219 Nassau Ave · Kenmore, NY 14217

$239,900

4 bd · 2.0 ba · 2,136 sqft · MultiFamily public records · 47 Days on market

Built 1930 3,829 sqft lot Est $316k · 24% 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 +16.8/30.0
• ARV discount +15.0/15.0
• 1% rule +6.7/10.0
• DSCR +5.2/10.0
• Rent growth +4.9/5.0
• Livability +4.0/5.0
• Schools +3.9/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Today is your opportunity to own a wonderful multi-family home in the heart of Kenmore. Updates include, replacement windows, newer tear-off roof, 2.5 garage built in 2006, and glass block basement windows. Each unit includes two bedrooms, large living room, formal dining room, kitchen and bath. The home features hardwood flooring throughout both units, basement laundry, upper and lower porches and there are no rear neighbors. This is a great, solid home, in a highly-desirable are, with Ken-Ton schools. This is a great investment or you can live in one unit and have the rental income from the other unit help pay your mortgage.

Key facts

• Large living room
• Replacement windows
• Newer garage door

Tags

• FULLY EQUIPPED KITCHEN
• DESIGNATED DINING AREA
• LARGE LIVING ROOM
• PRIVATE WALK OUT PORCH
• REPLACEMENT WINDOWS
• NEWER GARAGE DOOR

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $154 ($2k/yr) — positive. Per door: $77/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $233k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 3.0% in Kenmore — 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 80/100 on livability (#114 in NY, #1,843 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: crime D-, commute F.
• Kenmore-Tonawanda Union Free School District (suburban): math 44% / reading 47% proficiency, ranked #453 of 590 in NY (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+9.8%/yr); 99 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,802/mo this rent would consume 46% of the median local household income ($74k/yr) (locally 727% 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 + 8.0% rent growth), your $67k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 13y 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 $160k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $232,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is D 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?
8. 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.
9. 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.
10. 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: 1.17% ✓
• Cap rate: 7.06%
• Cash-on-cash: 2.76%
• DSCR: 1.12
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $316,128
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
219 Nassau Ave	0.00mi	4/2.0	2,136 (0%)	1mo	$230,000	$108	100
299 Nassau Ave	0.14mi	4/2.0	2,116 (-1%)	9mo	$205,000	$97	85
187 Nassau Ave	0.07mi	4/2.0	2,312 (+8%)	11mo	$315,000	$136	74
1110 Englewood Ave	0.50mi	4/2.0	2,188 (+2%)	11mo	$323,500	$148	63
92 Tremont Ave	0.75mi	4/2.0	2,160 (+1%)	5mo	$240,000	$111	59
27 Hobmoor Ave	0.74mi	5/2.0 (+1)	2,140 (+0%)	3mo	$321,600	$150	57
137 Delaware Rd	0.45mi	5/2.0 (+1)	2,288 (+7%)	11mo	$355,000	$155	53
248 Euclid Ave	0.42mi	5/2.0 (+1)	2,005 (-6%)	21mo	$297,000	$148	48
180 Euclid Ave	0.45mi	5/2.0 (+1)	1,836 (-14%)	7mo	$230,000	$125	45
49 Hobmoor Ave	0.70mi	4/2.0	1,894 (-11%)	10mo	$343,000	$181	40
76 Bering Ave	0.54mi	5/2.0 (+1)	2,313 (+8%)	22mo	$240,000	$104	38
42 Delaney Ave	0.73mi	4/2.0	1,915 (-10%)	24mo	$371,000	$194	29

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: -5.3%
• Equity multiple: 0.79×
• Total profit: $-13,953
• Equity at exit: $35,770

10-year hold

• IRR: 10.4%
• Equity multiple: 2.03×
• Total profit: $69,070
• Equity at exit: $20,742

Cash invested: $67,172 (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 14217

• Home prices YoY: -34.3%
• Rents YoY: 9.8%
• Active inventory: 99
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $2,802 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$701 /mo · $8,416/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $154

Break-even live

Break-even rent $2,607

Max offer price $239,900

Occupancy floor 90%

Sensitivity live

Price	-10% $290	-5% $222	+0% $154	+5% $86	+10% $18
Rent	-10% $-67	-5% $44	+0% $154	+5% $265	+10% $376
Rate	-1.0pp $275	-0.5pp $215	base $154	+0.5pp $92	+1.0pp $29

