155 Park St · Buffalo, NY 14201

$349,999

6 bd · 2.0 ba · 2,652 sqft · MultiFamily public records · 16 Days on market

Built 1880 3,650 sqft lot Est $302k · 16% 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 +28.2/30.0
• DSCR +10.0/10.0
• 1% rule +6.5/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• ARV discount +0.4/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Welcome to 155 Park Street in the City of Buffalo, ideally located in the heart of the vibrant Allentown district. Just steps from Allen Street, enjoy immediate access to some of Buffalo’s most popular restaurants, coffee shops, nightlife, and cultural attractions, all while being tucked away on a residential street that offers a sense of neighborhood charm. This well-maintained two-unit property features spacious upper and lower apartments, each offering 3 bedrooms and 1 full bath. Both units provide comfortable layouts with generous living space, making this an excellent opportunity for both owner-occupants and investors alike. Live in one unit and offset your mortgage with rental i

Key facts

• Major thruways
• Local amenities
• 2 parking spots

Tags

• SOLID RENTAL POTENTIAL
• SEPARATE LIVING SPACES
• CLASSIC BUFFALO ARCHITECTURE
• LOCAL AMENITIES
• PUBLIC TRANSPORTATION
• MAJOR THRUWAYS

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Recommended offer: $345k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 8.0% in Buffalo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 rising fast (+4.3%/yr); 56 active listings in the ZIP; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $4,042/mo this rent would consume 120% of the median local household income ($41k/yr) (locally 1213% 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $98k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $344,749 (1.5% below list)

Questions for the listing agent

1. Built in 1880 — 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: 1.15% ✓
• Cap rate: 10.09%
• Cash-on-cash: 13.57%
• DSCR: 1.60
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $302,328
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
157 Park St	0.01mi	5/3.0 (-1)	2,644 (-0%)	11mo	$661,000	$250	81
324 West Ave	0.58mi	6/2.0	2,652 (0%)	5mo	$312,500	$118	69
26 York St	0.65mi	6/2.0	2,519 (-5%)	1mo	$199,900	$79	60
348 Virginia St	0.37mi	6/4.0	2,882 (+9%)	2mo	$328,000	$114	59
58 Mariner St	0.23mi	6/2.0	3,017 (+14%)	10mo	$314,150	$104	58
383 Summer St	0.44mi	5/2.0 (-1)	2,468 (-7%)	6mo	$492,000	$199	58
215 Normal Ave	0.72mi	5/2.0 (-1)	2,626 (-1%)	7mo	$294,000	$112	54
286 Hudson St	0.45mi	6/2.0	2,860 (+8%)	16mo	$307,000	$107	52
545 Niagara St	0.71mi	5/2.0 (-1)	2,506 (-6%)	12mo	$120,000	$48	43
168 Ashland Ave	0.59mi	6/2.0	2,360 (-11%)	14mo	$440,000	$186	42
114 Whitney Pl	0.62mi	5/2.0 (-1)	2,452 (-8%)	14mo	$320,000	$131	42
32 10th St	0.58mi	6/3.0	2,254 (-15%)	21mo	$121,000	$54	26

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 · 4.28% rent growth · sell at horizon

5-year hold

• IRR: 4.9%
• Equity multiple: 1.19×
• Total profit: $18,996
• Equity at exit: $52,186

10-year hold

• IRR: 15.4%
• Equity multiple: 2.32×
• Total profit: $129,049
• Equity at exit: $30,262

Cash invested: $98,000 (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 14201

• Home prices YoY: -19.1%
• Rents YoY: 4.3%
• Active inventory: 56
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $4,042 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$104 /mo · $1,244/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$849
• Net cashflow: $1,108

Break-even live

Break-even rent $2,639

Max offer price $349,999

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,042
Total (2 units)			$4,042

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-18
   status Pending
2. 2026-04-13
   historical Active Under Contract
3. 2026-04-02
   listed $349,999 Active

ⓘ 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: $1,244 · $104/mo
• Projected year-2 tax: $3,580 · $298/mo
• Expected delta: +$2,335/yr (+$195/mo · 187.7%)

ⓘ 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 ≥91°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,504
• − Mortgage interest: −$19,605
• − Property taxes: −$1,244
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,880
• − Management: −$3,880
• − Depreciation: −$10,182
• Taxable income: $7,962
• Est. tax owed @ 24.0%: −$1,911
• After-tax cash flow: $11,388/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): 12,369
• Household income: $40,512
• Rent vs Own: 76.4% rent · 23.6% own
• Severe rent burden: 1213.0

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 0.66)
• Race & ethnicity: White 42% Hispanic / Latino 36% Black 16% Two or more races 12% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 30% Dominican 1%
• Common ancestry: Romanian 7% Subsaharan African 2% Slovak 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 69% English-only · Spanish 24% Arabic 2% 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: ▼ -68.73%
• Current HPI: 290.2643
• Rent YoY: ▲ 4.28%
• 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

• 2026-04-18 Pending — WNYREIS
• 2026-04-13 Contingent — WNYREIS
• 2026-04-02 Listed $349,999 WNYREIS

Property tax history

+2.7%/yr

Latest (2025): $1,244 · +0.0% YoY. Source: county tax records.