527 Massachusetts Ave · Buffalo, NY 14213

$294,900

7 bd · 3.0 ba · 2,620 sqft · MultiFamily public records · 1 Days on market

Built 1910 3,480 sqft lot Est $317k · 7% under

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Why this score? — see what drove the A- 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 +10.6/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Appreciation +8.8/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Investment OR owner occupant Opportunity – 3-Unit Property at 527 Massachusetts Ave, Buffalo, NY Don’t miss this excellent opportunity to own a solid three-unit income-producing property in a great west side of Buffalo location! This well-maintained multi-family property features two occupied units generating a combined $27,120 in annual rental income, with one vacant unit ready for immediate occupancy or lease-up. The vacant unit presents the perfect chance for an owner-occupant to live affordably while collecting rent, or for an investor to increase cash flow by bringing the third unit online at current market rents. With strong rental demand in the area, there’s signi

Key facts

• 3 unit property
• Buffalo location
• Vacant unit ready

Tags

• 3 UNIT PROPERTY
• VACANT UNIT READY
• INCREASE TOTAL GROSS RENT
• BUFFALO LOCATION

Property features AI

Finance

• Financial info: Gross income reported at $27,120; Units rent examples: one unit at $1,050 (lease expires Sep 30, 2026); one unit at $1,210 (lease expires Feb 28, 2027); Owner pays water and trash collection (per listing remarks)
• HOA & community: Trash included in operating expenses

Exterior

• Parking: No driveway
• Utilities: Public water connected; Sewer connected
• Home design: Multi-family property with 3 units; 2 stories
• Construction: Vinyl siding; Shingle roof; Stone foundation; Existing structure
• Exterior features: Balcony; Deck; Covered porch; Partial fencing

Interior

• Kitchen: Oven/Range in each unit; Refrigerator in each unit
• Bedrooms: One 2-bedroom unit; Second 2-bedroom unit; One 3-bedroom unit
• Flooring: Hardwood; Tile; Vinyl; Varies
• Bathrooms: Three full bathrooms (total for the building)
• Heating & cooling: Gas heating; Forced air
• Interior features: Leaded glass windows; Natural woodwork
• Laundry & utility: Washer hookup (common area laundry); Gas water heater

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $295k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $520/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $295k).
• Cap rate 12.6% 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 soft (-0.5%/yr); 137 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $4,206/mo this rent would consume 94% of the median local household income ($54k/yr) (locally 1501% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (7.5% local appreciation)).
• At projected returns (7.5% appreciation + 0.0% rent growth), your $83k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $18k; list at $295k implies a 1585% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $294,900

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 1910 — 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: 1.43% ✓
• Cap rate: 12.65%
• Cash-on-cash: 22.69%
• DSCR: 2.01
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $317,020
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
30 S Putnam St Unit W	0.13mi	7/3.5	2,835 (+8%)	7mo	$170,000	$60	72
575 Auburn Ave	0.33mi	6/3.0 (-1)	2,456 (-6%)	9mo	$380,000	$155	61
215 Baynes St	0.46mi	6/2.0 (-1)	2,660 (+2%)	8mo	$255,000	$96	60
67 Barton St	0.56mi	6/2.0 (-1)	2,420 (-8%)	0mo	$170,000	$70	52
128 Lancaster Ave	0.62mi	6/2.0 (-1)	2,912 (+11%)	1mo	$510,000	$175	42
122 Saint James Pl	0.66mi	6/2.0 (-1)	2,926 (+12%)	1mo	$475,000	$162	40
559 Potomac Ave	0.68mi	6/2.0 (-1)	2,402 (-8%)	6mo	$437,500	$182	40
315 Herkimer St	0.64mi	6/2.0 (-1)	2,303 (-12%)	2mo	$148,000	$64	39
330 Potomac Ave	0.67mi	6/4.0 (-1)	2,896 (+10%)	6mo	$263,000	$91	37
238 Barton St	0.64mi	6/2.0 (-1)	2,246 (-14%)	2mo	$195,000	$87	36
61 Claremont Ave	0.64mi	6/2.0 (-1)	2,912 (+11%)	8mo	$411,000	$141	36
289 Hoyt St	0.61mi	6/2.0 (-1)	2,232 (-15%)	8mo	$270,000	$121	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.51% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 35.4%
• Equity multiple: 3.41×
• Total profit: $199,347
• Equity at exit: $214,325

10-year hold

• IRR: 30.7%
• Equity multiple: 6.83×
• Total profit: $481,643
• Equity at exit: $416,486

Cash invested: $82,572 (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 14213

• Home prices YoY: 1.7%
• Rents YoY: -0.5%
• Active inventory: 137
• Price-to-rent: 17.5×

Monthly cashflow live

• Estimated rent: $4,206 high
• Mortgage (P&I): −$1,546
• Tax from tax record: −$92 /mo · $1,106/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$883
• Net cashflow: $1,561

Break-even live

Break-even rent $2,230

Max offer price $294,900

Occupancy floor 58%

Sensitivity live

Price	-10% $1,728	-5% $1,645	+0% $1,561	+5% $1,478	+10% $1,394
Rent	-10% $1,229	-5% $1,395	+0% $1,561	+5% $1,727	+10% $1,893
Rate	-1.0pp $1,710	-0.5pp $1,636	base $1,561	+0.5pp $1,485	+1.0pp $1,407

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,206
Total (3 units)			$4,206

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: $73,725
• Closing costs: $8,847
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-19
   remarks 681-char remark
2. 2026-06-19
   listed $294,900 Active 1 DOM

ⓘ 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: $1,106 · $92/mo
• Projected year-2 tax: $3,045 · $254/mo
• Expected delta: +$1,939/yr (+$162/mo · 175.3%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $50,472
• − Mortgage interest: −$16,519
• − Property taxes: −$1,106
• − Insurance: −$1,474
• − Repairs & maintenance: −$4,038
• − Management: −$4,038
• − Depreciation: −$8,579
• Taxable income: $14,718
• Est. tax owed @ 24.0%: −$3,532
• After-tax cash flow: $15,202/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): 24,107
• Household income: $53,870
• Rent vs Own: 60.5% rent · 39.5% own
• Severe rent burden: 1501.0

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 0.70)
• Race & ethnicity: White 46% Hispanic / Latino 20% Black 18% Asian 12% Two or more races 10%
• Hispanic origin (detail): Mexican 1% Puerto Rican 16% Dominican 1%
• Common ancestry: Romanian 6% Slovak 3% Lithuanian 3%
• Foreign-born: 16% · Philippines, Canada, India
• Languages at home: 68% English-only · Spanish 12% Other Asian/Pacific 7% Arabic 3%

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: ▲ 7.51%
• Current HPI: 448.4879
• Rent YoY: ▼ -0.49%
• 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

+1585.1% since first listed

2 events — show timeline

• 2026-06-18 Listed $294,900 WNYREIS
• 2010-10-29 Sold (Public Records) $17,500 Public Records

Property tax history

+15.0%/yr

Latest (2025): $1,106 · -8.2% YoY. Source: county tax records.