53 Sirret St · Buffalo, NY 14220

$159,900

4 bd · 2.0 ba · 1,436 sqft · MultiFamily public records · 69 Days on market

Built 1910 3,120 sqft lot $111/sqft · 49% below area Est $313k · 49% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.4/5.0
• 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

Investment Opportunity or Owner-Occupant Potential in Buffalo! Welcome to 53 Sirret Street, a well-maintained two-unit property offering excellent income potential and long-term value. This property features a spacious 3-bedroom lower unit and a 2-bedroom upper unit, both currently vacant and ready for occupancy. Based on previous rental history, the property has the potential to generate up to $2,400 per month in total rental income. Additional highlights include off-street driveway parking and a large rear storage shed, adding convenience for both tenants and owners. Ideally located just minutes from major employers, including Tesla, this property is well-positioned to benefit from strong and consistent rental demand. Whether you're looking to expand your investment portfolio or occupy one unit while generating income from the other, 53 Sirret Street presents a fantastic opportunity!

Key facts

• Two unit property
• 3,120 sq ft lot
• Built 1910

Tags

• TWO UNIT PROPERTY
• OFF STREET DRIVEWAY PARKING
• LARGE REAR STORAGE SHED
• MINUTES FROM MAJOR EMPLOYERS

🏷️ Possibly a rental listed for sale. The $159,900 price doesn't fit this home's estimated sale value (~$313,198) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $769 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.5% 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 (+7.6%/yr); 136 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 41% of the median local income ($71k/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 $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.6% rent growth), your $45k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y 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 $55k; list at $160k implies a 191% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.53% ✓
• Cap rate: 12.48%
• Cash-on-cash: 22.11%
• DSCR: 1.98
• GRM: 5.5

CMA / ARV

• ARV (median comp): $313,198
• List price: $159,900
• Delta: -48.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
61 Sirret St	0.01mi	4/2.0	1,371 (-4%)	9mo	$65,000	$47	84
119 Trowbridge St	0.23mi	3/2.0 (-1)	1,505 (+5%)	12mo	$133,400	$89	67
199 Amber St	0.69mi	3/2.0 (-1)	1,543 (+8%)	10mo	$159,900	$104	42
79 Eaglewood Ave	0.71mi	3/2.0 (-1)	1,267 (-12%)	5mo	$181,000	$143	38

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 · 7.62% rent growth · sell at horizon

5-year hold

• IRR: 18.2%
• Equity multiple: 1.78×
• Total profit: $35,048
• Equity at exit: $23,842

10-year hold

• IRR: 29.8%
• Equity multiple: 4.30×
• Total profit: $147,568
• Equity at exit: $13,825

Cash invested: $44,772 (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 14220

• Home prices YoY: -26.7%
• Rents YoY: 7.6%
• Active inventory: 136
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,443 medium
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,398/yr
• Insurance: −$67
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$513
• Net cashflow: $769

Break-even live

Break-even rent $1,469

Max offer price $159,900

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,348
1× unit	2	1	$1,095
Total (2 units)			$2,443

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 11 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	10d	1	0.19mi
700 Hopkins St Buffalo, NY	3.0	1.0	1100	$1,225	$1.11	14d	1	0.23mi
76 Hammerschmidt Ave Buffalo, NY	3.0	1.0	1200	$1,275	$1.06	2d	1	0.75mi
298 Cumberland Ave Buffalo, NY	3.0	1.5	1208	$2,200	$1.82	1d	1	0.78mi
1899 Seneca St Buffalo, NY	3.0	1.0	1134	$1,075	$0.95	14d	1	0.86mi
1927 Seneca St Buffalo, NY	3.0	1.0	1196	$1,250	$1.05	23d	1	0.89mi
74 Woodside Ave Unit 1 Buffalo, NY	3.0	1.0	1250	$1,510	$1.21	1d	1	0.93mi
34 Hayden St Unit Back Buffalo, NY	3.0	1.0	1200	$1,600	$1.33	43d	1	1.00mi
47 Lester St Unit Main Floor Buffalo, NY	3.0	1.0	900	$1,000	$1.11	43d	1	1.09mi
901 S Park Ave Unit Lower Buffalo, NY	4.0	1.0	1729	$1,600	$0.93	23d	1	1.27mi
23 Indian Orchard Pl Unit Lower Buffalo, NY	3.0	1.0	1200	$1,250	$1.04	43d	1	1.37mi

