In Erie County (Buffalo), New York (Erie County (Buffalo), NY metro), 1–4 unit investment properties carry an average effective property tax rate of 2.15% and landlord hazard insurance averaging $580 per $100K of coverage. At a median 1–4 unit acquisition price of $255,000 and Form 1007 market rent of $2,150/mo, a 75% LTV DSCR loan models at 1.18x DSCR ($1,820/mo total PITIA).
Statutory county assessor periodic revaluation; underwriters use post-acquisition projected tax bill (typically 85%–100% of purchase price × county millage rate).
Western NY Duplex/Triplex Cash-Flow Corridor
NY Mortgage Recording Tax (1.80%–2.80% depending on county and loan size) — eligible for 40%–70% reduction via NY CEMA (Consolidation, Extension, and Modification Agreement) on refinances.
Request CEMA assignment from existing lender to save $8,000–$22,000+ in NY mortgage recording tax.
Need help?