92 Gallatin Ave · Buffalo, NY 14207

$169,900

4 bd · 2.0 ba · 1,213 sqft · SingleFamily public records · 10 Days on market

Built 1900 2,700 sqft lot $140/sqft · 17% above area Est $183k · 7% 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 +18.6/30.0
• ARV discount +10.7/15.0
• DSCR +5.8/10.0
• Rent growth +4.5/5.0
• Livability +3.9/5.0
• 1% rule +3.7/10.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 92 Gallatin Avenue in Buffalo. This fully renovated home is move in ready and offers a great blend of updates, flexibility, and long term value. Featuring 4 bedrooms and 1.5 baths, this property provides opportunity for both owner occupants and investors alike. Major mechanical and infrastructure updates have already been completed, including a newer furnace (2016), new hot water tank (2024), and a replaced sewer lateral from the house to the street (2014). These improvements provide peace of mind and reduce immediate capital expenditure for the next owner. The first floor half bath presents bonus options to the next buyer, as it was previously a full bath and can be converted ba

Key facts

• Fully renovated
• Newer furnace
• New hot water tank

Tags

• FULLY RENOVATED
• MOVE IN READY
• MAJOR MECHANICAL UPDATES
• NEWER FURNACE
• NEW HOT WATER TANK
• REPLACED SEWER LATERAL

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: Single-story; Resale property
• Construction: Composite siding; Block foundation; Existing (year built details)
• Exterior features: Porch; Screened porch; See remarks

Interior

• Kitchen: Galley kitchen
• Bedrooms: One main-level bedroom
• Flooring: Hardwood; Varies
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Den; Entrance foyer; Separate/formal living room; Galley kitchen; Home office; Living/dining room; Convertible bedroom; Has full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $164 ($2k/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 $147k (13.3% below list).
• Recommended offer: $147k (13.3% 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: Rents rising fast (+8.2%/yr); 197 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 44% of the median local income ($40k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $48k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $85k; list at $170k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $147,270 (13.3% below list)

Questions for the listing agent

1. Built in 1900 — 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: 0.87% ✗
• Cap rate: 7.45%
• Cash-on-cash: 4.14%
• DSCR: 1.18
• GRM: 9.6

CMA / ARV

• ARV (median comp): $182,793
• List price: $169,900
• Delta: -7.05%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
56 Gallatin Ave	0.07mi	3/1.5 (-1)	1,052 (-13%)	2mo	$178,000	$169	66
195 Hertel Ave	0.45mi	3/1.0 (-1)	1,236 (+2%)	1mo	$110,000	$89	66
62 Chadduck Ave	0.45mi	3/1.0 (-1)	1,240 (+2%)	2mo	$155,000	$125	64
186 Crowley Ave	0.37mi	4/2.0	1,333 (+10%)	2mo	$215,000	$161	64
38 Wyandotte Ave	0.72mi	4/1.0	1,200 (-1%)	2mo	$150,000	$125	59
136 Newfield St	0.70mi	3/1.5 (-1)	1,198 (-1%)	2mo	$167,000	$139	57
82 Beatrice Ave	0.57mi	3/1.0 (-1)	1,166 (-4%)	2mo	$165,000	$142	56
50 Philadelphia St	0.62mi	3/1.5 (-1)	1,276 (+5%)	1mo	$155,000	$121	55
136 Crowley Ave	0.41mi	4/1.0	1,394 (+15%)	2mo	$100,000	$72	51
280 Esser Ave	0.65mi	3/1.0 (-1)	1,283 (+6%)	3mo	$175,000	$136	49
165 Roesch Ave	0.73mi	3/1.0 (-1)	1,285 (+6%)	5mo	$210,000	$163	43
36 Layer Ave	0.66mi	3/1.0 (-1)	1,040 (-14%)	0mo	$185,000	$178	36

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: -5.1%
• Equity multiple: 0.80×
• Total profit: $-9,390
• Equity at exit: $25,333

10-year hold

• IRR: 9.2%
• Equity multiple: 1.85×
• Total profit: $40,348
• Equity at exit: $14,690

Cash invested: $47,572 (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 14207

• Home prices YoY: -18.9%
• Rents YoY: 8.2%
• Active inventory: 197
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,473 high
• Mortgage (P&I): −$891
• Tax from tax record: −$38 /mo · $452/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $164

Break-even live

Break-even rent $1,265

Max offer price $169,900

Occupancy floor 84%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
118 Rano St Buffalo, NY	3.0	1.0	1050	$1,200	$1.14	21d	1	0.12mi
15 Ontario St Unit 1 Buffalo, NY	3.0	1.0	1000	$1,500	$1.50	1d	1	0.44mi
158 Chadduck Ave Buffalo, NY	4.0	1.0	1200	$1,250	$1.04	23d	1	0.48mi
134 Philadelphia St Buffalo, NY	3.0	1.0	871	$1,100	$1.26	3d	1	0.53mi
480 W Hazeltine Ave Buffalo, NY	3.0	1.0	989	$1,900	$1.92	23d	1	0.88mi
72 Reservation St Unit 2 Buffalo, NY	3.0	1.0	950	$1,150	$1.21	23d	1	0.91mi
62 Germain St Buffalo, NY	3.0	1.0	1320	$1,250	$0.95	23d	1	0.94mi
62 Seabrook St Buffalo, NY	4.0	1.0	1300	$2,000	$1.54	1d	1	0.97mi
139 Fordham Dr Buffalo, NY	3.0	1.0	1453	$1,700	$1.17	23d	1	1.36mi
100 Forest Ave Buffalo, NY	2.0–4.0	2.0–4.0	1304	$2,560	$1.96	1d	14	1.50mi

Listing history 4 events

1. 2026-05-14
   status Pending 1433-char remark
2. 2026-05-03
   listed $169,900 Active 1433-char remark
3. 2017-09-08
   soldstatus $85,000
4. 2007-05-25
   soldstatus $40,800

ⓘ 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: $452 · $38/mo
• Projected year-2 tax: $1,662 · $138/mo
• Expected delta: +$1,209/yr (+$101/mo · 267.3%)

ⓘ 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 ≥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: $17,672
• − Mortgage interest: −$9,517
• − Property taxes: −$452
• − Insurance: −$850
• − Repairs & maintenance: −$1,414
• − Management: −$1,414
• − Depreciation: −$4,943
• Taxable loss: −$917
• Est. tax savings @ 24.0%: +$220
• After-tax cash flow: $2,188/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

+316.4% since first listed

4 events — show timeline

• 2026-05-14 Pending — WNYREIS
• 2026-05-03 Listed $169,900 WNYREIS
• 2017-09-08 Sold (Public Records) $85,000 Public Records
• 2007-05-25 Sold (Public Records) $40,800 Public Records

Property tax history

+6.7%/yr

Latest (2025): $452 · +30.2% YoY. Source: county tax records.