169 Claremont Ave · Buffalo, NY 14222

$344,900

6 bd · 2.0 ba · 2,804 sqft · MultiFamily public records · 3 Days on market

Built 1920 4,250 sqft lot Est $426k · 19% 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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +5.3/10.0
• Livability +3.9/5.0
• Rent growth +3.7/5.0
• 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

Welcome to 169 Claremont Avenue. Excellent investment or owner-occupant opportunity in the highly sought-after Elmwood Village area of Buffalo. This classic double features two spacious 3-bedroom, 1-bath apartments, offering strong rental potential and flexible living arrangements. The property includes generous room sizes, separate living and dining areas, and the character and charm typical of Buffalo's historic architecture. Ideally located on a quiet residential street just minutes from Elmwood Avenue's vibrant dining, shopping, entertainment, and cultural attractions. Residents enjoy easy access to parks, coffee shops, local boutiques, public transportation, and major commuter routes.

Key facts

• Elmwood village area
• Easy access to parks
• 4,250 sq ft lot

Tags

• ELMWOOD VILLAGE AREA
• HISTORIC ARCHITECTURE
• QUIET RESIDENTIAL STREET
• EASY ACCESS TO PARKS
• PUBLIC TRANSPORTATION
• MAJOR COMMUTER ROUTES

Property features AI

Finance

• Financial info: Owner pays water; rent includes water; Operating expenses include utilities; One unit currently rented for $600 on a month-to-month tenancy

Exterior

• Parking: Two or more parking spaces
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: Two-story multi-family building; Resale property; Shake siding exterior
• Construction: Shake siding construction; Existing structure (year built: existing)
• Exterior features: Partial fencing; Open porch; Patio/porch area; Rectangular lot with main thoroughfare frontage

Interior

• Kitchen: Unit 2 includes oven/range and refrigerator
• Bedrooms: Two 3-bedroom units (each unit has 3 bedrooms)
• Flooring: Carpet; Vinyl; Varies
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Carpet, vinyl and varied flooring throughout
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $345k.

Deal economics

• At list price, monthly cash flow is $751 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $345k).

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 (+4.7%/yr); 63 active listings in the ZIP; solid renter incomes; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,547/mo this rent would consume 52% of the median local household income ($82k/yr) (locally 978% 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 $10k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $97k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $344,900

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: 1.03% ✓
• Cap rate: 8.90%
• Cash-on-cash: 9.33%
• DSCR: 1.42
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $426,208
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
61 Claremont Ave	0.22mi	6/2.0	2,912 (+4%)	8mo	$411,000	$141	77
122 Saint James Pl	0.48mi	6/2.0	2,926 (+4%)	1mo	$475,000	$162	69
637 W Delavan Ave Unit S	0.38mi	6/2.0	3,020 (+8%)	1mo	$460,000	$152	68
414 Hoyt St	0.35mi	5/2.0 (-1)	2,640 (-6%)	6mo	$209,900	$80	64
128 Lancaster Ave	0.63mi	6/2.0	2,912 (+4%)	1mo	$510,000	$175	64
215 Baynes St	0.48mi	6/2.0	2,660 (-5%)	8mo	$255,000	$96	62
330 Potomac Ave	0.44mi	6/4.0	2,896 (+3%)	6mo	$263,000	$91	61
559 Potomac Ave	0.21mi	6/2.0	2,402 (-14%)	6mo	$437,500	$182	61
343 Baynes St	0.30mi	6/2.0	2,464 (-12%)	10mo	$400,000	$162	58
1598 Delaware Ave	0.57mi	6/2.0	2,580 (-8%)	6mo	$380,000	$147	55
723 W Delavan Ave	0.48mi	5/2.0 (-1)	3,216 (+15%)	1mo	$325,000	$101	47
575 Auburn Ave	0.58mi	6/3.0	2,456 (-12%)	9mo	$380,000	$155	40

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 · 4.69% rent growth · sell at horizon

5-year hold

• IRR: -0.6%
• Equity multiple: 0.98×
• Total profit: $-2,097
• Equity at exit: $51,426

10-year hold

• IRR: 10.6%
• Equity multiple: 1.88×
• Total profit: $85,175
• Equity at exit: $29,821

Cash invested: $96,572 (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 14222

• Home prices YoY: -31.4%
• Rents YoY: 4.7%
• Active inventory: 63
• Price-to-rent: 16.2×

Monthly cashflow live

• Estimated rent: $3,547 high
• Mortgage (P&I): −$1,809
• Tax from tax record: −$99 /mo · $1,189/yr
• Insurance: −$144
• HOA: −$0
• Vacancy / Maint / Mgmt: −$745
• Net cashflow: $751

Break-even live

Break-even rent $2,597

Max offer price $344,900

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,546
Total (2 units)			$3,547

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: $86,225
• Closing costs: $10,347
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-07
   statusdays on market $344,900 Pending 3 DOM
2. 2026-06-02
   remarks 699-char remark
3. 2026-06-02
   listed $344,900 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: $1,189 · $99/mo
• Projected year-2 tax: $3,509 · $292/mo
• Expected delta: +$2,320/yr (+$193/mo · 195.1%)

ⓘ 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 ≥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: $42,564
• − Mortgage interest: −$19,320
• − Property taxes: −$1,189
• − Insurance: −$1,724
• − Repairs & maintenance: −$3,405
• − Management: −$3,405
• − Depreciation: −$10,033
• Taxable income: $3,487
• Est. tax owed @ 24.0%: −$837
• After-tax cash flow: $8,171/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): 15,311
• Household income: $81,652
• Rent vs Own: 60.1% rent · 39.9% own
• Severe rent burden: 978.0

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 (74%)
• Race & ethnicity: White 74% Black 11% Hispanic / Latino 8% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Romanian 13% Lithuanian 2% Slovak 2%
• Foreign-born: 7% · Canada, Vietnam, Jamaica
• Languages at home: 89% English-only · Spanish 3% German/W. Germanic 2% French/Haitian/Cajun 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: ▼ -205.10%
• Current HPI: 448.3711
• Rent YoY: ▲ 4.69%
• 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

1 event — show timeline

• 2026-06-02 Listed $344,900 WNYREIS

Property tax history

+3.2%/yr

Latest (2025): $1,189 · -13.8% YoY. Source: county tax records.