253 Hazelwood Ave · Buffalo, NY 14215

$65,000

3 bd · 2.0 ba · 1,402 sqft · MultiFamily public records · 4 Days on market

Built 1932 3,780 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Listed well below the assessed value! Located on a quiet street in a fantastic heavy owner occupied area in the Hazelwood-Easton block club. Almost all major mechanicals updated in the past 5 years: New Water heater 2012, New main drain 2012, Electrical Service and Breaker Box replaced 2012, Sump Pump installed 2013, New Furnace installed 2014, and a Full Tear off roof 2015! Interior has been updated with flooring, paint, some windows and bathroom updates. First floor bath features a Corian countertop vanity and newer faucet. Formerly rented for $925/mo - grossing $11,100/yr in income. The new owner could convert second floor into a fourth bedroom or back into a 2 unit for even more income potential or have a tenant help pay your mortgage! Come check out this home today!

Key facts

• 3,780 sq ft lot
• Built 1932
• Listed 4 days

🏷️ Possibly a rental listed for sale. The $65,000 price doesn't fit this home's estimated sale value (~$138,798) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $65k.

Deal economics

• At list price, monthly cash flow is $678 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Cap rate 18.8% 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: Rents flat; 237 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 36% 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 $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 9y ago 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.
• Current owner paid $35k; list at $65k implies a 84% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,000

Questions for the listing agent

1. Built in 1932 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.08% ✓
• Cap rate: 18.82%
• Cash-on-cash: 44.73%
• DSCR: 2.99
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $138,798
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
265 Hagen St	0.28mi	3/2.0	1,344 (-4%)	8mo	$172,000	$128	74
112 Hazelwood Ave	0.27mi	4/2.0 (+1)	1,498 (+7%)	1mo	$87,000	$58	70
78 Freund St	0.48mi	4/2.0 (+1)	1,426 (+2%)	3mo	$130,000	$91	67
124 Roma Ave	0.22mi	4/2.0 (+1)	1,520 (+8%)	5mo	$235,000	$155	67
213 Hagen St	0.37mi	4/2.0 (+1)	1,509 (+8%)	9mo	$150,000	$99	58
64 Preston Rd	0.49mi	3/2.0	1,560 (+11%)	17mo	$120,000	$77	44
376 Norfolk Ave	0.73mi	4/2.0 (+1)	1,536 (+10%)	3mo	$160,000	$104	42
20 Ericson Ave	0.60mi	4/2.0 (+1)	1,563 (+12%)	16mo	$123,000	$79	35
50 Newburgh Ave	0.72mi	4/2.0 (+1)	1,519 (+8%)	20mo	$135,000	$89	31
26 Andrews Ave	0.61mi	4/2.0 (+1)	1,586 (+13%)	16mo	$195,000	$123	31
89 Fisher St	0.47mi	4/2.0 (+1)	1,197 (-15%)	21mo	$155,000	$129	31
96 Cloverdale Ave	0.61mi	4/2.0 (+1)	1,574 (+12%)	18mo	$121,000	$77	31

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: 39.2%
• Equity multiple: 2.62×
• Total profit: $29,564
• Equity at exit: $9,692

10-year hold

• IRR: 44.5%
• Equity multiple: 4.80×
• Total profit: $69,183
• Equity at exit: $5,620

Cash invested: $18,200 (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: 237
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,353 high
• Mortgage (P&I): −$341
• Tax from tax record: −$22 /mo · $269/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $678

Break-even live

Break-even rent $494

Max offer price $65,000

Occupancy floor 45%

Sensitivity live

Price	-10% $715	-5% $697	+0% $678	+5% $660	+10% $642
Rent	-10% $572	-5% $625	+0% $678	+5% $732	+10% $785
Rate	-1.0pp $711	-0.5pp $695	base $678	+0.5pp $662	+1.0pp $644

