202 Purdy St · Buffalo, NY 14208

$199,900

3 bd · 1.0 ba · 1,220 sqft · SingleFamily public records · 117 Days on market

Built 1993 6,300 sqft lot Est $144k · 39% over

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Why this score? — see what drove the F 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 +12.7/30.0
• Livability +3.9/5.0
• DSCR +3.8/10.0
• 1% rule +3.6/10.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 202 Purdy St, Buffalo, NY 14208. This well laid out home was built in 1993 and offers 3 bedrooms and 1 full bathroom with a comfortable living room, formal dining area, and a functional kitchen. The property features a full basement providing ample storage or additional potential living space, along with an attached car garage for added convenience. A solid opportunity for owner occupants or investors looking to add value. Conveniently located near shopping, dining, and major routes. Don’t miss the chance to make this property your own.

Key facts

• Attached car garage
• Full basement
• 6,300 sq ft lot

Tags

• FULL BASEMENT
• ATTACHED CAR GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-20 ($-242/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (13.8% below list).
• Recommended offer: $172k (13.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 8.0% in Buffalo — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 43% of the median local income ($48k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $80k; list at $200k implies a 150% gain — meaningful room to come down on a strong offer.

Recommended offer $172,321 (13.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
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. 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 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: 0.86% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.43%
• DSCR: 0.98
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $143,960
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
71 Chester St	0.12mi	3/1.5	1,300 (+7%)	2mo	$250,000	$192	80
119 Purdy St	0.16mi	4/2.0 (+1)	1,269 (+4%)	18mo	$150,000	$118	62
86 Verplanck St	0.16mi	4/1.5 (+1)	1,258 (+3%)	22mo	$115,000	$91	62
378 Northland Ave	0.61mi	3/2.0	1,183 (-3%)	9mo	$125,000	$106	55
1319 Michigan Ave	0.52mi	3/1.5	1,301 (+7%)	22mo	$155,000	$119	44
1274 Michigan Ave	0.61mi	3/1.5	1,152 (-6%)	23mo	$213,000	$185	41
352 Florida St	0.64mi	3/2.0	1,150 (-6%)	23mo	$70,000	$61	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.0%
• Equity multiple: 0.40×
• Total profit: $-33,648
• Equity at exit: $29,806

10-year hold

• IRR: -8.9%
• Equity multiple: 0.45×
• Total profit: $-30,845
• Equity at exit: $17,284

Cash invested: $55,972 (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 14208

• Home prices YoY: -3.4%
• Active inventory: 54
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,723 high
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $-20

