1310 E Lovejoy St · Buffalo, NY 14206

$135,000

6 bd · 2.0 ba · 2,168 sqft · MultiFamily public records · 37 Days on market

Built 1900 3,600 sqft lot $62/sqft · 42% below area Est $234k · 42% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Multi-family property featuring two spacious units, each offering 3 bedrooms and 1 full bathroom. Both units include comfortable living spaces, functional kitchens, and separate entrances. Great opportunity for owner-occupants or investors. Conveniently located near schools, shopping, restaurants, and major routes. Don’t miss this versatile investment opportunity!

Key facts

• Two spacious units
• Functional kitchens
• Separate entrances

Tags

• TWO SPACIOUS UNITS
• FUNCTIONAL KITCHENS
• SEPARATE ENTRANCES

Property features AI

Finance

• Other: Two total units (multi-family property); Two separate gas meters; Two separate electric meters
• Financial info: Owner pays water; water included in rent; Operating expenses include water

Exterior

• Parking: One off-street parking space
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Resale property; Vinyl siding
• Construction: Vinyl siding construction; Existing (previously built)
• Exterior features: City street frontage; Near public transit; Rectangular residential lot, approximately 30 x 120

Interior

• Kitchen: Gas water heater
• Bedrooms: Two separate 3-bedroom units (each unit has 3 bedrooms)
• Flooring: Carpet; Hardwood; Vinyl
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Crawl space basement; Varied interior finishes
• Laundry & utility: Separate gas and electric meters for each unit

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $135k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.8% 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: 169 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,930/mo this rent would consume 70% of the median local household income ($50k/yr) (locally 841% 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 $12k of equity ($933 loan paydown + $11k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 11y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $34k; list at $135k implies a 297% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.17% ✓
• Cap rate: 19.79%
• Cash-on-cash: 48.20%
• DSCR: 3.14
• GRM: 3.8

CMA / ARV

• ARV (median comp): $234,099
• List price: $135,000
• Delta: -42.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8 Wagner Ave	0.11mi	5/3.0 (-1)	2,149 (-1%)	2mo	$205,000	$95	82
55 N Ogden St Unit E	0.28mi	6/2.0	2,184 (+1%)	14mo	$220,000	$101	74
121 Schiller St	0.13mi	6/2.0	2,000 (-8%)	12mo	$157,000	$79	71
103 Goethe St	0.13mi	5/2.0 (-1)	2,024 (-7%)	15mo	$140,000	$69	65
120 Gold Street St	0.31mi	5/2.0 (-1)	2,104 (-3%)	15mo	$151,000	$72	63
53 Gold St	0.36mi	6/2.0	2,412 (+11%)	11mo	$170,000	$70	55
153 Ideal St	0.39mi	6/2.5	2,390 (+10%)	10mo	$141,500	$59	55
213 Boll St	0.67mi	5/2.0 (-1)	2,244 (+4%)	5mo	$275,000	$123	54
345 Ideal St	0.48mi	6/2.0	1,960 (-10%)	12mo	$140,000	$71	52
115 Greene St	0.51mi	5/3.0 (-1)	1,968 (-9%)	6mo	$165,000	$84	47
259 Halstead Ave	0.61mi	5/3.0 (-1)	2,344 (+8%)	5mo	$266,000	$113	45
2067 Broadway St	0.60mi	6/3.0	1,970 (-9%)	16mo	$172,000	$87	39

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

Projected returns pro-forma

8.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 59.7%
• Equity multiple: 5.04×
• Total profit: $152,778
• Equity at exit: $103,100

10-year hold

• IRR: 54.8%
• Equity multiple: 10.82×
• Total profit: $371,363
• Equity at exit: $205,166

Cash invested: $37,800 (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 14206

• Home prices YoY: 1.8%
• Active inventory: 169
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,930 high
• Mortgage (P&I): −$708
• Tax from tax record: −$32 /mo · $386/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$615
• Net cashflow: $1,518

Break-even live

Break-even rent $1,008

Max offer price $135,000

Occupancy floor 43%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,930
Total (2 units)			$2,930

