171 Landon St · Buffalo, NY 14208

$179,900

6 bd · 2.0 ba · 2,156 sqft · Townhouse public records · 179 Days on market

Built 1900 3,360 sqft lot $83/sqft · 28% below area Est $250k · 28% under

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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 +27.2/30.0
• ARV discount +15.0/15.0
• DSCR +9.4/10.0
• 1% rule +7.4/10.0
• 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 171 Landon St. Nestled in a family-friendly neighborhood. This is a completely overhauled Two family house with a front porch and full basement. The home has been recently revitalized with new paint, Some new flooring, a new tear-off roof installed in 2025, enhancing both its appeal and long-term value. Both units have separate utilities i. e. 2 electric meters and 2 gas meters. The lower unit offers 3 bedrooms, Living, Dining, Kitchen and 1 full bathroom. The upper unit has 3 bedrooms, a dining area with living Room, kitchen and a full bathroom. Presently the upper unit is vacant and the lower unit tenant occupied. The full attic is partially finished, featuring 2 bedrooms, a full bathroom and potential space to build an additional kitchen—opening the door to added rental income or extended living accommodations. This property presents an excellent opportunity for investors seeking passive income, as well as homeowners looking for comfort, convenience, and versatility. Close to major amenities, shops, and transportation, this home is perfectly situated for everyday living. Don’t miss out on this exceptional opportunity in Buffalo!

Key facts

• Separate utilities
• Front porch
• Full basement

Tags

• FRONT PORCH
• FULL BASEMENT
• NEW TEAR OFF ROOF
• SEPARATE UTILITIES
• PARTIALLY FINISHED ATTIC
• CLOSE TO MAJOR AMENITIES

🏷️ Possibly a rental listed for sale. The $179,900 price doesn't fit this home's estimated sale value (~$250,051) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath townhouse listed at $180k.

Deal economics

• At list price, monthly cash flow is $513 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 8.0% in Buffalo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: 54 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 $2,223/mo this rent would consume 55% of the median local household income ($48k/yr) (locally 723% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 179 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y ago; this cycle's ask is 6% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $35k; list at $180k implies a 414% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $158,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 179 days. Have you received any prior offers? Is the seller open to a 12% 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. 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.
7. 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.
8. 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: 1.24% ✓
• Cap rate: 9.71%
• Cash-on-cash: 12.22%
• DSCR: 1.54
• GRM: 6.7

CMA / ARV

• ARV (median comp): $250,051
• List price: $179,900
• Delta: -28.05%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
175 Timon St	0.35mi	6/2.0	2,381 (+10%)	5mo	$240,000	$101	62
277 Herman St	0.74mi	6/2.0	2,040 (-5%)	8mo	$222,000	$109	50
34 Earl Pl	0.66mi	5/2.0 (-1)	2,334 (+8%)	2mo	$225,000	$96	49
67 Urban St	0.56mi	6/2.0	2,438 (+13%)	5mo	$275,000	$113	47
251 Florida St	0.71mi	6/2.0	2,353 (+9%)	15mo	$90,000	$38	39

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: 1.8%
• Equity multiple: 1.07×
• Total profit: $3,539
• Equity at exit: $26,824

10-year hold

• IRR: 11.4%
• Equity multiple: 1.90×
• Total profit: $45,269
• Equity at exit: $15,554

Cash invested: $50,372 (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: 54
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,223 medium
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $513

Break-even live

Break-even rent $1,574

Max offer price $179,900

Occupancy floor 72%

Sensitivity live

Price	-10% $637	-5% $575	+0% $513	+5% $451	+10% $388
Rent	-10% $337	-5% $425	+0% $513	+5% $601	+10% $688
Rate	-1.0pp $603	-0.5pp $559	base $513	+0.5pp $466	+1.0pp $419

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
518 Wilson St Buffalo, NY	5.0	1.5	1848	$1,500	$0.81	25d	1	0.83mi
15 Hughes Ave Buffalo, NY	7.0	2.0	1650	$3,000	$1.82	45d	1	1.03mi

Listing history 13 events

1. 2026-06-03
   status $179,900 Pending 179 DOM
2. 2026-06-02
   days on market $179,900 Active 179 DOM
3. 2026-06-01
   days on market $179,900 Active 178 DOM
4. 2026-05-31
   days on market $179,900 Active 177 DOM
5. 2026-04-06
   price $179,900 1174-char remark

   Show marketing remark (1174 chars)

   Welcome to 171 Landon St. Nestled in a family-friendly neighborhood. This is a completely overhauled Two family house with a front porch and full basement. The home has been recently revitalized with new paint, Some new flooring, a new tear-off roof installed in 2025, enhancing both its appeal and long-term value. Both units have separate utilities i. e. 2 electric meters and 2 gas meters. The lower unit offers 3 bedrooms, Living, Dining, Kitchen and 1 full bathroom. The upper unit has 3 bedrooms, a dining area with living Room, kitchen and a full bathroom. Presently the upper unit is vacant and the lower unit tenant occupied. The full attic is partially finished, featuring 2 bedrooms, a full bathroom and potential space to build an additional kitchen—opening the door to added rental income or extended living accommodations. This property presents an excellent opportunity for investors seeking passive income, as well as homeowners looking for comfort, convenience, and versatility. Close to major amenities, shops, and transportation, this home is perfectly situated for everyday living. Don’t miss out on this exceptional opportunity in Buffalo!

