93 Farmer St · Buffalo, NY 14207

$99,000

5 bd · 1.0 ba · 1,750 sqft · SingleFamily public records · 34 Days on market

Built 1910 5,049 sqft lot Est $164k · 40% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.5/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this spacious, 4 bedroom single, with fully fenced yard, multiple fruit trees and conveniently located! Updates include: Full electric service breaker to pole connection 2012 Full tear off roof and gutter and leaf system 2012, Water main replacement at street 2016, replacement Anderson wood windows , tile floor kitchen, 1st floor washer and dryer, 1st floor master w/ rear concrete patio off master, Aluminum sided exterior painted 2019 , Boiler in basement ready for reconnection boiler valued at 8k new owner would have to install fin tube radiant registers to use as main heat source, or seller will install with acceptable offer, Currently heated 3 gas space heaters, affordable and ready to build equity with finishing touches! make offer! No showings until Tuesday, January 18th at 1pm.

Key facts

• Anderson windows
• Fenced yard
• Newer roof

Tags

• FENCED YARD
• FRUIT TREES
• NEWER ROOF
• UPDATED ELECTRIC
• ANDERSON WINDOWS
• WATER MAIN REPLACEMENT

Property features AI

Exterior

• Parking: No garage; No driveway
• Utilities: Public water (connected); Sewer connected
• Home design: 2-story home; Existing/resale condition
• Construction: Vinyl siding; Block foundation
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 34 x 148

Interior

• Kitchen: Gas water heater
• Bedrooms: 2 main-level bedrooms
• Flooring: Hardwood; Varies
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas heating; Space heater
• Interior features: Eat-in kitchen; Bonus room; Crawl space basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• Cap rate 25.3% vs local median 8.0% 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 rising fast (+8.2%/yr); 199 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,719/mo this rent would consume 82% of the median local household income ($40k/yr) (locally 2177% 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 $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 19y ago; this cycle's ask has dropped $16k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $63k; list at $99k implies a 57% 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 $96,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.75% ✓
• Cap rate: 25.28%
• Cash-on-cash: 67.82%
• DSCR: 4.02
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $164,500
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
350 East St	0.07mi	4/1.0 (-1)	1,752 (+0%)	3mo	$110,000	$63	89
62 Kail St	0.42mi	4/2.0 (-1)	1,757 (+0%)	7mo	$65,000	$37	65
96 Amherst St	0.37mi	4/1.0 (-1)	1,786 (+2%)	15mo	$62,000	$35	62
41 Hamilton St	0.28mi	5/2.0	1,954 (+12%)	2mo	$211,150	$108	62
476 East St	0.29mi	4/2.0 (-1)	1,618 (-8%)	6mo	$100,000	$62	59
111 Gorton St	0.20mi	4/1.0 (-1)	1,508 (-14%)	6mo	$164,900	$109	58
5 Copeland Pl	0.63mi	4/1.0 (-1)	1,780 (+2%)	7mo	$70,000	$39	57
278 East St	0.09mi	4/1.5 (-1)	1,973 (+13%)	18mo	$185,000	$94	53
433 East St	0.21mi	4/1.0 (-1)	1,512 (-14%)	17mo	$200,000	$132	48
162 Dearborn St	0.47mi	4/2.0 (-1)	1,920 (+10%)	14mo	$230,000	$120	41
89 Thompson St	0.30mi	4/2.0 (-1)	1,522 (-13%)	20mo	$110,000	$72	39
44 Gallatin Ave	0.69mi	4/2.0 (-1)	1,532 (-12%)	5mo	$149,000	$97	34

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 72.5%
• Equity multiple: 4.54×
• Total profit: $98,086
• Equity at exit: $14,761

10-year hold

• IRR: 77.8%
• Equity multiple: 11.07×
• Total profit: $279,198
• Equity at exit: $8,560

Cash invested: $27,720 (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 14207

• Home prices YoY: -18.9%
• Rents YoY: 8.2%
• Active inventory: 199
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $2,719 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$21 /mo · $247/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$571
• Net cashflow: $1,567

Break-even live

Break-even rent $735

Max offer price $99,000

Occupancy floor 37%

Sensitivity live

Price	-10% $1,623	-5% $1,595	+0% $1,567	+5% $1,539	+10% $1,511
Rent	-10% $1,352	-5% $1,459	+0% $1,567	+5% $1,674	+10% $1,781
Rate	-1.0pp $1,617	-0.5pp $1,592	base $1,567	+0.5pp $1,541	+1.0pp $1,515

