674 Jefferson Ave · Buffalo, NY 14204

$179,900

5 bd · 2.0 ba · 1,904 sqft · MultiFamily public records · 11 Days on market

Built 1915 4,710 sqft lot $94/sqft · 37% above area Est $131k · 37% 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 +23.2/30.0
• DSCR +7.4/10.0
• 1% rule +6.0/10.0
• Rent growth +3.9/5.0
• Livability +3.9/5.0
• Appreciation +3.3/10.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks MLS

Vacant, Listing Broker Only Showing Time/Appointment Service; Online Showing Service, PLEASE use Showing Time to schedule all appointments. 24 Hour notice prior to all showings. Property is being sold AS IS. Seller will do NO repairs as a result of a home inspection. Check out this property in the UPCOMING DOWNTOWN BUFFALO AREA!! This property is in a group with the following properties MLS#B1408381 and MLS#B1408566. OWNER WOULD PREFER TO SELL ALL PROPERTIES AS A PACKAGE BUT IS WILLING TO SELL THEM INDIVIDUALLY. PLEASE FOLLOW ALL CDC AND COVID-19 SHOWING GUIDELINES. All information is deemed reliable but not guaranteed. Showings begin immediately. Offers will be reviewed as they come in. All offers MUST have sufficient proof funds (dated within 30 days and enough funds to cover the purchase price) Compensation for MLS members only and is based on sale price minus any credits or concessions.

Key facts

• Updated kitchens
• Spacious units
• Remodeled bathrooms

Tags

• RENOVATED MULTI-FAMILY
• SPACIOUS UNITS
• UPDATED KITCHENS
• REMODELED BATHROOMS
• IMPROVED MAJOR SYSTEMS
• CLOSE TO DOWNTOWN BUFFALO

Property features AI

Finance

• Other: Property is a 2-unit building with separate gas and electric meters for each unit
• Financial info: Owner pays water (rent includes water); Operating expenses include water/sewer (multi-unit)

Exterior

• Parking: Concrete parking surface
• Utilities: Public water connected; Sewer connected
• Home design: 2-story residence; Resale property
• Construction: Wood siding; PEX plumbing; Block foundation; Asphalt roof; Existing structure (year built: existing)
• Exterior features: Fully fenced yard; Near public transit; Rectangular residential lot; City street frontage

Interior

• Flooring: Tile; Vinyl; Varies
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Accessible doors; Partial basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $324 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).

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; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $1,984/mo this rent would consume 84% 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 $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $50k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 4y 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 $180k implies a 260% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $179,900

Questions for the listing agent

1. Built in 1915 — 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: 1.10% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.73%
• DSCR: 1.34
• GRM: 7.6

CMA / ARV

• ARV (median comp): $130,942
• List price: $179,900
• Delta: 52.66%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
443 Madison St	0.10mi	5/2.0	1,892 (-1%)	8mo	$75,000	$40	87
324 Carlton St	0.38mi	4/2.0 (-1)	1,947 (+2%)	4mo	$66,100	$34	70
41 Pershing Ave	0.57mi	4/2.0 (-1)	1,938 (+2%)	17mo	$145,000	$75	51
236 Grey St	0.36mi	4/2.0 (-1)	2,106 (+11%)	12mo	$175,000	$83	50
131 Locust St	0.42mi	4/2.0 (-1)	1,772 (-7%)	23mo	$195,000	$110	44
38 Fox St	0.41mi	6/2.0 (+1)	2,172 (+14%)	23mo	$65,000	$30	33

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: -1.7%
• Equity multiple: 0.93×
• Total profit: $-3,380
• Equity at exit: $26,824

10-year hold

• IRR: 10.5%
• Equity multiple: 1.91×
• Total profit: $45,699
• Equity at exit: $15,554

Cash invested: $50,372 (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 14204

• Home prices YoY: -1.1%
• Rents YoY: 5.5%
• Active inventory: 33
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,984 medium
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $324

