NOT LISTED FOR SALE

588 Potomac Ave Buffalo, NY 14222

Elmwood Bidwell Neighborhood

Estimated Value: $476,829 - $574,000

5 Beds
3 Baths
2,511 Sq Ft
$210/Sq Ft Est. Value

Last Sold May 04, 2018

Last sale price $250,000 $100 Per Sq Ft

Est. 111% increase in value since last sale

Current estimated payment $2,891/month

154 Days on Market

Highlights

  • Wood Flooring
  • Fenced Yard
  • Property is near bus stop
  • 2 Fireplaces
  • Forced Air Cooling System
  • 2-minute walk to Bidwell Parkway

About This Home

As of May 2018

Elmwood Village three unit apartment building steps from Elmwood Avenue - property features stunning natural woodwork - separate utilities - each apartment has a living room with hardwood flooring, formal dining room, kitchen and a bathroom - covered lower and upper porches - fully fenced back yard - modern mechanical systems - full basement - updated electrical system - property is in the high demand area of the Elmwood Village - add this building to your portfolio today! This area has many planned redevelopment projects.

Last Agent to Sell the Property

Renee J. Moran

Listing by Red Door Real Estate WNY LLC License #10491202951 Listed on: 10/30/2017

Last Buyer's Agent

Annette Fachko

Listing by No Office Affiliation

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,115

Year Built

  • Built in 1925

Lot Details

  • 2,960 Sq Ft Lot
  • Lot Dimensions are 80 x 37
  • Fenced Yard

Parking

  • No Driveway

Home Design

  • Brick Exterior Construction
  • Block Foundation

Interior Spaces

  • 2,511 Sq Ft Home
  • 3-Story Property
  • 2 Fireplaces
  • Gas Fireplace
  • Basement Fills Entire Space Under The House
  • Gas Cooktop

Flooring

  • Wood
  • Laminate

Location

  • Property is near bus stop

Utilities

  • Forced Air Cooling System
  • Multiple Heating Units
  • Space Heater
  • Heating System Uses Gas
  • Gas Water Heater

Listing and Financial Details

  • Rent includes hot water, snow removal, water
  • Tax Lot 20
  • Assessor Parcel Number 140200-089-690-0003-020-000

Community Details

Overview

  • 3 Units

Building Details

  • 4 Separate Electric Meters
  • 3 Separate Gas Meters

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,115

Year Built

Built in 1925

Lot Details

0

Listing Details

  • NY Swis Code: Buffalo City-140200
  • Total Assessed Value: 128000
  • Foundation Description: Block
  • Listing Type: Exclusive Right To Sell
  • Lot Dimension Depth: 80
  • Lot Dimension Front: 37
  • Lot Information: Near Bus Line, Neighborhood Street
  • Lot Number: 20
  • Nearest Cross Street: Elmwood
  • Number of Stories: 3.0000
  • Property Type: Multi-Family Res (2-4) units
  • Ratio Close Price By Acres: 3676470.59
  • Ratio Close Price By Sq Ft: 99.56
  • Ratio List Price By Acres: 4338235.29
  • Ratio List Price By Sq Ft: 117.48
  • Regional Board Code: Buffalo
  • Rent Includes: Hot Water, Snow Removal, Water
  • School Tax: 1143
  • Sub Board Code: Buffalo
  • Type of Residence: 3 Unit
  • Type of Sale: Normal
  • Year Built Description: Existing
  • Lot Sq Ft: 2960
  • Age of Building: 97
  • Year Built: 1925
  • Directions To Property: Potomac is a one-way street. Turn off of Richmond and property is 1 building from Elmwood on the left side of street.
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 3
  • Year Built: 1925

Interior Features

  • Basement Description: Full
  • Floor Description: Hardwood-Some, Laminate-Some
  • Kitchen Appliances Included: Cooktop - Gas, Refrigerator
  • Number of Fireplaces Gas: 2
  • Number of Fireplaces Not Repto Code: 2
  • Number of Fireplaces Total Calculated: 2
  • Total Sq Ft: 2511

