57 Norman Ave · Buffalo, NY 14210

$144,900

4 bd · 1.0 ba · 1,892 sqft · SingleFamily public records · 125 Days on market

Built 1908 3,240 sqft lot Est $227k · 36% under

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Why this score? — see what drove the A- 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 +27.7/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +9.8/10.0
• 1% rule +6.3/10.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

3/1 double in prime location. Great rents and cashflow. Roof is just 3 years old, furnace is brand new, and back unit has been recently renovated. This home is priced to sell!

Key facts

• In-law studio suite
• 3,240 sq ft lot
• 2 garage spots

Tags

• IN-LAW STUDIO SUITE
• INCOME PRODUCING OPPORTUNITY
• HIGHLY CONVENIENT NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $439 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 8.0% in Buffalo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (+12.7%/yr); 94 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).
• This rent runs 36% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $15k of equity ($1k loan paydown + $14k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $41k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 6 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.
• Current owner paid $60k; list at $145k implies a 142% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 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 1908 — 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: 1.13% ✓
• Cap rate: 9.93%
• Cash-on-cash: 12.98%
• DSCR: 1.58
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $227,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27 Dorr St	0.44mi	4/2.0	1,817 (-4%)	7mo	$250,000	$138	63
55 Princeton Pl	0.22mi	5/1.0 (+1)	1,617 (-14%)	2mo	$190,000	$118	59
64 Alsace Ave	0.70mi	4/1.5	1,824 (-4%)	1mo	$360,000	$197	58
29 Pomona Pl	0.54mi	3/1.0 (-1)	1,771 (-6%)	4mo	$91,000	$51	56
123 Unger Ave	0.65mi	3/1.0 (-1)	1,788 (-6%)	4mo	$135,000	$76	52
22 Cazenovia St	0.52mi	4/2.0	1,690 (-11%)	3mo	$285,000	$169	52
70 Alsace Ave	0.69mi	3/2.0 (-1)	1,968 (+4%)	1mo	$341,000	$173	51
188 Cumberland Ave	0.55mi	4/2.0	1,723 (-9%)	9mo	$143,000	$83	48
111 Sage Ave	0.62mi	4/1.5	1,676 (-11%)	8mo	$165,000	$98	43
65 Hammerschmidt Ave	0.54mi	3/1.5 (-1)	1,620 (-14%)	1mo	$195,000	$120	43
179 Columbus Ave	0.72mi	3/1.5 (-1)	1,664 (-12%)	2mo	$272,026	$163	37
45 Clio Ave	0.67mi	4/1.5	1,627 (-14%)	8mo	$175,000	$108	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 36.0%
• Equity multiple: 3.85×
• Total profit: $115,493
• Equity at exit: $130,537

10-year hold

• IRR: 32.6%
• Equity multiple: 9.37×
• Total profit: $339,520
• Equity at exit: $281,509

Cash invested: $40,572 (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 14210

• Home prices YoY: 13.8%
• Rents YoY: 12.7%
• Active inventory: 94
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,644 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$39 /mo · $471/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $439

Break-even live

Break-even rent $1,088

Max offer price $144,900

Occupancy floor 68%

Sensitivity live

Price	-10% $521	-5% $480	+0% $439	+5% $398	+10% $357
Rent	-10% $309	-5% $374	+0% $439	+5% $504	+10% $569
Rate	-1.0pp $512	-0.5pp $476	base $439	+0.5pp $401	+1.0pp $363

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
89 Macamley St #2 Buffalo, NY	3.0	1.0	1274	$1,100	$0.86	11d	1	1.00mi
74 Woodside Ave Unit 1 Buffalo, NY	3.0	1.0	1250	$1,510	$1.21	2d	1	1.18mi

Listing history 24 events

1. 2026-03-30
   status Pending
2. 2026-03-27
   historical Active Under Contract
3. 2026-03-02
   status Active
4. 2026-02-17
   historical Active Under Contract
5. 2026-01-03
   price $144,900
6. 2025-11-25
   listed $149,900 Active
7. 2025-03-13
   historical $1,300
8. 2025-02-22
   listed $1,300
9. 2021-03-12
   soldstatus $60,000 Closed Sale or Rented 175-char remark

   Show marketing remark (175 chars)

   3/1 double in prime location. Great rents and cashflow. Roof is just 3 years old, furnace is brand new, and back unit has been recently renovated. This home is priced to sell!

10. 2021-03-12
    soldstatus $60,000

    Show marketing remark (175 chars)

    3/1 double in prime location. Great rents and cashflow. Roof is just 3 years old, furnace is brand new, and back unit has been recently renovated. This home is priced to sell!

11. 2021-02-12
    status Under Contract- Do Not Show 175-char remark

    Show marketing remark (175 chars)

    3/1 double in prime location. Great rents and cashflow. Roof is just 3 years old, furnace is brand new, and back unit has been recently renovated. This home is priced to sell!