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Forest Ave Buffalo, NY	2.0–4.0	2.0–4.0	1304	$2,560	$1.96	3d	14	0.87mi
836 Richmond Ave Buffalo, NY	4.0	3.5	1982	$4,500	$2.27	45d	1	1.42mi

Listing history 30 events

1. 2026-06-21
   days on market $99,000 Active 34 DOM
2. 2026-06-18
   days on market $99,000 Active 31 DOM
3. 2026-06-17
   days on market $99,000 Active 30 DOM
4. 2026-06-16
   days on market $99,000 Active 29 DOM
5. 2026-06-15
   days on market $99,000 Active 28 DOM
6. 2026-06-13
   days on market $99,000 Active 26 DOM
7. 2026-06-13
   days on market $99,000 Active 25 DOM
8. 2026-06-10
   pricedays on market $99,000 Active 23 DOM
9. 2026-06-09
   days on market $101,000 Active 22 DOM
10. 2026-06-08
    days on market $101,000 Active 21 DOM
11. 2026-06-07
    days on market $101,000 Active 20 DOM
12. 2026-06-03
    days on market $101,000 Active 16 DOM
13. 2026-06-02
    days on market $101,000 Active 15 DOM
14. 2026-06-01
    days on market $101,000 Active 14 DOM
15. 2026-05-31
    days on market $101,000 Active 13 DOM
16. 2026-05-22
    price $109,000
17. 2026-05-18
    listed $115,000 Active
18. 2022-05-09
    soldstatus $63,000 Closed Sale or Rented 812-char remark

    Show marketing remark (812 chars)

    Welcome home to this spacious, 4 bedroom single, with fully fenced yard, multiple fruit trees and conveniently located! Updates include: Full electric service breaker to pole connection 2012 Full tear off roof and gutter and leaf system 2012, Water main replacement at street 2016, replacement Anderson wood windows , tile floor kitchen, 1st floor washer and dryer, 1st floor master w/ rear concrete patio off master, Aluminum sided exterior painted 2019 , Boiler in basement ready for reconnection boiler valued at 8k new owner would have to install fin tube radiant registers to use as main heat source, or seller will install with acceptable offer, Currently heated 3 gas space heaters, affordable and ready to build equity with finishing touches! make offer! No showings until Tuesday, January 18th at 1pm.

19. 2022-02-11
    status Pending Sale 812-char remark

    Show marketing remark (812 chars)

    Welcome home to this spacious, 4 bedroom single, with fully fenced yard, multiple fruit trees and conveniently located! Updates include: Full electric service breaker to pole connection 2012 Full tear off roof and gutter and leaf system 2012, Water main replacement at street 2016, replacement Anderson wood windows , tile floor kitchen, 1st floor washer and dryer, 1st floor master w/ rear concrete patio off master, Aluminum sided exterior painted 2019 , Boiler in basement ready for reconnection boiler valued at 8k new owner would have to install fin tube radiant registers to use as main heat source, or seller will install with acceptable offer, Currently heated 3 gas space heaters, affordable and ready to build equity with finishing touches! make offer! No showings until Tuesday, January 18th at 1pm.

20. 2022-02-08
    status Active 812-char remark

    Show marketing remark (812 chars)

    Welcome home to this spacious, 4 bedroom single, with fully fenced yard, multiple fruit trees and conveniently located! Updates include: Full electric service breaker to pole connection 2012 Full tear off roof and gutter and leaf system 2012, Water main replacement at street 2016, replacement Anderson wood windows , tile floor kitchen, 1st floor washer and dryer, 1st floor master w/ rear concrete patio off master, Aluminum sided exterior painted 2019 , Boiler in basement ready for reconnection boiler valued at 8k new owner would have to install fin tube radiant registers to use as main heat source, or seller will install with acceptable offer, Currently heated 3 gas space heaters, affordable and ready to build equity with finishing touches! make offer! No showings until Tuesday, January 18th at 1pm.

21. 2022-02-08
    status Under Contract- Do Not Show 812-char remark

    Show marketing remark (812 chars)

    Welcome home to this spacious, 4 bedroom single, with fully fenced yard, multiple fruit trees and conveniently located! Updates include: Full electric service breaker to pole connection 2012 Full tear off roof and gutter and leaf system 2012, Water main replacement at street 2016, replacement Anderson wood windows , tile floor kitchen, 1st floor washer and dryer, 1st floor master w/ rear concrete patio off master, Aluminum sided exterior painted 2019 , Boiler in basement ready for reconnection boiler valued at 8k new owner would have to install fin tube radiant registers to use as main heat source, or seller will install with acceptable offer, Currently heated 3 gas space heaters, affordable and ready to build equity with finishing touches! make offer! No showings until Tuesday, January 18th at 1pm.

