157 Hazelwood Ave · Buffalo, NY 14215

$90,000

4 bd · 2.0 ba · 1,657 sqft · MultiFamily public records · 215 Days on market

Built 1925 3,906 sqft lot Est $166k · 46% under

---

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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.7/5.0
• 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

2 unit with great long term tenants. Updated electrical, newer hot water tanks, newer back roof, and clean inside and out. Investors, this make a great deal. Owner occupied perfect opportunity in great neighborhood. Please give ample notice for showing for current tenants.

Key facts

• 3,906 sq ft lot
• Garage
• Built 1925

Property features AI

Finance

• Financial info: Gross income reported at $10,472; Operating expenses reported at $7,430 (includes maintenance structure, maintenance, professional management, utilities); One unit currently rented for $800; other unit rent not reported; Owner pays hot water; rent includes hot water

Exterior

• Parking: Garage with approximately 1.5 garage spaces; Two or more off-street spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Existing/resale property
• Construction: Composite siding; Asphalt roof; Block foundation; Built (existing)
• Exterior features: Irregular lot; Near public transit; Residential neighborhood; City street and main thoroughfare frontage; Lot dimensions approximately 31 x 126

Interior

• Kitchen: Eat-in kitchens in both units
• Bedrooms: Two 1-bedroom units (each unit on its own level not specified)
• Flooring: Carpet; Laminate; Vinyl; Varied flooring
• Bathrooms: Two full bathrooms (one per unit)
• 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 × 2-bed/2.0-bath units multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $685/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 24.5% vs local median 8.1% 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.
• 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 flat; 239 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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).
• At $2,401/mo this rent would consume 64% of the median local household income ($45k/yr) (locally 2873% 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 $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 215 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago; this cycle's ask has dropped $35k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; list at $90k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 215 days. Have you received any prior offers? Is the seller open to a 12% 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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 2.67% ✓
• Cap rate: 24.55%
• Cash-on-cash: 65.20%
• DSCR: 3.90
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $165,700
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 Hazelwood Ave	0.09mi	4/2.0	1,498 (-10%)	1mo	$87,000	$58	79
274 Newburgh Ave	0.20mi	5/2.0 (+1)	1,754 (+6%)	4mo	$185,000	$105	73
124 Roma Ave	0.29mi	4/2.0	1,520 (-8%)	5mo	$235,000	$155	68
213 Hagen St	0.21mi	4/2.0	1,509 (-9%)	9mo	$150,000	$99	68
124 Newburgh Ave	0.41mi	4/2.0	1,750 (+6%)	7mo	$95,000	$54	66
63 Wright Ave	0.31mi	4/2.0	1,842 (+11%)	2mo	$120,000	$65	66
17 Proctor Ave	0.44mi	4/2.0	1,756 (+6%)	8mo	$175,000	$100	63
73 Oakmont Ave	0.66mi	4/2.0	1,616 (-2%)	6mo	$215,000	$133	60
78 Freund St	0.32mi	4/2.0	1,426 (-14%)	3mo	$130,000	$91	60
122 Preston Rd	0.52mi	4/2.0	1,764 (+6%)	11mo	$202,000	$115	56
9 Alma Ave	0.68mi	5/2.0 (+1)	1,630 (-2%)	9mo	$82,000	$50	53
376 Norfolk Ave	0.74mi	4/2.0	1,536 (-7%)	3mo	$160,000	$104	51

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 · 0.67% rent growth · sell at horizon

5-year hold

• IRR: 61.8%
• Equity multiple: 3.66×
• Total profit: $67,092
• Equity at exit: $13,419

10-year hold

• IRR: 65.6%
• Equity multiple: 6.92×
• Total profit: $149,074
• Equity at exit: $7,782

Cash invested: $25,200 (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 14215

• Home prices YoY: -30.0%
• Rents YoY: 0.7%
• Active inventory: 239
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,401 high
• Mortgage (P&I): −$472
• Tax from tax record: −$18 /mo · $219/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $1,369

Break-even live

Break-even rent $668

Max offer price $90,000

Occupancy floor 38%

Sensitivity live

Price	-10% $1,420	-5% $1,395	+0% $1,369	+5% $1,344	+10% $1,318
Rent	-10% $1,179	-5% $1,274	+0% $1,369	+5% $1,464	+10% $1,559
Rate	-1.0pp $1,414	-0.5pp $1,392	base $1,369	+0.5pp $1,346	+1.0pp $1,322

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,402
Total (2 units)			$2,401

