268 Sumner Pl · Buffalo, NY 14211

$154,400

4 bd · 2.0 ba · 1,772 sqft · MultiFamily public records · 146 Days on market

Built 1920 3,450 sqft lot $87/sqft · 33% below area Est $229k · 33% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Appreciation +6.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

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

Introducing 268 Sumner Pl, a well-kept 2/2 double in the City of Buffalo—perfect for owner-occupancy or investors seeking a strong addition to their portfolio. This multi-unit property features two spacious 2-bedroom, 1-bath units, each offering comfortable layouts and solid rental appeal. The upper unit is currently vacant, providing an excellent opportunity for an owner-occupant or for setting new rental terms. The lower unit is rented at $875/month, offering immediate income. The home includes a full attic and full basement, along with solid mechanics, ensuring long-term stability and added storage space. Conveniently located near shopping, bus lines, public transportation, and many local amenities, this property combines accessibility with investment potential. Don’t miss your chance to secure a versatile, income-producing property in a growing area! Seller will provide the existing survey with an affidavit of no change and a 40-year search on the note.

Key facts

• Solid mechanics
• Full basement
• Multi-unit property

Tags

• MULTI-UNIT PROPERTY
• FULL ATTIC
• FULL BASEMENT
• SOLID MECHANICS
• CONVENIENTLY LOCATED

🏷️ Possibly a rental listed for sale. The $154,400 price doesn't fit this home's estimated sale value (~$228,965) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $154k.

Deal economics

• At list price, monthly cash flow is $733 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $154k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• 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.
• Zoned schools: International School (math 8% / reading 17%, grade F, #2,048 of 2,108 statewide, top 97%, 981 students, 92% FRL); Hutchinson Central Technical High School (math 96% / reading 32%, grade B-, #807 of 1,100 statewide, top 73%, 1,175 students, 78% FRL).
• Market conditions: 173 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $2,279/mo this rent would consume 75% 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 ($1k loan paydown + $3k appreciation (2.0% local appreciation)).
• At projected returns (2.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, 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 146 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 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 $22k; list at $154k implies a 605% 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 $135,872 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.48% ✓
• Cap rate: 11.99%
• Cash-on-cash: 20.36%
• DSCR: 1.91
• GRM: 5.6

CMA / ARV

• ARV (median comp): $228,965
• List price: $154,400
• Delta: -32.57%
• 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
262 Sumner Pl	0.01mi	4/2.0	1,660 (-6%)	11mo	$72,000	$43	80
60 Sattler Ave	0.33mi	4/2.0	1,746 (-2%)	6mo	$94,500	$54	77
221 May St	0.31mi	5/2.0 (+1)	1,794 (+1%)	8mo	$91,000	$51	72
19 Moeller St	0.12mi	4/2.0	1,920 (+8%)	10mo	$152,000	$79	72
21 Antwerp St	0.16mi	4/2.0	1,920 (+8%)	10mo	$130,000	$68	70
173 Briscoe Ave	0.50mi	4/2.0	1,832 (+3%)	6mo	$270,000	$147	66
65 Goembel Ave	0.28mi	5/2.0 (+1)	1,910 (+8%)	8mo	$110,000	$58	63
124 Newburgh Ave	0.66mi	4/2.0	1,750 (-1%)	7mo	$95,000	$54	62
141 Moselle St	0.63mi	5/2.0 (+1)	1,730 (-2%)	8mo	$30,000	$17	55
89 Poplar Ave	0.39mi	5/2.0 (+1)	2,006 (+13%)	10mo	$250,000	$125	47
109 Newburgh Ave	0.63mi	4/2.0	1,970 (+11%)	7mo	$140,000	$71	46
86 Shepard St	0.70mi	5/2.0 (+1)	2,024 (+14%)	2mo	$165,000	$82	37

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: 24.7%
• Equity multiple: 2.34×
• Total profit: $57,716
• Equity at exit: $61,310

10-year hold

• IRR: 26.4%
• Equity multiple: 4.47×
• Total profit: $149,943
• Equity at exit: $88,605

