205 Lasalle Ave · Buffalo, NY 14214

$199,000

5 bd · 1.5 ba · 1,446 sqft · SingleFamily public records · 6 Days on market

Built 1925 4,912 sqft lot Est $197k · at est.

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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 +27.9/30.0
• DSCR +9.9/10.0
• ARV discount +7.0/15.0
• 1% rule +6.4/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sold "as is" condition. Seller will not make any repairs. Lovely, spacious home located in Buffalo's University Heights neighborhood. 3 bedrooms with a finished attic that turns into a possible 5 bedroom home. Great for an owner occupant and / or investor. A half mile away from UB South Campus, University Plaza, various restaurants.

Key facts

• Formal dining room
• Private driveway
• Spacious kitchen

Tags

• SUN-FILLED LIVING ROOM
• FORMAL DINING ROOM
• SPACIOUS KITCHEN
• FULLY FINISHED ATTIC
• BEAUTIFUL BACKYARD
• PRIVATE DRIVEWAY

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: 2-story house; Existing/previously built property
• Construction: Cedar and wood siding; Stone foundation
• Exterior features: Concrete driveway; Rectangular residential lot (35 x 139)

Interior

• Kitchen: Dishwasher
• Bedrooms: Total rooms: 8; Includes a laundry room
• Flooring: Carpet; Hardwood; Varies
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Gas heating; Forced air
• Interior features: Attic; Separate/formal dining room; Full basement
• Laundry & utility: Laundry located in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $615 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Cap rate 10.0% vs local median 8.0% 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.
• Market conditions: Rents rising fast (+5.8%/yr); 92 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,264/mo this rent would consume 47% of the median local household income ($58k/yr) (locally 1820% 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 + 5.8% rent growth), your $56k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 $130k; list at $199k implies a 53% 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 $199,000

Questions for the listing agent

1. Built in 1925 — 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 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: 1.14% ✓
• Cap rate: 10.00%
• Cash-on-cash: 13.24%
• DSCR: 1.59
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $196,656
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
176 Lasalle Ave	0.06mi	4/2.0 (-1)	1,601 (+11%)	2mo	$270,000	$169	70
14 Thornton Ave	0.51mi	4/2.0 (-1)	1,445 (-0%)	4mo	$239,900	$166	65
216 Lasalle Ave	0.03mi	4/2.0 (-1)	1,638 (+13%)	6mo	$140,000	$85	64
142 Englewood Ave	0.71mi	5/1.5	1,504 (+4%)	4mo	$215,000	$143	57
253 Winspear Ave	0.36mi	4/2.0 (-1)	1,584 (+10%)	6mo	$315,100	$199	56
243 Berkshire Ave	0.46mi	4/2.0 (-1)	1,617 (+12%)	1mo	$220,000	$136	51
37 Elmer Ave	0.63mi	4/1.0 (-1)	1,327 (-8%)	0mo	$170,000	$128	50
83 Custer St	0.50mi	4/1.0 (-1)	1,295 (-10%)	6mo	$170,000	$131	47
559 E Amherst St	0.49mi	4/2.0 (-1)	1,274 (-12%)	6mo	$182,000	$143	45
307 Berkshire Ave	0.54mi	4/1.0 (-1)	1,623 (+12%)	4mo	$182,000	$112	43
622 Lasalle Ave	0.70mi	4/1.0 (-1)	1,258 (-13%)	3mo	$115,000	$91	36
34 Copsewood Ave	0.75mi	4/2.0 (-1)	1,602 (+11%)	6mo	$170,000	$106	36

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 · 5.81% rent growth · sell at horizon

5-year hold

• IRR: 6.0%
• Equity multiple: 1.24×
• Total profit: $13,387
• Equity at exit: $29,672

10-year hold

• IRR: 17.5%
• Equity multiple: 2.62×
• Total profit: $90,302
• Equity at exit: $17,206

Cash invested: $55,720 (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 14214

• Rents YoY: 5.8%
• Active inventory: 92
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,264 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$47 /mo · $568/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $615

Break-even live

Break-even rent $1,486

Max offer price $199,000

Occupancy floor 68%

Sensitivity live

Price	-10% $727	-5% $671	+0% $615	+5% $558	+10% $502
Rent	-10% $436	-5% $525	+0% $615	+5% $704	+10% $793
Rate	-1.0pp $715	-0.5pp $665	base $615	+0.5pp $563	+1.0pp $511

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
222 Lisbon Ave Buffalo, NY	4.0	1.0	1300	$1,400	$1.08	24d	1	0.18mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,997	$2.93	2d	10	0.25mi
65 Northrup Pl Buffalo, NY	5.0	2.0	1467	$2,500	$1.70	15d	1	0.26mi
60 Englewood Ave Buffalo, NY	4.0	1.0	1400	$1,650	$1.18	2d	1	0.56mi
189 Westminster Ave Buffalo, NY	4.0	1.5	1065	$1,595	$1.50	11d	1	0.86mi
91 Springville Ave Buffalo, NY	4.0	2.0	1660	$2,350	$1.42	24d	1	1.12mi

Listing history 5 events

1. 2026-06-21
   days on market $199,000 Active 6 DOM
2. 2026-06-18
   days on market $199,000 Active 3 DOM
3. 2026-06-17
   days on market $199,000 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $199,000 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: $568 · $47/mo
• Projected year-2 tax: $1,966 · $164/mo
• Expected delta: +$1,398/yr (+$116/mo · 246.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°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: $27,166
• − Mortgage interest: −$11,147
• − Property taxes: −$568
• − Insurance: −$995
• − Repairs & maintenance: −$2,173
• − Management: −$2,173
• − Depreciation: −$5,789
• Taxable income: $4,320
• Est. tax owed @ 24.0%: −$1,037
• After-tax cash flow: $6,338/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): 21,314
• Household income: $58,228
• Rent vs Own: 57.7% rent · 42.3% own
• Severe rent burden: 1820.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 47% Black 31% Asian 11% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 5% Lithuanian 2% Scotch-Irish 1%
• Foreign-born: 14% · Canada, China
• Languages at home: 81% English-only · Other Indo-European 7% Spanish 4% Other Asian/Pacific 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: ▼ -282.52%
• Current HPI: 373.377
• Rent YoY: ▲ 5.81%
• 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

+221.0% since first listed

8 events — show timeline

• 2026-06-15 Listed $199,000 WNYREIS
• 2021-12-13 Sold (MLS) $130,050 WNYREIS
• 2021-11-23 Sold (Public Records) $130,050 Public Records
• 2021-07-30 Pending — WNYREIS
• 2021-07-09 Pending — WNYREIS
• 2021-06-28 Listed $119,999 WNYREIS
• 1997-07-31 Sold (Public Records) $66,000 Public Records
• 1996-03-21 Sold (Public Records) $62,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $568 · +111.1% YoY. Source: county tax records.