149 Arkansas St · Buffalo, NY 14213

$14,900

7 bd · 3.0 ba · 2,164 sqft · MultiFamily public records · 332 Days on market

Built 1920 3,750 sqft lot $7/sqft · 36% above area Est $11k · 36% over ↓ 26% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• Appreciation +8.8/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• ARV discount +0.0/15.0

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

Must sell! Motivated seller! Vacant lot located in the lower west side area of Buffalo, close to downtown. Zone for residential and suitable for a single family, 2-unit home or recreational use. Lot can be sold as a package deal vacant lot located at 58 Maryland (MLS B1623420). Perfect opportunity for a buyer/investor to build in sought-after area.

Key facts

• Vacant lot
• Sought-after area
• Zone for residential

Tags

• VACANT LOT
• ZONE FOR RESIDENTIAL
• SUITABLE FOR SINGLE FAMILY
• SUITABLE FOR 2-UNIT HOME
• SOUGHT-AFTER AREA

What this means for you Summary

Snapshot

• This is a 7-bed/3.0-bath multifamily listed at $15k.

Deal economics

• At list price, monthly cash flow is $3k ($38k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $15k).
• Recommended offer: $13k (12.0% below list) — sets the bar for market timing.
• Cap rate 264.3% 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; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $4,184/mo this rent would consume 93% of the median local household income ($54k/yr) (locally 1501% 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 $1k of equity ($103 loan paydown + $1k appreciation (7.5% local appreciation)).
• At projected returns (7.5% appreciation + 0.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 332 days — a 12% lower offer ($13k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 9y ago; this cycle's ask has dropped $10k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $13,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 332 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 28.08% ✓
• Cap rate: 264.27%
• Cash-on-cash: 921.36%
• DSCR: 42.00
• GRM: 0.3

CMA / ARV

• ARV (median comp): $10,946
• List price: $14,900
• Delta: 36.12%
• Verdict: OVERPRICED
• Comps: 5 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
325 Breckenridge St	0.21mi	6/2.0 (-1)	2,044 (-6%)	2mo	$175,500	$86	70
238 Barton St	0.39mi	6/2.0 (-1)	2,246 (+4%)	2mo	$195,000	$87	65
67 Barton St	0.14mi	6/2.0 (-1)	2,420 (+12%)	0mo	$170,000	$70	64
149 16th St	0.52mi	6/3.0 (-1)	2,169 (+0%)	10mo	$394,000	$182	62
315 Herkimer St	0.51mi	6/2.0 (-1)	2,303 (+6%)	2mo	$148,000	$64	55
385 Auburn Ave	0.41mi	6/2.0 (-1)	1,920 (-11%)	0mo	$218,000	$114	53
971 West Ave	0.32mi	6/2.0 (-1)	2,336 (+8%)	12mo	$155,000	$66	52
114 19th St	0.25mi	6/2.0 (-1)	2,453 (+13%)	12mo	$80,000	$33	47
289 Hoyt St	0.72mi	6/2.0 (-1)	2,232 (+3%)	8mo	$270,000	$121	46
136 Congress St	0.52mi	6/2.0 (-1)	2,024 (-6%)	14mo	$175,000	$86	45
192 Baynes St	0.56mi	6/2.0 (-1)	1,920 (-11%)	10mo	$284,000	$148	38
575 Auburn Ave	0.71mi	6/3.0 (-1)	2,456 (+14%)	9mo	$380,000	$155	32

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: —
• Equity multiple: 48.34×
• Total profit: $197,495
• Equity at exit: $10,829

10-year hold

• IRR: —
• Equity multiple: 96.66×
• Total profit: $399,073
• Equity at exit: $21,043

Cash invested: $4,172 (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 14213

• Home prices YoY: 1.7%
• Rents YoY: -0.5%
• Active inventory: 137
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $4,184 high
• Mortgage (P&I): −$78
• Tax from tax record: −$18 /mo · $213/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$879
• Net cashflow: $3,203

Break-even live

Break-even rent $129

Max offer price $14,900

Occupancy floor 18%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,394
1× unit	3	1	$1,789
Total (3 units)			$4,184

