35 Moreland St · Buffalo, NY 14206

$79,900

3 bd · 1.0 ba · 1,144 sqft · SingleFamily public records · 49 Days on market

Built 1920 3,600 sqft lot Est $157k · 49% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Calling all investors and rehabbers!!! Here’s your next project in the heart of Buffalo’s Bailey-Lovejoy neighborhood! This 3-bedroom, 1-bath single-family home offers 1,144 sqft of potential on a manageable 3,600 sqft lot with a detached garage for added value. Estate sale – priced accordingly and sold as-is. There will be no interior showings — condition is unknown, but the opportunity is clear. Perfect for your next flip or rental addition in a growing area with solid rental demand.

Key facts

• Solid rental demand
• Detached garage
• 3,600 sq ft lot

Tags

• DETACHED GARAGE
• SOLID RENTAL DEMAND

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $581 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.0% 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: 169 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 32% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $7k of equity ($552 loan paydown + $6k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, 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 49 days — a 3% lower offer ($78k) 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $77,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 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: 1.68% ✓
• Cap rate: 15.02%
• Cash-on-cash: 31.18%
• DSCR: 2.39
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $156,728
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 Regent St	0.14mi	3/2.0	1,138 (-0%)	6mo	$110,000	$97	84
74 Vanderbilt St	0.34mi	3/1.0	1,136 (-1%)	3mo	$105,000	$92	81
391 Greene St	0.40mi	3/1.0	1,144 (0%)	2mo	$200,000	$175	80
29 Bogardus St	0.12mi	3/1.0	1,092 (-4%)	10mo	$150,000	$137	78
324 Ideal St	0.34mi	4/2.0 (+1)	1,092 (-4%)	6mo	$195,000	$179	62
67 Gold St	0.48mi	3/2.0	1,183 (+3%)	8mo	$103,500	$87	61
379 N Ogden St Unit E	0.66mi	3/1.0	1,083 (-5%)	3mo	$160,000	$148	58
136 Benzinger St	0.34mi	3/1.0	1,266 (+11%)	10mo	$140,000	$111	58
212 Wagner Ave	0.73mi	3/1.0	1,166 (+2%)	12mo	$205,000	$176	53
402 Benzinger St	0.50mi	2/1.0 (-1)	1,269 (+11%)	9mo	$125,500	$99	46
226 Davey St	0.44mi	4/2.0 (+1)	1,314 (+15%)	10mo	$213,000	$162	38
131 Hirschbeck St	0.71mi	3/1.0	993 (-13%)	9mo	$111,550	$112	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: 45.1%
• Equity multiple: 4.14×
• Total profit: $70,213
• Equity at exit: $61,020

10-year hold

• IRR: 40.4%
• Equity multiple: 8.87×
• Total profit: $176,168
• Equity at exit: $121,428

Cash invested: $22,372 (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: 5.0×

Monthly cashflow live

• Estimated rent: $1,342 high
• Mortgage (P&I): −$419
• Tax from tax record: −$26 /mo · $314/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $581

Break-even live

Break-even rent $606

Max offer price $79,900

Occupancy floor 52%

Sensitivity live

Price	-10% $627	-5% $604	+0% $581	+5% $559	+10% $536
Rent	-10% $475	-5% $528	+0% $581	+5% $634	+10% $687
Rate	-1.0pp $622	-0.5pp $602	base $581	+0.5pp $561	+1.0pp $540

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1150 Bailey Ave Buffalo, NY	4.0	1.5	1100	$1,200	$1.09	24d	1	0.31mi
1777 Broadway Unit 2 Buffalo, NY	3.0	1.0	1300	$1,200	$0.92	44d	1	0.54mi
67 Moeller St Unit LOWER Buffalo, NY	3.0	1.0	960	$1,200	$1.25	24d	1	1.41mi
67 Moeller St Unit UPPER Buffalo, NY	3.0	1.0	960	$1,000	$1.04	4d	1	1.41mi
14 Rutland Ave Buffalo, NY	4.0	1.0	1430	$2,200	$1.54	11d	1	1.43mi
24 Euclid Ave Buffalo, NY	3.0	2.0	1150	$1,700	$1.48	44d	1	1.46mi

Listing history 4 events

1. 2025-12-04
   status Pending
2. 2025-11-12
   status Active
3. 2025-11-04
   status Pending
4. 2025-10-07
   listed $79,900 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: $314 · $26/mo
• Projected year-2 tax: $832 · $69/mo
• Expected delta: +$518/yr (+$43/mo · 165.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% 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: $16,098
• − Mortgage interest: −$4,476
• − Property taxes: −$314
• − Insurance: −$400
• − Repairs & maintenance: −$1,288
• − Management: −$1,288
• − Depreciation: −$2,324
• Taxable income: $6,009
• Est. tax owed @ 24.0%: −$1,442
• After-tax cash flow: $5,534/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

4 events — show timeline

• 2025-12-04 Pending — WNYREIS
• 2025-11-12 Relisted — WNYREIS
• 2025-11-04 Pending — WNYREIS
• 2025-10-07 Listed $79,900 WNYREIS

Property tax history

+7.1%/yr

Latest (2025): $314 · +0.0% YoY. Source: county tax records.