586 Wyoming Ave · Buffalo, NY 14215

$161,000

4 bd · 2.0 ba · 2,379 sqft · MultiFamily public records · 9 Days on market

Built 1940 4,550 sqft lot Est $190k · 15% 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 +14.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Multi-family units

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

Listing remarks

Well-maintained 2-family home offering a great opportunity for owner-occupants or investors! Each apartment features 2 bedrooms and 1 full bath, with spacious living and dining rooms providing comfortable living space. The property includes a full basement and walk-up attic, offering plenty of storage options. Exterior features include vinyl siding, a long driveway for off-street parking, and a large mostly fenced yard. Recent improvements include a hot water tank replaced in 2024, glass block windows in the basement, and rebuilt front stairs, along with additional updates completed over time. Tenant occupied (tenant willing to stay), making this a convenient income-producing property with

Key facts

• Full basement
• Glass block windows
• Vinyl siding

Tags

• FULL BASEMENT
• WALK-UP ATTIC
• VINYL SIDING
• LONG DRIVEWAY
• MOSTLY FENCED YARD
• GLASS BLOCK WINDOWS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $161k.

Deal economics

• At list price, monthly cash flow is $974 ($12k/yr) — positive. Per door: $487/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $161k).
• Cap rate 13.6% 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 flat; 237 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,641/mo this rent would consume 70% of the median local household income ($45k/yr) (locally 2873% 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 + 0.7% rent growth), your $45k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $70k; list at $161k implies a 130% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $161,000

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 1940 — 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: 1.64% ✓
• Cap rate: 13.55%
• Cash-on-cash: 25.92%
• DSCR: 2.15
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $190,320
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
586 Wyoming Ave	0.00mi	4/2.0	2,379 (0%)	1mo	$148,000	$62	99
40 Ruspin Ave	0.64mi	4/2.0	2,351 (-1%)	2mo	$307,000	$131	67
96 Sussex St	0.23mi	5/2.0 (+1)	2,152 (-10%)	4mo	$255,000	$118	65
495 Norfolk Ave	0.31mi	5/2.0 (+1)	2,254 (-5%)	11mo	$295,000	$131	63
475 Norfolk Ave	0.33mi	4/2.0	2,068 (-13%)	8mo	$105,000	$51	56
213 Jewett Ave	0.62mi	4/2.0	2,154 (-10%)	3mo	$116,000	$54	53
44 Freeman St	0.60mi	4/2.0	2,182 (-8%)	9mo	$144,000	$66	51
35 Erskine Ave	0.64mi	4/2.0	2,135 (-10%)	4mo	$170,000	$80	49
329 Jewett Ave	0.42mi	4/4.0	2,053 (-14%)	8mo	$165,000	$80	43
47 Weston Ave	0.67mi	4/2.0	2,052 (-14%)	8mo	$230,000	$112	39
18 Phyllis Ave	0.70mi	5/2.0 (+1)	2,134 (-10%)	8mo	$138,000	$65	39
210 Carl St	0.73mi	5/2.0 (+1)	2,112 (-11%)	7mo	$220,000	$104	37

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: 16.9%
• Equity multiple: 1.66×
• Total profit: $29,919
• Equity at exit: $24,006

10-year hold

• IRR: 23.7%
• Equity multiple: 2.83×
• Total profit: $82,378
• Equity at exit: $13,920

Cash invested: $45,080 (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: 237
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,641 high
• Mortgage (P&I): −$844
• Tax est. 1.5%: −$201 /mo · $2,415/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$555
• Net cashflow: $974

Break-even live

Break-even rent $1,408

Max offer price $161,000

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,642
Total (2 units)			$2,641

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: $40,250
• Closing costs: $4,830
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25 Parkridge Ave Buffalo, NY	3.0	1.0	1914	$1,350	$0.71	14d	1	0.36mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,997	$2.93	1d	10	1.01mi
175 Lisbon Ave Buffalo, NY	5.0	2.0	2000	$2,500	$1.25	14d	1	1.15mi
59 Lisbon Ave Buffalo, NY	3.0	1.0	2521	$1,250	$0.50	23d	1	1.18mi
85 Highgate Ave Buffalo, NY	5.0	2.0	2193	$3,750	$1.71	14d	1	1.23mi
563 Humboldt Pkwy Buffalo, NY	3.0	1.0	2004	$1,200	$0.60	23d	1	1.24mi
202 Summit Ave Unit 1 Buffalo, NY	3.0	1.0	2000	$2,400	$1.20	23d	1	1.27mi
24 Custer St Buffalo, NY	5.0	2.0	2500	$3,000	$1.20	14d	1	1.32mi
73 Inter Park Ave Buffalo, NY	3.0	1.0	2080	$1,300	$0.62	14d	1	1.34mi
91 W Humboldt Pkwy Buffalo, NY	4.0	2.0	3017	$3,400	$1.13	43d	1	1.47mi

Listing history 5 events

1. 2026-03-27
   status Pending
2. 2026-03-18
   listed $161,000 Active
3. 2020-12-17
   soldstatus $70,000
4. 2012-03-12
   soldstatus $23,000
5. 2004-09-15
   soldstatus $37,500

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% 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: $31,692
• − Mortgage interest: −$9,019
• − Property taxes: −$2,415
• − Insurance: −$805
• − Repairs & maintenance: −$2,535
• − Management: −$2,535
• − Depreciation: −$4,684
• Taxable income: $9,699
• Est. tax owed @ 24.0%: −$2,328
• After-tax cash flow: $9,357/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

+329.3% since first listed

5 events — show timeline

• 2026-03-27 Pending — WNYREIS
• 2026-03-18 Listed $161,000 WNYREIS
• 2020-12-17 Sold (Public Records) $70,000 Public Records
• 2012-03-12 Sold (Public Records) $23,000 Public Records
• 2004-09-15 Sold (Public Records) $37,500 Public Records

Property tax history

+1.1%/yr

Latest (2025): $252 · +0.0% YoY. Source: county tax records.