81 Aldrich Pl · Buffalo, NY 14220

$159,000

5 bd · 2.0 ba · 2,016 sqft · MultiFamily public records · 87 Days on market

Built 1901 Fair condition 3,712 sqft lot $79/sqft · 57% below area

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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
• Schools +4.4/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• 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 MLS

NICELY MAINTAINED 3/2 DOUBLE ON A WELL KEPT STREET. LOWER HAS UPDATD KITCHEN, BATH, FIRST LAUNDRY ROOM, LARGE LIVING ROOM, BIG BACK YARD. GOOD PROPERTY FOR OWNER OR INVESTOR.

Key facts

• Strong rental demand
• Separate entrances
• 3,712 sq ft lot

Tags

• CASH FLOW OPPORTUNITY
• STRONG RENTAL DEMAND
• IMMEDIATE CASH FLOW POTENTIAL
• LOW MAINTENANCE CHARACTER HOME
• SEPARATE ENTRANCES
• ROOM FOR COSMETIC UPDATES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $159k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $936 ($11k/yr) — positive. Per door: $468/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $149k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.4% vs local median 6.9% 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.
• Zoned schools: International School (math 8% / reading 17%, grade F, #2,048 of 2,108 statewide, top 97%, 981 students, 92% FRL); Hutchinson Central Technical High School (math 96% / reading 32%, grade B-, #807 of 1,100 statewide, top 73%, 1,175 students, 78% FRL).
• Market conditions: 247 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).

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 + 3.0% rent growth), your $45k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 17y ago; this cycle's ask has dropped $40k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.51% ✓
• Cap rate: 13.36%
• Cash-on-cash: 25.23%
• DSCR: 2.12
• GRM: 5.5

CMA / ARV

• ARV (median comp): $368,745
• List price: $159,000
• Delta: -56.88%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
377 Marilla St	0.41mi	5/2.0	2,160 (+7%)	1mo	$265,000	$123	68
6 Mckinley Pkwy	0.23mi	4/2.0 (-1)	2,110 (+5%)	12mo	$380,000	$180	67
140 Aldrich Pl	0.11mi	5/2.0	2,300 (+14%)	11mo	$260,000	$113	62
77 Whitehall Ave	0.48mi	5/2.0	1,788 (-11%)	2mo	$277,567	$155	57
135 Whitehall Ave	0.58mi	5/3.0	2,160 (+7%)	2mo	$296,000	$137	56
15 Arbour Ln	0.44mi	4/2.0 (-1)	1,856 (-8%)	10mo	$275,000	$148	53
1313 Mckinley Pkwy	0.30mi	6/2.0 (+1)	2,304 (+14%)	12mo	$260,000	$113	47
55 Harding Rd	0.52mi	4/2.0 (-1)	1,844 (-8%)	12mo	$275,000	$149	46
16 Culver Rd	0.51mi	4/2.0 (-1)	1,800 (-11%)	11mo	$262,000	$146	44
442 Dorrance Ave	0.71mi	5/3.0	2,173 (+8%)	24mo	$340,000	$156	30
167 Hollywood Ave	0.74mi	5/2.0	2,291 (+14%)	18mo	$299,900	$131	28

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: 18.7%
• Equity multiple: 1.76×
• Total profit: $33,797
• Equity at exit: $23,707

10-year hold

• IRR: 27.1%
• Equity multiple: 3.38×
• Total profit: $105,989
• Equity at exit: $13,747

Cash invested: $44,520 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 9 active · 6 under contract
• Months of supply: 6.8 mo (15%/mo absorbed)
• Median asking: $200,000 ($106/sqft)
• Median days on market: 91 d
• This list price: 11% of active listings are priced below it
• ARV vs active asking: +72.8% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 14220

• Home prices YoY: -26.7%
• Active inventory: 247
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,400 high
• Mortgage (P&I): −$834
• Tax from tax record: −$60 /mo · $720/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $936

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$2,400
Total (2 units)			$2,400

Break-even live

Break-even rent $1,215

Max offer price $159,000

Occupancy floor 56%

Sensitivity live

Price	-10% $1,026	-5% $981	+0% $936	+5% $891	+10% $846
Rent	-10% $746	-5% $841	+0% $936	+5% $1,031	+10% $1,126
Rate	-1.0pp $1,016	-0.5pp $976	base $936	+0.5pp $895	+1.0pp $853

