182 Brunswick Blvd · Buffalo, NY 14208

$199,000

6 bd · 2.0 ba · 2,864 sqft · MultiFamily public records · 36 Days on market

Built 1900 3,960 sqft lot $69/sqft · 44% below area Est $359k · 44% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• 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: 2 units. confirmed

Listing remarks

Welcome to this spacious and 2-family home, perfect for homeowners and investors alike! This move-in ready property features a 3-bedroom, 1-bath unit on the first floor and a 2-bedroom, 1-bath unit on the second floor—each with its own kitchen, formal living and dining areas. All of the rooms are spacious, perfect for bigger familes. Whether you plan to live in one unit and rent out the other or need extra space for extended family, this home gives you great flexibility. The finished attic offers extra room for storage, a small office, or even a playroom. Outside, enjoy a generous backyard that’s perfect for gardening, entertaining, or relaxing. Located close to groceries, publ

Key facts

• Finished attic
• Close to groceries
• Generous backyard

Tags

• FINISHED ATTIC
• GENEROUS BACKYARD
• CLOSE TO GROCERIES
• PUBLIC TRANSPORTATION
• MAJOR RENOVATIONS COMPLETED

Property features AI

Finance

• Financial info: Owner pays water; water included in rent; Operating expenses include water; Two-unit property with separate rents reported (one unit reported at $900, the other at $600)

Exterior

• Parking: Detached or attached garage (1 car); Concrete and paved parking surfaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story multi-family property; Existing/resale condition
• Construction: Frame, stone, and vinyl siding construction
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 36 x 110

Interior

• Kitchen: Dining area with living room in each unit
• Bedrooms: Two 3-bedroom units (each unit includes a dining area with living room)
• Flooring: Carpet; Hardwood; Vinyl; Varies
• Bathrooms: Each unit has 1 full bathroom (total 2 full bathrooms)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement
• Laundry & utility: Separate gas meters for each unit; Separate electric meters for each unit

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $927/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $199k).
• Recommended offer: $193k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.5% 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: 54 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,865/mo this rent would consume 96% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $120k; list at $199k implies a 66% 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 $193,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.94% ✓
• Cap rate: 17.47%
• Cash-on-cash: 39.91%
• DSCR: 2.78
• GRM: 4.3

CMA / ARV

• ARV (median comp): $358,553
• List price: $199,000
• Delta: -44.50%
• 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
125 Butler Ave	0.08mi	6/2.0	2,762 (-4%)	4mo	$145,000	$52	86
236 Brunswick Blvd	0.10mi	5/2.0 (-1)	2,779 (-3%)	4mo	$287,500	$103	82
21 Butler Ave	0.22mi	6/2.0	2,998 (+5%)	1mo	$215,000	$72	81
362 Northland Ave	0.16mi	6/2.0	2,723 (-5%)	8mo	$216,000	$79	78
509 E Utica St	0.44mi	6/2.0	2,976 (+4%)	3mo	$135,800	$46	70
192 Goulding Ave	0.15mi	6/2.0	2,476 (-14%)	2mo	$220,000	$89	69
148 Northland Ave	0.41mi	6/2.0	2,670 (-7%)	10mo	$220,000	$82	61
267 Humboldt Pkwy	0.62mi	6/2.0	2,833 (-1%)	10mo	$260,000	$92	61
213 Winslow Ave	0.32mi	6/2.0	2,484 (-13%)	8mo	$242,000	$97	56
1002 Humboldt Pkwy	0.67mi	6/2.0	2,684 (-6%)	8mo	$185,750	$69	52
84 Monticello Pl	0.69mi	6/2.0	2,591 (-10%)	0mo	$145,000	$56	52
56 Eastwood Pl	0.65mi	6/2.0	2,487 (-13%)	4mo	$250,000	$101	45

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: 36.2%
• Equity multiple: 2.54×
• Total profit: $85,729
• Equity at exit: $29,672

10-year hold

• IRR: 42.9%
• Equity multiple: 5.06×
• Total profit: $226,428
• Equity at exit: $17,206

Cash invested: $55,720 (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: 8.6×

Monthly cashflow live

• Estimated rent: $3,865 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$74 /mo · $885/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$812
• Net cashflow: $1,853

Break-even live

Break-even rent $1,519

Max offer price $199,000

Occupancy floor 47%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,866
Total (2 units)			$3,865

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $199,000 Active 36 DOM
2. 2026-06-17
   days on market $199,000 Active 35 DOM
3. 2026-06-16
   days on market $199,000 Active 34 DOM
4. 2026-06-15
   days on market $199,000 Active 33 DOM
5. 2026-06-13
   days on market $199,000 Active 31 DOM
6. 2026-06-13
   days on market $199,000 Active 30 DOM
7. 2026-06-10
   days on market $199,000 Active 28 DOM
8. 2026-06-09
   days on market $199,000 Active 27 DOM
9. 2026-06-08
   days on market $199,000 Active 26 DOM
10. 2026-06-07
    days on market $199,000 Active 25 DOM
11. 2026-06-03
    days on market $199,000 Active 21 DOM
12. 2026-06-02
    days on market $199,000 Active 20 DOM
13. 2026-06-01
    days on market $199,000 Active 19 DOM
14. 2026-05-31
    days on market $199,000 Active 18 DOM
15. 2026-05-13
    listed $199,000 Active 965-char remark
16. 2021-12-08
    soldstatus $120,000
17. 2021-07-08
    soldstatus $82,500
18. 1998-10-28
    soldstatus $51,177

ⓘ 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: $885 · $74/mo
• Projected year-2 tax: $2,124 · $177/mo
• Expected delta: +$1,239/yr (+$103/mo · 140.0%)

ⓘ 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: $46,380
• − Mortgage interest: −$11,147
• − Property taxes: −$885
• − Insurance: −$995
• − Repairs & maintenance: −$3,710
• − Management: −$3,710
• − Depreciation: −$5,789
• Taxable income: $20,143
• Est. tax owed @ 24.0%: −$4,834
• After-tax cash flow: $17,403/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

+288.8% since first listed

4 events — show timeline

• 2026-05-13 Listed $199,000 WNYREIS
• 2021-12-08 Sold (Public Records) $120,000 Public Records
• 2021-07-08 Sold (Public Records) $82,500 Public Records
• 1998-10-28 Sold (Public Records) $51,177 Public Records

Property tax history

+12.7%/yr

Latest (2025): $885 · +187.1% YoY. Source: county tax records.