22 Cypress Rd · Cheektowaga, NY 14227

$115,000

2 bd · 1.0 ba · 1,650 sqft · Manufactured public records · 6 Days on market

Built 1988 Est $135k · 15% under

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +29.3/30.0
• ARV discount +14.3/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming 56 ft x 28 ft ranch-style home in Parkside Village, a quiet 55+ community. The inviting front porch welcomes you into this well-maintained 2-bedroom, 2-full-bath home. The bright eat-in kitchen features a cozy breakfast nook with wraparound windows and a skylight, filling the space with natural light. The kitchen offers a built-in oven/broiler, gas cooktop, dishwasher, and refrigerator. The spacious living and dining room combination showcases an open floor plan with cathedral ceilings, creating an airy and comfortable living space. The primary bedroom features a walk-in closet and an ensuite bath with a walk-in shower. The second bedroom is generously sized and con

Key facts

• Breakfast nook
• Wraparound windows
• Front porch

Tags

• FRONT PORCH
• EAT-IN KITCHEN
• BREAKFAST NOOK
• WRAPAROUND WINDOWS
• SKYLIGHT
• BUILT-IN OVEN

Property features AI

Finance

• Financial info: Monthly land lease payment
• HOA & community: Senior community; Land lease (monthly)

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water connected; Sewer connected
• Home design: Single-story home; Double-wide mobile home; Resale property; Private road frontage; Rectangular lot
• Construction: Vinyl siding; Asphalt roof; Crawl space foundation; Existing (previously built) structure
• Exterior features: Open patio and porch; Patio; Porch; Concrete driveway; Awnings; Shed(s) / exterior storage

Interior

• Kitchen: Built-in range; Built-in oven; Gas cooktop; Dishwasher; Refrigerator; Eat-in kitchen
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Vinyl; Varied flooring
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Forced air gas heating; Central air conditioning
• Interior features: Ceiling fans; Cathedral ceilings; Eat-in kitchen; Separate/formal living room; Combined living/dining area; Skylights; Main level primary bedroom; Primary bedroom with en-suite bath
• Laundry & utility: Washer and dryer on main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $115k.

Deal economics

• At list price, monthly cash flow is $405 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Cap rate 10.5% vs local median 3.8% in Cheektowaga — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 84/100 on livability (#54 in NY, #811 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: crime C-.
• Cheektowaga Central School District (urban): math 30% / reading 37% proficiency, ranked #564 of 590 in NY (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.5%/yr); 111 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.5% rent growth), your $32k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $115,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
4. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.29% ✓
• Cap rate: 10.52%
• Cash-on-cash: 15.08%
• DSCR: 1.67
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $135,300
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21 Juniper Ln	0.06mi	2/2.0	1,568 (-5%)	10mo	$130,000	$83	77
13 Juniper Ln	0.09mi	2/2.0	1,456 (-12%)	8mo	$119,900	$82	66
108 Parkside Cir	0.14mi	2/2.0	1,456 (-12%)	6mo	$120,000	$82	65
37 Juniper Ln	0.05mi	3/2.0 (+1)	1,456 (-12%)	9mo	$119,000	$82	62
4 Juniper Ln	0.10mi	2/2.0	1,500 (-9%)	17mo	$115,000	$77	62
9 Juniper Ln	0.11mi	2/2.0	1,456 (-12%)	14mo	$105,000	$72	60
66 Parkside Cir	0.08mi	3/2.0 (+1)	1,456 (-12%)	10mo	$123,000	$84	59
99 Parkside Cir	0.11mi	2/2.0	1,456 (-12%)	24mo	$75,000	$52	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.54% rent growth · sell at horizon

5-year hold

• IRR: 5.2%
• Equity multiple: 1.20×
• Total profit: $6,460
• Equity at exit: $17,147

10-year hold

• IRR: 14.2%
• Equity multiple: 2.12×
• Total profit: $36,056
• Equity at exit: $9,943

Cash invested: $32,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 14227

• Home prices YoY: -28.9%
• Rents YoY: 2.5%
• Active inventory: 111
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,488 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$120 /mo · $1,439/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $405

Break-even live

Break-even rent $976

Max offer price $115,000

Occupancy floor 68%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
236 Crabapple Ln Unit Right Buffalo, NY	3.0	1.5	1250	$1,800	$1.44	43d	1	0.37mi
50 Strasbourg Dr Unit Lower Cheektowaga, NY	3.0	1.0	1209	$1,700	$1.41	1d	1	1.06mi

Listing history 6 events

1. 2026-06-18
   days on market $115,000 Active 6 DOM
2. 2026-06-17
   days on market $115,000 Active 5 DOM
3. 2026-06-16
   days on market $115,000 Active 4 DOM
4. 2026-06-15
   days on market $115,000 Active 3 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $115,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $1,439 · $120/mo
• Projected year-2 tax: $1,691 · $141/mo
• Expected delta: +$252/yr (+$21/mo · 17.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,857
• − Mortgage interest: −$6,442
• − Property taxes: −$1,439
• − Insurance: −$575
• − Repairs & maintenance: −$1,429
• − Management: −$1,429
• − Depreciation: −$3,345
• Taxable income: $3,198
• Est. tax owed @ 24.0%: −$768
• After-tax cash flow: $4,088/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Cheektowaga Central School District
• NCES district ID: 3607230
• Math proficiency: 30% ▼ -7.00%
• Reading proficiency: 37% ▲ 1.00%
• Median HH income: $43,401
• Composite: 28.45/100
• National rank: #6753
• State rank: #564 of 590 in NY

Livability — Cheektowaga

• Score: 84/100
• State rank: #54
• US rank: #811

Category grades

Amenities B Commute A+ Cost of living A- Crime C- Employment C Housing A+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cheektowaga, NY
• County: Erie County · 714,559 people
• City population: 55,470
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 20,621
• Household income: $68,928
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 721.0

Population outlook (Erie County) Hauer SSP2

• Today (2025): 933,037 people
• By 2030: 935,181 · +0.2%
• By 2040: 928,531 · -0.5%
• By 2050: 905,725 · -2.9%
• By 2075: 834,037 · -10.6%
• By 2100: 708,033 · -24.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 8% Hispanic / Latino 6% Two or more races 3% Asian 3%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 31% Lithuanian 1% Slovak 1%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Spanish 3% Other Indo-European 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Erie

• 2024 margin: Lean D (+9.7) · D 54.8% · R 45.2%
• 2008→2024 swing: -7.9pp toward R · 2008: 17.5pp · 2024: 9.7pp
• All cycles: 2024: D+9.7 2020: D+14.7 2016: D+4.8 2012: D+15.6 2008: D+17.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -124.77%
• Current HPI: 306.8358
• Rent YoY: ▲ 2.54%
• Metro: Buffalo-Cheektowaga, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

1 event — show timeline

• 2026-06-12 Listed $115,000 WNYREIS

Property tax history

+8.7%/yr

Latest (2025): $1,439 · +17.9% YoY. Source: county tax records.