98 Sage Ave · Buffalo, NY 14210

$179,900

4 bd · 1.0 ba · 1,754 sqft · SingleFamily public records · 18 Days on market

Built 1910 5,075 sqft lot Est $207k · 13% 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 +14.6/30.0
• ARV discount +13.4/15.0
• Appreciation +10.0/10.0
• Rent growth +5.0/5.0
• DSCR +4.5/10.0
• 1% rule +4.1/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0

Listing remarks

Step inside to discover a welcoming foyer in this charming well maintained 5 bedroom 2 story home. Eat in kitchen that offers a blend of charm and warmth. Formal dining room with spacious living room which is great for family gatherings. Wood pocket doors and lots of natural wood work add so much beauty to the home. The attic offers potential to be finished with extra living space. Large closet in the front hall and plenty of storage. Additional updates include in 2025; new tear off roof(10 year transferable warranty), new gutters and fascia, new furnace and hot water tank, new sewer line and sump pump. Showing request 2 hours notice.

Key facts

• Formal dining room
• Wood pocket doors
• Eat in kitchen

Tags

• WELCOMING FOYER
• EAT IN KITCHEN
• FORMAL DINING ROOM
• SPACIOUS LIVING ROOM
• WOOD POCKET DOORS
• NATURAL WOOD WORK

Property features AI

Exterior

• Parking: No garage
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: Two-story single-family home; Existing construction
• Construction: Composite siding; Asphalt roof; Stone foundation; Built (existing)
• Exterior features: Blacktop driveway; Concrete driveway; Partial fencing; Fence; Near public transit; Rectangular residential lot; City street frontage (35 x 145)

Interior

• Kitchen: Free-standing range; Oven; Microwave; Refrigerator
• Bedrooms: Five bedrooms — all located on the second floor
• Flooring: Ceramic tile; Hardwood; Varies
• Bathrooms: One full bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Ceiling fans; Separate/formal dining room; Eat-in kitchen; Pantry; Natural woodwork; Has full basement with sump pump
• Laundry & utility: Dryer; Laundry located in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-13 ($-151/yr) — negative.
• To cash-flow at today's rent, offer at most $178k (1.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (9.5% below list).
• Recommended offer: $163k (9.5% below list) — sets the bar for 1% rule.

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).
• This rent runs 36% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.

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 $162,813 (9.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. 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: 0.91% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.02%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $206,972
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
29 Pomona Pl	0.16mi	3/1.0 (-1)	1,771 (+1%)	4mo	$91,000	$51	82
123 Unger Ave	0.24mi	3/1.0 (-1)	1,788 (+2%)	4mo	$135,000	$76	77
65 Hammerschmidt Ave	0.32mi	3/1.5 (-1)	1,620 (-8%)	1mo	$195,000	$120	64
104 Weimar St	0.45mi	3/1.0 (-1)	1,549 (-12%)	5mo	$172,900	$112	50
55 Princeton Pl	0.67mi	5/1.0 (+1)	1,617 (-8%)	2mo	$190,000	$118	49
175 Cable St	0.61mi	3/1.0 (-1)	1,582 (-10%)	3mo	$100,000	$63	48
45 Clio Ave	0.74mi	4/1.5	1,627 (-7%)	8mo	$175,000	$108	45
258 Holly St	0.69mi	4/2.0	1,594 (-9%)	4mo	$245,000	$154	45
202 S Ogden St	0.66mi	3/1.0 (-1)	1,592 (-9%)	6mo	$205,500	$129	44
109 Stevenson St	0.50mi	3/1.0 (-1)	1,500 (-14%)	6mo	$230,000	$153	43
236 Weimar St	0.65mi	3/1.0 (-1)	1,544 (-12%)	4mo	$165,000	$107	41
238 S Ogden St	0.69mi	4/1.5	1,565 (-11%)	8mo	$228,000	$146	41

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: 25.9%
• Equity multiple: 3.10×
• Total profit: $105,841
• Equity at exit: $162,068

10-year hold

• IRR: 24.2%
• Equity multiple: 7.63×
• Total profit: $333,746
• Equity at exit: $349,506

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 14210

• Home prices YoY: 13.8%
• Rents YoY: 12.7%
• Active inventory: 94
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,628 medium
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $-13

Break-even live

Break-even rent $1,644

Max offer price $178,081

Occupancy floor 96%

Sensitivity live

Price	-10% $112	-5% $50	+0% $-13	+5% $-75	+10% $-137
Rent	-10% $-141	-5% $-77	+0% $-13	+5% $52	+10% $116
Rate	-1.0pp $78	-0.5pp $33	base $-13	+0.5pp $-59	+1.0pp $-107

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
89 Macamley St #2 Buffalo, NY	3.0	1.0	1274	$1,100	$0.86	11d	1	0.91mi
74 Woodside Ave Unit 1 Buffalo, NY	3.0	1.0	1250	$1,510	$1.21	2d	1	1.47mi

Listing history 2 events

1. 2026-04-17
   status Pending
2. 2026-03-30
   listed $179,900 Active

ⓘ 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) · 76% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $19,538
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$1,566
• − Repairs & maintenance: −$1,563
• − Management: −$1,563
• − Depreciation: −$5,233
• Taxable loss: −$3,164
• Est. tax savings @ 24.0%: +$759
• After-tax cash flow: $608/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

2 events — show timeline

• 2026-04-17 Pending — WNYREIS
• 2026-03-30 Listed $179,900 WNYREIS

Property tax history

+5.0%/yr

Latest (2025): $7 · +0.0% YoY. Source: county tax records.