449 7th St · Buffalo, NY 14201

$85,000

5 bd · 2.0 ba · 2,150 sqft · MultiFamily public records · 38 Days on market

Built 1900 1,887 sqft lot $40/sqft · 71% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Multi-family property offering strong value-add potential in Buffalo’s West Side market. Property features approximately 2,150 sq ft with 5 bedrooms and 2 bathrooms. Ideal for investors or owner-occupants. Convenient location close to downtown, D’Youville University, and redevelopment areas.

Key facts

• 1,887 sq ft lot
• Built 1900
• Listed 38 days

Property features AI

Finance

• Other: Two total residential units; Separate gas and electric meters for each unit
• Financial info: Tenant pays all utilities; Operating expenses include trash and utilities

Exterior

• Parking: On-street parking
• Utilities: Public water connected; Sewer connected; Circuit breaker electrical service
• Home design: 2-story building; Existing (pre-owned) property
• Construction: Vinyl siding
• Exterior features: Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Eat-in kitchen in one unit; Formal dining room in both units
• Bedrooms: One unit with 2 bedrooms; One unit with 3 bedrooms
• Flooring: Hardwood; Varies
• Bathrooms: Two full bathrooms total (one full bathroom in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood and varied flooring throughout; Other interior features (see remarks)
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $85k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 32.4% 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: Rents rising fast (+4.3%/yr); 56 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $3,002/mo this rent would consume 89% 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 $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 3.53% ✓
• Cap rate: 32.44%
• Cash-on-cash: 93.38%
• DSCR: 5.15
• GRM: 2.4

CMA / ARV

• ARV (median comp): $297,328
• List price: $85,000
• Delta: -71.41%
• 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
250 West Ave	0.26mi	6/2.0 (+1)	2,230 (+4%)	4mo	$375,000	$168	74
651 Prospect Ave	0.52mi	5/2.0	2,026 (-6%)	9mo	$278,500	$137	59
375 Plymouth Ave	0.71mi	4/2.0 (-1)	2,121 (-1%)	4mo	$265,000	$125	56
33 Lakeview Ave	0.16mi	6/3.0 (+1)	2,409 (+12%)	11mo	$136,000	$56	54
147 Mariner St	0.66mi	4/3.0 (-1)	2,098 (-2%)	4mo	$365,000	$174	53
125 Whitney Pl	0.45mi	4/3.0 (-1)	1,976 (-8%)	6mo	$310,000	$157	51
9 West Ave	0.56mi	4/2.0 (-1)	1,980 (-8%)	6mo	$390,000	$197	50
729 Prospect Ave	0.67mi	5/3.0	2,049 (-5%)	12mo	$330,000	$161	47
411 Summer St	0.64mi	4/2.0 (-1)	2,308 (+7%)	12mo	$357,500	$155	43
207 Rhode Island St	0.73mi	5/2.0	2,436 (+13%)	2mo	$295,500	$121	42
383 Summer St	0.63mi	5/2.0	2,468 (+15%)	6mo	$492,000	$199	41
153 Allen St	0.73mi	4/3.0 (-1)	2,374 (+10%)	9mo	$395,000	$166	32

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: 95.6%
• Equity multiple: 5.54×
• Total profit: $108,098
• Equity at exit: $12,674

10-year hold

• IRR: 98.6%
• Equity multiple: 12.03×
• Total profit: $262,522
• Equity at exit: $7,349

Cash invested: $23,800 (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 14201

• Home prices YoY: -19.1%
• Rents YoY: 4.3%
• Active inventory: 56
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $3,002 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$39 /mo · $466/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$631
• Net cashflow: $1,852

Break-even live

Break-even rent $658

Max offer price $85,000

Occupancy floor 33%

Sensitivity live

Price	-10% $1,900	-5% $1,876	+0% $1,852	+5% $1,828	+10% $1,804
Rent	-10% $1,615	-5% $1,733	+0% $1,852	+5% $1,971	+10% $2,089
Rate	-1.0pp $1,895	-0.5pp $1,874	base $1,852	+0.5pp $1,830	+1.0pp $1,808

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
184 14th St Buffalo, NY	4.0	2.0	1950	$4,400	$2.26	24d	1	0.63mi
11 Hoyt St Buffalo, NY	4.0	1.0	2848	$1,775	$0.62	15d	1	1.31mi
40 Putnam St Buffalo, NY	4.0	1.0	1600	$2,100	$1.31	24d	1	1.48mi

Listing history 17 events

1. 2026-06-18
   days on market $85,000 Active 38 DOM
2. 2026-06-17
   days on market $85,000 Active 37 DOM
3. 2026-06-16
   days on market $85,000 Active 36 DOM
4. 2026-06-15
   days on market $85,000 Active 35 DOM
5. 2026-06-13
   pricedays on market $85,000 Active 33 DOM
6. 2026-06-13
   days on market $100,000 Active 32 DOM
7. 2026-06-10
   days on market $100,000 Active 30 DOM
8. 2026-06-09
   days on market $100,000 Active 29 DOM
9. 2026-06-08
   days on market $100,000 Active 28 DOM
10. 2026-06-07
    days on market $100,000 Active 27 DOM
11. 2026-06-03
    days on market $100,000 Active 23 DOM
12. 2026-06-02
    days on market $100,000 Active 22 DOM
13. 2026-06-01
    days on market $100,000 Active 21 DOM
14. 2026-05-31
    days on market $100,000 Active 20 DOM
15. 2026-05-10
    listed $100,000 Active 304-char remark
16. 2010-06-21
    soldstatus $85,000
17. 2008-07-07
    soldstatus $15,000

ⓘ 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: $466 · $39/mo
• Projected year-2 tax: $951 · $79/mo
• Expected delta: +$485/yr (+$40/mo · 104.3%)

ⓘ 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 ≥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: $36,029
• − Mortgage interest: −$4,761
• − Property taxes: −$466
• − Insurance: −$425
• − Repairs & maintenance: −$2,882
• − Management: −$2,882
• − Depreciation: −$2,473
• Taxable income: $22,140
• Est. tax owed @ 24.0%: −$5,314
• After-tax cash flow: $16,910/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

+466.7% since first listed

4 events — show timeline

• 2026-06-13 Price Changed $85,000 UNYREIS
• 2026-05-10 Listed $100,000 UNYREIS
• 2010-06-21 Sold (Public Records) $85,000 Public Records
• 2008-07-07 Sold (Public Records) $15,000 Public Records

Property tax history

+12.0%/yr

Latest (2025): $466 · -16.9% YoY. Source: county tax records.