239 Rodney Ave · Buffalo, NY 14214

$179,000

6 bd · 2.0 ba · 1,932 sqft · MultiFamily public records · 67 Days on market

Built 1910 3,450 sqft lot $93/sqft · 29% below area Est $252k · 29% 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
• 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 MLS

Spacious multi-family home located at 239 Rodney Ave featuring units that each have one large living rooms, one formal dining rooms, and well-sized kitchens. and attic has a big bedroom. This property offers generous living space throughout, making it ideal for both investors and owner-occupants. Conveniently located near local amenities, schools, and transportation, providing comfort and accessibility for everyday living. Square footage differs from tax records, please see the attached floor plan.

Key facts

• Well-sized kitchens
• Formal dining rooms
• Big bedroom

Tags

• MULTI-FAMILY HOME
• LARGE LIVING ROOMS
• FORMAL DINING ROOMS
• WELL-SIZED KITCHENS
• BIG BEDROOM
• GENEROUS LIVING SPACE

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $179k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $179k).
• Recommended offer: $168k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.6% 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 (+5.8%/yr); 92 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,125/mo this rent would consume 64% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $50k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago 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 $26k; list at $179k implies a 602% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $168,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.75% ✓
• Cap rate: 14.55%
• Cash-on-cash: 29.49%
• DSCR: 2.31
• GRM: 4.8

CMA / ARV

• ARV (median comp): $251,817
• List price: $179,000
• Delta: -28.92%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
92 Wakefield Ave	0.15mi	6/2.0	2,046 (+6%)	8mo	$190,000	$93	77
168 Rodney Ave	0.13mi	6/2.0	2,199 (+14%)	7mo	$175,000	$80	65
258 Leroy Ave	0.24mi	6/2.0	2,200 (+14%)	6mo	$220,000	$100	61
114 Manhattan Ave	0.25mi	5/2.0 (-1)	2,052 (+6%)	16mo	$158,000	$77	60
2042 Fillmore Ave	0.55mi	6/2.0	1,826 (-6%)	8mo	$220,000	$120	58
130 Greenfield St	0.61mi	6/2.0	1,672 (-14%)	8mo	$310,960	$186	42
96 Sussex St	0.71mi	5/2.0 (-1)	2,152 (+11%)	4mo	$255,000	$118	40
19 Dunlop Ave	0.70mi	5/2.0 (-1)	2,160 (+12%)	6mo	$160,000	$74	38
5 Dunlop Ave	0.68mi	6/2.0	2,212 (+14%)	19mo	$330,000	$149	28

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: 27.1%
• Equity multiple: 2.17×
• Total profit: $58,572
• Equity at exit: $26,689

10-year hold

• IRR: 36.3%
• Equity multiple: 4.82×
• Total profit: $191,695
• Equity at exit: $15,477

Cash invested: $50,120 (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: 92
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $3,125 high
• Mortgage (P&I): −$939
• Tax est. 1.5%: −$224 /mo · $2,685/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$656
• Net cashflow: $1,232

Break-even live

Break-even rent $1,566

Max offer price $179,000

Occupancy floor 56%

Sensitivity live

Price	-10% $1,355	-5% $1,294	+0% $1,232	+5% $1,170	+10% $1,108
Rent	-10% $985	-5% $1,108	+0% $1,232	+5% $1,355	+10% $1,479
Rate	-1.0pp $1,322	-0.5pp $1,277	base $1,232	+0.5pp $1,185	+1.0pp $1,138

