237 Rounds Ave · Buffalo, NY 14215

$269,900

5 bd · 3.0 ba · 1,778 sqft · MultiFamily public records · 6 Days on market

Built 1930 3,090 sqft lot $152/sqft · 28% below area Est $377k · 28% under

---

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 +15.1/30.0
• ARV discount +15.0/15.0
• DSCR +4.6/10.0
• 1% rule +4.2/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great tenant occupied Double near University with long rental history.

Key facts

• New siding
• New flooring
• Updated kitchen

Tags

• UPDATED KITCHEN
• NEW ROOF
• NEW SIDING
• NEW FLOORING
• FRESH INTERIOR PAINT
• MODERN BATHROOMS

Property features AI

Finance

• Other: Owner/tenant utility responsibilities: See remarks
• Financial info: Two-unit property with separate gas and electric meters for each unit; Operating expense details: See remarks

Exterior

• Parking: 2-car garage; Concrete parking surfaces
• Utilities: Public water connected; Sewer connected
• Home design: Single-story building; Resale property
• Construction: Frame construction; Asphalt roof; Stone foundation; Built (existing)
• Exterior features: Near public transit; Rectangular lot (approx. 30 x 103)

Interior

• Kitchen: Eat-in kitchen (in one unit); Formal dining room (in the other unit)
• Bedrooms: One unit with 2 bedrooms; One unit with 3 bedrooms
• Flooring: Hardwood; Tile; Vinyl; Varies
• Bathrooms: Two full bathrooms total (one full bathroom in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Accessible doors; Full basement
• Laundry & utility: Gas water heater

🏷️ Possibly a rental listed for sale. The $269,900 price doesn't fit this home's estimated sale value (~$376,972) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $270k.

Deal economics

• At list price, monthly cash flow is $91 ($1k/yr) — positive. Per door: $45/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $248k (8.3% below list).
• Recommended offer: $248k (8.3% 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.
• Zoned schools: International School (math 8% / reading 17%, grade F, #2,048 of 2,108 statewide, top 97%, 981 students, 92% FRL); Hutchinson Central Technical High School (math 96% / reading 32%, grade B-, #807 of 1,100 statewide, top 73%, 1,175 students, 78% FRL).
• Market conditions: Rents flat; 239 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,476/mo this rent would consume 66% of the median local household income ($45k/yr) (locally 2873% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 17y 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.
• Current owner paid $83k; list at $270k implies a 225% 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 $247,600 (8.3% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 0.92% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.44%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

• ARV (median comp): $376,972
• List price: $269,900
• Delta: -28.40%
• 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
622 Minnesota Ave	0.12mi	4/2.0 (-1)	1,800 (+1%)	3mo	$175,000	$97	80
626 Lisbon Ave	0.03mi	5/2.0	1,919 (+8%)	8mo	$250,000	$130	74
591 Eggert Rd	0.21mi	5/2.0	1,725 (-3%)	12mo	$250,000	$145	72
638 Highgate Ave	0.09mi	4/2.0 (-1)	1,900 (+7%)	6mo	$178,000	$94	71
191 Rounds Ave	0.09mi	4/4.0 (-1)	1,806 (+2%)	19mo	$185,000	$102	68
587 Lisbon Ave	0.11mi	4/2.0 (-1)	1,573 (-12%)	7mo	$210,000	$134	61
715 Lasalle Ave	0.17mi	4/2.0 (-1)	1,617 (-9%)	8mo	$250,000	$155	61
627 Highgate Ave	0.06mi	4/2.0 (-1)	1,944 (+9%)	16mo	$238,000	$122	59
171 Davidson Ave	0.70mi	4/2.5 (-1)	1,857 (+4%)	10mo	$200,000	$108	44
456 Minnesota Ave	0.41mi	4/2.0 (-1)	1,582 (-11%)	13mo	$230,000	$145	42
314 Lasalle Ave	0.72mi	4/2.0 (-1)	1,675 (-6%)	8mo	$170,000	$101	41
197 Dartmouth Ave	0.67mi	4/2.0 (-1)	1,841 (+4%)	20mo	$165,000	$90	38

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: -16.6%
• Equity multiple: 0.42×
• Total profit: $-43,587
• Equity at exit: $40,243

10-year hold

• IRR: -13.3%
• Equity multiple: 0.30×
• Total profit: $-52,570
• Equity at exit: $23,336

Cash invested: $75,572 (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: 239
• Price-to-rent: 18.2×

Monthly cashflow live

• Estimated rent: $2,476 high
• Mortgage (P&I): −$1,415
• Tax est. 1.5%: −$337 /mo · $4,048/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$520
• Net cashflow: $91

