58 Maryland St · Buffalo, NY 14201

$9,900

5 bd · 2.0 ba · 1,744 sqft · MultiFamily public records · 333 Days on market

Built 1890 2,500 sqft lot $6/sqft · 35% above area Est $7k · 36% over ↓ 49% since listing

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Why this score? — see what drove the D- 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 +15.0/30.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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 MLS

Must sell! Motivated seller! Vacant lot located in the lower west side area of Buffalo, close to downtown. Zone for residential and suitable for a single family, 2-unit home or recreational use. Lot can be sold as a package deal vacant lot located at 149 Arkansas (MLS B1624220). Note: The lot next door at 60 Maryland is being sold through a different broker. Purchasing both lots could be the perfect opportunity for a buyer/investor.

Key facts

• Vacant lot
• Lower west side
• Zone for residential

Tags

• VACANT LOT
• LOWER WEST SIDE
• CLOSE TO DOWNTOWN
• ZONE FOR RESIDENTIAL
• SUITABLE FOR SINGLE FAMILY
• SUITABLE FOR 2-UNIT HOME

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $10k.

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 ($2k rent vs $10k).
• Recommended offer: $9k (12.0% below list) — sets the bar for market timing.
• Cap rate 228.8% 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 (+4.3%/yr); 56 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,430/mo this rent would consume 72% of the median local household income ($41k/yr) (locally 1213% 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 $68 of loan paydown is wiped out by about $297 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 333 days — a 12% lower offer ($9k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 11y ago; this cycle's ask has dropped $5k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $8,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 333 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 24.54% ✓
• Cap rate: 228.83%
• Cash-on-cash: 794.78%
• DSCR: 36.36
• GRM: 0.3

CMA / ARV

• ARV (median comp): $7,300
• List price: $9,900
• Delta: 35.63%
• Verdict: OVERPRICED
• Comps: 2 within 2.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
533 Busti Ave	0.43mi	5/2.0	1,727 (-1%)	12mo	$162,007	$94	68
145 Hudson St	0.21mi	4/2.0 (-1)	1,492 (-14%)	5mo	$150,000	$101	57
372 Prospect Ave	0.35mi	4/3.0 (-1)	1,660 (-5%)	17mo	$408,000	$246	53
125 Whitney Pl	0.40mi	4/3.0 (-1)	1,976 (+13%)	6mo	$310,000	$157	45
9 West Ave	0.51mi	4/2.0 (-1)	1,980 (+14%)	6mo	$390,000	$197	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 · 4.28% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 43.76×
• Total profit: $118,543
• Equity at exit: $1,476

10-year hold

• IRR: —
• Equity multiple: 97.44×
• Total profit: $267,329
• Equity at exit: $856

Cash invested: $2,772 (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 14201

• Home prices YoY: -19.1%
• Rents YoY: 4.3%
• Active inventory: 56
• Price-to-rent: 0.3×

Monthly cashflow live

• Estimated rent: $2,430 medium
• Mortgage (P&I): −$52
• Tax from tax record: −$28 /mo · $331/yr
• Insurance: −$4
• HOA: −$0
• Vacancy / Maint / Mgmt: −$510
• Net cashflow: $1,836

Break-even live

Break-even rent $106

Max offer price $9,900

Occupancy floor 19%

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: $2,475
• Closing costs: $297
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
184 14th St Buffalo, NY	4.0	2.0	1950	$4,400	$2.26	23d	1	0.90mi

Listing history 42 events

1. 2026-06-18
   days on market $9,900 Active 333 DOM
2. 2026-06-17
   days on market $9,900 Active 332 DOM
3. 2026-06-16
   days on market $9,900 Active 331 DOM
4. 2026-06-15
   days on market $9,900 Active 330 DOM
5. 2026-06-13
   days on market $9,900 Active 328 DOM
6. 2026-06-13
   days on market $9,900 Active 327 DOM
7. 2026-06-10
   days on market $9,900 Active 325 DOM
8. 2026-06-09
   days on market $9,900 Active 324 DOM
9. 2026-06-08
   days on market $9,900 Active 323 DOM
10. 2026-06-07
    days on market $9,900 Active 322 DOM
11. 2026-06-03
    days on market $9,900 Active 318 DOM
12. 2026-06-02
    days on market $9,900 Active 317 DOM
13. 2026-06-01
    days on market $9,900 Active 316 DOM
14. 2026-05-31
    days on market $9,900 Active 315 DOM
15. 2026-01-12
    price $9,900 437-char remark

    Show marketing remark (437 chars)

    Must sell! Motivated seller! Vacant lot located in the lower west side area of Buffalo, close to downtown. Zone for residential and suitable for a single family, 2-unit home or recreational use. Lot can be sold as a package deal vacant lot located at 149 Arkansas (MLS B1624220). Note: The lot next door at 60 Maryland is being sold through a different broker. Purchasing both lots could be the perfect opportunity for a buyer/investor.

