507 W Utica St · Buffalo, NY 14213

$79,999

3 bd · 1.0 ba · 1,080 sqft · SingleFamily · 5 Days on market

Built 1910 Poor condition 1,732 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.8/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.4/5.0
• Condition / age +1.0/5.0

Listing remarks

This property is a classic "diamond in the rough" located in the heart of the Five Points neighborhood, one of Buffalo’s most energetic and sought-after districts. Currently a 3-bedroom residence with coveted off-street parking via Rhode Island, this is more than just a renovation project; it’s a canvas for a visionary. The property is positioned within the N-2E zoning district, offering a rare flexibility that goes beyond a standard residential renovation or flip. This zoning supports a variety of high-density uses like commercial and mixed use. This property is located just steps away from celebrated cafes, bakeries, and independent shops that define the Five Points

Key facts

• N-2e zoning district
• Off-street parking
• High-density uses

Tags

• OFF-STREET PARKING
• N-2E ZONING DISTRICT
• HIGH-DENSITY USES
• COMMERCIAL AND MIXED USE
• STEPS AWAY FROM CAFES
• STEPS AWAY FROM BAKERIES

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Electricity available and connected; Water public, available and connected; Sewer connected
• Home design: Single-story (per listing); Resale fixer condition
• Construction: Aluminum siding; Stone exterior; Vinyl siding; Shingle roof; Pillar/post/pier foundation; Existing construction
• Exterior features: Concrete driveway; Irregular residential lot; City street frontage

Interior

• Kitchen: Kitchen on first level
• Bedrooms: Bedroom 1 on first level; Bedroom 2 on second level; Bedroom 3 on second level; One main-level bedroom
• Bathrooms: One full bathroom
• Heating & cooling: Gas heating
• Interior features: Living/dining room; Bedroom on main level; Crawl space basement
• Laundry & utility: Laundry on upper level; Gas water heater

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $774 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Cap rate 17.9% 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: Rents soft (-0.5%/yr); 138 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 37% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $7k of equity ($553 loan paydown + $6k appreciation (7.5% local appreciation)).
• At projected returns (7.5% appreciation + 0.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,999

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1910 — 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: 2.10% ✓
• Cap rate: 17.90%
• Cash-on-cash: 41.46%
• DSCR: 2.84
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $216,000
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
87 Brayton St	0.07mi	2/2.0 (-1)	1,025 (-5%)	2mo	$250,000	$244	77
341 Vermont St	0.21mi	2/1.0 (-1)	1,147 (+6%)	5mo	$245,000	$214	70
74 Baynes St	0.42mi	4/2.0 (+1)	1,075 (-0%)	4mo	$195,925	$182	68
431 Normal Ave	0.38mi	2/1.0 (-1)	1,076 (-0%)	20mo	$39,900	$37	60
19 Lawrence Pl	0.22mi	2/1.5 (-1)	1,242 (+15%)	0mo	$365,000	$294	58
11 S Putnam St	0.30mi	2/2.5 (-1)	1,073 (-1%)	22mo	$277,000	$258	56
56 Lawrence Pl	0.30mi	3/1.5	1,200 (+11%)	15mo	$240,000	$200	54
579 Breckenridge St	0.46mi	3/1.0	1,232 (+14%)	6mo	$345,000	$280	50
1061 Niagara St	0.72mi	3/1.0	1,183 (+10%)	5mo	$135,500	$115	46
9 Congress St	0.56mi	4/1.0 (+1)	1,200 (+11%)	8mo	$130,000	$108	44
375 Normal Ave	0.33mi	3/2.0	1,230 (+14%)	24mo	$207,000	$168	38

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

Projected returns pro-forma

7.51% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 50.9%
• Equity multiple: 4.34×
• Total profit: $74,876
• Equity at exit: $58,141

10-year hold

• IRR: 45.1%
• Equity multiple: 8.66×
• Total profit: $171,633
• Equity at exit: $112,982

Cash invested: $22,400 (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 14213

• Home prices YoY: 1.7%
• Rents YoY: -0.5%
• Active inventory: 138
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,680 high
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $774

