	-5% $1,404	+0% $1,520	+5% $1,636	+10% $1,751
Rate	-1.0pp $1,578	-0.5pp $1,549	base $1,520	+0.5pp $1,490	+1.0pp $1,460

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,928
Total (2 units)			$2,929

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-01-15
   status Pending
2. 2025-11-18
   status Active
3. 2025-10-16
   listed $114,900 Active
4. 2025-10-07
   historical
5. 2025-08-19
   price $119,900
6. 2025-07-17
   price $126,900
7. 2025-05-19
   listed $132,900 Active
8. 2019-04-12
   soldstatus $59,000 Closed Sale or Rented 98-char remark

   Show marketing remark (98 chars)

   Well maintained two family home. 3/3 Double. Tenant occupied. Long term tenants that want to stay.

9. 2019-03-25
   status Under Contract- Do Not Show 98-char remark

   Show marketing remark (98 chars)

   Well maintained two family home. 3/3 Double. Tenant occupied. Long term tenants that want to stay.

10. 2019-03-08
    listed $64,900 Active 98-char remark

    Show marketing remark (98 chars)

    Well maintained two family home. 3/3 Double. Tenant occupied. Long term tenants that want to stay.

ⓘ 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 · 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: $35,148
• − Mortgage interest: −$6,436
• − Property taxes: −$1,724
• − Insurance: −$574
• − Repairs & maintenance: −$2,812
• − Management: −$2,812
• − Depreciation: −$3,343
• Taxable income: $17,448
• Est. tax owed @ 24.0%: −$4,187
• After-tax cash flow: $14,051/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): 24,663
• 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

+77.0% since first listed

10 events — show timeline

• 2026-01-15 Pending — WNYREIS
• 2025-11-18 Relisted — WNYREIS
• 2025-10-16 Listed $114,900 WNYREIS
• 2025-10-07 Listing Removed — WNYREIS
• 2025-08-19 Price Changed $119,900 WNYREIS
• 2025-07-17 Price Changed $126,900 WNYREIS
• 2025-05-19 Listed $132,900 WNYREIS
• 2019-04-12 Sold (MLS) $59,000 WNYREIS
• 2019-03-25 Pending — WNYREIS
• 2019-03-08 Listed $64,900 WNYREIS