31 Ross Ave · Buffalo, NY 14207

$134,900

4 bd · 2.0 ba · 1,680 sqft · MultiFamily public records · 9 Days on market

Built 1914 3,000 sqft lot $80/sqft · 57% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Awesome 2 family home. Perfect for an investor or owner occupant looking for passive income to add to an investment portfolio. Full basement. Off street parking with 2 car garage.

Key facts

• 3,000 sq ft lot
• 2 garage spots
• Built 1914

Property features AI

Finance

• Financial info: Two separate gas meters; Two separate electric meters; Owner pays water and trash collection; Rent includes water and trash collection; Operating expense details: see remarks; Unit 1 actual rent $950 (leased through Nov 1, 2026); Unit 2 actual rent $1,200 (month-to-month)

Exterior

• Parking: Attached garage with 2 spaces; Paved parking
• Utilities: Electricity connected with circuit breakers; Sewer connected; Public water connected
• Home design: Two-story building; Residential 2-unit property; Resale condition; Wood siding construction; Rectangular lot near public transit on a city street (30 x 100)
• Construction: Wood siding; Existing (previously built)
• Exterior features: Covered porch

Interior

• Kitchen: Oven/range; Refrigerator; Eat-in kitchen (unit 1); Dining area with kitchen or living room
• Bedrooms: One unit with 2 bedrooms; One unit with 3 bedrooms
• Flooring: Hardwood; Luxury vinyl; Varies
• Bathrooms: Two full bathrooms total (each unit has 1 full bathroom)
• Heating & cooling: Gas forced-air heating
• Interior features: Natural woodwork
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $135k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $533/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Cap rate 15.8% 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 (+8.2%/yr); 197 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• At $2,344/mo this rent would consume 71% 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 $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $38k 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.
• 2 sale attempts since 6y 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 $63k; list at $135k implies a 114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $134,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.74% ✓
• Cap rate: 15.77%
• Cash-on-cash: 33.85%
• DSCR: 2.51
• GRM: 4.8

CMA / ARV

• ARV (median comp): $311,728
• List price: $134,900
• Delta: -56.73%
• 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
151 Crowley Ave	0.23mi	4/2.0	1,565 (-7%)	10mo	$89,000	$57	70
29 Philadelphia St	0.34mi	4/2.0	1,584 (-6%)	11mo	$209,000	$132	65
15 Blum Ave	0.58mi	4/2.0	1,600 (-5%)	1mo	$212,000	$133	64
14 Collaton St	0.56mi	4/2.0	1,708 (+2%)	9mo	$105,000	$61	64
395 Ontario St	0.06mi	5/2.0 (+1)	1,908 (+14%)	8mo	$270,000	$142	63
138 Ross Ave	0.20mi	4/2.0	1,896 (+13%)	8mo	$170,000	$90	63
77 Eckhert St	0.50mi	4/2.0	1,584 (-6%)	6mo	$211,000	$133	62
227 Crowley Ave	0.12mi	3/2.0 (-1)	1,909 (+14%)	6mo	$155,000	$81	62
108 Eckhert St	0.55mi	5/2.0 (+1)	1,629 (-3%)	6mo	$230,000	$141	59
23 Wyandotte Ave	0.41mi	4/2.0	1,496 (-11%)	6mo	$150,000	$100	58
1176 Tonawanda St	0.68mi	4/2.0	1,792 (+7%)	2mo	$205,000	$114	56
315 Roesch Ave	0.61mi	3/2.0 (-1)	1,498 (-11%)	6mo	$167,000	$111	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 34.3%
• Equity multiple: 2.54×
• Total profit: $58,339
• Equity at exit: $20,114

10-year hold

• IRR: 43.6%
• Equity multiple: 6.15×
• Total profit: $194,349
• Equity at exit: $11,664

Cash invested: $37,772 (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: 9.6×

Monthly cashflow live

• Estimated rent: $2,344 high
• Mortgage (P&I): −$707
• Tax from tax record: −$23 /mo · $271/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $1,066

Break-even live

Break-even rent $995

Max offer price $134,900

Occupancy floor 50%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,344
Total (2 units)			$2,344

