35 Elmview Pl · Buffalo, NY 14207

$349,900

6 bd · 2.0 ba · 2,704 sqft · MultiFamily public records · 8 Days on market

Built 1910 3,675 sqft lot Est $270k · 29% over

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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 +19.7/30.0
• DSCR +6.2/10.0
• Rent growth +4.5/5.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• 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: 2 units. confirmed

Listing remarks MLS

* * LOOKING FOR THAT MAINTENANCE FREE 2 UNIT IN N BUFFALO? * * HIGHLY DESIREABLE HOME OFFERING 3 BEDROOMS IN EACH FLAT. TAKE THIS OPPORTUNITY TO OWN A GREAT PROPERTY WITH ONE APARTMENT PAYING ALMOST THE ENTIRE MORTGAGE. SPACIOUS APPLIANCED KITCHENS, LARGE DINING & LIVING ROOMS, PRIVATE PORCHES FOR EACH UNIT, OFF-STEET PARKING, SEPARATE LAUNDRY HOOK-UPS, MASSIVE DRY BASEMENT, ETC. THIS PROPERTY IS MECHANICALLY SOUND WITH SIGNIFICANT UPDATES OVER THE YEARS. UPDATES INCL: TEAR-OFF ROOK 2014, REPLACEMENT WINDOWS 2015, BOTH FURNACES & HOT WATER TANKS 2015-2016, REFINISHED HARDWOOD FLOORS, CENTRAL AC IN LOWER UNIT. CONCRETE DRIVEWAY LEADS TO FULLY FENCED YARD WITH A DETACHED 1.5 CAR GARAGE. THIS HOME IS SITUATED BEAUTIFULLY ON THIS QUIET AND VERY QUAINT N BUFFALO STREET. NEARBY CONVENIENCES INCLUDE: SHOPPING, RESTAURANTS, PUBS & BISTROS, WEGMANS, ETC ETC.

Key facts

• Central ac
• Walk up attic
• Private porches

Tags

• RENTAL INCOME POTENTIAL
• OWNER OCCUPANT FLEXIBILITY
• PRIVATE PORCHES
• SEPARATE LAUNDRY HOOKUPS
• CENTRAL AC
• WALK UP ATTIC

Property features AI

Finance

• Financial info: Two-unit property with separate gas and electric meters for each unit; Owner pays water; water included in rent; Operating expenses include water; One unit listed with $1,250 actual monthly rent and is month-to-month; the other unit shows no rent listed

Exterior

• Parking: Garage with 1.5 spaces; Concrete driveway; Garage door opener; Two or more off-street spaces
• Utilities: Electricity connected; High-speed Internet available; Cable available; Public water connected; Sewer connected
• Home design: Two-story multifamily property; Resale condition; Vinyl siding exterior; Rectangular lot near public transit, city street frontage
• Construction: Vinyl siding construction; Existing (established) building; Two stories
• Exterior features: Fully fenced yard; Covered and open porch

Interior

• Kitchen: Dishwasher; Oven/Range; Refrigerator; Formal dining room in each unit
• Bedrooms: Two 3-bedroom units (each unit listed as 3 bedrooms)
• Flooring: Hardwood; Tile; Varies
• Bathrooms: Each unit has 1 full bathroom (2 full bathrooms total)
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Natural woodwork; Hardwood, tile, and varied flooring; Full basement
• Laundry & utility: Washer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $410 ($5k/yr) — positive. Per door: $205/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $312k (10.9% below list).
• Recommended offer: $312k (10.9% 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 (+8.2%/yr); 197 active listings in the ZIP; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,117/mo this rent would consume 94% 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $98k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 8 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 $277k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $311,700 (10.9% below list)

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 1910 — 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. 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?
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: 0.89% ✗
• Cap rate: 7.70%
• Cash-on-cash: 5.02%
• DSCR: 1.22
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $270,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
314 Bedford Ave	0.18mi	6/2.0	2,710 (+0%)	2mo	$387,500	$143	90
1540 Elmwood Ave	0.07mi	6/2.0	2,712 (+0%)	13mo	$350,000	$129	85
331 Bedford Ave	0.14mi	6/2.0	2,941 (+9%)	10mo	$365,000	$124	71
28 Marion St	0.27mi	6/3.0	2,912 (+8%)	0mo	$275,000	$94	70
903 Amherst St	0.48mi	5/3.0 (-1)	2,851 (+5%)	5mo	$300,000	$105	56
818 Amherst St	0.32mi	6/2.0	2,322 (-14%)	8mo	$300,000	$129	55
75 Saint Florian St	0.56mi	6/2.0	2,338 (-14%)	10mo	$160,000	$68	43
640 Grant St	0.71mi	6/3.0	2,858 (+6%)	12mo	$275,000	$96	43
39 Letchworth St	0.70mi	6/2.0	2,552 (-6%)	21mo	$218,500	$86	41
144 Peter St	0.48mi	6/3.0	2,380 (-12%)	19mo	$140,000	$59	38
877 Hertel Ave	0.61mi	6/2.0	2,312 (-14%)	18mo	$205,000	$89	32
52 Sunset St	0.72mi	6/2.0	2,304 (-15%)	16mo	$230,000	$100	28

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: -3.7%
• Equity multiple: 0.85×
• Total profit: $-14,297
• Equity at exit: $52,171

10-year hold

• IRR: 10.4%
• Equity multiple: 1.97×
• Total profit: $95,419
• Equity at exit: $30,253

Cash invested: $97,972 (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 14207

• Home prices YoY: -18.9%
• Rents YoY: 8.2%
• Active inventory: 197
• Price-to-rent: 18.7×

Monthly cashflow live

• Estimated rent: $3,117 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$72 /mo · $862/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$655
• Net cashflow: $410

Break-even live

Break-even rent $2,598

Max offer price $349,900

Occupancy floor 82%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,118
Total (2 units)			$3,117

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $349,900 Active 8 DOM
2. 2026-06-17
   days on market $349,900 Active 7 DOM
3. 2026-06-16
   days on market $349,900 Active 6 DOM
4. 2026-06-15
   days on market $349,900 Active 5 DOM
5. 2026-06-13
   days on market $349,900 Active 3 DOM
6. 2026-06-13
   remarks 681-char remark
7. 2026-06-13
   listed $349,900 Active 2 DOM

ⓘ 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: $862 · $72/mo
• Projected year-2 tax: $3,388 · $282/mo
• Expected delta: +$2,526/yr (+$210/mo · 293.0%)

ⓘ 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 ≥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: $37,404
• − Mortgage interest: −$19,600
• − Property taxes: −$862
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,992
• − Management: −$2,992
• − Depreciation: −$10,179
• Taxable loss: −$971
• Est. tax savings @ 24.0%: +$233
• After-tax cash flow: $5,152/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

+363.4% since first listed

8 events — show timeline

• 2026-06-10 Listed $349,900 WNYREIS
• 2021-02-12 Sold (Public Records) $277,000 Public Records
• 2021-01-22 Sold (MLS) $277,000 WNYREIS
• 2021-01-09 Pending — WNYREIS
• 2020-12-01 Pending — WNYREIS
• 2020-11-20 Listed $269,000 WNYREIS
• 2011-07-19 Sold (Public Records) $95,000 Public Records
• 1997-05-01 Sold (Public Records) $75,500 Public Records

Property tax history

+6.4%/yr

Latest (2025): $862 · -17.3% YoY. Source: county tax records.