39 Seminole Pkwy · Buffalo, NY 14210

$214,900

6 bd · 2.0 ba · 2,500 sqft · MultiFamily public records · 1 Days on market

Built 1920 3,150 sqft lot Est $252k · 15% 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 +14.2/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.2/10.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

Exceptional opportunity in the heart of South Buffalo on Seminole Parkway! This well-maintained two-family property offers the perfect combination of owner occupancy and investment potential. The first-floor unit has been beautifully renovated and features updates throughout, making it move-in ready for a new owner or tenant. The second-floor unit is tenant occupied, providing immediate rental income from day one. Whether you're looking to expand your investment portfolio or offset your mortgage with rental revenue, this property delivers flexibility and value. Situated on one of South Buffalo's most desirable parkways, you'll enjoy easy access to local shops, restaurants, parks, schools, a

Key facts

• Strong rental demand
• Second-floor unit
• First-floor unit

Tags

• TWO-FAMILY PROPERTY
• FIRST-FLOOR UNIT
• SECOND-FLOOR UNIT
• RENTAL INCOME
• PRIME LOCATION
• STRONG RENTAL DEMAND

Property features AI

Finance

• Other: Two total units; Two units in community
• Financial info: Owner pays water; Rent includes water; Operating expenses include water/sewer

Exterior

• Parking: Attached garage with 2 spaces; Concrete parking surface
• Utilities: Public water connected; Sewer connected
• Home design: 2 stories; Existing structure (resale)
• Construction: Aluminum siding; Wood siding; Slab foundation
• Exterior features: Rectangular residential lot; Near public transit; City street frontage

Interior

• Kitchen: No specific kitchen appliance list provided
• Bedrooms: 2-unit property (unit counts listed under Multi Unit Information)
• Flooring: Carpet; Vinyl; Varied flooring
• Bathrooms: Two full bathrooms (total)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Two fireplaces; Gas water heater
• Laundry & utility: Separate gas meters for each unit; Separate electric meters for each unit

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $954 ($11k/yr) — positive. Per door: $477/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Cap rate 11.6% 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 (+12.7%/yr); 94 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,829/mo this rent would consume 63% of the median local household income ($54k/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 $23k of equity ($1k loan paydown + $21k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $60k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $120k; list at $215k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $214,900

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 1920 — 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: 1.32% ✓
• Cap rate: 11.62%
• Cash-on-cash: 19.03%
• DSCR: 1.85
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $252,500
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
42 Mineral Spring Rd	0.02mi	6/2.0	2,278 (-9%)	0mo	$300,000	$132	84
75 Juniata Pl	0.32mi	6/2.0	2,544 (+2%)	2mo	$245,000	$96	81
18 Sage Ave	0.27mi	6/2.0	2,578 (+3%)	4mo	$164,500	$64	79
96 Stevenson St	0.36mi	6/2.0	2,496 (-0%)	6mo	$272,096	$109	78
26 Kamper Ave	0.29mi	6/2.0	2,394 (-4%)	3mo	$179,000	$75	77
110 Armin Pl	0.19mi	5/2.0 (-1)	2,366 (-5%)	1mo	$235,000	$99	76
85 Geary St	0.22mi	6/2.0	2,780 (+11%)	2mo	$267,500	$96	69
389 Cumberland Ave	0.59mi	5/2.0 (-1)	2,328 (-7%)	5mo	$280,000	$120	52
181 Willett St	0.72mi	6/2.0	2,704 (+8%)	2mo	$301,000	$111	51
35 Kimmel Ave	0.69mi	6/2.0	2,218 (-11%)	2mo	$225,000	$101	47
71 Buffum St	0.55mi	5/2.0 (-1)	2,136 (-15%)	6mo	$160,000	$75	40
54 Remoleno St	0.74mi	5/2.0 (-1)	2,796 (+12%)	2mo	$300,000	$107	39

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

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 40.9%
• Equity multiple: 4.20×
• Total profit: $192,687
• Equity at exit: $193,599

10-year hold

• IRR: 37.1%
• Equity multiple: 10.25×
• Total profit: $556,508
• Equity at exit: $417,503

Cash invested: $60,172 (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 14210

• Home prices YoY: 13.8%
• Rents YoY: 12.7%
• Active inventory: 94
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $2,829 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$64 /mo · $769/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$594
• Net cashflow: $954

Break-even live

Break-even rent $1,621

Max offer price $214,900

Occupancy floor 61%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,830
Total (2 units)			$2,829

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-17
   remarks 699-char remark
2. 2026-06-17
   listed $214,900 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: $769 · $64/mo
• Projected year-2 tax: $2,201 · $183/mo
• Expected delta: +$1,431/yr (+$119/mo · 186.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°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: $33,948
• − Mortgage interest: −$12,038
• − Property taxes: −$769
• − Insurance: −$1,074
• − Repairs & maintenance: −$2,716
• − Management: −$2,716
• − Depreciation: −$6,252
• Taxable income: $8,383
• Est. tax owed @ 24.0%: −$2,012
• After-tax cash flow: $9,440/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): 15,563
• Household income: $54,197
• Rent vs Own: 53.9% rent · 46.1% 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: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 8% Black 8% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 21% Lithuanian 2% Serbian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 95% English-only · Spanish 2% Arabic 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: ▲ 52.34%
• Current HPI: 431.7951
• Rent YoY: ▲ 12.67%
• 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

+974.5% since first listed

5 events — show timeline

• 2026-06-17 Listed $214,900 WNYREIS
• 2019-09-25 Sold (Public Records) $120,000 Public Records
• 2017-06-20 Sold (Public Records) $78,500 Public Records
• 2016-05-20 Sold (Public Records) $47,000 Public Records
• 2006-01-13 Sold (Public Records) $20,000 Public Records

Property tax history

+8.2%/yr

Latest (2025): $769 · +65.4% YoY. Source: county tax records.