400 Ontario St · Buffalo, NY 14207

$149,900

3 bd · 1.0 ba · 1,188 sqft · SingleFamily public records · 21 Days on market

Built 1923 3,300 sqft lot $126/sqft · 29% below area Est $212k · 29% under ↓ 5% since listing

---

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 +19.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.1/10.0
• Rent growth +4.5/5.0
• Livability +3.9/5.0
• 1% rule +3.8/10.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very well maintained home offering a perfect blend of character and thoughtful updates! Exterior features low-maintenance vinyl siding, a tear-off roof (2024), a covered front porch, and a concrete driveway providing convenient off-street parking. Decorative security storm doors add both charm and functionality. Step inside to find beautiful original woodwork, decorative leaded glass windows in the living room & dining room, fresh interior paint, and a mix of hardwood and parquet flooring throughout. The living room also features a decorative fireplace and brand-new carpet. A heated sun porch with hardwood flooring provides ideal flex space for a home office, playroom, or additional living area. The kitchen offers modernized cabinetry with space available for a dishwasher. The full bath includes a newer tub with easy-care shower surround. Additional highlights include updated electric including service cable, copper plumbing, and a forced air furnace with humidifier (regularly maintained), with the option to add central air. The hot water tank was replaced in 2025. The basement has been improved with interior drain tile along all four walls and glass block windows, offering added peace of mind. Upstairs, a bedroom provides access to a walk-up attic, perfect for abundant storage or future possibilities. There are 2 hardwired smoke detectors for added safety. Enjoy the partially fenced yard—only needing a section across the driveway to be fully enclosed. This move-in ready home showcases pride of ownership throughout!

Key facts

• Covered front porch
• Hardwood flooring
• Tear-off roof

Tags

• LOW-MAINTENANCE VINYL SIDING
• TEAR-OFF ROOF
• COVERED FRONT PORCH
• CONCRETE DRIVEWAY
• ORIGINAL WOODWORK
• HARDWOOD FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $162 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (12.3% below list).
• Recommended offer: $131k (12.3% 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 fast (+8.2%/yr); 197 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 40% of the median local income ($40k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,409 (12.3% below list)

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.88% ✗
• Cap rate: 7.59%
• Cash-on-cash: 4.62%
• DSCR: 1.21
• GRM: 9.5

CMA / ARV

• ARV (median comp): $212,330
• List price: $149,900
• Delta: -29.40%
• 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
82 Beatrice Ave	0.20mi	3/1.0	1,166 (-2%)	2mo	$165,000	$142	86
62 Chadduck Ave	0.11mi	3/1.0	1,240 (+4%)	2mo	$155,000	$125	86
136 Newfield St	0.33mi	3/1.5	1,198 (+1%)	2mo	$167,000	$139	80
38 Wyandotte Ave	0.36mi	4/1.0 (+1)	1,200 (+1%)	2mo	$150,000	$125	75
50 Philadelphia St	0.25mi	3/1.5	1,276 (+7%)	1mo	$155,000	$121	73
280 Esser Ave	0.29mi	3/1.0	1,283 (+8%)	3mo	$175,000	$136	71
56 Gallatin Ave	0.34mi	3/1.5	1,052 (-11%)	2mo	$178,000	$169	61
186 Crowley Ave	0.17mi	4/2.0 (+1)	1,333 (+12%)	2mo	$215,000	$161	60
107 Ullman St	0.49mi	4/2.0 (+1)	1,258 (+6%)	3mo	$118,000	$94	56
36 Layer Ave	0.54mi	3/1.0	1,040 (-12%)	0mo	$185,000	$178	53
88 Huetter Ave Ave	0.64mi	3/1.5	1,317 (+11%)	1mo	$250,000	$190	49
19 Royal Ave	0.53mi	4/1.0 (+1)	1,021 (-14%)	2mo	$159,547	$156	45

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -4.4%
• Equity multiple: 0.83×
• Total profit: $-7,134
• Equity at exit: $22,351

10-year hold

• IRR: 9.8%
• Equity multiple: 1.91×
• Total profit: $38,328
• Equity at exit: $12,961

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 14207

• Home prices YoY: -18.9%
• Rents YoY: 8.2%
• Active inventory: 197
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,314 high
• Mortgage (P&I): −$786
• Tax from tax record: −$28 /mo · $336/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $162

