It's hard to say with the information provided. Are you from the Buffalo area? If not, be very careful of the investors who have come in for the purpose of flipping properties, Although it seems like a great deal, your home may have been significantly less a couple of years ago. Buffalo is a great city but it's poor. Don't expect to get anything close to NYC rental prices. Anything between $0-700 (regardless of the number of bedrooms) is pretty accurate for the entire city. Also, think about who you would like to rent to and if that neighborhood would appeal to them.