322 Trenton Ave · Buffalo, NY 14201

$199,900

6 bd · 2.0 ba · 2,116 sqft · MultiFamily public records · 62 Days on market

Built 1887 3,100 sqft lot $94/sqft · 26% below area Est $269k · 26% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• 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

Welcome to 322 Trenton your next project steps from Downtown. 2100 Sqft+ 3/3 Double for under 55k. Come see it today.

Key facts

• Off street parking
• Fresh paint
• New flooring

Tags

• OFF STREET PARKING
• LOW MAINTENANCE EXTERIOR
• UPDATED WITH NEWER WINDOWS
• FRESH PAINT
• NEW FLOORING
• BIG KITCHEN

Property features AI

Finance

• Financial info: Owner pays trash collection; Trash collection included in rent; Operating expense details: see remarks

Exterior

• Parking: Two or more parking spaces
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: 2-story building; Existing condition
• Construction: Vinyl siding; Stone foundation
• Exterior features: Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas water heater
• Bedrooms: Two separate 3-bedroom units
• Flooring: Tile; Vinyl; Varied
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Walk-out basement access; Tile, varied, and vinyl flooring
• Laundry & utility: Separate gas meters for each unit; Separate electric meters for each unit

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $200k).
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.5% 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: Rents rising fast (+4.3%/yr); 56 active listings in the ZIP; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,699/mo this rent would consume 110% of the median local household income ($41k/yr) (locally 1213% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $56k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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 $55k; list at $200k implies a 263% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1887 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $187,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1887 — 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: 1.85% ✓
• Cap rate: 15.54%
• Cash-on-cash: 33.03%
• DSCR: 2.47
• GRM: 4.5

CMA / ARV

• ARV (median comp): $269,489
• List price: $199,900
• Delta: -25.82%
• 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
250 West Ave	0.43mi	6/2.0	2,230 (+5%)	4mo	$375,000	$168	68
347 Prospect Ave	0.30mi	5/2.0 (-1)	2,152 (+2%)	15mo	$115,000	$53	66
52 10th St	0.43mi	6/2.0	2,107 (-0%)	22mo	$100,000	$47	61
291 West Ave	0.49mi	5/2.0 (-1)	2,140 (+1%)	12mo	$325,500	$152	60
445 7th St	0.22mi	6/2.0	2,299 (+9%)	18mo	$100,000	$43	60
35 Lakeview Ave	0.27mi	5/2.0 (-1)	2,270 (+7%)	17mo	$135,000	$59	57
33 Lakeview Ave	0.26mi	6/3.0	2,409 (+14%)	11mo	$136,000	$56	51
538 7th St	0.36mi	6/2.0	2,360 (+12%)	18mo	$286,000	$121	49
36 Mariner St	0.67mi	5/2.0 (-1)	2,112 (-0%)	20mo	$250,000	$118	47
32 10th St	0.45mi	6/3.0	2,254 (+6%)	21mo	$121,000	$54	46
651 Prospect Ave	0.73mi	5/2.0 (-1)	2,026 (-4%)	9mo	$278,500	$137	46
549 Busti Ave	0.39mi	5/2.0 (-1)	2,324 (+10%)	17mo	$75,000	$32	46

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 · 4.28% rent growth · sell at horizon

5-year hold

• IRR: 29.7%
• Equity multiple: 2.26×
• Total profit: $70,619
• Equity at exit: $29,806

10-year hold

• IRR: 37.7%
• Equity multiple: 4.72×
• Total profit: $208,400
• Equity at exit: $17,284

Cash invested: $55,972 (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 14201

• Home prices YoY: -19.1%
• Rents YoY: 4.3%
• Active inventory: 56
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $3,699 high
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$777
• Net cashflow: $1,541

Break-even live

Break-even rent $1,749

Max offer price $199,900

Occupancy floor 53%

Sensitivity live

Price	-10% $1,679	-5% $1,610	+0% $1,541	+5% $1,472	+10% $1,403
Rent	-10% $1,249	-5% $1,395	+0% $1,541	+5% $1,687	+10% $1,833
Rate	-1.0pp $1,641	-0.5pp $1,592	base $1,541	+0.5pp $1,489	+1.0pp $1,436

