371 Cumberland Ave · Buffalo, NY 14220

$285,000

6 bd · 3.0 ba · 2,604 sqft · MultiFamily public records · 13 Days on market

Built 1930 4,200 sqft lot Est $232k · 23% over

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Why this score? — see what drove the C+ 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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Rent growth +4.4/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Priced below market for quick sale. Executor says sell 'as-is'. All cash offers seriously considered. Conventional also possible. Buyer to obtain C of O (Most recent C of O available is from 1970). Nice large owner's apt ready for cosmetic update. Has some nice natural woodwork/decor fp/lg formal dr. Lower rear has dr/lower front-sunroom and decor fp. Lower apts including heat, elect, water. Upper on sep utilities. Updated elec panels/newer furnaces/sep laundry hookups. Upper & bsmt. easy to see anytime.

Key facts

• 4,200 sq ft lot
• 2 garage spots
• Built 1930

Property features AI

Finance

• Other: Three separate gas meters; Three separate electric meters; Three total units in the building
• Financial info: Owner pays trash collection and water; Operating expenses may include insurance, structure maintenance, general maintenance, professional management, rent, and water/sewer

Exterior

• Parking: 2-car garage; Paved parking
• Utilities: Cable available; Electricity connected (circuit breakers); High-speed internet available; Public water connected; Sewer connected
• Home design: Two-story building; Existing construction
• Construction: Brick and vinyl siding exterior; Asphalt architectural shingle roof; Block and stone foundation
• Exterior features: Covered porch; Porch; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas water heater
• Bedrooms: 3-unit property (individual bedroom counts per unit not provided)
• Flooring: Carpet; Hardwood; Laminate; Luxury vinyl; Varied flooring
• Bathrooms: Three full bathrooms (total)
• Heating & cooling: Gas forced-air heating
• Interior features: Ceiling fans; Natural woodwork; Thermal windows
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $285k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $527/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $285k).
• Cap rate 13.0% 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 (+7.6%/yr); 136 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $4,121/mo this rent would consume 70% of the median local household income ($71k/yr) (locally 602% 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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.6% rent growth), your $80k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 21y 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 $220k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $285,000

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 1930 — 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: 1.45% ✓
• Cap rate: 12.95%
• Cash-on-cash: 23.78%
• DSCR: 2.06
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $231,756
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
97 Red Jacket Pkwy	0.38mi	6/2.0	2,588 (-1%)	1mo	$220,000	$85	76
276 Choate Ave	0.39mi	6/2.0	2,608 (+0%)	4mo	$195,000	$75	74
16 Lorraine Ave	0.36mi	6/2.0	2,688 (+3%)	6mo	$240,000	$89	69
389 Cumberland Ave	0.04mi	5/2.0 (-1)	2,328 (-11%)	5mo	$280,000	$120	67
85 Geary St	0.41mi	6/2.0	2,780 (+7%)	2mo	$267,500	$96	64
26 Kamper Ave	0.40mi	6/2.0	2,394 (-8%)	3mo	$179,000	$75	62
32 Magnolia Ave	0.42mi	6/2.0	2,376 (-9%)	5mo	$225,000	$95	58
18 Sage Ave	0.73mi	6/2.0	2,578 (-1%)	4mo	$164,500	$64	56
132 Edson St	0.72mi	7/3.0 (+1)	2,480 (-5%)	2mo	$210,000	$85	52
42 Mineral Spring Rd	0.56mi	6/2.0	2,278 (-12%)	0mo	$300,000	$132	49
54 Remoleno St	0.68mi	5/2.0 (-1)	2,796 (+7%)	2mo	$300,000	$107	45
50 Duerstein St	0.56mi	6/2.0	2,956 (+14%)	3mo	$160,000	$54	45

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 · 7.62% rent growth · sell at horizon

5-year hold

• IRR: 21.6%
• Equity multiple: 1.93×
• Total profit: $74,470
• Equity at exit: $42,494

10-year hold

• IRR: 32.4%
• Equity multiple: 4.57×
• Total profit: $284,578
• Equity at exit: $24,642

Cash invested: $79,800 (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 14220

• Home prices YoY: -26.7%
• Rents YoY: 7.6%
• Active inventory: 136
• Price-to-rent: 17.3×

Monthly cashflow live

• Estimated rent: $4,121 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$61 /mo · $730/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$865
• Net cashflow: $1,581

Break-even live

Break-even rent $2,119

Max offer price $285,000

Occupancy floor 57%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$4,122
Total (3 units)			$4,121

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $285,000 Active 13 DOM
2. 2026-06-17
   days on market $285,000 Active 12 DOM
3. 2026-06-16
   days on market $285,000 Active 11 DOM
4. 2026-06-15
   days on market $285,000 Active 10 DOM
5. 2026-06-13
   days on market $285,000 Active 8 DOM
6. 2026-06-13
   days on market $285,000 Active 7 DOM
7. 2026-06-10
   days on market $285,000 Active 5 DOM
8. 2026-06-09
   days on market $285,000 Active 4 DOM
9. 2026-06-08
   days on market $285,000 Active 3 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $285,000 Active 2 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: $730 · $61/mo
• Projected year-2 tax: $2,773 · $231/mo
• Expected delta: +$2,043/yr (+$170/mo · 280.0%)

ⓘ 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) · 74% 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: $49,452
• − Mortgage interest: −$15,964
• − Property taxes: −$730
• − Insurance: −$1,425
• − Repairs & maintenance: −$3,956
• − Management: −$3,956
• − Depreciation: −$8,291
• Taxable income: $15,130
• Est. tax owed @ 24.0%: −$3,631
• After-tax cash flow: $15,346/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): 24,428
• Household income: $70,963
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 602.0

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 (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%

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: ▲ 7.62%
• 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

+570.6% since first listed

5 events — show timeline

• 2026-06-06 Listed $285,000 WNYREIS
• 2024-02-28 Sold (Public Records) $220,000 Public Records
• 2005-07-14 Sold (Public Records) $37,000 Public Records
• 2005-06-24 Sold (MLS) $37,000 WNYREIS
• 2005-05-16 Listed $42,500 WNYREIS

Property tax history

+5.6%/yr

Latest (2025): $730 · +7.6% YoY. Source: county tax records.