18 Victoria Ave · Buffalo, NY 14214

$219,900

3 bd · 2.0 ba · 1,612 sqft · MultiFamily public records · 22 Days on market

Built 1920 5,175 sqft lot

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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 +26.6/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• 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 true gem! Live for practically FREE! Have you upstairs tenant pay for your living. Bring some elbow grease and paint and have instant sweat equity. You will be upset with yourself if you miss this one.

Key facts

• Multi family home
• Two family home
• 5,175 sq ft lot

Tags

• MULTI FAMILY HOME
• GATED ASPHALT DRIVEWAY
• MULTIPLE PRIVATE ENTRANCES
• TWO FAMILY HOME

Property features AI

Finance

• Financial info: Two-unit multifamily property with separate gas and electric meters (one of each); Operating expense details: see remarks

Exterior

• Parking: Paved parking
• Utilities: Public water connected; Sewer connected
• Home design: Single-story building; Resale property; Mixed exterior materials including brick, vinyl siding and wood siding
• Construction: Brick, vinyl and wood siding construction
• Exterior features: Rectangular residential lot near public transit; City street frontage; Lot dimensions approximately 45 x 115

Interior

• Kitchen: Eat-in kitchen in one unit; Formal dining room adjacent to kitchen in the other unit
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit
• Flooring: Hardwood; Tile; Vinyl; Varies
• Bathrooms: Two full bathrooms total (each unit has one full bath)
• Heating & cooling: Gas heating with forced air, hot water and zoned options noted; Zoned cooling
• Interior features: Hardwood, tile, vinyl and varied flooring throughout; Full basement; See remarks / other interior features
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $588 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $217k (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: Rents rising fast (+5.8%/yr); 90 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,668/mo this rent would consume 55% of the median local household income ($58k/yr) (locally 1820% 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.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $62k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $110k; list at $220k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $216,601 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — 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: 1.21% ✓
• Cap rate: 9.50%
• Cash-on-cash: 11.46%
• DSCR: 1.51
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $109,616
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18 Victoria Ave	0.00mi	3/2.0	1,612 (0%)	23mo	$110,000	$68	81
111 Marigold Ave	0.47mi	4/2.0 (+1)	1,663 (+3%)	14mo	$105,000	$63	56
2170 Main St	0.73mi	4/2.0 (+1)	1,816 (+13%)	15mo	$299,999	$165	27

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 · 5.81% rent growth · sell at horizon

5-year hold

• IRR: 3.9%
• Equity multiple: 1.16×
• Total profit: $9,615
• Equity at exit: $32,788

10-year hold

• IRR: 15.9%
• Equity multiple: 2.47×
• Total profit: $90,475
• Equity at exit: $19,013

Cash invested: $61,572 (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 14214

• Rents YoY: 5.8%
• Active inventory: 90
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $2,668 high
• Mortgage (P&I): −$1,153
• Tax est. 1.5%: −$275 /mo · $3,298/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $588

Break-even live

Break-even rent $1,924

Max offer price $219,900

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,392
1× unit	1	1	$1,276
Total (2 units)			$2,668

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
76 Vernon Pl Unit Upper Buffalo, NY	3.0	1.0	1190	$1,595	$1.34	14d	1	0.30mi
76 Vernon Pl Unit Lower Buffalo, NY	3.0	1.0	1190	$1,445	$1.21	14d	1	0.30mi
202 Summit Ave Unit 1 Buffalo, NY	3.0	1.0	2000	$2,400	$1.20	23d	1	0.53mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,291	$2.24	1d	10	0.83mi
25 Parkridge Ave Buffalo, NY	3.0	1.0	1914	$1,350	$0.71	14d	1	0.84mi
121 Humboldt Pkwy Unit B Buffalo, NY	2.0	1.0	1265	$1,750	$1.38	43d	1	0.92mi
117 Humboldt Pkwy Unit A Buffalo, NY	3.0	1.0	1105	$2,300	$2.08	43d	1	0.92mi
107 Humboldt Pkwy Unit A Buffalo, NY	2.0	1.0	1172	$1,995	$1.70	43d	1	0.93mi
2 Agassiz Cir Unit A Buffalo, NY	2.0	1.0	1076	$2,150	$2.00	23d	1	0.96mi
40 Lisbon Ave Unit Upper Buffalo, NY	2.0	1.0	1057	$1,500	$1.42	11d	1	1.03mi
163 Carmel Rd Buffalo, NY	3.0	1.0	1400	$1,800	$1.29	2d	1	1.12mi
263 Minnesota Ave Unit Upper Buffalo, NY	3.0	1.0	1242	$1,500	$1.21	14d	1	1.16mi
563 Humboldt Pkwy Buffalo, NY	3.0	1.0	2004	$1,200	$0.60	23d	1	1.17mi
222 Lisbon Ave Unit Upper Buffalo, NY	3.0	1.0	1400	$1,400	$1.00	43d	1	1.21mi
222 Lisbon Ave Buffalo, NY	4.0	1.0	1300	$1,400	$1.08	23d	1	1.21mi
265 Lisbon Ave Unit 2 Buffalo, NY	3.0	1.0	1200	$1,400	$1.17	43d	1	1.24mi
179 Donaldson Rd Buffalo, NY	3.0	1.0	1152	$1,350	$1.17	3d	1	1.26mi
27 Henley Rd Buffalo, NY	2.0	1.0	1200	$1,299	$1.08	14d	1	1.26mi
74 Dorris Ave Buffalo, NY	3.0	1.0	1200	$1,450	$1.21	43d	1	1.32mi
60 Englewood Ave Buffalo, NY	4.0	1.0	1400	$1,650	$1.18	1d	1	1.37mi
102 Florida St Buffalo, NY	3.0	1.0	1296	$1,650	$1.27	43d	1	1.38mi
184 Butler Ave Unit 1545840P Buffalo, NY	4.0	1.0	1496	$3,226	$2.16	14d	1	1.40mi
414 Taunton Pl Unit Lowet Buffalo, NY	3.0	1.0	1232	$1,700	$1.38	14d	1	1.41mi
307 Sterling Ave Buffalo, NY	3.0	1.0	1632	$1,800	$1.10	3d	1	1.41mi
79 Commonwealth Ave Buffalo, NY	3.0	1.0	1450	$1,600	$1.10	23d	1	1.41mi
73 Inter Park Ave Buffalo, NY	3.0	1.0	2080	$1,300	$0.62	14d	1	1.43mi
88 Commonwealth Ave Buffalo, NY	3.0	1.0	1355	$1,695	$1.25	19d	1	1.45mi
359 Colvin Ave Buffalo, NY	3.0	1.0	2010	$2,100	$1.04	23d	1	1.46mi
63 Montrose Ave Buffalo, NY	4.0	1.0	2240	$2,000	$0.89	1d	1	1.48mi
1786 Main St Unit 103 Buffalo, NY	2.0	1.5	1110	$1,677	$1.51	43d	1	1.49mi
1786 Main St Unit 104 Buffalo, NY	2.0	2.0	1256	$1,875	$1.49	43d	1	1.49mi

