2065 S Park Ave · Buffalo, NY 14220

$249,900

6 bd · 4.0 ba · 3,600 sqft · MultiFamily · 49 Days on market

Built 1930 2,400 sqft lot $69/sqft · 42% below area Est $431k · 42% under

---

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 +27.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +7.6/10.0
• 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: 2 units. confirmed

Listing remarks MLS

LOWER FRONT - OFFICE, STORE ETC. REAR AND UPPER APARTMENTS - 1 BEDROOM @ $300/ 3 BEDROOM @ $450. SOLID BUILDING WITH 3 YEAR OLD ROOF. 3 FURNACES, 3 GAS & ELECTRIC METERS. AVERAGE MONTHLY EXPENSES - WATER - $30 / GARBAGE - $17 / INS. - $30 / TAXES $139. OWNER RETIRED, GOING TO FLORIDA, LET'S HELP HIM GET THERE!!

Key facts

• 2,400 sq ft lot
• Built 1930
• Listed 49 days

Property features AI

Finance

• Other: Three total units; Two separate gas meters; Two separate electric meters
• Financial info: Owner pays water (for rentals); Water/Sewer included in operating expenses

Exterior

• Parking: Paved parking
• Utilities: Public water connected; Sewer connected; Circuit breaker electrical service
• Home design: Two-story building; Resale property
• Construction: Brick and frame construction; Asphalt roof; PEX plumbing; Existing (previously built)
• Exterior features: Near public transit; Rectangular residential lot; City street frontage

Interior

• Flooring: Tile; Vinyl; Varies
• Bathrooms: Four full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Accessible doors; Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/?-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $765 ($9k/yr) — positive. Per door: $382/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 8.0% in Buffalo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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); 136 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,154/mo this rent would consume 53% 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 $70k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y 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 $30k; list at $250k implies a 733% 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 $242,403 (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 1930 — 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: 1.26% ✓
• Cap rate: 9.96%
• Cash-on-cash: 13.11%
• DSCR: 1.58
• GRM: 6.6

CMA / ARV

• ARV (median comp): $430,996
• List price: $249,900
• Delta: -42.02%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
164 Altruria St	0.12mi	6/2.0	3,330 (-8%)	17mo	$265,000	$80	60
145 Southside Pkwy	0.71mi	6/4.0	3,922 (+9%)	9mo	$275,000	$70	45
35 Choate Ave	0.15mi	7/3.0 (+1)	3,132 (-13%)	22mo	$325,000	$104	44

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: 8.2%
• Equity multiple: 1.34×
• Total profit: $23,598
• Equity at exit: $37,261

10-year hold

• IRR: 21.1%
• Equity multiple: 3.18×
• Total profit: $152,732
• Equity at exit: $21,607

Cash invested: $69,972 (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: 136
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $3,154 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,748/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$662
• Net cashflow: $765

Break-even live

Break-even rent $2,186

Max offer price $249,900

Occupancy floor 71%

Sensitivity live

Price	-10% $937	-5% $851	+0% $765	+5% $678	+10% $592
Rent	-10% $515	-5% $640	+0% $765	+5% $889	+10% $1,014
Rate	-1.0pp $891	-0.5pp $828	base $765	+0.5pp $700	+1.0pp $634

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	—	$3,154
Total (2 units)			$3,154

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $249,900 Active 49 DOM
2. 2026-06-17
   days on market $249,900 Active 48 DOM
3. 2026-06-16
   days on market $249,900 Active 47 DOM
4. 2026-06-15
   days on market $249,900 Active 46 DOM
5. 2026-06-13
   days on market $249,900 Active 44 DOM
6. 2026-06-13
   days on market $249,900 Active 43 DOM
7. 2026-06-10
   days on market $249,900 Active 41 DOM
8. 2026-06-09
   days on market $249,900 Active 40 DOM
9. 2026-06-08
   days on market $249,900 Active 39 DOM
10. 2026-06-07
    days on market $249,900 Active 38 DOM
11. 2026-06-03
    days on market $249,900 Active 34 DOM
12. 2026-06-02
    days on market $249,900 Active 33 DOM
13. 2026-06-01
    days on market $249,900 Active 32 DOM
14. 2026-05-31
    days on market $249,900 Active 31 DOM
15. 2026-04-30
    listed $249,900 Active 1021-char remark
16. 2025-11-30
    historical
17. 2025-08-14
    listed $279,900 Active
18. 2003-12-20
    soldstatus $30,000

    Show marketing remark (319 chars)

    LOWER FRONT - OFFICE, STORE ETC. REAR AND UPPER APARTMENTS - 1 BEDROOM @ $300/ 3 BEDROOM @ $450. SOLID BUILDING WITH 3 YEAR OLD ROOF. 3 FURNACES, 3 GAS & ELECTRIC METERS. AVERAGE MONTHLY EXPENSES - WATER - $30 / GARBAGE - $17 / INS. - $30 / TAXES $139. OWNER RETIRED, GOING TO FLORIDA, LET'S HELP HIM GET THERE!!

19. 2003-11-16
    listed $29,000

    Show marketing remark (319 chars)

    LOWER FRONT - OFFICE, STORE ETC. REAR AND UPPER APARTMENTS - 1 BEDROOM @ $300/ 3 BEDROOM @ $450. SOLID BUILDING WITH 3 YEAR OLD ROOF. 3 FURNACES, 3 GAS & ELECTRIC METERS. AVERAGE MONTHLY EXPENSES - WATER - $30 / GARBAGE - $17 / INS. - $30 / TAXES $139. OWNER RETIRED, GOING TO FLORIDA, LET'S HELP HIM GET THERE!!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $37,848
• − Mortgage interest: −$13,998
• − Property taxes: −$3,748
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,028
• − Management: −$3,028
• − Depreciation: −$7,270
• Taxable income: $5,526
• Est. tax owed @ 24.0%: −$1,326
• After-tax cash flow: $7,850/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

+761.7% since first listed

5 events — show timeline

• 2026-04-30 Listed $249,900 WNYREIS
• 2025-11-30 Listing Removed — WNYREIS
• 2025-08-14 Listed $279,900 WNYREIS
• 2003-12-20 Sold (MLS) $30,000 WNYREIS
• 2003-11-16 Listed $29,000 WNYREIS