77 Oakmont Ave · Buffalo, NY 14215

$229,900

5 bd · 2.0 ba · 1,968 sqft · MultiFamily public records · 16 Days on market

Built 1947 4,618 sqft lot Est $179k · 28% over

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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 +27.4/30.0
• DSCR +9.6/10.0
• 1% rule +6.1/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

This is a must see! Spacious 2 family home on a large corner lot with detached 2 car garage. Large first floor apartment with living room/ dining room combination. 3 large bedrooms, master bedroom has sliding glass doors to the patio. Second floor features a large living room and 2 bedrooms. Tenant are currently on month-to-month leases. Convenient location close to the 33 Expressway and walking distance to shopping on Bailey Avenue.

Key facts

• Updated electrical
• Sliding glass doors
• Full basement

Tags

• CORNER LOT
• FULL BASEMENT
• UPDATED ELECTRICAL
• NEW CABINETRY
• BREAKFAST BAR
• SLIDING GLASS DOORS

Property features AI

Finance

• Other: Owner pays grounds care and water; rent includes gardener and water
• Financial info: Property is a 2-unit building; Both units are month-to-month; Unit 1 (2 beds, 1 bath) currently rents for $1,000; Unit 2 (3 beds, 1 bath) currently rents for $1,175; Operating expenses include maintenance (structure and general) and water

Exterior

• Parking: 2-car garage; Concrete parking; On-street parking available
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Resale property; Vinyl siding exterior
• Construction: Vinyl siding construction
• Exterior features: Rectangular residential lot with city street frontage; Lot dimensions approximately 36 x 125

Interior

• Kitchen: Gas water heater (utility for kitchens)
• Bedrooms: One unit with 2 bedrooms; One unit with 3 bedrooms
• Flooring: Hardwood and varied flooring
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood and varying flooring throughout; Full basement
• Laundry & utility: Separate gas meters for each unit; Separate electric meters for each unit

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $230k.

Deal economics

• At list price, monthly cash flow is $675 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Recommended offer: $226k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 8.0% in Buffalo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 flat; 239 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 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 $2,557/mo this rent would consume 68% 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 $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $150k; list at $230k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $226,451 (1.5% below list)

Questions for the listing agent

1. Built in 1947 — 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 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: 1.11% ✓
• Cap rate: 9.82%
• Cash-on-cash: 12.59%
• DSCR: 1.56
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $179,088
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14 Phyllis Ave	0.29mi	6/2.0 (+1)	1,987 (+1%)	4mo	$227,500	$114	76
358 Newburgh Ave	0.54mi	5/2.0	1,959 (-0%)	2mo	$165,000	$84	72
73 Easton Ave	0.33mi	4/2.0 (-1)	1,950 (-1%)	8mo	$206,000	$106	71
35 Erskine Ave	0.24mi	4/2.0 (-1)	2,135 (+8%)	4mo	$170,000	$80	66
18 Phyllis Ave	0.29mi	5/2.0	2,134 (+8%)	8mo	$138,000	$65	66
131 Arden Ave	0.45mi	4/2.0 (-1)	2,099 (+7%)	7mo	$190,000	$91	57
144 Ivanhoe Rd	0.74mi	5/2.0	2,030 (+3%)	6mo	$210,000	$103	55
208 Davidson Ave	0.45mi	5/2.0	2,199 (+12%)	8mo	$170,000	$77	53
17 Proctor Ave	0.40mi	4/2.0 (-1)	1,756 (-11%)	8mo	$175,000	$100	52
274 Newburgh Ave	0.69mi	5/2.0	1,754 (-11%)	4mo	$185,000	$105	47
66 Kermit Ave	0.60mi	6/2.0 (+1)	2,142 (+9%)	7mo	$75,000	$35	46
440 Cornwall Ave	0.69mi	6/2.0 (+1)	2,200 (+12%)	6mo	$131,000	$60	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: -0.1%
• Equity multiple: 1.00×
• Total profit: $-224
• Equity at exit: $34,279

10-year hold

• IRR: 7.2%
• Equity multiple: 1.49×
• Total profit: $31,779
• Equity at exit: $19,878

Cash invested: $64,372 (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 14215

• Home prices YoY: -30.0%
• Rents YoY: 0.7%
• Active inventory: 239
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $2,557 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$43 /mo · $522/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$537
• Net cashflow: $675

Break-even live

Break-even rent $1,702

Max offer price $229,900

Occupancy floor 69%

Sensitivity live

Price	-10% $805	-5% $740	+0% $675	+5% $610	+10% $545
Rent	-10% $473	-5% $574	+0% $675	+5% $776	+10% $877
Rate	-1.0pp $791	-0.5pp $734	base $675	+0.5pp $616	+1.0pp $555

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

Units	Beds	Baths	Est. rent
1× unit	3	1.5	$1,326
1× unit	2	1.5	$1,231
Total (2 units)			$2,557

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
222 Lisbon Ave Buffalo, NY	4.0	1.0	1300	$1,400	$1.08	24d	1	1.19mi
175 Lisbon Ave Buffalo, NY	5.0	2.0	2000	$2,500	$1.25	15d	1	1.21mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,997	$2.93	2d	10	1.26mi
85 Highgate Ave Buffalo, NY	5.0	2.0	2193	$3,750	$1.71	15d	1	1.35mi
65 Northrup Pl Buffalo, NY	5.0	2.0	1467	$2,500	$1.70	15d	1	1.39mi

Listing history 12 events

1. 2026-06-21
   days on market $229,900 Active 16 DOM
2. 2026-06-18
   days on market $229,900 Active 13 DOM
3. 2026-06-17
   days on market $229,900 Active 12 DOM
4. 2026-06-16
   days on market $229,900 Active 11 DOM
5. 2026-06-15
   days on market $229,900 Active 10 DOM
6. 2026-06-13
   days on market $229,900 Active 8 DOM
7. 2026-06-13
   days on market $229,900 Active 7 DOM
8. 2026-06-10
   days on market $229,900 Active 5 DOM
9. 2026-06-09
   days on market $229,900 Active 4 DOM
10. 2026-06-08
    days on market $229,900 Active 3 DOM
11. 2026-06-07
    remarks 677-char remark
12. 2026-06-07
    listed $229,900 Active 2 DOM

ⓘ 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: $522 · $43/mo
• Projected year-2 tax: $2,204 · $184/mo
• Expected delta: +$1,682/yr (+$140/mo · 322.3%)

ⓘ 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) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°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: $30,684
• − Mortgage interest: −$12,878
• − Property taxes: −$522
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,455
• − Management: −$2,455
• − Depreciation: −$6,688
• Taxable income: $4,537
• Est. tax owed @ 24.0%: −$1,089
• After-tax cash flow: $7,013/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

+303.3% since first listed

6 events — show timeline

• 2026-06-04 Listed $229,900 WNYREIS
• 2022-03-23 Sold (MLS) $150,100 WNYREIS
• 2022-03-18 Sold (Public Records) $150,100 Public Records
• 2022-01-05 Pending — WNYREIS
• 2021-10-23 Listed $160,000 WNYREIS
• 2007-11-09 Sold (Public Records) $57,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $522 · +63.3% YoY. Source: county tax records.