767 West Ave · Buffalo, NY 14213

$474,900

9 bd · 3.9 ba · 3,938 sqft · MultiFamily public records · 20 Days on market

Built 1900 3,192 sqft lot

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Why this score? — see what drove the B- 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 +26.5/30.0
• DSCR +9.0/10.0
• Appreciation +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

LOW TAXES! $4250 RENT!!! * This property is in a low to moderate income CENSUS TRACK and may have special benefits * !! Gutted to the studs! Updates are overwhelming & is an understatement to the pride that the seller took in renovating this immaculate 4 unit w/ finished full attic. The beautiful contemporary stone façade intrigues you to want to take a look at what inside has to offer. The new porch and balcony leads the way to high quality cherry h/w flrs throughout including the stairways. Recessed lighting brightens every unit accentuating the beautiful marble kitchen counter tops in EVERY unit w/ beautiful solid kitchen units and back splash for a final touch. Brand new windows let in light into these thoughtfully laid out units making them very spacious and welcoming. FOUR brand new electrical panels and wiring throughout, brand new plumbing & drainage, FOUR brand new furnaces & FOUR brand new HWT's. Basement walls and floors have been refinished. New sump & glass block windows installed. A large concrete patio installed in the back yard as well as on the perimeter of one side of the house. Roof is 2 years old!

Key facts

• Finished attic space
• Modern finishes
• Updated kitchens

Tags

• MODERN FINISHES
• UPDATED KITCHENS
• FINISHED ATTIC SPACE
• TURNKEY BUILDING

Property features AI

Finance

• Financial info: Owner pays water; water included in rent; Operating expenses include water; Rental mix: four rental units with listed rents (examples: $1,200, $1,200, $1,200, $1,100); one unit noted as month-to-month

Exterior

• Parking: No driveway; on-street parking
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Resale property; Shingle roof; Vinyl siding
• Construction: Vinyl siding construction; Shingle roof; Built existing (year built details: existing)
• Exterior features: Rectangular residential lot with city street frontage; Lot dimensions approximately 26 x 123

Interior

• Kitchen: Eat-in kitchens in each unit
• Bedrooms: Four units: three 2-bedroom units and one 3-bedroom unit
• Flooring: Vinyl and varied flooring
• Bathrooms: Four full bathrooms (one per unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Attic; Varied and vinyl flooring; Full basement
• Laundry & utility: Gas water heater; Separate gas and electric meters for each unit (4 each)

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $475k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $418/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $475k).
• Recommended offer: $468k (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 soft (-0.5%/yr); 138 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $5,113/mo this rent would consume 114% of the median local household income ($54k/yr) (locally 1501% 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 $39k of equity ($3k loan paydown + $36k appreciation (7.5% local appreciation)).
• At projected returns (7.5% appreciation + 0.0% rent growth), your $133k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$62k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($468k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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.

Risks & watch-outs

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

Recommended offer $467,776 (1.5% below list)

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: 1.08% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.30%
• DSCR: 1.50
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $220,528
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
457 Plymouth Ave	0.23mi	9/4.0	3,730 (-5%)	19mo	$210,000	$56	64
941 Prospect Ave	0.16mi	10/4.0 (+1)	3,526 (-10%)	13mo	$410,000	$116	59
502 Fargo Ave	0.16mi	8/4.0 (-1)	3,645 (-7%)	24mo	$163,000	$45	55
761 Prospect Ave	0.31mi	8/3.0 (-1)	3,476 (-12%)	16mo	$160,000	$46	44
118 Congress St	0.69mi	9/3.0	3,382 (-14%)	20mo	$295,000	$87	24

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

Projected returns pro-forma

7.51% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 26.5%
• Equity multiple: 2.85×
• Total profit: $245,482
• Equity at exit: $345,145

10-year hold

• IRR: 23.0%
• Equity multiple: 5.70×
• Total profit: $624,957
• Equity at exit: $670,699

Cash invested: $132,972 (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 14213

