127 14th St · Buffalo, NY 14213

$175,000

4 bd · 2.0 ba · 2,058 sqft · MultiFamily public records · 9 Days on market

Built 1900 2,613 sqft lot Est $311k · 44% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.8/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Offers will be reviewed on Wednesday, 6/17 after 12 pm. Situated on the West Side, this 2 family is fully rented with long term tenants. The lower unit consists of living room, dining room, spacious eat-in kitchen with pantry, & 2 bedroom - recent flooring - has a forced air furnace. Upper unit consists of living room, formal dining room, eat-in kitchen & 2 bedrooms - recent space heater. Both units have access to back storage & basement. Photos have been altered to exclude some of the tenant's personal belongings.

Key facts

• Recent flooring
• Formal dining room
• Long term tenants

Tags

• FULLY RENTED
• LONG TERM TENANTS
• SPACIOUS EAT-IN KITCHEN
• RECENT FLOORING
• FORCED AIR FURNACE
• FORMAL DINING ROOM

Property features AI

Finance

• Other: Owner pays trash collection and water; rent may include trash collection and water
• Financial info: Two total units (multi-family); Separate gas and electric meters for each unit; Operating expenses include rent and water/sewer

Exterior

• Parking: On-street parking
• Utilities: Public water connected; Sewer connected; Circuit breaker electrical service
• Home design: Two-story building; Existing property condition
• Construction: Wood siding; Asphalt roof; Stone foundation; Built previously (existing)
• Exterior features: Near public transit; Rectangular lot (approximately 25 x 100 feet)

Interior

• Flooring: Carpet; Linoleum; Tile; Vinyl; Varies
• Bathrooms: Two full bathrooms
• Heating & cooling: Gas heating; Forced air; Space heater
• Interior features: Partial basement; Carpet, linoleum, tile, vinyl and varying flooring throughout
• Laundry & utility: Gas water heater

🏷️ Possibly a rental listed for sale. The $175,000 price doesn't fit this home's estimated sale value (~$310,758) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $710/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).
• Cap rate 16.0% 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 soft (-0.5%/yr); 137 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,150/mo this rent would consume 70% of the median local household income ($54k/yr) (locally 1501% 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 $14k of equity ($1k loan paydown + $13k appreciation (7.5% local appreciation)).
• At projected returns (7.5% appreciation + 0.0% rent growth), your $49k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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 $22k; list at $175k implies a 678% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $175,000

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 1900 — 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: 1.80% ✓
• Cap rate: 16.03%
• Cash-on-cash: 34.76%
• DSCR: 2.55
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $310,758
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
193 14th St	0.13mi	3/2.0 (-1)	2,040 (-1%)	6mo	$156,000	$76	83
375 Plymouth Ave	0.36mi	4/2.0	2,121 (+3%)	4mo	$265,000	$125	74
192 York St	0.14mi	3/2.5 (-1)	1,884 (-8%)	1mo	$285,000	$151	72
147 Mariner St	0.44mi	4/3.0	2,098 (+2%)	4mo	$365,000	$174	69
132 Ashland Ave	0.40mi	4/2.0	2,002 (-3%)	12mo	$293,200	$146	67
411 Summer St	0.09mi	4/2.0	2,308 (+12%)	12mo	$357,500	$155	66
651 Prospect Ave	0.42mi	5/2.0 (+1)	2,026 (-2%)	9mo	$278,500	$137	65
291 West Ave	0.29mi	5/2.0 (+1)	2,140 (+4%)	12mo	$325,500	$152	65
729 Prospect Ave	0.52mi	5/3.0 (+1)	2,049 (-0%)	12mo	$330,000	$161	56
298 Massachusetts Ave	0.55mi	5/2.0 (+1)	2,221 (+8%)	1mo	$220,000	$99	56
125 Whitney Pl	0.74mi	4/3.0	1,976 (-4%)	6mo	$310,000	$157	49
23 Sherwood St	0.70mi	3/2.0 (-1)	1,830 (-11%)	4mo	$150,000	$82	41

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

Projected returns pro-forma

7.51% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 45.3%
• Equity multiple: 4.02×
• Total profit: $147,804
• Equity at exit: $127,185

10-year hold

• IRR: 39.8%
• Equity multiple: 8.03×
• Total profit: $344,634
• Equity at exit: $247,151

