143 Okell St · Buffalo, NY 14220

$219,000

5 bd · 3.0 ba · 2,510 sqft · MultiFamily public records · 49 Days on market

Built 1900 7,137 sqft lot $87/sqft · 45% below area Est $398k · 45% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.4/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Here is your opportunity to own a large recently remodeled 3 unit home with full large basement in South Buffalo. The home is across the street from a beautiful park on a neighborhood street and is close to public transportation! One of the apartments is ready for you to live in as a home with a large eat in kitchen, separate dining room and ling room- it has 4 bedrooms and is on the 1st floor. Or you can rent that space at a high prime rate- 4 bedrooms are highly desirable and sought after by tenants. Large lot with detached 2 car garage and private fully fenced yard. This could also easily be converted to a 4 unit by remodeling the unfinished large attic space. Per Seller's request no offers will be entertained or reviewed until 10/30

Key facts

• 3 unit property
• Full basement
• 7,137 sq ft lot

Tags

• 3 UNIT PROPERTY
• FULL BASEMENT
• DECENT SIZED BACKYARD
• FLEXIBLE RENTAL OPTIONS
• INCOME PRODUCING OPPORTUNITY

Property features AI

Finance

• Other: Property contains 3 total units; All units in community: 3; Single gas meter for property; Single electric meter for property
• Financial info: Owner pays all utilities (for rental units); Rent includes all utilities; Operating expense details: see remarks

Exterior

• Parking: Two-car garage; Additional parking spaces (two or more)
• Utilities: Sewer connected
• Home design: Two-story building; Resale property
• Construction: Attic/crawl hatchway(s) insulated; Existing construction
• Exterior features: Rectangular lot (approx. 61 x 117)

Interior

• Flooring: Vinyl flooring; Varies by area
• Bathrooms: Three full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Basement has full foundation; Varied and vinyl flooring
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $219k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $464/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $219k).
• Recommended offer: $212k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.9% 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 rising fast (+7.6%/yr); 138 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,417/mo this rent would consume 58% of the median local household income ($71k/yr) (locally 602% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.6% rent growth), your $61k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y ago; this cycle's ask has dropped $16k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; list at $219k implies a 119% 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 $212,430 (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. 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: 1.56% ✓
• Cap rate: 13.92%
• Cash-on-cash: 27.24%
• DSCR: 2.21
• GRM: 5.3

CMA / ARV

• ARV (median comp): $397,673
• List price: $219,000
• Delta: -44.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2267 S Park Ave #2	0.09mi	6/2.0 (+1)	2,496 (-1%)	3mo	$140,000	$56	84
33 Harding Rd	0.22mi	6/2.0 (+1)	2,670 (+6%)	5mo	$329,000	$123	66
75 Harding Rd	0.27mi	6/2.0 (+1)	2,703 (+8%)	0mo	$305,000	$113	65
111 Harding Rd	0.33mi	4/2.0 (-1)	2,330 (-7%)	3mo	$225,000	$97	61
48 Harding Rd	0.26mi	6/2.0 (+1)	2,691 (+7%)	10mo	$257,000	$96	58
155 Altruria St	0.37mi	6/2.0 (+1)	2,720 (+8%)	2mo	$169,900	$62	58
140 Aldrich Pl	0.47mi	5/2.0	2,300 (-8%)	8mo	$260,000	$113	54
281 Woodside Ave	0.66mi	6/2.0 (+1)	2,558 (+2%)	11mo	$265,000	$104	48
113 Woodside Ave	0.40mi	6/2.0 (+1)	2,788 (+11%)	8mo	$275,000	$99	48
204 Woodside Ave	0.56mi	6/2.0 (+1)	2,332 (-7%)	10mo	$280,000	$120	45
16 Lorraine Ave	0.73mi	6/2.0 (+1)	2,688 (+7%)	6mo	$240,000	$89	40
1313 Mckinley Pkwy	0.67mi	6/2.0 (+1)	2,304 (-8%)	9mo	$260,000	$113	38

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 · 7.62% rent growth · sell at horizon

5-year hold

• IRR: 26.0%
• Equity multiple: 2.14×
• Total profit: $69,720
• Equity at exit: $32,654

10-year hold

• IRR: 36.2%
• Equity multiple: 5.07×
• Total profit: $249,623
• Equity at exit: $18,935

Cash invested: $61,320 (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 14220

• Home prices YoY: -26.7%
• Rents YoY: 7.6%
• Active inventory: 138
• Price-to-rent: 16.0×

Monthly cashflow live

• Estimated rent: $3,417 high
• Mortgage (P&I): −$1,148
• Tax from tax record: −$68 /mo · $812/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$718
• Net cashflow: $1,392

