67 Holmes St · Buffalo, NY 14207

$165,000

6 bd · 2.0 ba · 2,304 sqft · MultiFamily public records · 11 Days on market

Built 1920 3,485 sqft lot $72/sqft · 29% below area Est $231k · 29% 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 +4.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Discover this beautiful updated ready to move multi family home with 3 bedroom and 1 bathroom at the lower and 3 bedroom and 1 bathroom at the upper unit along with full basement and full attic space. The entire property was remodeled, renovated along with fresh paint. The exquisite interiors with wonderful wooden work make you feel at home with comfort, peace and tranquility. Each of the bed rooms are wide and rent potential property. The home is accessible to all amenities and facilities within 5 minutes driving distance and access to all major highways and state ways. It’s a good location with public transportation access close by. Open House 6.21.26 from 9 am to 11 am. Offer will

Key facts

• Full attic space
• Multi family home
• Remodeled

Tags

• MULTI FAMILY HOME
• FULL BASEMENT
• FULL ATTIC SPACE
• REMODELED
• RENOVATED
• PUBLIC TRANSPORTATION ACCESS

Property features AI

Finance

• Financial info: Two total residential units; Separate gas and electric meters for each unit; Owner pays hot water and trash collection; rent includes hot water and trash collection; Operating expense details referenced in remarks

Exterior

• Parking: Concrete parking area
• Utilities: Public water (connected); Sewer connected
• Home design: Two-story multifamily building; Resale property; Brick, frame, and vinyl siding construction
• Construction: Brick, frame, and vinyl siding construction; Existing structure
• Exterior features: Balcony; Rectangular residential lot with city street frontage

Interior

• Kitchen: Eat-in kitchens in each unit; Formal dining rooms in each unit; Living rooms in each unit
• Bedrooms: Two 3-bedroom units (each unit has 3 bedrooms)
• Flooring: Hardwood; Vinyl; Varies by room
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Hardwood and vinyl flooring; varies by room
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $165k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $165k).
• Cap rate 14.8% 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 (+8.2%/yr); 199 active listings in the ZIP; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,702/mo this rent would consume 82% of the median local household income ($40k/yr) (locally 2177% 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 + 8.0% rent growth), your $46k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts 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.
• Current owner paid $35k; list at $165k implies a 371% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,000

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.64% ✓
• Cap rate: 14.79%
• Cash-on-cash: 30.35%
• DSCR: 2.35
• GRM: 5.1

CMA / ARV

• ARV (median comp): $231,029
• List price: $165,000
• Delta: -13.86%
• 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
43 Sunset St	0.19mi	6/2.0	2,271 (-1%)	1mo	$165,000	$73	88
41 Page St	0.15mi	5/2.0 (-1)	2,274 (-1%)	4mo	$230,000	$101	83
75 Saint Florian St	0.23mi	6/2.0	2,338 (+2%)	10mo	$160,000	$68	79
80 Gladstone St	0.28mi	6/2.0	2,420 (+5%)	11mo	$180,000	$74	69
263 Chandler St	0.51mi	5/2.0 (-1)	2,254 (-2%)	2mo	$195,000	$87	66
202 Grote St	0.49mi	6/2.0	2,200 (-4%)	5mo	$219,750	$100	65
129 Philadelphia St	0.68mi	6/2.0	2,292 (-0%)	9mo	$250,000	$109	60
94 Germain St	0.64mi	6/2.0	2,142 (-7%)	10mo	$110,000	$51	50
81 Grote St	0.48mi	5/2.0 (-1)	2,024 (-12%)	13mo	$155,000	$77	41
77 Clay St	0.70mi	6/2.0	1,964 (-15%)	3mo	$73,500	$37	40
69 Hunt Ave	0.65mi	5/2.0 (-1)	2,484 (+8%)	15mo	$234,999	$95	40
151 Howell St	0.50mi	5/3.0 (-1)	2,048 (-11%)	13mo	$120,000	$59	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 30.1%
• Equity multiple: 2.34×
• Total profit: $61,907
• Equity at exit: $24,602

