45 Otis Pl · Buffalo, NY 14209

$149,900

4 bd · 1.5 ba · 1,584 sqft · SingleFamily public records · 71 Days on market

Built 1880 1,800 sqft lot $95/sqft · 34% below area Est $227k · 34% under

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Why this score? — see what drove the A- 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 +29.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Appreciation +5.9/10.0
• Rent growth +4.6/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to 45 Otis Place, a beautifully maintained home nestled on a quiet, tree-lined street in Buffalo’s desirable West Side. This charming residence blends classic character with modern updates, offering a warm and inviting atmosphere from the moment you step inside. Featuring spacious living and dining areas filled with natural light, the home is perfect for both everyday living and entertaining. The kitchen boasts ample cabinetry, stylish finishes, and convenient access to the backyard—ideal for outdoor gatherings or relaxing evenings. Upstairs, you’ll find 4 generously sized bedrooms, along with a well-appointed full bath. Original details and architectural accents add timeless appeal throughout. Outside, enjoy a private yard with room to garden, play, or unwind, along with off-street parking for added convenience. Located just minutes from local shops, restaurants, parks, and downtown Buffalo, this home offers both comfort and accessibility. Whether you’re a first-time buyer or looking to upgrade, 45 Otis Place is a wonderful place to call home.

Key facts

• Off street parking
• Ample cabinetry
• Private yard

Tags

• SPACIOUS LIVING AREAS
• AMPLE CABINETRY
• PRIVATE YARD
• OFF STREET PARKING
• MINUTES FROM LOCAL SHOPS

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $542 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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 (+8.5%/yr); 56 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).
• At $1,998/mo this rent would consume 48% of the median local household income ($50k/yr) (locally 959% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (1.9% local appreciation)).
• At projected returns (1.9% appreciation + 8.0% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y ago; this cycle's ask has dropped $70k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $29k; list at $150k implies a 417% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — 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: 1.33% ✓
• Cap rate: 10.63%
• Cash-on-cash: 15.50%
• DSCR: 1.69
• GRM: 6.3

CMA / ARV

• ARV (median comp): $227,293
• List price: $149,900
• Delta: -34.05%
• 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
113 Laurel St	0.33mi	5/1.0 (+1)	1,544 (-2%)	1mo	$163,000	$106	72
273 Purdy St	0.42mi	4/2.0	1,520 (-4%)	6mo	$90,000	$59	66
187 Chester St	0.35mi	3/1.5 (-1)	1,456 (-8%)	1mo	$99,000	$68	64
188 Waverly St	0.37mi	3/1.5 (-1)	1,541 (-3%)	15mo	$264,000	$171	61
91 Southampton St	0.55mi	4/1.0	1,590 (+0%)	13mo	$254,400	$160	61
146 Waverly St	0.33mi	3/1.5 (-1)	1,456 (-8%)	8mo	$250,000	$172	60
40 Edna Pl	0.64mi	4/2.0	1,507 (-5%)	13mo	$182,500	$121	49
164 Harvard Pl	0.54mi	3/2.5 (-1)	1,700 (+7%)	8mo	$344,000	$202	47
291 Northampton St	0.61mi	4/2.0	1,806 (+14%)	3mo	$255,000	$141	43
144 Northampton St	0.46mi	3/2.0 (-1)	1,801 (+14%)	9mo	$44,500	$25	41
76 Dupont St	0.52mi	5/3.0 (+1)	1,746 (+10%)	10mo	$200,500	$115	39
59 Landon St	0.67mi	4/1.0	1,424 (-10%)	14mo	$76,500	$54	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.86% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 23.2%
• Equity multiple: 2.29×
• Total profit: $54,350
• Equity at exit: $58,013

10-year hold

• IRR: 28.1%
• Equity multiple: 5.20×
• Total profit: $176,320
• Equity at exit: $82,694

Cash invested: $41,972 (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 14209

• Home prices YoY: 0.4%
• Rents YoY: 8.5%
• Active inventory: 56
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,998 high
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $542

