203 French St · Buffalo, NY 14211

$134,900

3 bd · 1.0 ba · 1,318 sqft · SingleFamily public records · 15 Days on market

Built 1930 4,140 sqft lot Est $142k · 5% 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 +21.8/30.0
• ARV discount +9.9/15.0
• DSCR +7.0/10.0
• Appreciation +6.0/10.0
• 1% rule +5.7/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to 203 French St! Owner occupied or investment, this is great to start or add to your portfolio. The house has been updated recently and updates include new flooring, new roof on the garage, freshly painted whole house etc. This house offers 3 bedroom & 1.5 bathroom. Layout on the first floor formal living room, formal dining room, 1 bedroom and 1 full bathroom and on the 2nd floor 2 bedroom and 1 half bathroom. This single-family house conveniently located closer to everything. Very low taxes! Don't miss this opportunity! Showing Starts immediately!

Key facts

• New flooring
• Freshly painted
• Very low taxes

Tags

• NEW FLOORING
• NEW ROOF
• FRESHLY PAINTED
• CONVENIENTLY LOCATED
• VERY LOW TAXES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.

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: 173 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $1,446/mo this rent would consume 48% of the median local household income ($36k/yr) (locally 1804% 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 $4k of equity ($933 loan paydown + $3k appreciation (2.0% local appreciation)).
• At projected returns (2.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 3 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 $58k; list at $135k implies a 135% 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 $132,876 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — 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: 1.07% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.67%
• DSCR: 1.30
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $142,344
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
855 Woodlawn Ave	0.25mi	4/2.0 (+1)	1,303 (-1%)	10mo	$116,500	$89	69
15 Stevens Ave	0.46mi	3/1.0	1,315 (-0%)	11mo	$175,000	$133	69
337 French St	0.26mi	3/2.0	1,264 (-4%)	11mo	$90,000	$71	68
1052 E Ferry St Unit N	0.44mi	3/2.0	1,328 (+1%)	16mo	$75,000	$56	60
892 Northland Ave	0.67mi	3/1.0	1,296 (-2%)	11mo	$200,000	$154	57
935 Northland Ave	0.68mi	3/1.0	1,340 (+2%)	14mo	$210,000	$157	54
102 Carl St	0.52mi	3/1.0	1,158 (-12%)	2mo	$124,900	$108	53
59 Schuele Ave Ave	0.49mi	4/1.0 (+1)	1,362 (+3%)	21mo	$130,000	$95	50
67 Montana Ave	0.58mi	3/1.0	1,182 (-10%)	9mo	$68,000	$58	48
31 Walden Ave	0.50mi	4/2.0 (+1)	1,420 (+8%)	11mo	$31,000	$22	46
849 Woodlawn Ave	0.26mi	3/3.0	1,124 (-15%)	14mo	$168,800	$150	44
21 Stevens Ave	0.46mi	3/1.5	1,125 (-15%)	15mo	$160,000	$142	40

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

Projected returns pro-forma

2.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.2%
• Equity multiple: 1.61×
• Total profit: $22,990
• Equity at exit: $53,567

10-year hold

• IRR: 14.1%
• Equity multiple: 2.90×
• Total profit: $71,761
• Equity at exit: $77,414

Cash invested: $37,772 (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 14211

• Home prices YoY: 0.6%
• Active inventory: 173
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,446 high
• Mortgage (P&I): −$707
• Tax est. 1.5%: −$169 /mo · $2,024/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $210

Break-even live

Break-even rent $1,180

Max offer price $134,900

Occupancy floor 80%

Sensitivity live

Price	-10% $303	-5% $257	+0% $210	+5% $163	+10% $117
Rent	-10% $96	-5% $153	+0% $210	+5% $267	+10% $324
Rate	-1.0pp $278	-0.5pp $244	base $210	+0.5pp $175	+1.0pp $140

