31 Riverside Ave · Buffalo, NY 14207

$154,900

4 bd · 2.0 ba · 1,762 sqft · Townhouse public records · 17 Days on market

Built 1910 3,300 sqft lot Est $173k · 10% 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 +25.0/30.0
• ARV discount +12.1/15.0
• DSCR +8.1/10.0
• 1% rule +5.2/10.0
• Rent growth +4.5/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Well-maintained 2-family double located in the Riverside area! This solid investment or owner-occupant opportunity offers spacious units with thoughtful updates throughout. The lower unit features 2 bedrooms and 1 full bath and has been freshly painted throughout. The updated kitchen boasts new flooring, solid surface countertops with a stylish new backsplash, and modern cabinets with soft-close doors and full-extension drawers. The bathroom has new flooring, a new toilet, and a new vanity. Both bedrooms offer brand-new carpeting, and the front foyer has a new floor and new closet doors. The upper unit includes 2 bedrooms, 1 full bath, a kitchen, dining room, and a large living room, plus a

Key facts

• Modern cabinets
• Thoughtful updates
• Updated kitchen

Tags

• SPACIOUS UNITS
• THOUGHTFUL UPDATES
• UPDATED KITCHEN
• SOLID SURFACE COUNTERTOPS
• STYLISH NEW BACKSPLASH
• MODERN CABINETS

Property features AI

Finance

• Other: Lot dimensions approximately 30 x 110
• Financial info: Property configured as a 2-unit building; Separate gas and electric meters for each unit; Gross rental income listed at $18,000; Operating expenses listed at $6,293 (includes accounting, insurance, legal, maintenance, supplies, water/sewer); Unit rents shown: one unit at $750 (leased through Feb 1, 2027), one unit at $900; Owner pays trash collection and water

Exterior

• Parking: Concrete parking with one space
• Utilities: Electricity connected (circuit breakers); Public water connected; Sewer connected; High-speed internet available; Cable available
• Home design: Two-story multifamily residence; Existing/resale property
• Construction: Asphalt roof; Vinyl siding; Block foundation; Copper plumbing; Attic/crawl hatchway insulation
• Exterior features: Open porch; Porch entry; Rectangular residential lot with city street frontage; Near public transit

Interior

• Kitchen: Oven/range; Refrigerator; Eat-in kitchen in units; Dining area adjoining living room
• Bedrooms: Two-bedroom units (each unit has 2 bedrooms)
• Flooring: Combination of hardwood, carpet and luxury vinyl
• Bathrooms: Two full bathrooms total (one full bathroom per unit)
• Heating & cooling: Gas heating with forced air; Space heaters; HVAC energy-efficient component noted
• Interior features: Ceiling fans; Original/natural woodwork; Storm windows with wood frames; Thermal windows
• Laundry & utility: Gas water heater; Sump pump in partial crawl space basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $155k.

Deal economics

• At list price, monthly cash flow is $337 ($4k/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: $153k (1.5% 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 rising fast (+8.2%/yr); 197 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $1,585/mo this rent would consume 48% of the median local household income ($40k/yr) (locally 2177% 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 + 8.0% rent growth), your $43k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $152,576 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.02% ✓
• Cap rate: 8.90%
• Cash-on-cash: 9.32%
• DSCR: 1.41
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $172,676
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
239 Crowley Ave	0.35mi	4/2.0	1,932 (+10%)	5mo	$215,000	$111	64
27 Garfield St	0.62mi	4/2.0	1,850 (+5%)	4mo	$154,000	$83	59
99 Briggs Ave	0.13mi	4/2.0	1,932 (+10%)	22mo	$140,000	$72	59
78 Wyandotte Ave	0.74mi	4/2.0	2,000 (+14%)	8mo	$195,000	$98	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 2.7%
• Equity multiple: 1.11×
• Total profit: $4,665
• Equity at exit: $23,096

10-year hold

• IRR: 16.2%
• Equity multiple: 2.60×
• Total profit: $69,529
• 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 14207

• Home prices YoY: -18.9%
• Rents YoY: 8.2%
• Active inventory: 197
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,585 medium
• Mortgage (P&I): −$812
• Tax from tax record: −$38 /mo · $460/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $337

Break-even live

Break-even rent $1,158

Max offer price $154,900

Occupancy floor 74%

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 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
61 Baxter St Buffalo, NY	3.0	1.0	2014	$1,400	$0.70	2d	1	0.44mi
62 Seabrook St Buffalo, NY	4.0	1.0	1300	$2,000	$1.54	2d	1	0.98mi
78 Germain St Buffalo, NY	3.0	1.0	2030	$1,300	$0.64	14d	1	1.29mi
62 Germain St Buffalo, NY	3.0	1.0	1320	$1,250	$0.95	24d	1	1.32mi

Listing history 4 events

1. 2026-04-09
   status Pending
2. 2026-03-27
   status Active
3. 2026-03-02
   status Pending
4. 2026-02-26
   listed $154,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $460 · $38/mo
• Projected year-2 tax: $1,539 · $128/mo
• Expected delta: +$1,079/yr (+$90/mo · 234.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,019
• − Mortgage interest: −$8,677
• − Property taxes: −$460
• − Insurance: −$774
• − Repairs & maintenance: −$1,522
• − Management: −$1,522
• − Depreciation: −$4,506
• Taxable income: $1,559
• Est. tax owed @ 24.0%: −$374
• After-tax cash flow: $3,669/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): 26,327
• Household income: $39,753
• Rent vs Own: 65.0% rent · 35.0% own
• Severe rent burden: 2177.0

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: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: White 40% Hispanic / Latino 23% Black 16% Asian 15% Two or more races 14%
• Hispanic origin (detail): Puerto Rican 18% Dominican 2%
• Common ancestry: Romanian 8% Portuguese 1% Arab 1%
• Foreign-born: 19% · Philippines, Canada, India
• Languages at home: 65% English-only · Spanish 14% Other Asian/Pacific 10% Other Indo-European 5%

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: ▼ -54.42%
• Current HPI: 233.0902
• Rent YoY: ▲ 8.19%
• 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

4 events — show timeline

• 2026-04-09 Pending — WNYREIS
• 2026-03-27 Relisted — WNYREIS
• 2026-03-02 Pending — WNYREIS
• 2026-02-26 Listed $154,900 WNYREIS

Property tax history

+7.0%/yr

Latest (2025): $460 · +0.0% YoY. Source: county tax records.