Is Buffalo a good place to invest (example included)

[Calvin Liang]

I recently visited Buffalo NY and am trying to figure out if its a good place to invest. Below is the number I came up with for one of the properties(It's listed a few months back and it's sold already, but there are other deals that look similar to this one).

The number looks great on paper(see attached image), but I have some concerns:

1. I am from the Bay area, Buffalo is definitely not as vibrant as any city in the Bay area.

2. I am looking at the neighborhood around Buffalo University, my niche is college students.

3. Buffalo has a decreasing population (http://worldpopulationreview.com/us-cities/buffalo...).

I would love to have some inputs from the experts here. Appreciate any feedbacks you can give me :)