350 Herkimer St · Buffalo, NY 14213

$115,000

3 bd · 1.0 ba · 969 sqft · SingleFamily public records · 113 Days on market

Built 1900 Good condition 1,099 sqft lot $119/sqft · 43% below area Est $203k · 43% 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
• DSCR +10.0/10.0
• Appreciation +8.8/10.0
• 1% rule +8.5/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Condition / age +3.8/5.0
• Rent growth +2.4/5.0

Listing remarks MLS

OWNER HOLD OPPORTUNITY with 10 %down! Very affordable single family home with many updates! Own this home and pay less than monthly rent! This 3 bedroom, 1 bath home was freshly painted February 2026. Kitchen, furnace, bathroom and roof were updated in 2019. One bedroom on the first floor and two bedrooms on the second floor. Kitchen with modern cabinets, pantry, refrigerator and stove. First floor laundry with washer and dryer. All appliances included too! Front porch to relax on during those nice days. Minimal grass to cut in the front, no back yard. Investors - a perfect addition to your investment portfolio Last rent was $1250/month - making this perfect for a DSCR Loan.

Key facts

• First floor laundry
• Front porch
• 1,099 sq ft lot

Tags

• KITCHEN WITH MODERN CABINETS
• FIRST FLOOR LAUNDRY
• FRONT PORCH

🏷️ Possibly a rental listed for sale. The $115,000 price doesn't fit this home's estimated sale value (~$202,719) 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 $115k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $556 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $105k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 7.0% 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.
• Zoned schools: International School (math 8% / reading 17%, grade F, #2,048 of 2,108 statewide, top 97%, 981 students, 92% FRL); Hutchinson Central Technical High School (math 96% / reading 32%, grade B-, #807 of 1,100 statewide, top 73%, 1,175 students, 78% FRL).
• Market conditions: Rents soft (-0.5%/yr); 185 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 73d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 85% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 35% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $9k of equity ($795 loan paydown + $9k appreciation (7.5% local appreciation)).
• At projected returns (7.5% appreciation + 0.0% rent growth), your $32k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 5 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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: 1.35% ✓
• Cap rate: 12.10%
• Cash-on-cash: 20.72%
• DSCR: 1.92
• GRM: 6.2

CMA / ARV

• ARV (median comp): $202,719
• List price: $115,000
• Delta: -43.27%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 Pooley Pl	0.30mi	3/1.0	1,044 (+8%)	2mo	$144,900	$139	72
25 Lafayette Ave	0.29mi	3/2.0	1,009 (+4%)	7mo	$110,000	$109	70
1069 West Ave	0.28mi	3/1.0	1,040 (+7%)	13mo	$150,000	$144	64
153 Garner Ave	0.26mi	2/1.0 (-1)	864 (-11%)	14mo	$70,653	$82	53
123 Hawley St	0.63mi	3/1.0	930 (-4%)	14mo	$191,000	$205	52
74 Baynes St	0.48mi	4/2.0 (+1)	1,075 (+11%)	5mo	$195,925	$182	46
11 S Putnam St	0.62mi	2/2.5 (-1)	1,073 (+11%)	23mo	$277,000	$258	23

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

Projected returns pro-forma

7.51% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 33.9%
• Equity multiple: 3.32×
• Total profit: $74,624
• Equity at exit: $83,579

10-year hold

• IRR: 29.3%
• Equity multiple: 6.64×
• Total profit: $181,723
• Equity at exit: $162,414

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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 6 active · 7 under contract
• Months of supply: 7.2 mo (14%/mo absorbed)
• Median asking: $89,449 ($90/sqft)
• Median days on market: 25 d
• This list price: 67% of active listings are priced below it
• ARV vs active asking: +132.4% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 14213

• Home prices YoY: 1.7%
• Rents YoY: -0.5%
• Active inventory: 185
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,554 high
• Mortgage (P&I): −$603
• Tax from tax record: −$21 /mo · $247/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $556

Break-even live

Break-even rent $850

Max offer price $115,000

Occupancy floor 59%

Sensitivity live

Price	-10% $621	-5% $589	+0% $556	+5% $524	+10% $353
Rent	-10% $433	-5% $495	+0% $556	+5% $618	+10% $679
Rate	-1.0pp $614	-0.5pp $585	base $556	+0.5pp $526	+1.0pp $496

