601 Minnesota Ave · Buffalo, NY 14215

$124,900

3 bd · 1.0 ba · 1,215 sqft · SingleFamily public records · 167 Days on market

Built 1924 4,160 sqft lot $103/sqft · 28% below area Est $174k · 28% 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 +28.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.6/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 601 Minnesota Ave, a well-maintained single-family home located in Buffalo’s desirable University District. This 3-bedroom, 1 full-bath property features a mix of vinyl flooring and hardwood floors throughout, offering both durability and classic charm. The home boasts solid mechanical systems and a full basement, providing ample storage and additional potential. A one-car garage adds convenience and off-street parking. Perfect opportunity for owner occupancy or an investor, with strong rental demand in the area. Conveniently located near universities, public transportation, shopping, and local amenities. A great value in a prime location! Seller will provide the existing survey with an affidavit of no change and a 40-year search on the note.

Key facts

• Vinyl flooring
• One-car garage
• Full basement

Tags

• VINYL FLOORING
• HARDWOOD FLOORS
• SOLID MECHANICAL SYSTEMS
• FULL BASEMENT
• ONE-CAR GARAGE
• OFF-STREET PARKING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $411 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 8.0% in Buffalo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 flat; 237 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 39% of the median local income ($45k/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 $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 167 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $125k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 167 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.16% ✓
• Cap rate: 10.25%
• Cash-on-cash: 14.12%
• DSCR: 1.63
• GRM: 7.2

CMA / ARV

• ARV (median comp): $174,106
• List price: $124,900
• Delta: -28.26%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
601 Lasalle Ave	0.14mi	4/1.0 (+1)	1,188 (-2%)	1mo	$165,000	$139	84
622 Lasalle Ave	0.10mi	4/1.0 (+1)	1,258 (+4%)	3mo	$115,000	$91	82
496 Berkshire Ave	0.33mi	3/1.0	1,266 (+4%)	1mo	$125,000	$99	77
492 Hewitt Ave	0.19mi	3/1.0	1,065 (-12%)	2mo	$241,000	$226	69
461 Stockbridge Ave	0.34mi	3/1.0	1,336 (+10%)	4mo	$96,500	$72	64
340 Shirley Ave	0.26mi	3/1.0	1,056 (-13%)	3mo	$140,000	$133	64
153 Stockbridge Ave	0.73mi	3/1.0	1,248 (+3%)	3mo	$150,000	$120	59
358 Hastings Ave	0.71mi	3/1.0	1,152 (-5%)	1mo	$128,500	$112	57
99 Fennimore Ave	0.53mi	3/1.0	1,100 (-10%)	3mo	$115,000	$105	57
29 Allendale Rd	0.56mi	3/1.5	1,364 (+12%)	0mo	$155,000	$114	51
223 Phyllis Ave	0.70mi	3/1.0	1,082 (-11%)	0mo	$68,500	$63	49
322 Phyllis Ave	0.72mi	2/1.0 (-1)	1,098 (-10%)	0mo	$175,000	$159	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 · 0.67% rent growth · sell at horizon

5-year hold

• IRR: 2.0%
• Equity multiple: 1.07×
• Total profit: $2,595
• Equity at exit: $18,623

10-year hold

• IRR: 9.4%
• Equity multiple: 1.65×
• Total profit: $22,804
• Equity at exit: $10,799

Cash invested: $34,972 (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 14215

• Home prices YoY: -30.0%
• Rents YoY: 0.7%
• Active inventory: 237
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,443 high
• Mortgage (P&I): −$655
• Tax from tax record: −$21 /mo · $258/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $411

