495 E Ferry St Unit S · Buffalo, NY 14208

$125,500

6 bd · 2.0 ba · 2,444 sqft · Townhouse public records · 9 Days on market

Built 1910 3,180 sqft lot Est $247k · 49% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

495 E Ferry, Buffalo, NY 14208, offers a great investment opportunity with this * * 3/3 double * * featuring a * * full basement * * and * * attic space * * . This multifamily property has solid potential for renovation and value-add improvements. In need of repair, it’s ideal for investors, rehabbers, or buyers looking to restore and customize a property to their vision. Conveniently located in Buffalo, this property offers an opportunity to unlock upside with strong income potential.

Key facts

• Attic space
• Multifamily property
• Full basement

Tags

• FULL BASEMENT
• ATTIC SPACE
• MULTIFAMILY PROPERTY

Property features AI

Finance

• Other: Lot dimensions approximately 29 x 107 feet
• Financial info: Tenant(s) pay all utilities; Operating expense details: see remarks

Exterior

• Parking: Detached garage with 2 parking spaces; Additional parking available
• Utilities: Water connected (public); Sewer connected; Power: separate electric meters (2); single gas meter
• Home design: Two-story multi-family building; Residential 2-unit zoning; Resale property
• Construction: Wood siding construction
• Exterior features: Rectangular residential lot; Near public transit; City street frontage

Interior

• Kitchen: Eat-in kitchen in each unit
• Bedrooms: Two 3-bedroom units (each unit described as having 3 bedrooms)
• Flooring: Carpet; Hardwood; Mixed/varies
• Bathrooms: Three full bathrooms total; One unit has 1 full bathroom; the other unit has 2 full bathrooms
• Heating & cooling: Gas heating with forced air
• Interior features: Full basement; Carpet and hardwood flooring; varies by room; Gas water heater
• Laundry & utility: Separate electric meters for units (2); Single shared gas meter

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath townhouse listed at $126k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $126k).
• Cap rate 16.8% 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: 54 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,337/mo this rent would consume 58% of the median local household income ($48k/yr) (locally 723% 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 $868 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,500

Questions for the listing agent

1. Built in 1910 — 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.86% ✓
• Cap rate: 16.82%
• Cash-on-cash: 37.60%
• DSCR: 2.67
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $246,844
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
475 Woodlawn Ave	0.09mi	6/2.0	2,548 (+4%)	21mo	$111,000	$44	72
67 Urban St	0.60mi	6/2.0	2,438 (-0%)	5mo	$275,000	$113	67
251 Florida St	0.43mi	6/2.0	2,353 (-4%)	15mo	$90,000	$38	62
175 Timon St	0.68mi	6/2.0	2,381 (-3%)	5mo	$240,000	$101	60

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 33.6%
• Equity multiple: 2.42×
• Total profit: $49,751
• Equity at exit: $18,712

10-year hold

• IRR: 40.5%
• Equity multiple: 4.80×
• Total profit: $133,460
• Equity at exit: $10,851

Cash invested: $35,140 (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 14208

• Home prices YoY: -3.4%
• Active inventory: 54
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,337 medium
• Mortgage (P&I): −$658
• Tax from tax record: −$35 /mo · $415/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $1,101

Break-even live

Break-even rent $943

Max offer price $125,500

Occupancy floor 48%

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: $31,375
• Closing costs: $3,765
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15 Hughes Ave Buffalo, NY	7.0	2.0	1650	$3,000	$1.82	43d	1	0.75mi
518 Wilson St Buffalo, NY	5.0	1.5	1848	$1,500	$0.81	23d	1	1.12mi

Listing history 8 events

1. 2026-06-18
   days on market $125,500 Active 9 DOM
2. 2026-06-17
   days on market $125,500 Active 8 DOM
3. 2026-06-16
   days on market $125,500 Active 7 DOM
4. 2026-06-15
   days on market $125,500 Active 6 DOM
5. 2026-06-13
   days on market $125,500 Active 4 DOM
6. 2026-06-13
   days on market $125,500 Active 3 DOM
7. 2026-06-10
   remarks 501-char remark
8. 2026-06-10
   listed $125,500 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: $415 · $35/mo
• Projected year-2 tax: $1,268 · $106/mo
• Expected delta: +$853/yr (+$71/mo · 205.3%)

ⓘ 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: $28,042
• − Mortgage interest: −$7,030
• − Property taxes: −$415
• − Insurance: −$628
• − Repairs & maintenance: −$2,243
• − Management: −$2,243
• − Depreciation: −$3,651
• Taxable income: $11,832
• Est. tax owed @ 24.0%: −$2,840
• After-tax cash flow: $10,373/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): 12,572
• Household income: $48,476
• Rent vs Own: 46.2% rent · 53.8% own
• Severe rent burden: 723.0

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 (72%)
• Race & ethnicity: Black 72% White 15% Asian 6% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 2% Italian 1% Hispanic 0%
• Foreign-born: 7% · Canada, South Korea, Philippines
• Languages at home: 89% English-only · Other Indo-European 3% Spanish 2% French/Haitian/Cajun 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: ▼ -16.37%
• Current HPI: 459.2084
• Rent YoY: —
• 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

• 2026-06-08 Listed $125,500 WNYREIS

Property tax history

+10.5%/yr

Latest (2025): $415 · +102.8% YoY. Source: county tax records.