2143 Niagara St · Buffalo, NY 14207

$200,000

4 bd · 1.0 ba · 2,008 sqft · Other public records · 66 Days on market

Built 1900 4,594 sqft lot $100/sqft · 10% above area Est $310k · 35% under

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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 +17.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.5/10.0
• Rent growth +4.5/5.0
• Livability +3.9/5.0
• 1% rule +3.4/10.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Value-add investment opportunity on Niagara Street! This unique property features two residential buildings plus a detached garage, offering strong cash flow potential for investors or owner-occupants. The front single-family home is a spacious 5-bedroom, 1.5-bath colonial with a functional layout including a living room, dining room, and kitchen, plus a first-floor bedroom and four additional bedrooms upstairs—ideal for maximizing rental income. The rear building is a 2-unit (upper/lower) property with a walk-up attic, providing additional storage or future value-add potential. Live in the front single-family home while you renovate the rear duplex, then transition to a house-hack setup—rent out both units and offset your mortgage while living on-site. A detached garage adds off-street parking and additional income potential. Property requires rehab/TLC and is being sold as-is, making it ideal for investors pursuing a multi-family investment, fix-and-hold, or BRRRR strategy.

Key facts

• First-floor bedroom
• Walk-up attic
• Off-street parking

Tags

• TWO RESIDENTIAL BUILDINGS
• DETACHED GARAGE
• FIRST-FLOOR BEDROOM
• WALK-UP ATTIC
• OFF-STREET PARKING
• MULTI-FAMILY INVESTMENT

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath other listed at $200k.

Deal economics

• At list price, monthly cash flow is $158 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (15.6% below list).
• Recommended offer: $169k (15.6% below list) — sets the bar for 1% rule.

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 (+8.2%/yr); 197 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $1,688/mo this rent would consume 51% of the median local household income ($40k/yr) (locally 2177% 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 + 8.0% rent growth), your $56k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $25k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $200k implies a 184% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $168,766 (15.6% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.84% ✗
• Cap rate: 7.24%
• Cash-on-cash: 3.38%
• DSCR: 1.15
• GRM: 9.9

CMA / ARV

• ARV (median comp): $310,065
• List price: $200,000
• Delta: -35.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.76×
• Total profit: $-13,550
• Equity at exit: $29,821

10-year hold

• IRR: 8.1%
• Equity multiple: 1.74×
• Total profit: $41,312
• Equity at exit: $17,292

Cash invested: $56,000 (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 14207

• Home prices YoY: -18.9%
• Rents YoY: 8.2%
• Active inventory: 197
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,688 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$43 /mo · $521/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $158

Break-even live

Break-even rent $1,488

Max offer price $200,000

Occupancy floor 86%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
78 Germain St Buffalo, NY	3.0	1.0	2030	$1,300	$0.64	14d	1	0.89mi
61 Baxter St Buffalo, NY	3.0	1.0	2014	$1,400	$0.70	1d	1	1.06mi
100 Forest Ave Buffalo, NY	2.0–4.0	2.0–4.0	1304	$2,560	$1.96	1d	14	1.15mi
139 Fordham Dr Buffalo, NY	3.0	1.0	1453	$1,700	$1.17	23d	1	1.46mi

Listing history 19 events

1. 2026-06-18
   days on market $200,000 Active 66 DOM
2. 2026-06-17
   days on market $200,000 Active 65 DOM
3. 2026-06-16
   days on market $200,000 Active 64 DOM
4. 2026-06-15
   days on market $200,000 Active 63 DOM
5. 2026-06-13
   days on market $200,000 Active 61 DOM
6. 2026-06-13
   days on market $200,000 Active 60 DOM
7. 2026-06-10
   days on market $200,000 Active 58 DOM
8. 2026-06-09
   days on market $200,000 Active 57 DOM
9. 2026-06-08
   days on market $200,000 Active 56 DOM
10. 2026-06-07
    days on market $200,000 Active 55 DOM
11. 2026-06-03
    days on market $200,000 Active 51 DOM
12. 2026-06-02
    days on market $200,000 Active 50 DOM
13. 2026-06-01
    days on market $200,000 Active 49 DOM
14. 2026-05-31
    days on market $200,000 Active 48 DOM
15. 2026-04-13
    listed $224,900 Active 1002-char remark

