284 Hazelwood Ave · Buffalo, NY 14215

$189,900

3 bd · 2.0 ba · 1,539 sqft · MultiFamily public records · 17 Days on market

Built 1917 7,560 sqft lot Est $154k · 23% 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.7/5.0
• 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

Excellent opportunity to own a well-maintained multi-family property at 284 HazelwoA14215. This two-unit home features 4 bedrooms and 2 full bathrooms, with each apartment offering 2 bedrooms and 1 full bath. Situated on a rare double lot, the property provides ample outdoor space, additional parking potential, and future possibilities. Both units offer spacious living areas and functional layouts, making this an attractive option for owner-occupants or investors. Kitchen appliances, including refrigerators and stoves, are included for both units. Separate living spaces provide flexibility for rental income or multi-generational living. Conveniently located near schools, shopping, public tr

Key facts

• Double lot
• Outdoor space
• 7,560 sq ft lot

Tags

• MULTI FAMILY PROPERTY
• DOUBLE LOT
• OUTDOOR SPACE
• ADDITIONAL PARKING POTENTIAL
• SEPARATE LIVING SPACES
• STRONG RENTAL POTENTIAL

Property features AI

Finance

• Other: Two separate electric meters; Two separate gas meters
• Financial info: Multi-family (2-unit) building with two units total; Operating expense details: See remarks; Owner pays: See remarks

Exterior

• Parking: Paved parking area
• Utilities: Public water connected; Sewer connected
• Home design: 2 stories; Resale property; Frame construction
• Construction: Frame construction; Existing structure
• Exterior features: Paved parking; Rectangular residential lot; City street frontage; Lot dimensions approximately 60 x 126

Interior

• Kitchen: Gas water heater
• Bedrooms: Each unit has 2 bedrooms
• Flooring: Ceramic tile; Laminate; Vinyl; Varied flooring
• Bathrooms: Each unit has 1 full bathroom (2 full bathrooms total)
• Heating & cooling: Gas forced-air heating
• Interior features: Partial basement; Formal dining room (in each unit)
• Laundry & utility: Separate gas meters for each unit; Separate electric meters for each unit

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $755 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.1% 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 flat; 237 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $2,370/mo this rent would consume 63% of the median local household income ($45k/yr) (locally 2873% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $53k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,051 (1.5% below list)

Questions for the listing agent

1. Built in 1917 — 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: 1.25% ✓
• Cap rate: 11.07%
• Cash-on-cash: 17.05%
• DSCR: 1.76
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $153,900
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
124 Roma Ave	0.25mi	4/2.0 (+1)	1,520 (-1%)	5mo	$235,000	$155	77
112 Hazelwood Ave	0.32mi	4/2.0 (+1)	1,498 (-3%)	1mo	$87,000	$58	75
157 Hazelwood Ave	0.24mi	2/2.0 (-1)	1,657 (+8%)	0mo	$80,000	$48	71
160 Courtland Ave	0.18mi	4/2.0 (+1)	1,620 (+5%)	13mo	$160,000	$99	67
213 Hagen St	0.42mi	4/2.0 (+1)	1,509 (-2%)	9mo	$150,000	$99	65
73 Oakmont Ave	0.44mi	4/2.0 (+1)	1,616 (+5%)	6mo	$215,000	$133	61
376 Norfolk Ave	0.71mi	4/2.0 (+1)	1,536 (-0%)	3mo	$160,000	$104	59
265 Hagen St	0.33mi	3/2.0	1,344 (-13%)	8mo	$172,000	$128	57
78 Freund St	0.55mi	4/2.0 (+1)	1,426 (-7%)	3mo	$130,000	$91	55
17 Proctor Ave	0.36mi	4/2.0 (+1)	1,756 (+14%)	8mo	$175,000	$100	48
122 Preston Rd	0.51mi	4/2.0 (+1)	1,764 (+15%)	11mo	$202,000	$115	38
124 Newburgh Ave	0.62mi	4/2.0 (+1)	1,750 (+14%)	7mo	$95,000	$54	38

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 · 0.67% rent growth · sell at horizon

5-year hold

• IRR: 5.9%
• Equity multiple: 1.22×
• Total profit: $11,831
• Equity at exit: $28,315

