72 Sunset St · Buffalo, NY 14207

$430,000

9 bd · 3.9 ba · 4,898 sqft · MultiFamily public records · 120 Days on market

Built 1920 3,658 sqft lot $88/sqft · at area comps Est $445k · at est.

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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 +24.1/30.0
• ARV discount +9.1/15.0
• DSCR +7.8/10.0
• 1% rule +6.2/10.0
• Rent growth +4.5/5.0
• 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 (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

The owners have Continuously updated this four-unit with a car two two-car garage! Unit one features 12- foot The owners have Continuously updated this four-unit with a car two two-car garage! Unit one features 12-foot ceilings. , a kitchen with granite countertops, and an open floor plan, unit two has an updated kitchen including cabinets and flooring, and a spacious living room with three bedrooms! Unit three is an old owner's unit with hardwood floors and a full living room and dining room with two bedrooms. Unit 4 is a one-bedroom utility! Updates include a new ramp, 90% replacement windows, and Roof Approx. 12 years old with seamless gutters, new flat roof 2024, updated electrical, large basement Egress, and recently painted stairwell 2024! Add this one to your portfolio or live one unit and collect the rents!. , a kitchen with granite countertops, and an open floor plan, unit two has an updated kitchen including cabinets and flooring, and a spacious living room with three bedrooms! Unit three is an old owner's unit with hardwood floors and a full living room and dining room with two bedrooms. Unit 4 is a one-bedroom utility! Updates include a new ramp, 90% replacement windows.

Key facts

• Open floor plan
• Seamless gutters
• Updated kitchen

Tags

• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• OPEN FLOOR PLAN
• HARDWOOD FLOORS
• REPLACEMENT WINDOWS
• SEAMLESS GUTTERS

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $430k.

Deal economics

• At list price, monthly cash flow is $850 ($10k/yr) — positive. Per door: $283/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $430k).
• Recommended offer: $391k (9.0% 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 (+8.2%/yr); 197 active listings in the ZIP; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $4,837/mo this rent would consume 146% of the median local household income ($40k/yr) (locally 2177% 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 $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $120k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($391k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $61k; list at $430k implies a 604% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $391,300 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.12% ✓
• Cap rate: 8.66%
• Cash-on-cash: 8.47%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

• ARV (median comp): $445,476
• List price: $430,000
• Delta: -3.47%
• Verdict: FAIR
• Comps: 18 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31 Grote St	0.60mi	8/4.0 (-1)	4,902 (+0%)	2mo	$385,000	$79	65
135 Peter St	0.62mi	8/4.0 (-1)	4,924 (+0%)	14mo	$320,000	$65	53
98 Rano St	0.75mi	9/4.0	5,325 (+9%)	10mo	$280,000	$53	42
19 Grote St	0.61mi	9/4.0	5,302 (+8%)	19mo	$210,000	$40	42
115 Grote St	0.54mi	8/4.0 (-1)	4,244 (-13%)	8mo	$230,000	$54	41
44 Reservation St	0.60mi	9/4.0	5,364 (+10%)	22mo	$75,000	$14	38
52 Wilbury Pl	0.69mi	8/— (-1)	5,168 (+6%)	21mo	$1,213,000	$235	36

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 2.1%
• Equity multiple: 1.08×
• Total profit: $10,068
• Equity at exit: $64,114

10-year hold

• IRR: 16.1%
• Equity multiple: 2.62×
• Total profit: $195,086
• Equity at exit: $37,179

Cash invested: $120,400 (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 14207

• Home prices YoY: -18.9%
• Rents YoY: 8.2%
• Active inventory: 197
• Price-to-rent: 22.2×

Monthly cashflow live

• Estimated rent: $4,837 high
• Mortgage (P&I): −$2,255
• Tax est. 1.5%: −$538 /mo · $6,450/yr
• Insurance: −$179
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,016
• Net cashflow: $850

Break-even live

Break-even rent $3,762

Max offer price $430,000

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$4,836
Total (3 units)			$4,837