Break-even live

Break-even rent $922

Max offer price $124,900

Occupancy floor 66%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
507 Lisbon Ave Unit 2 Buffalo, NY	2.0	1.0	850	$1,050	$1.24	43d	1	0.13mi
189 Westminster Ave Buffalo, NY	4.0	1.5	1065	$1,595	$1.50	10d	1	0.32mi
220 Dartmouth Ave Buffalo, NY	2.0	1.0	1000	$1,100	$1.10	23d	1	0.48mi
265 Lisbon Ave Unit 2 Buffalo, NY	3.0	1.0	1200	$1,400	$1.17	43d	1	0.60mi
97 Davidson Ave Buffalo, NY	3.0	1.0	925	$1,495	$1.62	1d	1	0.63mi
263 Minnesota Ave Unit Upper Buffalo, NY	3.0	1.0	1242	$1,500	$1.21	14d	1	0.65mi
222 Lisbon Ave Unit Upper Buffalo, NY	3.0	1.0	1400	$1,400	$1.00	43d	1	0.69mi
222 Lisbon Ave Buffalo, NY	4.0	1.0	1300	$1,400	$1.08	23d	1	0.69mi
140 Parkridge Ave Buffalo, NY	3.0	1.0	990	$1,500	$1.52	43d	1	0.90mi
92 Lasalle Ave Unit 1 Buffalo, NY	2.0	1.0	1000	$1,150	$1.15	43d	1	1.01mi
40 Lisbon Ave Unit Upper Buffalo, NY	2.0	1.0	1057	$1,500	$1.42	11d	1	1.03mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,291	$2.24	1d	10	1.06mi
44 Aurora Dr Buffalo, NY	3.0	1.0	1272	$3,300	$2.59	1d	1	1.09mi
60 Englewood Ave Buffalo, NY	4.0	1.0	1400	$1,650	$1.18	1d	1	1.10mi
26 Custer St Buffalo, NY	2.0	1.0	1000	$1,300	$1.30	43d	1	1.11mi
2939 Main St Buffalo, NY	1.0–2.0	1.0–2.0	562	$1,999	$3.55	3d	1	1.18mi
190 Manhattan Ave Buffalo, NY	2.0	1.0	724	$1,200	$1.66	43d	1	1.24mi
4035-4055 Harlem Rd Unit 4081B Buffalo, NY	2.0	1.0	815	$1,649	$2.02	1d	1	1.30mi
17 Proctor Ave Unit 1 Buffalo, NY	2.0	1.0	900	$1,100	$1.22	43d	1	1.38mi
2 Angle St Buffalo, NY	2.0	1.0	725	$1,212	$1.67	14d	2	1.38mi
74 Dorris Ave Buffalo, NY	3.0	1.0	1200	$1,450	$1.21	43d	1	1.42mi
160 Courtland Ave Buffalo, NY	2.0	1.0	810	$1,025	$1.27	14d	1	1.49mi

Listing history 19 events

1. 2026-06-18
   days on market $124,900 Active 167 DOM
2. 2026-06-17
   days on market $124,900 Active 166 DOM
3. 2026-06-16
   days on market $124,900 Active 165 DOM
4. 2026-06-15
   days on market $124,900 Active 164 DOM
5. 2026-06-13
   days on market $124,900 Active 162 DOM
6. 2026-06-13
   days on market $124,900 Active 161 DOM
7. 2026-06-10
   days on market $124,900 Active 159 DOM
8. 2026-06-09
   days on market $124,900 Active 158 DOM
9. 2026-06-08
   days on market $124,900 Active 157 DOM
10. 2026-06-07
    pricedays on market $124,900 Active 156 DOM
11. 2026-06-03
    days on market $138,900 Active 152 DOM
12. 2026-06-02
    days on market $138,900 Active 151 DOM
13. 2026-06-01
    days on market $138,900 Active 150 DOM
14. 2026-05-31
    days on market $138,900 Active 149 DOM
15. 2026-04-16
    price $138,900 769-char remark

    Show marketing remark (769 chars)

    Welcome to 601 Minnesota Ave, a well-maintained single-family home located in Buffalo’s desirable University District. This 3-bedroom, 1 full-bath property features a mix of vinyl flooring and hardwood floors throughout, offering both durability and classic charm. The home boasts solid mechanical systems and a full basement, providing ample storage and additional potential. A one-car garage adds convenience and off-street parking. Perfect opportunity for owner occupancy or an investor, with strong rental demand in the area. Conveniently located near universities, public transportation, shopping, and local amenities. A great value in a prime location! Seller will provide the existing survey with an affidavit of no change and a 40-year search on the note.

