Is 75, 77, 79 Main St in Hamburg, NY a good investment?

CashFlowRE grades it B+ with a 9.8% cap rate and $2,790/mo modeled cash flow at a $950,000 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 75, 77, 79 Main St?

The modeled cap rate is 9.8% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $11,842/month, from CashFlowRE's rent model.

Multi-family

B+ Composite 75.84

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 +27.4/30.0
ARV discount +15.0/15.0
DSCR +9.6/10.0
1% rule +7.5/10.0
Schools +6.1/10.0
Livability +4.2/5.0
Rent growth +3.8/5.0
Condition / age +2.2/5.0
Appreciation +0.0/10.0

$950,000

75, 77, 79 Main St · Hamburg, NY 14075

7 bd · None ba · 12,608 sqft · MultiFamily · 100 Days on market

Built 1900 Fair condition 0.50 ac lot $75/sqft · 49% below area Est $1.86M · 49% under

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Multiple Use Property in the heart of the Village of Hamburg. This property features 2 storefronts, 2 buildings, 7 apartments and a 12-car parking lot. A recent grant to the Village of Hamburg allowed the 2 commercial units to get updated storefronts. Each commercial unit has long term tenants. There are 7 apartments, 3, 1 bedrooms and 4, 2 bedrooms. All units have their own heating units and most have separate utilities except water.

Key facts

2 buildings
2 storefronts
7 apartments

What this means for you Summary

Snapshot

This is a 7-bed/?-bath multifamily listed at $950k. Condition is rated fair.

Deal economics

At list price, monthly cash flow is $3k ($33k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($12k rent vs $950k).
Recommended offer: $864k (9.0% below list) — sets the bar for market timing.
Cap rate 9.8% vs local median 2.9% in Hamburg — 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 84/100 on livability (#43 in NY, #692 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: commute F.
Hamburg Central School District (suburban): math 46% / reading 66% proficiency, ranked #267 of 590 in NY (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
Zoned schools: Union Pleasant Avenue Elementary School (math 23% / reading 57%, grade F, #1,415 of 2,108 statewide, top 67%, 643 students, 23% FRL); Hamburg Middle School (math 31% / reading 63%, grade D+, #315 of 729 statewide, top 45%, 755 students, 24% FRL); Hamburg High School (math 94% / reading 97%, grade A+, #76 of 1,100 statewide, top 7%, 987 students, 19% FRL).
Market conditions: Rents rising fast (+5.2%/yr); 487 active listings in the ZIP; solid renter incomes; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
At $11,842/mo this rent would consume 170% of the median local household income ($83k/yr) — 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 $7k of loan paydown is wiped out by about $28k of value loss. Plan a longer hold.
At projected returns (-3.0% appreciation + 5.2% rent growth), your $266k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

It's been on market 100 days — a 9% lower offer ($864k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $864,500 (9.0% below list)

Questions for the listing agent

It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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.
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.
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: 1.25% ✓
Cap rate: 9.82%
Cash-on-cash: 12.59%
DSCR: 1.56
GRM: 6.7

CMA / ARV

ARV (median comp): $1,860,255
List price: $950,000
Delta: -48.93%
Verdict: UNDERPRICED
Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.21% rent growth · sell at horizon

5-year hold

IRR: 4.8%
Equity multiple: 1.19×
Total profit: $50,843
Equity at exit: $141,648

10-year hold

IRR: 16.2%
Equity multiple: 2.46×
Total profit: $389,352
Equity at exit: $82,139

Cash invested: $266,000 (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 14075

Rents YoY: 5.2%
Active inventory: 487
Price-to-rent: 40.5×

Monthly cashflow live

Estimated rent: $11,842 medium interval (Pro) →
Mortgage (P&I): −$4,982
Tax est. 1.5%: −$1,188 /mo · $14,250/yr
Insurance: −$396
HOA: −$0
Lot rent: −$0
Vacancy / Maint / Mgmt: −$2,487
Net cashflow: $2,790

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$5,868
#1	3	1	$1,956
#2	3	1	$1,956
#3	3	1	$1,956
▸ 4× units	1	1	$5,976
#4	1	1	$1,494
#5	1	1	$1,494
#6	1	1	$1,494
#7	1	1	$1,494
Total (7 units)			$11,842