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

Listing history 43 events

1. 2026-06-18
   days on market $14,900 Active 332 DOM
2. 2026-06-17
   days on market $14,900 Active 331 DOM
3. 2026-06-16
   days on market $14,900 Active 330 DOM
4. 2026-06-15
   days on market $14,900 Active 329 DOM
5. 2026-06-13
   days on market $14,900 Active 327 DOM
6. 2026-06-13
   days on market $14,900 Active 326 DOM
7. 2026-06-10
   days on market $14,900 Active 324 DOM
8. 2026-06-09
   days on market $14,900 Active 323 DOM
9. 2026-06-08
   days on market $14,900 Active 322 DOM
10. 2026-06-07
    days on market $14,900 Active 321 DOM
11. 2026-06-03
    days on market $14,900 Active 317 DOM
12. 2026-06-02
    days on market $14,900 Active 316 DOM
13. 2026-06-01
    days on market $14,900 Active 315 DOM
14. 2026-05-31
    days on market $14,900 Active 314 DOM
15. 2026-01-12
    price $14,900 350-char remark

    Show marketing remark (350 chars)

    Must sell! Motivated seller! Vacant lot located in the lower west side area of Buffalo, close to downtown. Zone for residential and suitable for a single family, 2-unit home or recreational use. Lot can be sold as a package deal vacant lot located at 58 Maryland (MLS B1623420). Perfect opportunity for a buyer/investor to build in sought-after area.

16. 2025-07-21
    listed $24,900 Active 350-char remark

    Show marketing remark (350 chars)

    Must sell! Motivated seller! Vacant lot located in the lower west side area of Buffalo, close to downtown. Zone for residential and suitable for a single family, 2-unit home or recreational use. Lot can be sold as a package deal vacant lot located at 58 Maryland (MLS B1623420). Perfect opportunity for a buyer/investor to build in sought-after area.

17. 2020-03-11
    soldstatus $45,000 Closed Sale or Rented 431-char remark

    Show marketing remark (431 chars)

    3 units with separate utilities and a driveway one block from Grant st. The property is vacant and will need repair before it can be occupied. The lower front apartment is a 1 bedroom, the upper front is a 3 bedroom and the lower rear is a 1 bedroom. There is a partial basement and a full attic. There is a certificate of occupancy for 3 units but it is not updated. The property does have city violations and is being sold AS-IS.

18. 2020-03-11
    soldstatus $45,000

    Show marketing remark (431 chars)

    3 units with separate utilities and a driveway one block from Grant st. The property is vacant and will need repair before it can be occupied. The lower front apartment is a 1 bedroom, the upper front is a 3 bedroom and the lower rear is a 1 bedroom. There is a partial basement and a full attic. There is a certificate of occupancy for 3 units but it is not updated. The property does have city violations and is being sold AS-IS.

19. 2020-03-07
    status Pending Sale 431-char remark

    Show marketing remark (431 chars)

    3 units with separate utilities and a driveway one block from Grant st. The property is vacant and will need repair before it can be occupied. The lower front apartment is a 1 bedroom, the upper front is a 3 bedroom and the lower rear is a 1 bedroom. There is a partial basement and a full attic. There is a certificate of occupancy for 3 units but it is not updated. The property does have city violations and is being sold AS-IS.

20. 2020-02-26
    status Active 431-char remark

    Show marketing remark (431 chars)

    3 units with separate utilities and a driveway one block from Grant st. The property is vacant and will need repair before it can be occupied. The lower front apartment is a 1 bedroom, the upper front is a 3 bedroom and the lower rear is a 1 bedroom. There is a partial basement and a full attic. There is a certificate of occupancy for 3 units but it is not updated. The property does have city violations and is being sold AS-IS.

21. 2020-01-03
    status Pending Sale 431-char remark

    Show marketing remark (431 chars)

    3 units with separate utilities and a driveway one block from Grant st. The property is vacant and will need repair before it can be occupied. The lower front apartment is a 1 bedroom, the upper front is a 3 bedroom and the lower rear is a 1 bedroom. There is a partial basement and a full attic. There is a certificate of occupancy for 3 units but it is not updated. The property does have city violations and is being sold AS-IS.

