76 Vernon Pl · Buffalo, NY 14214

$288,000

6 bd · 2.0 ba · 2,380 sqft · MultiFamily public records · 63 Days on market

Built 1920 3,600 sqft lot $121/sqft · 54% below area

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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 +27.7/30.0
• DSCR +9.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Attention investors and owner-occupants! Welcome to this well-maintained double on a quiet residential street adjacent to Parkside—just over a half-mile walk to Delaware Park, the Buffalo Zoo, JAM Parkside, and the Parkside Meadow. Both the upper and lower units feature a porch, 3 bedrooms, and a full bath. Additional highlights include a driveway, forced-air heat (making it easy to add central air), and a complete tear-off roof installed in 2016 with 30-year architectural shingles.

Key facts

• Porch
• Driveway
• 2 parking spots

Tags

• WELL MAINTAINED DOUBLE
• QUIET RESIDENTIAL STREET
• HALF-MILE WALK TO BUFFALO ZOO
• HALF-MILE WALK TO JAM PARKSIDE
• PORCH
• DRIVEWAY

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $288k.

Deal economics

• At list price, monthly cash flow is $867 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $288k).
• Recommended offer: $271k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 8.0% in Buffalo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (+5.8%/yr); 92 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,270/mo this rent would consume 67% of the median local household income ($58k/yr) (locally 1820% 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 $9k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $81k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($271k) 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 $176k; list at $288k implies a 63% 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 $270,720 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.14% ✓
• Cap rate: 9.91%
• Cash-on-cash: 12.90%
• DSCR: 1.57
• GRM: 7.3

CMA / ARV

• ARV (median comp): $630,918
• List price: $288,000
• Delta: -54.35%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
172 Rodney Ave	0.37mi	6/2.5	2,430 (+2%)	7mo	$222,499	$92	71
1681 Amherst St	0.06mi	6/2.0	2,728 (+15%)	10mo	$335,000	$123	64
168 Rodney Ave	0.36mi	6/2.0	2,199 (-8%)	7mo	$175,000	$80	64
356 Woodward Ave	0.37mi	6/2.0	2,544 (+7%)	9mo	$390,000	$153	64
258 Leroy Ave	0.52mi	6/2.0	2,200 (-8%)	6mo	$220,000	$100	59
2006 Fillmore Ave	0.75mi	5/2.0 (-1)	2,390 (+0%)	3mo	$84,800	$35	57
92 Wakefield Ave	0.44mi	6/2.0	2,046 (-14%)	8mo	$190,000	$93	50
2032 Fillmore Ave	0.70mi	6/2.0	2,226 (-6%)	10mo	$150,000	$67	49
25 Sterling Ave	0.69mi	6/2.0	2,244 (-6%)	12mo	$430,000	$192	48
752 Tacoma Ave	0.75mi	6/2.0	2,652 (+11%)	10mo	$490,000	$185	37
32 Sterling Ave	0.73mi	6/3.0	2,662 (+12%)	7mo	$470,300	$177	36
114 Manhattan Ave	0.72mi	5/2.0 (-1)	2,052 (-14%)	16mo	$158,000	$77	25

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 · 5.81% rent growth · sell at horizon

5-year hold

• IRR: 5.6%
• Equity multiple: 1.22×
• Total profit: $17,941
• Equity at exit: $42,942

10-year hold

• IRR: 17.2%
• Equity multiple: 2.58×
• Total profit: $127,567
• Equity at exit: $24,901

Cash invested: $80,640 (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 14214

• Rents YoY: 5.8%
• Active inventory: 92
• Price-to-rent: 14.7×

Monthly cashflow live

• Estimated rent: $3,270 high
• Mortgage (P&I): −$1,510
• Tax from tax record: −$86 /mo · $1,031/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$687
• Net cashflow: $867

Break-even live

Break-even rent $2,172

Max offer price $288,000

Occupancy floor 68%

Sensitivity live

Price	-10% $1,030	-5% $949	+0% $867	+5% $786	+10% $704
Rent	-10% $609	-5% $738	+0% $867	+5% $996	+10% $1,125
Rate	-1.0pp $1,012	-0.5pp $940	base $867	+0.5pp $792	+1.0pp $717

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,270
Total (2 units)			$3,270

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: $72,000
• Closing costs: $8,640
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24 Custer St Buffalo, NY	5.0	2.0	2500	$3,000	$1.20	15d	1	1.03mi
145 Minnesota Ave Buffalo, NY	7.0	2.0	2551	$4,900	$1.92	15d	1	1.05mi
85 Highgate Ave Buffalo, NY	5.0	2.0	2193	$3,750	$1.71	15d	1	1.11mi
175 Lisbon Ave Buffalo, NY	5.0	2.0	2000	$2,500	$1.25	15d	1	1.16mi
15 Hughes Ave Buffalo, NY	7.0	2.0	1650	$3,000	$1.82	44d	1	1.16mi
133 Merrimac St Buffalo, NY	7.0	2.0	2327	$4,450	$1.91	15d	1	1.21mi
196 Englewood Ave Buffalo, NY	5.0	1.5	2560	$2,000	$0.78	2d	1	1.31mi

Listing history 8 events

1. 2026-04-24
   price $288,000 496-char remark

   Show marketing remark (496 chars)

   Attention investors and owner-occupants! Welcome to this well-maintained double on a quiet residential street adjacent to Parkside—just over a half-mile walk to Delaware Park, the Buffalo Zoo, JAM Parkside, and the Parkside Meadow. Both the upper and lower units feature a porch, 3 bedrooms, and a full bath. Additional highlights include a driveway, forced-air heat (making it easy to add central air), and a complete tear-off roof installed in 2016 with 30-year architectural shingles.

