251 Springville Ave · Eggertsville, NY 14226

$265,000

4 bd · 2.0 ba · 1,659 sqft · MultiFamily public records · 101 Days on market

Built 1946 4,592 sqft lot $160/sqft · 37% below area Est $422k · 37% under

---

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 +19.9/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +5.9/10.0
• Schools +5.3/10.0
• Rent growth +4.8/5.0
• Livability +4.2/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

The opportunity you’ve been waiting for has arrived! This well-maintained two-unit property is perfect for an investor or an owner-occupant looking to offset their mortgage with strong rental income. Located just minutes from UB South, the rental potential is outstanding, with similar setups bringing in over $700 per room. Both units offer generously sized bedrooms and bathrooms, creating comfortable and highly rentable living spaces. A large garage adds additional value and functionality—perfect for storage, parking, or added tenant appeal. Major mechanicals are already in great shape, with furnaces in excellent condition and hot water tanks just two years old. With only a few cosmetic updates, this property could easily reach its full income-producing potential. Situated in a highly convenient Amherst location with quick access to the city, major highways, shopping, and everyday amenities, this is an opportunity you won’t want to miss. Open House is Sunday 3/22 from 1 to 3.

Key facts

• Two unit property
• Large garage
• Major mechanicals

Tags

• TWO UNIT PROPERTY
• STRONG RENTAL INCOME
• LARGE GARAGE
• MAJOR MECHANICALS
• HIGHLY CONVENIENT LOCATION

🏷️ Possibly a rental listed for sale. The $265,000 price doesn't fit this home's estimated sale value (~$421,683) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $265k.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• Recommended offer: $241k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 4.5% in Eggertsville — 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 85/100 on livability (#34 in NY, #534 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: crime C-, amenities C-.
• Amherst Central School District (suburban): math 53% / reading 68% proficiency, ranked #209 of 590 in NY (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+9.0%/yr); 143 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 41% of the median local income ($84k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $74k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($241k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $71k; list at $265k implies a 273% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $241,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.09% ✓
• Cap rate: 7.75%
• Cash-on-cash: 5.22%
• DSCR: 1.23
• GRM: 7.7

CMA / ARV

• ARV (median comp): $421,683
• List price: $265,000
• Delta: -37.16%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
240 Callodine Ave	0.03mi	4/2.0	1,652 (-0%)	3mo	$285,000	$173	96
236 Callodine Ave	0.03mi	4/2.0	1,604 (-3%)	4mo	$195,000	$122	90
232 Callodine Ave	0.03mi	4/2.0	1,584 (-4%)	5mo	$263,000	$166	87
3906 Bailey Ave	0.31mi	4/2.0	1,695 (+2%)	2mo	$215,000	$127	81
424 Springville Ave	0.33mi	4/2.0	1,568 (-6%)	17mo	$320,000	$204	61
2 Kettering Dr	0.48mi	4/2.0	1,704 (+3%)	20mo	$225,000	$132	57
141 Hawthorne Ave	0.56mi	4/2.0	1,760 (+6%)	18mo	$220,000	$125	49

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -2.4%
• Equity multiple: 0.90×
• Total profit: $-7,070
• Equity at exit: $39,512

10-year hold

• IRR: 12.3%
• Equity multiple: 2.21×
• Total profit: $90,017
• Equity at exit: $22,912

Cash invested: $74,200 (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 14226

• Rents YoY: 9.0%
• Active inventory: 143
• Price-to-rent: 15.3×

Monthly cashflow live

• Estimated rent: $2,879 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$452 /mo · $5,422/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$605
• Net cashflow: $322

Break-even live

Break-even rent $2,471

Max offer price $265,000

Occupancy floor 84%

Sensitivity live

Price	-10% $472	-5% $397	+0% $322	+5% $247	+10% $172
Rent	-10% $95	-5% $209	+0% $322	+5% $436	+10% $550
Rate	-1.0pp $456	-0.5pp $390	base $322	+0.5pp $254	+1.0pp $184

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,880
Total (2 units)			$2,879

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4098 Bailey Ave Buffalo, NY	5.0	2.5	2108	$2,200	$1.04	44d	1	0.11mi
348 Capen Blvd Buffalo, NY	3.0	1.5	1424	$2,200	$1.54	2d	1	0.26mi
91 Springville Ave Buffalo, NY	4.0	2.0	1660	$2,350	$1.42	24d	1	0.33mi
524 University Ave Buffalo, NY	3.0	1.0	1840	$1,600	$0.87	2d	1	0.63mi
63 Montrose Ave Buffalo, NY	4.0	1.0	2240	$2,000	$0.89	2d	1	0.89mi
60 Englewood Ave Buffalo, NY	4.0	1.0	1400	$1,650	$1.18	2d	1	0.98mi
33 Tillotson Pl Buffalo, NY	3.0	1.0	1143	$2,095	$1.83	15d	1	1.09mi
212 Dellwood Rd Buffalo, NY	4.0	4.0	1209	$3,400	$2.81	2d	2	1.15mi
151 Lamson Rd Buffalo, NY	4.0	2.0	1382	$2,350	$1.70	18d	1	1.18mi
65 Northrup Pl Buffalo, NY	5.0	2.0	1467	$2,500	$1.70	15d	1	1.20mi
69 Berryman Dr Buffalo, NY	4.0	1.5	2056	$2,950	$1.43	2d	1	1.23mi
85 Highgate Ave Buffalo, NY	5.0	2.0	2193	$3,750	$1.71	15d	1	1.27mi
222 Lisbon Ave Buffalo, NY	4.0	1.0	1300	$1,400	$1.08	24d	1	1.28mi
222 Lisbon Ave Unit Upper Buffalo, NY	3.0	1.0	1400	$1,400	$1.00	44d	1	1.28mi
265 Lisbon Ave Unit 2 Buffalo, NY	3.0	1.0	1200	$1,400	$1.17	44d	1	1.31mi
175 Lisbon Ave Buffalo, NY	5.0	2.0	2000	$2,500	$1.25	15d	1	1.32mi
263 Minnesota Ave Unit Upper Buffalo, NY	3.0	1.0	1242	$1,500	$1.21	15d	1	1.38mi
182 Woodcrest Dr Amherst, NY	3.0	1.5	1380	$2,300	$1.67	20d	1	1.44mi
163 Carmel Rd Buffalo, NY	3.0	1.0	1400	$1,800	$1.29	3d	1	1.45mi

