559 Tonawanda St · Buffalo, NY 14207

$130,000

3 bd · 2.0 ba · 804 sqft · MultiFamily public records · 52 Days on market

Built 1925 9,520 sqft lot $162/sqft · 55% 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

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

Welcome to 559 Tonawanda. A great opportunity for an owner occupant or investor. This is a beautifully maintained fully rented income-generating multi-family property. Professionally managed and cared for, with a tenant that is happy and would like to stay as would the property management. Grab this deal and start making a profit as soon as it closes. Property is being sold as-is.

Key facts

• Durable vinyl siding
• Expansive front area
• Well-maintained roof

Tags

• MULTI-UNIT PROPERTY
• EXPANSIVE FRONT AREA
• DURABLE VINYL SIDING
• WELL-MAINTAINED ROOF
• FULLY UPDATED LOWER UNIT
• BRAND-NEW PLUMBING

Property features AI

Finance

• Other: Property contains 2 total units with separate gas and electric meters for each unit; Some owner-paid items and rent details noted as 'See Remarks'
• Financial info: Operating expenses may include maintenance, professional management, and water/sewer

Exterior

• Parking: Concrete driveway with two or more parking spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story multi-family property; Resale property
• Construction: Vinyl siding; Existing (previously built)
• Exterior features: Rectangular lot; Near public transit; 68 x 140 lot dimensions

Interior

• Kitchen: Each unit includes an eat-in kitchen
• Bedrooms: Two 1-bedroom units (each unit has 1 bedroom)
• Flooring: Luxury vinyl
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Luxury vinyl flooring
• Laundry & utility: Gas water heater

🏷️ Possibly a rental listed for sale. The $130,000 price doesn't fit this home's estimated sale value (~$291,718) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $641 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.2% 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; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $1,948/mo this rent would consume 59% of the median local household income ($40k/yr) (locally 2177% 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 $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 15y 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 $66k; list at $130k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 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 1925 — 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: 1.50% ✓
• Cap rate: 12.21%
• Cash-on-cash: 21.12%
• DSCR: 1.94
• GRM: 5.6

CMA / ARV

• ARV (median comp): $291,718
• List price: $130,000
• Delta: -55.44%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 19.1%
• Equity multiple: 1.83×
• Total profit: $30,054
• Equity at exit: $19,383

10-year hold

• IRR: 30.7%
• Equity multiple: 4.45×
• Total profit: $125,675
• Equity at exit: $11,240

Cash invested: $36,400 (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: 11.1×

Monthly cashflow live

• Estimated rent: $1,948 medium
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $641

Break-even live

Break-even rent $1,137

Max offer price $130,000

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,948
Total (2 units)			$1,948

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
118 Rano St Buffalo, NY	3.0	1.0	1050	$1,200	$1.14	21d	1	0.31mi
356 Hertel Ave Buffalo, NY	2.0	1.5	800	$2,300	$2.88	2d	1	0.32mi
2099 Niagara St Unit A Buffalo, NY	2.0	1.0	1000	$1,197	$1.20	43d	1	0.33mi
15 Ontario St Unit 1 Buffalo, NY	3.0	1.0	1000	$1,500	$1.50	1d	1	0.38mi
155 Germain St Apt 1 Buffalo, NY	2.0	1.0	1000	$1,000	$1.00	10d	1	0.54mi
1920 Niagara St Unit 1 Buffalo, NY	2.0	1.0	695	$999	$1.44	43d	1	0.57mi
68 Laforce Pl Unit U Buffalo, NY	2.0	1.0	900	$1,099	$1.22	43d	1	0.60mi
239 Crowley Ave Buffalo, NY	2.0	1.0	966	$1,025	$1.06	3d	1	0.65mi
68 Peter St Buffalo, NY	2.0	1.0	900	$900	$1.00	23d	1	0.68mi
72 Reservation St Unit 2 Buffalo, NY	3.0	1.0	950	$1,150	$1.21	23d	1	0.72mi
15 Beatrice Ave Buffalo, NY	2.0	1.0	950	$1,150	$1.21	14d	1	0.90mi
134 Philadelphia St Buffalo, NY	3.0	1.0	871	$1,100	$1.26	2d	1	0.93mi
293 Grote St Buffalo, NY	1.0–2.0	1.0–2.0	817	$2,345	$2.87	1d	1	1.01mi
100 Forest Ave Buffalo, NY	2.0–4.0	2.0–4.0	1304	$1,600	$1.23	1d	14	1.10mi
1558 Elmwood Ave Unit 4 Buffalo, NY	2.0	1.0	800	$1,100	$1.38	43d	1	1.12mi
46 Hawley St #1 Buffalo, NY	2.0	1.0	900	$1,300	$1.44	43d	1	1.13mi
480 W Hazeltine Ave Buffalo, NY	3.0	1.0	989	$1,900	$1.92	23d	1	1.21mi
1485 Niagara St Buffalo, NY	1.0–2.0	1.0	925	$2,174	$2.35	1d	1	1.33mi
2075 Kenmore Ave Unit 611 Buffalo, NY	2.0	2.0	981	$1,950	$1.99	1d	1	1.33mi
57 Abbottsford Pl Buffalo, NY	2.0	1.0	1000	$1,550	$1.55	23d	1	1.41mi
309 Bird Ave Unit 1 Buffalo, NY	3.0	1.0	1100	$2,200	$2.00	43d	1	1.41mi

