117 Fredro St · Buffalo, NY 14206

$139,900

3 bd · 1.0 ba · 1,004 sqft · SingleFamily public records · 16 Days on market

Built 1924 3,000 sqft lot Est $184k · 24% 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 +21.8/30.0
• ARV discount +15.0/15.0
• Appreciation +9.0/10.0
• DSCR +7.0/10.0
• 1% rule +4.4/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This Cozy Bungalow offers convenience and comfort at a very reasonable price. Located South of the city in Kaisertown and just blocks to the thruway this lovely Home is minutes to parks, shopping, schools and restaurants. Owners have nicely improved the property and kept it well maintained so you can move right in. Two first floor bedrooms and one second floor with large attic adjacent for storage. The adorable kitchen is complete with appliances/ washer and dryer also included. Enjoy your summer evenings on open front porch or in your private fully fenced yard.

Key facts

• Full basement
• Open front porch
• Fully fenced yard

Tags

• UNTAPPED WALK-IN ATTIC
• FULL BASEMENT
• FULLY FENCED YARD
• OPEN FRONT PORCH

Property features AI

Finance

• HOA & community: Trails/paths nearby

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected; Circuit breaker electric
• Home design: Single-story property; Resale condition; Asphalt roof; Block foundation; Shake siding; Copper plumbing
• Construction: Built existing (year not specified)
• Exterior features: Blacktop driveway; Concrete driveway; Covered and open porch; Patio; Fully fenced yard; Shed(s) and additional storage

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Two main-level bedrooms
• Flooring: Hardwood; Linoleum; Luxury vinyl; Vinyl; Varies
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Gas heating; Space heater; Wall furnace
• Interior features: Separate/formal dining room; Entrance foyer; Eat-in kitchen; Separate/formal living room; Home office; Storage; Natural woodwork; Convertible bedroom; See remarks
• Laundry & utility: Washer and dryer in basement; Laundry located in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/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 $131k (6.3% below list).
• Recommended offer: $131k (6.3% 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: 169 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 31% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $12k of equity ($967 loan paydown + $11k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 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 $57k; list at $140k implies a 145% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,052 (6.3% below list)

Questions for the listing agent

1. Built in 1924 — 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 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: 0.94% ✗
• Cap rate: 8.15%
• Cash-on-cash: 6.64%
• DSCR: 1.30
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $183,732
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
217 Weiss St	0.16mi	3/1.0	993 (-1%)	3mo	$160,000	$161	88
19 Spann St	0.19mi	2/1.0 (-1)	1,026 (+2%)	8mo	$170,000	$166	76
358 Weimar St	0.27mi	2/1.0 (-1)	1,050 (+5%)	2mo	$200,000	$190	73
396 Weimar St	0.34mi	3/1.0	1,038 (+3%)	10mo	$205,000	$197	70
102 Fredro St	0.04mi	3/1.0	1,154 (+15%)	12mo	$100,000	$87	63
21 Glenn St	0.21mi	3/1.0	1,153 (+15%)	3mo	$15,000	$13	63
299 Fenton St	0.29mi	3/1.5	1,092 (+9%)	10mo	$200,000	$183	62
339 Weimar St	0.25mi	4/1.0 (+1)	1,114 (+11%)	12mo	$125,500	$113	55
114 Shanley St	0.64mi	3/1.0	1,054 (+5%)	9mo	$152,500	$145	54
95 Armin Pl	0.67mi	3/1.5	1,014 (+1%)	13mo	$215,000	$212	54
98 Polish Pl	0.65mi	3/1.0	960 (-4%)	11mo	$243,000	$253	53
95 Fernwood Ave	0.73mi	2/2.0 (-1)	1,137 (+13%)	6mo	$212,000	$186	30

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

Projected returns pro-forma

8.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.2%
• Equity multiple: 2.84×
• Total profit: $71,887
• Equity at exit: $106,842

10-year hold

• IRR: 22.7%
• Equity multiple: 6.06×
• Total profit: $198,190
• Equity at exit: $212,612

Cash invested: $39,172 (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 14206

• Home prices YoY: 1.8%
• Active inventory: 169
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,311 high
• Mortgage (P&I): −$734
• Tax from tax record: −$27 /mo · $319/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $217

