375 Olympic Ave · Buffalo, NY 14215

$170,000

4 bd · 1.0 ba · 1,270 sqft · SingleFamily public records · 151 Days on market

Built 1927 3,560 sqft lot $134/sqft · at area comps Est $162k · at est.

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Why this score? — see what drove the D 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 +15.5/30.0
• ARV discount +5.3/15.0
• DSCR +4.8/10.0
• 1% rule +4.3/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is ready for you to move in! Home features, 2 bedrooms in lower and 2 in upper, updated kitchen, freshly painted, new roof 2017, furnace and hot water tank 2016, dishwasher, updated bathroom and many other amenities. Don't miss this great home. Showings begin immediately with offers if any, due on Friday, June 4, 2021 at 12:00 p. m.

Key facts

• 3,560 sq ft lot
• Built 1927
• Listed 151 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $69 ($830/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $157k (7.4% below list).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.

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.
• Zoned schools: International School (math 8% / reading 17%, grade F, #2,048 of 2,108 statewide, top 97%, 981 students, 92% FRL); Hutchinson Central Technical High School (math 96% / reading 32%, grade B-, #807 of 1,100 statewide, top 73%, 1,175 students, 78% FRL).
• Market conditions: Rents flat; 239 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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).
• This rent runs 42% of the median local income ($45k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask is 99900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $126k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 151 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — 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. 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.93% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.74%
• DSCR: 1.08
• GRM: 9.0

CMA / ARV

• ARV (median comp): $162,175
• List price: $170,000
• Delta: 4.83%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37 Elmer Ave	0.29mi	4/1.0	1,327 (+4%)	0mo	$170,000	$128	79
59 Martha Ave	0.36mi	3/1.0 (-1)	1,282 (+1%)	1mo	$149,000	$116	76
212 Easton Ave	0.71mi	4/1.0	1,248 (-2%)	3mo	$220,000	$176	61
153 Stockbridge Ave	0.62mi	3/1.0 (-1)	1,248 (-2%)	3mo	$150,000	$120	60
496 Berkshire Ave	0.73mi	3/1.0 (-1)	1,266 (-0%)	1mo	$125,000	$99	60
190 Victoria Ave	0.73mi	4/1.5	1,305 (+3%)	0mo	$200,000	$153	59
157 Roosevelt Ave	0.54mi	4/2.0	1,394 (+10%)	4mo	$200,000	$143	52
461 Stockbridge Ave	0.72mi	3/1.0 (-1)	1,336 (+5%)	4mo	$96,500	$72	50
213 Phyllis Ave	0.67mi	3/1.5 (-1)	1,341 (+6%)	5mo	$217,500	$162	48
14 Thornton Ave	0.48mi	4/2.0	1,445 (+14%)	4mo	$239,900	$166	47
99 Fennimore Ave	0.65mi	3/1.0 (-1)	1,100 (-13%)	3mo	$115,000	$105	40
223 Phyllis Ave	0.69mi	3/1.0 (-1)	1,082 (-15%)	0mo	$68,500	$63	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 · 0.67% rent growth · sell at horizon

5-year hold

• IRR: -16.2%
• Equity multiple: 0.44×
• Total profit: $-26,726
• Equity at exit: $25,348

10-year hold

• IRR: -12.6%
• Equity multiple: 0.34×
• Total profit: $-31,633
• Equity at exit: $14,698

Cash invested: $47,600 (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 14215

• Home prices YoY: -30.0%
• Rents YoY: 0.7%
• Active inventory: 239
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,575 high
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,550/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $69

Break-even live

Break-even rent $1,487

Max offer price $170,000

Occupancy floor 91%

Sensitivity live

Price	-10% $187	-5% $128	+0% $69	+5% $10	+10% $-48
Rent	-10% $-55	-5% $7	+0% $69	+5% $131	+10% $194
Rate	-1.0pp $155	-0.5pp $112	base $69	+0.5pp $25	+1.0pp $-20

