65 Woodside Ave · Buffalo, NY 14220

$173,000

6 bd · 2.0 ba · 2,112 sqft · MultiFamily public records · 23 Days on market

Built 1915 3,712 sqft lot Est $222k · 22% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.4/5.0
• Livability +3.9/5.0
• 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

Very spacious and well maintained 2-unit with 3 bedrooms, living room, dining room, full bath and eat-in kitchen in each. Large covered front porch and fenced yard. Many updates. Great Income Property.

Key facts

• Solid construction
• Cosmetic updates
• 3,712 sq ft lot

Tags

• 2 FAMILY CASH FLOW OPPORTUNITY
• CLASSIC SOUTH BUFFALO DUPLEX
• IMMEDIATE RENTAL INCOME
• STRONG VALUE ADD POTENTIAL
• SOLID CONSTRUCTION
• COSMETIC UPDATES

Property features AI

Finance

• Other: Two total residential units (multifamily); Two units in the community; Two separate gas meters and two separate electric meters
• Financial info: Water is paid/managed by owner; rent includes water; Operating expenses for multi-unit include water/sewer

Exterior

• Parking: No driveway (street parking likely)
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Resale property; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Rectangular residential lot with 32 x 116 dimensions; City street frontage; No driveway

Interior

• Kitchen: Gas water heater (appliance/utility listed)
• Bedrooms: 2-unit property (unit-level bedroom counts not provided)
• Flooring: Vinyl flooring; Mixed/varies in other areas
• Bathrooms: Two full bathrooms (total)
• Heating & cooling: Gas forced-air heating
• Interior features: Finished basement; Vinyl and varied flooring throughout
• Laundry & utility: Separate gas meters for each unit (2 total); Separate electric meters for each unit (2 total)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $173k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $617/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $173k).
• Recommended offer: $170k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.9% 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 (+7.6%/yr); 136 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,863/mo this rent would consume 48% of the median local household income ($71k/yr) (locally 602% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.6% rent growth), your $48k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $170,405 (1.5% 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 1915 — 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: 1.65% ✓
• Cap rate: 14.85%
• Cash-on-cash: 30.58%
• DSCR: 2.36
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $221,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
169 Altruria St	0.23mi	5/2.0 (-1)	1,958 (-7%)	8mo	$241,000	$123	66
204 Woodside Ave	0.27mi	6/2.0	2,332 (+10%)	10mo	$280,000	$120	62
69 Red Jacket Pkwy	0.54mi	6/2.0	2,032 (-4%)	10mo	$229,000	$113	60
22 Bloomfield Ave	0.27mi	6/2.0	1,806 (-14%)	8mo	$180,000	$100	57
137 Lockwood Ave	0.34mi	5/2.0 (-1)	1,936 (-8%)	13mo	$204,000	$105	54
1726 S Park Ave	0.71mi	6/2.0	2,232 (+6%)	6mo	$77,500	$35	53
147 Trowbridge St	0.72mi	6/2.0	2,024 (-4%)	9mo	$138,000	$68	52
110 Trowbridge St	0.75mi	6/2.0	2,264 (+7%)	4mo	$180,000	$80	50
32 Magnolia Ave	0.57mi	6/2.0	2,376 (+12%)	5mo	$225,000	$95	48
140 Aldrich Pl	0.62mi	5/2.0 (-1)	2,300 (+9%)	8mo	$260,000	$113	45
48 Payne Ave	0.70mi	6/2.0	2,308 (+9%)	9mo	$232,500	$101	45
389 Cumberland Ave	0.74mi	5/2.0 (-1)	2,328 (+10%)	5mo	$280,000	$120	39

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 · 7.62% rent growth · sell at horizon

5-year hold

• IRR: 30.1%
• Equity multiple: 2.33×
• Total profit: $64,451
• Equity at exit: $25,795

10-year hold

• IRR: 39.7%
• Equity multiple: 5.54×
• Total profit: $219,996
• Equity at exit: $14,958

Cash invested: $48,440 (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 14220