22. 2019-12-26
    price $44,900 431-char remark

    Show marketing remark (431 chars)

    3 units with separate utilities and a driveway one block from Grant st. The property is vacant and will need repair before it can be occupied. The lower front apartment is a 1 bedroom, the upper front is a 3 bedroom and the lower rear is a 1 bedroom. There is a partial basement and a full attic. There is a certificate of occupancy for 3 units but it is not updated. The property does have city violations and is being sold AS-IS.

23. 2019-12-26
    listed $59,900 Active 431-char remark

    Show marketing remark (431 chars)

    3 units with separate utilities and a driveway one block from Grant st. The property is vacant and will need repair before it can be occupied. The lower front apartment is a 1 bedroom, the upper front is a 3 bedroom and the lower rear is a 1 bedroom. There is a partial basement and a full attic. There is a certificate of occupancy for 3 units but it is not updated. The property does have city violations and is being sold AS-IS.

24. 2019-07-16
    historical
25. 2019-05-23
    price $59,900
26. 2019-03-26
    listed $74,900 Active
27. 2018-06-19
    soldstatus $38,000 Closed Sale or Rented
28. 2018-03-14
    status Under Contract- Do Not Show
29. 2018-03-08
    price $39,900
30. 2017-12-27
    price $45,900
31. 2017-11-22
    status Active
32. 2017-11-09
    status Under Contract- Do Not Show
33. 2017-10-11
    status Active
34. 2017-09-07
    status Under Contract- Do Not Show
35. 2017-06-19
    price $49,900
36. 2017-06-19
    status Active
37. 2017-05-07
    historical
38. 2017-05-01
    listed $65,000 Active
39. 2017-03-31
    historical
40. 2017-03-22
    listed $65,000 Active
41. 2013-02-22
    soldstatus $22,000
42. 2012-02-21
    soldstatus $20,833
43. 2005-09-12
    soldstatus $20,000

ⓘ 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: $213 · $18/mo
• Projected year-2 tax: $232 · $19/mo
• Expected delta: +$19/yr (+$2/mo · 9.1%)

ⓘ 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 · 15 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: $50,208
• − Mortgage interest: −$835
• − Property taxes: −$213
• − Insurance: −$74
• − Repairs & maintenance: −$4,017
• − Management: −$4,017
• − Depreciation: −$433
• Taxable income: $40,619
• Est. tax owed @ 24.0%: −$9,749
• After-tax cash flow: $28,691/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

-25.5% since first listed

29 events — show timeline

• 2026-01-12 Price Changed $14,900 WNYREIS
• 2025-07-21 Listed $24,900 WNYREIS
• 2020-03-11 Sold (Public Records) $45,000 Public Records
• 2020-03-11 Sold (MLS) $45,000 WNYREIS
• 2020-03-07 Pending — WNYREIS
• 2020-02-26 Relisted — WNYREIS
• 2020-01-03 Pending — WNYREIS
• 2019-12-26 Price Changed $44,900 WNYREIS
• 2019-12-26 Listed $59,900 WNYREIS
• 2019-07-16 Listing Removed — WNYREIS
• 2019-05-23 Price Changed $59,900 WNYREIS
• 2019-03-26 Listed $74,900 WNYREIS
• 2018-06-19 Sold (MLS) $38,000 WNYREIS
• 2018-03-14 Pending — WNYREIS
• 2018-03-08 Price Changed $39,900 WNYREIS
• 2017-12-27 Price Changed $45,900 WNYREIS
• 2017-11-22 Relisted — WNYREIS
• 2017-11-09 Pending — WNYREIS
• 2017-10-11 Relisted — WNYREIS
• 2017-09-07 Pending — WNYREIS
• 2017-06-19 Price Changed $49,900 WNYREIS
• 2017-06-19 Relisted — WNYREIS
• 2017-05-07 Listing Removed — WNYREIS
• 2017-05-01 Listed $65,000 WNYREIS
• 2017-03-31 Listing Removed — WNYREIS
• 2017-03-22 Listed $65,000 WNYREIS
• 2013-02-22 Sold (Public Records) $22,000 Public Records
• 2012-02-21 Sold (Public Records) $20,833 Public Records
• 2005-09-12 Sold (Public Records) $20,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $213 · +0.0% YoY. Source: county tax records.