Break-even live

Break-even rent $1,574

Max offer price $179,900

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
518 Wilson St Buffalo, NY	5.0	1.5	1848	$1,500	$0.81	23d	1	0.82mi

Listing history 14 events

1. 2026-06-07
   statusdays on market $179,900 Pending 11 DOM
2. 2026-06-03
   days on market $179,900 Active 8 DOM
3. 2026-06-02
   days on market $179,900 Active 7 DOM
4. 2026-06-01
   days on market $179,900 Active 6 DOM
5. 2026-05-31
   days on market $179,900 Active 5 DOM
6. 2026-04-17
   listed $199,900 Active 952-char remark
7. 2023-11-13
   soldstatus $50,000
8. 2022-11-09
   soldstatus $35,000 Closed Sale or Rented 903-char remark

   Show marketing remark (903 chars)

   Vacant, Listing Broker Only Showing Time/Appointment Service; Online Showing Service, PLEASE use Showing Time to schedule all appointments. 24 Hour notice prior to all showings. Property is being sold AS IS. Seller will do NO repairs as a result of a home inspection. Check out this property in the UPCOMING DOWNTOWN BUFFALO AREA!! This property is in a group with the following properties MLS#B1408381 and MLS#B1408566. OWNER WOULD PREFER TO SELL ALL PROPERTIES AS A PACKAGE BUT IS WILLING TO SELL THEM INDIVIDUALLY. PLEASE FOLLOW ALL CDC AND COVID-19 SHOWING GUIDELINES. All information is deemed reliable but not guaranteed. Showings begin immediately. Offers will be reviewed as they come in. All offers MUST have sufficient proof funds (dated within 30 days and enough funds to cover the purchase price) Compensation for MLS members only and is based on sale price minus any credits or concessions.

9. 2022-11-03
   soldstatus $35,000
10. 2022-09-16
    status Under Contract- Do Not Show 903-char remark

    Show marketing remark (903 chars)

    Vacant, Listing Broker Only Showing Time/Appointment Service; Online Showing Service, PLEASE use Showing Time to schedule all appointments. 24 Hour notice prior to all showings. Property is being sold AS IS. Seller will do NO repairs as a result of a home inspection. Check out this property in the UPCOMING DOWNTOWN BUFFALO AREA!! This property is in a group with the following properties MLS#B1408381 and MLS#B1408566. OWNER WOULD PREFER TO SELL ALL PROPERTIES AS A PACKAGE BUT IS WILLING TO SELL THEM INDIVIDUALLY. PLEASE FOLLOW ALL CDC AND COVID-19 SHOWING GUIDELINES. All information is deemed reliable but not guaranteed. Showings begin immediately. Offers will be reviewed as they come in. All offers MUST have sufficient proof funds (dated within 30 days and enough funds to cover the purchase price) Compensation for MLS members only and is based on sale price minus any credits or concessions.

11. 2022-08-29
    status Active 903-char remark

    Show marketing remark (903 chars)

    Vacant, Listing Broker Only Showing Time/Appointment Service; Online Showing Service, PLEASE use Showing Time to schedule all appointments. 24 Hour notice prior to all showings. Property is being sold AS IS. Seller will do NO repairs as a result of a home inspection. Check out this property in the UPCOMING DOWNTOWN BUFFALO AREA!! This property is in a group with the following properties MLS#B1408381 and MLS#B1408566. OWNER WOULD PREFER TO SELL ALL PROPERTIES AS A PACKAGE BUT IS WILLING TO SELL THEM INDIVIDUALLY. PLEASE FOLLOW ALL CDC AND COVID-19 SHOWING GUIDELINES. All information is deemed reliable but not guaranteed. Showings begin immediately. Offers will be reviewed as they come in. All offers MUST have sufficient proof funds (dated within 30 days and enough funds to cover the purchase price) Compensation for MLS members only and is based on sale price minus any credits or concessions.