10-year hold

• IRR: 13.2%
• Equity multiple: 1.95×
• Total profit: $50,653
• Equity at exit: $16,419

Cash invested: $53,172 (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 14215

• Home prices YoY: -30.0%
• Rents YoY: 0.7%
• Active inventory: 237
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $2,370 high
• Mortgage (P&I): −$996
• Tax from tax record: −$42 /mo · $502/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$498
• Net cashflow: $755

Break-even live

Break-even rent $1,414

Max offer price $189,900

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,370
Total (2 units)			$2,370

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
110 Gerald Ave Buffalo, NY	2.0	1.0	2098	$1,100	$0.52	23d	1	0.21mi
71 Gerald Ave Buffalo, NY	2.0	1.0	1773	$1,100	$0.62	44d	1	0.29mi
216 Newburgh Ave Buffalo, NY	2.0	1.0	1690	$1,150	$0.68	23d	1	0.46mi
74 Dorris Ave Buffalo, NY	3.0	1.0	1200	$1,450	$1.21	44d	1	0.49mi
65 Domedion Ave Buffalo, NY	3.0	1.0	1632	$1,500	$0.92	1d	1	0.83mi
25 Parkridge Ave Buffalo, NY	3.0	1.0	1914	$1,350	$0.71	14d	1	0.98mi
189 Westminster Ave Buffalo, NY	4.0	1.5	1065	$1,595	$1.50	10d	1	0.99mi
96 Academy Rd Buffalo, NY	3.0	1.0	2247	$1,400	$0.62	23d	1	1.26mi
24 Euclid Ave Buffalo, NY	3.0	2.0	1150	$1,700	$1.48	44d	1	1.38mi
143 Reo Ave Buffalo, NY	3.0	2.0	1143	$1,600	$1.40	12d	1	1.40mi
517 Goodyear Ave Buffalo, NY	3.0	1.0	1559	$1,800	$1.15	19d	1	1.41mi
979 Walden Ave Buffalo, NY	4.0	3.0	1793	$2,000	$1.12	1d	1	1.45mi
263 Minnesota Ave Unit Upper Buffalo, NY	3.0	1.0	1242	$1,500	$1.21	14d	1	1.50mi

Listing history 13 events

1. 2026-06-18
   days on market $189,900 Active 17 DOM
2. 2026-06-17
   days on market $189,900 Active 16 DOM
3. 2026-06-16
   days on market $189,900 Active 15 DOM
4. 2026-06-15
   days on market $189,900 Active 14 DOM
5. 2026-06-13
   days on market $189,900 Active 12 DOM
6. 2026-06-13
   days on market $189,900 Active 11 DOM
7. 2026-06-10
   days on market $189,900 Active 9 DOM
8. 2026-06-09
   days on market $189,900 Active 8 DOM
9. 2026-06-08
   days on market $189,900 Active 7 DOM
10. 2026-06-07
    days on market $189,900 Active 6 DOM
11. 2026-06-03
    days on market $189,900 Active 2 DOM
12. 2026-06-02
    remarks 699-char remark
13. 2026-06-02
    listed $189,900 Active 1 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: $502 · $42/mo
• Projected year-2 tax: $1,856 · $155/mo
• Expected delta: +$1,354/yr (+$113/mo · 269.7%)

ⓘ 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) · 67% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,440
• − Mortgage interest: −$10,637
• − Property taxes: −$502
• − Insurance: −$950
• − Repairs & maintenance: −$2,275
• − Management: −$2,275
• − Depreciation: −$5,524
• Taxable income: $6,276
• Est. tax owed @ 24.0%: −$1,506
• After-tax cash flow: $7,560/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): 42,524
• Household income: $44,955
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 2873.0

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 Black (67%)
• Race & ethnicity: Black 67% White 15% Asian 7% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada, China
• Languages at home: 88% English-only · Other Indo-European 4% 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: ▼ -126.29%
• Current HPI: 295.2966
• Rent YoY: ▲ 0.67%
• 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

+374.8% since first listed

3 events — show timeline

• 2026-06-01 Listed $189,900 WNYREIS
• 2018-09-18 Listing Removed — WNYREIS
• 2018-08-20 Listed $40,000 WNYREIS

Property tax history

+5.9%/yr

Latest (2025): $502 · +90.6% YoY. Source: county tax records.