22. 2022-02-07
    price $67,000 812-char remark

    Show marketing remark (812 chars)

    Welcome home to this spacious, 4 bedroom single, with fully fenced yard, multiple fruit trees and conveniently located! Updates include: Full electric service breaker to pole connection 2012 Full tear off roof and gutter and leaf system 2012, Water main replacement at street 2016, replacement Anderson wood windows , tile floor kitchen, 1st floor washer and dryer, 1st floor master w/ rear concrete patio off master, Aluminum sided exterior painted 2019 , Boiler in basement ready for reconnection boiler valued at 8k new owner would have to install fin tube radiant registers to use as main heat source, or seller will install with acceptable offer, Currently heated 3 gas space heaters, affordable and ready to build equity with finishing touches! make offer! No showings until Tuesday, January 18th at 1pm.

23. 2022-01-14
    listed $70,000 Active 812-char remark

    Show marketing remark (812 chars)

    Welcome home to this spacious, 4 bedroom single, with fully fenced yard, multiple fruit trees and conveniently located! Updates include: Full electric service breaker to pole connection 2012 Full tear off roof and gutter and leaf system 2012, Water main replacement at street 2016, replacement Anderson wood windows , tile floor kitchen, 1st floor washer and dryer, 1st floor master w/ rear concrete patio off master, Aluminum sided exterior painted 2019 , Boiler in basement ready for reconnection boiler valued at 8k new owner would have to install fin tube radiant registers to use as main heat source, or seller will install with acceptable offer, Currently heated 3 gas space heaters, affordable and ready to build equity with finishing touches! make offer! No showings until Tuesday, January 18th at 1pm.

24. 2019-03-08
    historical
25. 2018-10-28
    listed $79,900 Active
26. 2012-09-10
    listed $45,000
27. 2012-09-07
    historical
28. 2012-09-06
    historical
29. 2011-11-29
    listed $50,000
30. 2007-05-25
    listed $29,900

ⓘ 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: $247 · $21/mo
• Projected year-2 tax: $960 · $80/mo
• Expected delta: +$713/yr (+$59/mo · 289.2%)

ⓘ 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 ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,623
• − Mortgage interest: −$5,546
• − Property taxes: −$247
• − Insurance: −$495
• − Repairs & maintenance: −$2,610
• − Management: −$2,610
• − Depreciation: −$2,880
• Taxable income: $18,236
• Est. tax owed @ 24.0%: −$4,377
• After-tax cash flow: $14,424/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): 26,327
• Household income: $39,753
• Rent vs Own: 65.0% rent · 35.0% own
• Severe rent burden: 2177.0

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: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: White 40% Hispanic / Latino 23% Black 16% Asian 15% Two or more races 14%
• Hispanic origin (detail): Puerto Rican 18% Dominican 2%
• Common ancestry: Romanian 8% Portuguese 1% Arab 1%
• Foreign-born: 19% · Philippines, Canada, India
• Languages at home: 65% English-only · Spanish 14% Other Asian/Pacific 10% Other Indo-European 5%

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: ▼ -54.42%
• Current HPI: 233.0902
• Rent YoY: ▲ 8.19%
• 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

+264.5% since first listed

15 events — show timeline

• 2026-05-22 Price Changed $109,000 WNYREIS
• 2026-05-18 Listed $115,000 WNYREIS
• 2022-05-09 Sold (MLS) $63,000 WNYREIS
• 2022-02-11 Pending — WNYREIS
• 2022-02-08 Relisted — WNYREIS
• 2022-02-08 Pending — WNYREIS
• 2022-02-07 Price Changed $67,000 WNYREIS
• 2022-01-14 Listed $70,000 WNYREIS
• 2019-03-08 Listing Removed — WNYREIS
• 2018-10-28 Listed $79,900 WNYREIS
• 2012-09-10 Listed $45,000 WNYREIS
• 2012-09-07 Listing Removed — WNYREIS
• 2012-09-06 Listing Removed — WNYREIS
• 2011-11-29 Listed $50,000 WNYREIS
• 2007-05-25 Listed $29,900 WNYREIS

Property tax history

+3.6%/yr

Latest (2025): $247 · +0.0% YoY. Source: county tax records.