345 Florida St · Buffalo, NY 14208

$199,000

3 bd · 1.0 ba · 1,352 sqft · SingleFamily public records · 75 Days on market

Built 1900 2,490 sqft lot $147/sqft · at area comps Est $204k · at est.

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Why this score? — see what drove the D 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 +13.8/30.0
• ARV discount +8.7/15.0
• DSCR +4.2/10.0
• 1% rule +3.9/10.0
• 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 MLS

Welcome to this inviting two-story home featuring a perfect blend of classic charm and modern updates. From the moment you arrive, the spacious covered front porch and upper balcony create strong curb appeal and offer great outdoor living potential. Inside, you’ll find a bright and refreshed interior with neutral finishes throughout. The updated kitchen boasts sleek cabinetry, ample counter space, recessed lighting, and a clean, modern design—perfect for everyday living or entertaining. The adjacent dining area provides a functional layout for gatherings. Upstairs you will find a renovated bathroom and 3 spacious bedrooms. One bedroom has a walk out balcony. Updated flooring throughout the entire house and plenty of natural light.

Key facts

• Covered front porch
• Walk out balcony
• Renovated bathroom

Tags

• COVERED FRONT PORCH
• UPPER BALCONY
• UPDATED KITCHEN
• RENOVATED BATHROOM
• WALK OUT BALCONY
• UPDATED FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $19 ($225/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (11.3% below list).
• Recommended offer: $176k (11.3% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 8.1% in Buffalo — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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.
• Zoned schools: International School (math 8% / reading 17%, grade F, #2,048 of 2,108 statewide, top 97%, 981 students, 92% FRL); Hutchinson Central Technical High School (math 96% / reading 32%, grade B-, #807 of 1,100 statewide, top 73%, 1,175 students, 78% FRL).
• Market conditions: 55 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 44% of the median local income ($48k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($187k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $176,451 (11.3% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 11% 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. 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.89% ✗
• Cap rate: 6.41%
• Cash-on-cash: 0.40%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

• ARV (median comp): $204,401
• List price: $199,000
• Delta: -2.64%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
491 Northland Ave	0.27mi	3/1.0	1,239 (-8%)	0mo	$155,775	$126	73
378 Northland Ave	0.05mi	3/2.0	1,183 (-12%)	9mo	$125,000	$106	65
71 Chester St	0.72mi	3/1.5	1,300 (-4%)	2mo	$250,000	$192	56
187 Chester St	0.62mi	3/1.5	1,456 (+8%)	1mo	$99,000	$68	55
352 Florida St	0.03mi	3/2.0	1,150 (-15%)	23mo	$70,000	$61	51
146 Waverly St	0.63mi	3/1.5	1,456 (+8%)	8mo	$250,000	$172	50
273 Purdy St	0.54mi	4/2.0 (+1)	1,520 (+12%)	6mo	$90,000	$59	40
59 Landon St	0.74mi	4/1.0 (+1)	1,424 (+5%)	15mo	$76,500	$54	39
188 Waverly St	0.60mi	3/1.5	1,541 (+14%)	15mo	$264,000	$171	34
119 Purdy St	0.68mi	4/2.0 (+1)	1,269 (-6%)	18mo	$150,000	$118	34
86 Verplanck St	0.66mi	4/1.5 (+1)	1,258 (-7%)	22mo	$115,000	$91	32
218 Glenwood Ave	0.75mi	3/1.5	1,461 (+8%)	24mo	$247,000	$169	30

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: -15.6%
• Equity multiple: 0.44×
• Total profit: $-31,028
• Equity at exit: $29,672

10-year hold

• IRR: -7.2%
• Equity multiple: 0.54×
• Total profit: $-25,375
• Equity at exit: $17,206

Cash invested: $55,720 (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: 55
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,765 high
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $19

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 94%

Sensitivity live

Price	-10% $156	-5% $87	+0% $19	+5% $-50	+10% $-119
Rent	-10% $-121	-5% $-51	+0% $19	+5% $88	+10% $158
Rate	-1.0pp $119	-0.5pp $69	base $19	+0.5pp $-33	+1.0pp $-85

