165 Folger St · Buffalo, NY 14220

$159,400

3 bd · 1.0 ba · 1,440 sqft · SingleFamily public records · 3 Days on market

Built 1928 5,880 sqft lot $111/sqft · 30% below area Est $228k · 30% under

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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 +19.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.1/10.0
• Rent growth +4.4/5.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 165 Folger Street in the heart of South Buffalo! This charming single-family home offers 3 bedrooms, 1 full bath, and solid mechanics throughout. Enjoy a traditional layout featuring a spacious living room and formal dining room, perfect for everyday living and entertaining. The home also includes a full basement and full attic, providing ample storage or potential for additional use. Outside, you’ll find a fully fenced backyard complete with a storage shed, ideal for gardening, hobbies, or extra space. Perfect for owner occupancy or investors, this property is conveniently located near public transportation, shopping, restaurants, parks, and much more. A great opportunity to own in a desirable South Buffalo neighborhood! Seller will provide the existing survey with an affidavit of no change and a 40-year search on the note.

Key facts

• 5,880 sq ft lot
• Built 1928
• Listed 3 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $176 ($2k/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 $141k (11.4% below list).
• Recommended offer: $141k (11.4% 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: Rents rising fast (+7.6%/yr); 136 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.6% rent growth), your $45k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $47k; list at $159k implies a 239% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $141,278 (11.4% below list)

Questions for the listing agent

1. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.89% ✗
• Cap rate: 7.62%
• Cash-on-cash: 4.74%
• DSCR: 1.21
• GRM: 9.4

CMA / ARV

• ARV (median comp): $227,744
• List price: $159,400
• Delta: -30.01%
• 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
66 Choate Ave	0.44mi	4/1.5 (+1)	1,449 (+1%)	2mo	$245,066	$169	70
30 Amber St	0.47mi	3/1.0	1,515 (+5%)	1mo	$196,000	$129	69
32 Lorraine Ave	0.53mi	3/1.0	1,365 (-5%)	3mo	$235,000	$172	64
59 Hammerschmidt Ave	0.70mi	3/1.0	1,405 (-2%)	1mo	$232,500	$165	62
417 Abbott Rd	0.44mi	3/2.0	1,350 (-6%)	4mo	$223,000	$165	62
53 Choate Ave	0.45mi	3/1.0	1,599 (+11%)	1mo	$198,000	$124	60
39 Crystal Ave	0.43mi	3/1.0	1,248 (-13%)	0mo	$212,000	$170	58
66 Woodside Ave	0.59mi	3/2.0	1,364 (-5%)	3mo	$250,000	$183	57
67 Lockwood Ave	0.49mi	3/1.0	1,232 (-14%)	5mo	$232,000	$188	49
60 Lorraine Ave	0.55mi	4/2.0 (+1)	1,581 (+10%)	5mo	$359,000	$227	45
84 Alsace Ave	0.52mi	3/1.5	1,227 (-15%)	5mo	$235,000	$192	45
65 Hammerschmidt Ave	0.71mi	3/1.5	1,620 (+12%)	1mo	$195,000	$120	43

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 · 7.62% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.83×
• Total profit: $-7,800
• Equity at exit: $23,767

10-year hold

• IRR: 9.4%
• Equity multiple: 1.86×
• Total profit: $38,390
• Equity at exit: $13,782

Cash invested: $44,632 (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 14220

• Home prices YoY: -26.7%
• Rents YoY: 7.6%
• Active inventory: 136
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,413 high
• Mortgage (P&I): −$836
• Tax from tax record: −$37 /mo · $448/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $176

Break-even live

Break-even rent $1,189

Max offer price $159,400

Occupancy floor 83%

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: $39,850
• Closing costs: $4,782
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
89 Macamley St #2 Buffalo, NY	3.0	1.0	1274	$1,100	$0.86	10d	1	0.24mi
214 Abbott Rd Unit 2 Buffalo, NY	2.0	1.0	945	$1,200	$1.27	14d	1	0.41mi
86 Edgewood Ave Buffalo, NY	2.0	2.0	1700	$1,700	$1.00	1d	1	0.47mi
298 Cumberland Ave Buffalo, NY	3.0	1.5	1208	$2,200	$1.82	1d	1	0.56mi
74 Woodside Ave Unit 1 Buffalo, NY	3.0	1.0	1250	$1,510	$1.21	1d	1	0.57mi
700 Hopkins St Buffalo, NY	3.0	1.0	1100	$1,225	$1.11	14d	1	0.60mi
76 Hammerschmidt Ave Buffalo, NY	3.0	1.0	1200	$1,275	$1.06	1d	1	0.74mi
1927 Seneca St Buffalo, NY	3.0	1.0	1196	$1,250	$1.05	23d	1	0.82mi
1899 Seneca St Buffalo, NY	3.0	1.0	1134	$1,075	$0.95	14d	1	0.82mi
2111 Seneca St #3 Buffalo, NY	2.0	1.0	937	$1,150	$1.23	43d	1	0.86mi
34 Hayden St Unit Back Buffalo, NY	3.0	1.0	1200	$1,600	$1.33	43d	1	0.90mi
23 Indian Orchard Pl Unit Lower Buffalo, NY	3.0	1.0	1200	$1,250	$1.04	43d	1	1.16mi
102 Wildwood Pl Unit 1 Buffalo, NY	3.0	1.0	1100	$1,250	$1.14	15d	1	1.30mi
40 Vincent Ave Unit 2 Buffalo, NY	2.0	1.0	1075	$875	$0.81	23d	1	1.35mi
47 Lester St Unit Main Floor Buffalo, NY	3.0	1.0	900	$1,000	$1.11	43d	1	1.37mi
46 Kirkwood Dr Unit Lower West Seneca, NY	2.0	1.0	1064	$1,350	$1.27	15d	1	1.49mi