Break-even live

Break-even rent $700

Max offer price $79,999

Occupancy floor 49%

Sensitivity live

Price	-10% $829	-5% $802	+0% $774	+5% $746	+10% $719
Rent	-10% $641	-5% $708	+0% $774	+5% $840	+10% $907
Rate	-1.0pp $814	-0.5pp $794	base $774	+0.5pp $753	+1.0pp $732

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
460 Rhode Island St Buffalo, NY	2.0	1.0	1089	$1,500	$1.38	15d	1	0.09mi
102 17th St Buffalo, NY	2.0	1.0	1086	$1,290	$1.19	24d	1	0.16mi
161 16th St Buffalo, NY	3.0	1.5	1500	$2,000	$1.33	24d	1	0.17mi
273 Richmond Ave Buffalo, NY	1.0–2.0	1.0–1.5	789	$1,819	$2.31	24d	1	0.19mi
217 Norwood Ave Apt 1 Buffalo, NY	2.0	1.0	1500	$2,700	$1.80	44d	1	0.25mi
256 14th St Unit 1 Buffalo, NY	2.0	1.0	800	$1,100	$1.38	15d	1	0.29mi
411 W Ferry St Buffalo, NY	2.0	1.0	900	$1,100	$1.22	15d	1	0.30mi
375 Hampshire St Buffalo, NY	3.0	1.0	1200	$1,100	$0.92	44d	1	0.30mi
346 Bryant St Buffalo, NY	2.0	1.0	792	$1,834	$2.32	4d	1	0.31mi
310 Hampshire St Apt 3 Buffalo, NY	3.0	1.0	1200	$1,500	$1.25	44d	1	0.35mi
305 W Utica St Unit B302 Buffalo, NY	2.0	2.0	1180	$2,060	$1.75	15d	1	0.36mi
118 Ashland Ave Buffalo, NY	3.0	1.0	1326	$1,850	$1.40	15d	1	0.36mi
367 Connecticut St Unit 2 Buffalo, NY	2.0	2.0	1150	$3,000	$2.61	11d	1	0.37mi
478 Breckenridge St Buffalo, NY	3.0	1.0	1100	$1,575	$1.43	44d	1	0.42mi
569 Elmwood Ave Buffalo, NY	2.0	1.0	1500	$1,750	$1.17	12d	1	0.43mi
31 Norwood Ave Unit 2 Buffalo, NY	3.0	1.0	1000	$1,950	$1.95	12d	1	0.45mi
67 Herkimer St Buffalo, NY	3.0	1.0	1000	$1,300	$1.30	15d	1	0.48mi
344 Elmwood Ave Unit 3rd floor Buffalo, NY	2.0	1.0	1000	$1,400	$1.40	24d	1	0.49mi
77 California St Unit 1 Buffalo, NY	2.0	1.0	800	$1,100	$1.38	44d	1	0.51mi
484 Ashland Ave Unit 9 Buffalo, NY	2.0	1.0	800	$1,250	$1.56	24d	1	0.58mi
279 North St Buffalo, NY	1.0–2.0	1.0–2.0	820	$2,050	$2.50	44d	1	0.58mi
213 Summer St Unit 3 Buffalo, NY	2.0	1.0	1020	$2,450	$2.40	22d	1	0.60mi
257 Lafayette Ave Apt 319 Buffalo, NY	2.0	1.0	900	$1,395	$1.55	24d	1	0.64mi
257 Lafayette Ave Unit 317 Buffalo, NY	2.0	1.0	897	$1,400	$1.56	24d	1	0.64mi
888 Delaware Ave Buffalo, NY	2.0	1.0–2.0	899	$2,440	$2.71	24d	1	0.68mi
196 Auburn Ave Buffalo, NY	3.0	1.0	1000	$1,300	$1.30	44d	1	0.68mi
916 Delaware Ave Buffalo, NY	2.0	1.0	750	$1,625	$2.17	4d	9	0.69mi
664 Auburn Ave Unit 2 Buffalo, NY	2.0	1.0	900	$2,200	$2.44	44d	1	0.71mi
685 Auburn Ave Buffalo, NY	2.0	1.0	1200	$1,600	$1.33	45d	1	0.71mi
685 Auburn Ave Unit 2 Buffalo, NY	3.0	1.0	1200	$1,750	$1.46	15d	1	0.71mi
1040 Delaware Ave Buffalo, NY	1.0–2.0	1.0	687	$1,500	$2.18	4d	4	0.72mi
88 W Utica St Unit 1 Buffalo, NY	3.0	2.0	990	$2,150	$2.17	15d	1	0.79mi
88 W Utica St Unit 1 Buffalo, NY	3.0	2.0	990	$2,150	$2.17	4d	1	0.79mi
344 Hudson St Unit UPPER Buffalo, NY	2.0	1.0	1065	$1,100	$1.03	44d	1	0.80mi
311 Herkimer St #1 Buffalo, NY	3.0	1.0	1272	$1,400	$1.10	15d	1	0.81mi
608 Niagara St Buffalo, NY	2.0	1.0	1200	$1,195	$1.00	15d	1	0.82mi
74 Days Park Unit 8 Buffalo, NY	2.0	1.0	1350	$1,695	$1.26	44d	1	0.82mi
130 Linwood Ave Buffalo, NY	2.0	1.0	900	$1,900	$2.11	24d	1	0.83mi
233 Pennsylvania St Unit 3 Buffalo, NY	2.0	1.0	1200	$1,350	$1.12	11d	1	0.83mi
163 W Delavan Ave Buffalo, NY	3.0	1.0	1000	$1,500	$1.50	24d	1	0.86mi

