335 Riverside Ave · Buffalo, NY 14207

$299,000

6 bd · 2.0 ba · 2,184 sqft · MultiFamily public records · 12 Days on market

Built 1900 3,000 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Completely renovated Multi-Family Home located at 335 Riverside Avenue, Buffalo, NY, in a quiet and desirable neighborhood. Each spacious unit offers 3 bedrooms, a living room, dining room, kitchen, and full bathroom, making it a perfect opportunity for both investors and owner-occupants. The property includes a full basement, full attic, and a detached garage providing ample storage and parking space. Recent updates include fresh interior paint, new hardwood flooring, modern bathrooms, brand-new kitchens with stylish finishes, updated lighting, new windows, and many more quality improvements. This move-in-ready home combines modern living with classic charm and is conveniently located near

Key facts

• Full basement
• Modern bathrooms
• Full attic

Tags

• RENOVATED MULTI-FAMILY HOME
• FULL BASEMENT
• FULL ATTIC
• DETACHED GARAGE
• MODERN BATHROOMS
• BRAND-NEW KITCHENS

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $299k).
• Cap rate 13.2% 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; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $4,782/mo this rent would consume 144% 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 $9k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $84k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.
• Current owner paid $44k; list at $299k implies a 580% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $299,000

Questions for the listing agent

1. Built in 1900 — 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: 1.60% ✓
• Cap rate: 13.16%
• Cash-on-cash: 24.53%
• DSCR: 2.09
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $172,536
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
74 Philadelphia St	0.49mi	6/2.0	2,160 (-1%)	5mo	$170,000	$79	71
5 Humphrey Rd	0.43mi	6/2.0	2,112 (-3%)	5mo	$230,648	$109	70
908 Tonawanda St	0.42mi	6/2.0	2,332 (+7%)	2mo	$145,000	$62	68
129 Philadelphia St	0.42mi	6/2.0	2,292 (+5%)	9mo	$250,000	$109	64
20 Garfield St	0.67mi	6/2.0	2,120 (-3%)	6mo	$130,000	$61	59
43 Sunset St	0.74mi	6/2.0	2,271 (+4%)	1mo	$165,000	$73	58
395 Ontario St	0.24mi	5/2.0 (-1)	1,908 (-13%)	8mo	$270,000	$142	56
55 Briggs Ave	0.43mi	6/2.0	2,402 (+10%)	9mo	$115,000	$48	56
41 Page St	0.69mi	5/2.0 (-1)	2,274 (+4%)	4mo	$230,000	$101	53
102 Ullman St	0.72mi	5/2.0 (-1)	2,098 (-4%)	3mo	$165,000	$79	52
101 Baxter St	0.73mi	6/2.0	2,000 (-8%)	5mo	$140,000	$70	48
68 Baxter St	0.68mi	6/2.0	2,430 (+11%)	5mo	$165,000	$68	45

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: 23.4%
• Equity multiple: 2.03×
• Total profit: $85,897
• Equity at exit: $44,582

10-year hold

• IRR: 34.4%
• Equity multiple: 4.95×
• Total profit: $330,472
• Equity at exit: $25,852

Cash invested: $83,720 (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: 15.6×

Monthly cashflow live

• Estimated rent: $4,782 medium
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,004
• Net cashflow: $1,711

Break-even live

Break-even rent $2,616

Max offer price $299,000

Occupancy floor 59%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.5	$4,782
Total (3 units)			$4,782

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-06
   status Pending
2. 2026-03-24
   listed $299,000 Active
3. 2025-12-22
   historical
4. 2025-12-03
   price $299,900
5. 2025-11-07
   listed $269,900 Active
6. 2001-12-13
   soldstatus $44,000
7. 2001-12-13
   soldstatus $44,000

ⓘ 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $57,384
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$1,495
• − Repairs & maintenance: −$4,591
• − Management: −$4,591
• − Depreciation: −$8,698
• Taxable income: $16,776
• Est. tax owed @ 24.0%: −$4,026
• After-tax cash flow: $16,511/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

+579.5% since first listed

7 events — show timeline

• 2026-04-06 Pending — WNYREIS
• 2026-03-24 Listed $299,000 WNYREIS
• 2025-12-22 Listing Removed — WNYREIS
• 2025-12-03 Price Changed $299,900 WNYREIS
• 2025-11-07 Listed $269,900 WNYREIS
• 2001-12-13 Sold (Public Records) $44,000 Public Records
• 2001-12-13 Sold (Public Records) $44,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $387 · +0.0% YoY. Source: county tax records.