• Home prices YoY: -26.7%
• Rents YoY: 7.6%
• Active inventory: 136
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,863 high
• Mortgage (P&I): −$907
• Tax from tax record: −$48 /mo · $577/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$601
• Net cashflow: $1,234

Break-even live

Break-even rent $1,301

Max offer price $173,000

Occupancy floor 52%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,862
Total (2 units)			$2,863

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: $43,250
• Closing costs: $5,190
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $173,000 Active 23 DOM
2. 2026-06-17
   days on market $173,000 Active 22 DOM
3. 2026-06-16
   days on market $173,000 Active 21 DOM
4. 2026-06-15
   days on market $173,000 Active 20 DOM
5. 2026-06-13
   days on market $173,000 Active 18 DOM
6. 2026-06-13
   pricedays on market $173,000 Active 17 DOM
7. 2026-06-10
   pricedays on market $177,000 Active 15 DOM
8. 2026-06-09
   days on market $180,000 Active 14 DOM
9. 2026-06-08
   days on market $180,000 Active 13 DOM
10. 2026-06-07
    days on market $180,000 Active 12 DOM
11. 2026-06-03
    days on market $180,000 Active 8 DOM
12. 2026-06-02
    days on market $180,000 Active 7 DOM
13. 2026-06-01
    days on market $180,000 Active 6 DOM
14. 2026-05-31
    days on market $180,000 Active 5 DOM
15. 2026-05-26
    listed $180,000 Active
16. 2021-09-21
    soldstatus $871,428
17. 2020-11-11
    historical
18. 2020-09-21
    status Active
19. 2020-09-14
    status Under Contract- Do Not Show
20. 2020-07-20
    listed $145,000 Active
21. 2013-09-20
    soldstatus $57,000 201-char remark

    Show marketing remark (201 chars)

    Very spacious and well maintained 2-unit with 3 bedrooms, living room, dining room, full bath and eat-in kitchen in each. Large covered front porch and fenced yard. Many updates. Great Income Property.

22. 2013-09-20
    soldstatus $57,000

    Show marketing remark (201 chars)

    Very spacious and well maintained 2-unit with 3 bedrooms, living room, dining room, full bath and eat-in kitchen in each. Large covered front porch and fenced yard. Many updates. Great Income Property.

23. 2013-06-05
    listed $69,900 201-char remark

    Show marketing remark (201 chars)

    Very spacious and well maintained 2-unit with 3 bedrooms, living room, dining room, full bath and eat-in kitchen in each. Large covered front porch and fenced yard. Many updates. Great Income Property.

ⓘ 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: $577 · $48/mo
• Projected year-2 tax: $1,750 · $146/mo
• Expected delta: +$1,173/yr (+$98/mo · 203.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 65% 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 4/10 Moderate 3 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,356
• − Mortgage interest: −$9,691
• − Property taxes: −$577
• − Insurance: −$865
• − Repairs & maintenance: −$2,748
• − Management: −$2,748
• − Depreciation: −$5,033
• Taxable income: $12,693
• Est. tax owed @ 24.0%: −$3,046
• After-tax cash flow: $11,766/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): 24,428
• Household income: $70,963
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 602.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 6% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 10% Cuban 1%
• Common ancestry: Romanian 16% Lithuanian 1% Subsaharan African 1%
• Foreign-born: 4% · Canada, Jamaica, China
• Languages at home: 90% English-only · 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: ▼ -146.29%
• Current HPI: 402.5053
• Rent YoY: ▲ 7.62%
• 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

+157.5% since first listed

9 events — show timeline

• 2026-05-26 Listed $180,000 WNYREIS
• 2021-09-21 Sold (Public Records) $871,428 Public Records
• 2020-11-11 Listing Removed — WNYREIS
• 2020-09-21 Relisted — WNYREIS
• 2020-09-14 Pending — WNYREIS
• 2020-07-20 Listed $145,000 WNYREIS
• 2013-09-20 Sold (Public Records) $57,000 Public Records
• 2013-09-20 Sold (MLS) $57,000 WNYREIS
• 2013-06-05 Listed $69,900 WNYREIS

Property tax history

+6.9%/yr

Latest (2025): $577 · +0.0% YoY. Source: county tax records.