240 Herman St · Buffalo, NY 14211

$124,900

3 bd · 1.0 ba · 1,416 sqft · SingleFamily public records · 65 Days on market

Built 1900 3,960 sqft lot $88/sqft · at area comps Est $124k · at est.

---

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 +7.3/15.0
• Appreciation +6.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to 240 Herman St – a spacious single-family home in Buffalo’s east side! The lower level features 2 bedrooms, a generous living room, formal dining area, kitchen, and a full bathroom. The upper level offers 2 additional bedrooms with potential space to add another bathroom—perfect for extended family or customization. The home includes a providing ample storage or future living space, and a detached garage for added convenience. Located near major roads, schools, and amenities—this unique layout offers flexibility, space, and great potential! Offer will be reviewed as they become available!!!

Key facts

• Formal dining area
• Generous living room
• Detached garage

Tags

• DETACHED GARAGE
• GENEROUS LIVING ROOM
• FORMAL DINING AREA
• AMPLE STORAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $871 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $117k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.7% 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: 173 active listings in the ZIP; 18 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).
• At $2,195/mo this rent would consume 73% of the median local household income ($36k/yr) (locally 1804% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $3k of equity ($864 loan paydown + $3k appreciation (2.0% local appreciation)).
• At projected returns (2.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($117k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $117,406 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 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 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: 1.76% ✓
• Cap rate: 14.66%
• Cash-on-cash: 29.88%
• DSCR: 2.33
• GRM: 4.7

CMA / ARV

• ARV (median comp): $124,404
• List price: $124,900
• Delta: 4.42%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
255 Reed St	0.15mi	4/1.0 (+1)	1,294 (-9%)	6mo	$125,000	$97	69
513 High St	0.26mi	3/1.0	1,270 (-10%)	7mo	$95,000	$75	65
23 Guilford St	0.41mi	4/1.5 (+1)	1,322 (-7%)	1mo	$190,000	$144	62
189 Reed St	0.16mi	4/1.0 (+1)	1,261 (-11%)	10mo	$145,000	$115	62
635 Jefferson Ave	0.62mi	3/1.5	1,330 (-6%)	1mo	$220,000	$165	58
310 Woltz Ave	0.53mi	3/1.0	1,523 (+8%)	8mo	$107,500	$71	56
102 Guilford St	0.25mi	3/1.0	1,572 (+11%)	17mo	$134,500	$86	56
31 Walden Ave	0.61mi	4/2.0 (+1)	1,420 (+0%)	11mo	$31,000	$22	53
246 Strauss St	0.18mi	4/1.5 (+1)	1,608 (+14%)	13mo	$100,000	$62	51
162 Rose St	0.53mi	4/1.5 (+1)	1,336 (-6%)	11mo	$201,000	$150	50
70 Camp St	0.65mi	3/1.5	1,324 (-6%)	21mo	$245,000	$185	40
460 Monroe St	0.55mi	3/2.0	1,596 (+13%)	22mo	$144,000	$90	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 34.1%
• Equity multiple: 2.84×
• Total profit: $64,379
• Equity at exit: $49,596

10-year hold

• IRR: 35.3%
• Equity multiple: 5.56×
• Total profit: $159,492
• Equity at exit: $71,676

Cash invested: $34,972 (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 14211

• Home prices YoY: 0.6%
• Active inventory: 173
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,195 high
• Mortgage (P&I): −$655
• Tax est. 1.5%: −$156 /mo · $1,874/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $871

Break-even live

Break-even rent $1,093

Max offer price $124,900

Occupancy floor 55%

Sensitivity live

Price	-10% $957	-5% $914	+0% $871	+5% $828	+10% $785
Rent	-10% $698	-5% $784	+0% $871	+5% $958	+10% $1,044
Rate	-1.0pp $934	-0.5pp $903	base $871	+0.5pp $839	+1.0pp $806

