95 Custer St · Buffalo, NY 14214

$289,900

5 bd · 2.0 ba · 2,304 sqft · MultiFamily public records · 41 Days on market

Built 1910 3,330 sqft lot $126/sqft · 33% below area Est $434k · 33% 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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +5.2/10.0
• 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: 2 units. confirmed

Listing remarks MLS

* * * INVESTMENT OPPORTUNITY * * * 3/2 Double in University Heights area. Close to UB South Campus, Main Street Bus, Rapid Transit, & shops, Steps from Shoshone Park & North Buffalo Rails to Trails path. Many original features including hardwood floors, natural woodwork, kitchen cabinetry. Each unit has a front porch. Property is an estate and is sold “AS IS”. Sewer tax = 98.16

Key facts

• New plumbing
• Updated bathrooms
• New appliances

Tags

• VACANT DUPLEX
• UPDATED BATHROOMS
• NEW APPLIANCES
• MODERN LIGHTING FIXTURES
• NEW ELECTRIC
• NEW PLUMBING

Property features AI

Finance

• Other: Two separate electric meters; Two separate gas meters; Two total units; Lot is rectangular, near public transit, on a city street
• Financial info: Owner pays water and trash collection; Operating expenses may include building maintenance and water/sewer (multifamily)

Exterior

• Parking: Detached 2-car garage; Concrete parking surface
• Utilities: Electricity connected (circuit breakers); Public water connected; Sewer connected
• Home design: Two-story building; Residential two-unit property; Existing (previously built)
• Construction: Asphalt architectural shingle roof; Composite siding; Block foundation; Copper and PEX plumbing; Attic/crawl hatchway(s) insulated
• Exterior features: Balcony; Porch (open); Partial fencing

Interior

• Kitchen: Oven/Range; Refrigerator
• Bedrooms: One unit with 2 bedrooms; One unit with 3 bedrooms
• Flooring: Carpet; Hardwood; Luxury vinyl; Tile; Varied flooring
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas heating with forced air; Central air conditioning
• Interior features: Ceiling fans; Built-in storage; Natural woodwork
• Laundry & utility: Washer hookup; Dryer (listed in one unit); Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $290k.

Deal economics

• At list price, monthly cash flow is $632 ($8k/yr) — positive. Per door: $316/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $290k).
• Recommended offer: $281k (3.0% 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: Rents rising fast (+5.8%/yr); 90 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,943/mo this rent would consume 61% 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 ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $122k; list at $290k implies a 137% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $281,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% 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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.02% ✓
• Cap rate: 8.91%
• Cash-on-cash: 9.34%
• DSCR: 1.42
• GRM: 8.2

CMA / ARV

• ARV (median comp): $434,461
• List price: $289,900
• Delta: -33.27%
• 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
39 Custer St	0.11mi	6/2.0 (+1)	2,323 (+1%)	18mo	$275,000	$118	73
150 Englewood Ave	0.34mi	6/2.0 (+1)	2,239 (-3%)	5mo	$338,000	$151	70
19 Dunlop Ave	0.63mi	5/2.0	2,160 (-6%)	6mo	$160,000	$74	56
366 Beard Ave	0.32mi	6/2.0 (+1)	2,482 (+8%)	17mo	$400,000	$161	53
319 Lisbon Ave	0.75mi	6/2.0 (+1)	2,263 (-2%)	6mo	$335,000	$148	52
235 Heath St	0.35mi	6/2.0 (+1)	2,058 (-11%)	10mo	$303,000	$147	52
192 Lisbon Ave	0.51mi	6/2.0 (+1)	2,526 (+10%)	4mo	$247,000	$98	52
116 Nicholson St	0.48mi	6/2.0 (+1)	2,464 (+7%)	13mo	$151,000	$61	50
20 Hawthorne Ave	0.64mi	6/2.0 (+1)	2,208 (-4%)	11mo	$312,000	$141	49
266 Lasalle Ave	0.62mi	6/3.5 (+1)	2,395 (+4%)	8mo	$350,000	$146	47
1829 Hertel Ave	0.52mi	6/2.0 (+1)	2,528 (+10%)	16mo	$365,000	$144	41
1 Emsworth Ave	0.72mi	5/3.0	2,482 (+8%)	17mo	$250,000	$101	35