Listing history 19 events

1. 2026-06-18
   days on market $159,400 Active 3 DOM
2. 2026-06-17
   days on market $159,400 Active 2 DOM
3. 2026-06-15
   days on marketlisting id $159,400 Active 1 DOM
4. 2026-06-15
   days on market $159,400 Active 129 DOM
5. 2026-06-13
   days on market $159,400 Active 127 DOM
6. 2026-06-13
   days on market $159,400 Active 126 DOM
7. 2026-06-10
   days on market $159,400 Active 124 DOM
8. 2026-06-09
   days on market $159,400 Active 123 DOM
9. 2026-06-08
   days on market $159,400 Active 122 DOM
10. 2026-06-07
    days on market $159,400 Active 121 DOM
11. 2026-06-03
    days on market $159,400 Active 117 DOM
12. 2026-06-02
    days on market $159,400 Active 116 DOM
13. 2026-06-01
    days on market $159,400 Active 115 DOM
14. 2026-05-31
    days on market $159,400 Active 114 DOM
15. 2026-02-21
    price $159,400 853-char remark

    Show marketing remark (853 chars)

    Welcome to 165 Folger Street in the heart of South Buffalo! This charming single-family home offers 3 bedrooms, 1 full bath, and solid mechanics throughout. Enjoy a traditional layout featuring a spacious living room and formal dining room, perfect for everyday living and entertaining. The home also includes a full basement and full attic, providing ample storage or potential for additional use. Outside, you’ll find a fully fenced backyard complete with a storage shed, ideal for gardening, hobbies, or extra space. Perfect for owner occupancy or investors, this property is conveniently located near public transportation, shopping, restaurants, parks, and much more. A great opportunity to own in a desirable South Buffalo neighborhood! Seller will provide the existing survey with an affidavit of no change and a 40-year search on the note.

16. 2026-02-06
    listed $159,900 Active 853-char remark

    Show marketing remark (853 chars)

    Welcome to 165 Folger Street in the heart of South Buffalo! This charming single-family home offers 3 bedrooms, 1 full bath, and solid mechanics throughout. Enjoy a traditional layout featuring a spacious living room and formal dining room, perfect for everyday living and entertaining. The home also includes a full basement and full attic, providing ample storage or potential for additional use. Outside, you’ll find a fully fenced backyard complete with a storage shed, ideal for gardening, hobbies, or extra space. Perfect for owner occupancy or investors, this property is conveniently located near public transportation, shopping, restaurants, parks, and much more. A great opportunity to own in a desirable South Buffalo neighborhood! Seller will provide the existing survey with an affidavit of no change and a 40-year search on the note.

17. 2026-02-06
    historical

    Show marketing remark (853 chars)

    Welcome to 165 Folger Street in the heart of South Buffalo! This charming single-family home offers 3 bedrooms, 1 full bath, and solid mechanics throughout. Enjoy a traditional layout featuring a spacious living room and formal dining room, perfect for everyday living and entertaining. The home also includes a full basement and full attic, providing ample storage or potential for additional use. Outside, you’ll find a fully fenced backyard complete with a storage shed, ideal for gardening, hobbies, or extra space. Perfect for owner occupancy or investors, this property is conveniently located near public transportation, shopping, restaurants, parks, and much more. A great opportunity to own in a desirable South Buffalo neighborhood! Seller will provide the existing survey with an affidavit of no change and a 40-year search on the note.

18. 2025-11-28
    listed $159,900 Active
19. 2001-05-25
    soldstatus $47,000

ⓘ 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: $448 · $37/mo
• Projected year-2 tax: $1,571 · $131/mo
• Expected delta: +$1,123/yr (+$94/mo · 250.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 73% 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: $16,953
• − Mortgage interest: −$8,929
• − Property taxes: −$448
• − Insurance: −$797
• − Repairs & maintenance: −$1,356
• − Management: −$1,356
• − Depreciation: −$4,637
• Taxable loss: −$571
• Est. tax savings @ 24.0%: +$137
• After-tax cash flow: $2,254/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): 24,428
• Household income: $70,963
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 602.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 6% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 10% Cuban 1%
• Common ancestry: Romanian 16% Lithuanian 1% Subsaharan African 1%
• Foreign-born: 4% · Canada, Jamaica, China
• Languages at home: 90% English-only · 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: ▼ -146.29%
• Current HPI: 402.5053
• Rent YoY: ▲ 7.62%
• 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

+239.1% since first listed

5 events — show timeline

• 2026-02-21 Price Changed $159,400 WNYREIS
• 2026-02-06 Listing Removed — WNYREIS
• 2026-02-06 Listed $159,900 WNYREIS
• 2025-11-28 Listed $159,900 WNYREIS
• 2001-05-25 Sold (Public Records) $47,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $448 · +0.0% YoY. Source: county tax records.