12. 2021-02-02
    price $79,900 175-char remark

    Show marketing remark (175 chars)

    3/1 double in prime location. Great rents and cashflow. Roof is just 3 years old, furnace is brand new, and back unit has been recently renovated. This home is priced to sell!

13. 2021-01-24
    price $84,900 175-char remark

    Show marketing remark (175 chars)

    3/1 double in prime location. Great rents and cashflow. Roof is just 3 years old, furnace is brand new, and back unit has been recently renovated. This home is priced to sell!

14. 2020-12-07
    price $89,900 175-char remark

    Show marketing remark (175 chars)

    3/1 double in prime location. Great rents and cashflow. Roof is just 3 years old, furnace is brand new, and back unit has been recently renovated. This home is priced to sell!

15. 2020-10-20
    price $94,900 175-char remark

    Show marketing remark (175 chars)

    3/1 double in prime location. Great rents and cashflow. Roof is just 3 years old, furnace is brand new, and back unit has been recently renovated. This home is priced to sell!

16. 2020-08-21
    price $99,900 175-char remark

    Show marketing remark (175 chars)

    3/1 double in prime location. Great rents and cashflow. Roof is just 3 years old, furnace is brand new, and back unit has been recently renovated. This home is priced to sell!

17. 2020-07-28
    listed $109,900 Active 175-char remark

    Show marketing remark (175 chars)

    3/1 double in prime location. Great rents and cashflow. Roof is just 3 years old, furnace is brand new, and back unit has been recently renovated. This home is priced to sell!

18. 2019-08-23
    soldstatus $65,000 Closed Sale or Rented 63-char remark

    Show marketing remark (63 chars)

    3/1 Double conveniently located off Seneca St in South Buffalo.

19. 2019-08-22
    listed $65,000 Active 63-char remark

    Show marketing remark (63 chars)

    3/1 Double conveniently located off Seneca St in South Buffalo.

20. 2019-08-05
    soldstatus $65,000
21. 2018-10-18
    soldstatus $35,000 Closed Sale or Rented
22. 2018-10-15
    status Pending Sale
23. 2018-08-31
    status Under Contract- Do Not Show
24. 2018-08-01
    listed $44,500 Active

ⓘ 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: $471 · $39/mo
• Projected year-2 tax: $1,460 · $122/mo
• Expected delta: +$989/yr (+$82/mo · 210.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°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: $19,722
• − Mortgage interest: −$8,117
• − Property taxes: −$471
• − Insurance: −$724
• − Repairs & maintenance: −$1,578
• − Management: −$1,578
• − Depreciation: −$4,215
• Taxable income: $3,039
• Est. tax owed @ 24.0%: −$729
• After-tax cash flow: $4,537/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): 15,563
• Household income: $54,197
• Rent vs Own: 53.9% rent · 46.1% own
• Severe rent burden: 959.0

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 White (79%)
• Race & ethnicity: White 79% Two or more races 8% Black 8% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 21% Lithuanian 2% Serbian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 95% English-only · Spanish 2% Arabic 1% Other Indo-European 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: ▲ 52.34%
• Current HPI: 431.7951
• Rent YoY: ▲ 12.67%
• 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

+225.6% since first listed

24 events — show timeline

• 2026-03-30 Pending — WNYREIS
• 2026-03-27 Contingent — WNYREIS
• 2026-03-02 Relisted — WNYREIS
• 2026-02-17 Contingent — WNYREIS
• 2026-01-03 Price Changed $144,900 WNYREIS
• 2025-11-25 Listed $149,900 WNYREIS
• 2025-03-13 Rental Removed $1,300 PROPERTYWARE
• 2025-02-22 Listed for Rent $1,300 PROPERTYWARE
• 2021-03-12 Sold (Public Records) $60,000 Public Records
• 2021-03-12 Sold (MLS) $60,000 WNYREIS
• 2021-02-12 Pending — WNYREIS
• 2021-02-02 Price Changed $79,900 WNYREIS
• 2021-01-24 Price Changed $84,900 WNYREIS
• 2020-12-07 Price Changed $89,900 WNYREIS
• 2020-10-20 Price Changed $94,900 WNYREIS
• 2020-08-21 Price Changed $99,900 WNYREIS
• 2020-07-28 Listed $109,900 WNYREIS
• 2019-08-23 Sold (MLS) $65,000 WNYREIS
• 2019-08-22 Listed $65,000 WNYREIS
• 2019-08-05 Sold (Public Records) $65,000 Public Records
• 2018-10-18 Sold (MLS) $35,000 WNYREIS
• 2018-10-15 Pending — WNYREIS
• 2018-08-31 Pending — WNYREIS
• 2018-08-01 Listed $44,500 WNYREIS

Property tax history

+9.9%/yr

Latest (2025): $471 · +0.0% YoY. Source: county tax records.