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: $39,750
• Closing costs: $4,770
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 Aldrich Pl Unit Lower Buffalo, NY	2.0	1.0	900	$1,200	$1.33	10d	1	0.05mi
121 McKinley Pkwy Unit 3 Buffalo, NY	1.0	1.0	925	$1,200	$1.30	82d	1	0.35mi
178 Ridgewood Rd Unit 3 Buffalo, NY	2.0	1.0	950	$1,200	$1.26	82d	1	0.46mi
133 Orchard Pl Lackawanna, NY	1.0–2.0	1.0	700	$1,855	$2.65	0d	1	0.65mi
151 Amber St Unit Upper Buffalo, NY	2.0	1.0	1058	$1,200	$1.13	79d	1	0.86mi
40 Eagan Dr Apt 3 Lackawanna, NY	2.0	1.0	1068	$1,100	$1.03	5d	1	0.93mi
40 Eagan Dr Apt 4 Lackawanna, NY	1.0	1.0	1068	$1,000	$0.94	5d	1	0.93mi
12 Knowlton Ave Lackawanna, NY	1.0	1.0	750	$975	$1.30	113d	1	1.20mi
105 Fernald Ave Buffalo, NY	1.0	1.0	674	$900	$1.34	79d	1	1.23mi
57 Kirby Ave Apt 1 Lackawanna, NY	2.0	1.0	560	$1,200	$2.14	80d	1	1.24mi
111 Southside Pkwy Buffalo, NY	1.0	1.0	1000	$1,000	$1.00	119d	1	1.30mi

Property features AI

Finance

• Financial info: Multi-family property with 2 total unitsSeparate gas and electric meters for each unitOwner pays water; water included in rentOperating expenses include water/sewerOne unit currently rented at $1,200

Exterior

• Parking: No driveway
• Utilities: Public water connectedSewer connected
• Home design: Two-story buildingResale propertyVinyl siding exterior
• Construction: Vinyl siding constructionExisting structure
• Exterior features: Rectangular residential lot with city street frontageLot dimensions approximately 29 x 128

Interior

• Kitchen: Gas water heater
• Bedrooms: One unit with 2 bedroomsOne unit with 3 bedrooms
• Flooring: Laminate and varied flooring
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement

Listing history 50 events

1. 2026-08-25
   days on market $159,000 Active 87 DOM
2. 2026-08-24
   days on market $159,000 Active 86 DOM
3. 2026-08-23
   days on market $159,000 Active 85 DOM
4. 2026-08-22
   days on market $159,000 Active 84 DOM
5. 2026-08-21
   days on market $159,000 Active 83 DOM
6. 2026-08-20
   days on market $159,000 Active 82 DOM
7. 2026-08-19
   days on market $159,000 Active 81 DOM
8. 2026-08-18
   days on market $159,000 Active 80 DOM
9. 2026-08-17
   days on market $159,000 Active 79 DOM
10. 2026-08-16
    days on market $159,000 Active 78 DOM
11. 2026-08-15
    days on market $159,000 Active 77 DOM
12. 2026-08-14
    days on market $159,000 Active 76 DOM
13. 2026-08-13
    days on market $159,000 Active 75 DOM
14. 2026-08-12
    days on market $159,000 Active 74 DOM
15. 2026-08-11
    days on market $159,000 Active 73 DOM
16. 2026-08-10
    days on market $159,000 Active 72 DOM
17. 2026-08-09
    days on market $159,000 Active 71 DOM
18. 2026-08-08
    days on market $159,000 Active 70 DOM
19. 2026-08-07
    days on market $159,000 Active 69 DOM
20. 2026-08-06
    days on market $159,000 Active 68 DOM
21. 2026-08-05
    days on market $159,000 Active 67 DOM
22. 2026-08-04
    days on market $159,000 Active 66 DOM
23. 2026-08-03
    days on market $159,000 Active 65 DOM
24. 2026-07-31
    days on market $159,000 Active 62 DOM
25. 2026-07-30
    days on market $159,000 Active 61 DOM
26. 2026-07-30
    days on market $159,000 Active 60 DOM
27. 2026-07-28
    days on market $159,000 Active 59 DOM
28. 2026-07-26
    days on market $159,000 Active 57 DOM
29. 2026-07-24
    days on market $159,000 Active 55 DOM
30. 2026-07-23
    days on market $159,000 Active 54 DOM
31. 2026-07-22
    days on market $159,000 Active 53 DOM
32. 2026-07-21
    days on market $159,000 Active 52 DOM
33. 2026-07-20
    days on market $159,000 Active 51 DOM
34. 2026-07-18
    remarks 687-char remark
35. 2026-07-18
    days on market $159,000 Active 49 DOM
36. 2026-07-18
    days on market $159,000 Active 48 DOM
37. 2026-07-16
    days on market $159,000 Active 47 DOM
38. 2026-07-15
    days on market $159,000 Active 46 DOM
39. 2026-07-14
    days on market $159,000 Active 45 DOM
40. 2026-07-13
    days on market $159,000 Active 44 DOM
41. 2026-07-13
    days on market $159,000 Active 43 DOM
42. 2026-07-11
    days on market $159,000 Active 42 DOM
43. 2026-07-10
    days on market $159,000 Active 41 DOM
44. 2026-07-09
    days on market $159,000 Active 40 DOM
45. 2026-07-07
    days on market $159,000 Active 38 DOM
46. 2026-07-06
    days on market $159,000 Active 37 DOM
47. 2026-07-05
    days on market $159,000 Active 36 DOM
48. 2026-07-03
    days on market $159,000 Active 34 DOM
49. 2026-07-02
    days on market $159,000 Active 33 DOM
50. 2026-07-01
    days on market $159,000 Active 32 DOM