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: 0.5%
• Equity multiple: 1.02×
• Total profit: $1,661
• Equity at exit: $43,225

10-year hold

• IRR: 12.5%
• Equity multiple: 2.11×
• Total profit: $89,840
• Equity at exit: $25,065

Cash invested: $81,172 (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: 16.4×

Monthly cashflow live

• Estimated rent: $2,943 high
• Mortgage (P&I): −$1,520
• Tax from tax record: −$52 /mo · $627/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$618
• Net cashflow: $632

Break-even live

Break-even rent $2,143

Max offer price $289,900

Occupancy floor 74%

Sensitivity live

Price	-10% $796	-5% $714	+0% $632	+5% $550	+10% $121
Rent	-10% $399	-5% $515	+0% $632	+5% $748	+10% $864
Rate	-1.0pp $778	-0.5pp $705	base $632	+0.5pp $557	+1.0pp $480

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,942
Total (2 units)			$2,943

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 11 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	0.14mi
85 Highgate Ave Buffalo, NY	5.0	2.0	2193	$3,750	$1.71	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
102 Englewood Ave Buffalo, NY	4.0	1.0	2426	$2,750	$1.13	2d	1	0.36mi
91 Englewood Ave Buffalo, NY	4.0	1.0	2500	$2,000	$0.80	2d	1	0.39mi
196 Englewood Ave Buffalo, NY	5.0	1.5	2560	$2,000	$0.78	2d	1	0.40mi
63 Montrose Ave Buffalo, NY	4.0	1.0	2240	$2,000	$0.89	2d	1	0.46mi
175 Lisbon Ave Buffalo, NY	5.0	2.0	2000	$2,500	$1.25	15d	1	0.48mi
80 Capen Blvd Buffalo, NY	5.0	2.5	2591	$2,800	$1.08	2d	1	0.77mi
91 Springville Ave Buffalo, NY	4.0	2.0	1660	$2,350	$1.42	24d	1	1.10mi
4098 Bailey Ave Buffalo, NY	5.0	2.5	2108	$2,200	$1.04	44d	1	1.43mi

Listing history 23 events

1. 2026-06-18
   days on market $289,900 Active 41 DOM
2. 2026-06-17
   days on market $289,900 Active 40 DOM
3. 2026-06-16
   days on market $289,900 Active 39 DOM
4. 2026-06-15
   days on market $289,900 Active 38 DOM
5. 2026-06-13
   days on market $289,900 Active 36 DOM
6. 2026-06-13
   days on market $289,900 Active 35 DOM
7. 2026-06-10
   days on market $289,900 Active 33 DOM
8. 2026-06-09
   days on market $289,900 Active 32 DOM
9. 2026-06-08
   remarks 695-char remark
10. 2026-06-08
    pricedays on market $289,900 Active 31 DOM
11. 2026-06-07
    days on market $294,900 Active 30 DOM
12. 2026-06-03
    days on market $294,900 Active 26 DOM
13. 2026-06-02
    days on market $294,900 Active 25 DOM
14. 2026-06-01
    days on market $294,900 Active 24 DOM
15. 2026-05-31
    days on market $294,900 Active 23 DOM
16. 2026-05-08
    listed $294,900 Active 707-char remark
17. 2023-08-08
    soldstatus $122,500
18. 2023-08-03
    soldstatus $122,500 Closed Sale or Rented 409-char remark

    Show marketing remark (409 chars)

    * * * INVESTMENT OPPORTUNITY * * * 3/2 Double in University Heights area. Close to UB South Campus, Main Street Bus, Rapid Transit, & shops, Steps from Shoshone Park & North Buffalo Rails to Trails path. Many original features including hardwood floors, natural woodwork, kitchen cabinetry. Each unit has a front porch. Property is an estate and is sold “AS IS”. Sewer tax = 98.16