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
145 Minnesota Ave Buffalo, NY	7.0	2.0	2551	$4,900	$1.92	15d	1	0.86mi
175 Lisbon Ave Buffalo, NY	5.0	2.0	2000	$2,500	$1.25	15d	1	0.96mi
85 Highgate Ave Buffalo, NY	5.0	2.0	2193	$3,750	$1.71	15d	1	0.98mi
24 Custer St Buffalo, NY	5.0	2.0	2500	$3,000	$1.20	15d	1	1.00mi
65 Northrup Pl Buffalo, NY	5.0	2.0	1467	$2,500	$1.70	15d	1	1.05mi
133 Merrimac St Buffalo, NY	7.0	2.0	2327	$4,450	$1.91	15d	1	1.25mi
15 Hughes Ave Buffalo, NY	7.0	2.0	1650	$3,000	$1.82	44d	1	1.31mi
196 Englewood Ave Buffalo, NY	5.0	1.5	2560	$2,000	$0.78	2d	1	1.37mi
64 Montrose Ave Buffalo, NY	7.0	1.5	1512	$2,500	$1.65	2d	1	1.39mi
64 Montrose Ave Buffalo, NY	7.0	1.5	1512	$2,700	$1.79	44d	1	1.39mi

Listing history 25 events

1. 2026-06-21
   statusdays on market $179,000 Pending 67 DOM
2. 2026-06-18
   days on market $179,000 Active 65 DOM
3. 2026-06-17
   days on market $179,000 Active 64 DOM
4. 2026-06-16
   days on market $179,000 Active 63 DOM
5. 2026-06-15
   days on market $179,000 Active 62 DOM
6. 2026-06-13
   days on market $179,000 Active 60 DOM
7. 2026-06-13
   days on market $179,000 Active 59 DOM
8. 2026-06-10
   days on market $179,000 Active 57 DOM
9. 2026-06-09
   days on market $179,000 Active 56 DOM
10. 2026-06-08
    days on market $179,000 Active 55 DOM
11. 2026-06-07
    days on market $179,000 Active 54 DOM
12. 2026-06-03
    days on market $179,000 Active 50 DOM
13. 2026-06-02
    days on market $179,000 Active 49 DOM
14. 2026-06-01
    days on market $179,000 Active 48 DOM
15. 2026-05-31
    days on market $179,000 Active 47 DOM
16. 2026-04-14
    listed $179,000 Active 503-char remark

    Show marketing remark (503 chars)

    Spacious multi-family home located at 239 Rodney Ave featuring units that each have one large living rooms, one formal dining rooms, and well-sized kitchens. and attic has a big bedroom. This property offers generous living space throughout, making it ideal for both investors and owner-occupants. Conveniently located near local amenities, schools, and transportation, providing comfort and accessibility for everyday living. Square footage differs from tax records, please see the attached floor plan.

17. 2025-09-06
    historical
18. 2025-09-06
    historical
19. 2025-06-03
    status Active
20. 2025-06-01
    status Pending
21. 2025-05-25
    listed $179,000 Active
22. 2025-05-21
    historical
23. 2024-11-25
    listed $199,900 Active
24. 2014-08-19
    soldstatus $25,500
25. 2014-03-24
    soldstatus $23,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 13 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: $37,500
• − Mortgage interest: −$10,027
• − Property taxes: −$2,685
• − Insurance: −$895
• − Repairs & maintenance: −$3,000
• − Management: −$3,000
• − Depreciation: −$5,207
• Taxable income: $12,686
• Est. tax owed @ 24.0%: −$3,045
• After-tax cash flow: $11,736/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

+661.7% since first listed

10 events — show timeline

• 2026-04-14 Listed $179,000 WNYREIS
• 2025-09-06 Listing Removed — WNYREIS
• 2025-09-06 Listing Removed — WNYREIS
• 2025-06-03 Relisted — WNYREIS
• 2025-06-01 Pending — WNYREIS
• 2025-05-25 Listed $179,000 WNYREIS
• 2025-05-21 Listing Removed — WNYREIS
• 2024-11-25 Listed $199,900 WNYREIS
• 2014-08-19 Sold (Public Records) $25,500 Public Records
• 2014-03-24 Sold (Public Records) $23,500 Public Records

Property tax history

+9.5%/yr

Latest (2025): $235 · +0.0% YoY. Source: county tax records.