32 Schuele Ave · Buffalo, NY 14215

$89,900

3 bd · 1.0 ba · 1,058 sqft · SingleFamily public records · 7 Days on market

Built 1920 4,200 sqft lot $85/sqft · 28% below area Est $126k · 28% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this 3-bedroom, 1-bathroom bungalow in the City of Buffalo. Step inside to find hardwood floors and natural woodwork flowing through the spacious living and dining rooms. Large eat-in kitchen provides plenty of room for meal prep and additional den/office space offers flexibility for a home office or potential 4th bedroom. Enjoy outdoor living on the covered front porch or back deck, and take advantage of the oversized garage for parking and storage. This home is the perfect opportunity for both owner occupants and investors alike.

Key facts

• Natural woodwork
• Covered front porch
• Large eat-in kitchen

Tags

• HARDWOOD FLOORS
• NATURAL WOODWORK
• LARGE EAT-IN KITCHEN
• COVERED FRONT PORCH
• BACK DECK
• OVERSIZED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $375 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 12.0% 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 flat; 237 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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).
• This rent runs 36% of the median local income ($45k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,900

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 1.48% ✓
• Cap rate: 12.04%
• Cash-on-cash: 20.53%
• DSCR: 1.91
• GRM: 5.6

CMA / ARV

• ARV (median comp): $125,647
• List price: $89,900
• Delta: -28.45%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22 Schuele Ave	0.02mi	4/1.0 (+1)	1,066 (+1%)	9mo	$200,000	$188	85
102 Carl St	0.15mi	3/1.0	1,158 (+10%)	2mo	$124,900	$108	75
21 Stevens Ave	0.08mi	3/1.5	1,125 (+6%)	15mo	$160,000	$142	71
230 Dutton Ave	0.49mi	3/1.0	1,024 (-3%)	4mo	$66,500	$65	68
160 Zenner St	0.55mi	3/1.0	1,072 (+1%)	4mo	$90,000	$84	68
204 Carl St	0.34mi	2/2.0 (-1)	1,089 (+3%)	10mo	$90,000	$83	62
36 Olympic Ave	0.75mi	4/1.0 (+1)	1,048 (-1%)	3mo	$112,000	$107	56
67 Montana Ave	0.41mi	3/1.0	1,182 (+12%)	9mo	$68,000	$58	54
849 Woodlawn Ave	0.35mi	3/3.0	1,124 (+6%)	14mo	$168,800	$150	53
375 Northumberland Ave	0.74mi	3/2.5	1,056 (-0%)	17mo	$165,000	$156	45
272 Stevens Ave	0.45mi	4/1.0 (+1)	962 (-9%)	18mo	$58,000	$60	44
68 Wecker St	0.72mi	4/2.0 (+1)	1,148 (+8%)	6mo	$180,000	$157	39

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

Projected returns pro-forma

-3.0% appreciation · 0.67% rent growth · sell at horizon

5-year hold

• IRR: 6.6%
• Equity multiple: 1.25×
• Total profit: $6,331
• Equity at exit: $13,404

10-year hold

• IRR: 13.7%
• Equity multiple: 1.98×
• Total profit: $24,554
• Equity at exit: $7,773

Cash invested: $25,172 (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 14215

• Home prices YoY: -30.0%
• Rents YoY: 0.7%
• Active inventory: 237
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,332 high
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $375

Break-even live

Break-even rent $857

Max offer price $89,900

Occupancy floor 67%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
408 Winslow Ave Unit 2 Buffalo, NY	3.0	1.0	1000	$1,050	$1.05	14d	1	0.55mi
85 Blake St Unit 1 Buffalo, NY	4.0	2.0	1022	$1,000	$0.98	43d	1	0.83mi
90 Sussex St Unit 2 Buffalo, NY	2.0	1.0	1000	$1,000	$1.00	43d	1	0.86mi
67 Moeller St Unit UPPER Buffalo, NY	3.0	1.0	960	$1,000	$1.04	3d	1	0.87mi
67 Moeller St Unit LOWER Buffalo, NY	3.0	1.0	960	$1,200	$1.25	23d	1	0.87mi
184 Butler Ave Unit 1545840P Buffalo, NY	4.0	1.0	1496	$3,226	$2.16	14d	1	0.93mi
56 Hagen St #2 Buffalo, NY	2.0	1.0	850	$950	$1.12	43d	1	0.96mi
74 Dorris Ave Buffalo, NY	3.0	1.0	1200	$1,450	$1.21	43d	1	0.98mi
179 Donaldson Rd Buffalo, NY	3.0	1.0	1152	$1,350	$1.17	3d	1	0.99mi
249 Newburgh Ave Unit 2 Buffalo, NY	2.0	1.0	930	$1,300	$1.40	43d	1	1.04mi
17 Proctor Ave Unit 1 Buffalo, NY	2.0	1.0	900	$1,100	$1.22	43d	1	1.07mi
104 Butler Ave Buffalo, NY	3.0	1.0	1000	$1,400	$1.40	43d	1	1.08mi
61 Courtland Ave Unit Lower Buffalo, NY	2.0	1.0	1000	$1,300	$1.30	43d	1	1.12mi
160 Courtland Ave Buffalo, NY	2.0	1.0	810	$1,025	$1.27	14d	1	1.21mi
102 Florida St Buffalo, NY	3.0	1.0	1296	$1,650	$1.27	43d	1	1.49mi