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 68%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
76 Chester St Unit 1 Buffalo, NY	3.0	1.0	1100	$1,000	$0.91	14d	1	0.22mi
238 Oxford Ave Unit Upper Buffalo, NY	3.0	1.0	1100	$1,600	$1.45	23d	1	0.55mi
102 Florida St Buffalo, NY	3.0	1.0	1296	$1,650	$1.27	43d	1	0.60mi
685 Auburn Ave Unit 2 Buffalo, NY	3.0	1.0	1200	$1,750	$1.46	14d	1	0.69mi
740 Elmwood Ave Buffalo, NY	3.0	1.0	2000	$1,995	$1.00	14d	1	0.76mi
330 Bryant St Buffalo, NY	3.0	2.0	2224	$2,200	$0.99	19d	1	0.90mi
118 Ashland Ave Buffalo, NY	3.0	1.0	1326	$1,850	$1.40	14d	1	0.91mi
184 Butler Ave Unit 1545840P Buffalo, NY	4.0	1.0	1496	$3,226	$2.16	14d	1	0.91mi
179 Donaldson Rd Buffalo, NY	3.0	1.0	1152	$1,350	$1.17	3d	1	0.93mi
825 Forest Ave Buffalo, NY	3.0	1.0	1200	$2,000	$1.67	23d	1	1.00mi
825 Forest Ave Unit 1 Buffalo, NY	3.0	1.0	1200	$1,700	$1.42	3d	1	1.00mi
563 Humboldt Pkwy Buffalo, NY	3.0	1.0	2004	$1,200	$0.60	23d	1	1.04mi
478 Breckenridge St Buffalo, NY	3.0	1.0	1100	$1,575	$1.43	43d	1	1.08mi
117 Humboldt Pkwy Unit A Buffalo, NY	3.0	1.0	1105	$2,300	$2.08	43d	1	1.13mi
40 Putnam St Buffalo, NY	4.0	1.0	1600	$2,100	$1.31	23d	1	1.14mi
73 Inter Park Ave Buffalo, NY	3.0	1.0	2080	$1,300	$0.62	14d	1	1.15mi
161 16th St Buffalo, NY	3.0	1.5	1500	$2,000	$1.33	23d	1	1.19mi
44 N Pearl St #5 Buffalo, NY	3.0	1.0	1200	$2,400	$2.00	43d	1	1.19mi
17 N Pearl St Unit 3 Buffalo, NY	3.0	2.0	1197	$3,100	$2.59	23d	1	1.24mi
836 Richmond Ave Buffalo, NY	4.0	3.5	1982	$4,500	$2.27	43d	1	1.25mi
375 Hampshire St Buffalo, NY	3.0	1.0	1200	$1,100	$0.92	43d	1	1.29mi
891 Richmond Ave Buffalo, NY	3.0	1.0	1176	$1,800	$1.53	43d	1	1.30mi
184 14th St Buffalo, NY	4.0	2.0	1950	$4,400	$2.26	23d	1	1.32mi
37 Abbottsford Pl Buffalo, NY	3.0	1.0	1130	$1,650	$1.46	43d	1	1.37mi
124 Normal Ave Unit 2 Buffalo, NY	3.0	1.0	1727	$2,000	$1.16	23d	1	1.37mi
374 Baynes St Buffalo, NY	3.0	1.0	1126	$1,550	$1.38	43d	1	1.38mi
21 College St Buffalo, NY	3.0	1.0	1104	$1,850	$1.68	23d	1	1.39mi
310 Hampshire St Apt 3 Buffalo, NY	3.0	1.0	1200	$1,500	$1.25	43d	1	1.41mi
309 Bird Ave Unit 1 Buffalo, NY	3.0	1.0	1100	$2,200	$2.00	43d	1	1.48mi
305 Bird Ave Unit 3 Buffalo, NY	3.0	1.5	1128	$2,300	$2.04	43d	1	1.49mi

