264 E Main St · Hamburg, NY 14075

$259,900

3 bd · 2.0 ba · 1,596 sqft · MultiFamily public records · 148 Days on market

Built 1950 0.26 ac lot $163/sqft · 52% below area

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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 +22.8/30.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• DSCR +7.3/10.0
• Schools +4.9/10.0
• Livability +4.2/5.0
• Rent growth +3.8/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Wonderful opportunity to own this 2 unit in the beautiful Village Of Hamburg with separate utilities. Lower unit has 2 bedrooms and 1 full bath. Nice size eat in kitchen and large living room with fireplace (nrtc). Covered porch to enjoy the warmer days ahead. Upper unit has 1 bedroom and a full bath. Living room and extra storage room. Full basement with separate laundry hook ups. Fully fenced in yard. Two car garage. Close to all village restaurants, shops and amenities !!!!!!!

Key facts

• Covered porch
• Eat in kitchen
• Large living room

Tags

• EAT IN KITCHEN
• LARGE LIVING ROOM
• COVERED PORCH
• EXTRA STORAGE ROOM
• FULL BASEMENT
• SEPARATE LAUNDRY HOOK UPS

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $260k.

Deal economics

• At list price, monthly cash flow is $452 ($5k/yr) — positive. Per door: $226/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Recommended offer: $229k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 2.4% in Hamburg — 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 84/100 on livability (#43 in NY, #692 nationally) — a professional / high-income tenant draw. Strengths: schools A+, employment A+, housing A+; Watch: commute F.
• Hamburg Central School District (suburban): math 46% / reading 66% proficiency, ranked #267 of 590 in NY (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+5.2%/yr); 262 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,217/mo this rent would consume 46% of the median local household income ($83k/yr) (locally 824% 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 + 5.2% rent growth), your $73k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($229k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $135k; list at $260k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $228,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 148 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. 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.
10. 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.
11. 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: 1.24% ✓
• Cap rate: 8.38%
• Cash-on-cash: 7.45%
• DSCR: 1.33
• GRM: 6.7

CMA / ARV

• ARV (median comp): $540,800
• List price: $259,900
• Delta: -51.94%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
129 E Main St	0.25mi	3/2.0	1,600 (+0%)	12mo	$249,900	$156	78

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 · 5.21% rent growth · sell at horizon

5-year hold

• IRR: -2.1%
• Equity multiple: 0.92×
• Total profit: $-5,802
• Equity at exit: $38,752

10-year hold

• IRR: 10.2%
• Equity multiple: 1.88×
• Total profit: $64,316
• 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 14075

• Rents YoY: 5.2%
• Active inventory: 262
• Price-to-rent: 13.5×

Monthly cashflow live

• Estimated rent: $3,217 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$618 /mo · $7,421/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$676
• Net cashflow: $452

Break-even live

Break-even rent $2,645

Max offer price $259,900

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,218
Total (2 units)			$3,217

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
35 W Crescent Ave Unit A Hamburg, NY	2.0	2.0	1420	$2,650	$1.87	1d	1	0.59mi
67 Huron St Unit 2 Hamburg, NY	2.0	1.0	1100	$1,475	$1.34	14d	1	1.25mi

Listing history 6 events

1. 2026-05-01
   price $259,900 484-char remark

   Show marketing remark (484 chars)

   Wonderful opportunity to own this 2 unit in the beautiful Village Of Hamburg with separate utilities. Lower unit has 2 bedrooms and 1 full bath. Nice size eat in kitchen and large living room with fireplace (nrtc). Covered porch to enjoy the warmer days ahead. Upper unit has 1 bedroom and a full bath. Living room and extra storage room. Full basement with separate laundry hook ups. Fully fenced in yard. Two car garage. Close to all village restaurants, shops and amenities !!!!!!!

2. 2025-12-29
   listed $279,900 Active 484-char remark

   Show marketing remark (484 chars)

   Wonderful opportunity to own this 2 unit in the beautiful Village Of Hamburg with separate utilities. Lower unit has 2 bedrooms and 1 full bath. Nice size eat in kitchen and large living room with fireplace (nrtc). Covered porch to enjoy the warmer days ahead. Upper unit has 1 bedroom and a full bath. Living room and extra storage room. Full basement with separate laundry hook ups. Fully fenced in yard. Two car garage. Close to all village restaurants, shops and amenities !!!!!!!

