205 Charter Oaks Dr #3 · University at Buffalo, NY 14228

$120,000

1 bd · 1.0 ba · 795 sqft · Condo public records · 1 Days on market

Built 1971 $371/mo HOA · 21% of rent

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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 +21.1/30.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• Schools +4.5/10.0
• Livability +4.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Owner will consider offers between $120,000–$145,000 or more on this gleaming & meticulously cared for 1 bedroom condo in the desirable Charter Oaks subdivision, just steps from UB. The bright open floor plan makes an immediate impression. The living & dining area flows together w a freshly painted interior, newer flooring & natural light pouring in from the brand new slider door that opens directly to your own private balcony facing the gardens. The step-saver kitchen is laid out for efficiency without sacrificing style — electric oven & range, dishwasher, & refrigerator all included. The bedroom is generous & comfortable, served by a full bat

Key facts

• Newer flooring
• Private balcony
• Central a/c

Tags

• PRIVATE BALCONY
• FRESHLY PAINTED INTERIOR
• NEWER FLOORING
• CENTRAL A/C
• FULL BASEMENT
• LOCKED STORAGE ROOM

Property features AI

Finance

• Financial info: Pets allowed (cats and dogs), maximum pet weight 35 lbs
• HOA & community: Monthly association fee; Association amenities include clubhouse, pool, and tennis courts; Association fee covers common area maintenance and insurance, common areas, maintenance structure, reserves, sewer, snow removal, trash, and water

Exterior

• Parking: Open parking (no garage); 1 parking space
• Utilities: Public water connected; Sewer connected
• Home design: Brick construction; 1 story; Resale property
• Construction: Brick exterior
• Exterior features: Balcony; Open porch

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Range hood; Refrigerator; Exhaust fan
• Bedrooms: Bedroom (second level) — ~16 x 11
• Flooring: Laminate; Varies
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas heating with forced air; Central air conditioning
• Interior features: Laminate and varied flooring; Basement (full)
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $171 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 8.0% vs local median 2.8% in University at 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 88/100 on livability (#9 in NY, #176 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, commute A+; Watch: cost of living D+, employment F.
• Sweet Home Central School District (suburban): math 46% / reading 59% proficiency, ranked #342 of 590 in NY (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 94 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $46k; list at $120k implies a 158% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.45% ✓
• Cap rate: 8.00%
• Cash-on-cash: 6.10%
• DSCR: 1.27
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -6.7%
• Equity multiple: 0.75×
• Total profit: $-8,308
• Equity at exit: $17,892

10-year hold

• IRR: 3.2%
• Equity multiple: 1.23×
• Total profit: $7,819
• Equity at exit: $10,375

Cash invested: $33,600 (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 14228

• Home prices YoY: -31.9%
• Active inventory: 94
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,741 high
• Mortgage (P&I): −$629
• Tax from tax record: −$154 /mo · $1,846/yr
• Insurance: −$50
• HOA: −$371
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $171

Break-even live

Break-even rent $1,524

Max offer price $120,000

Occupancy floor 85%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
205 Charter Oaks Dr #4 Buffalo, NY	1.0	1.0	795	$1,500	$1.89	2d	1	0.01mi
1880 Sweet Home Rd Buffalo, NY	1.0–2.0	1.0	745	$1,830	$2.46	3d	6	0.31mi
2635 N Forest Rd Unit Type F Getzville, NY	—	1.0	575	$1,525	$2.65	2d	1	0.60mi
2635 N Forest Rd Unit Type G Getzville, NY	1.0	1.0	705	$1,699	$2.41	2d	1	0.60mi
2493 Sweet Home Rd Unit 1-106 Buffalo, NY	2.0	2.0	943	$1,782	$1.89	24d	1	0.93mi
2493 Sweet Home Rd Unit 101A Buffalo, NY	2.0	2.0	1000	$3,500	$3.50	44d	1	0.93mi
2493 Sweet Home Rd Apt 101 Buffalo, NY	2.0	2.0	1000	$2,850	$2.85	3d	1	0.93mi
2493 Sweet Home Rd Unit 1-201 Buffalo, NY	2.0	2.0	943	$1,904	$2.02	44d	1	0.93mi
2493 Sweet Home Rd Unit 202 Buffalo, NY	1.0	1.0	1000	$2,850	$2.85	44d	1	0.93mi
3948 Ridge Lea Rd Unit D Buffalo, NY	2.0	1.0	952	$1,850	$1.94	2d	1	1.47mi

HOA detail condo

• Monthly dues: $371 · $4,452/yr
• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-17
   remarks 663-char remark
2. 2026-06-17
   listed $120,000 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: $1,846 · $154/mo
• Projected year-2 tax: $1,937 · $161/mo
• Expected delta: +$91/yr (+$8/mo · 4.9%)

ⓘ 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 ≥94°F today · 16 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: $20,886
• − Mortgage interest: −$6,722
• − Property taxes: −$1,846
• − Insurance: −$600
• − Repairs & maintenance: −$1,671
• − Management: −$1,671
• − HOA: −$4,452
• − Depreciation: −$3,491
• Taxable income: $433
• Est. tax owed @ 24.0%: −$104
• After-tax cash flow: $1,946/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: Sweet Home Central School District
• NCES district ID: 3628500
• Math proficiency: 46% ▼ -12.00%
• Reading proficiency: 59% ▲ 4.00%
• Median HH income: $48,509
• Composite: 44.67/100
• National rank: #2765
• State rank: #342 of 590 in NY

Livability — University at Buffalo

• Score: 88/100
• State rank: #9
• US rank: #176

Category grades

Amenities A+ Commute A+ Cost of living D+ Crime A Employment F Housing B Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Erie County · 714,559 people
• City population: 5,827
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 25,350
• Household income: $74,871
• Rent vs Own: 46.9% rent · 53.1% own
• Severe rent burden: 1566.0

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 (74%)
• Race & ethnicity: White 74% Asian 13% Black 5% Hispanic / Latino 5% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 13% Scotch-Irish 2% Lithuanian 1%
• Foreign-born: 17% · China, Canada, South Korea
• Languages at home: 78% English-only · Chinese 6% Other Indo-European 4% Russian/Polish/Slavic 3%

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: ▼ -148.08%
• Current HPI: 316.3097
• 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

+158.1% since first listed

2 events — show timeline

• 2026-06-17 Listed $120,000 WNYREIS
• 2004-08-30 Sold (Public Records) $46,500 Public Records

Property tax history

+9.1%/yr

Latest (2025): $1,846 · -0.0% YoY. Source: county tax records.