42 Edgewood Ave · Buffalo, NY 14220

$249,900

6 bd · 2.0 ba · 2,716 sqft · MultiFamily public records · 1 Days on market

Built 1928 3,623 sqft lot Est $261k · at est.

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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 +29.9/30.0
• DSCR +10.0/10.0
• ARV discount +9.4/15.0
• 1% rule +7.2/10.0
• Rent growth +4.4/5.0
• 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: 2 units. confirmed

Listing remarks

Welcome to 42 Edgewood Avenue, a well-maintained two-family home in South Buffalo offering approximately 2,716 square feet of living space. Recent exterior updates include a newer roof, updated windows, siding improvements, and fresh exterior paint. Conveniently located near schools, parks, shopping, restaurants, banking, public transportation, and major commuter routes. Whether you’re seeking an owner-occupied opportunity or an investment property, this home offers space, convenience, and value in a desirable neighborhood.

Key facts

• Siding improvements
• Newer roof
• Updated windows

Tags

• NEWER ROOF
• UPDATED WINDOWS
• SIDING IMPROVEMENTS
• FRESH EXTERIOR PAINT
• CONVENIENTLY LOCATED
• DESIRABLE NEIGHBORHOOD

Property features AI

Finance

• Financial info: Owner pays water; Rent includes water; Operating expenses include water; One unit reported with $1,000 monthly rent (second unit rent listed as 0/unspecified)

Exterior

• Parking: 2-car garage; Two or more parking spaces
• Utilities: Public water connected; Sewer connected; Electric with circuit breakers
• Home design: Two-story multifamily property; Existing (resale) condition
• Construction: Aluminum and vinyl siding; Copper plumbing; Shingle roof
• Exterior features: Fully fenced yard; Rectangular residential lot; City street frontage; Lot dimensions approximately 34 x 105

Interior

• Kitchen: Eat-in kitchens; Gas water heater
• Bedrooms: Two 3-bedroom units
• Flooring: Ceramic tile; Hardwood; Vinyl; Varied flooring
• Bathrooms: Each unit has 1 full bathroom (two full bathrooms total)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Den/Family room; Eat-in kitchen; Other interior features noted in remarks
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $928 ($11k/yr) — positive. Per door: $464/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Cap rate 10.7% 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 (+7.6%/yr); 136 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,058/mo this rent would consume 52% of the median local household income ($71k/yr) (locally 602% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.6% rent growth), your $70k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $249,900

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 1928 — 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: 1.22% ✓
• Cap rate: 10.75%
• Cash-on-cash: 15.91%
• DSCR: 1.71
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $260,736
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
276 Choate Ave	0.23mi	6/2.0	2,608 (-4%)	4mo	$195,000	$75	79
97 Red Jacket Pkwy	0.35mi	6/2.0	2,588 (-5%)	1mo	$220,000	$85	75
75 Harding Rd	0.56mi	6/2.0	2,703 (-0%)	0mo	$305,000	$113	72
155 Altruria St	0.56mi	6/2.0	2,720 (+0%)	2mo	$169,900	$62	72
33 Harding Rd	0.59mi	6/2.0	2,670 (-2%)	5mo	$329,000	$123	65
85 Geary St	0.69mi	6/2.0	2,780 (+2%)	2mo	$267,500	$96	62
54 Remoleno St	0.65mi	5/2.0 (-1)	2,796 (+3%)	2mo	$300,000	$107	58
32 Magnolia Ave	0.37mi	6/2.0	2,376 (-12%)	5mo	$225,000	$95	58
74 Houston St	0.72mi	5/3.0 (-1)	2,712 (-0%)	3mo	$148,000	$55	55
389 Cumberland Ave	0.29mi	5/2.0 (-1)	2,328 (-14%)	5mo	$280,000	$120	53
896 Abbott Rd	0.71mi	6/2.0	2,966 (+9%)	3mo	$310,000	$105	49
26 Kamper Ave	0.69mi	6/2.0	2,394 (-12%)	3mo	$179,000	$75	46

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 · 7.62% rent growth · sell at horizon

5-year hold

• IRR: 11.5%
• Equity multiple: 1.48×
• Total profit: $33,386
• Equity at exit: $37,261

10-year hold

• IRR: 23.6%
• Equity multiple: 3.46×
• Total profit: $171,938
• Equity at exit: $21,607

Cash invested: $69,972 (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 14220

• Home prices YoY: -26.7%
• Rents YoY: 7.6%
• Active inventory: 136
• Price-to-rent: 13.6×

Monthly cashflow live

• Estimated rent: $3,058 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$73 /mo · $878/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$642
• Net cashflow: $928

Break-even live

Break-even rent $1,883

Max offer price $249,900

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,058
Total (2 units)			$3,058

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-17
   remarks 529-char remark
2. 2026-06-17
   listed $249,900 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: $878 · $73/mo
• Projected year-2 tax: $2,551 · $213/mo
• Expected delta: +$1,672/yr (+$139/mo · 190.4%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 16% 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 4/10 Moderate 3 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,696
• − Mortgage interest: −$13,998
• − Property taxes: −$878
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,936
• − Management: −$2,936
• − Depreciation: −$7,270
• Taxable income: $7,429
• Est. tax owed @ 24.0%: −$1,783
• After-tax cash flow: $9,353/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): 24,428
• Household income: $70,963
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 602.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 6% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 10% Cuban 1%
• Common ancestry: Romanian 16% Lithuanian 1% Subsaharan African 1%
• Foreign-born: 4% · Canada, Jamaica, China
• Languages at home: 90% English-only · 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: ▼ -146.29%
• Current HPI: 402.5053
• Rent YoY: ▲ 7.62%
• 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

1 event — show timeline

• 2026-06-17 Listed $249,900 WNYREIS

Property tax history

+8.4%/yr

Latest (2025): $878 · +39.9% YoY. Source: county tax records.