114 Whitney Pl · Buffalo, NY 14201

$324,900

3 bd · 2.0 ba · 2,452 sqft · MultiFamily public records · 1 Days on market

Built 1900 3,200 sqft lot Est $365k · 11% under

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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 +22.6/30.0
• ARV discount +12.5/15.0
• DSCR +7.3/10.0
• 1% rule +4.7/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• 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: 2 units. confirmed

Listing remarks MLS

114 Whitney Place, a fantastic turn-key opportunity in the heart of the Lower West Side. Set in one of the most central locations in Buffalo, this 3/2, 2-family home features spacious units, 10-ft ceilings, complete with tastefully renovated kitchens and baths. Updated windows and flooring throughout, and newer central air. Front porch with back patio and fully fenced yard. Off-street parking, common entry, and in-unit laundry for both upper and lower. Brand new furnace for lower, with separate utilities to allow flexibility for owner occupancy or as an income-generating investment. All updated appliances and furnishings to stay, if desired. Minutes to D'Youville, Buffalo State, and all Elmwood, Allentown, downtown and west side amenities.

Key facts

• In-unit laundry
• Newer mechanics
• Updated kitchens

Tags

• TWO-FAMILY PROPERTY
• HISTORIC LOWER WEST SIDE
• UPDATED KITCHENS
• IN-UNIT LAUNDRY
• NEWER MECHANICS
• ROOF IN EXCELLENT CONDITION

Property features AI

Finance

• Other: Owner/rent responsibilities: see remarks
• Financial info: Multi-unit property with 2 total units; Two separate gas meters; Two separate electric meters; Operating expense details: see remarks
• HOA & community: Not specified

Exterior

• Parking: Two or more parking spaces
• Security: Not specified
• Utilities: Public water connected; Sewer connected; Circuit breaker electric service
• Home design: 2-story property; Resale condition
• Construction: Vinyl siding; Shingle roof; Partial basement
• Exterior features: Balcony; Patio; Fully fenced yard; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas water heater (appliance listed)
• Bedrooms: Not specified
• Flooring: Hardwood; Laminate; Tile; Varies
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas forced air heating; Central air conditioning
• Interior features: Leaded glass windows; Natural woodwork
• Laundry & utility: Not specified

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $556 ($7k/yr) — positive. Per door: $278/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $314k (3.5% below list).
• Recommended offer: $314k (3.5% below list) — sets the bar for 1% rule.

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 (+4.3%/yr); 56 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 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 $3,136/mo this rent would consume 93% of the median local household income ($41k/yr) (locally 1213% 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 10y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $313,600 (3.5% below list)

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 1900 — 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: 0.97% ✗
• Cap rate: 8.35%
• Cash-on-cash: 7.33%
• DSCR: 1.33
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $365,348
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 10th St	0.14mi	3/3.0	2,450 (-0%)	23mo	$331,000	$135	71
302 Virginia St	0.17mi	4/3.0 (+1)	2,616 (+7%)	6mo	$315,000	$120	67
58 Cottage St	0.26mi	4/3.0 (+1)	2,467 (+1%)	22mo	$542,000	$220	59
155 Allen St	0.52mi	4/3.0 (+1)	2,488 (+2%)	9mo	$385,000	$155	57
153 Allen St	0.53mi	4/3.0 (+1)	2,374 (-3%)	9mo	$395,000	$166	53
389 Jersey St	0.66mi	4/2.0 (+1)	2,371 (-3%)	13mo	$250,000	$105	48
404 Jersey St	0.69mi	4/2.5 (+1)	2,640 (+8%)	6mo	$392,500	$149	43
403 Busti Ave	0.43mi	4/2.0 (+1)	2,132 (-13%)	12mo	$99,000	$46	43
147 Mariner St	0.55mi	4/3.0 (+1)	2,098 (-14%)	4mo	$365,000	$174	38
469 Prospect Ave	0.59mi	4/2.0 (+1)	2,234 (-9%)	18mo	$205,000	$92	38

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 · 4.28% rent growth · sell at horizon

5-year hold

• IRR: -3.9%
• Equity multiple: 0.85×
• Total profit: $-13,299
• Equity at exit: $48,444

10-year hold

• IRR: 7.0%
• Equity multiple: 1.56×
• Total profit: $50,627
• Equity at exit: $28,091

Cash invested: $90,972 (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 14201

• Home prices YoY: -19.1%
• Rents YoY: 4.3%
• Active inventory: 56
• Price-to-rent: 17.3×

Monthly cashflow live

• Estimated rent: $3,136 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$82 /mo · $987/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$659
• Net cashflow: $556