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
158 Chadduck Ave Buffalo, NY	4.0	1.0	1200	$1,250	$1.04	24d	1	0.30mi
118 Rano St Buffalo, NY	3.0	1.0	1050	$1,200	$1.14	21d	1	0.38mi
61 Baxter St Buffalo, NY	3.0	1.0	2014	$1,400	$0.70	2d	1	0.50mi
62 Seabrook St Buffalo, NY	4.0	1.0	1300	$2,000	$1.54	2d	1	0.68mi
78 Germain St Buffalo, NY	3.0	1.0	2030	$1,300	$0.64	14d	1	1.12mi
62 Germain St Buffalo, NY	3.0	1.0	1320	$1,250	$0.95	24d	1	1.15mi
172 Tremont Ave Kenmore, NY	3.0	1.5	1569	$2,500	$1.59	10d	1	1.38mi
139 Fordham Dr Buffalo, NY	3.0	1.0	1453	$1,700	$1.17	24d	1	1.50mi

Listing history 11 events

1. 2026-05-14
   status Pending 292-char remark
2. 2026-05-05
   listed $134,900 Active 292-char remark
3. 2020-11-02
   soldstatus $63,000
4. 2020-10-23
   soldstatus $63,000 Closed Sale or Rented 179-char remark

   Show marketing remark (179 chars)

   Awesome 2 family home. Perfect for an investor or owner occupant looking for passive income to add to an investment portfolio. Full basement. Off street parking with 2 car garage.

5. 2020-07-27
   status Pending Sale 179-char remark

   Show marketing remark (179 chars)

   Awesome 2 family home. Perfect for an investor or owner occupant looking for passive income to add to an investment portfolio. Full basement. Off street parking with 2 car garage.

6. 2020-07-18
   status Under Contract- Do Not Show 179-char remark

   Show marketing remark (179 chars)

   Awesome 2 family home. Perfect for an investor or owner occupant looking for passive income to add to an investment portfolio. Full basement. Off street parking with 2 car garage.

7. 2020-07-16
   price $65,900 179-char remark

   Show marketing remark (179 chars)

   Awesome 2 family home. Perfect for an investor or owner occupant looking for passive income to add to an investment portfolio. Full basement. Off street parking with 2 car garage.

8. 2020-05-22
   price $80,000 179-char remark

   Show marketing remark (179 chars)

   Awesome 2 family home. Perfect for an investor or owner occupant looking for passive income to add to an investment portfolio. Full basement. Off street parking with 2 car garage.

9. 2020-03-06
   price $89,900 179-char remark

   Show marketing remark (179 chars)

   Awesome 2 family home. Perfect for an investor or owner occupant looking for passive income to add to an investment portfolio. Full basement. Off street parking with 2 car garage.

10. 2020-02-18
    listed $99,900 Active 179-char remark

    Show marketing remark (179 chars)

    Awesome 2 family home. Perfect for an investor or owner occupant looking for passive income to add to an investment portfolio. Full basement. Off street parking with 2 car garage.

11. 2005-11-02
    soldstatus $40,900

ⓘ 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: $271 · $23/mo
• Projected year-2 tax: $1,275 · $106/mo
• Expected delta: +$1,005/yr (+$84/mo · 371.0%)

ⓘ 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,128
• − Mortgage interest: −$7,556
• − Property taxes: −$271
• − Insurance: −$674
• − Repairs & maintenance: −$2,250
• − Management: −$2,250
• − Depreciation: −$3,924
• Taxable income: $11,201
• Est. tax owed @ 24.0%: −$2,688
• After-tax cash flow: $10,098/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

+229.8% since first listed

11 events — show timeline

• 2026-05-14 Pending — WNYREIS
• 2026-05-05 Listed $134,900 WNYREIS
• 2020-11-02 Sold (Public Records) $63,000 Public Records
• 2020-10-23 Sold (MLS) $63,000 WNYREIS
• 2020-07-27 Pending — WNYREIS
• 2020-07-18 Pending — WNYREIS
• 2020-07-16 Price Changed $65,900 WNYREIS
• 2020-05-22 Price Changed $80,000 WNYREIS
• 2020-03-06 Price Changed $89,900 WNYREIS
• 2020-02-18 Listed $99,900 WNYREIS
• 2005-11-02 Sold (Public Records) $40,900 Public Records

Property tax history

+0.9%/yr

Latest (2025): $271 · +2.8% YoY. Source: county tax records.