491 Doat St · Buffalo, NY 14211

$136,000

2 bd · 1.0 ba · 1,288 sqft · SingleFamily public records · 122 Days on market

Built 1910 3,399 sqft lot $106/sqft · 5% below area Est $143k · 5% 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 +18.3/30.0
• ARV discount +9.8/15.0
• Appreciation +6.0/10.0
• DSCR +5.8/10.0
• 1% rule +4.9/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to 491 Doat St in the City of Buffalo! This spacious single-family home offers 4 bedrooms and 1 full bath, making it a versatile option for both owner-occupants and investors. Currently tenant-occupied, this property provides immediate rental income with the flexibility for future personal use. The home features hardwood floors throughout, solid mechanics, and a convenient first-floor bedroom ideal for accessibility or flexible living arrangements. Enjoy a partially fenced yard that offers outdoor space for recreation, pets, or gardening. Located near public transportation, shopping, and daily amenities, this home presents a great opportunity to build equity or expand your investment portfolio. Don’t miss out on this affordable and promising property!

Key facts

• First-floor bedroom
• Hardwood floors
• 3,399 sq ft lot

Tags

• HARDWOOD FLOORS
• FIRST-FLOOR BEDROOM
• PARTIALLY FENCED YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $136k.

Deal economics

• At list price, monthly cash flow is $125 ($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 $135k (0.9% below list).
• Recommended offer: $120k (12.0% below list) — sets the bar for market timing.

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: 172 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 45% of the median local income ($36k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $4k of equity ($940 loan paydown + $3k appreciation (2.0% local appreciation)).
• At projected returns (2.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($120k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $119,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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 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: 0.99% ✗
• Cap rate: 7.40%
• Cash-on-cash: 3.94%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

• ARV (median comp): $143,241
• List price: $136,000
• Delta: -5.06%
• 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
32 Wildy Ave	0.39mi	3/2.0 (+1)	1,267 (-2%)	1mo	$210,000	$166	69
105 Hoerner Ave	0.38mi	3/1.0 (+1)	1,367 (+6%)	2mo	$90,000	$66	66
71 Alpine Pl	0.48mi	3/1.0 (+1)	1,270 (-1%)	7mo	$162,000	$128	65
1003 Walden Ave	0.27mi	3/1.0 (+1)	1,130 (-12%)	0mo	$70,000	$62	62
76 Humason Ave	0.45mi	3/1.0 (+1)	1,212 (-6%)	4mo	$125,000	$103	61
74 Domedion Ave	0.43mi	3/1.0 (+1)	1,196 (-7%)	4mo	$120,000	$100	60
62 Haller Ave	0.41mi	3/2.0 (+1)	1,397 (+8%)	4mo	$125,000	$89	54
145 Hoerner Ave	0.39mi	2/1.0	1,112 (-14%)	7mo	$190,000	$171	53
49 Erb St	0.70mi	3/1.0 (+1)	1,216 (-6%)	6mo	$155,000	$127	48
26 Moeller St	0.52mi	3/1.5 (+1)	1,454 (+13%)	4mo	$220,000	$151	44
87 Hagen St	0.60mi	3/1.0 (+1)	1,121 (-13%)	4mo	$120,000	$107	42
59 Fisher St	0.68mi	3/1.0 (+1)	1,100 (-15%)	1mo	$195,000	$177	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.6%
• Equity multiple: 1.46×
• Total profit: $17,641
• Equity at exit: $54,004

10-year hold

• IRR: 11.7%
• Equity multiple: 2.59×
• Total profit: $60,393
• Equity at exit: $78,046

Cash invested: $38,080 (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 14211

• Home prices YoY: 0.6%
• Active inventory: 172
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,348 high
• Mortgage (P&I): −$713
• Tax est. 1.5%: −$170 /mo · $2,040/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $125

