304 Northland Ave · Buffalo, NY 14208

$259,900

6 bd · 2.0 ba · 2,288 sqft · MultiFamily public records · 11 Days on market

Built 1900 3,900 sqft lot Est $178k · 46% 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Welcome to 304 Northland Avenue! This amazing property sold on the first day of listing; it's now "Back On The Market" due to the buyer's financial status changing. This home has been in the same family for over 71 years, it features very good bones and old vintage charm. Some updates includes: New Circuit Breakers(2025), New Furnace(Upper 2025), New Light Fixtures(2025) and Newer Roof(2019). The original Hardwood Floors are throughout the entire house. This home will need some repairs to the downstairs bathroom and kitchen. There is a half bath in the basement- not working, but could be updated. Being "SOLD-AS-IS. " The owner is not able to do any repairs as a result of a Home Inspection or Appraisal.

Key facts

• Newer furnaces
• Full basement
• Full attic

Tags

• EXTENSIVELY RENOVATED
• FULLY RENOVATED BATHROOMS
• FULL BASEMENT
• FULL ATTIC
• COMPLETE TEAR OFF ROOF
• NEWER FURNACES

Property features AI

Finance

• Financial info: Two-unit property with separate gas and electric meters for each unit; Operating expense details: see remarks; Owner pays: see remarks; Rent includes: see remarks

Exterior

• Parking: One parking space
• Utilities: Public water connected; Sewer connected
• Home design: Two-story multi-family building; Existing construction
• Construction: Aluminum siding; Asphalt roof; Stone foundation; PEX plumbing
• Exterior features: Balcony; Porch listed for one unit; Near public transit; Rectangular residential lot with city street frontage

Interior

• Kitchen: One unit lists dishwasher and refrigerator among features
• Bedrooms: Two separate 3-bedroom units (each unit has 3 bedrooms)
• Flooring: Ceramic tile, tile, vinyl, and varied flooring
• Bathrooms: Each unit has one full bathroom (two full bathrooms total)
• Heating & cooling: Central air conditioning; Gas heating with forced air and hot water components (see remarks)
• Interior features: Ceramic tile and vinyl flooring; some areas vary; Other interior features (see remarks)
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $260k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $615/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Cap rate 12.0% vs local median 8.0% in Buffalo — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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: 54 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,492/mo this rent would consume 86% of the median local household income ($48k/yr) (locally 723% 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $73k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $121k; list at $260k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $259,900

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 1900 — 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: 1.34% ✓
• Cap rate: 11.97%
• Cash-on-cash: 20.28%
• DSCR: 1.90
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $178,464
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
304 Northland Ave	0.00mi	6/2.0	2,288 (0%)	4mo	$121,000	$53	96
26 Pleasant Pl	0.12mi	6/2.0	2,346 (+2%)	3mo	$162,000	$69	88
169 Florida St	0.21mi	6/2.0	2,138 (-7%)	3mo	$258,000	$121	77
48 Oakgrove Ave	0.28mi	6/2.0	2,200 (-4%)	7mo	$318,000	$145	74
622 Woodlawn Ave	0.51mi	6/2.0	2,288 (0%)	3mo	$177,500	$78	73
192 Goulding Ave	0.32mi	6/2.0	2,476 (+8%)	2mo	$220,000	$89	70
502 Glenwood Ave	0.49mi	5/2.0 (-1)	2,294 (+0%)	7mo	$20,500	$9	66
73 Monticello Pl	0.52mi	6/2.0	2,424 (+6%)	3mo	$160,000	$66	63
56 Eastwood Pl	0.48mi	6/2.0	2,487 (+9%)	4mo	$250,000	$101	60
497-499 Riley St	0.71mi	6/2.0	2,380 (+4%)	2mo	$105,900	$44	59
159 Purdy St	0.52mi	6/2.0	2,080 (-9%)	6mo	$212,500	$102	56
84 Monticello Pl	0.55mi	6/2.0	2,591 (+13%)	0mo	$145,000	$56	52

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.5%
• Equity multiple: 1.50×
• Total profit: $36,091
• Equity at exit: $38,752

10-year hold

• IRR: 21.4%
• Equity multiple: 2.81×
• Total profit: $131,821
• Equity at exit: $22,471

Cash invested: $72,772 (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 14208

• Home prices YoY: -3.4%
• Active inventory: 54
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $3,492 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$58 /mo · $693/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$733
• Net cashflow: $1,230

Break-even live

Break-even rent $1,935

Max offer price $259,900

Occupancy floor 60%

Sensitivity live

Price	-10% $1,377	-5% $1,303	+0% $1,230	+5% $1,156	+10% $1,083
Rent	-10% $954	-5% $1,092	+0% $1,230	+5% $1,368	+10% $1,506
Rate	-1.0pp $1,361	-0.5pp $1,296	base $1,230	+0.5pp $1,162	+1.0pp $1,094

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,492
Total (2 units)			$3,492

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15 Hughes Ave Buffalo, NY	7.0	2.0	1650	$3,000	$1.82	44d	1	0.43mi
518 Wilson St Buffalo, NY	5.0	1.5	1848	$1,500	$0.81	24d	1	1.43mi

Listing history 9 events

1. 2026-06-16
   statusdays on market $259,900 Pending 11 DOM
2. 2026-06-15
   days on market $259,900 Active 10 DOM
3. 2026-06-13
   days on market $259,900 Active 8 DOM
4. 2026-06-13
   days on market $259,900 Active 7 DOM
5. 2026-06-10
   days on market $259,900 Active 5 DOM
6. 2026-06-09
   days on market $259,900 Active 4 DOM
7. 2026-06-08
   days on market $259,900 Active 3 DOM
8. 2026-06-07
   remarks 699-char remark
9. 2026-06-07
   listed $259,900 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: $693 · $58/mo
• Projected year-2 tax: $2,543 · $212/mo
• Expected delta: +$1,849/yr (+$154/mo · 266.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% 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: $41,904
• − Mortgage interest: −$14,558
• − Property taxes: −$693
• − Insurance: −$1,300
• − Repairs & maintenance: −$3,352
• − Management: −$3,352
• − Depreciation: −$7,561
• Taxable income: $11,087
• Est. tax owed @ 24.0%: −$2,661
• After-tax cash flow: $12,095/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): 12,572
• Household income: $48,476
• Rent vs Own: 46.2% rent · 53.8% own
• Severe rent burden: 723.0

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 (72%)
• Race & ethnicity: Black 72% White 15% Asian 6% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 2% Italian 1% Hispanic 0%
• Foreign-born: 7% · Canada, South Korea, Philippines
• Languages at home: 89% English-only · Other Indo-European 3% Spanish 2% French/Haitian/Cajun 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: ▼ -16.37%
• Current HPI: 459.2084
• 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

+73.3% since first listed

8 events — show timeline

• 2026-06-05 Listed $259,900 WNYREIS
• 2026-02-12 Sold (MLS) $121,000 WNYREIS
• 2026-02-10 Sold (Public Records) $125,000 Public Records
• 2026-01-07 Pending — WNYREIS
• 2026-01-02 Price Changed $135,000 WNYREIS
• 2025-12-13 Relisted — WNYREIS
• 2025-09-05 Pending — WNYREIS
• 2025-09-05 Listed $150,000 WNYREIS

Property tax history

+13.6%/yr

Latest (2025): $693 · +84.7% YoY. Source: county tax records.