Break-even live

Break-even rent $2,361

Max offer price $269,900

Occupancy floor 91%

Sensitivity live

Price	-10% $277	-5% $184	+0% $91	+5% $-2	+10% $-96
Rent	-10% $-105	-5% $-7	+0% $91	+5% $189	+10% $286
Rate	-1.0pp $227	-0.5pp $159	base $91	+0.5pp $21	+1.0pp $-50

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,476
Total (2 units)			$2,476

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
222 Lisbon Ave Buffalo, NY	4.0	1.0	1300	$1,400	$1.08	25d	1	0.78mi
175 Lisbon Ave Buffalo, NY	5.0	2.0	2000	$2,500	$1.25	16d	1	0.87mi
65 Northrup Pl Buffalo, NY	5.0	2.0	1467	$2,500	$1.70	16d	1	0.99mi
85 Highgate Ave Buffalo, NY	5.0	2.0	2193	$3,750	$1.71	16d	1	1.00mi
91 Springville Ave Buffalo, NY	4.0	2.0	1660	$2,350	$1.42	25d	1	1.12mi
80 Capen Blvd Buffalo, NY	5.0	2.5	2591	$2,800	$1.08	3d	1	1.15mi
60 Englewood Ave Buffalo, NY	4.0	1.0	1400	$1,650	$1.18	3d	1	1.16mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,997	$2.93	3d	10	1.17mi
24 Custer St Buffalo, NY	5.0	2.0	2500	$3,000	$1.20	16d	1	1.19mi
69 Berryman Dr Buffalo, NY	4.0	1.5	2056	$2,950	$1.43	3d	1	1.21mi
91 Englewood Ave Buffalo, NY	4.0	1.0	2500	$2,000	$0.80	3d	1	1.22mi
102 Englewood Ave Buffalo, NY	4.0	1.0	2426	$2,750	$1.13	3d	1	1.24mi
63 Montrose Ave Buffalo, NY	4.0	1.0	2240	$2,000	$0.89	3d	1	1.27mi
196 Englewood Ave Buffalo, NY	5.0	1.5	2560	$2,000	$0.78	3d	1	1.41mi
4098 Bailey Ave Buffalo, NY	5.0	2.5	2108	$2,200	$1.04	45d	1	1.44mi

Listing history 9 events

1. 2026-05-08
   status Pending 749-char remark
2. 2026-05-01
   listed $269,900 Active 749-char remark
3. 2019-01-09
   soldstatus $83,000 Closed Sale or Rented 70-char remark

   Show marketing remark (70 chars)

   Great tenant occupied Double near University with long rental history.

4. 2019-01-09
   soldstatus $83,000

   Show marketing remark (70 chars)

   Great tenant occupied Double near University with long rental history.

5. 2018-10-12
   status Under Contract- Do Not Show 70-char remark

   Show marketing remark (70 chars)

   Great tenant occupied Double near University with long rental history.

6. 2018-09-10
   listed $89,000 Active 70-char remark

   Show marketing remark (70 chars)

   Great tenant occupied Double near University with long rental history.

7. 2010-12-16
   soldstatus $51,000
8. 2010-04-30
   soldstatus $14,550

   Show marketing remark (169 chars)

   Property Sold "As Is". 2 Family with a 2 car garage. Full basement, 3 bedrooms in 1 unit and 2 bedrooms in the other. Seller does not pay for search or Survey.

9. 2009-07-17
   listed $16,900

   Show marketing remark (169 chars)

   Property Sold "As Is". 2 Family with a 2 car garage. Full basement, 3 bedrooms in 1 unit and 2 bedrooms in the other. Seller does not pay for search or Survey.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 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: $29,712
• − Mortgage interest: −$15,119
• − Property taxes: −$4,048
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,377
• − Management: −$2,377
• − Depreciation: −$7,852
• Taxable loss: −$3,410
• Est. tax savings @ 24.0%: +$818
• After-tax cash flow: $1,908/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

+1497.0% since first listed

9 events — show timeline

• 2026-05-08 Pending — WNYREIS
• 2026-05-01 Listed $269,900 WNYREIS
• 2019-01-09 Sold (Public Records) $83,000 Public Records
• 2019-01-09 Sold (MLS) $83,000 WNYREIS
• 2018-10-12 Pending — WNYREIS
• 2018-09-10 Listed $89,000 WNYREIS
• 2010-12-16 Sold (Public Records) $51,000 Public Records
• 2010-04-30 Sold (MLS) $14,550 WNYREIS
• 2009-07-17 Listed $16,900 WNYREIS

Property tax history

+6.5%/yr

Latest (2025): $502 · +33.7% YoY. Source: county tax records.