745 S Ogden St · Buffalo, NY 14206

$59,900

3 bd · 1.0 ba · 1,946 sqft · MultiFamily · 8 Days on market

Built 1900 Fair condition

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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
• Appreciation +9.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.0/5.0

Multi-family units

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

Listing remarks

Tax records indicate a duplex; however, the property is currently being used as a single-family home with 3 bedrooms and 1 bathroom. Bring your tool belt and vision to restore this property to its full potential — there’s plenty of sweat equity to be found here. Please note: * The property is being sold as-is, and all contents remaining from the previous owner will stay with the home. * The exterior photo has been virtually enhanced to highlight its potential with cleaning and maintenance.

Key facts

• Built 1900
• Listed 7 days

Property features AI

Finance

• Other: Assessments and tax amounts were excluded
• Financial info: Property is a 2-unit building; Each unit has separate gas and electric meters; Operating expense details: see remarks; Owner pays: other (see remarks); Rent includes: see remarks

Exterior

• Parking: Concrete parking
• Security: No security features provided
• Utilities: Public water connected; Sewer connected
• Home design: 2-story building; Existing (previously built) property
• Construction: Construction details: see remarks
• Exterior features: Rectangular lot (30 x 100)

Interior

• Kitchen: No specific kitchen appliance list provided
• Bedrooms: One unit with 3 bedrooms
• Flooring: No flooring details provided
• Bathrooms: One full bathroom (per unit info)
• Heating & cooling: Has heating; Space heater(s)
• Interior features: Resale condition; Space heaters for heating (see remarks)
• Laundry & utility: Electric and gas water heaters

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $60k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $758 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Cap rate 21.5% 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: 169 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 35% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $5k of equity ($414 loan paydown + $5k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $59,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.48% ✓
• Cap rate: 21.49%
• Cash-on-cash: 54.27%
• DSCR: 3.41
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $161,518
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
33 Schiller St	0.28mi	4/2.0 (+1)	1,922 (-1%)	5mo	$60,000	$31	72
30 N Ogden St	0.28mi	4/4.0 (+1)	1,775 (-9%)	3mo	$157,000	$88	53
187 Goethe St	0.60mi	4/2.0 (+1)	1,890 (-3%)	12mo	$77,000	$41	48
293 Ludington St	0.38mi	3/2.0	1,688 (-13%)	10mo	$205,000	$121	48
34 Schiller St	0.28mi	4/2.0 (+1)	1,670 (-14%)	8mo	$95,000	$57	47
100 Shanley St	0.51mi	4/2.0 (+1)	2,112 (+8%)	7mo	$190,000	$90	47
238 Schiller St	0.67mi	4/2.0 (+1)	1,894 (-3%)	12mo	$145,000	$77	46
19 Ideal St	0.41mi	4/3.0 (+1)	1,824 (-6%)	17mo	$200,000	$110	43
127 Hedley St	0.73mi	4/2.0 (+1)	1,779 (-9%)	7mo	$180,000	$101	37
1068 E Lovejoy St	0.70mi	3/2.0	1,661 (-15%)	7mo	$135,000	$81	34
319 Barnard St	0.61mi	4/2.0 (+1)	1,658 (-15%)	6mo	$120,000	$72	33
35 Ludington St	0.70mi	4/2.0 (+1)	2,121 (+9%)	15mo	$175,000	$83	31

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

Projected returns pro-forma

8.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 65.0%
• Equity multiple: 5.37×
• Total profit: $73,230
• Equity at exit: $45,746

10-year hold

• IRR: 60.3%
• Equity multiple: 11.53×
• Total profit: $176,632
• Equity at exit: $91,033

Cash invested: $16,772 (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 14206

• Home prices YoY: 1.8%
• Active inventory: 169
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,484 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $758

Break-even live

Break-even rent $524

Max offer price $59,900

Occupancy floor 44%

Sensitivity live

Price	-10% $800	-5% $779	+0% $758	+5% $738	+10% $717
Rent	-10% $641	-5% $700	+0% $758	+5% $817	+10% $876
Rate	-1.0pp $789	-0.5pp $774	base $758	+0.5pp $743	+1.0pp $727

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1368 Harlem Rd Buffalo, NY	2.0	1.0	1776	$1,300	$0.73	24d	1	0.82mi
1777 Broadway Unit 2 Buffalo, NY	3.0	1.0	1300	$1,200	$0.92	44d	1	1.13mi
14 Rutland Ave Buffalo, NY	4.0	1.0	1430	$2,200	$1.54	11d	1	1.20mi

Listing history 1 events

1. 2026-05-19
   listed $59,900 Active

ⓘ 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 ≥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: $17,809
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,425
• − Management: −$1,425
• − Depreciation: −$1,743
• Taxable income: $8,664
• Est. tax owed @ 24.0%: −$2,079
• After-tax cash flow: $7,023/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 · 1 photo

Fair 40/100 Moderate rehab

This property requires significant repairs and updates to reach a fair condition. Investors can expect a moderate rehab level with high ROI potential in both resale and rental markets.

Repairs flagged

• Major exterior siding — Significant wear and potential water damage
• Major roof — No visible damage, but potential for wear
• Major flooring — No visible flooring, but potential for wear
• Major interior walls/paint — No visible interior, but potential for wear
• Major bathrooms — No visible bathrooms, but potential for wear
• Major kitchen — No visible kitchen, but potential for wear
• Major systems — No visible systems, but potential for wear

Value-add opportunities

• Both paint exterior — Enhances curb appeal and value
• Both repair roof — Prevents water damage and extends home life
• Both replace flooring — Improves living space and value
• Both paint interior — Enhances interior appearance and value
• Both update bathrooms — Improves functionality and value
• Both update kitchen — Improves functionality and value
• Both repair systems — Ensures home is safe and functional

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and potential water damage	Major	$15,000–50,000
roof · No visible damage, but potential for wear	Major	$15,000–50,000
flooring · No visible flooring, but potential for wear	Major	$15,000–50,000
interior walls/paint · No visible interior, but potential for wear	Major	$15,000–50,000
bathrooms · No visible bathrooms, but potential for wear	Major	$15,000–50,000
kitchen · No visible kitchen, but potential for wear	Major	$15,000–50,000
systems · No visible systems, but potential for wear	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and value ↑
• Both repair roof — Prevents water damage and extends home life ↑
• Both replace flooring — Improves living space and value ↑
• Both paint interior — Enhances interior appearance and value ↑
• Both update bathrooms — Improves functionality and value ↑
• Both update kitchen — Improves functionality and value ↑
• Both repair systems — Ensures home is safe and functional ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 21,631
• Household income: $50,450
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 841.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 13% Black 12% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10%
• Common ancestry: Romanian 25% Lithuanian 1% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Arabic 2%

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: ▲ 8.06%
• Current HPI: 457.3935
• 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

1 event — show timeline

• 2026-05-19 Listed $59,900 WNYREIS