126 Bushnell St · Buffalo, NY 14206

$90,000

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 49 Days on market

Built 1940 3,720 sqft lot $104/sqft · 9% below area Est $99k · 9% 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 +26.2/30.0
• ARV discount +11.6/15.0
• Appreciation +9.0/10.0
• DSCR +8.8/10.0
• 1% rule +7.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

VRP - Seller will consider offers between $90,000 and $110,000. Like New! New flooring throughout, new furnace (in crawlspace), new hot water tank (in first floor laundry room), new light fixtures, remodeled bath, 2-year-old roof, updated kitchen with new vent and gas hookup for stove, vinyl windows, some new doors and trim, freshly painted throughout. Loads of storage room - pull down staircase to attic, large shed, and spacious laundry rom. Located on a quiet, low traffic, dead end street. Off street concrete parking pad. Easy access to the 190. Conveniently located right between Filmore and Bailey for all stores and activities.

Key facts

• 2 year old roof
• New furnace
• New hot water tank

Tags

• NEW FLOORING
• NEW FURNACE
• NEW HOT WATER TANK
• NEW LIGHT FIXTURES
• REMODELED BATH
• 2 YEAR OLD ROOF

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.

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: 169 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($622 loan paydown + $7k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $37k; list at $90k implies a 143% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.20% ✓
• Cap rate: 9.34%
• Cash-on-cash: 10.89%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

• ARV (median comp): $98,911
• List price: $90,000
• Delta: -9.01%
• Verdict: FAIR
• Comps: 7 within 1.0 mi

Projected returns pro-forma

8.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.6%
• Equity multiple: 3.06×
• Total profit: $51,999
• Equity at exit: $68,733

10-year hold

• IRR: 25.6%
• Equity multiple: 6.56×
• Total profit: $140,089
• Equity at exit: $136,777

Cash invested: $25,200 (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 14206

• Home prices YoY: 1.8%
• Active inventory: 169
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,077 high
• Mortgage (P&I): −$472
• Tax est. 1.5%: −$112 /mo · $1,350/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $229

Break-even live

Break-even rent $787

Max offer price $90,000

Occupancy floor 74%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
47 Lester St Unit Main Floor Buffalo, NY	3.0	1.0	900	$1,000	$1.11	44d	1	0.51mi
118 Detroit St Unit 1 Buffalo, NY	2.0	1.0	620	$850	$1.37	44d	1	0.95mi
118 Detroit St Buffalo, NY	2.0	1.0	620	$850	$1.37	23d	1	0.95mi
674 Clinton St Unit 6 Buffalo, NY	1.0	1.0	800	$1,650	$2.06	14d	1	1.07mi
950 Broadway Unit 307 Buffalo, NY	1.0	1.0	675	$940	$1.39	3d	1	1.24mi
700 Hopkins St Buffalo, NY	3.0	1.0	1100	$1,225	$1.11	14d	1	1.41mi
696 Hopkins St Unit 2 Buffalo, NY	2.0	1.0	750	$950	$1.27	44d	1	1.42mi

Listing history 6 events

1. 2026-05-07
   price $90,000 643-char remark

   Show marketing remark (643 chars)

   VRP - Seller will consider offers between $90,000 and $110,000. Like New! New flooring throughout, new furnace (in crawlspace), new hot water tank (in first floor laundry room), new light fixtures, remodeled bath, 2-year-old roof, updated kitchen with new vent and gas hookup for stove, vinyl windows, some new doors and trim, freshly painted throughout. Loads of storage room - pull down staircase to attic, large shed, and spacious laundry rom. Located on a quiet, low traffic, dead end street. Off street concrete parking pad. Easy access to the 190. Conveniently located right between Filmore and Bailey for all stores and activities.

2. 2026-04-01
   listed $100,000 Active 643-char remark

   Show marketing remark (643 chars)

   VRP - Seller will consider offers between $90,000 and $110,000. Like New! New flooring throughout, new furnace (in crawlspace), new hot water tank (in first floor laundry room), new light fixtures, remodeled bath, 2-year-old roof, updated kitchen with new vent and gas hookup for stove, vinyl windows, some new doors and trim, freshly painted throughout. Loads of storage room - pull down staircase to attic, large shed, and spacious laundry rom. Located on a quiet, low traffic, dead end street. Off street concrete parking pad. Easy access to the 190. Conveniently located right between Filmore and Bailey for all stores and activities.

3. 2026-03-29
   historical
4. 2025-12-26
   price $89,900
5. 2025-12-11
   listed $109,900 Active
6. 1994-06-09
   soldstatus $37,000

ⓘ 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 ≥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: $12,923
• − Mortgage interest: −$5,041
• − Property taxes: −$1,350
• − Insurance: −$450
• − Repairs & maintenance: −$1,034
• − Management: −$1,034
• − Depreciation: −$2,618
• Taxable income: $1,396
• Est. tax owed @ 24.0%: −$335
• After-tax cash flow: $2,411/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): 21,631
• Household income: $50,450
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 841.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 13% Black 12% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10%
• Common ancestry: Romanian 25% Lithuanian 1% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Arabic 2%

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: ▲ 8.06%
• Current HPI: 457.3935
• Rent YoY: —
• 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

+143.2% since first listed

6 events — show timeline

• 2026-05-07 Price Changed $90,000 WNYREIS
• 2026-04-01 Listed $100,000 WNYREIS
• 2026-03-29 Listing Removed — WNYREIS
• 2025-12-26 Price Changed $89,900 WNYREIS
• 2025-12-11 Listed $109,900 WNYREIS
• 1994-06-09 Sold (Public Records) $37,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $163 · +0.0% YoY. Source: county tax records.