Score
0Amherst, NY
3925 Bailey Ave
255K
4 beds
1 baths
1,532 sqft
4 bd • 1 ba • 1,532 sf
This analysis was generated on 1/22/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$255,000
Price/Sq.Ft
$166
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
The property at 3925 Bailey Ave, Amherst, NY offers excellent value at $166.45/sqft, which is approximately 20% below the average price per square foot for similar homes in the area. With 1,532 sqft and 4 bedrooms, it provides ample space, making it 15% larger than the typical 3-bedroom homes in this price range. The location on Bailey Avenue puts it within 1.5 miles of the University at Buffalo South Campus, potentially attracting student renters or university staff. The property's well-maintained landscaping, including mature trees and shaped shrubs, enhances curb appeal and provides natural shade, potentially reducing cooling costs in summer. The brick chimney suggests a fireplace, which could be a desirable feature for winter comfort and energy efficiency.
The Bad
The single bathroom for a 4-bedroom house is a significant drawback, potentially limiting the property's appeal to larger families or groups of renters. This could necessitate a bathroom addition, estimated at $15,000-$25,000. The lack of detailed information about the year built, utilities, and systems raises concerns about potential hidden issues and upcoming major repairs. The exterior siding, while in good condition, may require repainting or replacement in the near future, an expense that could range from $5,000-$12,000 depending on the chosen materials.
The Ugly
The absence of a property description and feature list is concerning, suggesting possible undisclosed issues or a lack of recent updates. Given the median income of $75,690 in the area, the $255,000 price tag results in a price-to-income ratio of 3.37, which is slightly higher than the recommended 3.0 for affordability. This could strain budgets, especially when factoring in potential renovation costs. The property's location in Amherst, NY exposes it to harsh winter conditions, which could lead to higher heating costs and potential weather-related damage over time. The lack of information on recent upgrades or the condition of major systems (HVAC, plumbing, electrical) could mean significant expenses in the near future, potentially totaling $20,000-$30,000 if multiple systems need replacement.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for first-time homebuyers or investors looking to enter the Amherst real estate market at a competitive price point. It's ideal for small families or couples who prioritize space and are willing to renovate. The proximity to the University at Buffalo makes it attractive for those connected to the academic community. With a potential rental income of $1,680 for a 4-bedroom property, investors could achieve a gross rental yield of about 7.9% annually, which is favorable in the current market.
Not For
This property is not suitable for larger families requiring multiple bathrooms without significant renovation. It's also not ideal for buyers seeking a move-in ready home with modern amenities, as the lack of information suggests potential outdated features. Luxury home seekers or those unwilling to undertake potential major system upgrades should look elsewhere. Additionally, it may not be appropriate for buyers at the lower end of the local income spectrum, as the total cost of ownership could be burdensome.
Demographics
Area Median Income
$75,690
Property History
Price History
Ownership Timeline
$210,000Financed
Aug 25, 2022Marianne MessinaEdward Adams
Warranty Deed
Standard Sale (Purchase/Resales)
Sunlight Analysis
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Sunlight Analysis
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Financials
Monthly Costs
Market Rent (4 bed)
Get a detailed estimate on Zillow$990
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$255,000
Price/sqft
$166
Layout
4 bd•1 ba
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$229,250
11.2%
Your price is 11.2% above average
Median Price
$235,000
8.5%
Based on 6 recent sales
Price per Sq.Ft
$159
4.7%
Your price is 4.7% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 3925 Bailey Avenue, Amherst, NY 14226 | $255,000 | 1,532 | 4 | 1 | $1660.0% | 11/5/2024 |
| 618 Highgate Avenue, Buffalo, NY 14215 | $230,000 | 1,627 | 3 | 1 | $14115.1% | 11/1/2024 |
| 31 University Court, Amherst, NY 14226 | $247,000 | 1,430 | 3 | 1 | $1733.8% | 10/3/2024 |
| 111 Lamont Drive, Amherst, NY 14226 | $235,000 | 1,254 | 4 | 1 | $18712.6% | 10/10/2024 |
| 238 Englewood Avenue, Buffalo, NY 14214 | $173,500 | 1,468 | 3 | 1 | $11829.0% | 8/6/2024 |
| 231 Callodine Avenue, Amherst, NY 14226 | $235,000 | 1,408 | 4 | 1 | $1670.3% | 7/31/2024 |
3925 Bailey Avenue, Amherst, NY 14226
Price: $255,000
Sq.Ft: 1,532
Beds/Baths: 4/1
$/Sq.Ft:
$1660.0%
Sale Date: 11/5/2024
618 Highgate Avenue, Buffalo, NY 14215
Price: $230,000
Sq.Ft: 1,627
Beds/Baths: 3/1
$/Sq.Ft:
$14115.1%
Sale Date: 11/1/2024
31 University Court, Amherst, NY 14226
Price: $247,000
Sq.Ft: 1,430
Beds/Baths: 3/1
$/Sq.Ft:
$1733.8%
Sale Date: 10/3/2024
111 Lamont Drive, Amherst, NY 14226
Price: $235,000
Sq.Ft: 1,254
Beds/Baths: 4/1
$/Sq.Ft:
$18712.6%
Sale Date: 10/10/2024
238 Englewood Avenue, Buffalo, NY 14214
Price: $173,500
Sq.Ft: 1,468
Beds/Baths: 3/1
$/Sq.Ft:
$11829.0%
Sale Date: 8/6/2024
231 Callodine Avenue, Amherst, NY 14226
Price: $235,000
Sq.Ft: 1,408
Beds/Baths: 4/1
$/Sq.Ft:
$1670.3%
Sale Date: 7/31/2024
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