That happens to coincide with the historic peak in interest rates followed by many decades of the rates going in basically one direction - down. 

Built by civil war soldier and prominent businessman, Charles Brent, this historic mansion was converted into apartments 50 years ago.11 Units: 1-2bed/1bath, 5-1bed/1bath, 5-Studio What made you interested in investing in this type of deal?

Even as rates have risen, we're still in a historically low period.  

The problem is you can't go on historical rent and projections are tough these days also. 

Jacksonville's historical home price appreciation rate since 1991 is 4.3% per year on average.  

Occupancy has been good historically too.

This a safe historic-type neighborhood.

This made sense historically, but as the residential real estate industry has evolved would six months of inventory really feel balanced or a neutral market? 

I was pointing out that properties which are overvalued will end up at their historical appreciated values over time.

Entire neighborhoods are being re-populated and investors are actively working to make some headway against the historical decline.If you have history in the area or you know people from around Buffalo, you should have a leg up as long as you're careful.