16. 2026-04-16
    price $139,400 769-char remark

    Show marketing remark (769 chars)

    Welcome to 601 Minnesota Ave, a well-maintained single-family home located in Buffalo’s desirable University District. This 3-bedroom, 1 full-bath property features a mix of vinyl flooring and hardwood floors throughout, offering both durability and classic charm. The home boasts solid mechanical systems and a full basement, providing ample storage and additional potential. A one-car garage adds convenience and off-street parking. Perfect opportunity for owner occupancy or an investor, with strong rental demand in the area. Conveniently located near universities, public transportation, shopping, and local amenities. A great value in a prime location! Seller will provide the existing survey with an affidavit of no change and a 40-year search on the note.

17. 2026-01-02
    listed $139,900 Active 769-char remark

    Show marketing remark (769 chars)

    Welcome to 601 Minnesota Ave, a well-maintained single-family home located in Buffalo’s desirable University District. This 3-bedroom, 1 full-bath property features a mix of vinyl flooring and hardwood floors throughout, offering both durability and classic charm. The home boasts solid mechanical systems and a full basement, providing ample storage and additional potential. A one-car garage adds convenience and off-street parking. Perfect opportunity for owner occupancy or an investor, with strong rental demand in the area. Conveniently located near universities, public transportation, shopping, and local amenities. A great value in a prime location! Seller will provide the existing survey with an affidavit of no change and a 40-year search on the note.

18. 2011-06-01
    soldstatus $25,000 332-char remark

    Show marketing remark (332 chars)

    Save steps with two first floor bedrooms and full bath in this modified bungalow. Newer furnace ('05), maintenance free exterior, hardwood floors under wall-to-wall carpet, well-maintained yard, newly roofed garage with automatic opener, all exterior trim repainted ('10), new energy saver side door. Well-maintained inside and out!

19. 2011-03-21
    listed $35,400 332-char remark

    Show marketing remark (332 chars)

    Save steps with two first floor bedrooms and full bath in this modified bungalow. Newer furnace ('05), maintenance free exterior, hardwood floors under wall-to-wall carpet, well-maintained yard, newly roofed garage with automatic opener, all exterior trim repainted ('10), new energy saver side door. Well-maintained inside and out!

ⓘ 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: $258 · $21/mo
• Projected year-2 tax: $1,184 · $99/mo
• Expected delta: +$926/yr (+$77/mo · 359.4%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 65% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 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: $17,315
• − Mortgage interest: −$6,996
• − Property taxes: −$258
• − Insurance: −$624
• − Repairs & maintenance: −$1,385
• − Management: −$1,385
• − Depreciation: −$3,633
• Taxable income: $3,032
• Est. tax owed @ 24.0%: −$728
• After-tax cash flow: $4,209/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): 42,524
• Household income: $44,955
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 2873.0

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 Black (67%)
• Race & ethnicity: Black 67% White 15% Asian 7% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada, China
• Languages at home: 88% English-only · Other Indo-European 4% 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: ▼ -126.29%
• Current HPI: 295.2966
• Rent YoY: ▲ 0.67%
• 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

+292.4% since first listed

5 events — show timeline

• 2026-04-16 Price Changed $138,900 WNYREIS
• 2026-04-16 Price Changed $139,400 WNYREIS
• 2026-01-02 Listed $139,900 WNYREIS
• 2011-06-01 Sold (MLS) $25,000 WNYREIS
• 2011-03-21 Listed $35,400 WNYREIS

Property tax history

+1.2%/yr

Latest (2025): $258 · +0.0% YoY. Source: county tax records.