Listing history 34 events

1. 2026-06-18
   days on market $149,900 Active 71 DOM
2. 2026-06-17
   days on market $149,900 Active 70 DOM
3. 2026-06-16
   days on market $149,900 Active 69 DOM
4. 2026-06-15
   days on market $149,900 Active 68 DOM
5. 2026-06-13
   days on market $149,900 Active 66 DOM
6. 2026-06-13
   days on market $149,900 Active 65 DOM
7. 2026-06-10
   days on market $149,900 Active 63 DOM
8. 2026-06-09
   days on market $149,900 Active 62 DOM
9. 2026-06-08
   days on market $149,900 Active 61 DOM
10. 2026-06-07
    days on market $149,900 Active 60 DOM
11. 2026-06-03
    days on market $149,900 Active 56 DOM
12. 2026-06-02
    days on market $149,900 Active 55 DOM
13. 2026-06-02
    price $149,900 Active 54 DOM
14. 2026-06-01
    days on market $169,900 Active 54 DOM
15. 2026-05-31
    days on market $169,900 Active 53 DOM
16. 2026-05-05
    price $169,900 1092-char remark

    Show marketing remark (1092 chars)

    Welcome to 45 Otis Place, a beautifully maintained home nestled on a quiet, tree-lined street in Buffalo’s desirable West Side. This charming residence blends classic character with modern updates, offering a warm and inviting atmosphere from the moment you step inside. Featuring spacious living and dining areas filled with natural light, the home is perfect for both everyday living and entertaining. The kitchen boasts ample cabinetry, stylish finishes, and convenient access to the backyard—ideal for outdoor gatherings or relaxing evenings. Upstairs, you’ll find 4 generously sized bedrooms, along with a well-appointed full bath. Original details and architectural accents add timeless appeal throughout. Outside, enjoy a private yard with room to garden, play, or unwind, along with off-street parking for added convenience. Located just minutes from local shops, restaurants, parks, and downtown Buffalo, this home offers both comfort and accessibility. Whether you’re a first-time buyer or looking to upgrade, 45 Otis Place is a wonderful place to call home.

17. 2026-04-29
    price $179,900 1092-char remark

    Show marketing remark (1092 chars)

    Welcome to 45 Otis Place, a beautifully maintained home nestled on a quiet, tree-lined street in Buffalo’s desirable West Side. This charming residence blends classic character with modern updates, offering a warm and inviting atmosphere from the moment you step inside. Featuring spacious living and dining areas filled with natural light, the home is perfect for both everyday living and entertaining. The kitchen boasts ample cabinetry, stylish finishes, and convenient access to the backyard—ideal for outdoor gatherings or relaxing evenings. Upstairs, you’ll find 4 generously sized bedrooms, along with a well-appointed full bath. Original details and architectural accents add timeless appeal throughout. Outside, enjoy a private yard with room to garden, play, or unwind, along with off-street parking for added convenience. Located just minutes from local shops, restaurants, parks, and downtown Buffalo, this home offers both comfort and accessibility. Whether you’re a first-time buyer or looking to upgrade, 45 Otis Place is a wonderful place to call home.

18. 2026-04-13
    price $199,900 1092-char remark

    Show marketing remark (1092 chars)

    Welcome to 45 Otis Place, a beautifully maintained home nestled on a quiet, tree-lined street in Buffalo’s desirable West Side. This charming residence blends classic character with modern updates, offering a warm and inviting atmosphere from the moment you step inside. Featuring spacious living and dining areas filled with natural light, the home is perfect for both everyday living and entertaining. The kitchen boasts ample cabinetry, stylish finishes, and convenient access to the backyard—ideal for outdoor gatherings or relaxing evenings. Upstairs, you’ll find 4 generously sized bedrooms, along with a well-appointed full bath. Original details and architectural accents add timeless appeal throughout. Outside, enjoy a private yard with room to garden, play, or unwind, along with off-street parking for added convenience. Located just minutes from local shops, restaurants, parks, and downtown Buffalo, this home offers both comfort and accessibility. Whether you’re a first-time buyer or looking to upgrade, 45 Otis Place is a wonderful place to call home.