Listing history 19 events

1. 2026-06-18
   days on market $219,900 Active 22 DOM
2. 2026-06-17
   days on market $219,900 Active 21 DOM
3. 2026-06-16
   days on market $219,900 Active 20 DOM
4. 2026-06-15
   days on market $219,900 Active 19 DOM
5. 2026-06-13
   days on market $219,900 Active 17 DOM
6. 2026-06-13
   days on market $219,900 Active 16 DOM
7. 2026-06-10
   days on market $219,900 Active 14 DOM
8. 2026-06-09
   days on market $219,900 Active 13 DOM
9. 2026-06-08
   days on market $219,900 Active 12 DOM
10. 2026-06-07
    days on market $219,900 Active 11 DOM
11. 2026-06-03
    days on market $219,900 Active 7 DOM
12. 2026-06-02
    days on market $219,900 Active 6 DOM
13. 2026-06-01
    days on market $219,900 Active 5 DOM
14. 2026-05-31
    days on market $219,900 Active 4 DOM
15. 2026-05-27
    listed $219,900 Active
16. 2024-07-18
    soldstatus $110,000 Closed 211-char remark

    Show marketing remark (211 chars)

    This is a true gem! Live for practically FREE! Have you upstairs tenant pay for your living. Bring some elbow grease and paint and have instant sweat equity. You will be upset with yourself if you miss this one.

17. 2024-07-12
    soldstatus $110,000
18. 2024-05-22
    status Pending 211-char remark

    Show marketing remark (211 chars)

    This is a true gem! Live for practically FREE! Have you upstairs tenant pay for your living. Bring some elbow grease and paint and have instant sweat equity. You will be upset with yourself if you miss this one.

19. 2024-05-20
    listed $115,000 Active 211-char remark

    Show marketing remark (211 chars)

    This is a true gem! Live for practically FREE! Have you upstairs tenant pay for your living. Bring some elbow grease and paint and have instant sweat equity. You will be upset with yourself if you miss this one.

ⓘ 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: $32,016
• − Mortgage interest: −$12,318
• − Property taxes: −$3,298
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,561
• − Management: −$2,561
• − Depreciation: −$6,397
• Taxable income: $3,781
• Est. tax owed @ 24.0%: −$907
• After-tax cash flow: $6,149/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): 21,314
• Household income: $58,228
• Rent vs Own: 57.7% rent · 42.3% own
• Severe rent burden: 1820.0

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 0.67)
• Race & ethnicity: White 47% Black 31% Asian 11% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 5% Lithuanian 2% Scotch-Irish 1%
• Foreign-born: 14% · Canada, China
• Languages at home: 81% English-only · Other Indo-European 7% Spanish 4% 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: ▼ -282.52%
• Current HPI: 373.377
• Rent YoY: ▲ 5.81%
• 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

+91.2% since first listed

5 events — show timeline

• 2026-05-27 Listed $219,900 WNYREIS
• 2024-07-18 Sold (MLS) $110,000 WNYREIS
• 2024-07-12 Sold (Public Records) $110,000 Public Records
• 2024-05-22 Pending — WNYREIS
• 2024-05-20 Listed $115,000 WNYREIS

Property tax history

+12.1%/yr

Latest (2025): $419 · +33.6% YoY. Source: county tax records.