240 East St · Buffalo, NY 14207

$99,000

3 bd · 1.0 ba · 1,574 sqft · SingleFamily public records · 182 Days on market

Built 1850 2,723 sqft lot $63/sqft · 41% below area Est $168k · 41% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Listing remarks MLS

Welcome to this charming 3-bedroom, 1-bath home located in the heart of Buffalo's Riverside neighborhood. With 1,574 sq ft of living space, this property offers a flexible layout ideal for first-time buyers, investors, or anyone looking for a comfortable residence. Step inside to discover a spacious living area, a generous dining room, and a functional kitchen ready for your personal touches. The well-sized bedrooms are filled with natural light, and the layout provides opportunities for future updates or renovations. Additional features include a full basement for storage, a sizable yard, and street or driveway parking. Conveniently located in "Black Rock" also near local shops, restaurants, parks, schools, and public transportation, this home combines comfort and potential at an attractive price.

Key facts

• Functional kitchen
• Sizable yard
• Spacious living area

Tags

• SPACIOUS LIVING AREA
• GENEROUS DINING ROOM
• FUNCTIONAL KITCHEN
• FULL BASEMENT
• SIZABLE YARD
• STREET OR DRIVEWAY PARKING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $793 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.9% 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; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $1,746/mo this rent would consume 53% 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 $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask has dropped $45k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 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 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.76% ✓
• Cap rate: 15.91%
• Cash-on-cash: 34.33%
• DSCR: 2.53
• GRM: 4.7

CMA / ARV

• ARV (median comp): $167,815
• List price: $99,000
• Delta: -41.01%
• 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
103 Austin St	0.08mi	2/1.0 (-1)	1,600 (+2%)	4mo	$75,000	$47	86
42 Hoffman Pl	0.05mi	2/1.0 (-1)	1,522 (-3%)	11mo	$88,700	$58	78
111 Gorton St	0.17mi	4/1.0 (+1)	1,508 (-4%)	6mo	$164,900	$109	75
54 Gorton St	0.19mi	3/1.0	1,439 (-9%)	6mo	$155,000	$108	72
246 Amherst St	0.40mi	3/2.0	1,628 (+3%)	2mo	$85,500	$53	70
350 East St	0.21mi	4/1.0 (+1)	1,752 (+11%)	3mo	$110,000	$63	64
476 East St	0.44mi	4/2.0 (+1)	1,618 (+3%)	6mo	$100,000	$62	60
38 Ontario St	0.64mi	3/2.0	1,625 (+3%)	10mo	$68,500	$42	52
96 Amherst St	0.22mi	4/1.0 (+1)	1,786 (+14%)	15mo	$62,000	$35	50
72 Glor St	0.48mi	3/1.0	1,370 (-13%)	8mo	$160,000	$117	49
55 Peoria St	0.47mi	2/1.5 (-1)	1,472 (-6%)	14mo	$175,000	$119	48
62 Kail St	0.39mi	4/2.0 (+1)	1,757 (+12%)	7mo	$65,000	$37	48

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: 34.9%
• Equity multiple: 2.57×
• Total profit: $43,658
• Equity at exit: $14,761

10-year hold

• IRR: 44.2%
• Equity multiple: 6.23×
• Total profit: $144,906
• Equity at exit: $8,560

Cash invested: $27,720 (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: 4.7×

Monthly cashflow live

• Estimated rent: $1,746 high
• Mortgage (P&I): −$519
• Tax from tax record: −$26 /mo · $308/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $793

Break-even live

Break-even rent $742

Max offer price $99,000

Occupancy floor 50%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
78 Germain St Buffalo, NY	3.0	1.0	2030	$1,300	$0.64	14d	1	0.66mi
62 Germain St Buffalo, NY	3.0	1.0	1320	$1,250	$0.95	23d	1	0.67mi
118 Rano St Buffalo, NY	3.0	1.0	1050	$1,200	$1.14	21d	1	0.74mi
100 Forest Ave Buffalo, NY	2.0–4.0	2.0–4.0	1304	$1,600	$1.23	1d	14	0.75mi
1485 Niagara St Buffalo, NY	1.0–2.0	1.0	925	$2,174	$2.35	1d	1	0.93mi
232 Dewitt St Buffalo, NY	3.0	1.0	1200	$1,300	$1.08	23d	1	1.08mi
185 Potomac Ave Buffalo, NY	2.0	1.0	1200	$1,300	$1.08	23d	1	1.09mi
305 Bird Ave Unit 3 Buffalo, NY	3.0	1.5	1128	$2,300	$2.04	43d	1	1.12mi
309 Bird Ave Unit 1 Buffalo, NY	3.0	1.0	1100	$2,200	$2.00	43d	1	1.12mi
293 Grote St Buffalo, NY	1.0–2.0	1.0–2.0	817	$2,345	$2.87	1d	1	1.14mi
340 Bird Ave #202 Buffalo, NY	2.0	2.5	1505	$2,950	$1.96	10d	1	1.15mi
1360 Niagara St Buffalo, NY	1.0–2.0	1.0–2.0	1252	$2,396	$1.91	1d	2	1.17mi
374 Baynes St Buffalo, NY	3.0	1.0	1126	$1,550	$1.38	43d	1	1.21mi
37 Abbottsford Pl Buffalo, NY	3.0	1.0	1130	$1,650	$1.46	43d	1	1.21mi
139 Fordham Dr Buffalo, NY	3.0	1.0	1453	$1,700	$1.17	23d	1	1.23mi
311 Herkimer St #1 Buffalo, NY	3.0	1.0	1272	$1,400	$1.10	14d	1	1.25mi
52 Greeley St Unit Upper Buffalo, NY	2.0	1.0	1804	$1,000	$0.55	23d	1	1.25mi
158 Chadduck Ave Buffalo, NY	4.0	1.0	1200	$1,250	$1.04	23d	1	1.27mi
891 Richmond Ave Buffalo, NY	3.0	1.0	1176	$1,800	$1.53	43d	1	1.30mi
836 Richmond Ave Buffalo, NY	4.0	3.5	1982	$4,500	$2.27	43d	1	1.33mi
61 Baxter St Buffalo, NY	3.0	1.0	2014	$1,400	$0.70	1d	1	1.42mi