19. 2023-06-14
    status Under Contract- Do Not Show 409-char remark

    Show marketing remark (409 chars)

    * * * INVESTMENT OPPORTUNITY * * * 3/2 Double in University Heights area. Close to UB South Campus, Main Street Bus, Rapid Transit, & shops, Steps from Shoshone Park & North Buffalo Rails to Trails path. Many original features including hardwood floors, natural woodwork, kitchen cabinetry. Each unit has a front porch. Property is an estate and is sold “AS IS”. Sewer tax = 98.16

20. 2023-05-31
    price $130,000 409-char remark

    Show marketing remark (409 chars)

    * * * INVESTMENT OPPORTUNITY * * * 3/2 Double in University Heights area. Close to UB South Campus, Main Street Bus, Rapid Transit, & shops, Steps from Shoshone Park & North Buffalo Rails to Trails path. Many original features including hardwood floors, natural woodwork, kitchen cabinetry. Each unit has a front porch. Property is an estate and is sold “AS IS”. Sewer tax = 98.16

21. 2023-05-11
    status Active 409-char remark

    Show marketing remark (409 chars)

    * * * INVESTMENT OPPORTUNITY * * * 3/2 Double in University Heights area. Close to UB South Campus, Main Street Bus, Rapid Transit, & shops, Steps from Shoshone Park & North Buffalo Rails to Trails path. Many original features including hardwood floors, natural woodwork, kitchen cabinetry. Each unit has a front porch. Property is an estate and is sold “AS IS”. Sewer tax = 98.16

22. 2023-05-03
    historical Continue to Show- Under Contract 409-char remark

    Show marketing remark (409 chars)

    * * * INVESTMENT OPPORTUNITY * * * 3/2 Double in University Heights area. Close to UB South Campus, Main Street Bus, Rapid Transit, & shops, Steps from Shoshone Park & North Buffalo Rails to Trails path. Many original features including hardwood floors, natural woodwork, kitchen cabinetry. Each unit has a front porch. Property is an estate and is sold “AS IS”. Sewer tax = 98.16

23. 2023-04-17
    listed $154,000 Active 409-char remark

    Show marketing remark (409 chars)

    * * * INVESTMENT OPPORTUNITY * * * 3/2 Double in University Heights area. Close to UB South Campus, Main Street Bus, Rapid Transit, & shops, Steps from Shoshone Park & North Buffalo Rails to Trails path. Many original features including hardwood floors, natural woodwork, kitchen cabinetry. Each unit has a front porch. Property is an estate and is sold “AS IS”. Sewer tax = 98.16

ⓘ 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: $627 · $52/mo
• Projected year-2 tax: $2,763 · $230/mo
• Expected delta: +$2,136/yr (+$178/mo · 340.4%)

ⓘ 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) · 20% 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: $35,316
• − Mortgage interest: −$16,239
• − Property taxes: −$627
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,825
• − Management: −$2,825
• − Depreciation: −$8,433
• Taxable income: $2,916
• Est. tax owed @ 24.0%: −$700
• After-tax cash flow: $6,880/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

+88.2% since first listed

9 events — show timeline

• 2026-06-08 Price Changed $289,900 WNYREIS
• 2026-05-08 Listed $294,900 WNYREIS
• 2023-08-08 Sold (Public Records) $122,500 Public Records
• 2023-08-03 Sold (MLS) $122,500 WNYREIS
• 2023-06-14 Pending — WNYREIS
• 2023-05-31 Price Changed $130,000 WNYREIS
• 2023-05-11 Relisted — WNYREIS
• 2023-05-03 Contingent — WNYREIS
• 2023-04-17 Listed $154,000 WNYREIS

Property tax history

+6.6%/yr

Latest (2025): $627 · +8.7% YoY. Source: county tax records.