67 Thornton Ave · Buffalo, NY 14215

$210,000

4 bd · 2.0 ba · 2,179 sqft · MultiFamily public records · 73 Days on market

Built 1925 3,300 sqft lot $96/sqft · 13% below area Est $242k · 13% 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 +27.4/30.0
• ARV discount +13.4/15.0
• DSCR +9.6/10.0
• 1% rule +7.4/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.7/5.0
• 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

A mile away from UB campus! TWO unit with stunning woodwork and stained glass throughout. A beautiful large mudroom/ entrance hall opens into a beautiful Living room/ den combo leading into a stunningly framed dining room with exquisite woodwork. Hardwood floors throughout. Open breakfast bar into a partial renovated kitchen. New counter tops, sink and faucet. Renovated bathrooms. A NEW ROOF done in 2024 as well as a BRAND NEW GARAGE. Updated electrical. Ample parking in driveway for extra cars. Solid, dry, stone basement with high ceilings. Close to all shopping areas and UB!

Key facts

• New counter tops
• Large mudroom
• Stained glass

Tags

• STUNNING WOODWORK
• STAINED GLASS
• LARGE MUDROOM
• OPEN BREAKFAST BAR
• PARTIALLY RENOVATED KITCHEN
• NEW COUNTER TOPS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $210k.

Deal economics

• At list price, monthly cash flow is $612 ($7k/yr) — positive. Per door: $306/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $197k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 8.1% in Buffalo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 flat; 239 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 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 $2,612/mo this rent would consume 70% of the median local household income ($45k/yr) (locally 2873% 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.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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 $85k; list at $210k implies a 146% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $197,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% 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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 9.79%
• Cash-on-cash: 12.49%
• DSCR: 1.56
• GRM: 6.7

CMA / ARV

• ARV (median comp): $241,711
• List price: $210,000
• Delta: -13.12%
• 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
44 Freeman St	0.22mi	4/2.0	2,182 (+0%)	9mo	$144,000	$66	82
18 Phyllis Ave	0.24mi	5/2.0 (+1)	2,134 (-2%)	8mo	$138,000	$65	74
208 Davidson Ave	0.47mi	5/2.0 (+1)	2,199 (+1%)	8mo	$170,000	$77	65
19 Dunlop Ave	0.52mi	5/2.0 (+1)	2,160 (-1%)	6mo	$160,000	$74	65
192 Berkshire Ave	0.24mi	4/2.0	1,955 (-10%)	10mo	$129,000	$66	64
132 Hewitt Ave	0.33mi	4/2.0	1,946 (-11%)	5mo	$125,000	$64	63
40 Ruspin Ave	0.53mi	4/2.0	2,351 (+8%)	2mo	$307,000	$131	60
35 Erskine Ave	0.72mi	4/2.0	2,135 (-2%)	5mo	$170,000	$80	59
486 Hewitt Ave	0.48mi	3/2.0 (-1)	2,233 (+2%)	13mo	$176,000	$79	57
337 Davidson Ave	0.72mi	5/2.0 (+1)	2,199 (+1%)	9mo	$230,000	$105	53
171 Davidson Ave	0.41mi	4/2.5	1,857 (-15%)	10mo	$200,000	$108	46
626 Lisbon Ave	0.71mi	5/2.0 (+1)	1,919 (-12%)	8mo	$250,000	$130	35

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 · 0.67% rent growth · sell at horizon

5-year hold

• IRR: -0.5%
• Equity multiple: 0.98×
• Total profit: $-982
• Equity at exit: $31,312

10-year hold

• IRR: 6.6%
• Equity multiple: 1.44×
• Total profit: $26,078
• Equity at exit: $18,157

Cash invested: $58,800 (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 14215

• Home prices YoY: -30.0%
• Rents YoY: 0.7%
• Active inventory: 239
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $2,612 high
• Mortgage (P&I): −$1,101
• Tax est. 1.5%: −$262 /mo · $3,150/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$549
• Net cashflow: $612

Break-even live

Break-even rent $1,837

Max offer price $210,000

Occupancy floor 72%

Sensitivity live

Price	-10% $757	-5% $685	+0% $612	+5% $540	+10% $467
Rent	-10% $406	-5% $509	+0% $612	+5% $715	+10% $819
Rate	-1.0pp $718	-0.5pp $666	base $612	+0.5pp $558	+1.0pp $502

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,612
Total (2 units)			$2,612

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25 Parkridge Ave Buffalo, NY	3.0	1.0	1914	$1,350	$0.71	16d	1	0.40mi
222 Lisbon Ave Unit Upper Buffalo, NY	3.0	1.0	1400	$1,400	$1.00	46d	1	0.66mi
175 Lisbon Ave Buffalo, NY	5.0	2.0	2000	$2,500	$1.25	16d	1	0.69mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,997	$2.93	4d	10	0.79mi
85 Highgate Ave Buffalo, NY	5.0	2.0	2193	$3,750	$1.71	16d	1	0.83mi
59 Lisbon Ave Buffalo, NY	3.0	1.0	2521	$1,250	$0.50	26d	1	0.85mi
65 Northrup Pl Buffalo, NY	5.0	2.0	1467	$2,500	$1.70	16d	1	0.87mi
24 Custer St Buffalo, NY	5.0	2.0	2500	$3,000	$1.20	16d	1	1.01mi
60 Englewood Ave Buffalo, NY	4.0	1.0	1400	$1,650	$1.18	0d	1	1.16mi
91 Englewood Ave Buffalo, NY	4.0	1.0	2500	$2,000	$0.80	0d	1	1.23mi
102 Englewood Ave Buffalo, NY	4.0	1.0	2426	$2,750	$1.13	0d	1	1.23mi
63 Montrose Ave Buffalo, NY	4.0	1.0	2240	$2,000	$0.89	0d	1	1.32mi
80 Capen Blvd Buffalo, NY	5.0	2.5	2591	$2,800	$1.08	0d	1	1.39mi
196 Englewood Ave Unit Lower Buffalo, NY	5.0	1.5	2560	$2,000	$0.78	0d	1	1.39mi
163 Carmel Rd Buffalo, NY	3.0	1.0	1400	$1,800	$1.29	5d	1	1.46mi

