771 Amherst St · Buffalo, NY 14216

$364,900

6 bd · 2.0 ba · 2,280 sqft · MultiFamily public records · 4 Days on market

Built 1919 4,690 sqft lot $160/sqft · 19% below area Est $450k · 19% under

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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 +18.8/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• Livability +3.9/5.0
• 1% rule +3.7/10.0
• Rent growth +3.4/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Welcome to 771 Amherst Street. This spacious and turn key, North Buffalo double is ready for its new owner and has been meticulously cared for and improved. Each apartment features three generous bedrooms, renovated full bath, fully applianced eat-in kitchen, large dining and living room spaces and luxury vinyl flooring throughout. The upper apartment provides easy access to an inviting enclosed porch with multiple potential uses and a full attic for additional storage and living options. This unit was also recently renovated with brand new luxury vinyl flooring (2026), fresh neutral paint and a tastefully remodeled kitchen with corian counters, tile backsplash and stainless appliances. Cap

Key facts

• Updated furnaces
• Renovated full bath
• Enclosed porch

Tags

• ENCLOSED PORCH
• FULL ATTIC
• RENOVATED FULL BATH
• UPDATED FURNACES
• CENTRAL AIR
• NEWER ELECTRICAL

Property features AI

Finance

• Financial info: Two total units; Separate gas and electric meters for each unit; Operating expenses may include insurance, maintenance, snow removal, trash, and water/sewer
• HOA & community: Owner pays grounds care, snow removal, trash collection, water; Rent may include common area maintenance, gardener, snow removal, trash collection, water

Exterior

• Parking: Attached garage with 3 spaces; Paved parking available
• Utilities: Public water connected; Sewer connected; Electricity connected (circuit breakers); Cable available; High-speed internet available
• Home design: Two stories; Residential 2-unit zoning; Resale property
• Construction: Vinyl siding; Copper plumbing; Asphalt architectural shingle roof; Block foundation; Existing structure
• Exterior features: Enclosed porch; Open porch; Patio; Private yard; Partial fencing; Fence; See remarks

Interior

• Kitchen: Gas water heater
• Bedrooms: Two-unit property (unit-level bedroom details not provided)
• Flooring: Carpet; Luxury vinyl; Varies by area
• Bathrooms: Two full bathrooms (total)
• Heating & cooling: Gas heating with forced air; Central air conditioning
• Interior features: Natural woodwork; Thermal windows; Full basement
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $365k.

Deal economics

• At list price, monthly cash flow is $366 ($4k/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 $318k (12.8% below list).
• Recommended offer: $318k (12.8% 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 (+3.6%/yr); 91 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,181/mo this rent would consume 55% of the median local household income ($70k/yr) (locally 1831% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $250k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $318,100 (12.8% below list)

Questions for the listing agent

1. Built in 1919 — 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 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: 0.87% ✗
• Cap rate: 7.50%
• Cash-on-cash: 4.30%
• DSCR: 1.19
• GRM: 9.6

CMA / ARV

• ARV (median comp): $450,150
• List price: $364,900
• Delta: -18.94%
• 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
818 Amherst St	0.09mi	6/2.0	2,322 (+2%)	8mo	$300,000	$129	86
81 Elmhurst Pl	0.06mi	5/2.0 (-1)	2,156 (-5%)	10mo	$250,000	$116	75
263 Chandler St	0.37mi	5/2.0 (-1)	2,254 (-1%)	2mo	$195,000	$87	74
202 Grote St	0.46mi	6/2.0	2,200 (-4%)	5mo	$219,750	$100	68
43 Sunset St	0.73mi	6/2.0	2,271 (-0%)	1mo	$165,000	$73	64
75 Saint Florian St	0.65mi	6/2.0	2,338 (+2%)	10mo	$160,000	$68	58
41 Page St	0.75mi	5/2.0 (-1)	2,274 (-0%)	4mo	$230,000	$101	57
49 Fairchild Pl	0.71mi	6/2.0	2,136 (-6%)	8mo	$400,000	$187	50
532 Linden Ave	0.72mi	6/2.0	2,432 (+7%)	8mo	$413,400	$170	49
94 Germain St	0.70mi	6/2.0	2,142 (-6%)	10mo	$110,000	$51	49
20 Fairchild Pl	0.66mi	6/2.0	1,944 (-15%)	2mo	$380,000	$195	43
38 Reservation St	0.50mi	5/2.0 (-1)	1,955 (-14%)	12mo	$330,000	$169	38

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 · 3.65% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.67×
• Total profit: $-33,878
• Equity at exit: $54,408

10-year hold

• IRR: 1.2%
• Equity multiple: 1.08×
• Total profit: $8,519
• Equity at exit: $31,550

Cash invested: $102,172 (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 14216

• Rents YoY: 3.6%
• Active inventory: 91
• Price-to-rent: 19.1×

Monthly cashflow live

• Estimated rent: $3,181 high
• Mortgage (P&I): −$1,914
• Tax from tax record: −$81 /mo · $971/yr
• Insurance: −$152
• HOA: −$0
• Vacancy / Maint / Mgmt: −$668
• Net cashflow: $366

Break-even live

Break-even rent $2,717

Max offer price $364,900

Occupancy floor 83%

Sensitivity live

Price	-10% $573	-5% $470	+0% $366	+5% $263	+10% $160
Rent	-10% $115	-5% $241	+0% $366	+5% $492	+10% $618
Rate	-1.0pp $550	-0.5pp $459	base $366	+0.5pp $272	+1.0pp $176

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,182
Total (2 units)			$3,181

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: $91,225
• Closing costs: $10,947
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-05
   status Pending 1363-char remark
2. 2026-05-01
   listed $364,900 Active 1363-char remark
3. 2019-11-06
   soldstatus $250,000
4. 2007-10-31
   soldstatus $116,000
5. 2005-08-08
   soldstatus $82,000

ⓘ 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: $971 · $81/mo
• Projected year-2 tax: $3,569 · $297/mo
• Expected delta: +$2,598/yr (+$216/mo · 267.6%)

ⓘ 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: $38,172
• − Mortgage interest: −$20,440
• − Property taxes: −$971
• − Insurance: −$1,824
• − Repairs & maintenance: −$3,054
• − Management: −$3,054
• − Depreciation: −$10,615
• Taxable loss: −$1,786
• Est. tax savings @ 24.0%: +$429
• After-tax cash flow: $4,826/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): 22,849
• Household income: $69,629
• Rent vs Own: 54.4% rent · 45.6% own
• Severe rent burden: 1831.0

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 (72%)
• Race & ethnicity: White 72% Black 16% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 10% Iranian 2% Lithuanian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 90% English-only · Spanish 5% French/Haitian/Cajun 1% Other Indo-European 1%

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: ▼ -264.53%
• Current HPI: 421.1138
• Rent YoY: ▲ 3.65%
• 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

+345.0% since first listed

5 events — show timeline

• 2026-05-05 Pending — WNYREIS
• 2026-05-01 Listed $364,900 WNYREIS
• 2019-11-06 Sold (Public Records) $250,000 Public Records
• 2007-10-31 Sold (Public Records) $116,000 Public Records
• 2005-08-08 Sold (Public Records) $82,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $971 · -5.9% YoY. Source: county tax records.