149 Northland Ave · Buffalo, NY 14208

$265,000

4 bd · 2.0 ba · 1,936 sqft · MultiFamily public records · 45 Days on market

Built 1900 2,511 sqft lot $137/sqft · 31% below area Est $383k · 31% 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 +25.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +6.8/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• 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

Space, scale, and historic charm collide at 149 Northland Avenue, a 1,936 sq. ft. 2/2 double located in the heart of Buffalo’s sought-after Hamlin Park Historic District. Each unit features 2 rooms, generous living areas, and room to customize or maximize rental income. Luxury vinyl plank floors in common areas, carpeted bedrooms, dry wall walls and ceiling, LED lighting throughout and everything in between has been renovated. PEX and PVC was ran throughout and high efficiency hot water tanks and furnaces in the basement. Whether you’re looking to owner-occupy, expand your portfolio, or preserve a piece of Buffalo history, this property delivers the square footage and location t

Key facts

• 2,511 sq ft lot
• Built 1900
• Listed 45 days

Property features AI

Finance

• Financial info: Tenant pays all utilities; Operating expense details: See remarks

Exterior

• Parking: Concrete parking
• Security: Owned security system
• Utilities: Public water connected; Sewer connected; Electric with circuit breakers
• Home design: Two-story building; Resale property; City street frontage; Located in a historic district; Rectangular residential lot (27 x 93)
• Construction: Vinyl siding; Asphalt roof; Block foundation; Copper and PEX plumbing; Existing (previously built) structure
• Exterior features: Deck; Open porch

Interior

• Kitchen: Dishwasher in one unit
• Bedrooms: Two 1-bedroom units (each with a dining area combined with the living room)
• Flooring: Laminate; Luxury vinyl; Varied flooring types
• Bathrooms: Two full bathrooms (one per unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Ceiling fan(s)
• Laundry & utility: Washer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $265k.

Deal economics

• At list price, monthly cash flow is $633 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• Recommended offer: $257k (3.0% 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.
• Market conditions: 54 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,120/mo this rent would consume 77% of the median local household income ($48k/yr) (locally 723% 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 $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $3k; list at $265k implies a 9715% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $257,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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: 1.18% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.24%
• DSCR: 1.46
• GRM: 7.1

CMA / ARV

• ARV (median comp): $382,697
• List price: $265,000
• Delta: -30.75%
• 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
1602 Jefferson Ave	0.02mi	5/2.0 (+1)	1,936 (0%)	8mo	$290,000	$150	88
1034 Lafayette Ave	0.30mi	4/2.0	1,910 (-1%)	12mo	$281,034	$147	73
244 Purdy St	0.20mi	4/2.0	2,026 (+5%)	12mo	$145,000	$72	73
65 Waverly St	0.37mi	4/2.0	2,005 (+4%)	17mo	$90,000	$45	62
24 Winslow Ave	0.42mi	5/2.0 (+1)	2,024 (+4%)	7mo	$220,000	$109	62
48 Glenwood Ave	0.64mi	5/2.0 (+1)	1,879 (-3%)	2mo	$192,000	$102	58
469 Woodlawn Ave	0.52mi	4/2.0	2,120 (+10%)	6mo	$250,000	$118	55
45 Daisy Pl	0.49mi	5/3.0 (+1)	1,784 (-8%)	6mo	$165,000	$92	49
494 Riley St	0.74mi	4/2.0	2,145 (+11%)	2mo	$175,000	$82	46
81 Lark St	0.64mi	5/2.0 (+1)	1,824 (-6%)	14mo	$150,000	$82	44
2170 Main St	0.74mi	4/2.0	1,816 (-6%)	15mo	$299,999	$165	42
64 Sidney St	0.71mi	4/2.0	1,728 (-11%)	12mo	$65,000	$38	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.97×
• Total profit: $-2,550
• Equity at exit: $39,512

10-year hold

• IRR: 8.8%
• Equity multiple: 1.67×
• Total profit: $49,921
• Equity at exit: $22,912

