260 Humboldt Pkwy · Buffalo, NY 14214

$225,000

6 bd · 2.0 ba · 2,544 sqft · MultiFamily public records · 36 Days on market

Built 1919 6,230 sqft lot $88/sqft · 48% below area Est $430k · 48% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• 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

Stunner in the making! Simply spectacular opportunity for this Humboltd Pkwy. 3/3 double. Beautifully located close to Sister's Hospital, Canisus and Medaille Colleges- this is a rental opportunity you don't want to miss! Priced right to sell and accommodate necessary renovations and updates- if you have the vision and the will- this future money maker will pay off with BIG dividends! Most windows are boarded up to protect from being damaged - please bring flashlight when showing!

Key facts

• Attic
• Newer roof
• Full basement

Tags

• FULL BASEMENT
• ATTIC
• IN UNIT LAUNDRY
• NEWER ROOF
• UTILITIES SEPARATED

Property features AI

Finance

• Other: Lot is irregularly shaped (approx. 0.143 acres; dimensions 35 x 178); Near public transit
• Financial info: Property has 2 total units with separate gas and electric meters for each unit; Owner pays water; water is included in rent; Operating expenses include water/sewer; Unit 1 actual rent $1,650 (month-to-month); Unit 2 actual rent $1,600 (leased)

Exterior

• Parking: No driveway
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: Two-story multifamily property; Resale condition
• Construction: Cedar and vinyl siding; Asphalt roof; Block foundation; PEX plumbing
• Exterior features: Balcony; Covered porch

Interior

• Kitchen: Gas water heater
• Bedrooms: Two 3-bedroom units (each unit has 3 bedrooms)
• Flooring: Hardwood; Tile; Varies by area
• Bathrooms: Each unit has 1 full bathroom (2 full bathrooms total)
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood and tile flooring throughout; flooring varies by area; Full basement
• Laundry & utility: Washer hookup in-unit for each unit

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $710/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $225k).
• Recommended offer: $218k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.9% 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 (+5.8%/yr); 90 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,765/mo this rent would consume 78% of the median local household income ($58k/yr) (locally 1820% 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 $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $63k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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 $3k; list at $225k implies a 7400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $218,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% 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. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.67% ✓
• Cap rate: 13.86%
• Cash-on-cash: 27.04%
• DSCR: 2.20
• GRM: 5.0

CMA / ARV

• ARV (median comp): $430,233
• List price: $225,000
• Delta: -47.70%
• 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
84 Monticello Pl	0.16mi	6/2.0	2,591 (+2%)	0mo	$145,000	$56	89
56 Eastwood Pl	0.13mi	6/2.0	2,487 (-2%)	4mo	$250,000	$101	87
73 Monticello Pl	0.14mi	6/2.0	2,424 (-5%)	3mo	$160,000	$66	83
26 Pleasant Pl	0.42mi	6/2.0	2,346 (-8%)	3mo	$162,000	$69	65
2002 Fillmore Ave	0.46mi	6/2.0	2,390 (-6%)	4mo	$206,500	$86	65
55 Beverly Rd	0.44mi	6/2.0	2,402 (-6%)	9mo	$285,000	$119	62
2006 Fillmore Ave	0.46mi	5/2.0 (-1)	2,390 (-6%)	3mo	$84,800	$35	61
48 Oakgrove Ave	0.26mi	6/2.0	2,200 (-14%)	7mo	$318,000	$145	59
362 Northland Ave	0.53mi	6/2.0	2,723 (+7%)	8mo	$216,000	$79	57
304 Northland Ave	0.52mi	6/2.0	2,288 (-10%)	4mo	$121,000	$53	56
2032 Fillmore Ave	0.47mi	6/2.0	2,226 (-12%)	10mo	$150,000	$67	49
236 Brunswick Blvd	0.70mi	5/2.0 (-1)	2,779 (+9%)	4mo	$287,500	$103	44

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 · 5.81% rent growth · sell at horizon

5-year hold

• IRR: 24.1%
• Equity multiple: 2.03×
• Total profit: $64,945
• Equity at exit: $33,548

10-year hold

• IRR: 33.7%
• Equity multiple: 4.50×
• Total profit: $220,767
• Equity at exit: $19,454

Cash invested: $63,000 (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 14214

