121 Tacoma Ave · Buffalo, NY 14216

$349,900

6 bd · 2.0 ba · 2,736 sqft · MultiFamily public records · 17 Days on market

Built 1927 3,850 sqft lot Est $356k · at est.

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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 +21.0/30.0
• ARV discount +8.2/15.0
• DSCR +6.7/10.0
• 1% rule +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• 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

Not your average North Buffalo home. Modern floor plan with large open rooms and decorating flair. Upper unit with front and rear porches. Lower unit has two tier wrap around deck off of master bedroom. Updated kitchens , bathrooms and beautiful flooring completes this two unit money maker or home.

Key facts

• Roof replacement
• Fully rented
• Major updates

Tags

• MULTI-FAMILY PROPERTY
• FULLY RENTED
• MAJOR UPDATES
• ROOF REPLACEMENT
• FULL WALK-UP ATTIC
• ABUNDANT STORAGE

Property features AI

Finance

• Other: Two-unit building with separate gas and electric meters for each unit; Operating expense details: see remarks
• Financial info: Owner pays grounds care, snow removal, trash collection, and water; Rent may include gardener, snow removal, trash collection, and water

Exterior

• Parking: Paved parking with two or more spaces
• Utilities: Public water (connected); Sewer connected; Circuit breaker electric
• Home design: 2-story building; Existing/resale property
• Construction: Composite siding; Insulated attic/crawl hatchway(s); Block foundation
• Exterior features: Balcony; Deck; Fully fenced yard; Near public transit; Rectangular lot; Residential neighborhood; City street and main thoroughfare frontage

Interior

• Flooring: Carpet; Tile; Vinyl; Varied flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Sliding glass doors; Sliding doors
• Laundry & utility: Common area laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $496 ($6k/yr) — positive. Per door: $248/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $323k (7.6% below list).
• Recommended offer: $323k (7.6% 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 (+3.6%/yr); 88 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,234/mo this rent would consume 56% of the median local household income ($70k/yr) (locally 1831% 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 $10k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y 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 $164k; list at $350k implies a 114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $323,400 (7.6% below list)

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 1927 — 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: 0.92% ✗
• Cap rate: 7.99%
• Cash-on-cash: 6.08%
• DSCR: 1.27
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $355,680
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
131 Tacoma Ave	0.02mi	6/2.0	2,808 (+3%)	3mo	$330,000	$118	92
24 Lovering Ave	0.31mi	6/2.0	2,716 (-1%)	4mo	$340,000	$125	81
190 Commonwealth Ave	0.32mi	6/2.0	2,672 (-2%)	4mo	$310,000	$116	78
1164 Hertel Ave	0.28mi	5/3.0 (-1)	2,702 (-1%)	2mo	$420,000	$155	74
12 Lovering Ave	0.32mi	6/2.0	2,876 (+5%)	5mo	$294,000	$102	72
310 Colvin Ave	0.47mi	6/2.0	2,829 (+3%)	0mo	$367,000	$130	72
415 Colvin Ave	0.49mi	6/2.0	2,738 (+0%)	8mo	$360,000	$131	71
246 Crestwood Ave	0.38mi	6/3.0	2,665 (-3%)	7mo	$430,000	$161	68
84 W Hazeltine Ave	0.59mi	6/2.0	2,736 (0%)	6mo	$245,522	$90	68
292 Hartwell Rd	0.19mi	6/2.0	2,446 (-11%)	7mo	$355,000	$145	68
162 N Park Ave	0.63mi	6/2.0	2,876 (+5%)	7mo	$407,500	$142	56
64 Delham Ave	0.68mi	6/2.0	3,068 (+12%)	1mo	$375,000	$122	47

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 · 3.65% rent growth · sell at horizon

5-year hold

• IRR: -6.3%
• Equity multiple: 0.76×
• Total profit: $-23,134
• Equity at exit: $52,171

10-year hold

• IRR: 3.9%
• Equity multiple: 1.29×
• Total profit: $28,707
• Equity at exit: $30,253

Cash invested: $97,972 (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 14216

• Rents YoY: 3.6%
• Active inventory: 88
• Price-to-rent: 18.0×

Monthly cashflow live

• Estimated rent: $3,234 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$78 /mo · $935/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$679
• Net cashflow: $496

Break-even live

Break-even rent $2,606

Max offer price $349,900

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,234
Total (2 units)			$3,234

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $349,900 Active 17 DOM
2. 2026-06-17
   days on market $349,900 Active 16 DOM
3. 2026-06-16
   days on market $349,900 Active 15 DOM
4. 2026-06-15
   days on market $349,900 Active 14 DOM
5. 2026-06-13
   days on market $349,900 Active 12 DOM
6. 2026-06-13
   days on market $349,900 Active 11 DOM
7. 2026-06-10
   days on market $349,900 Active 9 DOM
8. 2026-06-09
   days on market $349,900 Active 8 DOM
9. 2026-06-08
   days on market $349,900 Active 7 DOM
10. 2026-06-07
    days on market $349,900 Active 6 DOM
11. 2026-06-03
    days on market $349,900 Active 2 DOM
12. 2026-06-02
    remarks 699-char remark
13. 2026-06-02
    listed $349,900 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: $935 · $78/mo
• Projected year-2 tax: $3,424 · $285/mo
• Expected delta: +$2,489/yr (+$207/mo · 266.4%)

ⓘ 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 ≥92°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: $38,808
• − Mortgage interest: −$19,600
• − Property taxes: −$935
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,105
• − Management: −$3,105
• − Depreciation: −$10,179
• Taxable income: $136
• Est. tax owed @ 24.0%: −$33
• After-tax cash flow: $5,923/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): 22,849
• Household income: $69,629
• Rent vs Own: 54.4% rent · 45.6% own
• Severe rent burden: 1831.0

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 (72%)
• Race & ethnicity: White 72% Black 16% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 10% Iranian 2% Lithuanian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 90% English-only · Spanish 5% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -264.53%
• Current HPI: 421.1138
• Rent YoY: ▲ 3.65%
• 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

+483.2% since first listed

7 events — show timeline

• 2026-06-01 Listed $349,900 WNYREIS
• 2012-08-31 Sold (MLS) $163,770 WNYREIS
• 2012-08-28 Sold (Public Records) $163,770 Public Records
• 2012-06-30 Listed $164,000 WNYREIS
• 2007-08-09 Sold (Public Records) $128,750 Public Records
• 2000-04-14 Sold (Public Records) $60,000 Public Records
• 1997-05-20 Sold (Public Records) $60,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $935 · -13.6% YoY. Source: county tax records.