Cash invested: $74,200 (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 14208

• Home prices YoY: -3.4%
• Active inventory: 54
• Price-to-rent: 14.2×

Monthly cashflow live

• Estimated rent: $3,120 high
• Mortgage (P&I): −$1,390
• Tax est. 1.5%: −$331 /mo · $3,975/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$655
• Net cashflow: $633

Break-even live

Break-even rent $2,318

Max offer price $265,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,120
Total (2 units)			$3,120

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
102 Florida St Buffalo, NY	3.0	1.0	1296	$1,650	$1.27	43d	1	0.12mi
184 Butler Ave Unit 1545840P Buffalo, NY	4.0	1.0	1496	$3,226	$2.16	14d	1	0.48mi
563 Humboldt Pkwy Buffalo, NY	3.0	1.0	2004	$1,200	$0.60	23d	1	0.51mi
73 Inter Park Ave Buffalo, NY	3.0	1.0	2080	$1,300	$0.62	14d	1	0.74mi
740 Elmwood Ave Buffalo, NY	3.0	1.0	2000	$1,995	$1.00	14d	1	1.19mi
202 Summit Ave Unit 1 Buffalo, NY	3.0	1.0	2000	$2,400	$1.20	23d	1	1.41mi
330 Bryant St Buffalo, NY	3.0	2.0	2224	$2,200	$0.99	19d	1	1.46mi
836 Richmond Ave Buffalo, NY	4.0	3.5	1982	$4,500	$2.27	43d	1	1.47mi
118 Ashland Ave Buffalo, NY	3.0	1.0	1326	$1,850	$1.40	14d	1	1.48mi

Listing history 16 events

1. 2026-06-18
   days on market $265,000 Active 45 DOM
2. 2026-06-17
   days on market $265,000 Active 44 DOM
3. 2026-06-16
   days on market $265,000 Active 43 DOM
4. 2026-06-15
   days on market $265,000 Active 42 DOM
5. 2026-06-13
   days on market $265,000 Active 40 DOM
6. 2026-06-13
   days on market $265,000 Active 39 DOM
7. 2026-06-10
   days on market $265,000 Active 37 DOM
8. 2026-06-09
   days on market $265,000 Active 36 DOM
9. 2026-06-08
   days on market $265,000 Active 35 DOM
10. 2026-06-07
    days on market $265,000 Active 34 DOM
11. 2026-06-03
    days on market $265,000 Active 30 DOM
12. 2026-06-02
    days on market $265,000 Active 29 DOM
13. 2026-06-01
    days on market $265,000 Active 28 DOM
14. 2026-05-31
    days on market $265,000 Active 27 DOM
15. 2026-05-04
    listed $265,000 Active 1133-char remark
16. 2022-08-03
    soldstatus $2,700

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 10% 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: $37,440
• − Mortgage interest: −$14,844
• − Property taxes: −$3,975
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,995
• − Management: −$2,995
• − Depreciation: −$7,709
• Taxable income: $3,596
• Est. tax owed @ 24.0%: −$863
• After-tax cash flow: $6,738/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): 12,572
• Household income: $48,476
• Rent vs Own: 46.2% rent · 53.8% own
• Severe rent burden: 723.0

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 (72%)
• Race & ethnicity: Black 72% White 15% Asian 6% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 2% Italian 1% Hispanic 0%
• Foreign-born: 7% · Canada, South Korea, Philippines
• Languages at home: 89% English-only · Other Indo-European 3% Spanish 2% French/Haitian/Cajun 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: ▼ -16.37%
• Current HPI: 459.2084
• Rent YoY: —
• 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

+9714.8% since first listed

2 events — show timeline

• 2026-05-04 Listed $265,000 WNYREIS
• 2022-08-03 Sold (Public Records) $2,700 Public Records

Property tax history

+8.0%/yr

Latest (2023): $218 · +0.0% YoY. Source: county tax records.