• Rents YoY: 5.8%
• Active inventory: 90
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $3,765 high
• Mortgage (P&I): −$1,180
• Tax est. 1.5%: −$281 /mo · $3,375/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$791
• Net cashflow: $1,419

Break-even live

Break-even rent $1,968

Max offer price $225,000

Occupancy floor 57%

Sensitivity live

Price	-10% $1,575	-5% $1,497	+0% $1,419	+5% $1,342	+10% $1,264
Rent	-10% $1,122	-5% $1,271	+0% $1,419	+5% $1,568	+10% $1,717
Rate	-1.0pp $1,533	-0.5pp $1,477	base $1,419	+0.5pp $1,361	+1.0pp $1,302

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,764
Total (2 units)			$3,765

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $225,000 Active 36 DOM
2. 2026-06-17
   days on market $225,000 Active 35 DOM
3. 2026-06-16
   days on market $225,000 Active 34 DOM
4. 2026-06-15
   days on market $225,000 Active 33 DOM
5. 2026-06-13
   days on market $225,000 Active 31 DOM
6. 2026-06-13
   days on market $225,000 Active 30 DOM
7. 2026-06-10
   days on market $225,000 Active 28 DOM
8. 2026-06-09
   days on market $225,000 Active 27 DOM
9. 2026-06-08
   days on market $225,000 Active 26 DOM
10. 2026-06-07
    days on market $225,000 Active 25 DOM
11. 2026-06-03
    days on market $225,000 Active 21 DOM
12. 2026-06-02
    days on market $225,000 Active 20 DOM
13. 2026-06-01
    days on market $225,000 Active 19 DOM
14. 2026-05-31
    days on market $225,000 Active 18 DOM
15. 2026-05-13
    listed $225,000 Active 544-char remark
16. 2023-09-12
    historical $1,400
17. 2023-08-31
    listed $1,400
18. 2009-11-01
    soldstatus $3,000 488-char remark

    Show marketing remark (488 chars)

    Stunner in the making! Simply spectacular opportunity for this Humboltd Pkwy. 3/3 double. Beautifully located close to Sister's Hospital, Canisus and Medaille Colleges- this is a rental opportunity you don't want to miss! Priced right to sell and accommodate necessary renovations and updates- if you have the vision and the will- this future money maker will pay off with BIG dividends! Most windows are boarded up to protect from being damaged - please bring flashlight when showing!

19. 2009-04-29
    listed $14,000 488-char remark

    Show marketing remark (488 chars)

    Stunner in the making! Simply spectacular opportunity for this Humboltd Pkwy. 3/3 double. Beautifully located close to Sister's Hospital, Canisus and Medaille Colleges- this is a rental opportunity you don't want to miss! Priced right to sell and accommodate necessary renovations and updates- if you have the vision and the will- this future money maker will pay off with BIG dividends! Most windows are boarded up to protect from being damaged - please bring flashlight when showing!

ⓘ 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 ≥93°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: $45,180
• − Mortgage interest: −$12,603
• − Property taxes: −$3,375
• − Insurance: −$1,125
• − Repairs & maintenance: −$3,614
• − Management: −$3,614
• − Depreciation: −$6,545
• Taxable income: $14,302
• Est. tax owed @ 24.0%: −$3,433
• After-tax cash flow: $13,601/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): 21,314
• Household income: $58,228
• Rent vs Own: 57.7% rent · 42.3% own
• Severe rent burden: 1820.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 47% Black 31% Asian 11% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 5% Lithuanian 2% Scotch-Irish 1%
• Foreign-born: 14% · Canada, China
• Languages at home: 81% English-only · Other Indo-European 7% Spanish 4% Other Asian/Pacific 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: ▼ -282.52%
• Current HPI: 373.377
• Rent YoY: ▲ 5.81%
• 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

+1507.1% since first listed

5 events — show timeline

• 2026-05-13 Listed $225,000 WNYREIS
• 2023-09-12 Rental Removed $1,400 APPFOLIO
• 2023-08-31 Listed for Rent $1,400 APPFOLIO
• 2009-11-01 Sold (MLS) $3,000 WNYREIS
• 2009-04-29 Listed $14,000 WNYREIS

Property tax history

+6.9%/yr

Latest (2025): $357 · +92.8% YoY. Source: county tax records.