10-year hold

• IRR: 40.0%
• Equity multiple: 5.64×
• Total profit: $214,471
• Equity at exit: $14,266

Cash invested: $46,200 (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 14207

• Home prices YoY: -18.9%
• Rents YoY: 8.2%
• Active inventory: 199
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,702 high
• Mortgage (P&I): −$865
• Tax from tax record: −$32 /mo · $383/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$567
• Net cashflow: $1,169

Break-even live

Break-even rent $1,223

Max offer price $165,000

Occupancy floor 52%

Sensitivity live

Price	-10% $1,262	-5% $1,215	+0% $1,169	+5% $1,122	+10% $1,075
Rent	-10% $955	-5% $1,062	+0% $1,169	+5% $1,275	+10% $1,382
Rate	-1.0pp $1,252	-0.5pp $1,211	base $1,169	+0.5pp $1,126	+1.0pp $1,082

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,702
Total (2 units)			$2,702

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $165,000 Active 11 DOM
2. 2026-06-18
   days on market $165,000 Active 8 DOM
3. 2026-06-17
   days on market $165,000 Active 7 DOM
4. 2026-06-16
   days on market $165,000 Active 6 DOM
5. 2026-06-15
   days on market $165,000 Active 5 DOM
6. 2026-06-13
   days on market $165,000 Active 3 DOM
7. 2026-06-13
   remarks 693-char remark
8. 2026-06-13
   days on marketlisting id $165,000 Active 2 DOM
9. 2026-06-07
   days on market $165,000 Active 5 DOM
10. 2026-06-02
    remarks 650-char remark
11. 2026-06-02
    pricedays on marketlisting id $165,000 Active 1 DOM
12. 2026-05-31
    days on market $199,000 Active 186 DOM
13. 2025-11-26
    listed $199,000 Active 615-char remark
14. 2025-08-14
    historical
15. 2025-07-07
    listed $188,900 Active
16. 2023-07-25
    soldstatus $35,000
17. 2020-01-03
    soldstatus $115,500

ⓘ 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: $383 · $32/mo
• Projected year-2 tax: $1,586 · $132/mo
• Expected delta: +$1,203/yr (+$100/mo · 314.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% 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 4 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,424
• − Mortgage interest: −$9,243
• − Property taxes: −$383
• − Insurance: −$825
• − Repairs & maintenance: −$2,594
• − Management: −$2,594
• − Depreciation: −$4,800
• Taxable income: $11,986
• Est. tax owed @ 24.0%: −$2,877
• After-tax cash flow: $11,147/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): 26,327
• Household income: $39,753
• Rent vs Own: 65.0% rent · 35.0% own
• Severe rent burden: 2177.0

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: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: White 40% Hispanic / Latino 23% Black 16% Asian 15% Two or more races 14%
• Hispanic origin (detail): Puerto Rican 18% Dominican 2%
• Common ancestry: Romanian 8% Portuguese 1% Arab 1%
• Foreign-born: 19% · Philippines, Canada, India
• Languages at home: 65% English-only · Spanish 14% Other Asian/Pacific 10% Other Indo-European 5%

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: ▼ -54.42%
• Current HPI: 233.0902
• Rent YoY: ▲ 8.19%
• 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

+42.9% since first listed

10 events — show timeline

• 2026-06-10 Listed $165,000 WNYREIS
• 2026-06-08 Listing Removed — WNYREIS
• 2026-06-06 Listing Removed — WNYREIS
• 2026-06-02 Listed $165,000 WNYREIS
• 2026-06-01 Listing Removed — WNYREIS
• 2025-11-26 Listed $199,000 WNYREIS
• 2025-08-14 Listing Removed — WNYREIS
• 2025-07-07 Listed $188,900 WNYREIS
• 2023-07-25 Sold (Public Records) $35,000 Public Records
• 2020-01-03 Sold (Public Records) $115,500 Public Records

Property tax history

+8.8%/yr

Latest (2025): $383 · -10.1% YoY. Source: county tax records.