105 Ontario St · Buffalo, NY 14207

$225,000

6 bd · 2.0 ba · 2,908 sqft · Townhouse public records · 4 Days on market

Built 1920 3,830 sqft lot

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Why this score? — see what drove the D+ 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 +15.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Rent growth +4.5/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This Fannie Mae Homepath 2 family home is exactly what you're looking for! Each unit has a formal dining room, living room, decorative fireplaces and central air. The upper unit has some updates to the kitchen and bathroom with a bonus room off the living room. The lower unit has carpet, hardwoods, and an extra large living room. You'll have plenty of storage space with the walk up attic, detached garage and full basement. Conveniently located near schools, Niagara St, and easy access to major roadways. Rent out one unit and let the tenant help pay your mortgage. First look in effect.

Key facts

• Leaded glass
• Front sunroom
• Dining rooms

Tags

• INVITING HEARTHS
• LEADED GLASS
• ORIGINAL WOODWORK
• SPACIOUS LIVING
• DINING ROOMS
• FRONT SUNROOM

Property features AI

Finance

• Other: Owner pays grounds care and water for rentals; Rent includes common area maintenance and water
• Financial info: Operating expenses include maintenance, trash, and water/sewer; One unit listed with $1,200 rent; property contains 2 units; Separate gas and electric meters for each unit

Exterior

• Parking: Detached or on-site concrete parking with two or more spaces; 2-car garage
• Utilities: Public water connected; Sewer connected; Circuit breaker electric service
• Home design: Two-story multifamily building; Resale property
• Construction: Brick and composite siding with frame construction; Asphalt roof; Block foundation; Copper plumbing; Built existing (established property)
• Exterior features: Enclosed porch; Open porch; Near public transit; Rectangular lot; Main thoroughfare frontage

Interior

• Kitchen: Oven/range; Refrigerator
• Bedrooms: Two 3-bedroom units (one per floor)
• Flooring: Carpet; Tile; Varied flooring
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Leaded glass windows; Natural woodwork; Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath townhouse listed at $225k.

Deal economics

• At list price, monthly cash flow is $93 ($1k/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 $180k (20.1% below list).
• Recommended offer: $180k (20.1% 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.
• 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 (+8.2%/yr); 199 active listings in the ZIP; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $1,799/mo this rent would consume 54% of the median local household income ($40k/yr) (locally 2177% 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.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 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 $92k; list at $225k implies a 146% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $179,858 (20.1% below list)

Questions for the listing agent

1. Built in 1920 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 0.80% ✗
• Cap rate: 6.79%
• Cash-on-cash: 1.77%
• DSCR: 1.08
• GRM: 10.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -8.8%
• Equity multiple: 0.66×
• Total profit: $-21,162
• Equity at exit: $33,548

10-year hold

• IRR: 5.7%
• Equity multiple: 1.51×
• Total profit: $31,982
• Equity at exit: $19,454

Cash invested: $63,000 (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: 199
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,799 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$54 /mo · $654/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $93

Break-even live

Break-even rent $1,681

Max offer price $225,000

Occupancy floor 90%

Sensitivity live

Price	-10% $220	-5% $156	+0% $93	+5% $29	+10% $-35
Rent	-10% $-49	-5% $22	+0% $93	+5% $164	+10% $235
Rate	-1.0pp $206	-0.5pp $150	base $93	+0.5pp $34	+1.0pp $-25

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-21
   statusdays on market $225,000 Pending 4 DOM
2. 2026-06-18
   days on market $225,000 Active 3 DOM
3. 2026-06-17
   days on market $225,000 Active 2 DOM
4. 2026-06-15
   remarks 616-char remark
5. 2026-06-15
   listed $225,000 Active 1 DOM

ⓘ 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: $654 · $54/mo
• Projected year-2 tax: $2,228 · $186/mo
• Expected delta: +$1,574/yr (+$131/mo · 240.8%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% 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 4/10 Moderate 4 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,583
• − Mortgage interest: −$12,603
• − Property taxes: −$654
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,727
• − Management: −$1,727
• − Depreciation: −$6,545
• Taxable loss: −$2,798
• Est. tax savings @ 24.0%: +$672
• After-tax cash flow: $1,784/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

+184.1% since first listed

14 events — show timeline

• 2026-06-15 Listed $225,000 WNYREIS
• 2022-05-19 Price Changed $1,450 RENT.
• 2016-12-22 Sold (MLS) $91,500 WNYREIS
• 2016-11-16 Pending — WNYREIS
• 2016-11-10 Price Changed $89,900 WNYREIS
• 2016-11-03 Relisted — WNYREIS
• 2016-08-02 Pending — WNYREIS
• 2016-06-07 Contingent — WNYREIS
• 2016-05-04 Listed $98,500 WNYREIS
• 2014-07-29 Listing Removed — WNYREIS
• 2013-10-08 Listing Removed — WNYREIS
• 2013-10-08 Listed $85,900 WNYREIS
• 2013-05-28 Listed $85,900 WNYREIS
• 2007-11-26 Sold (Public Records) $79,200 Public Records

Property tax history

+4.8%/yr

Latest (2025): $654 · +16.7% YoY. Source: county tax records.