276 Hampshire St · Buffalo, NY 14213

$199,900

6 bd · 2.0 ba · 2,900 sqft · MultiFamily public records · 51 Days on market

Built 1894 2,560 sqft lot $69/sqft · 43% below area Est $348k · 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.8/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Spacious 3/3 double located in Buffalo West Side offering rare underground garage parking for two cars. Each unit features a bright and inviting living room, formal dining room, large kitchen, three bedrooms, full bath and ample storage throughout. The lower unit includes the convenience of in-unit laundry, while the upper unit offers a desirable walk-in pantry. The partially finished third floor attic provides additional versatile space perfect for storage or future expansion. Full basement with solid mechanicals, additional laundry hookups, and direct access to the garage. Recent updates include a metal roof, lower furnace and hot water tank, first floor laundry, updated flooring, and a n

Key facts

• Recent updates
• Full basement
• In unit laundry

Tags

• UNDERGROUND GARAGE PARKING
• IN UNIT LAUNDRY
• WALK IN PANTRY
• PARTIALLY FINISHED ATTIC
• FULL BASEMENT
• RECENT UPDATES

Property features AI

Finance

• Financial info: Property is a 2-unit multifamily with separate gas and electric meters; Owner pays trash collection and water; rent includes trash collection and water; Operating expenses include trash and water/sewer; One unit currently rented for $750 month-to-month

Exterior

• Parking: 2-car garage; Two or more off-street parking spaces
• Utilities: Public water connected; Sewer connected; Circuit breaker electrical service
• Home design: Two-story building; Existing construction
• Construction: Vinyl siding; Metal roof; Stone foundation; Resale property
• Exterior features: Enclosed porch; Porch; Fully fenced yard

Interior

• Kitchen: Gas water heater (appliance listed)
• Bedrooms: Two 3-bedroom units
• Flooring: Hardwood; Tile; Vinyl; Varies
• Bathrooms: Units each have 1 full bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Formal dining room; Living room; Other interior features (see remarks)
• Laundry & utility: One unit includes in-unit laundry

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.0% 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 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 $4,610/mo this rent would consume 103% 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 $16k of equity ($1k loan paydown + $15k appreciation (7.5% local appreciation)).
• At projected returns (7.5% appreciation + 0.0% rent growth), your $56k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1894 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $193,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1894 — 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: 2.31% ✓
• Cap rate: 20.98%
• Cash-on-cash: 52.46%
• DSCR: 3.33
• GRM: 3.6

CMA / ARV

• ARV (median comp): $347,677
• List price: $199,900
• Delta: -42.50%
• 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
715 Prospect Ave	0.52mi	6/2.0	2,867 (-1%)	6mo	$232,500	$81	68
711 West Ave	0.27mi	6/2.0	2,592 (-11%)	9mo	$150,000	$58	62
30 S Putnam St Unit W	0.42mi	7/3.5 (+1)	2,835 (-2%)	7mo	$170,000	$60	60
288 14th St	0.39mi	5/2.0 (-1)	2,616 (-10%)	6mo	$260,000	$99	55
187 Auburn Ave	0.35mi	5/2.0 (-1)	2,588 (-11%)	7mo	$289,000	$112	55
800 Columbus Pkwy	0.64mi	6/2.0	3,084 (+6%)	9mo	$420,000	$136	52
1130 West Ave	0.59mi	6/3.0	2,715 (-6%)	8mo	$235,000	$87	51
215 Normal Ave	0.52mi	5/2.0 (-1)	2,626 (-9%)	7mo	$294,000	$112	49
215 Baynes St	0.65mi	6/2.0	2,660 (-8%)	8mo	$255,000	$96	49
26 York St	0.70mi	6/2.0	2,519 (-13%)	1mo	$199,900	$79	44
569 Auburn Ave	0.72mi	6/2.0	2,656 (-8%)	11mo	$465,000	$175	43
383 Summer St	0.74mi	5/2.0 (-1)	2,468 (-15%)	6mo	$492,000	$199	31

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: 60.4%
• Equity multiple: 4.90×
• Total profit: $218,435
• Equity at exit: $145,282

10-year hold

• IRR: 54.8%
• Equity multiple: 9.81×
• Total profit: $493,087
• Equity at exit: $282,318

Cash invested: $55,972 (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: 10.8×

Monthly cashflow live

• Estimated rent: $4,610 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$64 /mo · $763/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$968
• Net cashflow: $2,447

Break-even live

Break-even rent $1,513

Max offer price $199,900

Occupancy floor 42%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$4,611
Total (3 units)			$4,610

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $199,900 Active 51 DOM
2. 2026-06-17
   days on market $199,900 Active 50 DOM
3. 2026-06-16
   days on market $199,900 Active 49 DOM
4. 2026-06-15
   days on market $199,900 Active 48 DOM
5. 2026-06-13
   days on market $199,900 Active 46 DOM
6. 2026-06-13
   days on market $199,900 Active 45 DOM
7. 2026-06-10
   days on market $199,900 Active 43 DOM
8. 2026-06-09
   days on market $199,900 Active 42 DOM
9. 2026-06-08
   days on market $199,900 Active 41 DOM
10. 2026-06-07
    days on market $199,900 Active 40 DOM
11. 2026-06-03
    days on market $199,900 Active 36 DOM
12. 2026-06-02
    days on market $199,900 Active 35 DOM
13. 2026-06-01
    days on market $199,900 Active 34 DOM
14. 2026-05-31
    days on market $199,900 Active 33 DOM
15. 2026-04-28
    listed $199,900 Active 749-char remark

ⓘ 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: $763 · $64/mo
• Projected year-2 tax: $2,071 · $173/mo
• Expected delta: +$1,308/yr (+$109/mo · 171.4%)

ⓘ 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: $55,320
• − Mortgage interest: −$11,198
• − Property taxes: −$763
• − Insurance: −$1,000
• − Repairs & maintenance: −$4,426
• − Management: −$4,426
• − Depreciation: −$5,815
• Taxable income: $27,694
• Est. tax owed @ 24.0%: −$6,646
• After-tax cash flow: $22,714/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

1 event — show timeline

• 2026-04-28 Listed $199,900 WNYREIS

Property tax history

+12.1%/yr

Latest (2025): $763 · +8.9% YoY. Source: county tax records.