257 Ideal St · Buffalo, NY 14206

$149,900

6 bd · 3.0 ba · 2,734 sqft · MultiFamily public records · 11 Days on market

Built 1910 4,020 sqft lot Est $191k · 22% under

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Why this score? — see what drove the A 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
• Appreciation +9.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

IDEAL opportunity to own a spacious 3-unit property in Buffalo’s established Lovejoy neighborhood! This multi-family offers an attractive unit mix featuring two lower 2-bedroom apartments and a sprawling upper 4-bedroom apartment, providing strong income potential and flexible living arrangements. The property showcases generous living spaces, separate entrances, and the classic charm found in Buffalo’s historic residential architecture. Whether you’re looking to expand your investment portfolio or occupy one unit while generating rental income from the others, this property presents a compelling opportunity. Located in the heart of Lovejoy, residents enjoy convenient acce

Key facts

• 3 unit property
• Multi-family
• Convenient access

Tags

• 3 UNIT PROPERTY
• MULTI-FAMILY
• SEPARATE ENTRANCES
• STRONG INCOME POTENTIAL
• FLEXIBLE LIVING ARRANGEMENTS
• CONVENIENT ACCESS

Property features AI

Finance

• Other: Property is a 3-unit multi-family with separate gas and electric meters for each unit
• Financial info: Owner pays trash collection and water; Rent includes trash collection and water; Operating expenses include trash (see remarks)

Exterior

• Parking: Concrete parking
• Utilities: Electricity connected; Sewer connected; Public water connected
• Home design: 2-story building; Existing construction
• Construction: Composite siding
• Exterior features: Rectangular residential lot; Near public transit; City street and main thoroughfare frontage; includes right of way

Interior

• Flooring: Carpet; Hardwood; Laminate; Varies
• Bathrooms: Three full bathrooms
• Heating & cooling: Gas heating; Forced air; Space heater
• Interior features: Partial basement; Gas water heater; Carpet, hardwood, laminate, and varied flooring throughout

What this means for you Summary

Snapshot

• This is a 2×3bd/1.0ba + 1×4bd/1.0ba units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $718/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $150k).
• Cap rate 23.5% 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: 169 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,846/mo this rent would consume 91% of the median local household income ($50k/yr) (locally 841% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $13k of equity ($1k loan paydown + $12k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y 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 $25k; list at $150k implies a 500% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 2.57% ✓
• Cap rate: 23.54%
• Cash-on-cash: 61.59%
• DSCR: 3.74
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $191,380
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
136 Longnecker St	0.24mi	6/2.0	2,705 (-1%)	14mo	$195,000	$72	71
1047 E Lovejoy St	0.19mi	6/2.0	2,640 (-3%)	15mo	$220,000	$83	69
217 Benzinger St	0.09mi	6/2.0	2,508 (-8%)	21mo	$170,000	$68	60
153 Ideal St	0.19mi	6/2.5	2,390 (-13%)	10mo	$141,500	$59	60
965 E Lovejoy St	0.32mi	5/2.0 (-1)	2,696 (-1%)	17mo	$150,000	$56	59
45 N Ogden St	0.48mi	5/3.0 (-1)	2,712 (-1%)	20mo	$223,000	$82	55
1513 Broadway	0.66mi	6/2.0	2,669 (-2%)	9mo	$35,000	$13	54
402 Shanley St	0.75mi	6/2.0	2,748 (+0%)	11mo	$200,000	$73	51
53 Gold St	0.41mi	6/2.0	2,412 (-12%)	11mo	$170,000	$70	48
88 Schutrum St	0.75mi	6/3.0	2,650 (-3%)	16mo	$70,000	$26	47
75 Brownell St	0.68mi	7/3.0 (+1)	2,565 (-6%)	16mo	$81,500	$32	40
365 Wagner Ave	0.62mi	6/2.0	2,408 (-12%)	17mo	$280,000	$116	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

8.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 71.6%
• Equity multiple: 5.75×
• Total profit: $199,483
• Equity at exit: $114,479

10-year hold

• IRR: 67.0%
• Equity multiple: 12.36×
• Total profit: $476,788
• Equity at exit: $227,810

Cash invested: $41,972 (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 14206

• Home prices YoY: 1.8%
• Active inventory: 169
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $3,846 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$36 /mo · $426/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$808
• Net cashflow: $2,154

Break-even live

Break-even rent $1,119

Max offer price $149,900

Occupancy floor 39%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,510
1× unit	4	1	$1,335
Total (3 units)			$3,846

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-18
   days on market $149,900 Active 11 DOM
2. 2026-06-17
   days on market $149,900 Active 10 DOM
3. 2026-06-16
   days on market $149,900 Active 9 DOM
4. 2026-06-15
   days on market $149,900 Active 8 DOM
5. 2026-06-13
   days on market $149,900 Active 6 DOM
6. 2026-06-13
   days on market $149,900 Active 5 DOM
7. 2026-06-10
   days on market $149,900 Active 3 DOM
8. 2026-06-09
   days on market $149,900 Active 2 DOM
9. 2026-06-08
   remarks 681-char remark
10. 2026-06-08
    listed $149,900 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: $426 · $36/mo
• Projected year-2 tax: $1,480 · $123/mo
• Expected delta: +$1,054/yr (+$88/mo · 247.3%)

ⓘ 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 · 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: $46,152
• − Mortgage interest: −$8,397
• − Property taxes: −$426
• − Insurance: −$750
• − Repairs & maintenance: −$3,692
• − Management: −$3,692
• − Depreciation: −$4,361
• Taxable income: $24,835
• Est. tax owed @ 24.0%: −$5,960
• After-tax cash flow: $19,891/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): 21,631
• Household income: $50,450
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 841.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 13% Black 12% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10%
• Common ancestry: Romanian 25% Lithuanian 1% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Arabic 2%

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: ▲ 8.06%
• Current HPI: 457.3935
• Rent YoY: —
• 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

+145.7% since first listed

9 events — show timeline

• 2026-06-07 Listed $149,900 WNYREIS
• 2024-12-15 Listing Removed — WNYREIS
• 2024-10-29 Listed $160,000 WNYREIS
• 2024-10-28 Listing Removed — WNYREIS
• 2024-09-14 Listed $150,000 WNYREIS
• 2024-05-03 Listing Removed — WNYREIS
• 2023-12-04 Listed $160,000 WNYREIS
• 2008-04-04 Sold (Public Records) $25,000 Public Records
• 1995-05-26 Sold (Public Records) $61,000 Public Records

Property tax history

+10.9%/yr

Latest (2025): $426 · +171.5% YoY. Source: county tax records.