135 Whitehall Ave · Buffalo, NY 14220

$285,000

5 bd · 2.0 ba · 2,160 sqft · MultiFamily public records · 7 Days on market

Built 1930 4,025 sqft lot Est $261k · 9% over

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Why this score? — see what drove the C- 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 +23.8/30.0
• DSCR +7.7/10.0
• 1% rule +4.9/10.0
• Rent growth +4.4/5.0
• Livability +3.9/5.0
• ARV discount +3.4/15.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Welcome to this spacious, clean, well maintained, move in ready 3/2 bedroom double in demand South Buffalo neighborhood. Located near all conveniences including the thruway and skyway. The interior of this house has recently been painted, has some hardwood floors, wall to wall carpeting and tiled floors. . The kitchen and bathrooms have been updated, has some replacement windows and glass block windows in basement . The apartments have separate utilities, laundry hook ups in basement, central air, newer furnaces and hot water tanks. The upper apartment boasts a decorative fireplace. Light fixtures in the upper apartment dining room are excluded. The seller is not able to do any repairs as a result of home inspection and will need time to find suitable housing. Showings begin on Monday, May 17, at 12:00 P. M. and require 24 hour notice.

Key facts

• Tile floors
• Remodeled kitchens
• Newer furnaces

Tags

• REMODELED KITCHENS
• REMODELED BATHROOMS
• HARDWOOD FLOORS
• TILE FLOORS
• NEWER FURNACES
• HOT WATER TANKS

Property features AI

Finance

• Financial info: Owner pays water; Rent includes water; Two-unit property with separate gas and electric meters; Professional management and water/sewer included in operating expenses; Unit 1 actual rent $1,250 (leased through May 31, 2026); Unit 2 actual rent $1,350 (leased through May 31, 2026)

Exterior

• Parking: Detached 2-car garage; Concrete parking surfaces
• Utilities: Electricity connected (circuit breakers); Public water connected; Sewer connected; Cable available; High-speed internet available
• Home design: Two-story building; Residential 2-unit zoning; Existing condition
• Construction: Shake siding; Asphalt architectural shingle roof; Block foundation
• Exterior features: Covered and open porch; Patio/porch; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Dishwasher; Oven/Range; Refrigerator; Microwave; Eat-in kitchen; Dining area open to living room (per unit descriptions)
• Bedrooms: One unit with 2 bedrooms; One unit with 3 bedrooms
• Flooring: Carpet; Hardwood; Tile; Varies by area
• Bathrooms: Three full bathrooms total; Unit 1 has 1 full bathroom; Unit 2 has 2 full bathrooms
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Thermal windows; Storage; Natural woodwork
• Laundry & utility: Washer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $285k.

Deal economics

• At list price, monthly cash flow is $546 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $282k (1.2% below list).
• Recommended offer: $282k (1.2% below list) — sets the bar for 1% rule.

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); 138 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,815/mo this rent would consume 48% 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 $9k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.6% rent growth), your $80k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 $180k; list at $285k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $281,500 (1.2% 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 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: 0.99% ✗
• Cap rate: 8.59%
• Cash-on-cash: 8.21%
• DSCR: 1.37
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $261,360
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27 Cushing St	0.23mi	4/2.0 (-1)	2,076 (-4%)	4mo	$158,500	$76	74
125 Brookside Dr #127	0.50mi	5/2.0	2,142 (-1%)	2mo	$265,000	$124	74
92 Carlyle Ave	0.33mi	6/3.0 (+1)	2,140 (-1%)	9mo	$260,000	$121	67
6 Mckinley Pkwy	0.38mi	4/2.0 (-1)	2,110 (-2%)	9mo	$380,000	$180	66
140 Aldrich Pl	0.47mi	5/2.0	2,300 (+6%)	8mo	$260,000	$113	61
15 Arbour Ln	0.27mi	4/2.0 (-1)	1,856 (-14%)	7mo	$275,000	$148	54
111 Harding Rd	0.60mi	4/2.0 (-1)	2,330 (+8%)	3mo	$225,000	$97	51
204 Woodside Ave	0.58mi	6/2.0 (+1)	2,332 (+8%)	10mo	$280,000	$120	46
69 Red Jacket Pkwy	0.70mi	6/2.0 (+1)	2,032 (-6%)	10mo	$229,000	$113	44
32 Magnolia Ave	0.69mi	6/2.0 (+1)	2,376 (+10%)	5mo	$225,000	$95	42
938 Ridge Rd	0.65mi	5/3.0	2,466 (+14%)	5mo	$325,000	$132	38
55 Harding Rd	0.70mi	4/2.0 (-1)	1,844 (-15%)	9mo	$275,000	$149	30