Listing history 28 events

1. 2026-06-18
   days on market $130,000 Active 52 DOM
2. 2026-06-17
   days on market $130,000 Active 51 DOM
3. 2026-06-16
   days on market $130,000 Active 50 DOM
4. 2026-06-15
   days on market $130,000 Active 49 DOM
5. 2026-06-13
   days on market $130,000 Active 47 DOM
6. 2026-06-13
   days on market $130,000 Active 46 DOM
7. 2026-06-10
   days on market $130,000 Active 44 DOM
8. 2026-06-09
   days on market $130,000 Active 43 DOM
9. 2026-06-08
   days on market $130,000 Active 42 DOM
10. 2026-06-07
    days on market $130,000 Active 41 DOM
11. 2026-06-03
    days on market $130,000 Active 37 DOM
12. 2026-06-02
    days on market $130,000 Active 36 DOM
13. 2026-06-01
    days on market $130,000 Active 35 DOM
14. 2026-05-31
    days on market $130,000 Active 34 DOM
15. 2026-04-27
    listed $130,000 Active 652-char remark
16. 2021-04-29
    soldstatus $65,500 Closed Sale or Rented 383-char remark

    Show marketing remark (383 chars)

    Welcome to 559 Tonawanda. A great opportunity for an owner occupant or investor. This is a beautifully maintained fully rented income-generating multi-family property. Professionally managed and cared for, with a tenant that is happy and would like to stay as would the property management. Grab this deal and start making a profit as soon as it closes. Property is being sold as-is.

17. 2021-04-23
    soldstatus $65,500
18. 2021-03-17
    status Under Contract- Do Not Show 383-char remark

    Show marketing remark (383 chars)

    Welcome to 559 Tonawanda. A great opportunity for an owner occupant or investor. This is a beautifully maintained fully rented income-generating multi-family property. Professionally managed and cared for, with a tenant that is happy and would like to stay as would the property management. Grab this deal and start making a profit as soon as it closes. Property is being sold as-is.

19. 2021-01-26
    listed $69,000 Active 383-char remark

    Show marketing remark (383 chars)

    Welcome to 559 Tonawanda. A great opportunity for an owner occupant or investor. This is a beautifully maintained fully rented income-generating multi-family property. Professionally managed and cared for, with a tenant that is happy and would like to stay as would the property management. Grab this deal and start making a profit as soon as it closes. Property is being sold as-is.

20. 2020-06-05
    historical
21. 2020-06-05
    historical
22. 2020-03-12
    price $60,000
23. 2019-11-12
    listed $69,000 Active
24. 2019-11-04
    listed $69,000 Active
25. 2011-09-22
    soldstatus $55,850
26. 2011-08-26
    soldstatus $24,900
27. 2011-08-26
    soldstatus $25,000
28. 2011-08-05
    listed $27,900

ⓘ 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 3/10 Moderate 7 d/yr ≥93°F today · 15 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: $23,376
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$650
• − Repairs & maintenance: −$1,870
• − Management: −$1,870
• − Depreciation: −$3,782
• Taxable income: $5,972
• Est. tax owed @ 24.0%: −$1,433
• After-tax cash flow: $6,253/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

+365.9% since first listed

14 events — show timeline

• 2026-04-27 Listed $130,000 WNYREIS
• 2021-04-29 Sold (MLS) $65,500 WNYREIS
• 2021-04-23 Sold (Public Records) $65,500 Public Records
• 2021-03-17 Pending — WNYREIS
• 2021-01-26 Listed $69,000 WNYREIS
• 2020-06-05 Listing Removed — WNYREIS
• 2020-06-05 Listing Removed — WNYREIS
• 2020-03-12 Price Changed $60,000 WNYREIS
• 2019-11-12 Listed $69,000 WNYREIS
• 2019-11-04 Listed $69,000 WNYREIS
• 2011-09-22 Sold (Public Records) $55,850 Public Records
• 2011-08-26 Sold (Public Records) $25,000 Public Records
• 2011-08-26 Sold (MLS) $24,900 WNYREIS
• 2011-08-05 Listed $27,900 WNYREIS

Property tax history

+8.3%/yr

Latest (2025): $258 · +31.3% YoY. Source: county tax records.