145 Highgate Ave · Buffalo, NY 14214

$199,900

5 bd · 2.0 ba · 1,771 sqft · SingleFamily public records · 9 Days on market

Built 1925 4,810 sqft lot Est $241k · 17% 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 +27.3/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +7.4/10.0
• 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

Listing remarks

This spacious home in the University Heights neighborhood is just steps from UB and other amenities. Perfect for a hands-on homeowner, savvy renovator, or investor ready to build equity. The home features 4 large bedrooms and 2 full bathrooms, one conveniently located on each floor. The layout offers excellent flow, highlighted by a huge living room ideal for entertaining, complete hardwood accents and built-ins that add timeless character. Key updates include: brand new windows on the first floor, updated mechanics, tankless hot water heater, central air conditioning and a large, well-insulated basement. This is a fixer-upper, where your vision can transform the space into something specia

Key facts

• Mechanical upgrades
• Brand new windows
• 4,810 sq ft lot

Tags

• BRAND NEW WINDOWS
• TANKLESS HOT WATER HEATER
• CENTRAL AIR CONDITIONING
• WELL-INSULATED BASEMENT
• MECHANICAL UPGRADES
• ENERGY-EFFICIENT FEATURES

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $581 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Cap rate 9.8% 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); 90 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,484/mo this rent would consume 51% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $56k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $199,900

Questions for the listing agent

1. Built in 1925 — 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: 1.24% ✓
• Cap rate: 9.78%
• Cash-on-cash: 12.45%
• DSCR: 1.55
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $240,856
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
145 Highgate Ave	0.00mi	4/2.0 (-1)	1,771 (0%)	0mo	$218,000	$123	95
296 Highgate Ave	0.29mi	5/2.0	1,771 (0%)	7mo	$221,000	$125	81
216 Lasalle Ave	0.17mi	4/2.0 (-1)	1,638 (-8%)	6mo	$140,000	$85	70
176 Lasalle Ave	0.17mi	4/2.0 (-1)	1,601 (-10%)	2mo	$270,000	$169	69
187 Highgate Ave	0.08mi	5/2.5	2,008 (+13%)	5mo	$295,000	$147	68
253 Winspear Ave	0.27mi	4/2.0 (-1)	1,584 (-11%)	6mo	$315,100	$199	60
251 Minnesota Ave	0.18mi	5/3.0	2,002 (+13%)	9mo	$325,000	$162	58
106 Lasalle Ave	0.24mi	4/1.5 (-1)	1,563 (-12%)	7mo	$205,000	$131	56
243 Berkshire Ave	0.60mi	4/2.0 (-1)	1,617 (-9%)	1mo	$220,000	$136	52
379 Minnesota Ave	0.39mi	4/2.0 (-1)	1,560 (-12%)	6mo	$227,000	$146	51
618 Lasalle Ave	0.71mi	4/2.0 (-1)	1,844 (+4%)	5mo	$155,000	$84	51
307 Berkshire Ave	0.67mi	4/1.0 (-1)	1,623 (-8%)	4mo	$182,000	$112	42

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: 5.3%
• Equity multiple: 1.21×
• Total profit: $11,864
• Equity at exit: $29,806

10-year hold

• IRR: 17.1%
• Equity multiple: 2.60×
• Total profit: $89,514
• Equity at exit: $17,284

Cash invested: $55,972 (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: 90
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,484 high
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$522
• Net cashflow: $581

Break-even live

Break-even rent $1,749

Max offer price $199,900

Occupancy floor 72%

Sensitivity live

Price	-10% $719	-5% $650	+0% $581	+5% $512	+10% $443
Rent	-10% $385	-5% $483	+0% $581	+5% $679	+10% $777
Rate	-1.0pp $682	-0.5pp $632	base $581	+0.5pp $529	+1.0pp $476

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
175 Lisbon Ave Buffalo, NY	5.0	2.0	2000	$2,500	$1.25	15d	1	0.04mi
222 Lisbon Ave Buffalo, NY	4.0	1.0	1300	$1,400	$1.08	24d	1	0.08mi
85 Highgate Ave Buffalo, NY	5.0	2.0	2193	$3,750	$1.71	15d	1	0.14mi
65 Northrup Pl Buffalo, NY	5.0	2.0	1467	$2,500	$1.70	15d	1	0.16mi
24 Custer St Buffalo, NY	5.0	2.0	2500	$3,000	$1.20	15d	1	0.34mi
89 Lasalle Ave Buffalo, NY	1.0–4.0	1.0–4.0	1024	$2,997	$2.93	2d	10	0.35mi
60 Englewood Ave Buffalo, NY	4.0	1.0	1400	$1,650	$1.18	2d	1	0.45mi
91 Englewood Ave Buffalo, NY	4.0	1.0	2500	$2,000	$0.80	2d	1	0.52mi
102 Englewood Ave Buffalo, NY	4.0	1.0	2426	$2,750	$1.13	2d	1	0.52mi
63 Montrose Ave Buffalo, NY	4.0	1.0	2240	$2,000	$0.89	2d	1	0.60mi
196 Englewood Ave Buffalo, NY	5.0	1.5	2560	$2,000	$0.78	2d	1	0.68mi
80 Capen Blvd Buffalo, NY	5.0	2.5	2591	$2,800	$1.08	2d	1	0.73mi
91 Springville Ave Buffalo, NY	4.0	2.0	1660	$2,350	$1.42	24d	1	0.97mi
4098 Bailey Ave Buffalo, NY	5.0	2.5	2108	$2,200	$1.04	44d	1	1.35mi

Listing history 2 events

1. 2026-04-09
   status Pending
2. 2026-03-31
   listed $199,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $29,808
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,385
• − Management: −$2,385
• − Depreciation: −$5,815
• Taxable income: $4,028
• Est. tax owed @ 24.0%: −$967
• After-tax cash flow: $6,004/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

2 events — show timeline

• 2026-04-09 Pending — WNYREIS
• 2026-03-31 Listed $199,900 WNYREIS

Property tax history

-1.9%/yr

Latest (2025): $257 · +0.0% YoY. Source: county tax records.