Break-even live

Break-even rent $1,190

Max offer price $136,000

Occupancy floor 86%

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: $34,000
• Closing costs: $4,080
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24 Euclid Ave Buffalo, NY	3.0	2.0	1150	$1,700	$1.48	43d	1	0.30mi
65 Domedion Ave Buffalo, NY	3.0	1.0	1632	$1,500	$0.92	1d	1	0.38mi
67 Moeller St Unit UPPER Buffalo, NY	3.0	1.0	960	$1,000	$1.04	3d	1	0.41mi
67 Moeller St Unit LOWER Buffalo, NY	3.0	1.0	960	$1,200	$1.25	23d	1	0.41mi
1202 Walden Ave Unit 3 Buffalo, NY	3.0	1.0	1500	$1,400	$0.93	17d	1	0.61mi
50 Pine Ridge Ter Unit 3 Cheektowaga, NY	2.0	1.0	900	$1,400	$1.56	17d	1	0.68mi
143 Reo Ave Buffalo, NY	3.0	2.0	1143	$1,600	$1.40	11d	1	0.76mi
216 Newburgh Ave Buffalo, NY	2.0	1.0	1690	$1,150	$0.68	23d	1	0.79mi
61 Courtland Ave Unit Lower Buffalo, NY	2.0	1.0	1000	$1,300	$1.30	43d	1	0.80mi
249 Newburgh Ave Unit 2 Buffalo, NY	2.0	1.0	930	$1,300	$1.40	43d	1	0.84mi
1777 Broadway Unit 2 Buffalo, NY	3.0	1.0	1300	$1,200	$0.92	43d	1	0.93mi
517 Goodyear Ave Buffalo, NY	3.0	1.0	1559	$1,800	$1.15	19d	1	0.97mi
11 Kaufman Dr Buffalo, NY	2.0	1.0	900	$1,500	$1.67	43d	1	1.01mi
71 Gerald Ave Buffalo, NY	2.0	1.0	1773	$1,100	$0.62	43d	1	1.11mi
103 Preston Rd Unit Lower Cheektowaga, NY	2.0	1.0	882	$1,300	$1.47	3d	1	1.15mi
17 Proctor Ave Unit 1 Buffalo, NY	2.0	1.0	900	$1,100	$1.22	43d	1	1.25mi
74 Dorris Ave Buffalo, NY	3.0	1.0	1200	$1,450	$1.21	43d	1	1.30mi

Listing history 4 events

1. 2026-05-17
   status Pending 775-char remark

   Show marketing remark (775 chars)

   Welcome to 491 Doat St in the City of Buffalo! This spacious single-family home offers 4 bedrooms and 1 full bath, making it a versatile option for both owner-occupants and investors. Currently tenant-occupied, this property provides immediate rental income with the flexibility for future personal use. The home features hardwood floors throughout, solid mechanics, and a convenient first-floor bedroom ideal for accessibility or flexible living arrangements. Enjoy a partially fenced yard that offers outdoor space for recreation, pets, or gardening. Located near public transportation, shopping, and daily amenities, this home presents a great opportunity to build equity or expand your investment portfolio. Don’t miss out on this affordable and promising property!

2. 2026-02-21
   price $136,000 775-char remark

   Show marketing remark (775 chars)

   Welcome to 491 Doat St in the City of Buffalo! This spacious single-family home offers 4 bedrooms and 1 full bath, making it a versatile option for both owner-occupants and investors. Currently tenant-occupied, this property provides immediate rental income with the flexibility for future personal use. The home features hardwood floors throughout, solid mechanics, and a convenient first-floor bedroom ideal for accessibility or flexible living arrangements. Enjoy a partially fenced yard that offers outdoor space for recreation, pets, or gardening. Located near public transportation, shopping, and daily amenities, this home presents a great opportunity to build equity or expand your investment portfolio. Don’t miss out on this affordable and promising property!

3. 2026-01-15
   listed $136,600 Active 775-char remark

   Show marketing remark (775 chars)

   Welcome to 491 Doat St in the City of Buffalo! This spacious single-family home offers 4 bedrooms and 1 full bath, making it a versatile option for both owner-occupants and investors. Currently tenant-occupied, this property provides immediate rental income with the flexibility for future personal use. The home features hardwood floors throughout, solid mechanics, and a convenient first-floor bedroom ideal for accessibility or flexible living arrangements. Enjoy a partially fenced yard that offers outdoor space for recreation, pets, or gardening. Located near public transportation, shopping, and daily amenities, this home presents a great opportunity to build equity or expand your investment portfolio. Don’t miss out on this affordable and promising property!

4. 2021-03-01
   soldstatus $830,000

ⓘ 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 2/10 Low FEMA zone X (unshaded) · 3% 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: $16,174
• − Mortgage interest: −$7,618
• − Property taxes: −$2,040
• − Insurance: −$680
• − Repairs & maintenance: −$1,294
• − Management: −$1,294
• − Depreciation: −$3,956
• Taxable loss: −$708
• Est. tax savings @ 24.0%: +$170
• After-tax cash flow: $1,669/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): 24,663
• Household income: $36,300
• Rent vs Own: 54.8% rent · 45.2% own
• Severe rent burden: 1804.0

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 0.60)
• Race & ethnicity: Black 59% Asian 20% Hispanic / Latino 9% White 9% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 4%
• Foreign-born: 17% · Canada, Philippines, Vietnam
• Languages at home: 74% English-only · Other Indo-European 14% Spanish 6% 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: ▲ 2.05%
• Current HPI: 357.6438
• Rent YoY: —
• 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

-83.6% since first listed

4 events — show timeline

• 2026-05-17 Pending — WNYREIS
• 2026-02-21 Price Changed $136,000 WNYREIS
• 2026-01-15 Listed $136,600 WNYREIS
• 2021-03-01 Sold (Public Records) $830,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $207 · +0.0% YoY. Source: county tax records.