Break-even live

Break-even rent $1,036

Max offer price $139,900

Occupancy floor 78%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1899 Seneca St Buffalo, NY	3.0	1.0	1134	$1,075	$0.95	14d	1	0.86mi
34 Hayden St Unit Back Buffalo, NY	3.0	1.0	1200	$1,600	$1.33	43d	1	0.89mi
1927 Seneca St Buffalo, NY	3.0	1.0	1196	$1,250	$1.05	23d	1	0.89mi
76 Hammerschmidt Ave Buffalo, NY	3.0	1.0	1200	$1,275	$1.06	1d	1	0.90mi
47 Lester St Unit Main Floor Buffalo, NY	3.0	1.0	900	$1,000	$1.11	43d	1	0.93mi
1150 Bailey Ave Buffalo, NY	4.0	1.5	1100	$1,200	$1.09	23d	1	1.04mi
2111 Seneca St #3 Buffalo, NY	2.0	1.0	937	$1,150	$1.23	43d	1	1.13mi
61 Princeton Pl Buffalo, NY	2.0	1.0	820	$1,300	$1.59	2d	1	1.19mi
23 Indian Orchard Pl Unit Lower Buffalo, NY	3.0	1.0	1200	$1,250	$1.04	43d	1	1.21mi
214 Abbott Rd Unit 2 Buffalo, NY	2.0	1.0	945	$1,200	$1.27	14d	1	1.23mi
298 Cumberland Ave Buffalo, NY	3.0	1.5	1208	$2,200	$1.82	1d	1	1.28mi
89 Macamley St #2 Buffalo, NY	3.0	1.0	1274	$1,100	$0.86	10d	1	1.47mi

Listing history 17 events

1. 2026-06-07
   statusdays on market $139,900 Pending 16 DOM
2. 2026-06-03
   days on market $139,900 Active Under Contract 13 DOM
3. 2026-06-02
   days on market $139,900 Active Under Contract 12 DOM
4. 2026-06-02
   status $139,900 Active Under Contract 11 DOM
5. 2026-06-01
   days on market $139,900 Active 11 DOM
6. 2026-05-31
   days on market $139,900 Active 10 DOM
7. 2026-05-21
   listed $139,900 Active
8. 2018-06-25
   soldstatus $57,200 Closed Sale or Rented 568-char remark

   Show marketing remark (568 chars)

   This Cozy Bungalow offers convenience and comfort at a very reasonable price. Located South of the city in Kaisertown and just blocks to the thruway this lovely Home is minutes to parks, shopping, schools and restaurants. Owners have nicely improved the property and kept it well maintained so you can move right in. Two first floor bedrooms and one second floor with large attic adjacent for storage. The adorable kitchen is complete with appliances/ washer and dryer also included. Enjoy your summer evenings on open front porch or in your private fully fenced yard.

9. 2018-06-25
   soldstatus $57,200

   Show marketing remark (568 chars)

   This Cozy Bungalow offers convenience and comfort at a very reasonable price. Located South of the city in Kaisertown and just blocks to the thruway this lovely Home is minutes to parks, shopping, schools and restaurants. Owners have nicely improved the property and kept it well maintained so you can move right in. Two first floor bedrooms and one second floor with large attic adjacent for storage. The adorable kitchen is complete with appliances/ washer and dryer also included. Enjoy your summer evenings on open front porch or in your private fully fenced yard.

10. 2018-05-17
    status Pending Sale 568-char remark

    Show marketing remark (568 chars)

    This Cozy Bungalow offers convenience and comfort at a very reasonable price. Located South of the city in Kaisertown and just blocks to the thruway this lovely Home is minutes to parks, shopping, schools and restaurants. Owners have nicely improved the property and kept it well maintained so you can move right in. Two first floor bedrooms and one second floor with large attic adjacent for storage. The adorable kitchen is complete with appliances/ washer and dryer also included. Enjoy your summer evenings on open front porch or in your private fully fenced yard.