Cash invested: $43,232 (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: 11.3×

Monthly cashflow live

• Estimated rent: $2,279 high
• Mortgage (P&I): −$810
• Tax est. 1.5%: −$193 /mo · $2,316/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $733

Break-even live

Break-even rent $1,351

Max offer price $154,400

Occupancy floor 63%

Sensitivity live

Price	-10% $840	-5% $787	+0% $733	+5% $680	+10% $627
Rent	-10% $553	-5% $643	+0% $733	+5% $823	+10% $913
Rate	-1.0pp $811	-0.5pp $773	base $733	+0.5pp $693	+1.0pp $653

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,280
Total (2 units)			$2,279

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: $38,600
• Closing costs: $4,632
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
96 Academy Rd Buffalo, NY	3.0	1.0	2247	$1,400	$0.62	25d	1	0.30mi
517 Goodyear Ave Buffalo, NY	3.0	1.0	1559	$1,800	$1.15	20d	1	0.52mi
979 Walden Ave Buffalo, NY	4.0	3.0	1793	$2,000	$1.12	3d	1	0.65mi
65 Domedion Ave Buffalo, NY	3.0	1.0	1632	$1,500	$0.92	3d	1	0.70mi
1777 Broadway Unit 2 Buffalo, NY	3.0	1.0	1300	$1,200	$0.92	45d	1	0.82mi
1202 Walden Ave Unit 3 Buffalo, NY	3.0	1.0	1500	$1,400	$0.93	18d	1	1.05mi
79 Walden Ave Buffalo, NY	3.0	1.0	2528	$1,250	$0.49	45d	1	1.15mi

Listing history 9 events

1. 2026-05-04
   status Pending 988-char remark

   Show marketing remark (988 chars)

   Introducing 268 Sumner Pl, a well-kept 2/2 double in the City of Buffalo—perfect for owner-occupancy or investors seeking a strong addition to their portfolio. This multi-unit property features two spacious 2-bedroom, 1-bath units, each offering comfortable layouts and solid rental appeal. The upper unit is currently vacant, providing an excellent opportunity for an owner-occupant or for setting new rental terms. The lower unit is rented at $875/month, offering immediate income. The home includes a full attic and full basement, along with solid mechanics, ensuring long-term stability and added storage space. Conveniently located near shopping, bus lines, public transportation, and many local amenities, this property combines accessibility with investment potential. Don’t miss your chance to secure a versatile, income-producing property in a growing area! Seller will provide the existing survey with an affidavit of no change and a 40-year search on the note.

2. 2026-04-16
   price $154,400 988-char remark

   Show marketing remark (988 chars)

   Introducing 268 Sumner Pl, a well-kept 2/2 double in the City of Buffalo—perfect for owner-occupancy or investors seeking a strong addition to their portfolio. This multi-unit property features two spacious 2-bedroom, 1-bath units, each offering comfortable layouts and solid rental appeal. The upper unit is currently vacant, providing an excellent opportunity for an owner-occupant or for setting new rental terms. The lower unit is rented at $875/month, offering immediate income. The home includes a full attic and full basement, along with solid mechanics, ensuring long-term stability and added storage space. Conveniently located near shopping, bus lines, public transportation, and many local amenities, this property combines accessibility with investment potential. Don’t miss your chance to secure a versatile, income-producing property in a growing area! Seller will provide the existing survey with an affidavit of no change and a 40-year search on the note.

3. 2026-03-13
   status Active 988-char remark

   Show marketing remark (988 chars)

   Introducing 268 Sumner Pl, a well-kept 2/2 double in the City of Buffalo—perfect for owner-occupancy or investors seeking a strong addition to their portfolio. This multi-unit property features two spacious 2-bedroom, 1-bath units, each offering comfortable layouts and solid rental appeal. The upper unit is currently vacant, providing an excellent opportunity for an owner-occupant or for setting new rental terms. The lower unit is rented at $875/month, offering immediate income. The home includes a full attic and full basement, along with solid mechanics, ensuring long-term stability and added storage space. Conveniently located near shopping, bus lines, public transportation, and many local amenities, this property combines accessibility with investment potential. Don’t miss your chance to secure a versatile, income-producing property in a growing area! Seller will provide the existing survey with an affidavit of no change and a 40-year search on the note.

