208 Loring Ave · Buffalo, NY 14214

$99,900

7 bd · 2.0 ba · 2,736 sqft · MultiFamily public records · 4 Days on market

Built 1912 3,745 sqft lot $37/sqft · 76% below area

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Why this score? — see what drove the B 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• 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 208 Loring Ave in the Hamlin Park district, an exceptional value-add opportunity for investors! This spacious two-unit property spans just under 2,800 square feet and boasts strong bones and a charming character. With high ceilings and original woodwork throughout, this property has the potential to be restored and drive significant equity. The lower unit features 3 bedrooms while the upper has 4, providing a desirable layout for rental income. The upper unit includes additional finished attic space not reflected in the square footage, creating potential for increased rents or added living space. The property requires a full renovation and is being sold as-is, making it ideal for

Key facts

• Finished attic space
• Full renovation
• High ceilings

Tags

• HIGH CEILINGS
• ORIGINAL WOODWORK
• FINISHED ATTIC SPACE
• FULL RENOVATION
• SOLID LOCATION

Property features AI

Finance

• Other: Rectangular residential lot on a city street (approx. 35 x 107)
• Financial info: 2-unit property with separate gas and electric meters for each unit; Operating expenses may include manager, maintenance, professional management, rent collection, utilities, and water/sewer

Exterior

• Parking: Attached garage (1 car); Concrete driveway/parking
• Utilities: Public water connected; Sewer connected
• Home design: 3-story multi-family building; Resale fixer condition
• Construction: Aluminum siding; Asphalt roof; Full basement
• Exterior features: Balcony; Porch

Interior

• Kitchen: Oven/Range; Refrigerator
• Bedrooms: One unit with 4 bedrooms; One unit with 3 bedrooms
• Flooring: Carpet; Hardwood; Laminate; Tile; Varied flooring throughout
• Bathrooms: Two full bathrooms total (each unit has 1 full bath)
• Heating & cooling: Gas heating; Zoned heating; Radiant heating; Zoned cooling
• Interior features: Attic; Natural woodwork
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 7-bed/2.0-bath multifamily listed at $100k.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $100k).
• Cap rate 35.2% 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 (+5.8%/yr); 90 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,834/mo this rent would consume 79% of the median local household income ($58k/yr) (locally 1820% 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 $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,900

Questions for the listing agent

1. Built in 1912 — 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: 3.84% ✓
• Cap rate: 35.24%
• Cash-on-cash: 103.38%
• DSCR: 5.60
• GRM: 2.2

CMA / ARV

• ARV (median comp): $407,960
• List price: $99,900
• Delta: -75.51%
• 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
84 Monticello Pl	0.08mi	6/2.0 (-1)	2,591 (-5%)	0mo	$145,000	$56	82
267 Humboldt Pkwy	0.11mi	6/2.0 (-1)	2,833 (+4%)	10mo	$260,000	$92	76
73 Monticello Pl	0.05mi	6/2.0 (-1)	2,424 (-11%)	3mo	$160,000	$66	71
56 Eastwood Pl	0.22mi	6/2.0 (-1)	2,487 (-9%)	4mo	$250,000	$101	67
362 Northland Ave	0.47mi	6/2.0 (-1)	2,723 (-0%)	8mo	$216,000	$79	66
125 Butler Ave	0.71mi	6/2.0 (-1)	2,762 (+1%)	4mo	$145,000	$52	56
148 Northland Ave	0.61mi	6/2.0 (-1)	2,670 (-2%)	10mo	$220,000	$82	54
2002 Fillmore Ave	0.38mi	6/2.0 (-1)	2,390 (-13%)	4mo	$206,500	$86	53
26 Pleasant Pl	0.41mi	6/2.0 (-1)	2,346 (-14%)	3mo	$162,000	$69	50
55 Beverly Rd	0.45mi	6/2.0 (-1)	2,402 (-12%)	9mo	$285,000	$119	46
21 Butler Ave	0.75mi	6/2.0 (-1)	2,998 (+10%)	1mo	$215,000	$72	43
192 Goulding Ave	0.74mi	6/2.0 (-1)	2,476 (-10%)	2mo	$220,000	$89	43

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 · 5.81% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.31×
• Total profit: $148,444
• Equity at exit: $14,895

10-year hold

• IRR: —
• Equity multiple: 14.42×
• Total profit: $375,389
• Equity at exit: $8,638

Cash invested: $27,972 (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 14214

• Rents YoY: 5.8%
• Active inventory: 90
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $3,834 high
• Mortgage (P&I): −$524
• Tax from tax record: −$54 /mo · $644/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$805
• Net cashflow: $2,410

Break-even live

Break-even rent $784

Max offer price $99,900

Occupancy floor 32%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,880
1× unit	4	1	$1,953
Total (2 units)			$3,834

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-08
   status Pending 979-char remark
2. 2026-05-04
   listed $99,900 Active 979-char remark

ⓘ 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: $644 · $54/mo
• Projected year-2 tax: $1,166 · $97/mo
• Expected delta: +$522/yr (+$44/mo · 81.1%)

ⓘ 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 ≥93°F today · 15 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: $46,008
• − Mortgage interest: −$5,596
• − Property taxes: −$644
• − Insurance: −$500
• − Repairs & maintenance: −$3,681
• − Management: −$3,681
• − Depreciation: −$2,906
• Taxable income: $29,001
• Est. tax owed @ 24.0%: −$6,960
• After-tax cash flow: $21,956/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): 21,314
• Household income: $58,228
• Rent vs Own: 57.7% rent · 42.3% own
• Severe rent burden: 1820.0

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 0.67)
• Race & ethnicity: White 47% Black 31% Asian 11% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 5% Lithuanian 2% Scotch-Irish 1%
• Foreign-born: 14% · Canada, China
• Languages at home: 81% English-only · Other Indo-European 7% Spanish 4% Other Asian/Pacific 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: ▼ -282.52%
• Current HPI: 373.377
• Rent YoY: ▲ 5.81%
• 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

2 events — show timeline

• 2026-05-08 Pending — WNYREIS
• 2026-05-04 Listed $99,900 WNYREIS

Property tax history

+20.6%/yr

Latest (2025): $644 · +463.2% YoY. Source: county tax records.