11. 2018-05-13
    status Under Contract- Do Not Show 568-char remark

    Show marketing remark (568 chars)

    This Cozy Bungalow offers convenience and comfort at a very reasonable price. Located South of the city in Kaisertown and just blocks to the thruway this lovely Home is minutes to parks, shopping, schools and restaurants. Owners have nicely improved the property and kept it well maintained so you can move right in. Two first floor bedrooms and one second floor with large attic adjacent for storage. The adorable kitchen is complete with appliances/ washer and dryer also included. Enjoy your summer evenings on open front porch or in your private fully fenced yard.

12. 2018-04-23
    listed $60,000 Active 568-char remark

    Show marketing remark (568 chars)

    This Cozy Bungalow offers convenience and comfort at a very reasonable price. Located South of the city in Kaisertown and just blocks to the thruway this lovely Home is minutes to parks, shopping, schools and restaurants. Owners have nicely improved the property and kept it well maintained so you can move right in. Two first floor bedrooms and one second floor with large attic adjacent for storage. The adorable kitchen is complete with appliances/ washer and dryer also included. Enjoy your summer evenings on open front porch or in your private fully fenced yard.

13. 2017-11-17
    soldstatus $47,000 Closed Sale or Rented 243-char remark

    Show marketing remark (243 chars)

    Hurry to see this Charming home in Kaisertown. Featuring a wonderful front porch, natural woodwork, 3 bedrooms, 1 bath, hardwood floors, nice fenced yard, glass block, walkup attic with replacement windows. Great value in a Convenient location

14. 2017-11-13
    soldstatus $47,000
15. 2017-10-18
    status Pending Sale 243-char remark

    Show marketing remark (243 chars)

    Hurry to see this Charming home in Kaisertown. Featuring a wonderful front porch, natural woodwork, 3 bedrooms, 1 bath, hardwood floors, nice fenced yard, glass block, walkup attic with replacement windows. Great value in a Convenient location

16. 2017-09-25
    status Under Contract- Do Not Show 243-char remark

    Show marketing remark (243 chars)

    Hurry to see this Charming home in Kaisertown. Featuring a wonderful front porch, natural woodwork, 3 bedrooms, 1 bath, hardwood floors, nice fenced yard, glass block, walkup attic with replacement windows. Great value in a Convenient location

17. 2017-08-28
    listed $54,900 Active 243-char remark

    Show marketing remark (243 chars)

    Hurry to see this Charming home in Kaisertown. Featuring a wonderful front porch, natural woodwork, 3 bedrooms, 1 bath, hardwood floors, nice fenced yard, glass block, walkup attic with replacement windows. Great value in a Convenient location

ⓘ 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: $319 · $27/mo
• Projected year-2 tax: $1,342 · $112/mo
• Expected delta: +$1,022/yr (+$85/mo · 320.0%)

ⓘ 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 · 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: $15,726
• − Mortgage interest: −$7,837
• − Property taxes: −$319
• − Insurance: −$700
• − Repairs & maintenance: −$1,258
• − Management: −$1,258
• − Depreciation: −$4,070
• Taxable income: $285
• Est. tax owed @ 24.0%: −$68
• After-tax cash flow: $2,533/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): 21,631
• Household income: $50,450
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 841.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 13% Black 12% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10%
• Common ancestry: Romanian 25% Lithuanian 1% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Arabic 2%

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: ▲ 8.06%
• Current HPI: 457.3935
• Rent YoY: —
• 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

+154.8% since first listed

11 events — show timeline

• 2026-05-21 Listed $139,900 WNYREIS
• 2018-06-25 Sold (Public Records) $57,200 Public Records
• 2018-06-25 Sold (MLS) $57,200 WNYREIS
• 2018-05-17 Pending — WNYREIS
• 2018-05-13 Pending — WNYREIS
• 2018-04-23 Listed $60,000 WNYREIS
• 2017-11-17 Sold (MLS) $47,000 WNYREIS
• 2017-11-13 Sold (Public Records) $47,000 Public Records
• 2017-10-18 Pending — WNYREIS
• 2017-09-25 Pending — WNYREIS
• 2017-08-28 Listed $54,900 WNYREIS

Property tax history

+2.3%/yr

Latest (2025): $319 · +0.0% YoY. Source: county tax records.