148 Deerfield Ave · Buffalo, NY 14215

$174,900

4 bd · 1.0 ba · 1,577 sqft · SingleFamily public records · 42 Days on market

Built 1920 3,875 sqft lot $111/sqft · 12% below area Est $199k · 12% 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 +24.2/30.0
• ARV discount +12.9/15.0
• DSCR +7.8/10.0
• 1% rule +5.0/10.0
• 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

Listing remarks

This is a great property which is presently rented with very good paying tenant. This home has a Beautiful beautiful wood work through out , solid 3 bedrooms , 1 full bath Single family house located in a decent neighborhood near Kensington ave , parallel and close to bailey ave. There is a decent space to make 4th bedroom and a full bath. The new layer of shingles was recently done, most of the windows are new. Hardwood floor through out. Decent size bedrooms and Kitchen. The house has clean foundation and solid basement. Nice wide driveway , decent size backyard. It has a great tenant living with rent $1300/month , paying without hazzle. This is a great investment opportunity and could be

Key facts

• 3,875 sq ft lot
• 2 garage spots
• Built 1920

Property features AI

Exterior

• Parking: No garage (2 garage spaces listed separately)
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: One-story existing home; Composite siding; Block foundation
• Construction: Composite siding construction; Block foundation; Existing (previously built)
• Exterior features: Concrete driveway; Pie-shaped residential lot; Near public transit; City street frontage; Lot dimensions roughly 31 x 125

Interior

• Bedrooms: Two main-level bedrooms
• Flooring: Hardwood and varied flooring
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Gas forced-air heating
• Interior features: Living/dining room configuration; Sunroom / Florida room; Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $349 ($4k/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 $174k (0.4% below list).
• Recommended offer: $170k (3.0% 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: Rents flat; 237 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $1,742/mo this rent would consume 46% 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.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $60k; list at $175k implies a 192% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $169,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% 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: 1.00% ✗
• Cap rate: 8.69%
• Cash-on-cash: 8.56%
• DSCR: 1.38
• GRM: 8.4

CMA / ARV

• ARV (median comp): $198,932
• List price: $174,900
• Delta: -12.08%
• 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
127 Durham Ave	0.06mi	3/1.0 (-1)	1,550 (-2%)	1mo	$216,000	$139	88
65 Deerfield Ave	0.16mi	5/1.5 (+1)	1,621 (+3%)	6mo	$170,000	$105	76
51 Sussex St	0.04mi	4/2.0	1,465 (-7%)	7mo	$251,000	$171	76
323 Grider St	0.23mi	4/2.0	1,418 (-10%)	1mo	$128,000	$90	68
316 Wyoming Ave	0.25mi	3/1.0 (-1)	1,474 (-6%)	8mo	$148,000	$100	66
353 Warwick Ave	0.62mi	3/1.0 (-1)	1,611 (+2%)	1mo	$161,800	$100	61
597 Norfolk Ave	0.52mi	3/1.0 (-1)	1,490 (-6%)	4mo	$160,000	$107	58
368 Northumberland Ave	0.33mi	3/1.0 (-1)	1,420 (-10%)	8mo	$125,000	$88	56
624 Kensington Ave	0.39mi	4/1.5	1,742 (+10%)	8mo	$95,000	$55	56
31 Worcester Pl	0.42mi	5/1.0 (+1)	1,452 (-8%)	9mo	$105,000	$72	54
78 Alma Ave	0.59mi	5/3.0 (+1)	1,690 (+7%)	8mo	$168,000	$99	41
635 Norfolk Ave	0.56mi	3/1.0 (-1)	1,340 (-15%)	5mo	$172,500	$129	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: -5.7%
• Equity multiple: 0.79×
• Total profit: $-10,176
• Equity at exit: $26,078

10-year hold

• IRR: 1.2%
• Equity multiple: 1.08×
• Total profit: $3,802
• Equity at exit: $15,122

Cash invested: $48,972 (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: 8.4×

Monthly cashflow live

• Estimated rent: $1,742 high
• Mortgage (P&I): −$917
• Tax from tax record: −$37 /mo · $443/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $349