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
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
350 Herkimer St Buffalo, NY	3.0	1.0	1000	$1,450	$1.45	30d	1	0.03mi
163 W Delavan Ave Buffalo, NY	3.0	1.0	1000	$1,500	$1.50	73d	1	0.03mi
196 Auburn Ave Buffalo, NY	3.0	1.0	1000	$1,300	$1.30	93d	1	0.23mi
257 Lafayette Ave Buffalo, NY	2.0	1.0	740	$1,400	$1.89	35d	1	0.27mi
257 Lafayette Ave Unit 317 Buffalo, NY	2.0	1.0	897	$1,400	$1.56	73d	1	0.27mi
257 Lafayette Ave Apt 319 Buffalo, NY	2.0	1.0	900	$1,400	$1.56	47d	1	0.28mi
257 Lafayette Ave Apt 207 Buffalo, NY	2.0	1.0	740	$1,400	$1.89	41d	1	0.28mi
420 Grant St Unit upper Buffalo, NY	3.0	1.0	800	$1,300	$1.62	32d	1	0.28mi
1485 Niagara St Buffalo, NY	1.0–2.0	1.0	925	$2,174	$2.35	38d	1	0.31mi
309 Bird Ave Unit 1 Buffalo, NY	3.0	1.0	1100	$2,200	$2.00	93d	1	0.38mi
309 Bird Ave Unit 1 Buffalo, NY	3.0	1.0	1100	$2,100	$1.91	47d	1	0.38mi
46 Hawley St #1 Buffalo, NY	2.0	1.0	900	$1,300	$1.44	93d	1	0.50mi
67 Herkimer St Buffalo, NY	3.0	1.0	1000	$1,300	$1.30	63d	1	0.51mi
478 Breckenridge St Buffalo, NY	3.0	1.0	1100	$1,575	$1.43	93d	1	0.57mi
411 W Ferry St Buffalo, NY	2.0	1.0	900	$1,100	$1.22	63d	1	0.58mi
77 California St Unit 1 Buffalo, NY	2.0	1.0	800	$1,100	$1.38	93d	1	0.60mi
57 Abbottsford Pl Buffalo, NY	2.0	1.0	1000	$1,550	$1.55	73d	1	0.63mi
865 Richmond Ave Unit Rear Buffalo, NY	2.0	1.0	850	$1,100	$1.29	93d	1	0.72mi
484 Ashland Ave Unit 9 Buffalo, NY	2.0	1.0	800	$1,250	$1.56	73d	1	0.76mi
460 Rhode Island St Buffalo, NY	2.0	1.0	1089	$1,500	$1.38	63d	1	0.79mi
1005 Elmwood Ave Unit 3 Buffalo, NY	2.0	1.0	800	$1,500	$1.88	38d	1	0.84mi
1015 Elmwood Ave Unit 3 Buffalo, NY	2.0	2.0	1000	$1,400	$1.40	93d	1	0.85mi
664 Auburn Ave Unit 2 Buffalo, NY	2.0	1.0	900	$2,200	$2.44	93d	1	0.89mi
273 Richmond Ave Buffalo, NY	1.0–2.0	1.0–1.5	789	$1,819	$2.31	73d	1	1.01mi
102 17th St Buffalo, NY	2.0	1.0	1086	$1,250	$1.15	28d	1	1.01mi
102 17th St Buffalo, NY	2.0	1.0	1086	$1,290	$1.19	73d	1	1.01mi
256 14th St Unit 1 Buffalo, NY	2.0	1.0	800	$1,100	$1.38	63d	1	1.03mi
1920 Niagara St Unit 1 Buffalo, NY	2.0	1.0	695	$999	$1.44	93d	1	1.12mi
395 Connecticut St Buffalo, NY	3.0	1.0	1100	$1,600	$1.45	28d	1	1.13mi
346 Bryant St Buffalo, NY	2.0	1.0	792	$1,834	$2.32	52d	1	1.14mi
140 Hodge Ave Buffalo, NY	1.0–2.0	1.0	845	$2,433	$2.88	16d	3	1.21mi
68 Peter St Buffalo, NY	2.0	1.0	900	$900	$1.00	73d	1	1.23mi
245 Bryant St Buffalo, NY	1.0–2.0	1.0	1062	$2,615	$2.46	17d	4	1.23mi
1310 Delaware Ave Buffalo, NY	2.0	1.0	684	$1,275	$1.86	93d	1	1.24mi
400 Elmwood Ave Buffalo, NY	1.0–2.0	1.0	575	$1,200	$2.09	16d	3	1.24mi
1560 Delaware Ave Unit 1 Buffalo, NY	3.0	1.0	1000	$2,800	$2.80	73d	1	1.30mi
31 Norwood Ave Unit 2 Buffalo, NY	3.0	1.0	1000	$1,795	$1.79	11d	1	1.31mi
1165 Delaware Ave Buffalo, NY	1.0–2.0	1.0	658	$1,250	$1.90	93d	1	1.31mi
344 Elmwood Ave Unit 3rd floor Buffalo, NY	2.0	1.0	1000	$1,400	$1.40	73d	1	1.33mi
155 Germain St Apt 1 Buffalo, NY	2.0	1.0	1000	$975	$0.97	35d	1	1.36mi

