626 E Delavan Ave Unit N · Buffalo, NY 14211

$199,626

6 bd · 2.0 ba · 2,264 sqft · Townhouse public records · 28 Days on market

Built 1920 3,522 sqft lot $88/sqft · 9% below area Est $220k · 9% 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 +25.5/30.0
• ARV discount +11.7/15.0
• DSCR +8.4/10.0
• Appreciation +6.0/10.0
• 1% rule +5.4/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

WELCOME TO THIS WELL CARED FOR SOLID 2-UNIT READY FOR SERIOUS INVESTORS WANTING TO MOVE IN OR COLLECT INCOME! IT HAS ALL BEEN DONE; THE HARDWOOD FLOORS HAVE A GLOW; LARGE LRS & FORMAL DINING RMS; BOTH KITCHENS HAVE NEW CABINETS, COUNTERTOPS & BACKSPLASH; OPEN HIGH CEILINGS ALLOW BRIGHT LIGHT ENTRY; ALL 3 BR'S HAVE CLOSETS; BOTH SPACIOUS UNITS HAVE BEEN PAINTED INTERIOR; ONE BEDROOM HAS NEW CARPET; VARIOUS PARTS OF THE UPDATED BATHS; BOTH UNITS HAVE FRONT & REAR PAINTED HALLWAYS. NEW EXTERIOR WINDOWS, TRIM PAINTED WITH RAILINGS & PORCHES; NEW WINDOWS INSTALLED. FULL BASEMENT WITH LAUNDRY HOOKUPS FOR EACH UNIT; STORAGE ROOMS FOR EACH UNIT; SEPARATE UTILITIES; SOLID MEC

Key facts

• New carpet
• New cabinets
• New countertops

Tags

• HARDWOOD FLOORS
• NEW CABINETS
• NEW COUNTERTOPS
• NEW BACKSPLASH
• HIGH CEILINGS
• NEW CARPET

Property features AI

Finance

• Financial info: Owner pays trash collection and water; tenants pay all utilities; Operating expenses may include fuel, insurance, licenses, maintenance and rent (see remarks)

Exterior

• Parking: Attached garage with two spaces
• Utilities: Public water connected; Sewer connected; Circuit breaker electric
• Home design: Two-story property; Residential 2-unit zoning
• Construction: Vinyl siding; Copper plumbing; Asphalt shingle roof; Block foundation; Existing (previously built)
• Exterior features: Partial fencing; Near public transit; Rectangular residential lot; City street frontage

Interior

• Flooring: Hardwood; Laminate; Tile; Varies
• Bathrooms: Two full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood, laminate, tile and varied flooring throughout; Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath townhouse listed at $200k.

Deal economics

• At list price, monthly cash flow is $465 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $197k (1.5% 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: 172 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,076/mo this rent would consume 69% of the median local household income ($36k/yr) (locally 1804% 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 $5k of equity ($1k loan paydown + $4k appreciation (2.0% local appreciation)).
• At projected returns (2.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $196,631 (1.5% below list)

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 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: 1.04% ✓
• Cap rate: 9.09%
• Cash-on-cash: 9.98%
• DSCR: 1.44
• GRM: 8.0

CMA / ARV

• ARV (median comp): $220,000
• List price: $199,626
• Delta: -9.26%
• Verdict: FAIR
• Comps: 9 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
417 Cambridge Ave	0.63mi	6/2.0	1,960 (-13%)	1mo	$220,000	$112	47
411 Cambridge Ave	0.63mi	6/2.0	1,960 (-13%)	3mo	$235,000	$120	46
226 Cambridge Ave #2	0.57mi	6/2.0	2,476 (+9%)	20mo	$130,000	$53	41

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

Projected returns pro-forma

2.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.5%
• Equity multiple: 1.78×
• Total profit: $43,706
• Equity at exit: $79,269

10-year hold

• IRR: 17.0%
• Equity multiple: 3.27×
• Total profit: $126,749
• Equity at exit: $114,558

Cash invested: $55,895 (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 14211

• Home prices YoY: 0.6%
• Active inventory: 172
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,076 medium
• Mortgage (P&I): −$1,047
• Tax from tax record: −$45 /mo · $545/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $465

Break-even live

Break-even rent $1,488

Max offer price $199,626

Occupancy floor 73%

Sensitivity live

Price	-10% $578	-5% $521	+0% $465	+5% $408	+10% $352
Rent	-10% $301	-5% $383	+0% $465	+5% $547	+10% $629
Rate	-1.0pp $566	-0.5pp $516	base $465	+0.5pp $413	+1.0pp $361

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: $49,906
• Closing costs: $5,989
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15 Hughes Ave Buffalo, NY	7.0	2.0	1650	$3,000	$1.82	44d	1	1.00mi

Listing history 4 events

1. 2026-06-02
   statusdays on market $199,626 Pending 28 DOM
2. 2026-06-01
   days on market $199,626 Active Under Contract 27 DOM
3. 2026-05-31
   days on market $199,626 Active Under Contract 26 DOM
4. 2026-05-04
   listed $199,626 Active 950-char remark

ⓘ 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: $545 · $45/mo
• Projected year-2 tax: $1,959 · $163/mo
• Expected delta: +$1,414/yr (+$118/mo · 259.6%)

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

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: $24,918
• − Mortgage interest: −$11,182
• − Property taxes: −$545
• − Insurance: −$998
• − Repairs & maintenance: −$1,993
• − Management: −$1,993
• − Depreciation: −$5,807
• Taxable income: $2,398
• Est. tax owed @ 24.0%: −$576
• After-tax cash flow: $5,004/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): 24,663
• Household income: $36,300
• Rent vs Own: 54.8% rent · 45.2% own
• Severe rent burden: 1804.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Black 59% Asian 20% Hispanic / Latino 9% White 9% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 4%
• Foreign-born: 17% · Canada, Philippines, Vietnam
• Languages at home: 74% English-only · Other Indo-European 14% Spanish 6% Other Asian/Pacific 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: ▲ 2.05%
• Current HPI: 357.6438
• 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

3 events — show timeline

• 2026-06-02 Pending — WNYREIS
• 2026-05-25 Contingent — WNYREIS
• 2026-05-04 Listed $199,626 WNYREIS

Property tax history

+12.0%/yr

Latest (2025): $545 · +76.8% YoY. Source: county tax records.