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,802
Total (2 units)			$2,802

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
351 Stillwell Ave Buffalo, NY	3.0	1.0	2586	$1,800	$0.70	24d	1	0.22mi
172 Tremont Ave Kenmore, NY	3.0	1.5	1569	$2,500	$1.59	11d	1	0.91mi
309 N Park Ave Buffalo, NY	3.0	1.0	2560	$1,750	$0.68	15d	1	0.97mi
307 Sterling Ave Buffalo, NY	3.0	1.0	1632	$1,800	$1.10	4d	1	1.00mi
2514 Delaware Ave Unit 1 Buffalo, NY	3.0	1.0	1620	$1,650	$1.02	2d	1	1.12mi
359 Colvin Ave Buffalo, NY	3.0	1.0	2010	$2,100	$1.04	24d	1	1.12mi
77 Lovering Ave #2 Buffalo, NY	3.0	1.0	1450	$1,895	$1.31	44d	1	1.18mi
88 Commonwealth Ave Buffalo, NY	3.0	1.0	2710	$1,695	$0.63	12d	1	1.38mi
79 Commonwealth Ave Buffalo, NY	3.0	1.0	1450	$1,600	$1.10	24d	1	1.39mi
146 Wallace Ave Buffalo, NY	3.0	1.0	2706	$1,700	$0.63	44d	1	1.49mi
163 Carmel Rd Buffalo, NY	3.0	1.0	1400	$1,800	$1.29	3d	1	1.50mi

Listing history 25 events

1. 2026-04-01
   status Pending
2. 2026-03-16
   price $239,900
3. 2026-02-13
   listed $249,999 Active
4. 2025-08-22
   historical $1,150
5. 2025-08-16
   listed $1,150
6. 2024-09-19
   historical
7. 2024-09-14
   listed
8. 2021-02-12
   soldstatus $160,000
9. 2021-02-10
   soldstatus $160,000 Closed Sale or Rented 634-char remark

   Show marketing remark (634 chars)

   Today is your opportunity to own a wonderful multi-family home in the heart of Kenmore. Updates include, replacement windows, newer tear-off roof, 2.5 garage built in 2006, and glass block basement windows. Each unit includes two bedrooms, large living room, formal dining room, kitchen and bath. The home features hardwood flooring throughout both units, basement laundry, upper and lower porches and there are no rear neighbors. This is a great, solid home, in a highly-desirable are, with Ken-Ton schools. This is a great investment or you can live in one unit and have the rental income from the other unit help pay your mortgage.

10. 2020-12-08
    status Pending Sale 634-char remark

    Show marketing remark (634 chars)

    Today is your opportunity to own a wonderful multi-family home in the heart of Kenmore. Updates include, replacement windows, newer tear-off roof, 2.5 garage built in 2006, and glass block basement windows. Each unit includes two bedrooms, large living room, formal dining room, kitchen and bath. The home features hardwood flooring throughout both units, basement laundry, upper and lower porches and there are no rear neighbors. This is a great, solid home, in a highly-desirable are, with Ken-Ton schools. This is a great investment or you can live in one unit and have the rental income from the other unit help pay your mortgage.

11. 2020-11-25
    status Under Contract- Do Not Show 634-char remark

    Show marketing remark (634 chars)

    Today is your opportunity to own a wonderful multi-family home in the heart of Kenmore. Updates include, replacement windows, newer tear-off roof, 2.5 garage built in 2006, and glass block basement windows. Each unit includes two bedrooms, large living room, formal dining room, kitchen and bath. The home features hardwood flooring throughout both units, basement laundry, upper and lower porches and there are no rear neighbors. This is a great, solid home, in a highly-desirable are, with Ken-Ton schools. This is a great investment or you can live in one unit and have the rental income from the other unit help pay your mortgage.

12. 2020-11-18
    historical

    Show marketing remark (634 chars)

    Today is your opportunity to own a wonderful multi-family home in the heart of Kenmore. Updates include, replacement windows, newer tear-off roof, 2.5 garage built in 2006, and glass block basement windows. Each unit includes two bedrooms, large living room, formal dining room, kitchen and bath. The home features hardwood flooring throughout both units, basement laundry, upper and lower porches and there are no rear neighbors. This is a great, solid home, in a highly-desirable are, with Ken-Ton schools. This is a great investment or you can live in one unit and have the rental income from the other unit help pay your mortgage.

