460 Berkshire Ave · Buffalo, NY 14215

$154,900

4 bd · 1.0 ba · 1,255 sqft · SingleFamily public records · 55 Days on market

Built 1925 3,300 sqft lot $123/sqft · 11% below area Est $175k · 11% under

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Why this score? — see what drove the C+ 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 +22.4/30.0
• ARV discount +12.6/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 460 Berkshire Avenue. Talk about a move-in condition home in the University Heights neighborhood in Buffalo. This home offers a spacious living room with hardwood floors that opens to a large formal dining room. Kitchen is complete with oak cabinets with beautiful laminate flooring. All appliances are negotiable. Upstairs has 3 bedrooms with great closet space and a bonus walk-thru room. There is beautiful wall to wall carpeting in the downstairs bedroom and up the stairs into all the upstairs bedrooms. This home has a clean basement with glass block windows. The exterior. .. Talk about nice! The low maintenance vinyl siding and newer tear-off roof (May 2021) offer a beautiful exterior to the property. The exterior also includes a large front porch and a newer fully fenced back yard.

Key facts

• Bonus walk-thru room
• Laminate flooring
• Oak cabinets

Tags

• SPACIOUS LIVING ROOM
• LARGE FORMAL DINING ROOM
• OAK CABINETS
• LAMINATE FLOORING
• GREAT CLOSET SPACE
• BONUS WALK-THRU ROOM

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $150k (3.0% below list) — sets the bar for market timing.

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 flat; 239 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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).
• This rent runs 45% of the median local income ($45k/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.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 9y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $150,253 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 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 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: 1.09% ✓
• Cap rate: 8.30%
• Cash-on-cash: 7.16%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

• ARV (median comp): $174,812
• List price: $154,900
• Delta: -11.39%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
496 Berkshire Ave	0.07mi	3/1.0 (-1)	1,266 (+1%)	1mo	$125,000	$99	90
622 Lasalle Ave	0.29mi	4/1.0	1,258 (+0%)	3mo	$115,000	$91	84
461 Stockbridge Ave	0.03mi	3/1.0 (-1)	1,336 (+6%)	4mo	$96,500	$72	80
601 Lasalle Ave	0.25mi	4/1.0	1,188 (-5%)	1mo	$165,000	$139	78
153 Stockbridge Ave	0.46mi	3/1.0 (-1)	1,248 (-1%)	3mo	$150,000	$120	70
59 Martha Ave	0.49mi	3/1.0 (-1)	1,282 (+2%)	1mo	$149,000	$116	68
37 Elmer Ave	0.51mi	4/1.0	1,327 (+6%)	0mo	$170,000	$128	67
99 Fennimore Ave	0.31mi	3/1.0 (-1)	1,100 (-12%)	3mo	$115,000	$105	57
358 Hastings Ave	0.65mi	3/1.0 (-1)	1,152 (-8%)	2mo	$128,500	$112	50
223 Phyllis Ave	0.51mi	3/1.0 (-1)	1,082 (-14%)	0mo	$68,500	$63	48
29 Allendale Rd	0.71mi	3/1.5 (-1)	1,364 (+9%)	0mo	$155,000	$114	45
28 Cedar Rd	0.74mi	3/1.5 (-1)	1,407 (+12%)	3mo	$240,000	$171	36

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 · 0.67% rent growth · sell at horizon

5-year hold

• IRR: -8.0%
• Equity multiple: 0.71×
• Total profit: $-12,441
• Equity at exit: $23,096

10-year hold

• IRR: -1.7%
• Equity multiple: 0.89×
• Total profit: $-4,595
• Equity at exit: $13,393

Cash invested: $43,372 (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 14215

• Home prices YoY: -30.0%
• Rents YoY: 0.7%
• Active inventory: 239
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,683 high
• Mortgage (P&I): −$812
• Tax est. 1.5%: −$194 /mo · $2,324/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $259

Break-even live

Break-even rent $1,355

Max offer price $154,900

Occupancy floor 80%

Sensitivity live

Price	-10% $366	-5% $312	+0% $259	+5% $205	+10% $152
Rent	-10% $126	-5% $192	+0% $259	+5% $325	+10% $392
Rate	-1.0pp $337	-0.5pp $298	base $259	+0.5pp $219	+1.0pp $178