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: $107,500
• Closing costs: $12,900
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $430,000 Active 120 DOM
2. 2026-06-17
   days on market $430,000 Active 119 DOM
3. 2026-06-16
   days on market $430,000 Active 118 DOM
4. 2026-06-15
   days on market $430,000 Active 117 DOM
5. 2026-06-13
   days on market $430,000 Active 115 DOM
6. 2026-06-13
   days on market $430,000 Active 114 DOM
7. 2026-06-10
   days on market $430,000 Active 112 DOM
8. 2026-06-09
   days on market $430,000 Active 111 DOM
9. 2026-06-08
   days on market $430,000 Active 110 DOM
10. 2026-06-07
    days on market $430,000 Active 109 DOM
11. 2026-06-03
    days on market $430,000 Active 105 DOM
12. 2026-06-02
    days on market $430,000 Active 104 DOM
13. 2026-06-01
    days on market $430,000 Active 103 DOM
14. 2026-05-31
    days on market $430,000 Active 102 DOM
15. 2026-02-18
    listed $430,000 Active 1205-char remark

    Show marketing remark (1205 chars)

    The owners have Continuously updated this four-unit with a car two two-car garage! Unit one features 12- foot The owners have Continuously updated this four-unit with a car two two-car garage! Unit one features 12-foot ceilings. , a kitchen with granite countertops, and an open floor plan, unit two has an updated kitchen including cabinets and flooring, and a spacious living room with three bedrooms! Unit three is an old owner's unit with hardwood floors and a full living room and dining room with two bedrooms. Unit 4 is a one-bedroom utility! Updates include a new ramp, 90% replacement windows, and Roof Approx. 12 years old with seamless gutters, new flat roof 2024, updated electrical, large basement Egress, and recently painted stairwell 2024! Add this one to your portfolio or live one unit and collect the rents!. , a kitchen with granite countertops, and an open floor plan, unit two has an updated kitchen including cabinets and flooring, and a spacious living room with three bedrooms! Unit three is an old owner's unit with hardwood floors and a full living room and dining room with two bedrooms. Unit 4 is a one-bedroom utility! Updates include a new ramp, 90% replacement windows.

16. 2024-12-12
    historical
17. 2024-06-12
    listed $500,000 Active
18. 2019-03-19
    historical
19. 2019-03-13
    historical Continue to Show- Under Contract
20. 2019-03-12
    status Under Contract- Do Not Show
21. 2019-03-11
    listed $230,000 Active
22. 2017-10-17
    soldstatus $61,093

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% 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 4 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $58,044
• − Mortgage interest: −$24,087
• − Property taxes: −$6,450
• − Insurance: −$2,150
• − Repairs & maintenance: −$4,644
• − Management: −$4,644
• − Depreciation: −$12,509
• Taxable income: $3,561
• Est. tax owed @ 24.0%: −$855
• After-tax cash flow: $9,340/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): 26,327
• Household income: $39,753
• Rent vs Own: 65.0% rent · 35.0% own
• Severe rent burden: 2177.0

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 0.74)
• Race & ethnicity: White 40% Hispanic / Latino 23% Black 16% Asian 15% Two or more races 14%
• Hispanic origin (detail): Puerto Rican 18% Dominican 2%
• Common ancestry: Romanian 8% Portuguese 1% Arab 1%
• Foreign-born: 19% · Philippines, Canada, India
• Languages at home: 65% English-only · Spanish 14% Other Asian/Pacific 10% Other Indo-European 5%

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: ▼ -54.42%
• Current HPI: 233.0902
• Rent YoY: ▲ 8.19%
• 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

+603.8% since first listed

8 events — show timeline

• 2026-02-18 Listed $430,000 WNYREIS
• 2024-12-12 Listing Removed — WNYREIS
• 2024-06-12 Listed $500,000 WNYREIS
• 2019-03-19 Listing Removed — WNYREIS
• 2019-03-13 Contingent — WNYREIS
• 2019-03-12 Pending — WNYREIS
• 2019-03-11 Listed $230,000 WNYREIS
• 2017-10-17 Sold (Public Records) $61,093 Public Records

Property tax history

-7.6%/yr

Latest (2025): $824 · +0.0% YoY. Source: county tax records.