83 Thompson St · Buffalo, NY 14207

$65,000

2 bd · 1.0 ba · 792 sqft · SingleFamily public records · 35 Days on market

Built 1900 2,402 sqft lot $82/sqft · 50% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

house is solid but need a little tlc to make it your own

Key facts

• 2,402 sq ft lot
• Built 1900
• Listed 35 days

Property features AI

Exterior

• Parking: No garage; No driveway
• Utilities: Public water (connected); Sewer connected; Circuit breaker electric service
• Home design: Single-story home; Resale property
• Construction: Vinyl siding; Copper plumbing; Architectural shingle roof; Stone foundation; Existing structure
• Exterior features: Dock; See remarks

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas forced-air heating; Wall cooling unit(s)
• Interior features: Solid surface counters; See remarks / other interior features
• Laundry & utility: Main-level laundry; Washer, Dryer; Electric and Gas Water Heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $533 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.1% 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 (+8.2%/yr); 197 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 35% of the median local income ($40k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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 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: 1.80% ✓
• Cap rate: 16.13%
• Cash-on-cash: 35.15%
• DSCR: 2.56
• GRM: 4.6

CMA / ARV

• ARV (median comp): $130,313
• List price: $65,000
• Delta: -50.12%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35 Howell St	0.69mi	3/1.0 (+1)	818 (+3%)	13mo	$185,000	$226	47
139 Howell St	0.67mi	2/1.0	743 (-6%)	19mo	$140,000	$188	42

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 35.9%
• Equity multiple: 2.63×
• Total profit: $29,585
• Equity at exit: $9,692

10-year hold

• IRR: 45.1%
• Equity multiple: 6.36×
• Total profit: $97,554
• Equity at exit: $5,620

Cash invested: $18,200 (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 14207

• Home prices YoY: -18.9%
• Rents YoY: 8.2%
• Active inventory: 197
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,170 high
• Mortgage (P&I): −$341
• Tax from tax record: −$23 /mo · $281/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $533

Break-even live

Break-even rent $495

Max offer price $65,000

Occupancy floor 49%

Sensitivity live

Price	-10% $570	-5% $551	+0% $533	+5% $515	+10% $496
Rent	-10% $441	-5% $487	+0% $533	+5% $579	+10% $626
Rate	-1.0pp $566	-0.5pp $550	base $533	+0.5pp $516	+1.0pp $499

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
215 Thompson St Buffalo, NY	1.0	1.0	700	$800	$1.14	3d	1	0.23mi
1920 Niagara St Unit 1 Buffalo, NY	2.0	1.0	695	$999	$1.44	44d	1	0.24mi
336 East St Buffalo, NY	1.0	1.0	795	$1,000	$1.26	15d	1	0.33mi
2099 Niagara St Unit A Buffalo, NY	2.0	1.0	1000	$1,197	$1.20	44d	1	0.46mi
155 Germain St Apt 1 Buffalo, NY	2.0	1.0	1000	$1,000	$1.00	11d	1	0.56mi
68 Peter St Buffalo, NY	2.0	1.0	900	$900	$1.00	24d	1	0.58mi
100 Forest Ave Buffalo, NY	2.0–4.0	2.0–4.0	1304	$640	$0.49	2d	14	0.62mi
356 Hertel Ave Buffalo, NY	2.0	1.5	800	$2,300	$2.88	3d	1	0.68mi
46 Hawley St #1 Buffalo, NY	2.0	1.0	900	$1,300	$1.44	44d	1	0.69mi
72 Reservation St Unit 2 Buffalo, NY	3.0	1.0	950	$1,150	$1.21	24d	1	0.74mi
15 Ontario St Unit 1 Buffalo, NY	3.0	1.0	1000	$1,500	$1.50	2d	1	0.74mi
118 Rano St Buffalo, NY	3.0	1.0	1050	$1,200	$1.14	21d	1	0.79mi
1485 Niagara St Buffalo, NY	1.0–2.0	1.0	925	$2,174	$2.35	2d	1	0.84mi
68 Laforce Pl Unit U Buffalo, NY	2.0	1.0	900	$1,099	$1.22	44d	1	0.91mi
309 Bird Ave Unit 1 Buffalo, NY	3.0	1.0	1100	$2,200	$2.00	44d	1	0.97mi
293 Grote St Buffalo, NY	1.0–2.0	1.0–2.0	817	$2,345	$2.87	2d	1	1.01mi
57 Abbottsford Pl Buffalo, NY	2.0	1.0	1000	$1,550	$1.55	24d	1	1.02mi
1558 Elmwood Ave Unit 4 Buffalo, NY	2.0	1.0	800	$1,100	$1.38	44d	1	1.03mi
30 Abbottsford Pl Buffalo, NY	1.0	1.0	600	$1,100	$1.83	2d	1	1.04mi
37 Holmes St Buffalo, NY	1.0	1.0	900	$1,095	$1.22	15d	1	1.04mi
163 W Delavan Ave Buffalo, NY	3.0	1.0	1000	$1,500	$1.50	24d	1	1.09mi
239 Crowley Ave Buffalo, NY	2.0	1.0	966	$1,025	$1.06	3d	1	1.13mi
865 Richmond Ave Unit Rear Buffalo, NY	2.0	1.0	850	$1,100	$1.29	44d	1	1.16mi
1116 Elmwood Ave Buffalo, NY	1.0	1.0	700	$995	$1.42	44d	1	1.28mi
257 Lafayette Ave Unit 317 Buffalo, NY	2.0	1.0	897	$1,400	$1.56	24d	1	1.29mi
196 Auburn Ave Buffalo, NY	3.0	1.0	1000	$1,300	$1.30	44d	1	1.30mi
257 Lafayette Ave Apt 319 Buffalo, NY	2.0	1.0	900	$1,395	$1.55	24d	1	1.30mi
466 W Delavan Ave Unit 3 Buffalo, NY	1.0	1.0	800	$1,350	$1.69	44d	1	1.32mi
136 Parkdale Ave Unit 1 Buffalo, NY	1.0	1.0	900	$900	$1.00	44d	1	1.35mi
130 Parkdale Ave Buffalo, NY	1.0	1.0	650	$900	$1.38	44d	1	1.36mi
15 Beatrice Ave Buffalo, NY	2.0	1.0	950	$1,150	$1.21	15d	1	1.38mi
134 Philadelphia St Buffalo, NY	3.0	1.0	871	$1,100	$1.26	3d	1	1.40mi
1015 Elmwood Ave Unit 3 Buffalo, NY	2.0	2.0	1000	$1,400	$1.40	44d	1	1.41mi
1015 Elmwood Ave Unit 2 Buffalo, NY	1.0	1.0	900	$1,400	$1.56	44d	1	1.41mi
116 Bidwell Pkwy Buffalo, NY	1.0	1.0	550	$1,375	$2.50	3d	3	1.41mi