Break-even live

Break-even rent $1,110

Max offer price $149,900

Occupancy floor 83%

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 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15 Beatrice Ave Buffalo, NY	2.0	1.0	950	$1,150	$1.21	14d	1	0.15mi
239 Crowley Ave Buffalo, NY	2.0	1.0	966	$1,025	$1.06	3d	1	0.16mi
134 Philadelphia St Buffalo, NY	3.0	1.0	871	$1,100	$1.26	3d	1	0.21mi
158 Chadduck Ave Buffalo, NY	4.0	1.0	1200	$1,250	$1.04	24d	1	0.27mi
118 Rano St Buffalo, NY	3.0	1.0	1050	$1,200	$1.14	21d	1	0.45mi
2075 Kenmore Ave Unit 611 Buffalo, NY	2.0	2.0	981	$1,950	$1.99	2d	1	0.60mi
62 Seabrook St Buffalo, NY	4.0	1.0	1300	$2,000	$1.54	2d	1	0.62mi
356 Hertel Ave Buffalo, NY	2.0	1.5	800	$2,300	$2.88	3d	1	0.63mi
480 W Hazeltine Ave Buffalo, NY	3.0	1.0	989	$1,900	$1.92	24d	1	0.64mi
68 Laforce Pl Unit U Buffalo, NY	2.0	1.0	900	$1,099	$1.22	44d	1	0.64mi
15 Ontario St Unit 1 Buffalo, NY	3.0	1.0	1000	$1,500	$1.50	2d	1	0.73mi
2099 Niagara St Unit A Buffalo, NY	2.0	1.0	1000	$1,197	$1.20	44d	1	0.99mi
155 Germain St Apt 1 Buffalo, NY	2.0	1.0	1000	$1,000	$1.00	10d	1	1.03mi
72 Reservation St Unit 2 Buffalo, NY	3.0	1.0	950	$1,150	$1.21	24d	1	1.12mi
68 Peter St Buffalo, NY	2.0	1.0	900	$900	$1.00	24d	1	1.21mi
62 Germain St Buffalo, NY	3.0	1.0	1320	$1,250	$0.95	24d	1	1.21mi
293 Grote St Buffalo, NY	1.0–2.0	1.0–2.0	817	$2,345	$2.87	2d	1	1.31mi
237 W Girard Blvd Buffalo, NY	4.0	1.5	1329	$4,000	$3.01	24d	1	1.46mi
1558 Elmwood Ave Unit 4 Buffalo, NY	2.0	1.0	800	$1,100	$1.38	44d	1	1.49mi

Listing history 5 events

1. 2026-05-04
   status Pending 1556-char remark

   Show marketing remark (1556 chars)

   Very well maintained home offering a perfect blend of character and thoughtful updates! Exterior features low-maintenance vinyl siding, a tear-off roof (2024), a covered front porch, and a concrete driveway providing convenient off-street parking. Decorative security storm doors add both charm and functionality. Step inside to find beautiful original woodwork, decorative leaded glass windows in the living room & dining room, fresh interior paint, and a mix of hardwood and parquet flooring throughout. The living room also features a decorative fireplace and brand-new carpet. A heated sun porch with hardwood flooring provides ideal flex space for a home office, playroom, or additional living area. The kitchen offers modernized cabinetry with space available for a dishwasher. The full bath includes a newer tub with easy-care shower surround. Additional highlights include updated electric including service cable, copper plumbing, and a forced air furnace with humidifier (regularly maintained), with the option to add central air. The hot water tank was replaced in 2025. The basement has been improved with interior drain tile along all four walls and glass block windows, offering added peace of mind. Upstairs, a bedroom provides access to a walk-up attic, perfect for abundant storage or future possibilities. There are 2 hardwired smoke detectors for added safety. Enjoy the partially fenced yard—only needing a section across the driveway to be fully enclosed. This move-in ready home showcases pride of ownership throughout!

2. 2026-04-29
   price $149,900 1556-char remark

   Show marketing remark (1556 chars)

   Very well maintained home offering a perfect blend of character and thoughtful updates! Exterior features low-maintenance vinyl siding, a tear-off roof (2024), a covered front porch, and a concrete driveway providing convenient off-street parking. Decorative security storm doors add both charm and functionality. Step inside to find beautiful original woodwork, decorative leaded glass windows in the living room & dining room, fresh interior paint, and a mix of hardwood and parquet flooring throughout. The living room also features a decorative fireplace and brand-new carpet. A heated sun porch with hardwood flooring provides ideal flex space for a home office, playroom, or additional living area. The kitchen offers modernized cabinetry with space available for a dishwasher. The full bath includes a newer tub with easy-care shower surround. Additional highlights include updated electric including service cable, copper plumbing, and a forced air furnace with humidifier (regularly maintained), with the option to add central air. The hot water tank was replaced in 2025. The basement has been improved with interior drain tile along all four walls and glass block windows, offering added peace of mind. Upstairs, a bedroom provides access to a walk-up attic, perfect for abundant storage or future possibilities. There are 2 hardwired smoke detectors for added safety. Enjoy the partially fenced yard—only needing a section across the driveway to be fully enclosed. This move-in ready home showcases pride of ownership throughout!

