350 Herkimer St · Buffalo, NY 14213

$115,000

3 bd · 1.0 ba · 969 sqft · SingleFamily public records · 109 Days on market

Built 1900 1,099 sqft lot $119/sqft · 42% below area Est $197k · 42% 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 +8.7/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• 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 (~$196,963) 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.

Deal economics

• At list price, monthly cash flow is $574 ($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 12.3% 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 soft (-0.5%/yr); 137 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 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 109 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 109 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: 1.37% ✓
• Cap rate: 12.28%
• Cash-on-cash: 21.39%
• DSCR: 1.95
• GRM: 6.1

CMA / ARV

• ARV (median comp): $196,963
• List price: $115,000
• Delta: -41.61%
• 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%)	0mo	$144,900	$139	73
25 Lafayette Ave	0.29mi	3/2.0	1,009 (+4%)	5mo	$110,000	$109	71
1069 West Ave	0.28mi	3/1.0	1,040 (+7%)	11mo	$150,000	$144	65
153 Garner Ave	0.26mi	2/1.0 (-1)	864 (-11%)	12mo	$70,653	$82	55
123 Hawley St	0.63mi	3/1.0	930 (-4%)	13mo	$191,000	$205	53
74 Baynes St	0.48mi	4/2.0 (+1)	1,075 (+11%)	4mo	$195,925	$182	48
11 S Putnam St	0.62mi	2/2.5 (-1)	1,073 (+11%)	22mo	$277,000	$258	24

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: 34.4%
• Equity multiple: 3.35×
• Total profit: $75,691
• Equity at exit: $83,579

10-year hold

• IRR: 29.8%
• Equity multiple: 6.71×
• Total profit: $183,856
• 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 →

ZIP-level market 14213

• Home prices YoY: 1.7%
• Rents YoY: -0.5%
• Active inventory: 137
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,576 high
• Mortgage (P&I): −$603
• Tax from tax record: −$21 /mo · $247/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $574