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
189 Westminster Ave Buffalo, NY	4.0	1.5	1065	$1,595	$1.50	11d	1	0.19mi
97 Davidson Ave Buffalo, NY	3.0	1.0	925	$1,495	$1.62	2d	1	0.27mi
140 Parkridge Ave Buffalo, NY	3.0	1.0	990	$1,500	$1.52	44d	1	0.57mi
263 Minnesota Ave Unit Upper Buffalo, NY	3.0	1.0	1242	$1,500	$1.21	15d	1	0.57mi
265 Lisbon Ave Unit 2 Buffalo, NY	3.0	1.0	1200	$1,400	$1.17	44d	1	0.58mi
222 Lisbon Ave Buffalo, NY	4.0	1.0	1300	$1,400	$1.08	24d	1	0.67mi
222 Lisbon Ave Unit Upper Buffalo, NY	3.0	1.0	1400	$1,400	$1.00	44d	1	0.67mi
65 Northrup Pl Buffalo, NY	5.0	2.0	1467	$2,500	$1.70	15d	1	0.89mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,997	$2.93	2d	10	0.91mi
74 Dorris Ave Buffalo, NY	3.0	1.0	1200	$1,450	$1.21	44d	1	1.03mi
60 Englewood Ave Buffalo, NY	4.0	1.0	1400	$1,650	$1.18	2d	1	1.17mi
44 Aurora Dr Buffalo, NY	3.0	1.0	1272	$3,300	$2.59	2d	1	1.29mi
91 Springville Ave Buffalo, NY	4.0	2.0	1660	$2,350	$1.42	24d	1	1.42mi

Listing history 48 events

1. 2026-06-15
   days on market $154,900 Active 55 DOM
2. 2026-06-13
   days on market $154,900 Active 53 DOM
3. 2026-06-13
   days on market $154,900 Active 52 DOM
4. 2026-06-10
   days on market $154,900 Active 50 DOM
5. 2026-06-09
   days on market $154,900 Active 49 DOM
6. 2026-06-08
   days on market $154,900 Active 48 DOM
7. 2026-06-07
   days on market $154,900 Active 47 DOM
8. 2026-06-03
   days on market $154,900 Active 43 DOM
9. 2026-06-02
   days on market $154,900 Active 42 DOM
10. 2026-06-01
    days on market $154,900 Active 41 DOM
11. 2026-05-31
    days on market $154,900 Active 40 DOM
12. 2026-05-08
    price $154,900 805-char remark

    Show marketing remark (805 chars)

    Welcome to 460 Berkshire Avenue. Talk about a move-in condition home in the University Heights neighborhood in Buffalo. This home offers a spacious living room with hardwood floors that opens to a large formal dining room. Kitchen is complete with oak cabinets with beautiful laminate flooring. All appliances are negotiable. Upstairs has 3 bedrooms with great closet space and a bonus walk-thru room. There is beautiful wall to wall carpeting in the downstairs bedroom and up the stairs into all the upstairs bedrooms. This home has a clean basement with glass block windows. The exterior. .. Talk about nice! The low maintenance vinyl siding and newer tear-off roof (May 2021) offer a beautiful exterior to the property. The exterior also includes a large front porch and a newer fully fenced back yard.

13. 2026-04-21
    listed $175,000 Active 805-char remark

    Show marketing remark (805 chars)

    Welcome to 460 Berkshire Avenue. Talk about a move-in condition home in the University Heights neighborhood in Buffalo. This home offers a spacious living room with hardwood floors that opens to a large formal dining room. Kitchen is complete with oak cabinets with beautiful laminate flooring. All appliances are negotiable. Upstairs has 3 bedrooms with great closet space and a bonus walk-thru room. There is beautiful wall to wall carpeting in the downstairs bedroom and up the stairs into all the upstairs bedrooms. This home has a clean basement with glass block windows. The exterior. .. Talk about nice! The low maintenance vinyl siding and newer tear-off roof (May 2021) offer a beautiful exterior to the property. The exterior also includes a large front porch and a newer fully fenced back yard.