    Show marketing remark (1002 chars)

    Value-add investment opportunity on Niagara Street! This unique property features two residential buildings plus a detached garage, offering strong cash flow potential for investors or owner-occupants. The front single-family home is a spacious 5-bedroom, 1.5-bath colonial with a functional layout including a living room, dining room, and kitchen, plus a first-floor bedroom and four additional bedrooms upstairs—ideal for maximizing rental income. The rear building is a 2-unit (upper/lower) property with a walk-up attic, providing additional storage or future value-add potential. Live in the front single-family home while you renovate the rear duplex, then transition to a house-hack setup—rent out both units and offset your mortgage while living on-site. A detached garage adds off-street parking and additional income potential. Property requires rehab/TLC and is being sold as-is, making it ideal for investors pursuing a multi-family investment, fix-and-hold, or BRRRR strategy.

16. 2019-10-18
    soldstatus $70,500 Closed Sale or Rented 368-char remark

    Show marketing remark (368 chars)

    This unique property has two houses on one parcel- First house has 5 bedrooms, two full baths, full attic and basement, updated electrical 150 amp service, formal dining room, living room- all rooms are good sizes. Second home has two apartments. Both homes are being sold in "as In" condition - cash only- all utilities are off in second home. Easy to show.

17. 2019-10-18
    soldstatus $70,500

    Show marketing remark (368 chars)

    This unique property has two houses on one parcel- First house has 5 bedrooms, two full baths, full attic and basement, updated electrical 150 amp service, formal dining room, living room- all rooms are good sizes. Second home has two apartments. Both homes are being sold in "as In" condition - cash only- all utilities are off in second home. Easy to show.

18. 2019-08-13
    status Under Contract- Do Not Show 368-char remark

    Show marketing remark (368 chars)

    This unique property has two houses on one parcel- First house has 5 bedrooms, two full baths, full attic and basement, updated electrical 150 amp service, formal dining room, living room- all rooms are good sizes. Second home has two apartments. Both homes are being sold in "as In" condition - cash only- all utilities are off in second home. Easy to show.

19. 2019-08-09
    listed $69,900 Active 368-char remark

    Show marketing remark (368 chars)

    This unique property has two houses on one parcel- First house has 5 bedrooms, two full baths, full attic and basement, updated electrical 150 amp service, formal dining room, living room- all rooms are good sizes. Second home has two apartments. Both homes are being sold in "as In" condition - cash only- all utilities are off in second home. Easy to show.

ⓘ 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: $521 · $43/mo
• Projected year-2 tax: $1,951 · $163/mo
• Expected delta: +$1,429/yr (+$119/mo · 274.2%)

ⓘ 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 ≥93°F today · 14 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: $20,252
• − Mortgage interest: −$11,203
• − Property taxes: −$521
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,620
• − Management: −$1,620
• − Depreciation: −$5,818
• Taxable loss: −$1,531
• Est. tax savings @ 24.0%: +$367
• After-tax cash flow: $2,259/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): 26,327
• Household income: $39,753
• Rent vs Own: 65.0% rent · 35.0% own
• Severe rent burden: 2177.0

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 0.74)
• Race & ethnicity: White 40% Hispanic / Latino 23% Black 16% Asian 15% Two or more races 14%
• Hispanic origin (detail): Puerto Rican 18% Dominican 2%
• Common ancestry: Romanian 8% Portuguese 1% Arab 1%
• Foreign-born: 19% · Philippines, Canada, India
• Languages at home: 65% English-only · Spanish 14% Other Asian/Pacific 10% Other Indo-European 5%

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: ▼ -54.42%
• Current HPI: 233.0902
• Rent YoY: ▲ 8.19%
• 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

+221.7% since first listed

5 events — show timeline

• 2026-04-13 Listed $224,900 WNYREIS
• 2019-10-18 Sold (Public Records) $70,500 Public Records
• 2019-10-18 Sold (MLS) $70,500 WNYREIS
• 2019-08-13 Pending — WNYREIS
• 2019-08-09 Listed $69,900 WNYREIS

Property tax history

+11.1%/yr

Latest (2025): $521 · +0.0% YoY. Source: county tax records.