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: 0.7%
• Equity multiple: 1.03×
• Total profit: $2,155
• Equity at exit: $42,494

10-year hold

• IRR: 14.1%
• Equity multiple: 2.35×
• Total profit: $107,938
• Equity at exit: $24,642

Cash invested: $79,800 (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: 138
• Price-to-rent: 16.9×

Monthly cashflow live

• Estimated rent: $2,815 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$64 /mo · $773/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$591
• Net cashflow: $546

Break-even live

Break-even rent $2,124

Max offer price $285,000

Occupancy floor 76%

Sensitivity live

Price	-10% $707	-5% $627	+0% $546	+5% $465	+10% $385
Rent	-10% $324	-5% $435	+0% $546	+5% $657	+10% $768
Rate	-1.0pp $690	-0.5pp $619	base $546	+0.5pp $472	+1.0pp $397

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,814
Total (2 units)			$2,815

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-21
   listed $285,000 Active
2. 2021-11-10
   soldstatus $180,000 Closed Sale or Rented 851-char remark

   Show marketing remark (851 chars)

   Welcome to this spacious, clean, well maintained, move in ready 3/2 bedroom double in demand South Buffalo neighborhood. Located near all conveniences including the thruway and skyway. The interior of this house has recently been painted, has some hardwood floors, wall to wall carpeting and tiled floors. . The kitchen and bathrooms have been updated, has some replacement windows and glass block windows in basement . The apartments have separate utilities, laundry hook ups in basement, central air, newer furnaces and hot water tanks. The upper apartment boasts a decorative fireplace. Light fixtures in the upper apartment dining room are excluded. The seller is not able to do any repairs as a result of home inspection and will need time to find suitable housing. Showings begin on Monday, May 17, at 12:00 P. M. and require 24 hour notice.

3. 2021-09-08
   status Under Contract- Do Not Show 851-char remark

   Show marketing remark (851 chars)

   Welcome to this spacious, clean, well maintained, move in ready 3/2 bedroom double in demand South Buffalo neighborhood. Located near all conveniences including the thruway and skyway. The interior of this house has recently been painted, has some hardwood floors, wall to wall carpeting and tiled floors. . The kitchen and bathrooms have been updated, has some replacement windows and glass block windows in basement . The apartments have separate utilities, laundry hook ups in basement, central air, newer furnaces and hot water tanks. The upper apartment boasts a decorative fireplace. Light fixtures in the upper apartment dining room are excluded. The seller is not able to do any repairs as a result of home inspection and will need time to find suitable housing. Showings begin on Monday, May 17, at 12:00 P. M. and require 24 hour notice.

4. 2021-06-17
   status Active 851-char remark

   Show marketing remark (851 chars)

   Welcome to this spacious, clean, well maintained, move in ready 3/2 bedroom double in demand South Buffalo neighborhood. Located near all conveniences including the thruway and skyway. The interior of this house has recently been painted, has some hardwood floors, wall to wall carpeting and tiled floors. . The kitchen and bathrooms have been updated, has some replacement windows and glass block windows in basement . The apartments have separate utilities, laundry hook ups in basement, central air, newer furnaces and hot water tanks. The upper apartment boasts a decorative fireplace. Light fixtures in the upper apartment dining room are excluded. The seller is not able to do any repairs as a result of home inspection and will need time to find suitable housing. Showings begin on Monday, May 17, at 12:00 P. M. and require 24 hour notice.