12. 2022-08-24
    historical 903-char remark

    Show marketing remark (903 chars)

    Vacant, Listing Broker Only Showing Time/Appointment Service; Online Showing Service, PLEASE use Showing Time to schedule all appointments. 24 Hour notice prior to all showings. Property is being sold AS IS. Seller will do NO repairs as a result of a home inspection. Check out this property in the UPCOMING DOWNTOWN BUFFALO AREA!! This property is in a group with the following properties MLS#B1408381 and MLS#B1408566. OWNER WOULD PREFER TO SELL ALL PROPERTIES AS A PACKAGE BUT IS WILLING TO SELL THEM INDIVIDUALLY. PLEASE FOLLOW ALL CDC AND COVID-19 SHOWING GUIDELINES. All information is deemed reliable but not guaranteed. Showings begin immediately. Offers will be reviewed as they come in. All offers MUST have sufficient proof funds (dated within 30 days and enough funds to cover the purchase price) Compensation for MLS members only and is based on sale price minus any credits or concessions.

13. 2022-07-05
    price $89,900 903-char remark

    Show marketing remark (903 chars)

    Vacant, Listing Broker Only Showing Time/Appointment Service; Online Showing Service, PLEASE use Showing Time to schedule all appointments. 24 Hour notice prior to all showings. Property is being sold AS IS. Seller will do NO repairs as a result of a home inspection. Check out this property in the UPCOMING DOWNTOWN BUFFALO AREA!! This property is in a group with the following properties MLS#B1408381 and MLS#B1408566. OWNER WOULD PREFER TO SELL ALL PROPERTIES AS A PACKAGE BUT IS WILLING TO SELL THEM INDIVIDUALLY. PLEASE FOLLOW ALL CDC AND COVID-19 SHOWING GUIDELINES. All information is deemed reliable but not guaranteed. Showings begin immediately. Offers will be reviewed as they come in. All offers MUST have sufficient proof funds (dated within 30 days and enough funds to cover the purchase price) Compensation for MLS members only and is based on sale price minus any credits or concessions.

14. 2022-05-24
    listed $101,000 Active 903-char remark

    Show marketing remark (903 chars)

    Vacant, Listing Broker Only Showing Time/Appointment Service; Online Showing Service, PLEASE use Showing Time to schedule all appointments. 24 Hour notice prior to all showings. Property is being sold AS IS. Seller will do NO repairs as a result of a home inspection. Check out this property in the UPCOMING DOWNTOWN BUFFALO AREA!! This property is in a group with the following properties MLS#B1408381 and MLS#B1408566. OWNER WOULD PREFER TO SELL ALL PROPERTIES AS A PACKAGE BUT IS WILLING TO SELL THEM INDIVIDUALLY. PLEASE FOLLOW ALL CDC AND COVID-19 SHOWING GUIDELINES. All information is deemed reliable but not guaranteed. Showings begin immediately. Offers will be reviewed as they come in. All offers MUST have sufficient proof funds (dated within 30 days and enough funds to cover the purchase price) Compensation for MLS members only and is based on sale price minus any credits or concessions.

ⓘ 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: $23,814
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$1,905
• − Management: −$1,905
• − Depreciation: −$5,233
• Taxable income: $1,095
• Est. tax owed @ 24.0%: −$263
• After-tax cash flow: $3,631/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): 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

+78.1% since first listed

12 events — show timeline

• 2026-06-07 Pending — WNYREIS
• 2026-05-26 Listed $179,900 WNYREIS
• 2026-05-23 Listing Removed — WNYREIS
• 2026-04-17 Listed $199,900 WNYREIS
• 2023-11-13 Sold (Public Records) $50,000 Public Records
• 2022-11-09 Sold (MLS) $35,000 WNYREIS
• 2022-11-03 Sold (Public Records) $35,000 Public Records
• 2022-09-16 Pending — WNYREIS
• 2022-08-29 Relisted — WNYREIS
• 2022-08-24 Listing Removed — WNYREIS
• 2022-07-05 Price Changed $89,900 WNYREIS
• 2022-05-24 Listed $101,000 WNYREIS

Property tax history

+10.1%/yr

Latest (2025): $132 · +30.9% YoY. Source: county tax records.