3. 2015-08-20
   soldstatus $134,900
4. 2015-08-01
   soldstatus $134,900 Closed Sale or Rented 498-char remark

   Show marketing remark (498 chars)

   DO YOU WANT OWNER OCCUPIED WITH A TENANT TO HELP PAY YOUR MORTGAGE? CHECK OUT THIS 2 BEDROOM DOWN & 1 UP IN A GREAT VILLAGE LOCATION - UPDATES INCLUDE WINDOWS 2013, TOTAL TEAR OFF ROOF 2007 INCLUDING GARAGE ROOF TOO, HI EFFICIENCY FURNACE (UPPER) 2011 & BOTH HOT WATER TANKS IN THE LAST 6 YEARS - CHIMNEY POINTED 2014 - BASEMENT IS PARTIALLY FINISHED - 2 DRIVEWAYS , ONE ON MAIN STREET & ONE ON NEWTON WITH GARAGE ACCESS - LOT RUNS THE ENTIRE LENGTH - MAKE YOUR APPOINTMENT TODAY!

5. 2015-06-09
   status Pending Sale 498-char remark

   Show marketing remark (498 chars)

   DO YOU WANT OWNER OCCUPIED WITH A TENANT TO HELP PAY YOUR MORTGAGE? CHECK OUT THIS 2 BEDROOM DOWN & 1 UP IN A GREAT VILLAGE LOCATION - UPDATES INCLUDE WINDOWS 2013, TOTAL TEAR OFF ROOF 2007 INCLUDING GARAGE ROOF TOO, HI EFFICIENCY FURNACE (UPPER) 2011 & BOTH HOT WATER TANKS IN THE LAST 6 YEARS - CHIMNEY POINTED 2014 - BASEMENT IS PARTIALLY FINISHED - 2 DRIVEWAYS , ONE ON MAIN STREET & ONE ON NEWTON WITH GARAGE ACCESS - LOT RUNS THE ENTIRE LENGTH - MAKE YOUR APPOINTMENT TODAY!

6. 2015-06-01
   listed $134,900 Active 498-char remark

   Show marketing remark (498 chars)

   DO YOU WANT OWNER OCCUPIED WITH A TENANT TO HELP PAY YOUR MORTGAGE? CHECK OUT THIS 2 BEDROOM DOWN & 1 UP IN A GREAT VILLAGE LOCATION - UPDATES INCLUDE WINDOWS 2013, TOTAL TEAR OFF ROOF 2007 INCLUDING GARAGE ROOF TOO, HI EFFICIENCY FURNACE (UPPER) 2011 & BOTH HOT WATER TANKS IN THE LAST 6 YEARS - CHIMNEY POINTED 2014 - BASEMENT IS PARTIALLY FINISHED - 2 DRIVEWAYS , ONE ON MAIN STREET & ONE ON NEWTON WITH GARAGE ACCESS - LOT RUNS THE ENTIRE LENGTH - MAKE YOUR APPOINTMENT TODAY!

ⓘ 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: $7,421 · $618/mo
• Projected year-2 tax: $7,421 · $618/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low 7 d/yr ≥91°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,604
• − Mortgage interest: −$14,558
• − Property taxes: −$7,421
• − Insurance: −$1,300
• − Repairs & maintenance: −$3,088
• − Management: −$3,088
• − Depreciation: −$7,561
• Taxable income: $1,587
• Est. tax owed @ 24.0%: −$381
• After-tax cash flow: $5,040/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: Hamburg Central School District
• NCES district ID: 3613350
• Math proficiency: 46% ▼ -26.00%
• Reading proficiency: 66% ▲ 3.00%
• Median HH income: $68,342
• Composite: 49.43/100
• National rank: #2006
• State rank: #267 of 590 in NY

Livability — Hamburg

• Score: 84/100
• State rank: #43
• US rank: #692

Category grades

Amenities B Commute F Cost of living B- Crime C Employment A+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hamburg, NY
• County: Erie County · 714,559 people
• City population: 44,520
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 44,520
• Household income: $83,383
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 824.0

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 White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Romanian 20% Lithuanian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% 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: ▼ -261.10%
• Current HPI: 300.2852
• Rent YoY: ▲ 5.21%
• 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

+92.7% since first listed

6 events — show timeline

• 2026-05-01 Price Changed $259,900 WNYREIS
• 2025-12-29 Listed $279,900 WNYREIS
• 2015-08-20 Sold (Public Records) $134,900 Public Records
• 2015-08-01 Sold (MLS) $134,900 WNYREIS
• 2015-06-09 Pending — WNYREIS
• 2015-06-01 Listed $134,900 WNYREIS

Property tax history

+1.9%/yr

Latest (2025): $7,421 · +2.4% YoY. Source: county tax records.