157 W Winspear Ave · Buffalo, NY 14214

$244,900

6 bd · 2.0 ba · 2,280 sqft · MultiFamily · 7 Days on market

Built 1962 Good condition 4,360 sqft lot $107/sqft · 45% below area Est $442k · 45% under

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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 +28.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Schools +3.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Nestled on a quiet dead-end street just steps from the bike path and within walking distance to the University of Buffalo South Campus, this well maintained duplex offers a blend of location, lifestyle and income potential. Featuring its newly painted siding for enhanced curb appeal, this property is move in-ready and easy to maintain. Each unit offers 3 bedrooms and one full bathroom. Both units have spacious and bright living areas filled with natural light. Generous layouts provide comfortable living with plenty of room to relax or entertain. A versatile property offering both lifestyle and income potential. Offer deadline set for Monday, 5/11 at Noon.

Key facts

• 4,360 sq ft lot
• 2 garage spots
• Built 1962

Property features AI

Finance

• Financial info: Operating expenses include maintenance, professional management, snow removal, and water; Owner pays grounds care, snow removal, and water; Rent may include gardener, snow removal, and water

Exterior

• Parking: Detached or attached 2-car garage; Concrete parking; Two or more parking spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Resale property
• Construction: Brick, vinyl siding, and wood siding exterior; Existing construction
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 40 x 109 ft

Interior

• Kitchen: Gas water heater
• Bedrooms: Two-unit property (multifamily) — bedrooms per unit not specified
• Flooring: Hardwood; Laminate; Varies
• Bathrooms: Two full bathrooms (total)
• Heating & cooling: Gas heating; Baseboard heat; Forced air heat
• Interior features: Full basement
• Laundry & utility: Separate gas and electric meters for each unit

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1-bath units multifamily listed at $245k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $834 ($10k/yr) — positive. Per door: $417/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $245k).
• Cap rate 10.4% vs local median 8.1% in Buffalo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Zoned schools: International School (math 8% / reading 17%, grade F, #2,048 of 2,108 statewide, top 97%, 981 students, 92% FRL); Hutchinson Central Technical High School (math 96% / reading 32%, grade B-, #807 of 1,100 statewide, top 73%, 1,175 students, 78% FRL).
• Market conditions: Rents rising fast (+5.8%/yr); 92 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,198/mo this rent would consume 66% of the median local household income ($58k/yr) (locally 1820% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $69k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $244,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.31% ✓
• Cap rate: 10.38%
• Cash-on-cash: 14.59%
• DSCR: 1.65
• GRM: 6.4

CMA / ARV

• ARV (median comp): $441,823
• List price: $244,900
• Delta: -44.57%
• 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
150 Englewood Ave	0.27mi	6/2.0	2,239 (-2%)	6mo	$338,000	$151	80
39 Custer St	0.18mi	6/2.0	2,323 (+2%)	18mo	$275,000	$118	73
235 Heath St	0.24mi	6/2.0	2,058 (-10%)	10mo	$303,000	$147	64
20 Hawthorne Ave	0.56mi	6/2.0	2,208 (-3%)	11mo	$312,000	$141	59
116 Nicholson St	0.37mi	6/2.0	2,464 (+8%)	13mo	$151,000	$61	58
366 Beard Ave	0.40mi	6/2.0	2,482 (+9%)	17mo	$400,000	$161	53
192 Lisbon Ave	0.59mi	6/2.0	2,526 (+11%)	4mo	$247,000	$98	51
19 Dunlop Ave	0.74mi	5/2.0 (-1)	2,160 (-5%)	6mo	$160,000	$74	47
266 Lasalle Ave	0.71mi	6/3.5	2,395 (+5%)	8mo	$350,000	$146	46
5 Dunlop Ave	0.72mi	6/2.0	2,212 (-3%)	19mo	$330,000	$149	46
1829 Hertel Ave	0.54mi	6/2.0	2,528 (+11%)	17mo	$365,000	$144	43
1 Emsworth Ave	0.62mi	5/3.0 (-1)	2,482 (+9%)	17mo	$250,000	$101	33