Listing history 22 events

1. 2026-06-18
   days on market $99,000 Active 182 DOM
2. 2026-06-17
   days on market $99,000 Active 181 DOM
3. 2026-06-16
   days on market $99,000 Active 180 DOM
4. 2026-06-15
   days on market $99,000 Active 179 DOM
5. 2026-06-13
   days on market $99,000 Active 177 DOM
6. 2026-06-13
   days on market $99,000 Active 176 DOM
7. 2026-06-10
   days on market $99,000 Active 174 DOM
8. 2026-06-09
   days on market $99,000 Active 173 DOM
9. 2026-06-08
   days on market $99,000 Active 172 DOM
10. 2026-06-07
    days on market $99,000 Active 171 DOM
11. 2026-06-03
    days on market $99,000 Active 167 DOM
12. 2026-06-02
    days on market $99,000 Active 166 DOM
13. 2026-06-01
    days on market $99,000 Active 165 DOM
14. 2026-05-31
    days on market $99,000 Active 164 DOM
15. 2026-02-17
    price $110,160 819-char remark

    Show marketing remark (819 chars)

    Welcome to this charming 3-bedroom, 1-bath home located in the heart of Buffalo's Riverside neighborhood. With 1,574 sq ft of living space, this property offers a flexible layout ideal for first-time buyers, investors, or anyone looking for a comfortable residence. Step inside to discover a spacious living area, a generous dining room, and a functional kitchen ready for your personal touches. The well-sized bedrooms are filled with natural light, and the layout provides opportunities for future updates or renovations. Additional features include a full basement for storage, a sizable yard, and street or driveway parking. Conveniently located in "Black Rock" also near local shops, restaurants, parks, schools, and public transportation, this home combines comfort and potential at an attractive price.

16. 2026-02-02
    price $129,600 819-char remark

    Show marketing remark (819 chars)

    Welcome to this charming 3-bedroom, 1-bath home located in the heart of Buffalo's Riverside neighborhood. With 1,574 sq ft of living space, this property offers a flexible layout ideal for first-time buyers, investors, or anyone looking for a comfortable residence. Step inside to discover a spacious living area, a generous dining room, and a functional kitchen ready for your personal touches. The well-sized bedrooms are filled with natural light, and the layout provides opportunities for future updates or renovations. Additional features include a full basement for storage, a sizable yard, and street or driveway parking. Conveniently located in "Black Rock" also near local shops, restaurants, parks, schools, and public transportation, this home combines comfort and potential at an attractive price.

17. 2025-12-18
    listed $144,400 Active 819-char remark

    Show marketing remark (819 chars)

    Welcome to this charming 3-bedroom, 1-bath home located in the heart of Buffalo's Riverside neighborhood. With 1,574 sq ft of living space, this property offers a flexible layout ideal for first-time buyers, investors, or anyone looking for a comfortable residence. Step inside to discover a spacious living area, a generous dining room, and a functional kitchen ready for your personal touches. The well-sized bedrooms are filled with natural light, and the layout provides opportunities for future updates or renovations. Additional features include a full basement for storage, a sizable yard, and street or driveway parking. Conveniently located in "Black Rock" also near local shops, restaurants, parks, schools, and public transportation, this home combines comfort and potential at an attractive price.

18. 2025-12-04
    historical
19. 2025-07-31
    listed $144,000 Active
20. 2025-03-05
    status Active
21. 2025-03-01
    listed $137,000 Active
22. 2014-08-12
    listed $19,900

ⓘ 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: $308 · $26/mo
• Projected year-2 tax: $991 · $83/mo
• Expected delta: +$682/yr (+$57/mo · 221.4%)

ⓘ 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 ≥92°F today · 14 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: $20,949
• − Mortgage interest: −$5,546
• − Property taxes: −$308
• − Insurance: −$495
• − Repairs & maintenance: −$1,676
• − Management: −$1,676
• − Depreciation: −$2,880
• Taxable income: $8,368
• Est. tax owed @ 24.0%: −$2,008
• After-tax cash flow: $7,508/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

+453.6% since first listed

8 events — show timeline

• 2026-02-17 Price Changed $110,160 WNYREIS
• 2026-02-02 Price Changed $129,600 WNYREIS
• 2025-12-18 Listed $144,400 WNYREIS
• 2025-12-04 Listing Removed — WNYREIS
• 2025-07-31 Listed $144,000 WNYREIS
• 2025-03-05 Relisted — WNYREIS
• 2025-03-01 Listed $137,000 WNYREIS
• 2014-08-12 Listed $19,900 WNYREIS

Property tax history

+4.8%/yr

Latest (2025): $308 · +0.0% YoY. Source: county tax records.