Cash invested: $49,000 (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 14213

• Home prices YoY: 1.7%
• Rents YoY: -0.5%
• Active inventory: 137
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $3,150 high
• Mortgage (P&I): −$918
• Tax from tax record: −$78 /mo · $941/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$662
• Net cashflow: $1,419

Break-even live

Break-even rent $1,353

Max offer price $175,000

Occupancy floor 50%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,150
Total (2 units)			$3,150

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
184 14th St Buffalo, NY	4.0	2.0	1950	$4,400	$2.26	24d	1	0.10mi
124 Normal Ave Unit 2 Buffalo, NY	3.0	1.0	1727	$2,000	$1.16	24d	1	0.10mi
161 16th St Buffalo, NY	3.0	1.5	1500	$2,000	$1.33	24d	1	0.25mi
501 West Ave Buffalo, NY	3.0	1.0	2552	$1,850	$0.72	20d	1	0.29mi
501 West Ave Buffalo, NY	3.0	1.0	2552	$1,700	$0.67	14d	1	0.29mi
330 Bryant St Buffalo, NY	3.0	2.0	2224	$2,200	$0.99	20d	1	0.39mi
550 Busti Ave Unit 2 Buffalo, NY	3.0	1.0	1638	$1,500	$0.92	44d	1	0.61mi
405 W Ferry St Unit Lower Buffalo, NY	3.0	1.0	2480	$1,500	$0.60	44d	1	0.71mi
11 Hoyt St Buffalo, NY	4.0	1.0	2848	$1,775	$0.62	14d	1	0.75mi
83 Baynes St Unit Lower Buffalo, NY	3.0	1.0	2550	$1,850	$0.73	14d	1	0.88mi
40 Putnam St Buffalo, NY	4.0	1.0	1600	$2,100	$1.31	24d	1	0.90mi
740 Elmwood Ave Buffalo, NY	3.0	1.0	2000	$1,995	$1.00	14d	1	0.93mi
836 Richmond Ave Buffalo, NY	4.0	3.5	1982	$4,500	$2.27	44d	1	1.47mi

Listing history 8 events

1. 2026-06-18
   days on market $175,000 Active 9 DOM
2. 2026-06-17
   days on market $175,000 Active 8 DOM
3. 2026-06-16
   days on market $175,000 Active 7 DOM
4. 2026-06-15
   days on market $175,000 Active 6 DOM
5. 2026-06-13
   days on market $175,000 Active 4 DOM
6. 2026-06-13
   days on market $175,000 Active 3 DOM
7. 2026-06-10
   remarks 525-char remark
8. 2026-06-10
   listed $175,000 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: $941 · $78/mo
• Projected year-2 tax: $1,949 · $162/mo
• Expected delta: +$1,008/yr (+$84/mo · 107.1%)

ⓘ 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 ≥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: $37,800
• − Mortgage interest: −$9,803
• − Property taxes: −$941
• − Insurance: −$875
• − Repairs & maintenance: −$3,024
• − Management: −$3,024
• − Depreciation: −$5,091
• Taxable income: $15,042
• Est. tax owed @ 24.0%: −$3,610
• After-tax cash flow: $13,423/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): 24,107
• Household income: $53,870
• Rent vs Own: 60.5% rent · 39.5% own
• Severe rent burden: 1501.0

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 0.70)
• Race & ethnicity: White 46% Hispanic / Latino 20% Black 18% Asian 12% Two or more races 10%
• Hispanic origin (detail): Mexican 1% Puerto Rican 16% Dominican 1%
• Common ancestry: Romanian 6% Slovak 3% Lithuanian 3%
• Foreign-born: 16% · Philippines, Canada, India
• Languages at home: 68% English-only · Spanish 12% Other Asian/Pacific 7% Arabic 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: ▲ 7.51%
• Current HPI: 448.4879
• Rent YoY: ▼ -0.49%
• 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

+929.4% since first listed

5 events — show timeline

• 2026-06-08 Listed $175,000 WNYREIS
• 2020-01-31 Listing Removed — WNYREIS
• 2019-07-31 Listed $125,000 WNYREIS
• 2012-01-31 Sold (Public Records) $22,500 Public Records
• 2007-10-03 Sold (Public Records) $17,000 Public Records

Property tax history

+21.7%/yr

Latest (2025): $941 · -1.2% YoY. Source: county tax records.