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
71 Gerald Ave Buffalo, NY	2.0	1.0	1773	$1,100	$0.62	44d	1	0.26mi
61 Courtland Ave Unit Lower Buffalo, NY	2.0	1.0	1000	$1,300	$1.30	44d	1	0.33mi
249 Newburgh Ave Unit 2 Buffalo, NY	2.0	1.0	930	$1,300	$1.40	44d	1	0.33mi
17 Proctor Ave Unit 1 Buffalo, NY	2.0	1.0	900	$1,100	$1.22	44d	1	0.36mi
216 Newburgh Ave Buffalo, NY	2.0	1.0	1690	$1,150	$0.68	24d	1	0.40mi
74 Dorris Ave Buffalo, NY	3.0	1.0	1200	$1,450	$1.21	44d	1	0.49mi
103 Preston Rd Unit Lower Cheektowaga, NY	2.0	1.0	882	$1,300	$1.47	3d	1	0.53mi
85 Blake St Unit 1 Buffalo, NY	4.0	2.0	1022	$1,000	$0.98	44d	1	0.72mi
65 Domedion Ave Buffalo, NY	3.0	1.0	1632	$1,500	$0.92	2d	1	0.77mi
50 Pine Ridge Ter Unit 3 Cheektowaga, NY	2.0	1.0	900	$1,400	$1.56	17d	1	0.78mi
97 Davidson Ave Buffalo, NY	3.0	1.0	925	$1,495	$1.62	2d	1	0.79mi
90 Sussex St Unit 2 Buffalo, NY	2.0	1.0	1000	$1,000	$1.00	44d	1	1.01mi
189 Westminster Ave Buffalo, NY	4.0	1.5	1065	$1,595	$1.50	11d	1	1.06mi
11 Kaufman Dr Buffalo, NY	2.0	1.0	900	$1,500	$1.67	44d	1	1.07mi
67 Moeller St Unit UPPER Buffalo, NY	3.0	1.0	960	$1,000	$1.04	3d	1	1.11mi
67 Moeller St Unit LOWER Buffalo, NY	3.0	1.0	960	$1,200	$1.25	24d	1	1.11mi
140 Parkridge Ave Buffalo, NY	3.0	1.0	990	$1,500	$1.52	44d	1	1.19mi
24 Euclid Ave Buffalo, NY	3.0	2.0	1150	$1,700	$1.48	44d	1	1.32mi
220 Dartmouth Ave Buffalo, NY	2.0	1.0	1000	$1,100	$1.10	24d	1	1.33mi
143 Reo Ave Buffalo, NY	3.0	2.0	1143	$1,600	$1.40	12d	1	1.35mi
517 Goodyear Ave Buffalo, NY	3.0	1.0	1559	$1,800	$1.15	19d	1	1.36mi
979 Walden Ave Buffalo, NY	4.0	3.0	1793	$2,000	$1.12	2d	1	1.38mi
1202 Walden Ave Unit 3 Buffalo, NY	3.0	1.0	1500	$1,400	$0.93	17d	1	1.47mi

Listing history 11 events

1. 2026-05-04
   status Pending
2. 2026-04-20
   historical
3. 2026-04-16
   listed $65,000 Active
4. 2022-12-18
   historical
5. 2022-07-18
   listed $99,900 Active
6. 2017-12-20
   soldstatus $35,300 Closed Sale or Rented 781-char remark

   Show marketing remark (781 chars)

   Listed well below the assessed value! Located on a quiet street in a fantastic heavy owner occupied area in the Hazelwood-Easton block club. Almost all major mechanicals updated in the past 5 years: New Water heater 2012, New main drain 2012, Electrical Service and Breaker Box replaced 2012, Sump Pump installed 2013, New Furnace installed 2014, and a Full Tear off roof 2015! Interior has been updated with flooring, paint, some windows and bathroom updates. First floor bath features a Corian countertop vanity and newer faucet. Formerly rented for $925/mo - grossing $11,100/yr in income. The new owner could convert second floor into a fourth bedroom or back into a 2 unit for even more income potential or have a tenant help pay your mortgage! Come check out this home today!

7. 2017-12-20
   soldstatus $35,300

   Show marketing remark (781 chars)

   Listed well below the assessed value! Located on a quiet street in a fantastic heavy owner occupied area in the Hazelwood-Easton block club. Almost all major mechanicals updated in the past 5 years: New Water heater 2012, New main drain 2012, Electrical Service and Breaker Box replaced 2012, Sump Pump installed 2013, New Furnace installed 2014, and a Full Tear off roof 2015! Interior has been updated with flooring, paint, some windows and bathroom updates. First floor bath features a Corian countertop vanity and newer faucet. Formerly rented for $925/mo - grossing $11,100/yr in income. The new owner could convert second floor into a fourth bedroom or back into a 2 unit for even more income potential or have a tenant help pay your mortgage! Come check out this home today!