• Home prices YoY: 1.7%
• Rents YoY: -0.5%
• Active inventory: 138
• Price-to-rent: 23.2×

Monthly cashflow live

• Estimated rent: $5,113 high
• Mortgage (P&I): −$2,490
• Tax from tax record: −$98 /mo · $1,182/yr
• Insurance: −$198
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,074
• Net cashflow: $1,253

Break-even live

Break-even rent $3,528

Max offer price $474,900

Occupancy floor 70%

Sensitivity live

Price	-10% $1,521	-5% $1,387	+0% $1,253	+5% $1,118	+10% $984
Rent	-10% $849	-5% $1,051	+0% $1,253	+5% $1,454	+10% $1,656
Rate	-1.0pp $1,492	-0.5pp $1,373	base $1,253	+0.5pp $1,129	+1.0pp $1,004

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$5,112
Total (3 units)			$5,113

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: $118,725
• Closing costs: $14,247
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-21
   days on market $474,900 Active 20 DOM
2. 2026-06-18
   days on market $474,900 Active 17 DOM
3. 2026-06-17
   days on market $474,900 Active 16 DOM
4. 2026-06-16
   days on market $474,900 Active 15 DOM
5. 2026-06-15
   days on market $474,900 Active 14 DOM
6. 2026-06-13
   days on market $474,900 Active 12 DOM
7. 2026-06-13
   days on market $474,900 Active 11 DOM
8. 2026-06-10
   days on market $474,900 Active 9 DOM
9. 2026-06-09
   days on market $474,900 Active 8 DOM
10. 2026-06-08
    days on market $474,900 Active 7 DOM
11. 2026-06-07
    days on market $474,900 Active 6 DOM
12. 2026-06-03
    days on market $474,900 Active 2 DOM
13. 2026-06-02
    remarks 593-char remark
14. 2026-06-02
    listed $474,900 Active 1 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: $1,182 · $98/mo
• Projected year-2 tax: $4,604 · $384/mo
• Expected delta: +$3,422/yr (+$285/mo · 289.6%)

ⓘ 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 ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $61,356
• − Mortgage interest: −$26,602
• − Property taxes: −$1,182
• − Insurance: −$2,374
• − Repairs & maintenance: −$4,908
• − Management: −$4,908
• − Depreciation: −$13,815
• Taxable income: $7,566
• Est. tax owed @ 24.0%: −$1,816
• After-tax cash flow: $13,214/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): 24,107
• Household income: $53,870
• Rent vs Own: 60.5% rent · 39.5% own
• Severe rent burden: 1501.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 46% Hispanic / Latino 20% Black 18% Asian 12% Two or more races 10%
• Hispanic origin (detail): Mexican 1% Puerto Rican 16% Dominican 1%
• Common ancestry: Romanian 6% Slovak 3% Lithuanian 3%
• Foreign-born: 16% · Philippines, Canada, India
• Languages at home: 68% English-only · Spanish 12% Other Asian/Pacific 7% Arabic 3%

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: ▲ 7.51%
• Current HPI: 448.4879
• Rent YoY: ▼ -0.49%
• 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

+1799.6% since first listed

13 events — show timeline

• 2026-06-01 Listed $474,900 WNYREIS
• 2025-06-12 Price Changed $475,000 WNYREIS
• 2025-04-10 Relisted — WNYREIS
• 2025-02-12 Pending — WNYREIS
• 2024-10-16 Listed $499,900 WNYREIS
• 2022-09-13 Sold (Public Records) $450,000 Public Records
• 2022-07-26 Sold (MLS) $450,000 WNYREIS
• 2022-05-26 Pending — WNYREIS
• 2022-05-25 Listing Removed — WNYREIS
• 2022-04-25 Listed $520,000 WNYREIS
• 2017-12-01 Sold (Public Records) $54,000 Public Records
• 2005-05-11 Sold (Public Records) $60,999 Public Records
• 2005-05-11 Sold (Public Records) $25,000 Public Records

Property tax history

+11.3%/yr

Latest (2025): $1,182 · -18.0% YoY. Source: county tax records.