6. 2026-02-20
   price $174,900 1174-char remark

   Show marketing remark (1174 chars)

   Welcome to 171 Landon St. Nestled in a family-friendly neighborhood. This is a completely overhauled Two family house with a front porch and full basement. The home has been recently revitalized with new paint, Some new flooring, a new tear-off roof installed in 2025, enhancing both its appeal and long-term value. Both units have separate utilities i. e. 2 electric meters and 2 gas meters. The lower unit offers 3 bedrooms, Living, Dining, Kitchen and 1 full bathroom. The upper unit has 3 bedrooms, a dining area with living Room, kitchen and a full bathroom. Presently the upper unit is vacant and the lower unit tenant occupied. The full attic is partially finished, featuring 2 bedrooms, a full bathroom and potential space to build an additional kitchen—opening the door to added rental income or extended living accommodations. This property presents an excellent opportunity for investors seeking passive income, as well as homeowners looking for comfort, convenience, and versatility. Close to major amenities, shops, and transportation, this home is perfectly situated for everyday living. Don’t miss out on this exceptional opportunity in Buffalo!

7. 2025-12-05
   listed $169,900 Active 1174-char remark

   Show marketing remark (1174 chars)

   Welcome to 171 Landon St. Nestled in a family-friendly neighborhood. This is a completely overhauled Two family house with a front porch and full basement. The home has been recently revitalized with new paint, Some new flooring, a new tear-off roof installed in 2025, enhancing both its appeal and long-term value. Both units have separate utilities i. e. 2 electric meters and 2 gas meters. The lower unit offers 3 bedrooms, Living, Dining, Kitchen and 1 full bathroom. The upper unit has 3 bedrooms, a dining area with living Room, kitchen and a full bathroom. Presently the upper unit is vacant and the lower unit tenant occupied. The full attic is partially finished, featuring 2 bedrooms, a full bathroom and potential space to build an additional kitchen—opening the door to added rental income or extended living accommodations. This property presents an excellent opportunity for investors seeking passive income, as well as homeowners looking for comfort, convenience, and versatility. Close to major amenities, shops, and transportation, this home is perfectly situated for everyday living. Don’t miss out on this exceptional opportunity in Buffalo!

8. 2016-05-20
   soldstatus $35,000 Closed Sale or Rented 562-char remark

   Show marketing remark (562 chars)

   Great investment close to downtown. This home was well-maintained for many years and has beautiful woodwork and charming glass door kitchen cabinets. Updates include replacement windows, a newer roof, and electric service. Lower brings in $550 and upper was rented for $500. Finished attic includes kitchen area, bath with shower, living/dinning space and 2 extra rooms with closets, was another $400 but could make an amazing 2 story unit. Upper is vacant and ready to rent with a fresh coat of paint. They don't build them like this anymore. Come see it today.

9. 2016-04-12
   status Pending Sale 562-char remark

   Show marketing remark (562 chars)

   Great investment close to downtown. This home was well-maintained for many years and has beautiful woodwork and charming glass door kitchen cabinets. Updates include replacement windows, a newer roof, and electric service. Lower brings in $550 and upper was rented for $500. Finished attic includes kitchen area, bath with shower, living/dinning space and 2 extra rooms with closets, was another $400 but could make an amazing 2 story unit. Upper is vacant and ready to rent with a fresh coat of paint. They don't build them like this anymore. Come see it today.

10. 2016-03-22
    listed $39,900 Active 562-char remark

    Show marketing remark (562 chars)

    Great investment close to downtown. This home was well-maintained for many years and has beautiful woodwork and charming glass door kitchen cabinets. Updates include replacement windows, a newer roof, and electric service. Lower brings in $550 and upper was rented for $500. Finished attic includes kitchen area, bath with shower, living/dinning space and 2 extra rooms with closets, was another $400 but could make an amazing 2 story unit. Upper is vacant and ready to rent with a fresh coat of paint. They don't build them like this anymore. Come see it today.

11. 2016-03-05
    historical
12. 2015-02-13
    listed $39,900
13. 2013-05-22
    listed $43,000

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,673
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$2,134
• − Management: −$2,134
• − Depreciation: −$5,233
• Taxable income: $3,497
• Est. tax owed @ 24.0%: −$839
• After-tax cash flow: $5,314/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

+318.4% since first listed

9 events — show timeline

• 2026-04-06 Price Changed $179,900 WNYREIS
• 2026-02-20 Price Changed $174,900 WNYREIS
• 2025-12-05 Listed $169,900 WNYREIS
• 2016-05-20 Sold (MLS) $35,000 WNYREIS
• 2016-04-12 Pending — WNYREIS
• 2016-03-22 Listed $39,900 WNYREIS
• 2016-03-05 Listing Removed — WNYREIS
• 2015-02-13 Listed $39,900 WNYREIS
• 2013-05-22 Listed $43,000 WNYREIS

Property tax history

+5.4%/yr

Latest (2025): $202 · +0.0% YoY. Source: county tax records.