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
983 Michigan Ave Buffalo, NY	2.0	1.0–2.0	804	$3,202	$3.98	3d	58	0.91mi
408 Winslow Ave Unit 2 Buffalo, NY	3.0	1.0	1000	$1,050	$1.05	15d	1	1.06mi
184 Butler Ave Unit 1545840P Buffalo, NY	4.0	1.0	1496	$3,226	$2.16	15d	1	1.20mi
104 Butler Ave Buffalo, NY	3.0	1.0	1000	$1,400	$1.40	45d	1	1.21mi
1152 Main St Apt 3 Buffalo, NY	3.0	1.0	1000	$2,400	$2.40	15d	1	1.26mi
76 Chester St Unit 1 Buffalo, NY	3.0	1.0	1100	$1,000	$0.91	15d	1	1.28mi
19 North St Buffalo, NY	2.0	1.0–2.0	1306	$2,910	$2.23	11d	7	1.29mi
628 Ellicott St Buffalo, NY	1.0–2.0	1.0–2.0	1059	$2,812	$2.65	3d	5	1.29mi
40 North St Unit 306 Buffalo, NY	2.0	1.5	1125	$1,950	$1.73	45d	1	1.32mi
17 N Pearl St Unit 3 Buffalo, NY	3.0	2.0	1197	$3,100	$2.59	25d	1	1.35mi
17 N Pearl St Buffalo, NY	2.0	2.0	1077	$2,700	$2.51	25d	1	1.35mi
489 Ellicott St Unit 36 Buffalo, NY	2.0	2.0	1000	$1,550	$1.55	4d	1	1.36mi
179 Donaldson Rd Buffalo, NY	3.0	1.0	1152	$1,350	$1.17	4d	1	1.36mi
44 N Pearl St #5 Buffalo, NY	3.0	1.0	1200	$2,400	$2.00	45d	1	1.36mi
130 Linwood Ave Buffalo, NY	2.0	1.0	900	$1,900	$2.11	25d	1	1.37mi
517 Goodyear Ave Buffalo, NY	3.0	1.0	1559	$1,800	$1.15	20d	1	1.40mi
88 W Utica St Unit 1 Buffalo, NY	3.0	2.0	990	$2,150	$2.17	4d	1	1.49mi
88 W Utica St Unit 1 Buffalo, NY	3.0	2.0	990	$2,150	$2.17	15d	1	1.49mi

Listing history 16 events

1. 2026-06-21
   pricedays on market $124,900 Active 65 DOM
2. 2026-06-18
   days on market $129,900 Active 62 DOM
3. 2026-06-17
   days on market $129,900 Active 61 DOM
4. 2026-06-16
   days on market $129,900 Active 60 DOM
5. 2026-06-15
   days on market $129,900 Active 59 DOM
6. 2026-06-13
   days on market $129,900 Active 57 DOM
7. 2026-06-13
   days on market $129,900 Active 56 DOM
8. 2026-06-10
   days on market $129,900 Active 54 DOM
9. 2026-06-09
   days on market $129,900 Active 53 DOM
10. 2026-06-08
    days on market $129,900 Active 52 DOM
11. 2026-06-07
    days on market $129,900 Active 51 DOM
12. 2026-06-03
    days on market $129,900 Active 47 DOM
13. 2026-06-02
    days on market $129,900 Active 46 DOM
14. 2026-06-01
    days on market $129,900 Active 45 DOM
15. 2026-05-31
    days on market $129,900 Active 44 DOM
16. 2026-04-17
    listed $129,900 Active 633-char remark

    Show marketing remark (633 chars)

    Welcome to 240 Herman St – a spacious single-family home in Buffalo’s east side! The lower level features 2 bedrooms, a generous living room, formal dining area, kitchen, and a full bathroom. The upper level offers 2 additional bedrooms with potential space to add another bathroom—perfect for extended family or customization. The home includes a providing ample storage or future living space, and a detached garage for added convenience. Located near major roads, schools, and amenities—this unique layout offers flexibility, space, and great potential! Offer will be reviewed as they become available!!!

ⓘ 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 2/10 Low 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: $26,340
• − Mortgage interest: −$6,996
• − Property taxes: −$1,874
• − Insurance: −$624
• − Repairs & maintenance: −$2,107
• − Management: −$2,107
• − Depreciation: −$3,633
• Taxable income: $8,998
• Est. tax owed @ 24.0%: −$2,160
• After-tax cash flow: $8,292/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): 24,663
• Household income: $36,300
• Rent vs Own: 54.8% rent · 45.2% own
• Severe rent burden: 1804.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Black 59% Asian 20% Hispanic / Latino 9% White 9% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 4%
• Foreign-born: 17% · Canada, Philippines, Vietnam
• Languages at home: 74% English-only · Other Indo-European 14% Spanish 6% Other Asian/Pacific 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: ▲ 2.05%
• Current HPI: 357.6438
• 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

1 event — show timeline

• 2026-04-17 Listed $129,900 WNYREIS

Property tax history

+4.6%/yr

Latest (2025): $129 · +0.0% YoY. Source: county tax records.