65 Hayden St · Buffalo, NY 14210

$200,000

4 bd · 2.0 ba · 1,848 sqft · MultiFamily public records · 11 Days on market

Built 1900 3,300 sqft lot Est $205k · at est.

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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 +29.8/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +8.6/15.0
• 1% rule +7.1/10.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• 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 MLS

Here's a great opportunity to own a well kept 2/2 double in South Buffalo! Located on a quiet street, this home has 2 units, both occupied by long term tenants. Each unit has a spacious eat-in kitchen, two bedrooms, wall to wall carpeting, and vinyl flooring. The upper unit has a great balcony looking out to the street, and the lower has a large covered porch. Seller is also selling 70 Houston B1602620 and is willing to offer a bundle price of $285,000 for both properties. Showings begin 4/30 and negotiations begin 5/6 at 3pm. Open Houses are Wednesday 4/30 from 4:30-6:30, and Saturday 5/3 from 11-1.

Key facts

• Vinyl flooring
• Off street parking
• Eat-in kitchens

Tags

• EAT-IN KITCHENS
• VINYL FLOORING
• FULL BASEMENT
• OFF STREET PARKING
• SOLID MECHANICALS

Property features AI

Finance

• Financial info: Owner pays trash collection and water; Operating expenses may include insurance, management, maintenance (structure and general), professional management, rent, and water/sewer

Exterior

• Parking: Concrete paved parking
• Utilities: Cable available; Electricity connected (circuit breakers); High-speed internet available; Public water connected; Sewer connected
• Home design: 2-story property; Residential 2-unit zoning; Entry level existing
• Construction: Aluminum siding, Brick, and Vinyl siding exterior; Asphalt architectural shingle roof; Block and stone foundation; Built as existing structure
• Exterior features: Balcony; Covered porch

Interior

• Flooring: Carpet; Luxury vinyl; Varies
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Thermal windows; Natural woodwork
• Laundry & utility: Washer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $734 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Cap rate 10.7% 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 (+12.7%/yr); 94 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 $2,416/mo this rent would consume 53% of the median local household income ($54k/yr) (locally 959% 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 $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $56k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 11y 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 $170k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $200,000

Questions for the listing agent

1. Built in 1900 — 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 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: 1.21% ✓
• Cap rate: 10.69%
• Cash-on-cash: 15.72%
• DSCR: 1.70
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $205,128
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
65 Hayden St	0.00mi	4/2.0	1,848 (0%)	11mo	$170,000	$92	91
48 Ryan St	0.04mi	4/2.0	2,084 (+13%)	8mo	$213,000	$102	70
61 Princeton Pl	0.31mi	4/2.0	1,640 (-11%)	1mo	$256,000	$156	66
50 Kingston Pl	0.35mi	4/2.0	1,631 (-12%)	1mo	$185,000	$113	63
116 Melrose St	0.38mi	4/2.0	2,001 (+8%)	8mo	$223,000	$111	62
99 Kamper Ave	0.21mi	4/2.0	1,584 (-14%)	6mo	$175,000	$110	61
52 Fredro St	0.75mi	4/2.0	1,856 (+0%)	7mo	$43,000	$23	58
89 Melrose St	0.41mi	4/2.0	2,038 (+10%)	7mo	$318,000	$156	58
81 Melrose St	0.43mi	4/2.0	2,116 (+14%)	5mo	$264,000	$125	52
11 Dorr St	0.67mi	3/2.0 (-1)	1,944 (+5%)	4mo	$179,900	$93	51
127 Barnard St	0.73mi	4/2.0	1,628 (-12%)	10mo	$260,000	$160	38
131 Edson St	0.72mi	3/2.0 (-1)	1,647 (-11%)	11mo	$178,500	$108	34

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

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 38.2%
• Equity multiple: 4.01×
• Total profit: $168,323
• Equity at exit: $180,176

10-year hold

• IRR: 34.6%
• Equity multiple: 9.76×
• Total profit: $490,393
• Equity at exit: $388,556

Cash invested: $56,000 (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 14210

• Home prices YoY: 13.8%
• Rents YoY: 12.7%
• Active inventory: 94
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $2,416 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$43 /mo · $515/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $734

Break-even live

Break-even rent $1,487

Max offer price $200,000

Occupancy floor 65%

Sensitivity live

Price	-10% $847	-5% $790	+0% $734	+5% $677	+10% $620
Rent	-10% $543	-5% $638	+0% $734	+5% $829	+10% $924
Rate	-1.0pp $834	-0.5pp $784	base $734	+0.5pp $682	+1.0pp $629

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,416
Total (2 units)			$2,416

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
89 Macamley St #2 Buffalo, NY	3.0	1.0	1274	$1,100	$0.86	11d	1	0.89mi
74 Woodside Ave Unit 1 Buffalo, NY	3.0	1.0	1250	$1,510	$1.21	3d	1	1.22mi

Listing history 9 events

1. 2026-06-16
   statusdays on market $200,000 Pending 11 DOM
2. 2026-06-15
   days on market $200,000 Active 10 DOM
3. 2026-06-13
   days on market $200,000 Active 8 DOM
4. 2026-06-13
   days on market $200,000 Active 7 DOM
5. 2026-06-10
   days on market $200,000 Active 5 DOM
6. 2026-06-09
   days on market $200,000 Active 4 DOM
7. 2026-06-08
   days on market $200,000 Active 3 DOM
8. 2026-06-07
   remarks 405-char remark
9. 2026-06-07
   listed $200,000 Active 2 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: $515 · $43/mo
• Projected year-2 tax: $1,948 · $162/mo
• Expected delta: +$1,432/yr (+$119/mo · 278.1%)

ⓘ 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) · 74% 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: $28,992
• − Mortgage interest: −$11,203
• − Property taxes: −$515
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,319
• − Management: −$2,319
• − Depreciation: −$5,818
• Taxable income: $5,817
• Est. tax owed @ 24.0%: −$1,396
• After-tax cash flow: $7,407/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): 15,563
• Household income: $54,197
• Rent vs Own: 53.9% rent · 46.1% own
• Severe rent burden: 959.0

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 White (79%)
• Race & ethnicity: White 79% Two or more races 8% Black 8% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 21% Lithuanian 2% Serbian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 95% English-only · Spanish 2% Arabic 1% Other Indo-European 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: ▲ 52.34%
• Current HPI: 431.7951
• Rent YoY: ▲ 12.67%
• 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

+471.4% since first listed

16 events — show timeline

• 2026-06-06 Listed $200,000 WNYREIS
• 2025-08-25 Sold (Public Records) $170,000 Public Records
• 2025-08-01 Sold (MLS) $170,000 WNYREIS
• 2025-05-08 Pending — WNYREIS
• 2025-04-28 Listed $149,900 WNYREIS
• 2024-12-14 Listing Removed — WNYREIS
• 2024-12-12 Listing Removed — WNYREIS
• 2024-12-11 Listing Removed — WNYREIS
• 2024-11-14 Price Changed $174,900 WNYREIS
• 2024-10-17 Price Changed $184,900 WNYREIS
• 2024-06-06 Listed $194,900 WNYREIS
• 2015-07-25 Sold (MLS) $55,000 WNYREIS
• 2015-07-23 Sold (Public Records) $55,000 Public Records
• 2015-04-27 Listed $59,900 WNYREIS
• 2007-08-10 Sold (Public Records) $42,500 Public Records
• 1993-06-30 Sold (Public Records) $35,000 Public Records

Property tax history

+7.6%/yr

Latest (2025): $515 · +55.8% YoY. Source: county tax records.