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
179 Donaldson Rd Buffalo, NY	3.0	1.0	1152	$1,350	$1.17	5d	1	0.09mi
184 Butler Ave Unit 1545840P Buffalo, NY	4.0	1.0	1496	$3,226	$2.16	17d	1	0.25mi
104 Butler Ave Buffalo, NY	3.0	1.0	1000	$1,400	$1.40	46d	1	0.27mi
102 Florida St Buffalo, NY	3.0	1.0	1296	$1,650	$1.27	46d	1	0.47mi
88 Florida St Buffalo, NY	2.0	1.0	1296	$1,700	$1.31	0d	1	0.50mi
408 Winslow Ave Unit 2 Buffalo, NY	3.0	1.0	1000	$1,050	$1.05	17d	1	0.62mi
1786 Main St Unit 103 Buffalo, NY	2.0	1.5	1110	$1,677	$1.51	46d	1	0.67mi
1786 Main St Unit 104 Buffalo, NY	2.0	2.0	1256	$1,875	$1.49	46d	1	0.67mi
121 Humboldt Pkwy Unit B Buffalo, NY	2.0	1.0	1265	$1,750	$1.38	46d	1	0.69mi
117 Humboldt Pkwy Unit A Buffalo, NY	3.0	1.0	1105	$2,300	$2.08	46d	1	0.70mi
107 Humboldt Pkwy Unit A Buffalo, NY	2.0	1.0	1172	$1,995	$1.70	46d	1	0.72mi
76 Chester St Unit 1 Buffalo, NY	3.0	1.0	1100	$1,000	$0.91	17d	1	0.75mi
2 Agassiz Cir Unit B Buffalo, NY	2.0	1.0	983	$2,050	$2.09	26d	1	0.79mi
2 Agassiz Cir Unit A Buffalo, NY	2.0	1.0	1076	$2,150	$2.00	26d	1	0.79mi
238 Oxford Ave Unit Upper Buffalo, NY	3.0	1.0	1100	$1,600	$1.45	26d	1	0.93mi
90 Sussex St Unit 2 Buffalo, NY	2.0	1.0	1000	$1,000	$1.00	46d	1	1.15mi
75 Inwood Pl Unit Lower Buffalo, NY	2.0	1.0	1175	$1,550	$1.32	46d	1	1.20mi
1560 Delaware Ave Unit 1 Buffalo, NY	3.0	1.0	1000	$2,800	$2.80	26d	1	1.20mi
753 Lafayette Ave Buffalo, NY	3.0	1.0	1750	$1,800	$1.03	0d	1	1.25mi
825 Forest Ave Unit 1 Buffalo, NY	3.0	1.0	1200	$1,700	$1.42	5d	1	1.25mi
825 Forest Ave Buffalo, NY	3.0	1.0	1200	$2,000	$1.67	26d	1	1.25mi
76 Vernon Pl Unit Upper Buffalo, NY	3.0	1.0	1190	$1,595	$1.34	17d	1	1.33mi
76 Vernon Pl Unit Lower Buffalo, NY	3.0	1.0	1190	$1,445	$1.21	17d	1	1.33mi
88 W Utica St Unit 1 Buffalo, NY	3.0	2.0	990	$2,150	$2.17	5d	1	1.34mi
88 W Utica St Unit 1 Buffalo, NY	3.0	2.0	990	$2,150	$2.17	17d	1	1.34mi
517 Goodyear Ave Buffalo, NY	3.0	1.0	1559	$1,800	$1.15	21d	1	1.39mi
685 Auburn Ave Unit 2 Buffalo, NY	3.0	1.0	1200	$1,750	$1.46	17d	1	1.49mi
685 Auburn Ave Buffalo, NY	2.0	1.0	1200	$1,600	$1.33	47d	1	1.49mi
916 Delaware Ave Buffalo, NY	2.0	1.0	750	$1,625	$2.17	0d	8	1.50mi

