199 Brunswick Blvd · Buffalo, NY 14208

$240,000

6 bd · 2.0 ba · 3,134 sqft · MultiFamily public records · 9 Days on market

Built 1910 3,960 sqft lot $77/sqft · 30% below area Est $342k · 30% 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
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Space, scale, and historic charm collide at 199 Brunswick Boulevard, a massive 3,134 sq. ft. 3/3 double located in the heart of Buffalo’s sought-after Hamlin Park Historic District recently appraised at $250,000. Arguably one of the largest homes on the block, this oversized multi-family property offers an incredible amount of living space and with a vacant upper unit and the lower moving out, there's endless potential for homeowners and investors alike. Each unit features 3 spacious bedrooms, generous living areas, and room to customize or maximize rental income. Whether you’re looking to owner-occupy, expand your portfolio, or preserve a piece of Buffalo history, this property

Key facts

• Historic charm
• 3,960 sq ft lot
• 2 parking spots

Tags

• HISTORIC CHARM
• HAMLIN PARK HISTORIC DISTRICT
• GENEROUS LIVING AREAS
• CULTURALLY RICH NEIGHBORHOODS

Property features AI

Finance

• Financial info: Operating expense details: see remarks; Tenant is responsible for all utilities

Exterior

• Parking: Concrete parking; Two or more parking spaces
• Utilities: Public water connected; Sewer connected
• Home design: Multi-family property with 2 total units; 2 stories; Resale condition
• Construction: Brick construction; PEX plumbing; Asphalt roof; Block foundation; Existing (previously built)
• Exterior features: Balcony; Historic district setting; Near public transit; Rectangular, residential lot; City street frontage

Interior

• Kitchen: Gas water heater (appliance listed)
• Bedrooms: 2-unit property (multi-family) — individual bedroom counts not provided
• Flooring: Carpet; Laminate; Varies
• Bathrooms: 2 full bathrooms total (property)
• Heating & cooling: Gas forced-air heating
• Interior features: Ceiling fan(s)
• Laundry & utility: Tenant pays all utilities

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $240k).
• Cap rate 15.6% 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: 54 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $4,162/mo this rent would consume 103% of the median local household income ($48k/yr) (locally 723% 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 + 3.0% rent growth), your $67k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 9 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 $240,000

Questions for the listing agent

1. Built in 1910 — 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: 1.73% ✓
• Cap rate: 15.56%
• Cash-on-cash: 33.10%
• DSCR: 2.47
• GRM: 4.8

CMA / ARV

• ARV (median comp): $342,095
• List price: $240,000
• Delta: -29.84%
• 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
21 Butler Ave	0.25mi	6/2.0	2,998 (-4%)	1mo	$215,000	$72	80
125 Butler Ave	0.08mi	6/2.0	2,762 (-12%)	4mo	$145,000	$52	73
509 E Utica St	0.41mi	6/2.0	2,976 (-5%)	3mo	$135,800	$46	70
236 Brunswick Blvd	0.07mi	5/2.0 (-1)	2,779 (-11%)	4mo	$287,500	$103	69
362 Northland Ave	0.18mi	6/2.0	2,723 (-13%)	8mo	$216,000	$79	63
118 Butler Ave	0.07mi	6/2.0	2,677 (-15%)	12mo	$189,000	$71	63
441 Humboldt Pkwy	0.42mi	5/2.0 (-1)	2,966 (-5%)	13mo	$120,000	$40	55
715 Woodlawn Ave	0.46mi	6/2.0	2,784 (-11%)	12mo	$270,000	$97	50
287 Riley St	0.70mi	6/2.0	3,424 (+9%)	4mo	$95,000	$28	49
148 Northland Ave	0.45mi	6/2.0	2,670 (-15%)	10mo	$220,000	$82	46
267 Humboldt Pkwy	0.66mi	6/2.0	2,833 (-10%)	10mo	$260,000	$92	45
1002 Humboldt Pkwy	0.63mi	6/2.0	2,684 (-14%)	8mo	$185,750	$69	40

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.3%
• Equity multiple: 2.18×
• Total profit: $79,099
• Equity at exit: $35,785

10-year hold

• IRR: 35.7%
• Equity multiple: 4.28×
• Total profit: $220,599
• Equity at exit: $20,751

Cash invested: $67,200 (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 14208

• Home prices YoY: -3.4%
• Active inventory: 54
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $4,162 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$76 /mo · $908/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$874
• Net cashflow: $1,854

Break-even live

Break-even rent $1,816

Max offer price $240,000

Occupancy floor 50%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$4,162
Total (2 units)			$4,162

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-15
   status Pending 1133-char remark
2. 2026-05-15
   historical Active Under Contract 1133-char remark
3. 2026-05-08
   status Pending 1133-char remark
4. 2026-04-29
   listed $240,000 Active 1133-char remark

ⓘ 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: $908 · $76/mo
• Projected year-2 tax: $2,482 · $207/mo
• Expected delta: +$1,574/yr (+$131/mo · 173.3%)

ⓘ 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 ≥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: $49,944
• − Mortgage interest: −$13,444
• − Property taxes: −$908
• − Insurance: −$1,200
• − Repairs & maintenance: −$3,996
• − Management: −$3,996
• − Depreciation: −$6,982
• Taxable income: $19,419
• Est. tax owed @ 24.0%: −$4,661
• After-tax cash flow: $17,584/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): 12,572
• Household income: $48,476
• Rent vs Own: 46.2% rent · 53.8% own
• Severe rent burden: 723.0

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 (72%)
• Race & ethnicity: Black 72% White 15% Asian 6% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 2% Italian 1% Hispanic 0%
• Foreign-born: 7% · Canada, South Korea, Philippines
• Languages at home: 89% English-only · Other Indo-European 3% Spanish 2% French/Haitian/Cajun 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: ▼ -16.37%
• Current HPI: 459.2084
• Rent YoY: —
• 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

4 events — show timeline

• 2026-05-15 Pending — WNYREIS
• 2026-05-15 Contingent — WNYREIS
• 2026-05-08 Pending — WNYREIS
• 2026-04-29 Listed $240,000 WNYREIS

Property tax history

+12.6%/yr

Latest (2025): $908 · +184.3% YoY. Source: county tax records.