Listing history 15 events

1. 2026-06-18
   days on market $65,000 Active 35 DOM
2. 2026-06-17
   days on market $65,000 Active 34 DOM
3. 2026-06-16
   days on market $65,000 Active 33 DOM
4. 2026-06-15
   days on market $65,000 Active 32 DOM
5. 2026-06-13
   days on market $65,000 Active 30 DOM
6. 2026-06-13
   days on market $65,000 Active 29 DOM
7. 2026-06-10
   days on market $65,000 Active 27 DOM
8. 2026-06-09
   days on market $65,000 Active 26 DOM
9. 2026-06-08
   days on market $65,000 Active 25 DOM
10. 2026-06-07
    days on market $65,000 Active 24 DOM
11. 2026-06-03
    days on market $65,000 Active 20 DOM
12. 2026-06-02
    days on market $65,000 Active 19 DOM
13. 2026-06-01
    days on market $65,000 Active 18 DOM
14. 2026-05-31
    days on market $65,000 Active 17 DOM
15. 2026-05-14
    listed $65,000 Active 56-char remark

ⓘ 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: $281 · $23/mo
• Projected year-2 tax: $690 · $57/mo
• Expected delta: +$409/yr (+$34/mo · 145.7%)

ⓘ 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 ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,042
• − Mortgage interest: −$3,641
• − Property taxes: −$281
• − Insurance: −$325
• − Repairs & maintenance: −$1,123
• − Management: −$1,123
• − Depreciation: −$1,891
• Taxable income: $5,657
• Est. tax owed @ 24.0%: −$1,358
• After-tax cash flow: $5,039/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): 26,327
• Household income: $39,753
• Rent vs Own: 65.0% rent · 35.0% own
• Severe rent burden: 2177.0

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: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: White 40% Hispanic / Latino 23% Black 16% Asian 15% Two or more races 14%
• Hispanic origin (detail): Puerto Rican 18% Dominican 2%
• Common ancestry: Romanian 8% Portuguese 1% Arab 1%
• Foreign-born: 19% · Philippines, Canada, India
• Languages at home: 65% English-only · Spanish 14% Other Asian/Pacific 10% Other Indo-European 5%

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: ▼ -54.42%
• Current HPI: 233.0902
• Rent YoY: ▲ 8.19%
• 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

• 2026-05-14 Listed $65,000 WNYREIS

Property tax history

+9.0%/yr

Latest (2025): $281 · +0.2% YoY. Source: county tax records.