18 Wilkes Ave · Buffalo, NY 14215

$144,900

3 bd · 1.0 ba · 1,326 sqft · SingleFamily public records · 51 Days on market

Built 1920 3,906 sqft lot $109/sqft · 13% below area Est $167k · 13% under

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Why this score? — see what drove the C 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 +21.7/30.0
• ARV discount +13.4/15.0
• DSCR +6.9/10.0
• 1% rule +4.4/10.0
• 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

Welcome to 18 Wilkes Ave, a great opportunity in the City of Buffalo! This single-family home offers 3 bedrooms and 1 full bath, featuring vinyl flooring throughout for easy maintenance. The layout includes two convenient first-floor bedrooms, with an additional bedroom upstairs, providing flexibility for various living arrangements. The property also includes a full basement and attic, offering ample storage space. Currently tenant-occupied, this home presents a perfect opportunity for both owner occupancy or an investor looking to expand their portfolio. Located close to public transportation, shopping, and everyday amenities, this property offers both convenience and potential. Don&rsquo

Key facts

• Ample storage space
• Vinyl flooring
• Full basement

Tags

• VINYL FLOORING
• FULL BASEMENT
• AMPLE STORAGE SPACE

Property features AI

Finance

• HOA & community: Trails/paths nearby

Exterior

• Parking: No garage
• Utilities: Electricity connected (circuit breakers); Public water connected; Sewer connected; High-speed internet available
• Home design: Single-story; Existing construction; Asphalt roof
• Construction: Block foundation; Construction details: see remarks
• Exterior features: Concrete driveway; Partial fence; Fence; Open porch

Interior

• Kitchen: Free-standing range; Microwave; Oven; Refrigerator; Gas water heater; See remarks (additional kitchen details)
• Bedrooms: 2 main-level bedrooms
• Flooring: Vinyl; Varies
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas forced-air heating
• Interior features: Eat-in kitchen; Living/dining room; Bedroom on main level; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $223 ($3k/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 $136k (6.2% below list).
• Recommended offer: $136k (6.2% below list) — sets the bar for 1% rule.

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 flat; 239 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 36% 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 $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $43k; list at $145k implies a 237% 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: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,844 (6.2% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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 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: 0.94% ✗
• Cap rate: 8.14%
• Cash-on-cash: 6.59%
• DSCR: 1.29
• GRM: 8.9

CMA / ARV

• ARV (median comp): $166,568
• List price: $144,900
• Delta: -13.01%
• 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
54 Roma Ave	0.20mi	3/1.5	1,320 (-0%)	1mo	$165,000	$125	87
212 Easton Ave	0.31mi	4/1.0 (+1)	1,248 (-6%)	3mo	$220,000	$176	68
67 Carol Dr	0.54mi	3/1.0	1,384 (+4%)	2mo	$225,000	$163	66
98 E End Ave	0.31mi	3/2.0	1,217 (-8%)	2mo	$160,000	$131	66
158 Wende St	0.69mi	4/1.0 (+1)	1,340 (+1%)	1mo	$70,000	$52	61
90 Alma Ave	0.58mi	2/2.0 (-1)	1,360 (+3%)	3mo	$105,000	$77	57
76 Humason Ave	0.57mi	3/1.0	1,212 (-9%)	4mo	$125,000	$103	56
74 Domedion Ave	0.54mi	3/1.0	1,196 (-10%)	4mo	$120,000	$100	55
17 Eller Ave	0.67mi	4/2.0 (+1)	1,274 (-4%)	4mo	$167,500	$131	50
157 Roosevelt Ave	0.73mi	4/2.0 (+1)	1,394 (+5%)	4mo	$200,000	$143	45
48 Dorris Ave	0.63mi	4/1.0 (+1)	1,160 (-12%)	6mo	$35,000	$30	40
68 Wecker St	0.53mi	4/2.0 (+1)	1,148 (-13%)	6mo	$180,000	$157	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 · 0.67% rent growth · sell at horizon

5-year hold

• IRR: -8.6%
• Equity multiple: 0.69×
• Total profit: $-12,484
• Equity at exit: $21,605

10-year hold

• IRR: -2.0%
• Equity multiple: 0.87×
• Total profit: $-5,093
• Equity at exit: $12,528

Cash invested: $40,572 (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 14215

• Home prices YoY: -30.0%
• Rents YoY: 0.7%
• Active inventory: 239
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,358 high
• Mortgage (P&I): −$760
• Tax from tax record: −$30 /mo · $363/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $223

Break-even live

Break-even rent $1,077

Max offer price $144,900

Occupancy floor 79%

Sensitivity live

Price	-10% $305	-5% $264	+0% $223	+5% $182	+10% $141
Rent	-10% $115	-5% $169	+0% $223	+5% $276	+10% $330
Rate	-1.0pp $296	-0.5pp $260	base $223	+0.5pp $185	+1.0pp $147

