60 Arden Ave · Buffalo, NY 14215

$159,000

4 bd · 2.0 ba · 1,822 sqft · MultiFamily public records · 11 Days on market

Built 1939 4,200 sqft lot Est $182k · 13% under

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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
• ARV discount +13.2/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.7/5.0
• 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: 2 units. confirmed

Listing remarks

VR Pricing: The seller will entertain offers between $159,000 and $180,000. This classic Buffalo two-family home showcases the timeless character and craftsmanship the city is known for, thoughtfully enhanced with modern updates. A welcoming entry features original penny tile, immediately reflecting the home’s historic charm. Both units offer hardwood flooring throughout and striking aesthetic stone fireplaces that serve as focal points of the living spaces. Recent improvements include updated bathrooms in both units with new tile flooring and tub surrounds, providing a clean, refreshed look. The kitchens feature durable vinyl plank flooring, and the lower unit kitchen has been furt

Key facts

• Hardwood flooring
• Stone fireplaces
• Updated bathrooms

Tags

• ORIGINAL PENNY TILE
• HARDWOOD FLOORING
• STONE FIREPLACES
• UPDATED BATHROOMS
• VINYL PLANK FLOORING
• NEW CABINETRY

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $159k.

Deal economics

• At list price, monthly cash flow is $932 ($11k/yr) — positive. Per door: $466/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Cap rate 13.3% 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 flat; 237 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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).
• At $2,353/mo this rent would consume 63% of the median local household income ($45k/yr) (locally 2873% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $45k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $80k; list at $159k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,000

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 1939 — 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: 1.48% ✓
• Cap rate: 13.32%
• Cash-on-cash: 25.11%
• DSCR: 2.12
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $182,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17 Proctor Ave	0.08mi	4/2.0	1,756 (-4%)	8mo	$175,000	$100	84
73 Easton Ave	0.09mi	4/2.0	1,950 (+7%)	8mo	$206,000	$106	77
358 Newburgh Ave	0.18mi	5/2.0 (+1)	1,959 (+8%)	2mo	$165,000	$84	72
274 Newburgh Ave	0.30mi	5/2.0 (+1)	1,754 (-4%)	4mo	$185,000	$105	72
63 Wright Ave	0.61mi	4/2.0	1,842 (+1%)	2mo	$120,000	$65	68
124 Newburgh Ave	0.57mi	4/2.0	1,750 (-4%)	7mo	$95,000	$54	62
32 Courtland Ave	0.47mi	4/2.0	2,011 (+10%)	4mo	$220,000	$109	57
73 Oakmont Ave	0.42mi	4/2.0	1,616 (-11%)	6mo	$215,000	$133	56
109 Newburgh Ave	0.60mi	4/2.0	1,970 (+8%)	7mo	$140,000	$71	52
68 Marne Rd	0.74mi	4/2.0	1,906 (+5%)	8mo	$165,000	$87	51
475 Norfolk Ave	0.41mi	4/2.0	2,068 (+14%)	8mo	$105,000	$51	51
144 Ivanhoe Rd	0.69mi	5/2.0 (+1)	2,030 (+11%)	6mo	$210,000	$103	39

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 · 0.67% rent growth · sell at horizon

5-year hold

• IRR: 16.1%
• Equity multiple: 1.63×
• Total profit: $28,116
• Equity at exit: $23,707

10-year hold

• IRR: 23.1%
• Equity multiple: 2.79×
• Total profit: $79,498
• Equity at exit: $13,747

Cash invested: $44,520 (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 14215

• Home prices YoY: -30.0%
• Rents YoY: 0.7%
• Active inventory: 237
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $2,353 high
• Mortgage (P&I): −$834
• Tax from tax record: −$27 /mo · $325/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $932

Break-even live

Break-even rent $1,174

Max offer price $159,000

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,352
Total (2 units)			$2,353

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25 Parkridge Ave Buffalo, NY	3.0	1.0	1914	$1,350	$0.71	14d	1	0.84mi
65 Domedion Ave Buffalo, NY	3.0	1.0	1632	$1,500	$0.92	2d	1	0.88mi
517 Goodyear Ave Buffalo, NY	3.0	1.0	1559	$1,800	$1.15	19d	1	1.22mi
96 Academy Rd Buffalo, NY	3.0	1.0	2247	$1,400	$0.62	24d	1	1.22mi
979 Walden Ave Buffalo, NY	4.0	3.0	1793	$2,000	$1.12	2d	1	1.46mi
263 Minnesota Ave Unit Upper Buffalo, NY	3.0	1.0	1242	$1,500	$1.21	14d	1	1.46mi

Listing history 6 events

1. 2026-03-24
   status Pending
2. 2026-03-24
   status Active
3. 2026-01-16
   listed $159,000 Active
4. 2021-05-10
   soldstatus $80,000
5. 2021-04-01
   soldstatus $32,000
6. 2007-10-18
   soldstatus $28,500

ⓘ 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: $325 · $27/mo
• Projected year-2 tax: $1,506 · $126/mo
• Expected delta: +$1,181/yr (+$98/mo · 363.3%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $28,236
• − Mortgage interest: −$8,906
• − Property taxes: −$325
• − Insurance: −$795
• − Repairs & maintenance: −$2,259
• − Management: −$2,259
• − Depreciation: −$4,625
• Taxable income: $9,066
• Est. tax owed @ 24.0%: −$2,176
• After-tax cash flow: $9,005/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): 42,524
• Household income: $44,955
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 2873.0

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 Black (67%)
• Race & ethnicity: Black 67% White 15% Asian 7% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada, China
• Languages at home: 88% English-only · Other Indo-European 4% Spanish 4% Chinese 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: ▼ -126.29%
• Current HPI: 295.2966
• Rent YoY: ▲ 0.67%
• 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

+457.9% since first listed

6 events — show timeline

• 2026-03-24 Pending — WNYREIS
• 2026-03-24 Relisted — WNYREIS
• 2026-01-16 Listed $159,000 WNYREIS
• 2021-05-10 Sold (Public Records) $80,000 Public Records
• 2021-04-01 Sold (Public Records) $32,000 Public Records
• 2007-10-18 Sold (Public Records) $28,500 Public Records

Property tax history

+0.6%/yr

Latest (2025): $325 · +0.0% YoY. Source: county tax records.