ⓘ 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: $720 · $60/mo
• Projected year-2 tax: $1,704 · $142/mo
• Expected delta: +$984/yr (+$82/mo · 136.6%)

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

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 ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,800
• − Mortgage interest: −$8,906
• − Property taxes: −$720
• − Insurance: −$795
• − Repairs & maintenance: −$2,304
• − Management: −$2,304
• − Depreciation: −$4,625
• Taxable income: $9,145
• Est. tax owed @ 24.0%: −$2,195
• After-tax cash flow: $9,036/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab Est. rehab $50,400–$90,720 screening

The property requires moderate repairs, particularly to the roof and exterior siding, to improve its condition and value. Immediate attention to these areas would significantly enhance its resale and rental potential.

Deferred maintenance Est. $30,000–$90,000 screening

• Major Roof (roof) — The roof appears to be missing shingles and has visible damage.
• Major Windows (windows) — The windows have visible damage and appear to be in poor condition.
• Major Exterior (exterior) — The siding is peeling and there are visible signs of wear and tear.

Repairs flagged

• Major Roof — Significant damage visible on the roof.
• Moderate Exterior siding — Siding is weathered and peeling in places.
• Minor Interior paint — Paint is worn in some areas, but not severe enough to require immediate attention.
• Minor HVAC cleaning — HVAC units appear clean, but may benefit from a thorough cleaning.

Value-add opportunities

• Both New roof — A new roof would significantly increase the home's value and appeal. ↑
• Both Exterior painting — Fresh paint would improve curb appeal and home value. ↑
• Rental HVAC cleaning and maintenance — A clean and well-maintained HVAC system would attract tenants and improve tenant satisfaction. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 44/100

Zoned Schools

Elementary Discovery School F NY #1,444/2,108 Nat'l #19,648/41,679 High South Park High School D NY #999/1,100 Nat'l #6,127/17,239

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

B Composite livability gradescore 77/100

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 · 933,037 people
• City population: 440,021
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 24,428
• Household income: $70,963
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 12% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 6% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 10% Cuban 1%
• Common ancestry: Romanian 16% Lithuanian 1% Subsaharan African 1%
• Foreign-born: 4% · Canada, Jamaica, China
• Languages at home: 90% English-only · Spanish 4% Chinese 1%

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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: ▼ -146.29%
• Current HPI: 402.5053
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

Property features AI

Finance

• Financial info: Multi-family property with 2 total unitsSeparate gas and electric meters for each unitOwner pays water; water included in rentOperating expenses include water/sewerOne unit currently rented at $1,200

Exterior

• Parking: No driveway
• Utilities: Public water connectedSewer connected
• Home design: Two-story buildingResale propertyVinyl siding exterior
• Construction: Vinyl siding constructionExisting structure
• Exterior features: Rectangular residential lot with city street frontageLot dimensions approximately 29 x 128

Interior

• Kitchen: Gas water heater
• Bedrooms: One unit with 2 bedroomsOne unit with 3 bedrooms
• Flooring: Laminate and varied flooring
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement

Price history

+297.5% since first listed

15 events — show timeline

• 2026-05-30 Price Changed $159,000 WNYREIS
• 2026-05-30 Listed $199,000 WNYREIS
• 2025-05-05 Rental Removed $1,200 SHOWMOJO2
• 2025-05-01 Rental Removed $1,200 PROPERTYWARE
• 2025-05-01 Listed for Rent $1,200 SHOWMOJO2
• 2025-04-25 Listed for Rent $1,200 PROPERTYWARE
• 2025-04-25 Rental Removed $1,200 SHOWMOJO
• 2025-04-25 Listed for Rent $1,200 SHOWMOJO
• 2021-09-21 Sold (Public Records) $871,428 Public Records
• 2013-09-27 Sold (MLS) $35,000 WNYREIS
• 2013-09-20 Sold (Public Records) $35,000 Public Records
• 2013-05-21 Listed $39,900 WNYREIS
• 2011-07-15 Sold (Public Records) $40,000 Public Records
• 2010-02-26 Sold (MLS) $525 WNYREIS
• 2009-10-12 Listed $525 WNYREIS

Property tax history

+9.5%/yr

Latest (2025): $720 · +52.9% YoY. Source: county tax records.