Exterior Features

  • Construction: Brick, Wood
  • Additional Exterior Features: Fully Fenced Yard
  • Number of Acres: 0.0680

Garage/Parking

  • Number of Electric Meters: 4
  • Parking Driveway: No Driveway

Utilities

  • Heating Fuel Description: Gas
  • Hvac Type: Forced Air, Space Heater
  • Number of Gas Meters: 3
  • Number of Heating Units: 3
  • Sewer Description: Sewer Connected
  • Water Heater Fuel: Gas

Lot Info

  • Parcel Number: 140200-089-690-0003-020-000

Rental Info

  • Certificate of Occupancy: Negotiable

Multi Family

  • Total Number Of Apartments: 3

Tax Info

  • Total Taxes: 3115

MLS Schools

  • School District Name: Buffalo

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jan 11, 2019
Sold by
M & V Ventures Llc
Bought by
Vmy Properties Llc
Current Estimated Value
$528,207

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$617,550
Outstanding Balance
$542,952
Interest Rate
4.6%
Mortgage Type
Commercial
Estimated Equity
-$14,745

Purchase Details

Listed on
Oct 30, 2017
Closed on
May 7, 2018
Sold by
Elmwood Bidwell Redevelopment Co Llc
Bought by
M & V Ventures Llc
Seller's Agent
Renee J. Moran
Red Door Real Estate WNY LLC
Buyer's Agent
Annette Fachko
No Office Affiliation
List Price
$300,000
Sold Price
$250,000
Premium/Discount to List
-$50,000
-16.67%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.24%

Purchase Details

Closed on
Aug 19, 2014
Sold by
Leone Donald J
Bought by
Lemgritz Holdings Llc

Purchase Details

Closed on
Feb 22, 1995
Sold by
Derwald Richard
Bought by
Leone Donald
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Vmy Properties Llc -- None Available
M & V Ventures Llc $250,000 None Available
Lemgritz Holdings Llc -- None Available
Leone Donald $70,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Vmy Properties Llc $617,550
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/04/2018 05/04/18 Sold $250,000 -15.3% $100 / Sq Ft
04/02/2018 04/02/18 Pending -- -- --
02/27/2018 02/27/18 Price Changed $295,000 -1.7% $117 / Sq Ft
10/30/2017 10/30/17 For Sale $300,000 -- $119 / Sq Ft
Source: Western New York Real Estate Information Services (WNYREIS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $1,580 $282,000 $18,000 $264,000
2023 $1,429 $282,000 $18,000 $264,000
2022 $1,418 $282,000 $18,000 $264,000
2021 $1,418 $282,000 $18,000 $264,000
2020 $985 $282,000 $18,000 $264,000
2019 $3,512 $128,000 $9,200 $118,800
2018 $3,305 $128,000 $9,200 $118,800
2017 $0 $128,000 $9,200 $118,800
Source: Public Records

Agents Affiliated with this Home

  • Renee J. Moran

    Seller's Agent in 2018

    Renee J. Moran

    Red Door Real Estate WNY LLC

    (716) 768-1177

    2 in this area

    262 Total Sales

    Renee J. Moran
    Section Image
  • Annette Fachko

    Buyer's Agent in 2018

    Annette Fachko

    No Office Affiliation

    (716) 523-1009

    13 in this area

    808 Total Sales

    Annette Fachko
    Section Image
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Map

Source: Western New York Real Estate Information Services (WNYREIS)

MLS Number: B1083220

Western New York Real Estate Information Services (WNYREIS)

APN: 140200 89.69-3-20.11

New York Erie County Buffalo 14222 Elmwood Bidwell

588 Potomac Ave, Buffalo, NY

Not Listed for Sale

MultiFamily

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