Break-even live

Break-even rent $8,310

Max offer price $950,000

Occupancy floor 71%

Sensitivity live

Price	-10% $3,446	-5% $3,118	+0% $2,790	+5% $2,462	+10% $2,133
Rent	-10% $1,854	-5% $2,322	+0% $2,790	+5% $3,258	+10% $3,725
Rate	-1.0pp $3,268	-0.5pp $3,032	base $2,790	+0.5pp $2,544	+1.0pp $2,293

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: $237,500
Closing costs: $28,500
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35 W Crescent Ave Unit A Hamburg, NY	2.0	2.0	1420	$2,650	$1.87	57d	1	0.27mi
67 Huron St Unit 2 Hamburg, NY	2.0	1.0	1100	$1,475	$1.34	110d	1	0.66mi
11 Euclid Ave Hamburg, NY	1.0	1.0	3047	$900	$0.30	66d	1	0.70mi
5570 Camp Rd Hamburg, NY	2.0	1.0	812	$1,355	$1.67	0d	1	1.41mi
5546 Scranton Rd Hamburg, NY	2.0	1.0	799	$1,250	$1.56	0d	3	1.44mi

Property features AI

Finance

Other: Multi-unit property with 7 total unitsSeparate gas meters: 9Separate electric meters: 9
Financial info: Operating expenses include insurance, professional management, snow removal and waterOwner pays grounds care, snow removal and waterRent includes common area maintenance, snow removal and water

Exterior

Parking: One parking spaceDrivewayShared drivewayNo garage
Utilities: Electricity connected (circuit breakers and fuses)Public water connectedSewer connected
Home design: 2-story buildingResale property
Construction: Brick and frame constructionAttic/crawl hatchway(s) insulatedAsphalt, membrane and rubber roofing
Exterior features: Blacktop drivewayDeckNear public transitIrregular lotMain thoroughfare frontage

Interior

Kitchen: Gas ovenGas rangeRefrigerator
Flooring: HardwoodVinylVaries
Heating & cooling: Gas heatingBaseboard heatingForced air heating
Interior features: UnfurnishedFull basement with sump pump
Laundry & utility: Gas water heater