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
65 Domedion Ave Buffalo, NY	3.0	1.0	1632	$1,500	$0.92	0d	1	0.55mi
74 Dorris Ave Buffalo, NY	3.0	1.0	1200	$1,450	$1.21	46d	1	0.58mi
96 Academy Rd Buffalo, NY	3.0	1.0	2247	$1,400	$0.62	26d	1	0.99mi
24 Euclid Ave Buffalo, NY	3.0	2.0	1150	$1,700	$1.48	46d	1	1.11mi
979 Walden Ave Buffalo, NY	4.0	3.0	1793	$2,000	$1.12	0d	1	1.16mi
143 Reo Ave Buffalo, NY	3.0	2.0	1143	$1,600	$1.40	14d	1	1.17mi
25 Parkridge Ave Buffalo, NY	3.0	1.0	1914	$1,350	$0.71	17d	1	1.20mi
517 Goodyear Ave Buffalo, NY	3.0	1.0	1559	$1,800	$1.15	21d	1	1.23mi
189 Westminster Ave Buffalo, NY	4.0	1.5	1065	$1,595	$1.50	12d	1	1.27mi
1202 Walden Ave Unit 3 Buffalo, NY	3.0	1.0	1500	$1,400	$0.93	19d	1	1.27mi
408 Koons Ave Unit Lower Buffalo, NY	3.0	2.0	1150	$1,050	$0.91	0d	1	1.36mi
162 Southgate Rd Buffalo, NY	3.0	1.5	1364	$4,500	$3.30	0d	1	1.40mi

Listing history 16 events

1. 2026-04-17
   status Pending
2. 2026-03-28
   status Active
3. 2026-03-09
   status Pending
4. 2026-02-25
   price $90,000
5. 2026-02-06
   price $95,000
6. 2026-01-23
   price $100,000
7. 2025-12-27
   price $110,000
8. 2025-12-23
   price $100,000
9. 2025-08-25
   listed $125,000 Active
10. 2023-12-12
    historical
11. 2023-08-30
    listed $95,000 Active
12. 2016-10-07
    soldstatus $36,000
13. 2016-10-01
    soldstatus $36,000 Closed Sale or Rented 273-char remark

    Show marketing remark (273 chars)

    2 unit with great long term tenants. Updated electrical, newer hot water tanks, newer back roof, and clean inside and out. Investors, this make a great deal. Owner occupied perfect opportunity in great neighborhood. Please give ample notice for showing for current tenants.

14. 2016-07-20
    status Pending Sale 273-char remark

    Show marketing remark (273 chars)

    2 unit with great long term tenants. Updated electrical, newer hot water tanks, newer back roof, and clean inside and out. Investors, this make a great deal. Owner occupied perfect opportunity in great neighborhood. Please give ample notice for showing for current tenants.

15. 2016-06-03
    price $44,900 273-char remark

    Show marketing remark (273 chars)

    2 unit with great long term tenants. Updated electrical, newer hot water tanks, newer back roof, and clean inside and out. Investors, this make a great deal. Owner occupied perfect opportunity in great neighborhood. Please give ample notice for showing for current tenants.

16. 2016-05-26
    listed $49,900 Active 273-char remark

    Show marketing remark (273 chars)

    2 unit with great long term tenants. Updated electrical, newer hot water tanks, newer back roof, and clean inside and out. Investors, this make a great deal. Owner occupied perfect opportunity in great neighborhood. Please give ample notice for showing for current tenants.

ⓘ 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: $219 · $18/mo
• Projected year-2 tax: $870 · $72/mo
• Expected delta: +$651/yr (+$54/mo · 297.9%)

ⓘ 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) · 17% 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,812
• − Mortgage interest: −$5,041
• − Property taxes: −$219
• − Insurance: −$450
• − Repairs & maintenance: −$2,305
• − Management: −$2,305
• − Depreciation: −$2,618
• Taxable income: $15,874
• Est. tax owed @ 24.0%: −$3,810
• After-tax cash flow: $12,620/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): 42,524
• Household income: $44,955
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 2873.0

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 Black (67%)
• Race & ethnicity: Black 67% White 15% Asian 7% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada, China
• Languages at home: 88% English-only · Other Indo-European 4% Spanish 4% Chinese 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: ▼ -126.29%
• Current HPI: 295.2966
• Rent YoY: ▲ 0.67%
• 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

+80.4% since first listed

16 events — show timeline

• 2026-04-17 Pending — WNYREIS
• 2026-03-28 Relisted — WNYREIS
• 2026-03-09 Pending — WNYREIS
• 2026-02-25 Price Changed $90,000 WNYREIS
• 2026-02-06 Price Changed $95,000 WNYREIS
• 2026-01-23 Price Changed $100,000 WNYREIS
• 2025-12-27 Price Changed $110,000 WNYREIS
• 2025-12-23 Price Changed $100,000 WNYREIS
• 2025-08-25 Listed $125,000 WNYREIS
• 2023-12-12 Listing Removed — WNYREIS
• 2023-08-30 Listed $95,000 WNYREIS
• 2016-10-07 Sold (Public Records) $36,000 Public Records
• 2016-10-01 Sold (MLS) $36,000 WNYREIS
• 2016-07-20 Pending — WNYREIS
• 2016-06-03 Price Changed $44,900 WNYREIS
• 2016-05-26 Listed $49,900 WNYREIS

Property tax history

-2.3%/yr

Latest (2025): $219 · +0.0% YoY. Source: county tax records.