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
61 Courtland Ave Unit Lower Buffalo, NY	2.0	1.0	1000	$1,300	$1.30	45d	1	0.15mi
249 Newburgh Ave Unit 2 Buffalo, NY	2.0	1.0	930	$1,300	$1.40	45d	1	0.20mi
216 Newburgh Ave Buffalo, NY	2.0	1.0	1690	$1,150	$0.68	25d	1	0.26mi
71 Gerald Ave Buffalo, NY	2.0	1.0	1773	$1,100	$0.62	45d	1	0.33mi
17 Proctor Ave Unit 1 Buffalo, NY	2.0	1.0	900	$1,100	$1.22	45d	1	0.48mi
103 Preston Rd Unit Lower Cheektowaga, NY	2.0	1.0	882	$1,300	$1.47	4d	1	0.52mi
85 Blake St Unit 1 Buffalo, NY	4.0	2.0	1022	$1,000	$0.98	45d	1	0.55mi
65 Domedion Ave Buffalo, NY	3.0	1.0	1632	$1,500	$0.92	3d	1	0.55mi
74 Dorris Ave Buffalo, NY	3.0	1.0	1200	$1,450	$1.21	45d	1	0.58mi
50 Pine Ridge Ter Unit 3 Cheektowaga, NY	2.0	1.0	900	$1,400	$1.56	18d	1	0.61mi
67 Moeller St Unit UPPER Buffalo, NY	3.0	1.0	960	$1,000	$1.04	4d	1	0.93mi
67 Moeller St Unit LOWER Buffalo, NY	3.0	1.0	960	$1,200	$1.25	25d	1	0.93mi
11 Kaufman Dr Buffalo, NY	2.0	1.0	900	$1,500	$1.67	45d	1	0.95mi
97 Davidson Ave Buffalo, NY	3.0	1.0	925	$1,495	$1.62	3d	1	1.01mi
90 Sussex St Unit 2 Buffalo, NY	2.0	1.0	1000	$1,000	$1.00	45d	1	1.10mi
24 Euclid Ave Buffalo, NY	3.0	2.0	1150	$1,700	$1.48	45d	1	1.11mi
979 Walden Ave Buffalo, NY	4.0	3.0	1793	$2,000	$1.12	3d	1	1.16mi
143 Reo Ave Buffalo, NY	3.0	2.0	1143	$1,600	$1.40	13d	1	1.17mi
517 Goodyear Ave Buffalo, NY	3.0	1.0	1559	$1,800	$1.15	20d	1	1.23mi
189 Westminster Ave Buffalo, NY	4.0	1.5	1065	$1,595	$1.50	11d	1	1.27mi
1202 Walden Ave Unit 3 Buffalo, NY	3.0	1.0	1500	$1,400	$0.93	18d	1	1.27mi
140 Parkridge Ave Buffalo, NY	3.0	1.0	990	$1,500	$1.52	45d	1	1.38mi
2935 Genesee St Unit Up Buffalo, NY	2.0	1.0	1400	$1,400	$1.00	11d	1	1.45mi

Listing history 18 events

1. 2026-06-21
   days on market $144,900 Active 51 DOM
2. 2026-06-18
   days on market $144,900 Active 48 DOM
3. 2026-06-17
   days on market $144,900 Active 47 DOM
4. 2026-06-16
   days on market $144,900 Active 46 DOM
5. 2026-06-15
   days on market $144,900 Active 45 DOM
6. 2026-06-13
   days on market $144,900 Active 43 DOM
7. 2026-06-13
   days on market $144,900 Active 42 DOM
8. 2026-06-10
   days on market $144,900 Active 40 DOM
9. 2026-06-09
   days on market $144,900 Active 39 DOM
10. 2026-06-08
    days on market $144,900 Active 38 DOM
11. 2026-06-07
    pricedays on market $144,900 Active 37 DOM
12. 2026-06-03
    days on market $154,900 Active 33 DOM
13. 2026-06-02
    days on market $154,900 Active 32 DOM
14. 2026-06-01
    days on market $154,900 Active 31 DOM
15. 2026-05-31
    days on market $154,900 Active 30 DOM
16. 2026-05-01
    listed $154,900 Active 760-char remark
17. 1995-06-09
    soldstatus $43,000
18. 1993-10-20
    soldstatus $39,000

ⓘ 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: $363 · $30/mo
• Projected year-2 tax: $1,406 · $117/mo
• Expected delta: +$1,043/yr (+$87/mo · 287.1%)

ⓘ 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) · 57% 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: $16,301
• − Mortgage interest: −$8,117
• − Property taxes: −$363
• − Insurance: −$724
• − Repairs & maintenance: −$1,304
• − Management: −$1,304
• − Depreciation: −$4,215
• Taxable income: $273
• Est. tax owed @ 24.0%: −$66
• After-tax cash flow: $2,606/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

+271.5% since first listed

4 events — show timeline

• 2026-06-06 Price Changed $144,900 WNYREIS
• 2026-05-01 Listed $154,900 WNYREIS
• 1995-06-09 Sold (Public Records) $43,000 Public Records
• 1993-10-20 Sold (Public Records) $39,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $363 · +50.7% YoY. Source: county tax records.