Break-even live

Break-even rent $850

Max offer price $115,000

Occupancy floor 59%

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
163 W Delavan Ave Buffalo, NY	3.0	1.0	1000	$1,500	$1.50	23d	1	0.03mi
196 Auburn Ave Buffalo, NY	3.0	1.0	1000	$1,300	$1.30	44d	1	0.23mi
257 Lafayette Ave Unit 317 Buffalo, NY	2.0	1.0	897	$1,400	$1.56	23d	1	0.27mi
257 Lafayette Ave Apt 319 Buffalo, NY	2.0	1.0	900	$1,395	$1.55	23d	1	0.28mi
1485 Niagara St Buffalo, NY	1.0–2.0	1.0	925	$2,174	$2.35	1d	1	0.31mi
309 Bird Ave Unit 1 Buffalo, NY	3.0	1.0	1100	$2,200	$2.00	44d	1	0.38mi
100 Forest Ave Buffalo, NY	2.0–4.0	2.0–4.0	1304	$1,600	$1.23	1d	14	0.47mi
46 Hawley St #1 Buffalo, NY	2.0	1.0	900	$1,300	$1.44	44d	1	0.50mi
67 Herkimer St Buffalo, NY	3.0	1.0	1000	$1,300	$1.30	14d	1	0.51mi
478 Breckenridge St Buffalo, NY	3.0	1.0	1100	$1,575	$1.43	44d	1	0.57mi
411 W Ferry St Buffalo, NY	2.0	1.0	900	$1,100	$1.22	14d	1	0.58mi
77 California St Unit 1 Buffalo, NY	2.0	1.0	800	$1,100	$1.38	44d	1	0.60mi
57 Abbottsford Pl Buffalo, NY	2.0	1.0	1000	$1,550	$1.55	23d	1	0.63mi
865 Richmond Ave Unit Rear Buffalo, NY	2.0	1.0	850	$1,100	$1.29	44d	1	0.72mi
484 Ashland Ave Unit 9 Buffalo, NY	2.0	1.0	800	$1,250	$1.56	23d	1	0.76mi
460 Rhode Island St Buffalo, NY	2.0	1.0	1089	$1,500	$1.38	14d	1	0.79mi
1015 Elmwood Ave Unit 3 Buffalo, NY	2.0	2.0	1000	$1,400	$1.40	44d	1	0.85mi
664 Auburn Ave Unit 2 Buffalo, NY	2.0	1.0	900	$2,200	$2.44	44d	1	0.89mi
273 Richmond Ave Buffalo, NY	1.0–2.0	1.0–1.5	789	$1,819	$2.31	23d	1	1.01mi
102 17th St Buffalo, NY	2.0	1.0	1086	$1,290	$1.19	23d	1	1.01mi
256 14th St Unit 1 Buffalo, NY	2.0	1.0	800	$1,100	$1.38	14d	1	1.03mi
1920 Niagara St Unit 1 Buffalo, NY	2.0	1.0	695	$999	$1.44	44d	1	1.12mi
346 Bryant St Buffalo, NY	2.0	1.0	792	$1,834	$2.32	3d	1	1.14mi
68 Peter St Buffalo, NY	2.0	1.0	900	$900	$1.00	23d	1	1.23mi
1310 Delaware Ave Buffalo, NY	2.0	1.0	684	$1,275	$1.86	44d	1	1.24mi
1560 Delaware Ave Unit 1 Buffalo, NY	3.0	1.0	1000	$2,800	$2.80	23d	1	1.30mi
31 Norwood Ave Unit 2 Buffalo, NY	3.0	1.0	1000	$1,950	$1.95	12d	1	1.31mi
1040 Delaware Ave Buffalo, NY	1.0–2.0	1.0	687	$1,500	$2.18	3d	4	1.31mi
1165 Delaware Ave Buffalo, NY	1.0–2.0	1.0	658	$1,250	$1.90	44d	1	1.31mi
344 Elmwood Ave Unit 3rd floor Buffalo, NY	2.0	1.0	1000	$1,400	$1.40	23d	1	1.33mi
155 Germain St Apt 1 Buffalo, NY	2.0	1.0	1000	$1,000	$1.00	10d	1	1.36mi
1558 Elmwood Ave Unit 4 Buffalo, NY	2.0	1.0	800	$1,100	$1.38	44d	1	1.39mi
916 Delaware Ave Buffalo, NY	2.0	1.0	750	$1,625	$2.17	3d	9	1.40mi
88 W Utica St Unit 1 Buffalo, NY	3.0	2.0	990	$2,150	$2.17	14d	1	1.41mi
88 W Utica St Unit 1 Buffalo, NY	3.0	2.0	990	$2,150	$2.17	3d	1	1.41mi
72 Reservation St Unit 2 Buffalo, NY	3.0	1.0	950	$1,150	$1.21	23d	1	1.41mi
888 Delaware Ave Buffalo, NY	2.0	1.0–2.0	899	$2,440	$2.71	23d	1	1.43mi
279 North St Buffalo, NY	1.0–2.0	1.0–2.0	820	$2,050	$2.50	44d	1	1.44mi
213 Summer St Unit 3 Buffalo, NY	2.0	1.0	1020	$2,450	$2.40	21d	1	1.45mi
238 Oxford Ave Unit Upper Buffalo, NY	3.0	1.0	1100	$1,600	$1.45	23d	1	1.47mi

Listing history 30 events

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

16. 2024-12-09
    historical
17. 2024-11-20
    price $140,000
18. 2024-10-02
    listed $150,000 Active
19. 2022-09-27
    soldstatus $150,000
20. 2022-09-23
    soldstatus $150,000 Closed Sale or Rented
21. 2022-07-02
    price $150,000
22. 2022-07-02
    status Pending Sale
23. 2022-06-30
    listed $135,000 Active
24. 2020-03-05
    status Pending Sale
25. 2020-03-05
    historical
26. 2019-12-30
    status Active
27. 2019-12-20
    status Under Contract- Do Not Show
28. 2019-12-13
    listed $59,999 Active
29. 2004-02-17
    soldstatus $8,500
30. 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: $18,918
• − Mortgage interest: −$6,442
• − Property taxes: −$247
• − Insurance: −$575
• − Repairs & maintenance: −$1,513
• − Management: −$1,513
• − Depreciation: −$3,345
• Taxable income: $5,282
• Est. tax owed @ 24.0%: −$1,268
• After-tax cash flow: $5,619/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): 24,107
• Household income: $53,870
• Rent vs Own: 60.5% rent · 39.5% own
• Severe rent burden: 1501.0

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: 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%

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

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.