Break-even live

Break-even rent $1,655

Max offer price $219,000

Occupancy floor 54%

Sensitivity live

Price	-10% $1,516	-5% $1,454	+0% $1,392	+5% $1,330	+10% $1,268
Rent	-10% $1,122	-5% $1,257	+0% $1,392	+5% $1,527	+10% $1,662
Rate	-1.0pp $1,502	-0.5pp $1,448	base $1,392	+0.5pp $1,335	+1.0pp $1,278

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,417
Total (3 units)			$3,417

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-21
   days on market $219,000 Active 49 DOM
2. 2026-06-18
   days on market $219,000 Active 46 DOM
3. 2026-06-17
   days on market $219,000 Active 45 DOM
4. 2026-06-16
   days on market $219,000 Active 44 DOM
5. 2026-06-15
   days on market $219,000 Active 43 DOM
6. 2026-06-13
   days on market $219,000 Active 41 DOM
7. 2026-06-13
   days on market $219,000 Active 40 DOM
8. 2026-06-10
   days on market $219,000 Active 38 DOM
9. 2026-06-09
   days on market $219,000 Active 37 DOM
10. 2026-06-08
    days on market $219,000 Active 36 DOM
11. 2026-06-08
    price $219,000 Active 35 DOM
12. 2026-06-07
    days on market $235,000 Active 35 DOM
13. 2026-06-03
    days on market $235,000 Active 31 DOM
14. 2026-06-02
    days on market $235,000 Active 30 DOM
15. 2026-06-01
    days on market $235,000 Active 29 DOM
16. 2026-05-31
    days on market $235,000 Active 28 DOM
17. 2026-05-04
    listed $235,000 Active 1078-char remark
18. 2019-02-01
    soldstatus $100,000 Closed Sale or Rented 747-char remark

    Show marketing remark (747 chars)

    Here is your opportunity to own a large recently remodeled 3 unit home with full large basement in South Buffalo. The home is across the street from a beautiful park on a neighborhood street and is close to public transportation! One of the apartments is ready for you to live in as a home with a large eat in kitchen, separate dining room and ling room- it has 4 bedrooms and is on the 1st floor. Or you can rent that space at a high prime rate- 4 bedrooms are highly desirable and sought after by tenants. Large lot with detached 2 car garage and private fully fenced yard. This could also easily be converted to a 4 unit by remodeling the unfinished large attic space. Per Seller's request no offers will be entertained or reviewed until 10/30

19. 2019-02-01
    soldstatus $100,000

    Show marketing remark (747 chars)

    Here is your opportunity to own a large recently remodeled 3 unit home with full large basement in South Buffalo. The home is across the street from a beautiful park on a neighborhood street and is close to public transportation! One of the apartments is ready for you to live in as a home with a large eat in kitchen, separate dining room and ling room- it has 4 bedrooms and is on the 1st floor. Or you can rent that space at a high prime rate- 4 bedrooms are highly desirable and sought after by tenants. Large lot with detached 2 car garage and private fully fenced yard. This could also easily be converted to a 4 unit by remodeling the unfinished large attic space. Per Seller's request no offers will be entertained or reviewed until 10/30

20. 2018-11-07
    status Under Contract- Do Not Show 747-char remark

    Show marketing remark (747 chars)

    Here is your opportunity to own a large recently remodeled 3 unit home with full large basement in South Buffalo. The home is across the street from a beautiful park on a neighborhood street and is close to public transportation! One of the apartments is ready for you to live in as a home with a large eat in kitchen, separate dining room and ling room- it has 4 bedrooms and is on the 1st floor. Or you can rent that space at a high prime rate- 4 bedrooms are highly desirable and sought after by tenants. Large lot with detached 2 car garage and private fully fenced yard. This could also easily be converted to a 4 unit by remodeling the unfinished large attic space. Per Seller's request no offers will be entertained or reviewed until 10/30

21. 2018-11-05
    historical Continue to Show- Under Contract 747-char remark

    Show marketing remark (747 chars)

    Here is your opportunity to own a large recently remodeled 3 unit home with full large basement in South Buffalo. The home is across the street from a beautiful park on a neighborhood street and is close to public transportation! One of the apartments is ready for you to live in as a home with a large eat in kitchen, separate dining room and ling room- it has 4 bedrooms and is on the 1st floor. Or you can rent that space at a high prime rate- 4 bedrooms are highly desirable and sought after by tenants. Large lot with detached 2 car garage and private fully fenced yard. This could also easily be converted to a 4 unit by remodeling the unfinished large attic space. Per Seller's request no offers will be entertained or reviewed until 10/30