13. 2020-11-18
    listed $159,999 Active 634-char remark

    Show marketing remark (634 chars)

    Today is your opportunity to own a wonderful multi-family home in the heart of Kenmore. Updates include, replacement windows, newer tear-off roof, 2.5 garage built in 2006, and glass block basement windows. Each unit includes two bedrooms, large living room, formal dining room, kitchen and bath. The home features hardwood flooring throughout both units, basement laundry, upper and lower porches and there are no rear neighbors. This is a great, solid home, in a highly-desirable are, with Ken-Ton schools. This is a great investment or you can live in one unit and have the rental income from the other unit help pay your mortgage.

14. 2020-10-27
    price $169,999
15. 2020-10-19
    price $172,500
16. 2020-09-29
    listed $175,000 Active
17. 2017-12-22
    soldstatus $160,000 Closed Sale or Rented
18. 2017-12-22
    soldstatus $160,000
19. 2017-10-27
    status Pending Sale
20. 2017-10-20
    status Under Contract- Do Not Show
21. 2017-10-09
    listed $159,900 Active
22. 2013-05-03
    soldstatus $115,500
23. 2013-04-22
    soldstatus $115,500
24. 2013-02-08
    listed $109,777
25. 1997-08-28
    soldstatus $95,000

ⓘ 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: $8,416 · $701/mo
• Projected year-2 tax: $8,416 · $701/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°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: $33,624
• − Mortgage interest: −$13,438
• − Property taxes: −$8,416
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,690
• − Management: −$2,690
• − Depreciation: −$6,979
• Taxable loss: −$1,788
• Est. tax savings @ 24.0%: +$429
• After-tax cash flow: $2,280/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: Kenmore-Tonawanda Union Free School District
• NCES district ID: 3616230
• Math proficiency: 44% ▼ -12.00%
• Reading proficiency: 47% ▼ -1.00%
• Median HH income: $51,433
• Composite: 39.18/100
• National rank: #4024
• State rank: #453 of 590 in NY

Livability — Kenmore

• Score: 80/100
• State rank: #114
• US rank: #1843

Category grades

Amenities A+ Commute F Cost of living B+ Crime D- Employment A Housing A+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kenmore, NY
• County: Erie County · 714,559 people
• City population: 22,566
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 22,471
• Household income: $73,800
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 727.0

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 White (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 6% Black 5%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 13% Italian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 3% Arabic 1% Russian/Polish/Slavic 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: ▼ -172.52%
• Current HPI: 330.7596
• Rent YoY: ▲ 9.76%
• 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

+152.5% since first listed

25 events — show timeline

• 2026-04-01 Pending — WNYREIS
• 2026-03-16 Price Changed $239,900 WNYREIS
• 2026-02-13 Listed $249,999 WNYREIS
• 2025-08-22 Rental Removed $1,150 BUILDIUM
• 2025-08-16 Listed for Rent $1,150 BUILDIUM
• 2024-09-19 Rental Removed — BUILDIUM
• 2024-09-14 Listed for Rent — BUILDIUM
• 2021-02-12 Sold (Public Records) $160,000 Public Records
• 2021-02-10 Sold (MLS) $160,000 WNYREIS
• 2020-12-08 Pending — WNYREIS
• 2020-11-25 Pending — WNYREIS
• 2020-11-18 Listed $159,999 WNYREIS
• 2020-11-18 Listing Removed — WNYREIS
• 2020-10-27 Price Changed $169,999 WNYREIS
• 2020-10-19 Price Changed $172,500 WNYREIS
• 2020-09-29 Listed $175,000 WNYREIS
• 2017-12-22 Sold (Public Records) $160,000 Public Records
• 2017-12-22 Sold (MLS) $160,000 WNYREIS
• 2017-10-27 Pending — WNYREIS
• 2017-10-20 Pending — WNYREIS
• 2017-10-09 Listed $159,900 WNYREIS
• 2013-05-03 Sold (Public Records) $115,500 Public Records
• 2013-04-22 Sold (MLS) $115,500 WNYREIS
• 2013-02-08 Listed $109,777 WNYREIS
• 1997-08-28 Sold (Public Records) $95,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $8,416 · +1.3% YoY. Source: county tax records.