216 Doat St · Buffalo, NY 14211

$185,000

6 bd · 2.0 ba · 2,340 sqft · MultiFamily public records · 37 Days on market

Built 1900 Est $190k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +8.6/15.0
• Appreciation +6.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great opportunity for the investor who wants to take on a project. Property needs renovation but has a lot of potential. Features some updated windows, full walk up attic with access from both apartments, dry basement, City parking lot next door for easy parking. Lower unit features a family room and a full covered porch.

Key facts

• New furnace
• New hot water tank
• Full basement

Tags

• FREE PARKING SPACE
• UPDATED ELECTRIC PLUMBING
• NEW ROOF
• NEW FURNACE
• NEW HOT WATER TANK
• FULL BASEMENT

Property features AI

Exterior

• Home design: Built in 1900
• Construction: Living area approximately 2340
• Exterior features: Located in the Schiller Park subdivision

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.0-bath units multifamily listed at $185k.

Deal economics

• At list price, monthly cash flow is $975 ($12k/yr) — positive. Per door: $488/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Recommended offer: $179k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.6% 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: 172 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 $2,607/mo this rent would consume 86% of the median local household income ($36k/yr) (locally 1804% 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 $5k of equity ($1k loan paydown + $4k appreciation (2.0% local appreciation)).
• At projected returns (2.0% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $50k; list at $185k implies a 270% 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 $179,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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: 1.41% ✓
• Cap rate: 12.62%
• Cash-on-cash: 22.59%
• DSCR: 2.01
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $189,540
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
227 Burgard Pl	0.11mi	7/3.0 (+1)	2,288 (-2%)	5mo	$185,000	$81	77
62 Sumner Pl	0.46mi	6/2.0	2,326 (-1%)	3mo	$143,000	$61	75
111 Fay St	0.43mi	6/2.0	2,410 (+3%)	1mo	$270,000	$112	74
229 Sprenger Ave	0.64mi	6/2.0	2,236 (-4%)	3mo	$142,000	$64	60
49 Newburgh Ave	0.47mi	6/2.0	2,208 (-6%)	10mo	$180,000	$82	60
110 Saint Louis Ave	0.68mi	6/2.0	2,400 (+3%)	7mo	$145,000	$60	58
61 Wex Ave	0.50mi	5/2.0 (-1)	2,473 (+6%)	6mo	$135,000	$55	57
373 Urban St	0.62mi	6/4.0	2,376 (+2%)	7mo	$280,000	$118	55
51 Randolph Ave	0.74mi	6/2.0	2,198 (-6%)	4mo	$235,101	$107	52
55 Keystone St	0.48mi	5/2.0 (-1)	2,068 (-12%)	8mo	$130,000	$63	46
89 Poplar Ave	0.45mi	5/2.0 (-1)	2,006 (-14%)	10mo	$250,000	$125	42
45 Cambridge Ave	0.63mi	5/2.0 (-1)	2,042 (-13%)	10mo	$62,000	$30	36

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

Projected returns pro-forma

2.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.9%
• Equity multiple: 2.45×
• Total profit: $75,174
• Equity at exit: $73,461

10-year hold

• IRR: 28.4%
• Equity multiple: 4.71×
• Total profit: $192,315
• Equity at exit: $106,165

Cash invested: $51,800 (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 14211

• Home prices YoY: 0.6%
• Active inventory: 172
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $2,607 high
• Mortgage (P&I): −$970
• Tax from tax record: −$37 /mo · $446/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$547
• Net cashflow: $975

Break-even live

Break-even rent $1,373

Max offer price $185,000

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1	$2,608
Total (2 units)			$2,607