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,700
Total (2 units)			$3,699

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $199,900 Active 62 DOM
2. 2026-06-18
   days on market $199,900 Active 59 DOM
3. 2026-06-17
   days on market $199,900 Active 58 DOM
4. 2026-06-16
   days on market $199,900 Active 57 DOM
5. 2026-06-15
   days on market $199,900 Active 56 DOM
6. 2026-06-13
   days on market $199,900 Active 54 DOM
7. 2026-06-13
   days on market $199,900 Active 53 DOM
8. 2026-06-10
   days on market $199,900 Active 51 DOM
9. 2026-06-09
   days on market $199,900 Active 50 DOM
10. 2026-06-08
    days on market $199,900 Active 49 DOM
11. 2026-06-07
    days on market $199,900 Active 48 DOM
12. 2026-06-03
    days on market $199,900 Active 44 DOM
13. 2026-06-02
    days on market $199,900 Active 43 DOM
14. 2026-06-01
    days on market $199,900 Active 42 DOM
15. 2026-05-31
    days on market $199,900 Active 41 DOM
16. 2026-04-20
    listed $199,900 Active 586-char remark
17. 2021-02-08
    soldstatus $55,000 Closed Sale or Rented 117-char remark

    Show marketing remark (117 chars)

    Welcome to 322 Trenton your next project steps from Downtown. 2100 Sqft+ 3/3 Double for under 55k. Come see it today.

18. 2021-02-08
    soldstatus $55,000

    Show marketing remark (117 chars)

    Welcome to 322 Trenton your next project steps from Downtown. 2100 Sqft+ 3/3 Double for under 55k. Come see it today.

19. 2020-09-26
    status Under Contract- Do Not Show 117-char remark

    Show marketing remark (117 chars)

    Welcome to 322 Trenton your next project steps from Downtown. 2100 Sqft+ 3/3 Double for under 55k. Come see it today.

20. 2020-08-24
    status Active 117-char remark

    Show marketing remark (117 chars)

    Welcome to 322 Trenton your next project steps from Downtown. 2100 Sqft+ 3/3 Double for under 55k. Come see it today.

21. 2020-08-14
    status Under Contract- Do Not Show 117-char remark

    Show marketing remark (117 chars)

    Welcome to 322 Trenton your next project steps from Downtown. 2100 Sqft+ 3/3 Double for under 55k. Come see it today.

22. 2020-08-12
    listed $54,900 Active 117-char remark

    Show marketing remark (117 chars)

    Welcome to 322 Trenton your next project steps from Downtown. 2100 Sqft+ 3/3 Double for under 55k. Come see it today.

ⓘ 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 3/10 Moderate 7 d/yr ≥91°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: $44,388
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,551
• − Management: −$3,551
• − Depreciation: −$5,815
• Taxable income: $16,275
• Est. tax owed @ 24.0%: −$3,906
• After-tax cash flow: $14,583/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): 12,369
• Household income: $40,512
• Rent vs Own: 76.4% rent · 23.6% own
• Severe rent burden: 1213.0

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 0.66)
• Race & ethnicity: White 42% Hispanic / Latino 36% Black 16% Two or more races 12% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 30% Dominican 1%
• Common ancestry: Romanian 7% Subsaharan African 2% Slovak 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 69% English-only · Spanish 24% Arabic 2% Other Indo-European 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: ▼ -68.73%
• Current HPI: 290.2643
• Rent YoY: ▲ 4.28%
• 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

+264.1% since first listed

7 events — show timeline

• 2026-04-20 Listed $199,900 WNYREIS
• 2021-02-08 Sold (Public Records) $55,000 Public Records
• 2021-02-08 Sold (MLS) $55,000 WNYREIS
• 2020-09-26 Pending — WNYREIS
• 2020-08-24 Relisted — WNYREIS
• 2020-08-14 Pending — WNYREIS
• 2020-08-12 Listed $54,900 WNYREIS

Property tax history

+16.4%/yr

Latest (2025): $287 · +13.9% YoY. Source: county tax records.