14. 2023-05-23
    status Pending Sale
15. 2023-05-18
    historical
16. 2023-05-11
    price $131,333
17. 2023-05-11
    status Active
18. 2023-02-17
    status Pending Sale
19. 2023-01-20
    price $99,900
20. 2023-01-17
    price $130,000
21. 2023-01-16
    historical
22. 2023-01-16
    listed $99,900 Active
23. 2022-11-16
    price $130,000
24. 2022-10-04
    price $149,900
25. 2022-09-08
    price $154,900
26. 2022-08-25
    status Active
27. 2022-08-15
    status Pending Sale
28. 2022-07-29
    listed $159,900 Active
29. 2021-09-15
    soldstatus $135,000
30. 2021-09-10
    soldstatus $135,000 Closed Sale or Rented
31. 2021-07-27
    status Pending Sale
32. 2021-07-16
    status Under Contract- Do Not Show
33. 2021-07-09
    status Active
34. 2021-07-09
    historical
35. 2021-07-08
    listed $119,900 Active
36. 2021-04-05
    soldstatus $110,000
37. 2021-03-30
    soldstatus $110,000 Closed Sale or Rented
38. 2021-02-12
    status Under Contract- Do Not Show
39. 2021-02-04
    listed $99,000 Active
40. 2020-11-05
    status Under Contract- Do Not Show
41. 2020-11-05
    status Active
42. 2020-10-20
    historical
43. 2020-10-07
    status Under Contract- Do Not Show
44. 2020-09-14
    listed $89,900 Active
45. 2017-06-21
    historical
46. 2017-06-19
    listed $54,900 Active
47. 2007-02-15
    soldstatus $35,500
48. 2003-07-31
    soldstatus $18,000

ⓘ 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: $20,193
• − Mortgage interest: −$8,677
• − Property taxes: −$2,324
• − Insurance: −$774
• − Repairs & maintenance: −$1,615
• − Management: −$1,615
• − Depreciation: −$4,506
• Taxable income: $681
• Est. tax owed @ 24.0%: −$164
• After-tax cash flow: $2,943/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): 42,524
• Household income: $44,955
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 2873.0

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 (67%)
• Race & ethnicity: Black 67% White 15% Asian 7% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada, China
• Languages at home: 88% English-only · Other Indo-European 4% 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: ▼ -126.29%
• Current HPI: 295.2966
• Rent YoY: ▲ 0.67%
• 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

+760.6% since first listed

37 events — show timeline

• 2026-05-08 Price Changed $154,900 WNYREIS
• 2026-04-21 Listed $175,000 WNYREIS
• 2023-05-23 Pending — WNYREIS
• 2023-05-18 Listing Removed — WNYREIS
• 2023-05-11 Price Changed $131,333 WNYREIS
• 2023-05-11 Relisted — WNYREIS
• 2023-02-17 Pending — WNYREIS
• 2023-01-20 Price Changed $99,900 WNYREIS
• 2023-01-17 Price Changed $130,000 WNYREIS
• 2023-01-16 Listed $99,900 WNYREIS
• 2023-01-16 Listing Removed — WNYREIS
• 2022-11-16 Price Changed $130,000 WNYREIS
• 2022-10-04 Price Changed $149,900 WNYREIS
• 2022-09-08 Price Changed $154,900 WNYREIS
• 2022-08-25 Relisted — WNYREIS
• 2022-08-15 Pending — WNYREIS
• 2022-07-29 Listed $159,900 WNYREIS
• 2021-09-15 Sold (Public Records) $135,000 Public Records
• 2021-09-10 Sold (MLS) $135,000 WNYREIS
• 2021-07-27 Pending — WNYREIS
• 2021-07-16 Pending — WNYREIS
• 2021-07-09 Relisted — WNYREIS
• 2021-07-09 Listing Removed — WNYREIS
• 2021-07-08 Listed $119,900 WNYREIS
• 2021-04-05 Sold (Public Records) $110,000 Public Records
• 2021-03-30 Sold (MLS) $110,000 WNYREIS
• 2021-02-12 Pending — WNYREIS
• 2021-02-04 Listed $99,000 WNYREIS
• 2020-11-05 Pending — WNYREIS
• 2020-11-05 Relisted — WNYREIS
• 2020-10-20 Listing Removed — WNYREIS
• 2020-10-07 Pending — WNYREIS
• 2020-09-14 Listed $89,900 WNYREIS
• 2017-06-21 Listing Removed — WNYREIS
• 2017-06-19 Listed $54,900 WNYREIS
• 2007-02-15 Sold (Public Records) $35,500 Public Records
• 2003-07-31 Sold (Public Records) $18,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $230 · +0.0% YoY. Source: county tax records.