32 Gallatin Ave · Buffalo, NY 14207

$149,900

3 bd · 1.5 ba · 1,563 sqft · SingleFamily public records · 9 Days on market

Built 1910 3,000 sqft lot Est $180k · 17% under

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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 +20.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• Rent growth +4.5/5.0
• 1% rule +4.3/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 32 Gallatin Ave- spacious and updated 3 bedroom, 1.5 bath Riverside home. With the open floor plan, oversized living room, sizable kitchen and a half bath on the main floor this home stands out from the rest. Updates include a brand new roof, windows, new hot water tank, flooring and fresh paint throughout. All bedrooms are great size and have ample closet space and the full bathroom upstairs has a double vanity. Fully fenced backyard and an above ground pool are perfect to enjoy during those hot summer nights. Make an appointment today!

Key facts

• Spacious backyard
• Newer hot water tank
• Deck

Tags

• COMPLETE TEAR-OFF ROOF
• UPDATED ELECTRICAL SERVICE
• NEWER HOT WATER TANK
• FULL ENCLOSED FRONT PORCH
• SPACIOUS BACKYARD
• DECK

Property features AI

Exterior

• Parking: No garage; No driveway
• Utilities: Public water connected; Sewer connected; Electric service (standard)
• Home design: Two-story home; Existing construction
• Construction: Frame construction with wood siding; Stone foundation
• Exterior features: Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: Total rooms: 6
• Flooring: Carpet; Laminate; Tile; Varied flooring
• Bathrooms: 1 full bathroom; 1 half bathroom; One main-level bathroom
• Heating & cooling: Gas forced-air heating; Window cooling units
• Interior features: Living/dining room; Natural woodwork; Other features (see remarks)
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $205 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (7.2% below list).
• Recommended offer: $139k (7.2% below list) — sets the bar for 1% rule.

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 (+8.2%/yr); 197 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 42% of the median local income ($40k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y 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 $75k; list at $150k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,137 (7.2% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.93% ✗
• Cap rate: 7.93%
• Cash-on-cash: 5.85%
• DSCR: 1.26
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $179,745
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
44 Gallatin Ave	0.02mi	4/2.0 (+1)	1,532 (-2%)	5mo	$149,000	$97	85
38 Heward Ave	0.18mi	3/1.5	1,474 (-6%)	1mo	$256,000	$174	81
61 Mayer Ave	0.06mi	4/1.0 (+1)	1,408 (-10%)	7mo	$210,000	$149	68
907 Tonawanda St	0.29mi	4/1.0 (+1)	1,639 (+5%)	8mo	$110,000	$67	64
5 Copeland Pl	0.07mi	4/1.0 (+1)	1,780 (+14%)	7mo	$70,000	$39	61
136 Crowley Ave	0.30mi	4/1.0 (+1)	1,394 (-11%)	2mo	$100,000	$72	60
476 East St	0.49mi	4/2.0 (+1)	1,618 (+4%)	6mo	$100,000	$62	59
191 Crowley Ave	0.26mi	4/1.0 (+1)	1,408 (-10%)	8mo	$170,000	$121	58
186 Crowley Ave	0.28mi	4/2.0 (+1)	1,333 (-15%)	2mo	$215,000	$161	53
111 Roesch Ave	0.59mi	3/1.0	1,650 (+6%)	9mo	$190,000	$115	53
324 Esser Ave	0.63mi	3/1.0	1,419 (-9%)	8mo	$190,500	$134	47
350 East St	0.67mi	4/1.0 (+1)	1,752 (+12%)	3mo	$110,000	$63	39

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -2.4%
• Equity multiple: 0.91×
• Total profit: $-3,967
• Equity at exit: $22,351

10-year hold

• IRR: 11.7%
• Equity multiple: 2.11×
• Total profit: $46,530
• Equity at exit: $12,961

Cash invested: $41,972 (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 14207

• Home prices YoY: -18.9%
• Rents YoY: 8.2%
• Active inventory: 197
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,391 high
• Mortgage (P&I): −$786
• Tax from tax record: −$46 /mo · $551/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $205

Break-even live

Break-even rent $1,132

Max offer price $149,900

Occupancy floor 80%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
118 Rano St Buffalo, NY	3.0	1.0	1050	$1,200	$1.14	21d	1	0.20mi
158 Chadduck Ave Buffalo, NY	4.0	1.0	1200	$1,250	$1.04	23d	1	0.44mi
61 Baxter St Buffalo, NY	3.0	1.0	2014	$1,400	$0.70	1d	1	0.62mi
78 Germain St Buffalo, NY	3.0	1.0	2030	$1,300	$0.64	14d	1	0.98mi
52 Greeley St Unit Upper Buffalo, NY	2.0	1.0	1804	$1,000	$0.55	23d	1	0.98mi
62 Seabrook St Buffalo, NY	4.0	1.0	1300	$2,000	$1.54	1d	1	0.98mi
62 Germain St Buffalo, NY	3.0	1.0	1320	$1,250	$0.95	23d	1	1.01mi
293 Grote St Buffalo, NY	1.0–2.0	1.0–2.0	817	$2,345	$2.87	1d	1	1.23mi
139 Fordham Dr Buffalo, NY	3.0	1.0	1453	$1,700	$1.17	23d	1	1.45mi

Listing history 8 events

1. 2026-06-18
   days on market $149,900 Active 9 DOM
2. 2026-06-17
   days on market $149,900 Active 8 DOM
3. 2026-06-16
   days on market $149,900 Active 7 DOM
4. 2026-06-15
   days on market $149,900 Active 6 DOM
5. 2026-06-13
   days on market $149,900 Active 4 DOM
6. 2026-06-13
   days on market $149,900 Active 3 DOM
7. 2026-06-10
   remarks 699-char remark
8. 2026-06-10
   listed $149,900 Active 1 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: $551 · $46/mo
• Projected year-2 tax: $1,542 · $129/mo
• Expected delta: +$991/yr (+$83/mo · 179.7%)

ⓘ 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 ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,696
• − Mortgage interest: −$8,397
• − Property taxes: −$551
• − Insurance: −$750
• − Repairs & maintenance: −$1,336
• − Management: −$1,336
• − Depreciation: −$4,361
• Taxable loss: −$33
• Est. tax savings @ 24.0%: +$8
• After-tax cash flow: $2,464/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): 26,327
• Household income: $39,753
• Rent vs Own: 65.0% rent · 35.0% own
• Severe rent burden: 2177.0

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: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: White 40% Hispanic / Latino 23% Black 16% Asian 15% Two or more races 14%
• Hispanic origin (detail): Puerto Rican 18% Dominican 2%
• Common ancestry: Romanian 8% Portuguese 1% Arab 1%
• Foreign-born: 19% · Philippines, Canada, India
• Languages at home: 65% English-only · Spanish 14% Other Asian/Pacific 10% Other Indo-European 5%

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: ▼ -54.42%
• Current HPI: 233.0902
• Rent YoY: ▲ 8.19%
• 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

+145.1% since first listed

7 events — show timeline

• 2026-06-09 Listed $149,900 WNYREIS
• 2017-08-31 Sold (Public Records) $75,000 Public Records
• 2017-08-31 Sold (MLS) $75,000 WNYREIS
• 2017-06-15 Contingent — WNYREIS
• 2017-06-14 Listed $75,000 WNYREIS
• 2005-12-27 Sold (Public Records) $65,000 Public Records
• 1993-06-04 Sold (Public Records) $61,154 Public Records

Property tax history

+7.3%/yr

Latest (2025): $551 · +38.6% YoY. Source: county tax records.