349 Riverside Ave · Buffalo, NY 14207

$164,900

4 bd · 1.5 ba · 1,107 sqft · SingleFamily public records · 66 Days on market

Built 1932 3,000 sqft lot $149/sqft · 22% below area Est $211k · 22% 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 +19.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• Rent growth +4.5/5.0
• Livability +3.9/5.0
• 1% rule +3.8/10.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming single-family home at 349 Riverside Ave in Buffalo offers a fantastic opportunity for both owner-occupants and investors. Featuring 4 bedroom and 1 bathrooms, the layout includes a convenient first-floor bedroom ideal for accessibility or flexible living arrangements. The property boasts solid mechanical systems, ensuring reliability and peace of mind. Additional highlights include a full basement providing ample storage or potential for customization, and off-street parking for multiple vehicles. Located near public transportation and shopping, this home combines comfort with convenience in a desirable Buffalo neighborhood. Whether you're looking to settle in or add to your investment portfolio, this residence delivers great value and potential.

Key facts

• First-floor bedroom
• Full basement
• Shopping

Tags

• FIRST-FLOOR BEDROOM
• FULL BASEMENT
• OFF-STREET PARKING
• PUBLIC TRANSPORTATION
• SHOPPING
• DESIRABLE NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $189 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (11.7% below list).
• Recommended offer: $146k (11.7% 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 (+8.2%/yr); 197 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 44% of the median local income ($40k/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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $46k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $22k; list at $165k implies a 650% 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 $145,670 (11.7% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1932 — 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: 0.88% ✗
• Cap rate: 7.67%
• Cash-on-cash: 4.91%
• DSCR: 1.22
• GRM: 9.4

CMA / ARV

• ARV (median comp): $211,387
• List price: $164,900
• Delta: -21.99%
• 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
56 Gallatin Ave	0.16mi	3/1.5 (-1)	1,052 (-5%)	2mo	$178,000	$169	78
82 Beatrice Ave	0.49mi	3/1.0 (-1)	1,166 (+5%)	2mo	$165,000	$142	59
19 Royal Ave	0.51mi	4/1.0	1,021 (-8%)	2mo	$159,547	$156	59
221 Newfield St	0.74mi	4/1.5	1,127 (+2%)	4mo	$75,000	$67	59
36 Layer Ave	0.54mi	3/1.0 (-1)	1,040 (-6%)	0mo	$185,000	$178	58
62 Chadduck Ave	0.39mi	3/1.0 (-1)	1,240 (+12%)	2mo	$155,000	$125	53
94 Farmer St	0.74mi	3/1.0 (-1)	1,100 (-1%)	6mo	$35,000	$32	53
63 Briggs Ave	0.43mi	3/1.0 (-1)	974 (-12%)	0mo	$180,000	$185	52
38 Wyandotte Ave	0.65mi	4/1.0	1,200 (+8%)	2mo	$150,000	$125	52
136 Newfield St	0.60mi	3/1.5 (-1)	1,198 (+8%)	2mo	$167,000	$139	52
195 Hertel Ave	0.55mi	3/1.0 (-1)	1,236 (+12%)	1mo	$110,000	$89	47
5 Ruhl Ave	0.53mi	3/1.0 (-1)	964 (-13%)	0mo	$234,100	$243	46

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: -3.9%
• Equity multiple: 0.85×
• Total profit: $-7,082
• Equity at exit: $24,587

10-year hold

• IRR: 10.2%
• Equity multiple: 1.95×
• Total profit: $44,004
• Equity at exit: $14,258

Cash invested: $46,172 (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: 9.4×

Monthly cashflow live

• Estimated rent: $1,457 high
• Mortgage (P&I): −$865
• Tax from tax record: −$28 /mo · $342/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $189

Break-even live

Break-even rent $1,218

Max offer price $164,900

Occupancy floor 82%

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
118 Rano St Buffalo, NY	3.0	1.0	1050	$1,200	$1.14	21d	1	0.18mi
134 Philadelphia St Buffalo, NY	3.0	1.0	871	$1,100	$1.26	2d	1	0.44mi
158 Chadduck Ave Buffalo, NY	4.0	1.0	1200	$1,250	$1.04	23d	1	0.47mi
15 Ontario St Unit 1 Buffalo, NY	3.0	1.0	1000	$1,500	$1.50	1d	1	0.56mi
480 W Hazeltine Ave Buffalo, NY	3.0	1.0	989	$1,900	$1.92	23d	1	0.76mi
72 Reservation St Unit 2 Buffalo, NY	3.0	1.0	950	$1,150	$1.21	23d	1	0.88mi
62 Seabrook St Buffalo, NY	4.0	1.0	1300	$2,000	$1.54	1d	1	0.89mi
62 Germain St Buffalo, NY	3.0	1.0	1320	$1,250	$0.95	23d	1	0.94mi
139 Fordham Dr Buffalo, NY	3.0	1.0	1453	$1,700	$1.17	23d	1	1.32mi
2522 Delaware Ave Buffalo, NY	3.0	1.0	1150	$1,625	$1.41	1d	1	1.46mi

Listing history 16 events

1. 2026-06-18
   days on market $164,900 Active 66 DOM
2. 2026-06-17
   days on market $164,900 Active 65 DOM
3. 2026-06-16
   days on market $164,900 Active 64 DOM
4. 2026-06-15
   days on market $164,900 Active 63 DOM
5. 2026-06-13
   days on market $164,900 Active 61 DOM
6. 2026-06-13
   days on market $164,900 Active 60 DOM
7. 2026-06-10
   days on market $164,900 Active 58 DOM
8. 2026-06-09
   days on market $164,900 Active 57 DOM
9. 2026-06-08
   days on market $164,900 Active 56 DOM
10. 2026-06-07
    days on market $164,900 Active 55 DOM
11. 2026-06-03
    days on market $164,900 Active 51 DOM
12. 2026-06-02
    days on market $164,900 Active 50 DOM
13. 2026-06-01
    days on market $164,900 Active 49 DOM
14. 2026-05-31
    days on market $164,900 Active 48 DOM
15. 2026-04-13
    listed $164,900 Active 770-char remark

    Show marketing remark (770 chars)

    This charming single-family home at 349 Riverside Ave in Buffalo offers a fantastic opportunity for both owner-occupants and investors. Featuring 4 bedroom and 1 bathrooms, the layout includes a convenient first-floor bedroom ideal for accessibility or flexible living arrangements. The property boasts solid mechanical systems, ensuring reliability and peace of mind. Additional highlights include a full basement providing ample storage or potential for customization, and off-street parking for multiple vehicles. Located near public transportation and shopping, this home combines comfort with convenience in a desirable Buffalo neighborhood. Whether you're looking to settle in or add to your investment portfolio, this residence delivers great value and potential.

16. 2012-05-29
    soldstatus $22,000

ⓘ 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: $342 · $28/mo
• Projected year-2 tax: $1,564 · $130/mo
• Expected delta: +$1,222/yr (+$102/mo · 357.6%)

ⓘ 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: $17,480
• − Mortgage interest: −$9,237
• − Property taxes: −$342
• − Insurance: −$824
• − Repairs & maintenance: −$1,398
• − Management: −$1,398
• − Depreciation: −$4,797
• Taxable loss: −$517
• Est. tax savings @ 24.0%: +$124
• After-tax cash flow: $2,390/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

+649.5% since first listed

2 events — show timeline

• 2026-04-13 Listed $164,900 WNYREIS
• 2012-05-29 Sold (Public Records) $22,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $342 · +0.0% YoY. Source: county tax records.