230 Miami St · Buffalo, NY 14204

$205,000

3 bd · 1.5 ba · 1,365 sqft · SingleFamily · 52 Days on market

Built 2025 Good condition 6,098 sqft lot

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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 +24.9/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Condition / age +4.0/5.0
• Rent growth +3.9/5.0
• Livability +3.9/5.0
• Appreciation +3.3/10.0
• Schools +3.3/10.0

Listing remarks

This newly constructed home features 3 bedrooms, 1.5 baths, and brand-new appliances—perfect for first-time buyers or those continuing their homeownership journey. Thoughtfully designed for modern living, the home offers comfort, efficiency, and a functional two-story layout. Located on a neighborhood street with convenient access to public transportation, this property provides both accessibility and a strong sense of community. PLEASE READ CAREFULLY: This is an income-restricted, owner-occupied opportunity. Buyers must meet program eligibility requirements. For application details, contact Belmont Housing Resources for WNY. Taxes are estimated based on a $205,000 sale price and 2027

Key facts

• Two-story layout
• Brand-new appliances
• 6,098 sq ft lot

Tags

• BRAND-NEW APPLIANCES
• TWO-STORY LAYOUT

Property features AI

Exterior

• Parking: No garage; No driveway
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: New construction two-story home
• Construction: Frame construction with vinyl siding; Copper plumbing; Asphalt roof; Poured foundation; Built as new construction
• Exterior features: Covered porch; Rectangular residential lot; Near public transit; City street frontage

Interior

• Kitchen: Electric oven; Electric range; Dishwasher; Microwave; Refrigerator
• Flooring: Carpet; Laminate; Varies
• Bathrooms: 1 full bathroom; 1 half bathroom; One main-level bathroom
• Heating & cooling: Ductless cooling; Ductless electric heating; Circuit breaker electrical panel
• Interior features: Living/dining room; Pull-down attic stairs
• Laundry & utility: Washer and dryer included; Laundry located on the upper level; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $205k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $375 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $205k).
• Recommended offer: $199k (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 rising fast (+5.5%/yr); 33 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 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 $2,353/mo this rent would consume 100% of the median local household income ($28k/yr) (locally 945% 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 $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $57k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($199k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $198,850 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.15% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.24%
• DSCR: 1.41
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $125,580
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
541 Perry St	0.26mi	3/1.0	1,367 (+0%)	15mo	$72,500	$53	73
136 Tennessee St	0.17mi	3/1.0	1,196 (-12%)	10mo	$75,000	$63	61
161 Oconnell Ave	0.23mi	3/1.5	1,232 (-10%)	16mo	$245,000	$199	59
404 Seneca St	0.56mi	3/1.5	1,461 (+7%)	17mo	$245,000	$168	48
530 Fulton St	0.50mi	3/1.5	1,484 (+9%)	18mo	$115,000	$77	47
823 Perry St	0.73mi	3/1.0	1,520 (+11%)	9mo	$140,000	$92	38
595 S Division St	0.71mi	3/2.0	1,508 (+10%)	22mo	$235,000	$156	29

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 · 5.48% rent growth · sell at horizon

5-year hold

• IRR: -1.4%
• Equity multiple: 0.94×
• Total profit: $-3,217
• Equity at exit: $30,566

10-year hold

• IRR: 10.8%
• Equity multiple: 1.95×
• Total profit: $54,269
• Equity at exit: $17,725

Cash invested: $57,400 (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 14204

• Home prices YoY: -1.1%
• Rents YoY: 5.5%
• Active inventory: 33
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,353 high
• Mortgage (P&I): −$1,075
• Tax est. 1.5%: −$256 /mo · $3,075/yr
• Insurance: −$85
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $375

