57 Hartwell Rd · Buffalo, NY 14216

$150,000

4 bd · 2.0 ba · 1,736 sqft · MultiFamily public records · 22 Days on market

Built 1920 3,920 sqft lot Est $257k · 42% 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 +3.4/5.0
• 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

Are you ready to bring your vision to life? This quaint fixer-upper has endless potential and is ideally located in a demand N Buffalo neighborhood off Delaware. This rare side-by-side duplex in North Buffalo offers two identical layouts, each with 2 bedrooms and 1 bath. The living room, dining room, and kitchen floor plans can easily be modernized into an open layout. Located close to all the city conveniences and the Metro bus line. Included is a bonus 35x15 storage garage in the backyard. Updates include maintenance-free vinyl siding, some replacement windows, 150-amp electric circuit breakers, blown-in cellulose insulation, some bathroom updates, and recent front and rear entry doors. T

Key facts

• Side-by-side duplex
• Bonus storage garage
• Bathroom updates

Tags

• SIDE-BY-SIDE DUPLEX
• BONUS STORAGE GARAGE
• MAINTENANCE-FREE VINYL SIDING
• REPLACEMENT WINDOWS
• BLOWN-IN CELLULOSE INSULATION
• BATHROOM UPDATES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $148k (1.5% 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.
• Market conditions: Rents rising (+3.6%/yr); 88 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,617/mo this rent would consume 45% of the median local household income ($70k/yr) (locally 1831% 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 $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $63k; list at $150k implies a 139% 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 $147,750 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.74% ✓
• Cap rate: 15.52%
• Cash-on-cash: 32.95%
• DSCR: 2.47
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $256,928
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
130 W Hazeltine Ave	0.44mi	4/2.0	1,806 (+4%)	4mo	$246,000	$136	69
142 Camden Ave	0.09mi	3/2.0 (-1)	1,540 (-11%)	4mo	$205,000	$133	68
202 Tremaine Ave	0.52mi	4/2.0	1,728 (-0%)	11mo	$324,000	$188	66
92 Greeley St	0.49mi	5/2.0 (+1)	1,766 (+2%)	6mo	$220,000	$125	64
21 Sanders Rd	0.37mi	4/2.0	1,859 (+7%)	10mo	$210,000	$113	62
146 Ramsdell Ave	0.32mi	4/2.0	1,936 (+12%)	6mo	$281,000	$145	61
204 E Hazeltine Ave	0.75mi	4/2.0	1,733 (-0%)	9mo	$270,000	$156	58
4 Avery Ave	0.44mi	4/2.0	1,940 (+12%)	11mo	$290,000	$149	51
302 Hinman Ave	0.44mi	3/2.0 (-1)	1,482 (-15%)	1mo	$220,000	$148	49
140 Hoover Ave	0.75mi	4/2.0	1,656 (-5%)	10mo	$315,000	$190	49
120 Victoria Blvd	0.72mi	4/2.0	1,592 (-8%)	8mo	$300,000	$188	46
79 Lincoln Blvd	0.70mi	4/2.0	1,968 (+13%)	2mo	$260,000	$132	43

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 · 3.65% rent growth · sell at horizon

5-year hold

• IRR: 28.8%
• Equity multiple: 2.21×
• Total profit: $50,841
• Equity at exit: $22,365

10-year hold

• IRR: 36.5%
• Equity multiple: 4.47×
• Total profit: $145,880
• Equity at exit: $12,969

Cash invested: $42,000 (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 14216

• Rents YoY: 3.6%
• Active inventory: 88
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,617 high
• Mortgage (P&I): −$787
• Tax from tax record: −$65 /mo · $779/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$550
• Net cashflow: $1,153

Break-even live

Break-even rent $1,157

Max offer price $150,000

Occupancy floor 51%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,616
Total (2 units)			$2,617

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2522 Delaware Ave Buffalo, NY	3.0	1.0	1150	$1,625	$1.41	2d	1	0.24mi
2514 Delaware Ave Unit 1 Buffalo, NY	3.0	1.0	1620	$1,650	$1.02	2d	1	0.24mi
244 Hartwell Rd Buffalo, NY	3.0	1.0	1250	$1,500	$1.20	3d	1	0.34mi
77 Lovering Ave #2 Buffalo, NY	3.0	1.0	1450	$1,895	$1.31	44d	1	0.60mi
140 Commonwealth Ave Unit 1 Buffalo, NY	3.0	1.0	1250	$3,500	$2.80	44d	1	0.66mi
88 Commonwealth Ave Buffalo, NY	3.0	1.0	1355	$1,695	$1.25	20d	1	0.72mi
79 Commonwealth Ave Buffalo, NY	3.0	1.0	1450	$1,600	$1.10	24d	1	0.76mi
359 Colvin Ave Buffalo, NY	3.0	1.0	2010	$2,100	$1.04	24d	1	0.80mi
172 Tremont Ave Kenmore, NY	3.0	1.5	1569	$2,500	$1.59	10d	1	0.90mi
139 Fordham Dr Buffalo, NY	3.0	1.0	1453	$1,700	$1.17	24d	1	0.99mi
307 Sterling Ave Buffalo, NY	3.0	1.0	1632	$1,800	$1.10	3d	1	1.08mi
78 Germain St Buffalo, NY	3.0	1.0	2030	$1,300	$0.64	14d	1	1.21mi
62 Germain St Buffalo, NY	3.0	1.0	1320	$1,250	$0.95	24d	1	1.22mi
237 W Girard Blvd Buffalo, NY	4.0	1.5	1329	$4,000	$3.01	24d	1	1.27mi
414 Taunton Pl Unit Lowet Buffalo, NY	3.0	1.0	1232	$1,700	$1.38	14d	1	1.27mi
118 Rano St Buffalo, NY	3.0	1.0	1050	$1,200	$1.14	21d	1	1.29mi
62 Seabrook St Buffalo, NY	4.0	1.0	1300	$2,000	$1.54	2d	1	1.40mi

Listing history 5 events

1. 2026-03-31
   status Pending
2. 2026-03-23
   price $150,000
3. 2026-03-19
   price $160,000
4. 2026-03-09
   listed $175,000 Active
5. 2004-07-22
   soldstatus $62,700

ⓘ 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: $779 · $65/mo
• Projected year-2 tax: $1,657 · $138/mo
• Expected delta: +$878/yr (+$73/mo · 112.7%)

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,404
• − Mortgage interest: −$8,402
• − Property taxes: −$779
• − Insurance: −$750
• − Repairs & maintenance: −$2,512
• − Management: −$2,512
• − Depreciation: −$4,364
• Taxable income: $12,084
• Est. tax owed @ 24.0%: −$2,900
• After-tax cash flow: $10,940/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): 22,849
• Household income: $69,629
• Rent vs Own: 54.4% rent · 45.6% own
• Severe rent burden: 1831.0

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 (72%)
• Race & ethnicity: White 72% Black 16% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 10% Iranian 2% Lithuanian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 90% English-only · Spanish 5% French/Haitian/Cajun 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: ▼ -264.53%
• Current HPI: 421.1138
• Rent YoY: ▲ 3.65%
• 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

+139.2% since first listed

5 events — show timeline

• 2026-03-31 Pending — WNYREIS
• 2026-03-23 Price Changed $150,000 WNYREIS
• 2026-03-19 Price Changed $160,000 WNYREIS
• 2026-03-09 Listed $175,000 WNYREIS
• 2004-07-22 Sold (Public Records) $62,700 Public Records

Property tax history

+5.8%/yr

Latest (2025): $779 · +0.0% YoY. Source: county tax records.