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For a listing price of less than $40,000 you could own the current cheapest house for sale in Buffalo. The home, located at 228 May St, Buffalo, NY 14211, is listed at 39,900.  It is a 4 bedroom, 1 bathroom home that is 1,312 square foot. I found it on Zillow. It doesn't say that it's in foreclosures pre-foreclosure. Judging from the photos, it needs a bit of work to update it and make it more aesthetically pleasing and functional. There may be some structural issues or maybe there is a lien on it, which could be why it's listed so low. According to the Zillow listing,

The out-of-town long-term owner has priced it to have lots of room to make repairs, updates, and upgrades.

Some of the other features listed in the Zillow listing include:

- solid mechanics
- a large covered front entry
- a side porch
- a great back deck
- eat-in kitchen
- off-street parking
-current tenant, who wants to stay

The ad says the owner can't make the needed renovations, which is why they are selling,

The owners know it needs some work, but are not in a position to do it.

It's been on Zillow for 4 days. I can imagine that it will go quickly to someone who is an investor. If I had the money, I'd definitely look into buying it and keeping it as a rental. There's obviously no telling how much the improvements and work will cost, but for less than $40,000, it could be a cash cow. If you're interested, you can contact the listing agent, Ann Edwards of Keller Williams Realty Buffalo, at 716-832-3300. You can check out more pics of the house on Zillow.

Cheapest House for Sale in Buffalo

120 Lincoln Pkwy, Buffalo NY 14222