Break-even live

Break-even rent $1,300

Max offer price $174,900

Occupancy floor 75%

Sensitivity live

Price	-10% $448	-5% $399	+0% $349	+5% $300	+10% $250
Rent	-10% $212	-5% $280	+0% $349	+5% $418	+10% $487
Rate	-1.0pp $437	-0.5pp $394	base $349	+0.5pp $304	+1.0pp $258

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
74 Dorris Ave Buffalo, NY	3.0	1.0	1200	$1,450	$1.21	44d	1	0.58mi
25 Parkridge Ave Buffalo, NY	3.0	1.0	1914	$1,350	$0.71	15d	1	0.72mi
563 Humboldt Pkwy Buffalo, NY	3.0	1.0	2004	$1,200	$0.60	24d	1	0.97mi
73 Inter Park Ave Buffalo, NY	3.0	1.0	2080	$1,300	$0.62	15d	1	1.00mi
179 Donaldson Rd Buffalo, NY	3.0	1.0	1152	$1,350	$1.17	3d	1	1.08mi
517 Goodyear Ave Buffalo, NY	3.0	1.0	1559	$1,800	$1.15	19d	1	1.11mi
184 Butler Ave Unit 1545840P Buffalo, NY	4.0	1.0	1496	$3,226	$2.16	15d	1	1.14mi
76 Vernon Pl Unit Upper Buffalo, NY	3.0	1.0	1190	$1,595	$1.34	15d	1	1.18mi
76 Vernon Pl Unit Lower Buffalo, NY	3.0	1.0	1190	$1,445	$1.21	15d	1	1.18mi
117 Humboldt Pkwy Unit A Buffalo, NY	3.0	1.0	1105	$2,300	$2.08	44d	1	1.34mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,997	$2.93	2d	10	1.34mi
202 Summit Ave Unit 1 Buffalo, NY	3.0	1.0	2000	$2,400	$1.20	24d	1	1.38mi
263 Minnesota Ave Unit Upper Buffalo, NY	3.0	1.0	1242	$1,500	$1.21	15d	1	1.44mi
189 Westminster Ave Buffalo, NY	4.0	1.5	1065	$1,595	$1.50	11d	1	1.46mi
102 Florida St Buffalo, NY	3.0	1.0	1296	$1,650	$1.27	44d	1	1.48mi
65 Domedion Ave Buffalo, NY	3.0	1.0	1632	$1,500	$0.92	2d	1	1.49mi

Listing history 17 events

1. 2026-06-18
   days on market $174,900 Active 42 DOM
2. 2026-06-17
   days on market $174,900 Active 41 DOM
3. 2026-06-16
   days on market $174,900 Active 40 DOM
4. 2026-06-15
   days on market $174,900 Active 39 DOM
5. 2026-06-13
   days on market $174,900 Active 37 DOM
6. 2026-06-13
   days on market $174,900 Active 36 DOM
7. 2026-06-10
   days on market $174,900 Active 34 DOM
8. 2026-06-09
   days on market $174,900 Active 33 DOM
9. 2026-06-08
   days on market $174,900 Active 32 DOM
10. 2026-06-07
    days on market $174,900 Active 31 DOM
11. 2026-06-03
    days on market $174,900 Active 27 DOM
12. 2026-06-02
    days on market $174,900 Active 26 DOM
13. 2026-06-01
    days on market $174,900 Active 25 DOM
14. 2026-05-31
    days on market $174,900 Active 24 DOM
15. 2026-05-07
    listed $174,900 Active 736-char remark
16. 2025-09-07
    listed $179,900 Active
17. 2021-09-14
    soldstatus $60,000

ⓘ 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: $443 · $37/mo
• Projected year-2 tax: $1,699 · $142/mo
• Expected delta: +$1,257/yr (+$105/mo · 284.0%)

ⓘ 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: $20,904
• − Mortgage interest: −$9,797
• − Property taxes: −$443
• − Insurance: −$874
• − Repairs & maintenance: −$1,672
• − Management: −$1,672
• − Depreciation: −$5,088
• Taxable income: $1,357
• Est. tax owed @ 24.0%: −$326
• After-tax cash flow: $3,865/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

+191.5% since first listed

3 events — show timeline

• 2026-05-07 Listed $174,900 WNYREIS
• 2025-09-07 Listed $179,900 WNYREIS
• 2021-09-14 Sold (Public Records) $60,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $443 · +92.6% YoY. Source: county tax records.