24 Matejko St · Buffalo, NY 14206

$180,000

4 bd · 2.0 ba · 2,117 sqft · MultiFamily public records · 60 Days on market

Built 1930 4,470 sqft lot Est $184k · at est.

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Why this score? — see what drove the C- 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 +14.9/30.0
• Appreciation +9.0/10.0
• ARV discount +8.5/15.0
• DSCR +4.5/10.0
• 1% rule +4.1/10.0
• 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

This spacious 6 bedroom, 2 full bath Colonial with off-street parking is full of character and ready for your finishing touches. Step onto the inviting front porch and into a generously sized living room featuring wall-to-wall carpeting and plumbing in place for a wood stove or fireplace. French doors lead to the formal dining room, which flows into a remodeled eat-in kitchen complete with wood cabinetry. The first floor also offers two bedrooms and a full bath with tub/shower and built-in linen storage. The second floor features three additional bedrooms, a second full bath with walk-in shower and double-sink vanity, plus two versatile bonus living areas perfect for a home office, family r

Key facts

• Double-sink vanity
• Bonus living areas
• Walk-in shower

Tags

• REMODELED EAT-IN KITCHEN
• BUILT-IN LINEN STORAGE
• WALK-IN SHOWER
• DOUBLE-SINK VANITY
• BONUS LIVING AREAS
• PARTIALLY FENCED YARD

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $52 ($623/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (8.9% below list).
• Recommended offer: $164k (8.9% below list) — sets the bar for 1% rule.

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: 169 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 39% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $180k implies a 300% 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 $164,028 (8.9% below list)

Questions for the listing agent

1. It's been on market 60 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 0.91% ✗
• Cap rate: 6.64%
• Cash-on-cash: 1.24%
• DSCR: 1.05
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $184,179
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
150 Weiss St	0.19mi	5/2.0 (+1)	2,121 (+0%)	8mo	$100,000	$47	79
120 Weiss St	0.23mi	5/2.0 (+1)	2,040 (-4%)	2mo	$80,000	$39	76
129 Gorski St	0.20mi	3/2.0 (-1)	2,054 (-3%)	7mo	$130,000	$63	74
204 Cable St	0.29mi	5/2.0 (+1)	2,047 (-3%)	7mo	$190,000	$93	70
323 Holly St	0.43mi	5/2.0 (+1)	2,112 (-0%)	8mo	$180,000	$85	68
100 Shanley St	0.68mi	4/2.0	2,112 (-0%)	7mo	$190,000	$90	62
52 Fredro St	0.25mi	4/2.0	1,856 (-12%)	7mo	$43,000	$23	62
210 Weimar St	0.26mi	5/2.0 (+1)	1,848 (-13%)	4mo	$175,000	$95	58
111 Roberts Ave	0.22mi	5/2.0 (+1)	1,810 (-14%)	5mo	$115,000	$64	57
12 Hobart St	0.67mi	4/2.0	2,012 (-5%)	8mo	$175,000	$87	54
125 Shanley St	0.72mi	5/3.0 (+1)	2,200 (+4%)	8mo	$282,000	$128	45
110 Armin Pl	0.74mi	5/2.0 (+1)	2,366 (+12%)	1mo	$235,000	$99	40

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

Projected returns pro-forma

8.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.1%
• Equity multiple: 2.55×
• Total profit: $78,151
• Equity at exit: $137,466

10-year hold

• IRR: 19.4%
• Equity multiple: 5.45×
• Total profit: $224,367
• Equity at exit: $273,554

Cash invested: $50,400 (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 14206

• Home prices YoY: 1.8%
• Active inventory: 169
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,640 medium
• Mortgage (P&I): −$944
• Tax est. 1.5%: −$225 /mo · $2,700/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $52

Break-even live

Break-even rent $1,575

Max offer price $180,000

Occupancy floor 92%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
181 Willett St Buffalo, NY	3.0	1.0	2704	$1,550	$0.57	1d	1	0.61mi

Listing history 18 events

1. 2026-04-24
   status Pending
2. 2026-04-04
   price $180,000
3. 2026-03-18
   price $125,000
4. 2026-02-21
   listed $199,900 Active
5. 2026-01-23
   historical
6. 2025-11-11
   listed $225,000 Active
7. 2024-04-04
   historical
8. 2024-03-05
   price $104,900
9. 2024-02-21
   price $109,900
10. 2024-02-13
    price $119,900
11. 2024-02-05
    listed $130,000 Active
12. 2023-06-23
    soldstatus $45,000 Closed Sale or Rented
13. 2023-05-19
    status Pending Sale
14. 2023-05-09
    listed $45,000 Active
15. 2010-07-15
    soldstatus $53,900
16. 2009-12-18
    listed $49,900
17. 1996-02-16
    soldstatus $38,000
18. 1996-01-24
    soldstatus $25,000

ⓘ 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 2/10 Low FEMA zone X (unshaded) · 9% 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,683
• − Mortgage interest: −$10,083
• − Property taxes: −$2,700
• − Insurance: −$900
• − Repairs & maintenance: −$1,575
• − Management: −$1,575
• − Depreciation: −$5,236
• Taxable loss: −$2,385
• Est. tax savings @ 24.0%: +$572
• After-tax cash flow: $1,195/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): 21,631
• Household income: $50,450
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 841.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 13% Black 12% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10%
• Common ancestry: Romanian 25% Lithuanian 1% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Arabic 2%

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: ▲ 8.06%
• Current HPI: 457.3935
• 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

+620.0% since first listed

18 events — show timeline

• 2026-04-24 Pending — WNYREIS
• 2026-04-04 Price Changed $180,000 WNYREIS
• 2026-03-18 Price Changed $125,000 WNYREIS
• 2026-02-21 Listed $199,900 WNYREIS
• 2026-01-23 Listing Removed — WNYREIS
• 2025-11-11 Listed $225,000 WNYREIS
• 2024-04-04 Listing Removed — WNYREIS
• 2024-03-05 Price Changed $104,900 WNYREIS
• 2024-02-21 Price Changed $109,900 WNYREIS
• 2024-02-13 Price Changed $119,900 WNYREIS
• 2024-02-05 Listed $130,000 WNYREIS
• 2023-06-23 Sold (MLS) $45,000 WNYREIS
• 2023-05-19 Pending — WNYREIS
• 2023-05-09 Listed $45,000 WNYREIS
• 2010-07-15 Sold (MLS) $53,900 WNYREIS
• 2009-12-18 Listed $49,900 WNYREIS
• 1996-02-16 Sold (Public Records) $38,000 Public Records
• 1996-01-24 Sold (Public Records) $25,000 Public Records

Property tax history

+0.7%/yr

Latest (2025): $342 · +0.0% YoY. Source: county tax records.