Listing history 20 events

1. 2026-06-18
   days on market $89,900 Active 7 DOM
2. 2026-06-17
   days on market $89,900 Active 6 DOM
3. 2026-06-16
   days on market $89,900 Active 5 DOM
4. 2026-06-15
   days on market $89,900 Active 4 DOM
5. 2026-06-13
   days on market $89,900 Active 2 DOM
6. 2026-06-13
   remarks 576-char remark
7. 2026-06-13
   days on marketlisting id $89,900 Active 1 DOM
8. 2026-05-31
   days on market $89,900 Active 139 DOM
9. 2026-03-11
   price $94,900 548-char remark

   Show marketing remark (548 chars)

   Welcome to this 3-bedroom, 1-bathroom bungalow in the City of Buffalo. Step inside to find hardwood floors and natural woodwork flowing through the spacious living and dining rooms. Large eat-in kitchen provides plenty of room for meal prep and additional den/office space offers flexibility for a home office or potential 4th bedroom. Enjoy outdoor living on the covered front porch or back deck, and take advantage of the oversized garage for parking and storage. This home is the perfect opportunity for both owner occupants and investors alike.

10. 2026-01-12
    listed $99,900 Active 548-char remark

    Show marketing remark (548 chars)

    Welcome to this 3-bedroom, 1-bathroom bungalow in the City of Buffalo. Step inside to find hardwood floors and natural woodwork flowing through the spacious living and dining rooms. Large eat-in kitchen provides plenty of room for meal prep and additional den/office space offers flexibility for a home office or potential 4th bedroom. Enjoy outdoor living on the covered front porch or back deck, and take advantage of the oversized garage for parking and storage. This home is the perfect opportunity for both owner occupants and investors alike.

11. 2026-01-06
    historical
12. 2025-12-02
    price $99,900
13. 2025-11-10
    price $109,900
14. 2025-10-14
    price $119,900
15. 2025-09-19
    listed $129,900 Active
16. 2022-06-01
    soldstatus $90,000 Closed Sale or Rented
17. 2022-05-26
    soldstatus $90,000
18. 2022-04-22
    status Pending Sale
19. 2022-04-15
    status Under Contract- Do Not Show
20. 2022-04-12
    listed $89,900 Active

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 77% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 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: $15,980
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$1,116
• − Repairs & maintenance: −$1,278
• − Management: −$1,278
• − Depreciation: −$2,615
• Taxable income: $3,307
• Est. tax owed @ 24.0%: −$794
• After-tax cash flow: $3,708/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): 42,524
• Household income: $44,955
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 2873.0

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: Predominantly Black (67%)
• Race & ethnicity: Black 67% White 15% Asian 7% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada, China
• Languages at home: 88% English-only · Other Indo-European 4% Spanish 4% Chinese 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: ▼ -126.29%
• Current HPI: 295.2966
• Rent YoY: ▲ 0.67%
• 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

+5.6% since first listed

12 events — show timeline

• 2026-03-11 Price Changed $94,900 WNYREIS
• 2026-01-12 Listed $99,900 WNYREIS
• 2026-01-06 Listing Removed — WNYREIS
• 2025-12-02 Price Changed $99,900 WNYREIS
• 2025-11-10 Price Changed $109,900 WNYREIS
• 2025-10-14 Price Changed $119,900 WNYREIS
• 2025-09-19 Listed $129,900 WNYREIS
• 2022-06-01 Sold (MLS) $90,000 WNYREIS
• 2022-05-26 Sold (Public Records) $90,000 Public Records
• 2022-04-22 Pending — WNYREIS
• 2022-04-15 Pending — WNYREIS
• 2022-04-12 Listed $89,900 WNYREIS

Property tax history

+1.6%/yr

Latest (2025): $123 · +0.0% YoY. Source: county tax records.