16. 2025-07-18
    listed $14,500 Active 437-char remark

    Show marketing remark (437 chars)

    Must sell! Motivated seller! Vacant lot located in the lower west side area of Buffalo, close to downtown. Zone for residential and suitable for a single family, 2-unit home or recreational use. Lot can be sold as a package deal vacant lot located at 149 Arkansas (MLS B1624220). Note: The lot next door at 60 Maryland is being sold through a different broker. Purchasing both lots could be the perfect opportunity for a buyer/investor.

17. 2023-02-22
    historical
18. 2022-10-16
    price $89,900
19. 2022-10-06
    price $94,000
20. 2022-08-22
    listed $99,000 Active
21. 2020-02-19
    soldstatus $30,000
22. 2020-02-13
    soldstatus $30,000 Closed Sale or Rented
23. 2020-01-12
    status Under Contract- Do Not Show
24. 2019-10-22
    price $39,900
25. 2019-10-09
    listed $42,900 Active
26. 2019-09-13
    historical
27. 2019-08-27
    status Active
28. 2019-08-07
    historical
29. 2019-06-28
    status Active
30. 2019-06-05
    historical
31. 2019-05-04
    price $47,900
32. 2019-03-29
    status Active
33. 2019-03-09
    historical
34. 2019-02-23
    listed $49,900 Active
35. 2016-07-31
    historical
36. 2016-01-28
    listed $49,580 Active
37. 2016-01-01
    historical
38. 2015-10-22
    price $44,800
39. 2015-10-05
    price $46,800
40. 2015-09-09
    listed $49,800 Active
41. 2009-09-14
    soldstatus $19,500
42. 2009-09-14
    soldstatus $19,500

ⓘ 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: $331 · $28/mo
• Projected year-2 tax: $331 · $28/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°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: $29,158
• − Mortgage interest: −$555
• − Property taxes: −$331
• − Insurance: −$50
• − Repairs & maintenance: −$2,333
• − Management: −$2,333
• − Depreciation: −$288
• Taxable income: $23,270
• Est. tax owed @ 24.0%: −$5,585
• After-tax cash flow: $16,447/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): 12,369
• Household income: $40,512
• Rent vs Own: 76.4% rent · 23.6% own
• Severe rent burden: 1213.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 42% Hispanic / Latino 36% Black 16% Two or more races 12% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 30% Dominican 1%
• Common ancestry: Romanian 7% Subsaharan African 2% Slovak 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 69% English-only · Spanish 24% Arabic 2% Other Indo-European 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: ▼ -68.73%
• Current HPI: 290.2643
• Rent YoY: ▲ 4.28%
• 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

-49.2% since first listed

28 events — show timeline

• 2026-01-12 Price Changed $9,900 WNYREIS
• 2025-07-18 Listed $14,500 WNYREIS
• 2023-02-22 Listing Removed — WNYREIS
• 2022-10-16 Price Changed $89,900 WNYREIS
• 2022-10-06 Price Changed $94,000 WNYREIS
• 2022-08-22 Listed $99,000 WNYREIS
• 2020-02-19 Sold (Public Records) $30,000 Public Records
• 2020-02-13 Sold (MLS) $30,000 WNYREIS
• 2020-01-12 Pending — WNYREIS
• 2019-10-22 Price Changed $39,900 WNYREIS
• 2019-10-09 Listed $42,900 WNYREIS
• 2019-09-13 Listing Removed — WNYREIS
• 2019-08-27 Relisted — WNYREIS
• 2019-08-07 Listing Removed — WNYREIS
• 2019-06-28 Relisted — WNYREIS
• 2019-06-05 Listing Removed — WNYREIS
• 2019-05-04 Price Changed $47,900 WNYREIS
• 2019-03-29 Relisted — WNYREIS
• 2019-03-09 Listing Removed — WNYREIS
• 2019-02-23 Listed $49,900 WNYREIS
• 2016-07-31 Listing Removed — WNYREIS
• 2016-01-28 Listed $49,580 WNYREIS
• 2016-01-01 Listing Removed — WNYREIS
• 2015-10-22 Price Changed $44,800 WNYREIS
• 2015-10-05 Price Changed $46,800 WNYREIS
• 2015-09-09 Listed $49,800 WNYREIS
• 2009-09-14 Sold (Public Records) $19,500 Public Records
• 2009-09-14 Sold (Public Records) $19,500 Public Records

Property tax history

+10.9%/yr

Latest (2025): $331 · +0.0% YoY. Source: county tax records.