5. 2021-06-08
   status Under Contract- Do Not Show 851-char remark

   Show marketing remark (851 chars)

   Welcome to this spacious, clean, well maintained, move in ready 3/2 bedroom double in demand South Buffalo neighborhood. Located near all conveniences including the thruway and skyway. The interior of this house has recently been painted, has some hardwood floors, wall to wall carpeting and tiled floors. . The kitchen and bathrooms have been updated, has some replacement windows and glass block windows in basement . The apartments have separate utilities, laundry hook ups in basement, central air, newer furnaces and hot water tanks. The upper apartment boasts a decorative fireplace. Light fixtures in the upper apartment dining room are excluded. The seller is not able to do any repairs as a result of home inspection and will need time to find suitable housing. Showings begin on Monday, May 17, at 12:00 P. M. and require 24 hour notice.

6. 2021-05-28
   price $199,900 851-char remark

   Show marketing remark (851 chars)

   Welcome to this spacious, clean, well maintained, move in ready 3/2 bedroom double in demand South Buffalo neighborhood. Located near all conveniences including the thruway and skyway. The interior of this house has recently been painted, has some hardwood floors, wall to wall carpeting and tiled floors. . The kitchen and bathrooms have been updated, has some replacement windows and glass block windows in basement . The apartments have separate utilities, laundry hook ups in basement, central air, newer furnaces and hot water tanks. The upper apartment boasts a decorative fireplace. Light fixtures in the upper apartment dining room are excluded. The seller is not able to do any repairs as a result of home inspection and will need time to find suitable housing. Showings begin on Monday, May 17, at 12:00 P. M. and require 24 hour notice.

7. 2021-05-15
   listed $209,900 Active 851-char remark

   Show marketing remark (851 chars)

   Welcome to this spacious, clean, well maintained, move in ready 3/2 bedroom double in demand South Buffalo neighborhood. Located near all conveniences including the thruway and skyway. The interior of this house has recently been painted, has some hardwood floors, wall to wall carpeting and tiled floors. . The kitchen and bathrooms have been updated, has some replacement windows and glass block windows in basement . The apartments have separate utilities, laundry hook ups in basement, central air, newer furnaces and hot water tanks. The upper apartment boasts a decorative fireplace. Light fixtures in the upper apartment dining room are excluded. The seller is not able to do any repairs as a result of home inspection and will need time to find suitable housing. Showings begin on Monday, May 17, at 12:00 P. M. and require 24 hour notice.

8. 1999-03-16
   soldstatus $73,000

ⓘ 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: $773 · $64/mo
• Projected year-2 tax: $2,795 · $233/mo
• Expected delta: +$2,022/yr (+$168/mo · 261.4%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,780
• − Mortgage interest: −$15,964
• − Property taxes: −$773
• − Insurance: −$1,425
• − Repairs & maintenance: −$2,702
• − Management: −$2,702
• − Depreciation: −$8,291
• Taxable income: $1,921
• Est. tax owed @ 24.0%: −$461
• After-tax cash flow: $6,092/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

+290.4% since first listed

8 events — show timeline

• 2026-05-21 Listed $285,000 WNYREIS
• 2021-11-10 Sold (MLS) $180,000 WNYREIS
• 2021-09-08 Pending — WNYREIS
• 2021-06-17 Relisted — WNYREIS
• 2021-06-08 Pending — WNYREIS
• 2021-05-28 Price Changed $199,900 WNYREIS
• 2021-05-15 Listed $209,900 WNYREIS
• 1999-03-16 Sold (Public Records) $73,000 Public Records

Property tax history

+19.1%/yr

Latest (2025): $773 · +0.0% YoY. Source: county tax records.