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 · 5.81% rent growth · sell at horizon

5-year hold

• IRR: 8.2%
• Equity multiple: 1.33×
• Total profit: $22,776
• Equity at exit: $36,515

10-year hold

• IRR: 19.7%
• Equity multiple: 2.88×
• Total profit: $128,834
• Equity at exit: $21,174

Cash invested: $68,572 (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 14214

• Rents YoY: 5.8%
• Active inventory: 92
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $3,198 high
• Mortgage (P&I): −$1,284
• Tax est. 1.5%: −$306 /mo · $3,674/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$672
• Net cashflow: $834

Break-even live

Break-even rent $2,142

Max offer price $244,900

Occupancy floor 69%

Sensitivity live

Price	-10% $1,003	-5% $919	+0% $834	+5% $749	+10% $665
Rent	-10% $581	-5% $708	+0% $834	+5% $960	+10% $1,087
Rate	-1.0pp $957	-0.5pp $896	base $834	+0.5pp $771	+1.0pp $706

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,198
Total (2 units)			$3,198

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: $61,225
• Closing costs: $7,347
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
133 Merrimac St Buffalo, NY	7.0	2.0	2327	$4,450	$1.91	17d	1	0.19mi
24 Custer St Buffalo, NY	5.0	2.0	2500	$3,000	$1.20	17d	1	0.24mi
196 Englewood Ave Unit Lower Buffalo, NY	5.0	1.5	2560	$2,000	$0.78	0d	1	0.28mi
85 Highgate Ave Buffalo, NY	5.0	2.0	2193	$3,750	$1.71	17d	1	0.44mi
145 Minnesota Ave Buffalo, NY	7.0	2.0	2551	$4,900	$1.92	17d	1	0.55mi
175 Lisbon Ave Buffalo, NY	5.0	2.0	2000	$2,500	$1.25	17d	1	0.59mi
80 Capen Blvd Buffalo, NY	5.0	2.5	2591	$2,800	$1.08	0d	1	0.71mi
4098 Bailey Ave Buffalo, NY	5.0	2.5	2108	$2,200	$1.04	46d	1	1.36mi

Listing history 2 events

1. 2026-05-12
   status Pending 663-char remark
2. 2026-05-05
   listed $244,900 Active 663-char remark

ⓘ 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: $38,376
• − Mortgage interest: −$13,718
• − Property taxes: −$3,674
• − Insurance: −$1,224
• − Repairs & maintenance: −$3,070
• − Management: −$3,070
• − Depreciation: −$7,124
• Taxable income: $6,495
• Est. tax owed @ 24.0%: −$1,559
• After-tax cash flow: $8,449/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.

Condition & rehab AI · 1 photo

Good 75/100 Cosmetic rehab

This well-maintained duplex is move-in ready and offers a blend of location, lifestyle, and income potential.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and maintains property value
• Both Upgrade landscaping — Improves curb appeal and enhances property value
• Both Replace windows — Improves energy efficiency and enhances property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and maintains property value ↑
• Both Upgrade landscaping — Improves curb appeal and enhances property value ↑
• Both Replace windows — Improves energy efficiency and enhances property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 21,314
• Household income: $58,228
• Rent vs Own: 57.7% rent · 42.3% own
• Severe rent burden: 1820.0

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 0.67)
• Race & ethnicity: White 47% Black 31% Asian 11% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 5% Lithuanian 2% Scotch-Irish 1%
• Foreign-born: 14% · Canada, China
• Languages at home: 81% English-only · Other Indo-European 7% Spanish 4% 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: ▼ -282.52%
• Current HPI: 373.377
• Rent YoY: ▲ 5.81%
• 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

• 2026-05-12 Pending — WNYREIS
• 2026-05-05 Listed $244,900 WNYREIS