Listing history 50 events

2026-09-23

days on market $950,000 Active 100 DOM
2026-09-22

days on market $950,000 Active 99 DOM
2026-09-21

days on market $950,000 Active 98 DOM
2026-09-20

days on market $950,000 Active 97 DOM
2026-09-19

days on market $950,000 Active 96 DOM
2026-09-18

days on market $950,000 Active 95 DOM
2026-09-17

days on market $950,000 Active 94 DOM
2026-09-16

days on market $950,000 Active 93 DOM
2026-09-15

days on market $950,000 Active 92 DOM
2026-09-14

days on market $950,000 Active 91 DOM
2026-09-13

days on market $950,000 Active 90 DOM
2026-09-12

days on market $950,000 Active 89 DOM
2026-09-11

days on market $950,000 Active 88 DOM
2026-09-05

days on market $950,000 Active 82 DOM
2026-09-04

days on market $950,000 Active 81 DOM
2026-09-03

days on market $950,000 Active 80 DOM
2026-08-31

days on market $950,000 Active 77 DOM
2026-08-29

days on market $950,000 Active 75 DOM
2026-08-28

days on market $950,000 Active 74 DOM
2026-08-27

days on market $950,000 Active 73 DOM
2026-08-26

days on market $950,000 Active 72 DOM
2026-08-25

days on market $950,000 Active 71 DOM
2026-08-24

days on market $950,000 Active 70 DOM
2026-08-23

days on market $950,000 Active 69 DOM
2026-08-22

days on market $950,000 Active 68 DOM
2026-08-21

days on market $950,000 Active 67 DOM
2026-08-20

days on market $950,000 Active 66 DOM
2026-08-19

days on market $950,000 Active 65 DOM
2026-08-18

days on market $950,000 Active 64 DOM
2026-08-17

days on market $950,000 Active 63 DOM
2026-08-16

days on market $950,000 Active 62 DOM
2026-08-15

days on market $950,000 Active 61 DOM
2026-08-14

days on market $950,000 Active 60 DOM
2026-08-13

days on market $950,000 Active 59 DOM
2026-08-12

days on market $950,000 Active 58 DOM
2026-08-11

days on market $950,000 Active 57 DOM
2026-08-10

days on market $950,000 Active 56 DOM
2026-08-09

days on market $950,000 Active 55 DOM
2026-08-08

days on market $950,000 Active 54 DOM
2026-08-07

days on market $950,000 Active 53 DOM
2026-08-06

days on market $950,000 Active 52 DOM
2026-08-05

days on market $950,000 Active 51 DOM
2026-08-04

days on market $950,000 Active 50 DOM
2026-08-03

days on market $950,000 Active 49 DOM
2026-07-31

days on market $950,000 Active 46 DOM
2026-07-30

days on market $950,000 Active 44 DOM
2026-07-28

days on market $950,000 Active 43 DOM
2026-07-26

days on market $950,000 Active 41 DOM
2026-07-24

days on market $950,000 Active 39 DOM
2026-07-23

days on market $950,000 Active 38 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $142,104
− Mortgage interest: −$53,215
− Property taxes: −$14,250
− Insurance: −$4,750
− Repairs & maintenance: −$11,368
− Management: −$11,368
− Depreciation: −$27,636
Taxable income: $19,516

Your marginal tax rate % combined federal + state — saved on this device

Est. tax owed @ 24.0%: −$4,684
After-tax cash flow: $28,795/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab Est. rehab $315,200–$567,360 screening

A moderate rehab project is needed to update the exterior and interior of this multi-family property, which features 2 commercial units and 7 apartments. The property is located in the heart of the Village of Hamburg and has long-term tenants, making it a good investment opportunity.

Repairs flagged

Minor exterior paint — Some discoloration visible
Moderate interior updates — No interior photos provided

Value-add opportunities

Both exterior paint — Enhances curb appeal and property value ↑
Both interior updates — Improves living conditions and rental appeal ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 61/100

Zoned Schools

Elementary Union Pleasant Avenue Elementary School F NY #1,415/2,108 Nat'l #19,354/41,679 Middle Hamburg Middle School D+ NY #315/729 Nat'l #4,159/14,009 High Hamburg High School A+ NY #76/1,100 Nat'l #108/17,239

Schools (NCES district)

District: Hamburg Central School District
NCES district ID: 3613350
Math proficiency: 46% ▼ -26.00%
Reading proficiency: 66% ▲ 3.00%
Median HH income: $68,342
Composite: 49.43/100
National rank: #2006
State rank: #267 of 590 in NY

A Composite livability gradescore 84/100

Livability — Hamburg

Score: 84/100
State rank: #43
US rank: #692

Category grades

Amenities B Commute F Cost of living B- Crime C Employment A+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

Census place: Hamburg, NY
County: Erie County · 933,037 people
City population: 44,520
Metro: Buffalo-Cheektowaga, NY
Population (ZIP): 44,520
Household income: $83,383
Rent vs Own: 26.4% rent · 73.6% own
Severe rent burden: 13% of renters

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 White (92%)
Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3% Black 1%
Common ancestry: Romanian 20% Lithuanian 2% Slovak 2%
Foreign-born: 2% · Canada
Languages at home: 97% English-only · Spanish 1% Other Indo-European 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: ▼ -261.10%
Current HPI: 300.2852
Rent YoY: ▲ 5.21%
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
#11 JPMorgan Chase New York $278.9B #21 Citigroup New York $170.8B #32 Goldman Sachs New York $126.9B #40 Morgan Stanley New York $107.3B #42 StoneX Group New York $99.9B #58 American Express New York $74.2B #98 TIAA New York $46.9B #273 Mastercard Purchase $28.2B #328 M&T Bank Buffalo $8.8B #392 Voya Financial New York $7.8B
Consumer Goods	9	$162B
#45 PepsiCo Purchase $91.9B #171 Colgate-Palmolive New York $19.5B #207 Estee Lauder New York $15.6B #246 Constellation Brands Victor $10.2B #422 PVH Corp New York $8.6B #364 Tapestry New York $6.7B #420 Ralph Lauren New York $6.6B #460 Steven Madden Long Island City $2.2B #498 Prestige Consumer Healthcare Tarrytown $1.1B
Insurance	4	$225B
#60 MetLife New York $71.0B #69 New York Life Insurance New York $62.6B #99 Travelers Companies New York $46.4B #101 AIG New York $44.9B
Telecommunications	2	$144B
#30 Verizon Communications New York $134.8B #297 Altice USA Long Island City $9.1B
Pharmaceuticals	2	$112B
#67 Pfizer New York $63.6B #94 Bristol-Myers Squibb New York $48.3B
Media / Entertainment	2	$69B
#295 Warner Bros. Discovery New York $39.9B #269 Paramount Global New York $28.9B

Price history

1 event — show timeline

2026-06-15 Listed $950,000 WNYREIS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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