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $185,000 Active 37 DOM
2. 2026-06-17
   days on market $185,000 Active 36 DOM
3. 2026-06-16
   days on market $185,000 Active 35 DOM
4. 2026-06-15
   days on market $185,000 Active 34 DOM
5. 2026-06-13
   days on market $185,000 Active 32 DOM
6. 2026-06-13
   days on market $185,000 Active 31 DOM
7. 2026-06-10
   days on market $185,000 Active 29 DOM
8. 2026-06-09
   days on market $185,000 Active 28 DOM
9. 2026-06-08
   days on market $185,000 Active 27 DOM
10. 2026-06-07
    days on market $185,000 Active 26 DOM
11. 2026-06-03
    days on market $185,000 Active 22 DOM
12. 2026-06-02
    days on market $185,000 Active 21 DOM
13. 2026-06-01
    days on market $185,000 Active 20 DOM
14. 2026-05-31
    days on market $185,000 Active 19 DOM
15. 2026-05-12
    listed $185,000 Active 396-char remark
16. 2019-11-15
    soldstatus $50,000 Closed Sale or Rented 323-char remark

    Show marketing remark (323 chars)

    Great opportunity for the investor who wants to take on a project. Property needs renovation but has a lot of potential. Features some updated windows, full walk up attic with access from both apartments, dry basement, City parking lot next door for easy parking. Lower unit features a family room and a full covered porch.

17. 2019-11-15
    soldstatus $50,000

    Show marketing remark (323 chars)

    Great opportunity for the investor who wants to take on a project. Property needs renovation but has a lot of potential. Features some updated windows, full walk up attic with access from both apartments, dry basement, City parking lot next door for easy parking. Lower unit features a family room and a full covered porch.

18. 2019-09-28
    status Under Contract- Do Not Show 323-char remark

    Show marketing remark (323 chars)

    Great opportunity for the investor who wants to take on a project. Property needs renovation but has a lot of potential. Features some updated windows, full walk up attic with access from both apartments, dry basement, City parking lot next door for easy parking. Lower unit features a family room and a full covered porch.

19. 2019-09-26
    status Pending Sale 323-char remark

    Show marketing remark (323 chars)

    Great opportunity for the investor who wants to take on a project. Property needs renovation but has a lot of potential. Features some updated windows, full walk up attic with access from both apartments, dry basement, City parking lot next door for easy parking. Lower unit features a family room and a full covered porch.

20. 2019-09-20
    listed $34,900 Active 323-char remark

    Show marketing remark (323 chars)

    Great opportunity for the investor who wants to take on a project. Property needs renovation but has a lot of potential. Features some updated windows, full walk up attic with access from both apartments, dry basement, City parking lot next door for easy parking. Lower unit features a family room and a full covered porch.

21. 2009-10-26
    soldstatus $20,000

ⓘ 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: $446 · $37/mo
• Projected year-2 tax: $1,786 · $149/mo
• Expected delta: +$1,340/yr (+$112/mo · 300.7%)

ⓘ 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 ≥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: $31,284
• − Mortgage interest: −$10,363
• − Property taxes: −$446
• − Insurance: −$925
• − Repairs & maintenance: −$2,503
• − Management: −$2,503
• − Depreciation: −$5,382
• Taxable income: $9,163
• Est. tax owed @ 24.0%: −$2,199
• After-tax cash flow: $9,502/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): 24,663
• Household income: $36,300
• Rent vs Own: 54.8% rent · 45.2% own
• Severe rent burden: 1804.0

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 0.60)
• Race & ethnicity: Black 59% Asian 20% Hispanic / Latino 9% White 9% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 4%
• Foreign-born: 17% · Canada, Philippines, Vietnam
• Languages at home: 74% English-only · Other Indo-European 14% Spanish 6% Other Asian/Pacific 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: ▲ 2.05%
• Current HPI: 357.6438
• 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

+825.0% since first listed

7 events — show timeline

• 2026-05-12 Listed $185,000 FSBO.com
• 2019-11-15 Sold (Public Records) $50,000 Public Records
• 2019-11-15 Sold (MLS) $50,000 WNYREIS
• 2019-09-28 Pending — WNYREIS
• 2019-09-26 Pending — WNYREIS
• 2019-09-20 Listed $34,900 WNYREIS
• 2009-10-26 Sold (Public Records) $20,000 Public Records

Property tax history

+11.9%/yr

Latest (2025): $446 · +72.9% YoY. Source: county tax records.