Listing history 19 events

1. 2026-06-22
   days on market $199,000 Active 75 DOM
2. 2026-06-21
   days on market $199,000 Active 74 DOM
3. 2026-06-18
   days on market $199,000 Active 71 DOM
4. 2026-06-17
   days on market $199,000 Active 70 DOM
5. 2026-06-16
   days on market $199,000 Active 69 DOM
6. 2026-06-15
   days on market $199,000 Active 68 DOM
7. 2026-06-13
   days on market $199,000 Active 66 DOM
8. 2026-06-13
   days on market $199,000 Active 65 DOM
9. 2026-06-10
   days on market $199,000 Active 63 DOM
10. 2026-06-09
    days on market $199,000 Active 62 DOM
11. 2026-06-08
    days on market $199,000 Active 61 DOM
12. 2026-06-07
    days on market $199,000 Active 60 DOM
13. 2026-06-03
    days on market $199,000 Active 56 DOM
14. 2026-06-02
    days on market $199,000 Active 55 DOM
15. 2026-06-01
    days on market $199,000 Active 54 DOM
16. 2026-05-31
    days on market $199,000 Active 53 DOM
17. 2026-05-12
    price $199,000 752-char remark

    Show marketing remark (752 chars)

    Welcome to this inviting two-story home featuring a perfect blend of classic charm and modern updates. From the moment you arrive, the spacious covered front porch and upper balcony create strong curb appeal and offer great outdoor living potential. Inside, you’ll find a bright and refreshed interior with neutral finishes throughout. The updated kitchen boasts sleek cabinetry, ample counter space, recessed lighting, and a clean, modern design—perfect for everyday living or entertaining. The adjacent dining area provides a functional layout for gatherings. Upstairs you will find a renovated bathroom and 3 spacious bedrooms. One bedroom has a walk out balcony. Updated flooring throughout the entire house and plenty of natural light.

18. 2026-04-09
    price $220,000 752-char remark

    Show marketing remark (752 chars)

    Welcome to this inviting two-story home featuring a perfect blend of classic charm and modern updates. From the moment you arrive, the spacious covered front porch and upper balcony create strong curb appeal and offer great outdoor living potential. Inside, you’ll find a bright and refreshed interior with neutral finishes throughout. The updated kitchen boasts sleek cabinetry, ample counter space, recessed lighting, and a clean, modern design—perfect for everyday living or entertaining. The adjacent dining area provides a functional layout for gatherings. Upstairs you will find a renovated bathroom and 3 spacious bedrooms. One bedroom has a walk out balcony. Updated flooring throughout the entire house and plenty of natural light.

19. 2026-04-08
    listed $199,000 Active 752-char remark

    Show marketing remark (752 chars)

    Welcome to this inviting two-story home featuring a perfect blend of classic charm and modern updates. From the moment you arrive, the spacious covered front porch and upper balcony create strong curb appeal and offer great outdoor living potential. Inside, you’ll find a bright and refreshed interior with neutral finishes throughout. The updated kitchen boasts sleek cabinetry, ample counter space, recessed lighting, and a clean, modern design—perfect for everyday living or entertaining. The adjacent dining area provides a functional layout for gatherings. Upstairs you will find a renovated bathroom and 3 spacious bedrooms. One bedroom has a walk out balcony. Updated flooring throughout the entire house and plenty of natural light.

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $21,174
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$1,694
• − Management: −$1,694
• − Depreciation: −$5,789
• Taxable loss: −$3,130
• Est. tax savings @ 24.0%: +$751
• After-tax cash flow: $976/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

+0.0% since first listed

3 events — show timeline

• 2026-05-12 Price Changed $199,000 WNYREIS
• 2026-04-09 Price Changed $220,000 WNYREIS
• 2026-04-08 Listed $199,000 WNYREIS

Property tax history

+2.5%/yr

Latest (2025): $286 · +0.0% YoY. Source: county tax records.