Break-even live

Break-even rent $2,432

Max offer price $324,900

Occupancy floor 77%

Sensitivity live

Price	-10% $740	-5% $648	+0% $556	+5% $464	+10% $372
Rent	-10% $308	-5% $432	+0% $556	+5% $680	+10% $804
Rate	-1.0pp $720	-0.5pp $639	base $556	+0.5pp $472	+1.0pp $386

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,136
Total (2 units)			$3,136

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: $81,225
• Closing costs: $9,747
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
385 Seventh St Unit Lower Buffalo, NY	2.0	1.0	2136	$1,250	$0.59	44d	1	0.36mi
550 Busti Ave Unit 2 Buffalo, NY	3.0	1.0	1638	$1,500	$0.92	44d	1	0.70mi
465 Washington St Buffalo, NY	1.0–2.0	1.0–2.0	1388	$2,285	$1.65	3d	5	0.70mi
124 Normal Ave Unit 2 Buffalo, NY	3.0	1.0	1727	$2,000	$1.16	24d	1	0.72mi
11 Ojibwa Cir Buffalo, NY	2.0	2.5	2325	$4,250	$1.83	24d	1	0.76mi
157 14th St Unit Upper front Buffalo, NY	2.0	1.0	2924	$1,200	$0.41	4d	1	0.81mi
184 14th St Buffalo, NY	4.0	2.0	1950	$4,400	$2.26	24d	1	0.85mi
298 Main St Buffalo, NY	2.0	2.0	1768	$3,400	$1.92	3d	1	0.87mi
501 West Ave Buffalo, NY	3.0	1.0	2552	$1,850	$0.72	20d	1	0.90mi
501 West Ave Buffalo, NY	3.0	1.0	2552	$1,700	$0.67	15d	1	0.90mi
237 Main St Buffalo, NY	1.0–3.0	1.5–2.5	1608	$4,035	$2.51	2d	9	0.96mi
330 Bryant St Buffalo, NY	3.0	2.0	2224	$2,200	$0.99	20d	1	1.03mi
318 14th St Buffalo, NY	2.0	1.0	1619	$1,300	$0.80	12d	1	1.09mi
451 Elmwood Ave Buffalo, NY	2.0	1.0	1633	$3,305	$2.02	44d	1	1.10mi
405 W Ferry St Unit Lower Buffalo, NY	3.0	1.0	2480	$1,500	$0.60	44d	1	1.48mi

Listing history 2 events

1. 2026-06-17
   remarks 693-char remark
2. 2026-06-17
   listed $324,900 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: $987 · $82/mo
• Projected year-2 tax: $3,239 · $270/mo
• Expected delta: +$2,252/yr (+$188/mo · 228.0%)

ⓘ 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 ≥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: $37,632
• − Mortgage interest: −$18,199
• − Property taxes: −$987
• − Insurance: −$1,624
• − Repairs & maintenance: −$3,011
• − Management: −$3,011
• − Depreciation: −$9,452
• Taxable income: $1,348
• Est. tax owed @ 24.0%: −$323
• After-tax cash flow: $6,348/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): 12,369
• Household income: $40,512
• Rent vs Own: 76.4% rent · 23.6% own
• Severe rent burden: 1213.0

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 0.66)
• Race & ethnicity: White 42% Hispanic / Latino 36% Black 16% Two or more races 12% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 30% Dominican 1%
• Common ancestry: Romanian 7% Subsaharan African 2% Slovak 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 69% English-only · Spanish 24% Arabic 2% Other Indo-European 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: ▼ -68.73%
• Current HPI: 290.2643
• Rent YoY: ▲ 4.28%
• 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

+20.4% since first listed

19 events — show timeline

• 2026-06-17 Listed $324,900 WNYREIS
• 2025-04-30 Sold (Public Records) $320,000 Public Records
• 2025-04-25 Sold (MLS) $320,000 WNYREIS
• 2025-04-08 Pending — WNYREIS
• 2025-04-08 Relisted — WNYREIS
• 2025-02-12 Listing Removed — WNYREIS
• 2025-02-03 Price Changed $324,000 WNYREIS
• 2024-12-11 Relisted — WNYREIS
• 2024-11-27 Pending — WNYREIS
• 2024-10-30 Listed $330,000 WNYREIS
• 2022-06-02 Sold (MLS) $290,000 WNYREIS
• 2022-06-01 Sold (Public Records) $290,000 Public Records
• 2022-04-11 Pending — WNYREIS
• 2022-03-24 Pending — WNYREIS
• 2022-03-14 Listed $289,900 WNYREIS
• 2017-01-10 Sold (Public Records) $252,000 Public Records
• 2017-01-10 Sold (MLS) $252,000 WNYREIS
• 2016-11-18 Pending — WNYREIS
• 2016-10-19 Listed $269,900 WNYREIS

Property tax history

+18.5%/yr

Latest (2025): $987 · -32.0% YoY. Source: county tax records.