22. 2018-11-05
    status Under Contract- Do Not Show 747-char remark

    Show marketing remark (747 chars)

    Here is your opportunity to own a large recently remodeled 3 unit home with full large basement in South Buffalo. The home is across the street from a beautiful park on a neighborhood street and is close to public transportation! One of the apartments is ready for you to live in as a home with a large eat in kitchen, separate dining room and ling room- it has 4 bedrooms and is on the 1st floor. Or you can rent that space at a high prime rate- 4 bedrooms are highly desirable and sought after by tenants. Large lot with detached 2 car garage and private fully fenced yard. This could also easily be converted to a 4 unit by remodeling the unfinished large attic space. Per Seller's request no offers will be entertained or reviewed until 10/30

23. 2018-10-18
    listed $99,900 Active 747-char remark

    Show marketing remark (747 chars)

    Here is your opportunity to own a large recently remodeled 3 unit home with full large basement in South Buffalo. The home is across the street from a beautiful park on a neighborhood street and is close to public transportation! One of the apartments is ready for you to live in as a home with a large eat in kitchen, separate dining room and ling room- it has 4 bedrooms and is on the 1st floor. Or you can rent that space at a high prime rate- 4 bedrooms are highly desirable and sought after by tenants. Large lot with detached 2 car garage and private fully fenced yard. This could also easily be converted to a 4 unit by remodeling the unfinished large attic space. Per Seller's request no offers will be entertained or reviewed until 10/30

24. 2018-08-27
    historical
25. 2018-08-02
    listed $110,000 Active
26. 2016-05-24
    soldstatus $60,000 Closed Sale or Rented
27. 2016-05-18
    soldstatus $64,900
28. 2016-04-11
    status Pending Sale
29. 2016-03-08
    historical Under Contract- Do Not Show
30. 2016-03-08
    status Active
31. 2016-03-03
    historical Under Contract- Do Not Show
32. 2016-02-12
    price $59,900
33. 2016-02-05
    status Active
34. 2016-01-18
    historical Under Contract- Do Not Show
35. 2015-11-25
    listed $64,900 Active
36. 1995-09-21
    soldstatus $59,900

ⓘ 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: $812 · $68/mo
• Projected year-2 tax: $2,257 · $188/mo
• Expected delta: +$1,444/yr (+$120/mo · 177.8%)

ⓘ 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 ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,004
• − Mortgage interest: −$12,267
• − Property taxes: −$812
• − Insurance: −$1,095
• − Repairs & maintenance: −$3,280
• − Management: −$3,280
• − Depreciation: −$6,371
• Taxable income: $13,898
• Est. tax owed @ 24.0%: −$3,335
• After-tax cash flow: $13,369/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): 24,428
• Household income: $70,963
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 602.0

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: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 6% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 10% Cuban 1%
• Common ancestry: Romanian 16% Lithuanian 1% Subsaharan African 1%
• Foreign-born: 4% · Canada, Jamaica, China
• Languages at home: 90% English-only · Spanish 4% Chinese 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: ▼ -146.29%
• Current HPI: 402.5053
• Rent YoY: ▲ 7.62%
• 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

+265.6% since first listed

21 events — show timeline

• 2026-06-07 Price Changed $219,000 WNYREIS
• 2026-05-04 Listed $235,000 WNYREIS
• 2019-02-01 Sold (Public Records) $100,000 Public Records
• 2019-02-01 Sold (MLS) $100,000 WNYREIS
• 2018-11-07 Pending — WNYREIS
• 2018-11-05 Contingent — WNYREIS
• 2018-11-05 Pending — WNYREIS
• 2018-10-18 Listed $99,900 WNYREIS
• 2018-08-27 Listing Removed — WNYREIS
• 2018-08-02 Listed $110,000 WNYREIS
• 2016-05-24 Sold (MLS) $60,000 WNYREIS
• 2016-05-18 Sold (Public Records) $64,900 Public Records
• 2016-04-11 Pending — WNYREIS
• 2016-03-08 Contingent — WNYREIS
• 2016-03-08 Relisted — WNYREIS
• 2016-03-03 Contingent — WNYREIS
• 2016-02-12 Price Changed $59,900 WNYREIS
• 2016-02-05 Relisted — WNYREIS
• 2016-01-18 Contingent — WNYREIS
• 2015-11-25 Listed $64,900 WNYREIS
• 1995-09-21 Sold (Public Records) $59,900 Public Records

Property tax history

+9.1%/yr

Latest (2025): $812 · +70.5% YoY. Source: county tax records.