53 Duerstein St · Buffalo, NY 14210

$279,900

6 bd · 2.0 ba · 2,112 sqft · MultiFamily public records · 76 Days on market

Built 1880 3,745 sqft lot Est $228k · 23% over

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Cash flow +6.9/30.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +1.1/10.0
• 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

Newly renovated multi-family home located at 53 Duerstein St in Buffalo’s 14210 area. This property offers strong potential for both owner-occupants and investors. Each unit is spacious and includes 3 bedrooms, 1 full bathroom, a living room, dining room, and a functional kitchen layout. The floor plans provide good natural light and comfortable room sizes, making the units easy to rent or live in. The home sits on a deep lot with a long driveway that provides plenty of off-street parking. At the end of the driveway, you’ll find a two-car detached garage, offering extra storage or potential workspace. The property also includes a full attic and a full basement supported by a sol

Key facts

• Deep lot
• Long driveway
• Multi-family home

Tags

• MULTI-FAMILY HOME
• DEEP LOT
• LONG DRIVEWAY
• OFF-STREET PARKING
• TWO-CAR DETACHED GARAGE
• FULL ATTIC

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $280k.

Deal economics

• At list price, monthly cash flow is $-427 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $218k (22.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (31.8% below list).
• Recommended offer: $191k (31.8% below list) — sets the bar for 1% rule.
• Cap rate 4.5% vs local median 8.0% in Buffalo — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 rising fast (+12.7%/yr); 94 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 42% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $30k; list at $280k implies a 833% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $190,799 (31.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.68% ✗
• Cap rate: 4.46%
• Cash-on-cash: -6.54%
• DSCR: 0.71
• GRM: 12.2

CMA / ARV

• ARV (on-the-fly): $228,096
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
71 Buffum St	0.23mi	5/2.0 (-1)	2,136 (+1%)	6mo	$160,000	$75	77
154 Chamberlin Dr	0.29mi	5/2.0 (-1)	2,182 (+3%)	2mo	$242,400	$111	74
96 Wildwood Pl	0.24mi	6/2.0	2,288 (+8%)	8mo	$90,000	$39	68
30 Chamberlin Dr	0.33mi	5/2.0 (-1)	2,208 (+4%)	5mo	$239,800	$109	68
35 Duerstein St	0.04mi	6/2.0	2,400 (+14%)	11mo	$260,000	$108	66
18 Stephenson Ave	0.50mi	6/2.0	1,978 (-6%)	2mo	$226,000	$114	64
69 Red Jacket Pkwy	0.64mi	6/2.0	2,032 (-4%)	10mo	$229,000	$113	55
26 Kamper Ave	0.48mi	6/2.0	2,394 (+13%)	3mo	$179,000	$75	53
132 Ryan St	0.64mi	6/3.0	2,230 (+6%)	7mo	$205,000	$92	51
110 Weyand Ave	0.53mi	6/2.0	2,344 (+11%)	10mo	$235,000	$100	49
389 Cumberland Ave	0.55mi	5/2.0 (-1)	2,328 (+10%)	5mo	$280,000	$120	48
32 Magnolia Ave	0.61mi	6/2.0	2,376 (+12%)	5mo	$225,000	$95	46

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

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 21.0%
• Equity multiple: 2.73×
• Total profit: $135,356
• Equity at exit: $252,156

10-year hold

• IRR: 20.2%
• Equity multiple: 6.68×
• Total profit: $445,026
• Equity at exit: $543,784

Cash invested: $78,372 (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 14210

• Home prices YoY: 13.8%
• Rents YoY: 12.7%
• Active inventory: 94
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $1,908 medium
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,198/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $-427

Break-even live

Break-even rent $2,449

Max offer price $218,110

Occupancy floor —

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-03-27
   status Pending
2. 2026-02-09
   price $279,900
3. 2026-01-02
   listed $254,900 Active
4. 2015-01-02
   soldstatus $30,000
5. 2004-01-27
   soldstatus $36,000
6. 1998-10-27
   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 5/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 16 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: $22,896
• − Mortgage interest: −$15,679
• − Property taxes: −$4,198
• − Insurance: −$1,400
• − Repairs & maintenance: −$1,832
• − Management: −$1,832
• − Depreciation: −$8,143
• Taxable loss: −$10,187
• Est. tax savings @ 24.0%: +$2,445
• After-tax cash flow: $-2,679/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): 15,563
• Household income: $54,197
• Rent vs Own: 53.9% rent · 46.1% own
• Severe rent burden: 959.0

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 White (79%)
• Race & ethnicity: White 79% Two or more races 8% Black 8% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 21% Lithuanian 2% Serbian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 95% English-only · Spanish 2% Arabic 1% Other Indo-European 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: ▲ 52.34%
• Current HPI: 431.7951
• Rent YoY: ▲ 12.67%
• 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

+1019.6% since first listed

6 events — show timeline

• 2026-03-27 Pending — WNYREIS
• 2026-02-09 Price Changed $279,900 WNYREIS
• 2026-01-02 Listed $254,900 WNYREIS
• 2015-01-02 Sold (Public Records) $30,000 Public Records
• 2004-01-27 Sold (Public Records) $36,000 Public Records
• 1998-10-27 Sold (Public Records) $25,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $319 · +0.0% YoY. Source: county tax records.