2. 2026-03-25
   listed $298,000 Active 496-char remark

   Show marketing remark (496 chars)

   Attention investors and owner-occupants! Welcome to this well-maintained double on a quiet residential street adjacent to Parkside—just over a half-mile walk to Delaware Park, the Buffalo Zoo, JAM Parkside, and the Parkside Meadow. Both the upper and lower units feature a porch, 3 bedrooms, and a full bath. Additional highlights include a driveway, forced-air heat (making it easy to add central air), and a complete tear-off roof installed in 2016 with 30-year architectural shingles.

3. 2026-01-10
   historical $1,440
4. 2025-11-15
   listed $1,440
5. 2017-10-18
   soldstatus $176,500 Closed Sale or Rented 634-char remark

   Show marketing remark (634 chars)

   3/3 double with approx. 1200sq ft each unit is ready to be owner occupied and/or investor money maker. New tear off roof with 30yr architectural shingles. New copper & pex plumbing, circuit breakers, replacement windows, refinished hardwoods, fresh paint, furnaces 2005, hot water tanks 2015, and basement glass block windows. The upper has a brand new kitchen w appliances and a brand new bathroom. Upper & Lower porches and driveway parking complete this property in a great location. Delaware Park & The Buffalo Zoo are 3 blocks away. 2 Rapid Transit stations are in walking distance ( Humboldt & Amherst ).

6. 2017-10-18
   soldstatus $176,500

   Show marketing remark (634 chars)

   3/3 double with approx. 1200sq ft each unit is ready to be owner occupied and/or investor money maker. New tear off roof with 30yr architectural shingles. New copper & pex plumbing, circuit breakers, replacement windows, refinished hardwoods, fresh paint, furnaces 2005, hot water tanks 2015, and basement glass block windows. The upper has a brand new kitchen w appliances and a brand new bathroom. Upper & Lower porches and driveway parking complete this property in a great location. Delaware Park & The Buffalo Zoo are 3 blocks away. 2 Rapid Transit stations are in walking distance ( Humboldt & Amherst ).

7. 2017-07-17
   status Under Contract- Do Not Show 634-char remark

   Show marketing remark (634 chars)

   3/3 double with approx. 1200sq ft each unit is ready to be owner occupied and/or investor money maker. New tear off roof with 30yr architectural shingles. New copper & pex plumbing, circuit breakers, replacement windows, refinished hardwoods, fresh paint, furnaces 2005, hot water tanks 2015, and basement glass block windows. The upper has a brand new kitchen w appliances and a brand new bathroom. Upper & Lower porches and driveway parking complete this property in a great location. Delaware Park & The Buffalo Zoo are 3 blocks away. 2 Rapid Transit stations are in walking distance ( Humboldt & Amherst ).

8. 2017-07-10
   listed $169,900 Active 634-char remark

   Show marketing remark (634 chars)

   3/3 double with approx. 1200sq ft each unit is ready to be owner occupied and/or investor money maker. New tear off roof with 30yr architectural shingles. New copper & pex plumbing, circuit breakers, replacement windows, refinished hardwoods, fresh paint, furnaces 2005, hot water tanks 2015, and basement glass block windows. The upper has a brand new kitchen w appliances and a brand new bathroom. Upper & Lower porches and driveway parking complete this property in a great location. Delaware Park & The Buffalo Zoo are 3 blocks away. 2 Rapid Transit stations are in walking distance ( Humboldt & Amherst ).

ⓘ 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: $1,031 · $86/mo
• Projected year-2 tax: $2,949 · $246/mo
• Expected delta: +$1,918/yr (+$160/mo · 186.0%)

ⓘ 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 ≥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: $39,240
• − Mortgage interest: −$16,132
• − Property taxes: −$1,031
• − Insurance: −$1,440
• − Repairs & maintenance: −$3,139
• − Management: −$3,139
• − Depreciation: −$8,378
• Taxable income: $5,980
• Est. tax owed @ 24.0%: −$1,435
• After-tax cash flow: $8,970/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): 21,314
• Household income: $58,228
• Rent vs Own: 57.7% rent · 42.3% own
• Severe rent burden: 1820.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 47% Black 31% Asian 11% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 5% Lithuanian 2% Scotch-Irish 1%
• Foreign-born: 14% · Canada, China
• Languages at home: 81% English-only · Other Indo-European 7% Spanish 4% Other Asian/Pacific 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: ▼ -282.52%
• Current HPI: 373.377
• Rent YoY: ▲ 5.81%
• 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

+69.5% since first listed

8 events — show timeline

• 2026-04-24 Price Changed $288,000 WNYREIS
• 2026-03-25 Listed $298,000 WNYREIS
• 2026-01-10 Rental Removed $1,440 LISTANZA
• 2025-11-15 Listed for Rent $1,440 LISTANZA
• 2017-10-18 Sold (Public Records) $176,500 Public Records
• 2017-10-18 Sold (MLS) $176,500 WNYREIS
• 2017-07-17 Pending — WNYREIS
• 2017-07-10 Listed $169,900 WNYREIS

Property tax history

+11.0%/yr

Latest (2025): $1,031 · +0.0% YoY. Source: county tax records.