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
408 Winslow Ave Unit 2 Buffalo, NY	3.0	1.0	1000	$1,050	$1.05	15d	1	0.41mi
517 Goodyear Ave Buffalo, NY	3.0	1.0	1559	$1,800	$1.15	20d	1	0.45mi
184 Butler Ave Unit 1545840P Buffalo, NY	4.0	1.0	1496	$3,226	$2.16	15d	1	0.85mi
179 Donaldson Rd Buffalo, NY	3.0	1.0	1152	$1,350	$1.17	4d	1	0.96mi
104 Butler Ave Buffalo, NY	3.0	1.0	1000	$1,400	$1.40	45d	1	0.98mi
67 Moeller St Unit UPPER Buffalo, NY	3.0	1.0	960	$1,000	$1.04	4d	1	1.01mi
67 Moeller St Unit LOWER Buffalo, NY	3.0	1.0	960	$1,200	$1.25	25d	1	1.01mi
85 Blake St Unit 1 Buffalo, NY	4.0	2.0	1022	$1,000	$0.98	45d	1	1.12mi
90 Sussex St Unit 2 Buffalo, NY	2.0	1.0	1000	$1,000	$1.00	45d	1	1.23mi
216 Newburgh Ave Buffalo, NY	2.0	1.0	1690	$1,150	$0.68	25d	1	1.34mi
74 Dorris Ave Buffalo, NY	3.0	1.0	1200	$1,450	$1.21	45d	1	1.38mi
249 Newburgh Ave Unit 2 Buffalo, NY	2.0	1.0	930	$1,300	$1.40	45d	1	1.39mi
1777 Broadway Unit 2 Buffalo, NY	3.0	1.0	1300	$1,200	$0.92	45d	1	1.42mi
102 Florida St Buffalo, NY	3.0	1.0	1296	$1,650	$1.27	45d	1	1.43mi
76 Chester St Unit 1 Buffalo, NY	3.0	1.0	1100	$1,000	$0.91	15d	1	1.44mi
71 Gerald Ave Buffalo, NY	2.0	1.0	1773	$1,100	$0.62	45d	1	1.45mi
17 Proctor Ave Unit 1 Buffalo, NY	2.0	1.0	900	$1,100	$1.22	45d	1	1.46mi
61 Courtland Ave Unit Lower Buffalo, NY	2.0	1.0	1000	$1,300	$1.30	45d	1	1.46mi

Listing history 7 events

1. 2026-04-21
   status Pending
2. 2026-04-06
   listed $134,900 Active
3. 2025-09-29
   status Active
4. 2025-09-29
   price $139,900
5. 2025-07-15
   historical Active Under Contract
6. 2025-03-18
   listed $124,900 Active
7. 2025-01-14
   soldstatus $57,500

ⓘ 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 ≥93°F today · 14 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: $17,352
• − Mortgage interest: −$7,556
• − Property taxes: −$2,024
• − Insurance: −$674
• − Repairs & maintenance: −$1,388
• − Management: −$1,388
• − Depreciation: −$3,924
• Taxable income: $397
• Est. tax owed @ 24.0%: −$95
• After-tax cash flow: $2,426/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): 24,663
• Household income: $36,300
• Rent vs Own: 54.8% rent · 45.2% own
• Severe rent burden: 1804.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Black 59% Asian 20% Hispanic / Latino 9% White 9% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 4%
• Foreign-born: 17% · Canada, Philippines, Vietnam
• Languages at home: 74% English-only · Other Indo-European 14% Spanish 6% Other Asian/Pacific 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: ▲ 2.05%
• Current HPI: 357.6438
• Rent YoY: —
• 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

+134.6% since first listed

7 events — show timeline

• 2026-04-21 Pending — WNYREIS
• 2026-04-06 Listed $134,900 WNYREIS
• 2025-09-29 Relisted — WNYREIS
• 2025-09-29 Price Changed $139,900 WNYREIS
• 2025-07-15 Contingent — WNYREIS
• 2025-03-18 Listed $124,900 WNYREIS
• 2025-01-14 Sold (Public Records) $57,500 Public Records

Property tax history

+7.3%/yr

Latest (2025): $179 · +0.0% YoY. Source: county tax records.