Listing history 18 events

1. 2026-06-18
   days on market $265,000 Active 101 DOM
2. 2026-06-17
   days on market $265,000 Active 100 DOM
3. 2026-06-16
   days on market $265,000 Active 99 DOM
4. 2026-06-15
   days on market $265,000 Active 98 DOM
5. 2026-06-13
   days on market $265,000 Active 96 DOM
6. 2026-06-13
   pricedays on market $265,000 Active 95 DOM
7. 2026-06-10
   days on market $279,999 Active 93 DOM
8. 2026-06-09
   days on market $279,999 Active 92 DOM
9. 2026-06-08
   days on market $279,999 Active 91 DOM
10. 2026-06-07
    days on market $279,999 Active 90 DOM
11. 2026-06-05
    days on market $279,999 Active 87 DOM
12. 2026-06-03
    days on market $279,999 Active 86 DOM
13. 2026-06-02
    days on market $279,999 Active 85 DOM
14. 2026-06-01
    days on market $279,999 Active 84 DOM
15. 2026-05-31
    days on market $279,999 Active 83 DOM
16. 2026-05-16
    price $279,999 1008-char remark

    Show marketing remark (1008 chars)

    The opportunity you’ve been waiting for has arrived! This well-maintained two-unit property is perfect for an investor or an owner-occupant looking to offset their mortgage with strong rental income. Located just minutes from UB South, the rental potential is outstanding, with similar setups bringing in over $700 per room. Both units offer generously sized bedrooms and bathrooms, creating comfortable and highly rentable living spaces. A large garage adds additional value and functionality—perfect for storage, parking, or added tenant appeal. Major mechanicals are already in great shape, with furnaces in excellent condition and hot water tanks just two years old. With only a few cosmetic updates, this property could easily reach its full income-producing potential. Situated in a highly convenient Amherst location with quick access to the city, major highways, shopping, and everyday amenities, this is an opportunity you won’t want to miss. Open House is Sunday 3/22 from 1 to 3.

17. 2026-03-09
    listed $289,999 Active 1008-char remark

    Show marketing remark (1008 chars)

    The opportunity you’ve been waiting for has arrived! This well-maintained two-unit property is perfect for an investor or an owner-occupant looking to offset their mortgage with strong rental income. Located just minutes from UB South, the rental potential is outstanding, with similar setups bringing in over $700 per room. Both units offer generously sized bedrooms and bathrooms, creating comfortable and highly rentable living spaces. A large garage adds additional value and functionality—perfect for storage, parking, or added tenant appeal. Major mechanicals are already in great shape, with furnaces in excellent condition and hot water tanks just two years old. With only a few cosmetic updates, this property could easily reach its full income-producing potential. Situated in a highly convenient Amherst location with quick access to the city, major highways, shopping, and everyday amenities, this is an opportunity you won’t want to miss. Open House is Sunday 3/22 from 1 to 3.

18. 2009-04-08
    soldstatus $71,000

ⓘ 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: $5,422 · $452/mo
• Projected year-2 tax: $5,422 · $452/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $34,548
• − Mortgage interest: −$14,844
• − Property taxes: −$5,422
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,764
• − Management: −$2,764
• − Depreciation: −$7,709
• Taxable loss: −$280
• Est. tax savings @ 24.0%: +$67
• After-tax cash flow: $3,937/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: Amherst Central School District
• NCES district ID: 3602920
• Math proficiency: 53% ▼ -16.00%
• Reading proficiency: 68% ▲ 4.00%
• Median HH income: $68,551
• Composite: 53.21/100
• National rank: #1502
• State rank: #209 of 590 in NY

Livability — Eggertsville

• Score: 85/100
• State rank: #34
• US rank: #534

Category grades

Amenities C- Commute A+ Cost of living B Crime C- Employment A Housing A+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eggertsville, NY
• County: Erie County · 714,559 people
• City population: 29,482
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 29,159
• Household income: $84,325
• Rent vs Own: 29.0% rent · 71.0% own
• Severe rent burden: 856.0

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 10% Asian 7% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Romanian 7% Lithuanian 2% Slovak 1%
• Foreign-born: 13% · Canada, China, India
• Languages at home: 87% English-only · Other Indo-European 4% Spanish 2% Arabic 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: ▼ -270.71%
• Current HPI: 331.1929
• Rent YoY: ▲ 9.01%
• 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

+294.4% since first listed

3 events — show timeline

• 2026-05-16 Price Changed $279,999 WNYREIS
• 2026-03-09 Listed $289,999 WNYREIS
• 2009-04-08 Sold (Public Records) $71,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $5,422 · +8.1% YoY. Source: county tax records.