3. 2026-04-17
   status Active 1556-char remark

   Show marketing remark (1556 chars)

   Very well maintained home offering a perfect blend of character and thoughtful updates! Exterior features low-maintenance vinyl siding, a tear-off roof (2024), a covered front porch, and a concrete driveway providing convenient off-street parking. Decorative security storm doors add both charm and functionality. Step inside to find beautiful original woodwork, decorative leaded glass windows in the living room & dining room, fresh interior paint, and a mix of hardwood and parquet flooring throughout. The living room also features a decorative fireplace and brand-new carpet. A heated sun porch with hardwood flooring provides ideal flex space for a home office, playroom, or additional living area. The kitchen offers modernized cabinetry with space available for a dishwasher. The full bath includes a newer tub with easy-care shower surround. Additional highlights include updated electric including service cable, copper plumbing, and a forced air furnace with humidifier (regularly maintained), with the option to add central air. The hot water tank was replaced in 2025. The basement has been improved with interior drain tile along all four walls and glass block windows, offering added peace of mind. Upstairs, a bedroom provides access to a walk-up attic, perfect for abundant storage or future possibilities. There are 2 hardwired smoke detectors for added safety. Enjoy the partially fenced yard—only needing a section across the driveway to be fully enclosed. This move-in ready home showcases pride of ownership throughout!

4. 2026-04-15
   status Pending 1556-char remark

   Show marketing remark (1556 chars)

   Very well maintained home offering a perfect blend of character and thoughtful updates! Exterior features low-maintenance vinyl siding, a tear-off roof (2024), a covered front porch, and a concrete driveway providing convenient off-street parking. Decorative security storm doors add both charm and functionality. Step inside to find beautiful original woodwork, decorative leaded glass windows in the living room & dining room, fresh interior paint, and a mix of hardwood and parquet flooring throughout. The living room also features a decorative fireplace and brand-new carpet. A heated sun porch with hardwood flooring provides ideal flex space for a home office, playroom, or additional living area. The kitchen offers modernized cabinetry with space available for a dishwasher. The full bath includes a newer tub with easy-care shower surround. Additional highlights include updated electric including service cable, copper plumbing, and a forced air furnace with humidifier (regularly maintained), with the option to add central air. The hot water tank was replaced in 2025. The basement has been improved with interior drain tile along all four walls and glass block windows, offering added peace of mind. Upstairs, a bedroom provides access to a walk-up attic, perfect for abundant storage or future possibilities. There are 2 hardwired smoke detectors for added safety. Enjoy the partially fenced yard—only needing a section across the driveway to be fully enclosed. This move-in ready home showcases pride of ownership throughout!

5. 2026-04-11
   listed $158,000 Active 1556-char remark

   Show marketing remark (1556 chars)

   Very well maintained home offering a perfect blend of character and thoughtful updates! Exterior features low-maintenance vinyl siding, a tear-off roof (2024), a covered front porch, and a concrete driveway providing convenient off-street parking. Decorative security storm doors add both charm and functionality. Step inside to find beautiful original woodwork, decorative leaded glass windows in the living room & dining room, fresh interior paint, and a mix of hardwood and parquet flooring throughout. The living room also features a decorative fireplace and brand-new carpet. A heated sun porch with hardwood flooring provides ideal flex space for a home office, playroom, or additional living area. The kitchen offers modernized cabinetry with space available for a dishwasher. The full bath includes a newer tub with easy-care shower surround. Additional highlights include updated electric including service cable, copper plumbing, and a forced air furnace with humidifier (regularly maintained), with the option to add central air. The hot water tank was replaced in 2025. The basement has been improved with interior drain tile along all four walls and glass block windows, offering added peace of mind. Upstairs, a bedroom provides access to a walk-up attic, perfect for abundant storage or future possibilities. There are 2 hardwired smoke detectors for added safety. Enjoy the partially fenced yard—only needing a section across the driveway to be fully enclosed. This move-in ready home showcases pride of ownership throughout!

ⓘ 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: $336 · $28/mo
• Projected year-2 tax: $1,435 · $120/mo
• Expected delta: +$1,099/yr (+$92/mo · 326.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,769
• − Mortgage interest: −$8,397
• − Property taxes: −$336
• − Insurance: −$750
• − Repairs & maintenance: −$1,262
• − Management: −$1,262
• − Depreciation: −$4,361
• Taxable loss: −$597
• Est. tax savings @ 24.0%: +$143
• After-tax cash flow: $2,082/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): 26,327
• Household income: $39,753
• Rent vs Own: 65.0% rent · 35.0% own
• Severe rent burden: 2177.0

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: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: White 40% Hispanic / Latino 23% Black 16% Asian 15% Two or more races 14%
• Hispanic origin (detail): Puerto Rican 18% Dominican 2%
• Common ancestry: Romanian 8% Portuguese 1% Arab 1%
• Foreign-born: 19% · Philippines, Canada, India
• Languages at home: 65% English-only · Spanish 14% Other Asian/Pacific 10% Other Indo-European 5%

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: ▼ -54.42%
• Current HPI: 233.0902
• Rent YoY: ▲ 8.19%
• 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

-5.1% since first listed

5 events — show timeline

• 2026-05-04 Pending — WNYREIS
• 2026-04-29 Price Changed $149,900 WNYREIS
• 2026-04-17 Relisted — WNYREIS
• 2026-04-15 Pending — WNYREIS
• 2026-04-11 Listed $158,000 WNYREIS

Property tax history

+4.3%/yr

Latest (2025): $336 · +0.0% YoY. Source: county tax records.