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
140 Parkridge Ave Buffalo, NY	3.0	1.0	990	$1,500	$1.52	45d	1	0.44mi
74 Dorris Ave Buffalo, NY	3.0	1.0	1200	$1,450	$1.21	45d	1	0.47mi
97 Davidson Ave Buffalo, NY	3.0	1.0	925	$1,495	$1.62	3d	1	0.50mi
189 Westminster Ave Buffalo, NY	4.0	1.5	1065	$1,595	$1.50	12d	1	0.79mi
263 Minnesota Ave Unit Upper Buffalo, NY	3.0	1.0	1242	$1,500	$1.21	16d	1	0.92mi
265 Lisbon Ave Unit 2 Buffalo, NY	3.0	1.0	1200	$1,400	$1.17	45d	1	0.98mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,997	$2.93	3d	10	1.00mi
222 Lisbon Ave Buffalo, NY	4.0	1.0	1300	$1,400	$1.08	25d	1	1.03mi
222 Lisbon Ave Unit Upper Buffalo, NY	3.0	1.0	1400	$1,400	$1.00	45d	1	1.03mi
65 Northrup Pl Buffalo, NY	5.0	2.0	1467	$2,500	$1.70	16d	1	1.19mi
85 Blake St Unit 1 Buffalo, NY	4.0	2.0	1022	$1,000	$0.98	45d	1	1.22mi
76 Vernon Pl Unit Upper Buffalo, NY	3.0	1.0	1190	$1,595	$1.34	16d	1	1.29mi
76 Vernon Pl Unit Lower Buffalo, NY	3.0	1.0	1190	$1,445	$1.21	16d	1	1.29mi
65 Domedion Ave Buffalo, NY	3.0	1.0	1632	$1,500	$0.92	3d	1	1.48mi
60 Englewood Ave Buffalo, NY	4.0	1.0	1400	$1,650	$1.18	3d	1	1.49mi

Listing history 8 events

1. 2025-12-26
   price $170,000
2. 2025-12-24
   listed $170 Active
3. 2021-08-12
   soldstatus $125,500
4. 2021-08-11
   soldstatus $125,500 Closed Sale or Rented 345-char remark

   Show marketing remark (345 chars)

   This home is ready for you to move in! Home features, 2 bedrooms in lower and 2 in upper, updated kitchen, freshly painted, new roof 2017, furnace and hot water tank 2016, dishwasher, updated bathroom and many other amenities. Don't miss this great home. Showings begin immediately with offers if any, due on Friday, June 4, 2021 at 12:00 p. m.

5. 2021-06-22
   status Pending Sale 345-char remark

   Show marketing remark (345 chars)

   This home is ready for you to move in! Home features, 2 bedrooms in lower and 2 in upper, updated kitchen, freshly painted, new roof 2017, furnace and hot water tank 2016, dishwasher, updated bathroom and many other amenities. Don't miss this great home. Showings begin immediately with offers if any, due on Friday, June 4, 2021 at 12:00 p. m.

6. 2021-06-07
   status Under Contract- Do Not Show 345-char remark

   Show marketing remark (345 chars)

   This home is ready for you to move in! Home features, 2 bedrooms in lower and 2 in upper, updated kitchen, freshly painted, new roof 2017, furnace and hot water tank 2016, dishwasher, updated bathroom and many other amenities. Don't miss this great home. Showings begin immediately with offers if any, due on Friday, June 4, 2021 at 12:00 p. m.

7. 2021-05-29
   listed $89,900 Active 345-char remark

   Show marketing remark (345 chars)

   This home is ready for you to move in! Home features, 2 bedrooms in lower and 2 in upper, updated kitchen, freshly painted, new roof 2017, furnace and hot water tank 2016, dishwasher, updated bathroom and many other amenities. Don't miss this great home. Showings begin immediately with offers if any, due on Friday, June 4, 2021 at 12:00 p. m.

8. 1997-07-01
   soldstatus $22,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥93°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: $18,896
• − Mortgage interest: −$9,523
• − Property taxes: −$2,550
• − Insurance: −$850
• − Repairs & maintenance: −$1,512
• − Management: −$1,512
• − Depreciation: −$4,945
• Taxable loss: −$1,995
• Est. tax savings @ 24.0%: +$479
• After-tax cash flow: $1,309/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): 42,524
• Household income: $44,955
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 2873.0

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 Black (67%)
• Race & ethnicity: Black 67% White 15% Asian 7% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada, China
• Languages at home: 88% English-only · Other Indo-European 4% Spanish 4% Chinese 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: ▼ -126.29%
• Current HPI: 295.2966
• Rent YoY: ▲ 0.67%
• 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

+672.7% since first listed

8 events — show timeline

• 2025-12-26 Price Changed $170,000 WNYREIS
• 2025-12-24 Listed $170 WNYREIS
• 2021-08-12 Sold (Public Records) $125,500 Public Records
• 2021-08-11 Sold (MLS) $125,500 WNYREIS
• 2021-06-22 Pending — WNYREIS
• 2021-06-07 Pending — WNYREIS
• 2021-05-29 Listed $89,900 WNYREIS
• 1997-07-01 Sold (Public Records) $22,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $235 · +0.0% YoY. Source: county tax records.