4. 2026-03-09
   historical Active Under Contract 988-char remark

   Show marketing remark (988 chars)

   Introducing 268 Sumner Pl, a well-kept 2/2 double in the City of Buffalo—perfect for owner-occupancy or investors seeking a strong addition to their portfolio. This multi-unit property features two spacious 2-bedroom, 1-bath units, each offering comfortable layouts and solid rental appeal. The upper unit is currently vacant, providing an excellent opportunity for an owner-occupant or for setting new rental terms. The lower unit is rented at $875/month, offering immediate income. The home includes a full attic and full basement, along with solid mechanics, ensuring long-term stability and added storage space. Conveniently located near shopping, bus lines, public transportation, and many local amenities, this property combines accessibility with investment potential. Don’t miss your chance to secure a versatile, income-producing property in a growing area! Seller will provide the existing survey with an affidavit of no change and a 40-year search on the note.

5. 2026-01-03
   price $154,900 988-char remark

   Show marketing remark (988 chars)

   Introducing 268 Sumner Pl, a well-kept 2/2 double in the City of Buffalo—perfect for owner-occupancy or investors seeking a strong addition to their portfolio. This multi-unit property features two spacious 2-bedroom, 1-bath units, each offering comfortable layouts and solid rental appeal. The upper unit is currently vacant, providing an excellent opportunity for an owner-occupant or for setting new rental terms. The lower unit is rented at $875/month, offering immediate income. The home includes a full attic and full basement, along with solid mechanics, ensuring long-term stability and added storage space. Conveniently located near shopping, bus lines, public transportation, and many local amenities, this property combines accessibility with investment potential. Don’t miss your chance to secure a versatile, income-producing property in a growing area! Seller will provide the existing survey with an affidavit of no change and a 40-year search on the note.

6. 2025-12-09
   listed $159,900 Active 988-char remark

   Show marketing remark (988 chars)

   Introducing 268 Sumner Pl, a well-kept 2/2 double in the City of Buffalo—perfect for owner-occupancy or investors seeking a strong addition to their portfolio. This multi-unit property features two spacious 2-bedroom, 1-bath units, each offering comfortable layouts and solid rental appeal. The upper unit is currently vacant, providing an excellent opportunity for an owner-occupant or for setting new rental terms. The lower unit is rented at $875/month, offering immediate income. The home includes a full attic and full basement, along with solid mechanics, ensuring long-term stability and added storage space. Conveniently located near shopping, bus lines, public transportation, and many local amenities, this property combines accessibility with investment potential. Don’t miss your chance to secure a versatile, income-producing property in a growing area! Seller will provide the existing survey with an affidavit of no change and a 40-year search on the note.

7. 2025-02-08
   historical $900
8. 2024-12-21
   listed $900
9. 2007-08-27
   soldstatus $21,900

ⓘ 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: $27,348
• − Mortgage interest: −$8,649
• − Property taxes: −$2,316
• − Insurance: −$772
• − Repairs & maintenance: −$2,188
• − Management: −$2,188
• − Depreciation: −$4,492
• Taxable income: $6,744
• Est. tax owed @ 24.0%: −$1,619
• After-tax cash flow: $7,182/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

+605.0% since first listed

9 events — show timeline

• 2026-05-04 Pending — WNYREIS
• 2026-04-16 Price Changed $154,400 WNYREIS
• 2026-03-13 Relisted — WNYREIS
• 2026-03-09 Contingent — WNYREIS
• 2026-01-03 Price Changed $154,900 WNYREIS
• 2025-12-09 Listed $159,900 WNYREIS
• 2025-02-08 Rental Removed $900 PROPERTYWARE
• 2024-12-21 Listed for Rent $900 PROPERTYWARE
• 2007-08-27 Sold (Public Records) $21,900 Public Records

Property tax history

+1.7%/yr

Latest (2025): $191 · +0.0% YoY. Source: county tax records.