86 Edson St · Buffalo, NY 14210

$189,000

7 bd · 2.0 ba · 2,972 sqft · MultiFamily public records · 7 Days on market

Built 1900 3,672 sqft lot Est $265k · 29% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks MLS

Unique 2 unit property. Lower has 4 bedrooms. Upper has 3 bedrooms. Beautiful natural woodwork throughout the property. Gorgeous wood pillars as room divider for the upper unit between living room and dining room. Lower has a bright kitchen with plenty of cupboard space. Some hardwood floors. Home has had drain tiles installed for a dry basement. Sewer line from house to road and trap have recently been replaced.

Key facts

• 2 family multi
• Generous lot
• Proximity to parks

Tags

• 2 FAMILY MULTI
• STRONG CASH FLOW POTENTIAL
• GENEROUS LOT
• SOLID RENTAL DEMAND
• PROXIMITY TO PARKS
• TRANSIT

Property features AI

Finance

• Other: Two-unit building with separate gas and electric meters (2 each)
• Financial info: Owner pays water; Rent includes water (for multi-unit); Operating expenses include water/sewer

Exterior

• Parking: Two or more parking spaces
• Utilities: Public water connected; Sewer connected
• Home design: 2-story property; Existing (resale) condition; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 34 x 108

Interior

• Flooring: Laminate; Varies
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas forced air heating
• Interior features: Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $189k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $573/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $189k).
• Cap rate 13.6% 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 rising fast (+12.7%/yr); 94 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,854/mo this rent would consume 63% of the median local household income ($54k/yr) (locally 959% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $53k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 $132k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $189,000

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 1900 — 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: 1.51% ✓
• Cap rate: 13.57%
• Cash-on-cash: 26.00%
• DSCR: 2.16
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $264,508
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
50 Duerstein St	0.09mi	6/2.0 (-1)	2,956 (-0%)	3mo	$160,000	$54	88
41 Burch Ave	0.20mi	6/3.0 (-1)	2,822 (-5%)	10mo	$305,000	$108	64
109 Indian Church Rd	0.15mi	6/2.0 (-1)	2,780 (-6%)	19mo	$171,000	$62	61
118 Indian Church Rd	0.19mi	6/2.0 (-1)	2,552 (-14%)	8mo	$265,851	$104	56
85 Geary St	0.59mi	6/2.0 (-1)	2,780 (-6%)	2mo	$267,500	$96	54
35 Hayden St	0.69mi	7/3.0	3,012 (+1%)	18mo	$225,000	$75	47
321 Mineral Springs Rd	0.67mi	6/2.0 (-1)	2,958 (-0%)	21mo	$230,100	$78	45
97 Red Jacket Pkwy	0.65mi	6/2.0 (-1)	2,588 (-13%)	1mo	$220,000	$85	42
55 Buffum St	0.26mi	6/2.0 (-1)	2,592 (-13%)	23mo	$240,000	$93	42
286 Cumberland Ave	0.74mi	6/2.0 (-1)	2,768 (-7%)	12mo	$247,391	$89	39
368 Cumberland Ave	0.63mi	6/2.0 (-1)	2,597 (-13%)	15mo	$315,000	$121	32
289 Mineral Springs Rd	0.66mi	6/2.0 (-1)	2,604 (-12%)	22mo	$55,000	$21	25

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 46.6%
• Equity multiple: 4.61×
• Total profit: $190,958
• Equity at exit: $170,266

10-year hold

• IRR: 42.4%
• Equity multiple: 11.24×
• Total profit: $542,127
• Equity at exit: $367,185

Cash invested: $52,920 (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 14210

• Home prices YoY: 13.8%
• Rents YoY: 12.7%
• Active inventory: 94
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,854 high
• Mortgage (P&I): −$991
• Tax from tax record: −$38 /mo · $460/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$599
• Net cashflow: $1,146

Break-even live

Break-even rent $1,403

Max offer price $189,000

Occupancy floor 55%

Sensitivity live

Price	-10% $1,253	-5% $1,200	+0% $1,146	+5% $1,093	+10% $1,039
Rent	-10% $921	-5% $1,034	+0% $1,146	+5% $1,259	+10% $1,372
Rate	-1.0pp $1,242	-0.5pp $1,195	base $1,146	+0.5pp $1,098	+1.0pp $1,048

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,854
Total (2 units)			$2,854

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-19
   listed $189,000 Active
2. 2021-11-17
   soldstatus $132,000 Closed Sale or Rented 416-char remark

   Show marketing remark (416 chars)

   Unique 2 unit property. Lower has 4 bedrooms. Upper has 3 bedrooms. Beautiful natural woodwork throughout the property. Gorgeous wood pillars as room divider for the upper unit between living room and dining room. Lower has a bright kitchen with plenty of cupboard space. Some hardwood floors. Home has had drain tiles installed for a dry basement. Sewer line from house to road and trap have recently been replaced.

3. 2021-11-15
   soldstatus $132,000
4. 2021-08-19
   status Pending Sale 416-char remark

   Show marketing remark (416 chars)

   Unique 2 unit property. Lower has 4 bedrooms. Upper has 3 bedrooms. Beautiful natural woodwork throughout the property. Gorgeous wood pillars as room divider for the upper unit between living room and dining room. Lower has a bright kitchen with plenty of cupboard space. Some hardwood floors. Home has had drain tiles installed for a dry basement. Sewer line from house to road and trap have recently been replaced.

5. 2021-08-09
   listed $132,000 Active 416-char remark

   Show marketing remark (416 chars)

   Unique 2 unit property. Lower has 4 bedrooms. Upper has 3 bedrooms. Beautiful natural woodwork throughout the property. Gorgeous wood pillars as room divider for the upper unit between living room and dining room. Lower has a bright kitchen with plenty of cupboard space. Some hardwood floors. Home has had drain tiles installed for a dry basement. Sewer line from house to road and trap have recently been replaced.

ⓘ 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: $1,827 · $152/mo
• Expected delta: +$1,367/yr (+$114/mo · 297.5%)

ⓘ 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 ≥92°F today · 16 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: $34,248
• − Mortgage interest: −$10,587
• − Property taxes: −$460
• − Insurance: −$945
• − Repairs & maintenance: −$2,740
• − Management: −$2,740
• − Depreciation: −$5,498
• Taxable income: $11,279
• Est. tax owed @ 24.0%: −$2,707
• After-tax cash flow: $11,051/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): 15,563
• Household income: $54,197
• Rent vs Own: 53.9% rent · 46.1% own
• Severe rent burden: 959.0

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 (79%)
• Race & ethnicity: White 79% Two or more races 8% Black 8% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 21% Lithuanian 2% Serbian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 95% English-only · Spanish 2% Arabic 1% Other Indo-European 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: ▲ 52.34%
• Current HPI: 431.7951
• Rent YoY: ▲ 12.67%
• 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

+43.2% since first listed

5 events — show timeline

• 2026-05-19 Listed $189,000 WNYREIS
• 2021-11-17 Sold (MLS) $132,000 WNYREIS
• 2021-11-15 Sold (Public Records) $132,000 Public Records
• 2021-08-19 Pending — WNYREIS
• 2021-08-09 Listed $132,000 WNYREIS

Property tax history

+3.8%/yr

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