Listing history 31 events

1. 2026-06-18
   days on market $159,900 Active 69 DOM
2. 2026-06-17
   days on market $159,900 Active 68 DOM
3. 2026-06-16
   days on market $159,900 Active 67 DOM
4. 2026-06-15
   days on market $159,900 Active 66 DOM
5. 2026-06-13
   days on market $159,900 Active 64 DOM
6. 2026-06-13
   days on market $159,900 Active 63 DOM
7. 2026-06-10
   days on market $159,900 Active 61 DOM
8. 2026-06-09
   days on market $159,900 Active 60 DOM
9. 2026-06-08
   days on market $159,900 Active 59 DOM
10. 2026-06-07
    days on market $159,900 Active 58 DOM
11. 2026-06-03
    days on market $159,900 Active 54 DOM
12. 2026-06-02
    days on market $159,900 Active 53 DOM
13. 2026-06-01
    days on market $159,900 Active 52 DOM
14. 2026-05-31
    days on market $159,900 Active 51 DOM
15. 2026-04-10
    listed $159,900 Active 901-char remark

    Show marketing remark (901 chars)

    Investment Opportunity or Owner-Occupant Potential in Buffalo! Welcome to 53 Sirret Street, a well-maintained two-unit property offering excellent income potential and long-term value. This property features a spacious 3-bedroom lower unit and a 2-bedroom upper unit, both currently vacant and ready for occupancy. Based on previous rental history, the property has the potential to generate up to $2,400 per month in total rental income. Additional highlights include off-street driveway parking and a large rear storage shed, adding convenience for both tenants and owners. Ideally located just minutes from major employers, including Tesla, this property is well-positioned to benefit from strong and consistent rental demand. Whether you're looking to expand your investment portfolio or occupy one unit while generating income from the other, 53 Sirret Street presents a fantastic opportunity!

16. 2025-02-06
    status Pending
17. 2025-02-06
    historical
18. 2025-01-28
    price $187,500
19. 2024-12-02
    listed $194,900 Active
20. 2023-09-29
    soldstatus $55,000 Closed Sale or Rented
21. 2023-09-29
    soldstatus $55,000
22. 2023-08-10
    status Under Contract- Do Not Show
23. 2023-08-04
    listed $44,900 Active
24. 2023-04-25
    historical
25. 2023-04-07
    listed $49,900 Active
26. 2023-04-03
    soldstatus $33,500
27. 2019-08-16
    historical
28. 2019-07-31
    listed $72,000 Active
29. 2014-07-31
    soldstatus $15,500
30. 2006-08-28
    soldstatus $28,000
31. 2005-08-10
    soldstatus $14,900

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 77% 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: $29,316
• − Mortgage interest: −$8,957
• − Property taxes: −$2,398
• − Insurance: −$1,466
• − Repairs & maintenance: −$2,345
• − Management: −$2,345
• − Depreciation: −$4,652
• Taxable income: $7,152
• Est. tax owed @ 24.0%: −$1,717
• After-tax cash flow: $7,516/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): 24,428
• Household income: $70,963
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 602.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 6% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 10% Cuban 1%
• Common ancestry: Romanian 16% Lithuanian 1% Subsaharan African 1%
• Foreign-born: 4% · Canada, Jamaica, China
• Languages at home: 90% English-only · Spanish 4% Chinese 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: ▼ -146.29%
• Current HPI: 402.5053
• Rent YoY: ▲ 7.62%
• 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

+973.2% since first listed

17 events — show timeline

• 2026-04-10 Listed $159,900 WNYREIS
• 2025-02-06 Pending — WNYREIS
• 2025-02-06 Listing Removed — WNYREIS
• 2025-01-28 Price Changed $187,500 WNYREIS
• 2024-12-02 Listed $194,900 WNYREIS
• 2023-09-29 Sold (Public Records) $55,000 Public Records
• 2023-09-29 Sold (MLS) $55,000 WNYREIS
• 2023-08-10 Pending — WNYREIS
• 2023-08-04 Listed $44,900 WNYREIS
• 2023-04-25 Listing Removed — WNYREIS
• 2023-04-07 Listed $49,900 WNYREIS
• 2023-04-03 Sold (Public Records) $33,500 Public Records
• 2019-08-16 Listing Removed — WNYREIS
• 2019-07-31 Listed $72,000 WNYREIS
• 2014-07-31 Sold (Public Records) $15,500 Public Records
• 2006-08-28 Sold (Public Records) $28,000 Public Records
• 2005-08-10 Sold (Public Records) $14,900 Public Records

Property tax history

+1.9%/yr

Latest (2025): $247 · +0.0% YoY. Source: county tax records.