Listing history 27 events

1. 2026-06-22
   days on market $210,000 Active 73 DOM
2. 2026-06-21
   days on market $210,000 Active 72 DOM
3. 2026-06-18
   days on market $210,000 Active 69 DOM
4. 2026-06-17
   days on market $210,000 Active 68 DOM
5. 2026-06-16
   days on market $210,000 Active 67 DOM
6. 2026-06-15
   days on market $210,000 Active 66 DOM
7. 2026-06-13
   days on market $210,000 Active 64 DOM
8. 2026-06-13
   days on market $210,000 Active 63 DOM
9. 2026-06-10
   days on market $210,000 Active 61 DOM
10. 2026-06-09
    days on market $210,000 Active 60 DOM
11. 2026-06-08
    days on market $210,000 Active 59 DOM
12. 2026-06-07
    days on market $210,000 Active 58 DOM
13. 2026-06-03
    days on market $210,000 Active 54 DOM
14. 2026-06-02
    days on market $210,000 Active 53 DOM
15. 2026-06-01
    days on market $210,000 Active 52 DOM
16. 2026-05-31
    days on market $210,000 Active 51 DOM
17. 2026-04-28
    status Active 583-char remark

    Show marketing remark (583 chars)

    A mile away from UB campus! TWO unit with stunning woodwork and stained glass throughout. A beautiful large mudroom/ entrance hall opens into a beautiful Living room/ den combo leading into a stunningly framed dining room with exquisite woodwork. Hardwood floors throughout. Open breakfast bar into a partial renovated kitchen. New counter tops, sink and faucet. Renovated bathrooms. A NEW ROOF done in 2024 as well as a BRAND NEW GARAGE. Updated electrical. Ample parking in driveway for extra cars. Solid, dry, stone basement with high ceilings. Close to all shopping areas and UB!

18. 2026-04-27
    status Pending 583-char remark

    Show marketing remark (583 chars)

    A mile away from UB campus! TWO unit with stunning woodwork and stained glass throughout. A beautiful large mudroom/ entrance hall opens into a beautiful Living room/ den combo leading into a stunningly framed dining room with exquisite woodwork. Hardwood floors throughout. Open breakfast bar into a partial renovated kitchen. New counter tops, sink and faucet. Renovated bathrooms. A NEW ROOF done in 2024 as well as a BRAND NEW GARAGE. Updated electrical. Ample parking in driveway for extra cars. Solid, dry, stone basement with high ceilings. Close to all shopping areas and UB!

19. 2026-04-09
    listed $210,000 Active 583-char remark

    Show marketing remark (583 chars)

    A mile away from UB campus! TWO unit with stunning woodwork and stained glass throughout. A beautiful large mudroom/ entrance hall opens into a beautiful Living room/ den combo leading into a stunningly framed dining room with exquisite woodwork. Hardwood floors throughout. Open breakfast bar into a partial renovated kitchen. New counter tops, sink and faucet. Renovated bathrooms. A NEW ROOF done in 2024 as well as a BRAND NEW GARAGE. Updated electrical. Ample parking in driveway for extra cars. Solid, dry, stone basement with high ceilings. Close to all shopping areas and UB!

20. 2025-11-03
    historical
21. 2025-09-30
    listed $265,000 Active
22. 2019-05-13
    soldstatus $85,250 Closed Sale or Rented
23. 2019-05-13
    soldstatus $85,250
24. 2019-03-20
    status Under Contract- Do Not Show
25. 2019-03-05
    listed $74,900 Active
26. 2017-04-07
    soldstatus $64,700
27. 2016-09-27
    soldstatus $25,000

ⓘ 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 ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,344
• − Mortgage interest: −$11,763
• − Property taxes: −$3,150
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,508
• − Management: −$2,508
• − Depreciation: −$6,109
• Taxable income: $4,257
• Est. tax owed @ 24.0%: −$1,022
• After-tax cash flow: $6,325/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): 42,524
• Household income: $44,955
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 2873.0

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 Black (67%)
• Race & ethnicity: Black 67% White 15% Asian 7% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada, China
• Languages at home: 88% English-only · Other Indo-European 4% Spanish 4% Chinese 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: ▼ -126.29%
• Current HPI: 295.2966
• Rent YoY: ▲ 0.67%
• 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

+740.0% since first listed

11 events — show timeline

• 2026-04-28 Relisted — WNYREIS
• 2026-04-27 Pending — WNYREIS
• 2026-04-09 Listed $210,000 WNYREIS
• 2025-11-03 Listing Removed — WNYREIS
• 2025-09-30 Listed $265,000 WNYREIS
• 2019-05-13 Sold (Public Records) $85,250 Public Records
• 2019-05-13 Sold (MLS) $85,250 WNYREIS
• 2019-03-20 Pending — WNYREIS
• 2019-03-05 Listed $74,900 WNYREIS
• 2017-04-07 Sold (Public Records) $64,700 Public Records
• 2016-09-27 Sold (Public Records) $25,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $291 · +0.0% YoY. Source: county tax records.