19. 2026-04-01
    listed $219,900 Active 1092-char remark

    Show marketing remark (1092 chars)

    Welcome to 45 Otis Place, a beautifully maintained home nestled on a quiet, tree-lined street in Buffalo’s desirable West Side. This charming residence blends classic character with modern updates, offering a warm and inviting atmosphere from the moment you step inside. Featuring spacious living and dining areas filled with natural light, the home is perfect for both everyday living and entertaining. The kitchen boasts ample cabinetry, stylish finishes, and convenient access to the backyard—ideal for outdoor gatherings or relaxing evenings. Upstairs, you’ll find 4 generously sized bedrooms, along with a well-appointed full bath. Original details and architectural accents add timeless appeal throughout. Outside, enjoy a private yard with room to garden, play, or unwind, along with off-street parking for added convenience. Located just minutes from local shops, restaurants, parks, and downtown Buffalo, this home offers both comfort and accessibility. Whether you’re a first-time buyer or looking to upgrade, 45 Otis Place is a wonderful place to call home.

20. 2025-09-11
    listed $149,900 Active
21. 2022-09-30
    historical
22. 2022-05-06
    status Active
23. 2022-05-06
    status Under Contract- Do Not Show
24. 2022-03-21
    listed $79,900 Active
25. 2019-09-09
    soldstatus $29,000 Closed Sale or Rented
26. 2019-08-08
    status Under Contract- Do Not Show
27. 2019-08-06
    price $29,900
28. 2019-07-31
    status Active
29. 2019-06-21
    status Under Contract- Do Not Show
30. 2019-06-19
    price $39,900
31. 2019-06-05
    price $44,900
32. 2019-05-06
    price $49,900
33. 2019-04-30
    listed $59,900 Active
34. 2015-10-19
    soldstatus $68,325

ⓘ 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 ≥91°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,971
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,918
• − Management: −$1,918
• − Depreciation: −$4,361
• Taxable income: $4,380
• Est. tax owed @ 24.0%: −$1,051
• After-tax cash flow: $5,455/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): 8,313
• Household income: $50,046
• Rent vs Own: 66.3% rent · 33.7% own
• Severe rent burden: 959.0

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 0.62)
• Race & ethnicity: White 53% Black 30% Hispanic / Latino 11% Two or more races 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 6% Dominican 1%
• Common ancestry: Romanian 6% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 9% · Canada, Dominican Republic, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 2% French/Haitian/Cajun 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: ▲ 1.86%
• Current HPI: 443.9414
• Rent YoY: ▲ 8.53%
• 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

+148.7% since first listed

19 events — show timeline

• 2026-05-05 Price Changed $169,900 WNYREIS
• 2026-04-29 Price Changed $179,900 WNYREIS
• 2026-04-13 Price Changed $199,900 WNYREIS
• 2026-04-01 Listed $219,900 WNYREIS
• 2025-09-11 Listed $149,900 WNYREIS
• 2022-09-30 Listing Removed — WNYREIS
• 2022-05-06 Relisted — WNYREIS
• 2022-05-06 Pending — WNYREIS
• 2022-03-21 Listed $79,900 WNYREIS
• 2019-09-09 Sold (MLS) $29,000 WNYREIS
• 2019-08-08 Pending — WNYREIS
• 2019-08-06 Price Changed $29,900 WNYREIS
• 2019-07-31 Relisted — WNYREIS
• 2019-06-21 Pending — WNYREIS
• 2019-06-19 Price Changed $39,900 WNYREIS
• 2019-06-05 Price Changed $44,900 WNYREIS
• 2019-05-06 Price Changed $49,900 WNYREIS
• 2019-04-30 Listed $59,900 WNYREIS
• 2015-10-19 Sold (Public Records) $68,325 Public Records

Property tax history

+7.5%/yr

Latest (2025): $179 · +0.0% YoY. Source: county tax records.