Break-even live

Break-even rent $1,749

Max offer price $196,987

Occupancy floor 96%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
76 Chester St Unit 1 Buffalo, NY	3.0	1.0	1100	$1,000	$0.91	14d	1	0.13mi
102 Florida St Buffalo, NY	3.0	1.0	1296	$1,650	$1.27	43d	1	0.32mi
1786 Main St Unit 103 Buffalo, NY	2.0	1.5	1110	$1,677	$1.51	43d	1	0.37mi
1786 Main St Unit 104 Buffalo, NY	2.0	2.0	1256	$1,875	$1.49	43d	1	0.37mi
104 Butler Ave Buffalo, NY	3.0	1.0	1000	$1,400	$1.40	43d	1	0.45mi
19 E Utica St Unit 203 Buffalo, NY	2.0	1.0	850	$1,300	$1.53	14d	1	0.53mi
238 Oxford Ave Unit Upper Buffalo, NY	3.0	1.0	1100	$1,600	$1.45	23d	1	0.54mi
1165 Delaware Ave Buffalo, NY	1.0–2.0	1.0	658	$1,250	$1.90	43d	1	0.59mi
184 Butler Ave Unit 1545840P Buffalo, NY	4.0	1.0	1496	$3,226	$2.16	14d	1	0.59mi
179 Donaldson Rd Buffalo, NY	3.0	1.0	1152	$1,350	$1.17	3d	1	0.60mi
1310 Delaware Ave Buffalo, NY	2.0	1.0	684	$1,275	$1.86	43d	1	0.65mi
88 W Utica St Unit 1 Buffalo, NY	3.0	2.0	990	$2,150	$2.17	2d	1	0.72mi
88 W Utica St Unit 1 Buffalo, NY	3.0	2.0	990	$2,150	$2.17	14d	1	0.72mi
1040 Delaware Ave Buffalo, NY	1.0–2.0	1.0	687	$1,500	$2.18	3d	4	0.75mi
1145 Michigan Ave Buffalo, NY	2.0	1.0–2.0	655	$2,049	$3.13	43d	1	0.84mi
75 Inwood Pl Unit Lower Buffalo, NY	2.0	1.0	1175	$1,550	$1.32	43d	1	0.86mi
916 Delaware Ave Buffalo, NY	2.0	1.0	750	$1,625	$2.17	3d	9	0.88mi
121 Humboldt Pkwy Unit B Buffalo, NY	2.0	1.0	1265	$1,750	$1.38	43d	1	0.89mi
117 Humboldt Pkwy Unit B Buffalo, NY	2.0	1.0	840	$1,850	$2.20	43d	1	0.90mi
117 Humboldt Pkwy Unit A Buffalo, NY	3.0	1.0	1105	$2,300	$2.08	43d	1	0.90mi
1155 Main St Buffalo, NY	2.0	1.0–2.0	592	$2,300	$3.88	43d	1	0.90mi
107 Humboldt Pkwy Unit A Buffalo, NY	2.0	1.0	1172	$1,995	$1.70	43d	1	0.91mi
1560 Delaware Ave Unit 1 Buffalo, NY	3.0	1.0	1000	$2,800	$2.80	23d	1	0.91mi
2 Agassiz Cir Unit B Buffalo, NY	2.0	1.0	983	$2,050	$2.09	23d	1	0.94mi
2 Agassiz Cir Unit A Buffalo, NY	2.0	1.0	1076	$2,150	$2.00	23d	1	0.94mi
685 Auburn Ave Unit 2 Buffalo, NY	3.0	1.0	1200	$1,750	$1.46	14d	1	0.94mi
685 Auburn Ave Buffalo, NY	2.0	1.0	1200	$1,600	$1.33	44d	1	0.94mi
888 Delaware Ave Buffalo, NY	2.0	1.0–2.0	899	$2,440	$2.71	23d	1	0.95mi
1152 Main St Apt 3 Buffalo, NY	3.0	1.0	1000	$2,400	$2.40	14d	1	0.95mi
130 Linwood Ave Buffalo, NY	2.0	1.0	900	$1,900	$2.11	23d	1	0.97mi
664 Auburn Ave Unit 2 Buffalo, NY	2.0	1.0	900	$2,200	$2.44	43d	1	0.98mi
408 Winslow Ave Unit 2 Buffalo, NY	3.0	1.0	1000	$1,050	$1.05	14d	1	1.00mi
825 Forest Ave Unit 1 Buffalo, NY	3.0	1.0	1200	$1,700	$1.42	3d	1	1.00mi
825 Forest Ave Buffalo, NY	3.0	1.0	1200	$2,000	$1.67	23d	1	1.00mi
569 Elmwood Ave Buffalo, NY	2.0	1.0	1500	$1,750	$1.17	11d	1	1.03mi
305 W Utica St Unit B302 Buffalo, NY	2.0	2.0	1180	$2,060	$1.75	14d	1	1.11mi
484 Ashland Ave Unit 9 Buffalo, NY	2.0	1.0	800	$1,250	$1.56	23d	1	1.12mi
19 North St Buffalo, NY	2.0	1.0–2.0	1306	$2,910	$2.23	10d	7	1.14mi
117 Bidwell Pkwy Unit 3 Buffalo, NY	2.0	1.0	1192	$1,500	$1.26	3d	1	1.14mi
1015 Elmwood Ave Unit 3 Buffalo, NY	2.0	2.0	1000	$1,400	$1.40	43d	1	1.17mi

Listing history 6 events

1. 2026-04-26
   status Pending
2. 2025-12-29
   listed $199,900 Active
3. 2025-01-28
   historical
4. 2024-09-24
   price $199,900
5. 2024-08-30
   listed $219,900 Active
6. 2005-12-16
   soldstatus $79,900

ⓘ 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 ≥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: $20,679
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,654
• − Management: −$1,654
• − Depreciation: −$5,815
• Taxable loss: −$3,641
• Est. tax savings @ 24.0%: +$874
• After-tax cash flow: $632/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

+150.2% since first listed

6 events — show timeline

• 2026-04-26 Pending — WNYREIS
• 2025-12-29 Listed $199,900 WNYREIS
• 2025-01-28 Listing Removed — WNYREIS
• 2024-09-24 Price Changed $199,900 WNYREIS
• 2024-08-30 Listed $219,900 WNYREIS
• 2005-12-16 Sold (Public Records) $79,900 Public Records

Property tax history

+1.0%/yr

Latest (2025): $303 · +0.0% YoY. Source: county tax records.