Listing history 2 events

1. 2026-05-06
   status Pending
2. 2026-05-01
   listed $79,999 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 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: $20,155
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$1,612
• − Management: −$1,612
• − Depreciation: −$2,327
• Taxable income: $8,522
• Est. tax owed @ 24.0%: −$2,045
• After-tax cash flow: $7,243/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

Poor 20/100 Extensive rehab

This property requires extensive renovation and repairs, including structural, electrical, and plumbing work. It presents a significant opportunity for a visionary investor to create a move-in-ready home in a sought-after neighborhood.

Repairs flagged

• Major Exposed wiring in kitchen — Safety hazard
• Major Exposed plumbing in bathroom — Safety hazard
• Major Exposed ductwork in HVAC — Safety hazard
• Major Damaged siding — Structural integrity
• Major Exposed subfloor — Structural integrity
• Major Peeling paint — Safety hazard
• Major Damaged fence — Safety hazard

Value-add opportunities

• Both New kitchen cabinets and countertops — Modernizes and increases functionality
• Both New bathroom fixtures and plumbing — Modernizes and increases functionality
• Both New HVAC system — Improves comfort and energy efficiency
• Both New siding and roof — Improves safety and structural integrity
• Both Painting and landscaping — Enhances curb appeal and safety

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed wiring in kitchen · Safety hazard	Major	$15,000–50,000
Exposed plumbing in bathroom · Safety hazard	Major	$15,000–50,000
Exposed ductwork in HVAC · Safety hazard	Major	$15,000–50,000
Damaged siding · Structural integrity	Major	$15,000–50,000
Exposed subfloor · Structural integrity	Major	$15,000–50,000
Peeling paint · Safety hazard	Major	$15,000–50,000
Damaged fence · Safety hazard	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both New kitchen cabinets and countertops — Modernizes and increases functionality ↑
• Both New bathroom fixtures and plumbing — Modernizes and increases functionality ↑
• Both New HVAC system — Improves comfort and energy efficiency ↑
• Both New siding and roof — Improves safety and structural integrity ↑
• Both Painting and landscaping — Enhances curb appeal and safety ↑

ⓘ 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): 24,107
• Household income: $53,870
• Rent vs Own: 60.5% rent · 39.5% own
• Severe rent burden: 1501.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 46% Hispanic / Latino 20% Black 18% Asian 12% Two or more races 10%
• Hispanic origin (detail): Mexican 1% Puerto Rican 16% Dominican 1%
• Common ancestry: Romanian 6% Slovak 3% Lithuanian 3%
• Foreign-born: 16% · Philippines, Canada, India
• Languages at home: 68% English-only · Spanish 12% Other Asian/Pacific 7% Arabic 3%

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: ▲ 7.51%
• Current HPI: 448.4879
• Rent YoY: ▼ -0.49%
• 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

2 events — show timeline

• 2026-05-06 Pending — WNYREIS
• 2026-05-01 Listed $79,999 WNYREIS