44 Moreland St · Buffalo, NY 14206

$175,000

5 bd · 2.0 ba · 1,772 sqft · MultiFamily public records · 22 Days on market

Built 1910 3,330 sqft lot Est $142k · 23% over

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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 +24.5/30.0
• Appreciation +9.0/10.0
• DSCR +7.9/10.0
• 1% rule +6.3/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Exceptional duplex investment in Lovejoy neighborhood! This side-by-side, townhouse-style multi-family property offers strong cash flow potential with a projected 10%+cap rate based on conservative pro forma rents of $900/$1,100~ideal for investors or owner-occupants. Each unit features separate utilities in-unit laundry, and two full levels of living space ~ high demand features for today's tenants. Conveniently located near public transportation, making commuting east and increasing rental appeal. The front unit includes a covered front porch entry foyer, high ceilings, new vinyl flooring, a flexible first-floor bedroom or office, full bath, laundry area, and a bright kitchen. The second

Key facts

• Covered front porch
• Separate utilities
• Duplex investment

Tags

• DUPLEX INVESTMENT
• TOWNHOUSE STYLE
• SEPARATE UTILITIES
• IN UNIT LAUNDRY
• COVERED FRONT PORCH
• FLEXIBLE FIRST FLOOR BEDROOM

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $360 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $172k (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: 169 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $1,986/mo this rent would consume 47% of the median local household income ($50k/yr) (locally 841% 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 $15k of equity ($1k loan paydown + $14k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $24k; list at $175k implies a 614% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,375 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — 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 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: 1.13% ✓
• Cap rate: 8.76%
• Cash-on-cash: 8.81%
• DSCR: 1.39
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $141,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1362 Bailey Ave	0.11mi	4/2.0 (-1)	1,892 (+7%)	5mo	$197,081	$104	74
227 Ashley St	0.47mi	5/2.0	1,776 (+0%)	5mo	$145,000	$82	74
362 Davey St	0.51mi	5/2.0	1,640 (-7%)	2mo	$92,000	$56	62
115 Greene St	0.24mi	5/3.0	1,968 (+11%)	6mo	$165,000	$84	62
117 Quincy St	0.57mi	4/2.0 (-1)	1,728 (-2%)	4mo	$90,000	$52	61
30 N Ogden St	0.60mi	4/4.0 (-1)	1,775 (+0%)	3mo	$157,000	$88	56
100 Davey St	0.48mi	6/2.0 (+1)	1,680 (-5%)	12mo	$135,000	$80	54
34 Schiller St	0.65mi	4/2.0 (-1)	1,670 (-6%)	8mo	$95,000	$57	48
21 Liddell St	0.57mi	6/1.5 (+1)	1,610 (-9%)	5mo	$53,000	$33	47
86 Shepard St	0.61mi	5/2.0	2,024 (+14%)	2mo	$165,000	$82	46
33 Schiller St	0.67mi	4/2.0 (-1)	1,922 (+8%)	5mo	$60,000	$31	46
112 Liddell St	0.71mi	5/2.0	2,031 (+15%)	6mo	$65,000	$32	37

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

Projected returns pro-forma

8.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.9%
• Equity multiple: 2.95×
• Total profit: $95,674
• Equity at exit: $133,648

10-year hold

• IRR: 24.2%
• Equity multiple: 6.32×
• Total profit: $260,659
• Equity at exit: $265,955

Cash invested: $49,000 (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 14206

• Home prices YoY: 1.8%
• Active inventory: 169
• Price-to-rent: 14.7×

Monthly cashflow live

• Estimated rent: $1,986 high
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $360

Break-even live

Break-even rent $1,531

Max offer price $175,000

Occupancy floor 77%

Sensitivity live

Price	-10% $480	-5% $420	+0% $360	+5% $299	+10% $239
Rent	-10% $203	-5% $281	+0% $360	+5% $438	+10% $516
Rate	-1.0pp $448	-0.5pp $404	base $360	+0.5pp $314	+1.0pp $268

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$1,986
Total (2 units)			$1,986

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
979 Walden Ave Buffalo, NY	4.0	3.0	1793	$2,000	$1.12	2d	1	1.25mi
14 Rutland Ave Buffalo, NY	4.0	1.0	1430	$2,200	$1.54	11d	1	1.37mi

Listing history 7 events

1. 2026-04-22
   status Pending
2. 2026-03-31
   listed $175,000 Active
3. 2022-08-19
   status Under Contract- Do Not Show
4. 2022-08-18
   historical
5. 2022-08-05
   listed $99,900 Active
6. 2017-07-27
   soldstatus $24,500
7. 1993-12-30
   soldstatus $64,000

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°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: $23,832
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$1,907
• − Management: −$1,907
• − Depreciation: −$5,091
• Taxable income: $1,625
• Est. tax owed @ 24.0%: −$390
• After-tax cash flow: $3,925/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): 21,631
• Household income: $50,450
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 841.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 13% Black 12% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10%
• Common ancestry: Romanian 25% Lithuanian 1% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Arabic 2%

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: ▲ 8.06%
• Current HPI: 457.3935
• 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

+173.4% since first listed

7 events — show timeline

• 2026-04-22 Pending — WNYREIS
• 2026-03-31 Listed $175,000 WNYREIS
• 2022-08-19 Pending — UNYREIS
• 2022-08-18 Listing Removed — UNYREIS
• 2022-08-05 Listed $99,900 UNYREIS
• 2017-07-27 Sold (Public Records) $24,500 Public Records
• 1993-12-30 Sold (Public Records) $64,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $263 · +0.0% YoY. Source: county tax records.