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 43 events

1. 2026-06-18
   days on market $135,000 Active 37 DOM
2. 2026-06-17
   days on market $135,000 Active 36 DOM
3. 2026-06-16
   days on market $135,000 Active 35 DOM
4. 2026-06-15
   days on market $135,000 Active 34 DOM
5. 2026-06-13
   days on market $135,000 Active 32 DOM
6. 2026-06-13
   pricedays on market $135,000 Active 31 DOM
7. 2026-06-10
   days on market $145,000 Active 29 DOM
8. 2026-06-09
   days on market $145,000 Active 28 DOM
9. 2026-06-08
   days on market $145,000 Active 27 DOM
10. 2026-06-07
    days on market $145,000 Active 26 DOM
11. 2026-06-03
    days on market $145,000 Active 22 DOM
12. 2026-06-02
    days on market $145,000 Active 21 DOM
13. 2026-06-01
    days on market $145,000 Active 20 DOM
14. 2026-05-31
    days on market $145,000 Active 19 DOM
15. 2026-05-12
    listed $145,000 Active 372-char remark
16. 2025-08-25
    price $135,000
17. 2025-07-24
    price $139,000
18. 2025-07-07
    price $143,000
19. 2025-06-17
    listed $149,999 Active
20. 2025-03-31
    historical
21. 2025-03-12
    price $145,800
22. 2025-02-26
    price $149,800
23. 2025-01-21
    price $154,900
24. 2025-01-15
    price $164,900
25. 2024-12-16
    listed $169,900 Active
26. 2018-07-12
    soldstatus $34,000 Closed Sale or Rented
27. 2018-07-09
    soldstatus $34,000
28. 2018-06-04
    status Pending Sale
29. 2018-06-01
    status Under Contract- Do Not Show
30. 2018-05-24
    status Active
31. 2018-04-09
    status Pending Sale
32. 2018-03-29
    status Under Contract- Do Not Show
33. 2018-03-28
    listed $56,000 Active
34. 2017-09-05
    historical
35. 2017-06-27
    price $49,900
36. 2017-06-05
    listed $56,000 Active
37. 2017-03-06
    historical
38. 2016-09-26
    price $51,900
39. 2016-09-06
    listed $59,200 Active
40. 2016-05-14
    historical
41. 2015-11-13
    listed $59,200 Active
42. 2002-11-26
    soldstatus $50,000
43. 1993-12-03
    soldstatus $27,685

ⓘ 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: $386 · $32/mo
• Projected year-2 tax: $1,334 · $111/mo
• Expected delta: +$948/yr (+$79/mo · 245.2%)

ⓘ 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) · 68% 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: $35,160
• − Mortgage interest: −$7,562
• − Property taxes: −$386
• − Insurance: −$675
• − Repairs & maintenance: −$2,813
• − Management: −$2,813
• − Depreciation: −$3,927
• Taxable income: $16,984
• Est. tax owed @ 24.0%: −$4,076
• After-tax cash flow: $14,143/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): 21,631
• Household income: $50,450
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 841.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 13% Black 12% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10%
• Common ancestry: Romanian 25% Lithuanian 1% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Arabic 2%

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: ▲ 8.06%
• Current HPI: 457.3935
• 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

+387.6% since first listed

30 events — show timeline

• 2026-06-12 Price Changed $135,000 WNYREIS
• 2026-05-12 Listed $145,000 WNYREIS
• 2025-08-25 Price Changed $135,000 WNYREIS
• 2025-07-24 Price Changed $139,000 WNYREIS
• 2025-07-07 Price Changed $143,000 WNYREIS
• 2025-06-17 Listed $149,999 WNYREIS
• 2025-03-31 Listing Removed — WNYREIS
• 2025-03-12 Price Changed $145,800 WNYREIS
• 2025-02-26 Price Changed $149,800 WNYREIS
• 2025-01-21 Price Changed $154,900 WNYREIS
• 2025-01-15 Price Changed $164,900 WNYREIS
• 2024-12-16 Listed $169,900 WNYREIS
• 2018-07-12 Sold (MLS) $34,000 WNYREIS
• 2018-07-09 Sold (Public Records) $34,000 Public Records
• 2018-06-04 Pending — WNYREIS
• 2018-06-01 Pending — WNYREIS
• 2018-05-24 Relisted — WNYREIS
• 2018-04-09 Pending — WNYREIS
• 2018-03-29 Pending — WNYREIS
• 2018-03-28 Listed $56,000 WNYREIS
• 2017-09-05 Listing Removed — WNYREIS
• 2017-06-27 Price Changed $49,900 WNYREIS
• 2017-06-05 Listed $56,000 WNYREIS
• 2017-03-06 Listing Removed — WNYREIS
• 2016-09-26 Price Changed $51,900 WNYREIS
• 2016-09-06 Listed $59,200 WNYREIS
• 2016-05-14 Listing Removed — WNYREIS
• 2015-11-13 Listed $59,200 WNYREIS
• 2002-11-26 Sold (Public Records) $50,000 Public Records
• 1993-12-03 Sold (Public Records) $27,685 Public Records

Property tax history

+5.5%/yr

Latest (2025): $386 · +32.6% YoY. Source: county tax records.