163 Winslow Ave · Buffalo, NY 14208

$119,900

6 bd · 2.0 ba · 1,804 sqft · MultiFamily public records · 44 Days on market

Built 1910 3,090 sqft lot $66/sqft · 48% below area Est $230k · 48% under

---

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
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• 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

Welcome to 163 Winslow Ave, Buffalo, NY 14208– a charming Multi-family home located in a desirable neighborhood. The lower level features 3 spacious bedrooms and a full bathroom, a bright living room, dining area, and a kitchen. The upper level offers 3 bedrooms, a full bathroom. an Ideal house for Owner-Occupier or investor, as it is in a quiet neighborhood and close to all conveniences.

Key facts

• 3,090 sq ft lot
• Built 1910
• Listed 44 days

Property features AI

Finance

• Financial info: Owner pays water; water is included in rent; Operating expense details: See remarks; Multifamily property with 2 total units

Exterior

• Parking: Concrete parking
• Utilities: Public water connected; Sewer connected
• Home design: 2-story building
• Construction: Frame construction; Asphalt roof; Stone foundation; Existing (previously built)
• Exterior features: Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas water heater (appliance listed)
• Bedrooms: Two separate 3-bedroom units (each unit has 3 bedrooms)
• Flooring: Hardwood; Laminate; Tile; Varies
• Bathrooms: Two full bathrooms total (each unit has 1 full bathroom)
• Heating & cooling: Gas forced-air heating
• Interior features: Accessible doors; Partial basement
• Laundry & utility: Separate gas meters for each unit; Separate electric meters for each unit

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $120k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 28.1% 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.
• Market conditions: 54 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,663/mo this rent would consume 91% of the median local household income ($48k/yr) (locally 723% 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 $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $65k; list at $120k implies a 84% 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 $116,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 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 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: 3.06% ✓
• Cap rate: 28.11%
• Cash-on-cash: 77.91%
• DSCR: 4.47
• GRM: 2.7

CMA / ARV

• ARV (median comp): $230,282
• List price: $119,900
• Delta: -47.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
81 Lark St	0.46mi	5/2.0 (-1)	1,824 (+1%)	14mo	$150,000	$82	60
65 Kingsley St	0.41mi	5/2.0 (-1)	1,884 (+4%)	11mo	$230,000	$122	59
45 Daisy Pl	0.59mi	5/3.0 (-1)	1,784 (-1%)	6mo	$165,000	$92	56
24 Winslow Ave	0.27mi	5/2.0 (-1)	2,024 (+12%)	8mo	$220,000	$109	56
707 Riley St	0.43mi	6/2.0	1,994 (+10%)	11mo	$130,000	$65	54
49 Urban St	0.55mi	5/3.0 (-1)	1,849 (+2%)	9mo	$115,000	$62	54
1602 Jefferson Ave	0.56mi	5/2.0 (-1)	1,936 (+7%)	8mo	$290,000	$150	50
115 Box Ave	0.62mi	6/2.0	2,044 (+13%)	18mo	$95,000	$46	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 77.9%
• Equity multiple: 4.56×
• Total profit: $119,372
• Equity at exit: $17,877

10-year hold

• IRR: 81.5%
• Equity multiple: 9.42×
• Total profit: $282,634
• Equity at exit: $10,367

Cash invested: $33,572 (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 14208

• Home prices YoY: -3.4%
• Active inventory: 54
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $3,663 high
• Mortgage (P&I): −$629
• Tax from tax record: −$36 /mo · $426/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$769
• Net cashflow: $2,180

Break-even live

Break-even rent $904

Max offer price $119,900

Occupancy floor 36%

Sensitivity live

Price	-10% $2,247	-5% $2,213	+0% $2,180	+5% $2,146	+10% $2,112
Rent	-10% $1,890	-5% $2,035	+0% $2,180	+5% $2,324	+10% $2,469
Rate	-1.0pp $2,240	-0.5pp $2,210	base $2,180	+0.5pp $2,148	+1.0pp $2,117

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,662
Total (2 units)			$3,663

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15 Hughes Ave Buffalo, NY	7.0	2.0	1650	$3,000	$1.82	44d	1	0.85mi
518 Wilson St Buffalo, NY	5.0	1.5	1848	$1,500	$0.81	24d	1	1.00mi

Listing history 16 events

1. 2026-06-18
   days on market $119,900 Active 44 DOM
2. 2026-06-17
   days on market $119,900 Active 43 DOM
3. 2026-06-16
   days on market $119,900 Active 42 DOM
4. 2026-06-15
   days on market $119,900 Active 41 DOM
5. 2026-06-13
   days on market $119,900 Active 39 DOM
6. 2026-06-13
   days on market $119,900 Active 38 DOM
7. 2026-06-10
   days on market $119,900 Active 36 DOM
8. 2026-06-09
   days on market $119,900 Active 35 DOM
9. 2026-06-08
   days on market $119,900 Active 34 DOM
10. 2026-06-07
    days on market $119,900 Active 33 DOM
11. 2026-06-03
    days on market $119,900 Active 29 DOM
12. 2026-06-02
    days on market $119,900 Active 28 DOM
13. 2026-06-01
    days on market $119,900 Active 27 DOM
14. 2026-05-31
    days on market $119,900 Active 26 DOM
15. 2026-05-05
    listed $119,900 Active 398-char remark
16. 2021-03-01
    soldstatus $65,000

ⓘ 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: $426 · $36/mo
• Projected year-2 tax: $1,226 · $102/mo
• Expected delta: +$800/yr (+$67/mo · 187.8%)

ⓘ 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: $43,956
• − Mortgage interest: −$6,716
• − Property taxes: −$426
• − Insurance: −$600
• − Repairs & maintenance: −$3,516
• − Management: −$3,516
• − Depreciation: −$3,488
• Taxable income: $25,693
• Est. tax owed @ 24.0%: −$6,166
• After-tax cash flow: $19,988/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): 12,572
• Household income: $48,476
• Rent vs Own: 46.2% rent · 53.8% own
• Severe rent burden: 723.0

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: Predominantly Black (72%)
• Race & ethnicity: Black 72% White 15% Asian 6% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 2% Italian 1% Hispanic 0%
• Foreign-born: 7% · Canada, South Korea, Philippines
• Languages at home: 89% English-only · Other Indo-European 3% Spanish 2% French/Haitian/Cajun 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: ▼ -16.37%
• Current HPI: 459.2084
• 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

+84.5% since first listed

2 events — show timeline

• 2026-05-05 Listed $119,900 WNYREIS
• 2021-03-01 Sold (Public Records) $65,000 Public Records

Property tax history

+12.3%/yr

Latest (2025): $426 · +111.1% YoY. Source: county tax records.