222 Jewett Ave · Buffalo, NY 14214

$174,900

6 bd · 2.0 ba · 2,400 sqft · MultiFamily public records · 16 Days on market

Built 1920 3,600 sqft lot Est $218k · 20% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.0/5.0
• 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: 2 units. confirmed

Listing remarks

Check out this well-maintained 3/3 two-family home located in the desirable Central Park area of Buffalo. Whether you're an investor looking to add to your portfolio or a first-time homebuyer seeking rental income to offset your mortgage, this property checks all the boxes. Each unit presents a spacious layout featuring formal dining rooms, natural woodwork, and charming architectural details throughout. Some hardwood floors add warmth and character, while the classic Buffalo style shines through in every room.

Key facts

• Natural woodwork
• Two-family home
• Formal dining rooms

Tags

• TWO-FAMILY HOME
• SPACIOUS LAYOUT
• FORMAL DINING ROOMS
• NATURAL WOODWORK
• CHARMING ARCHITECTURAL DETAILS
• HARDWOOD FLOORS

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $711/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.1% 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 rising fast (+5.8%/yr); 90 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,331/mo this rent would consume 69% of the median local household income ($58k/yr) (locally 1820% 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 $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $49k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 5 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 $30k; list at $175k implies a 483% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $172,276 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.90% ✓
• Cap rate: 16.05%
• Cash-on-cash: 34.86%
• DSCR: 2.55
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $218,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
172 Rodney Ave	0.17mi	6/2.5	2,430 (+1%)	7mo	$222,499	$92	82
258 Leroy Ave	0.06mi	6/2.0	2,200 (-8%)	6mo	$220,000	$100	79
2002 Fillmore Ave	0.43mi	6/2.0	2,390 (-0%)	4mo	$206,500	$86	76
2006 Fillmore Ave	0.42mi	5/2.0 (-1)	2,390 (-0%)	3mo	$84,800	$35	72
168 Rodney Ave	0.17mi	6/2.0	2,199 (-8%)	7mo	$175,000	$80	72
92 Wakefield Ave	0.06mi	6/2.0	2,046 (-15%)	8mo	$190,000	$93	66
73 Monticello Pl	0.70mi	6/2.0	2,424 (+1%)	3mo	$160,000	$66	63
2032 Fillmore Ave	0.38mi	6/2.0	2,226 (-7%)	10mo	$150,000	$67	62
84 Monticello Pl	0.67mi	6/2.0	2,591 (+8%)	0mo	$145,000	$56	55
1 Palos Pl	0.56mi	6/2.0	2,541 (+6%)	12mo	$230,000	$91	54
1681 Amherst St	0.53mi	6/2.0	2,728 (+14%)	10mo	$335,000	$123	44
96 Sussex St	0.69mi	5/2.0 (-1)	2,152 (-10%)	4mo	$255,000	$118	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 · 5.81% rent growth · sell at horizon

5-year hold

• IRR: 33.5%
• Equity multiple: 2.47×
• Total profit: $72,010
• Equity at exit: $26,078

10-year hold

• IRR: 42.0%
• Equity multiple: 5.53×
• Total profit: $221,685
• Equity at exit: $15,122

Cash invested: $48,972 (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 14214

• Rents YoY: 5.8%
• Active inventory: 90
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $3,331 high
• Mortgage (P&I): −$917
• Tax est. 1.5%: −$219 /mo · $2,624/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$700
• Net cashflow: $1,423

Break-even live

Break-even rent $1,530

Max offer price $174,900

Occupancy floor 52%

Sensitivity live

Price	-10% $1,544	-5% $1,483	+0% $1,423	+5% $1,362	+10% $1,302
Rent	-10% $1,160	-5% $1,291	+0% $1,423	+5% $1,554	+10% $1,686
Rate	-1.0pp $1,511	-0.5pp $1,467	base $1,423	+0.5pp $1,377	+1.0pp $1,331

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,332
Total (2 units)			$3,331

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
145 Minnesota Ave Buffalo, NY	7.0	2.0	2551	$4,900	$1.92	15d	1	1.06mi
15 Hughes Ave Buffalo, NY	7.0	2.0	1650	$3,000	$1.82	44d	1	1.10mi
175 Lisbon Ave Buffalo, NY	5.0	2.0	2000	$2,500	$1.25	15d	1	1.16mi
85 Highgate Ave Buffalo, NY	5.0	2.0	2193	$3,750	$1.71	15d	1	1.17mi
24 Custer St Buffalo, NY	5.0	2.0	2500	$3,000	$1.20	15d	1	1.17mi
133 Merrimac St Buffalo, NY	7.0	2.0	2327	$4,450	$1.91	15d	1	1.42mi

Listing history 14 events

1. 2026-04-12
   status Pending
2. 2026-03-27
   listed $174,900 Active
3. 2021-11-01
   status Under Contract- Do Not Show
4. 2021-10-28
   historical
5. 2021-10-01
   listed $144,900 Active
6. 2019-11-12
   status Under Contract- Do Not Show
7. 2019-11-12
   historical
8. 2019-10-21
   status Active
9. 2019-09-27
   status Under Contract- Do Not Show
10. 2019-08-11
    listed $99,900 Active
11. 2018-10-10
    historical
12. 2018-09-21
    listed $99,900 Active
13. 2018-07-16
    soldstatus $30,000
14. 2005-06-01
    soldstatus $18,000

ⓘ 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 2/10 Low 6 d/yr ≥93°F today · 13 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: $39,972
• − Mortgage interest: −$9,797
• − Property taxes: −$2,624
• − Insurance: −$874
• − Repairs & maintenance: −$3,198
• − Management: −$3,198
• − Depreciation: −$5,088
• Taxable income: $15,193
• Est. tax owed @ 24.0%: −$3,646
• After-tax cash flow: $13,427/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): 21,314
• Household income: $58,228
• Rent vs Own: 57.7% rent · 42.3% own
• Severe rent burden: 1820.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 47% Black 31% Asian 11% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 5% Lithuanian 2% Scotch-Irish 1%
• Foreign-born: 14% · Canada, China
• Languages at home: 81% English-only · Other Indo-European 7% Spanish 4% Other Asian/Pacific 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: ▼ -282.52%
• Current HPI: 373.377
• Rent YoY: ▲ 5.81%
• 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

+871.7% since first listed

14 events — show timeline

• 2026-04-12 Pending — WNYREIS
• 2026-03-27 Listed $174,900 WNYREIS
• 2021-11-01 Pending — WNYREIS
• 2021-10-28 Listing Removed — WNYREIS
• 2021-10-01 Listed $144,900 WNYREIS
• 2019-11-12 Pending — WNYREIS
• 2019-11-12 Listing Removed — WNYREIS
• 2019-10-21 Relisted — WNYREIS
• 2019-09-27 Pending — WNYREIS
• 2019-08-11 Listed $99,900 WNYREIS
• 2018-10-10 Listing Removed — WNYREIS
• 2018-09-21 Listed $99,900 WNYREIS
• 2018-07-16 Sold (Public Records) $30,000 Public Records
• 2005-06-01 Sold (Public Records) $18,000 Public Records

Property tax history

+7.9%/yr

Latest (2025): $308 · +0.0% YoY. Source: county tax records.