189 Kingsley St · Buffalo, NY 14208

$269,900

5 bd · 2.0 ba · 2,835 sqft · Townhouse public records · 18 Days on market

Built 1910 3,481 sqft lot Est $235k · 15% over ↓ 4% since listing

---

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 +14.7/30.0
• DSCR +4.5/10.0
• 1% rule +4.1/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.9/15.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 4-bedroom, 3 full bathroom 2- family home offering approximately 2,835 Sq Ft of living space on a 3,540 Sq Ft lot. Features include a full basement and a long driveway providing ample off-street parking. The property also offers a unique bonus—an additional backyard structure ideal for gatherings, entertainment, or flexible use. Conveniently close to the University at Buffalo, ECMC Hospital, shopping, dining, and public transportation, with easy access to major routes. Great opportunity for both owner-occupants and investors. This property was updated in 2015 with permits, including electrical, plumbing, water line, insulation, drywall, roof, and furnaces. Hot water tanks wer

Key facts

• Updated in 2015
• Full basement
• Long driveway

Tags

• FULL BASEMENT
• LONG DRIVEWAY
• BACKYARD STRUCTURE
• UPDATED IN 2015
• LAUNDRY HOOKUPS AVAILABLE
• LIVE VIDEO SURVEILLANCE

Property features AI

Finance

• Other: Two total dwelling units; Two separate gas meters and two separate electric meters
• Financial info: Operating expenses include water/sewer for multi-family operation; Property zoned Residential 2 Unit

Exterior

• Parking: Paved parking with two or more spaces
• Utilities: Public water connected; Sewer connected; Cable available; Water service provided by owner for tenants
• Home design: Two-story residential building; Designed as a 2-unit (multi-family) residence
• Construction: Brick and vinyl siding exterior; Stone foundation; Asphalt shingle roof; Existing (pre-owned) condition; Copper plumbing
• Exterior features: Rectangular residential lot with city street frontage; Lot dimensions approximately 30 x 118

Interior

• Kitchen: Oven/Range included; Gas water heater
• Bedrooms: Two 2-bedroom units (each unit has 2 bedrooms)
• Flooring: Hardwood; Laminate; Luxury vinyl; Resilient; Tile; Vinyl; Varies
• Bathrooms: Three full bathrooms total across the property (two in one unit, one in the other)
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood, laminate, luxury vinyl, resilient, tile, vinyl, and mixed flooring throughout; Full basement
• Laundry & utility: Separate gas and electric meters (two of each)

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath townhouse listed at $270k.

Deal economics

• At list price, monthly cash flow is $71 ($854/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 $245k (9.2% below list).
• Recommended offer: $245k (9.2% 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: 54 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,451/mo this rent would consume 61% of the median local household income ($48k/yr) (locally 723% 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 $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($266k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $245,110 (9.2% below list)

Questions for the listing agent

1. Built in 1910 — 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. 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?
5. 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.
6. 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.
7. 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: 0.91% ✗
• Cap rate: 6.61%
• Cash-on-cash: 1.13%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $235,305
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
362 E Utica St Unit N	0.36mi	6/2.0 (+1)	2,860 (+1%)	8mo	$80,000	$28	69
56 Butler Ave	0.60mi	6/2.0 (+1)	2,860 (+1%)	12mo	$237,000	$83	55
68 Walden Ave	0.72mi	5/2.0	2,509 (-12%)	1mo	$220,101	$88	46
475 Woodlawn Ave	0.39mi	6/2.0 (+1)	2,548 (-10%)	21mo	$111,000	$44	43
67 Urban St	0.53mi	6/2.0 (+1)	2,438 (-14%)	5mo	$275,000	$113	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.48×
• Total profit: $-39,167
• Equity at exit: $40,243

10-year hold

• IRR: -5.7%
• Equity multiple: 0.63×
• Total profit: $-28,120
• Equity at exit: $23,336

Cash invested: $75,572 (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 14208

• Home prices YoY: -3.4%
• Active inventory: 54
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,451 medium
• Mortgage (P&I): −$1,415
• Tax est. 1.5%: −$337 /mo · $4,048/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$515
• Net cashflow: $71

Break-even live

Break-even rent $2,361

Max offer price $269,900

Occupancy floor 92%

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
98 E Delavan Ave Buffalo, NY	4.0	2.0	3105	$2,000	$0.64	43d	1	1.05mi
91 W Humboldt Pkwy Buffalo, NY	4.0	2.0	3017	$3,400	$1.13	43d	1	1.50mi

Listing history 6 events

1. 2026-04-27
   status Pending
2. 2026-04-08
   listed $269,900 Active
3. 2025-11-30
   historical
4. 2025-10-20
   listed $269,900 Active
5. 2025-09-15
   price $274,900
6. 2025-08-12
   listed $279,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥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: $29,413
• − Mortgage interest: −$15,119
• − Property taxes: −$4,048
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,353
• − Management: −$2,353
• − Depreciation: −$7,852
• Taxable loss: −$3,661
• Est. tax savings @ 24.0%: +$879
• After-tax cash flow: $1,732/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): 12,572
• Household income: $48,476
• Rent vs Own: 46.2% rent · 53.8% own
• Severe rent burden: 723.0

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 (72%)
• Race & ethnicity: Black 72% White 15% Asian 6% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 2% Italian 1% Hispanic 0%
• Foreign-born: 7% · Canada, South Korea, Philippines
• Languages at home: 89% English-only · Other Indo-European 3% Spanish 2% French/Haitian/Cajun 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: ▼ -16.37%
• Current HPI: 459.2084
• Rent YoY: —
• 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

-3.6% since first listed

6 events — show timeline

• 2026-04-27 Pending — WNYREIS
• 2026-04-08 Listed $269,900 WNYREIS
• 2025-11-30 Listing Removed — WNYREIS
• 2025-10-20 Listed $269,900 WNYREIS
• 2025-09-15 Price Changed $274,900 WNYREIS
• 2025-08-12 Listed $279,900 WNYREIS

Property tax history

+9.4%/yr

Latest (2025): $219 · +0.0% YoY. Source: county tax records.