Listing history 32 events

1. 2026-06-22
   days on market $115,000 Active 113 DOM
2. 2026-06-21
   days on market $115,000 Active 112 DOM
3. 2026-06-18
   days on market $115,000 Active 109 DOM
4. 2026-06-17
   days on market $115,000 Active 108 DOM
5. 2026-06-16
   days on market $115,000 Active 107 DOM
6. 2026-06-15
   days on market $115,000 Active 106 DOM
7. 2026-06-13
   days on market $115,000 Active 104 DOM
8. 2026-06-13
   days on market $115,000 Active 103 DOM
9. 2026-06-10
   days on market $115,000 Active 101 DOM
10. 2026-06-09
    days on market $115,000 Active 100 DOM
11. 2026-06-08
    days on market $115,000 Active 99 DOM
12. 2026-06-07
    days on market $115,000 Active 98 DOM
13. 2026-06-03
    days on market $115,000 Active 94 DOM
14. 2026-06-02
    days on market $115,000 Active 93 DOM
15. 2026-06-01
    days on market $115,000 Active 92 DOM
16. 2026-05-31
    days on market $115,000 Active 91 DOM
17. 2026-03-01
    listed $115,000 Active 683-char remark

    Show marketing remark (683 chars)

    OWNER HOLD OPPORTUNITY with 10 %down! Very affordable single family home with many updates! Own this home and pay less than monthly rent! This 3 bedroom, 1 bath home was freshly painted February 2026. Kitchen, furnace, bathroom and roof were updated in 2019. One bedroom on the first floor and two bedrooms on the second floor. Kitchen with modern cabinets, pantry, refrigerator and stove. First floor laundry with washer and dryer. All appliances included too! Front porch to relax on during those nice days. Minimal grass to cut in the front, no back yard. Investors - a perfect addition to your investment portfolio Last rent was $1250/month - making this perfect for a DSCR Loan.

18. 2024-12-09
    historical
19. 2024-11-20
    price $140,000
20. 2024-10-02
    listed $150,000 Active
21. 2022-09-27
    soldstatus $150,000
22. 2022-09-23
    soldstatus $150,000 Closed Sale or Rented
23. 2022-07-02
    price $150,000
24. 2022-07-02
    status Pending Sale
25. 2022-06-30
    listed $135,000 Active
26. 2020-03-05
    status Pending Sale
27. 2020-03-05
    historical
28. 2019-12-30
    status Active
29. 2019-12-20
    status Under Contract- Do Not Show
30. 2019-12-13
    listed $59,999 Active
31. 2004-02-17
    soldstatus $8,500
32. 1994-09-23
    soldstatus $13,400

ⓘ 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: $247 · $21/mo
• Projected year-2 tax: $1,095 · $91/mo
• Expected delta: +$848/yr (+$71/mo · 344.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,648
• − Mortgage interest: −$6,442
• − Property taxes: −$247
• − Insurance: −$575
• − Repairs & maintenance: −$1,492
• − Management: −$1,492
• − Depreciation: −$3,345
• Taxable income: $5,055
• Est. tax owed @ 24.0%: −$1,213
• After-tax cash flow: $5,460/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 · 2 photos

Good 75/100 Cosmetic rehab Est. rehab $4,845–$14,535 screening

This single-family home is in good condition with recent updates and a well-maintained exterior. It offers a good investment opportunity with potential for both resale and rental value.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and resale value. ↑
• Both Landscaping improvements — Improves curb appeal and rental value. ↑
• Both Landscaping maintenance — Keeps the property looking well-maintained and attractive. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 38/100

Zoned Schools

Elementary International School F NY #2,048/2,108 Nat'l #37,629/41,679 High International Preparatory School (The) B- NY #813/1,100 Nat'l #3,134/17,239

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

B Composite livability gradescore 77/100

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 · 933,037 people
• City population: 440,021
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 24,107
• Household income: $53,870
• Rent vs Own: 60.5% rent · 39.5% own
• Severe rent burden: 9% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 46% Hispanic / Latino 20% Black 18% Asian 12% Two or more races 10%
• Hispanic origin (detail): Mexican 1% Puerto Rican 16% Dominican 1%
• Common ancestry: Romanian 6% Slovak 3% Lithuanian 3%
• Foreign-born: 16% · Philippines, Canada, India
• Languages at home: 68% English-only · Spanish 12% Other Asian/Pacific 7% Arabic 3%

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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: ▲ 7.51%
• Current HPI: 448.4879
• Rent YoY: ▼ -0.49%
• Metro: Buffalo-Cheektowaga, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

+758.2% since first listed

16 events — show timeline

• 2026-03-01 Listed $115,000 WNYREIS
• 2024-12-09 Listing Removed — WNYREIS
• 2024-11-20 Price Changed $140,000 WNYREIS
• 2024-10-02 Listed $150,000 WNYREIS
• 2022-09-27 Sold (Public Records) $150,000 Public Records
• 2022-09-23 Sold (MLS) $150,000 WNYREIS
• 2022-07-02 Price Changed $150,000 WNYREIS
• 2022-07-02 Pending — WNYREIS
• 2022-06-30 Listed $135,000 WNYREIS
• 2020-03-05 Pending — WNYREIS
• 2020-03-05 Listing Removed — WNYREIS
• 2019-12-30 Relisted — WNYREIS
• 2019-12-20 Pending — WNYREIS
• 2019-12-13 Listed $59,999 WNYREIS
• 2004-02-17 Sold (Public Records) $8,500 Public Records
• 1994-09-23 Sold (Public Records) $13,400 Public Records

Property tax history

+6.8%/yr

Latest (2025): $247 · +0.0% YoY. Source: county tax records.