8. 2017-11-28
   status Pending Sale 781-char remark

   Show marketing remark (781 chars)

   Listed well below the assessed value! Located on a quiet street in a fantastic heavy owner occupied area in the Hazelwood-Easton block club. Almost all major mechanicals updated in the past 5 years: New Water heater 2012, New main drain 2012, Electrical Service and Breaker Box replaced 2012, Sump Pump installed 2013, New Furnace installed 2014, and a Full Tear off roof 2015! Interior has been updated with flooring, paint, some windows and bathroom updates. First floor bath features a Corian countertop vanity and newer faucet. Formerly rented for $925/mo - grossing $11,100/yr in income. The new owner could convert second floor into a fourth bedroom or back into a 2 unit for even more income potential or have a tenant help pay your mortgage! Come check out this home today!

9. 2017-11-17
   status Under Contract- Do Not Show 781-char remark

   Show marketing remark (781 chars)

   Listed well below the assessed value! Located on a quiet street in a fantastic heavy owner occupied area in the Hazelwood-Easton block club. Almost all major mechanicals updated in the past 5 years: New Water heater 2012, New main drain 2012, Electrical Service and Breaker Box replaced 2012, Sump Pump installed 2013, New Furnace installed 2014, and a Full Tear off roof 2015! Interior has been updated with flooring, paint, some windows and bathroom updates. First floor bath features a Corian countertop vanity and newer faucet. Formerly rented for $925/mo - grossing $11,100/yr in income. The new owner could convert second floor into a fourth bedroom or back into a 2 unit for even more income potential or have a tenant help pay your mortgage! Come check out this home today!

10. 2017-11-09
    listed $24,900 Active 781-char remark

    Show marketing remark (781 chars)

    Listed well below the assessed value! Located on a quiet street in a fantastic heavy owner occupied area in the Hazelwood-Easton block club. Almost all major mechanicals updated in the past 5 years: New Water heater 2012, New main drain 2012, Electrical Service and Breaker Box replaced 2012, Sump Pump installed 2013, New Furnace installed 2014, and a Full Tear off roof 2015! Interior has been updated with flooring, paint, some windows and bathroom updates. First floor bath features a Corian countertop vanity and newer faucet. Formerly rented for $925/mo - grossing $11,100/yr in income. The new owner could convert second floor into a fourth bedroom or back into a 2 unit for even more income potential or have a tenant help pay your mortgage! Come check out this home today!

11. 1994-03-29
    soldstatus $23,000

ⓘ 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: $269 · $22/mo
• Projected year-2 tax: $684 · $57/mo
• Expected delta: +$415/yr (+$35/mo · 154.2%)

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

Taxation est. · year 1

• Rental income: $16,236
• − Mortgage interest: −$3,641
• − Property taxes: −$269
• − Insurance: −$325
• − Repairs & maintenance: −$1,299
• − Management: −$1,299
• − Depreciation: −$1,891
• Taxable income: $7,512
• Est. tax owed @ 24.0%: −$1,803
• After-tax cash flow: $6,339/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

+182.6% since first listed

11 events — show timeline

• 2026-05-04 Pending — WNYREIS
• 2026-04-20 Listing Removed — WNYREIS
• 2026-04-16 Listed $65,000 WNYREIS
• 2022-12-18 Listing Removed — WNYREIS
• 2022-07-18 Listed $99,900 WNYREIS
• 2017-12-20 Sold (Public Records) $35,300 Public Records
• 2017-12-20 Sold (MLS) $35,300 WNYREIS
• 2017-11-28 Pending — WNYREIS
• 2017-11-17 Pending — WNYREIS
• 2017-11-09 Listed $24,900 WNYREIS
• 1994-03-29 Sold (Public Records) $23,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $269 · +0.0% YoY. Source: county tax records.