Break-even live

Break-even rent $1,877

Max offer price $205,000

Occupancy floor 79%

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
225 Louisiana St Buffalo, NY	1.0–3.0	1.0–2.0	1164	$2,653	$2.28	1d	7	0.26mi
230 Scott St Buffalo, NY	1.0–2.0	1.0–2.0	1285	$2,325	$1.81	1d	4	0.49mi
901 S Park Ave Unit Lower Buffalo, NY	4.0	1.0	1729	$1,600	$0.93	23d	1	0.68mi
140 Seymour St Buffalo, NY	2.0	1.0	1300	$1,800	$1.38	23d	1	0.86mi
140 Seymour St Unit First Floor Buffalo, NY	2.0	1.0	1300	$1,800	$1.38	3d	1	0.86mi
149 Swan St #404 Buffalo, NY	2.0	2.0	1237	$2,050	$1.66	11d	1	0.86mi
149 Swan St #404 Buffalo, NY	2.0	2.0	1237	$2,100	$1.70	23d	1	0.86mi
237 Main St Buffalo, NY	1.0–3.0	1.5–2.5	1608	$4,035	$2.51	1d	9	1.06mi
298 Main St Buffalo, NY	2.0	2.0	1768	$3,400	$1.92	2d	1	1.13mi
130 Pearl St #304 Buffalo, NY	2.0	1.0	1010	$2,475	$2.45	23d	1	1.20mi
465 Washington St Buffalo, NY	1.0–2.0	1.0–2.0	1388	$2,285	$1.65	2d	5	1.29mi

Listing history 15 events

1. 2026-06-18
   days on market $205,000 Active 52 DOM
2. 2026-06-17
   days on market $205,000 Active 51 DOM
3. 2026-06-16
   days on market $205,000 Active 50 DOM
4. 2026-06-15
   days on market $205,000 Active 49 DOM
5. 2026-06-13
   days on market $205,000 Active 47 DOM
6. 2026-06-13
   days on market $205,000 Active 46 DOM
7. 2026-06-10
   days on market $205,000 Active 44 DOM
8. 2026-06-09
   days on market $205,000 Active 43 DOM
9. 2026-06-08
   days on market $205,000 Active 42 DOM
10. 2026-06-07
    days on market $205,000 Active 41 DOM
11. 2026-06-03
    days on market $205,000 Active 37 DOM
12. 2026-06-02
    days on market $205,000 Active 36 DOM
13. 2026-06-01
    days on market $205,000 Active 35 DOM
14. 2026-05-31
    days on market $205,000 Active 34 DOM
15. 2026-04-27
    listed $205,000 Active

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 77% 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: $28,231
• − Mortgage interest: −$11,483
• − Property taxes: −$3,075
• − Insurance: −$1,822
• − Repairs & maintenance: −$2,259
• − Management: −$2,259
• − Depreciation: −$5,964
• Taxable income: $1,370
• Est. tax owed @ 24.0%: −$329
• After-tax cash flow: $4,176/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 · 12 photos

Good 80/100 Cosmetic rehab

This newly constructed home offers a modern and functional two-story layout with updated appliances and fresh finishes, making it an attractive option for first-time buyers or investors looking to add to their portfolio.

Value-add opportunities

• Both landscaping — improves curb appeal and adds value
• Both furniture — enhances living space and makes it move-in ready

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — improves curb appeal and adds value ↑
• Both furniture — enhances living space and makes it move-in ready ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 7,932
• Household income: $28,182
• Rent vs Own: 73.5% rent · 26.5% own
• Severe rent burden: 945.0

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 58% White 19% Hispanic / Latino 18% Two or more races 4%
• Hispanic origin (detail): Puerto Rican 14% Dominican 1%
• Common ancestry: Romanian 2% Subsaharan African 1%
• Foreign-born: 6% · Canada
• Languages at home: 81% English-only · Spanish 14% French/Haitian/Cajun 2% Russian/Polish/Slavic 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: ▼ -3.36%
• Current HPI: 312.6232
• Rent YoY: ▲ 5.48%
• 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

1 event — show timeline

• 2026-04-27 Listed $205,000 WNYREIS