22 Schreck Ave · Buffalo, NY 14215

$119,900

4 bd · 1.0 ba · 1,543 sqft · SingleFamily public records · 21 Days on market

Built 1930 3,484 sqft lot $78/sqft · 22% below area Est $175k · 32% 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
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 22 Schreck Avenue, a beautifully updated, single-family home situated in a highly desirable neighborhood. This move-in-ready property offers abundant living space, including a spacious living room, a separate dining area, and a large kitchen. This charming house features four bedrooms, one full bathroom, and an additional room perfect for a children's play area or office. Recent renovations include fresh paint throughout, an updated bathroom, kitchen, new roof less than 1 year old and new lighting fixtures. The home also benefits from ample natural light. Additional features include a one-car garage and a huge backyard, ideal for relaxation and outdoor activities. The property is

Key facts

• 3,484 sq ft lot
• Garage
• Built 1930

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: 2-story property; Existing construction
• Construction: Vinyl siding; Asphalt roof; Stone foundation; Resale condition
• Exterior features: Blacktop driveway; Balcony; Open porch

Interior

• Bedrooms: 1 main-level bedroom
• Flooring: Linoleum; Vinyl
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas forced-air heating
• Interior features: Accessible doors; Ceiling fan(s); Living/dining room; Main level primary
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $507 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.4% 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 flat; 237 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 41% of the median local income ($45k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $34k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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 $73k; list at $120k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,101 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — 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 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: 1.27% ✓
• Cap rate: 11.36%
• Cash-on-cash: 18.11%
• DSCR: 1.81
• GRM: 6.5

CMA / ARV

• ARV (median comp): $175,487
• List price: $119,900
• Delta: -31.68%
• 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
353 Warwick Ave	0.33mi	3/1.0 (-1)	1,611 (+4%)	1mo	$161,800	$100	71
127 Durham Ave	0.54mi	3/1.0 (-1)	1,550 (+0%)	1mo	$216,000	$139	68
597 Norfolk Ave	0.41mi	3/1.0 (-1)	1,490 (-3%)	4mo	$160,000	$107	67
65 Deerfield Ave	0.49mi	5/1.5 (+1)	1,621 (+5%)	6mo	$170,000	$105	57
51 Sussex St	0.53mi	4/2.0	1,465 (-5%)	7mo	$251,000	$171	57
323 Grider St	0.62mi	4/2.0	1,418 (-8%)	1mo	$128,000	$90	53
34 Copsewood Ave	0.70mi	4/2.0	1,602 (+4%)	6mo	$170,000	$106	52
14 Roosevelt Ave	0.61mi	5/2.0 (+1)	1,638 (+6%)	3mo	$185,000	$113	50
303 Weston Ave	0.74mi	4/2.0	1,638 (+6%)	3mo	$205,000	$125	49
158 Wende St	0.62mi	4/1.0	1,340 (-13%)	0mo	$70,000	$52	48
635 Norfolk Ave	0.48mi	3/1.0 (-1)	1,340 (-13%)	5mo	$172,500	$129	46
157 Roosevelt Ave	0.73mi	4/2.0	1,394 (-10%)	4mo	$200,000	$143	43

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 · 0.67% rent growth · sell at horizon

5-year hold

• IRR: 7.3%
• Equity multiple: 1.28×
• Total profit: $9,292
• Equity at exit: $17,877

10-year hold

• IRR: 14.6%
• Equity multiple: 2.06×
• Total profit: $35,724
• Equity at exit: $10,367

Cash invested: $33,572 (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 14215

• Home prices YoY: -30.0%
• Rents YoY: 0.7%
• Active inventory: 237
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,527 high
• Mortgage (P&I): −$629
• Tax from tax record: −$21 /mo · $248/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $507

Break-even live

Break-even rent $885

Max offer price $119,900

Occupancy floor 62%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
74 Dorris Ave Buffalo, NY	3.0	1.0	1200	$1,450	$1.21	43d	1	0.08mi
25 Parkridge Ave Buffalo, NY	3.0	1.0	1914	$1,350	$0.71	14d	1	0.69mi
65 Domedion Ave Buffalo, NY	3.0	1.0	1632	$1,500	$0.92	1d	1	1.08mi
517 Goodyear Ave Buffalo, NY	3.0	1.0	1559	$1,800	$1.15	19d	1	1.11mi
189 Westminster Ave Buffalo, NY	4.0	1.5	1065	$1,595	$1.50	10d	1	1.17mi
96 Academy Rd Buffalo, NY	3.0	1.0	2247	$1,400	$0.62	23d	1	1.32mi
73 Inter Park Ave Buffalo, NY	3.0	1.0	2080	$1,300	$0.62	14d	1	1.40mi
263 Minnesota Ave Unit Upper Buffalo, NY	3.0	1.0	1242	$1,500	$1.21	14d	1	1.40mi
563 Humboldt Pkwy Buffalo, NY	3.0	1.0	2004	$1,200	$0.60	23d	1	1.44mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,997	$2.93	1d	10	1.45mi
265 Lisbon Ave Unit 2 Buffalo, NY	3.0	1.0	1200	$1,400	$1.17	43d	1	1.46mi

Listing history 10 events

1. 2026-04-29
   listed $119,900 Active 910-char remark
2. 2026-04-17
   historical
3. 2025-10-16
   listed $129,900 Active
4. 2023-06-02
   soldstatus $73,000
5. 2022-08-25
   historical
6. 2022-05-25
   listed $115,000 Active
7. 2021-06-10
   soldstatus $75,000 Closed Sale or Rented
8. 2021-06-10
   soldstatus $75,000
9. 2021-04-26
   status Under Contract- Do Not Show
10. 2021-02-28
    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.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $248 · $21/mo
• Projected year-2 tax: $1,137 · $95/mo
• Expected delta: +$889/yr (+$74/mo · 359.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,321
• − Mortgage interest: −$6,716
• − Property taxes: −$248
• − Insurance: −$600
• − Repairs & maintenance: −$1,466
• − Management: −$1,466
• − Depreciation: −$3,488
• Taxable income: $4,338
• Est. tax owed @ 24.0%: −$1,041
• After-tax cash flow: $5,040/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): 42,524
• Household income: $44,955
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 2873.0

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 Black (67%)
• Race & ethnicity: Black 67% White 15% Asian 7% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada, China
• Languages at home: 88% English-only · Other Indo-European 4% 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: ▼ -126.29%
• Current HPI: 295.2966
• Rent YoY: ▲ 0.67%
• 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

+49.9% since first listed

11 events — show timeline

• 2026-05-20 Pending — WNYREIS
• 2026-04-29 Listed $119,900 WNYREIS
• 2026-04-17 Listing Removed — WNYREIS
• 2025-10-16 Listed $129,900 WNYREIS
• 2023-06-02 Sold (Public Records) $73,000 Public Records
• 2022-08-25 Listing Removed — WNYREIS
• 2022-05-25 Listed $115,000 WNYREIS
• 2021-06-10 Sold (Public Records) $75,000 Public Records
• 2021-06-10 Sold (MLS) $75,000 WNYREIS
• 2021-04-26 Pending — WNYREIS
• 2021-02-28 Listed $79,999 WNYREIS

Property tax history

+2.6%/yr

Latest (2025): $248 · +13.3% YoY. Source: county tax records.