5893 Lakeview Ter · Wanakah, NY 14085

$174,900

3 bd · 1.0 ba · 1,012 sqft · SingleFamily public records · 6 Days on market

Built 1957 9,000 sqft lot Est $213k · 18% under

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Why this score? — see what drove the C 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 +19.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +5.6/10.0
• Schools +4.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Free home warranty included. Located near the lake! Open floor plan. Freshly painted throughout. Kitchen features updated oak cabinets, ceramic backsplash, lovely side addition to kitchen area is "sun filled" provided by sliding patio doors that go onto large deck. Attractive laminate flooring in living room. Yard is fenced in, electric pet fencing too! Vinyl - slided!

Key facts

• Private backyard
• Large two car garage
• Scenic views

Tags

• COMPOSITE DECK
• PRIVATE BACKYARD
• NEWLY BLACKTOPPED DRIVEWAY
• LARGE TWO CAR GARAGE
• SHORT WALK TO LAKE ERIE
• SCENIC VIEWS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $209 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Cap rate 7.7% vs local median 3.1% in Wanakah — 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 69/100 on livability (#508 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B+; Watch: amenities F, commute F, health & safety F.
• Frontier Central School District (suburban): math 54% / reading 55% proficiency, ranked #301 of 590 in NY (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Pinehurst Elementary School (math 58% / reading 56%, grade C+, #842 of 2,108 statewide, top 43%, 583 students, 14% FRL); Frontier Middle School (math 38% / reading 53%, grade D+, #337 of 729 statewide, top 47%, 1,071 students, 34% FRL); Frontier Senior High School (math 97% / reading 95%, grade A+, #68 of 1,100 statewide, top 6%, 1,352 students, 31% FRL).
• Market conditions: 49 active listings in the ZIP; 1 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $87k; list at $175k implies a 101% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $174,900

Questions for the listing agent

1. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.06% ✓
• Cap rate: 7.73%
• Cash-on-cash: 5.13%
• DSCR: 1.23
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $212,520
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5893 Lakeview Ter	0.00mi	3/1.0	1,012 (0%)	1mo	$195,000	$193	99
5829 Lakeview Ter	0.13mi	2/1.0 (-1)	1,050 (+4%)	4mo	$180,000	$171	80
5928 Elmhurst Rd	0.18mi	3/1.0	960 (-5%)	12mo	$242,000	$252	73
5944 Lakeview	0.11mi	3/1.0	1,152 (+14%)	1mo	$200,000	$174	71
5742 Lakeview Ter	0.28mi	3/1.0	1,106 (+9%)	6mo	$227,000	$205	66
6099 Dover Rd	0.46mi	3/1.0	960 (-5%)	10mo	$271,500	$283	62
5919 Dover Rd	0.12mi	2/1.0 (-1)	1,096 (+8%)	18mo	$230,000	$210	61
5815 Elmhurst Rd	0.20mi	3/1.0	1,080 (+7%)	23mo	$125,000	$116	60
6078 Versailles Rd	0.51mi	3/1.0	1,100 (+9%)	12mo	$240,000	$218	52
2158 Ganymede Ln	0.57mi	3/2.0	1,040 (+3%)	22mo	$226,500	$218	46
5835 West Ln	0.37mi	2/2.0 (-1)	1,129 (+12%)	15mo	$249,900	$221	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.3%
• Equity multiple: 0.69×
• Total profit: $-14,944
• Equity at exit: $26,078

10-year hold

• IRR: 1.3%
• Equity multiple: 1.09×
• Total profit: $4,389
• Equity at exit: $15,122

Cash invested: $48,972 (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 14085

• Home prices YoY: -18.0%
• Active inventory: 49
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,850 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$262 /mo · $3,143/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $209

Break-even live

Break-even rent $1,585

Max offer price $174,900

Occupancy floor 84%

Sensitivity live

Price	-10% $308	-5% $259	+0% $209	+5% $160	+10% $110
Rent	-10% $63	-5% $136	+0% $209	+5% $283	+10% $356
Rate	-1.0pp $298	-0.5pp $254	base $209	+0.5pp $164	+1.0pp $118

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5836 East Ln Lake View, NY	3.0	2.0	1300	$1,850	$1.42	45d	1	0.37mi

Listing history 5 events

1. 2026-03-25
   status Pending
2. 2026-03-19
   listed $174,900 Active
3. 2011-11-23
   soldstatus $86,900 381-char remark

   Show marketing remark (381 chars)

   Free home warranty included. Located near the lake! Open floor plan. Freshly painted throughout. Kitchen features updated oak cabinets, ceramic backsplash, lovely side addition to kitchen area is "sun filled" provided by sliding patio doors that go onto large deck. Attractive laminate flooring in living room. Yard is fenced in, electric pet fencing too! Vinyl - slided!

4. 2011-11-23
   soldstatus $86,900

   Show marketing remark (381 chars)

   Free home warranty included. Located near the lake! Open floor plan. Freshly painted throughout. Kitchen features updated oak cabinets, ceramic backsplash, lovely side addition to kitchen area is "sun filled" provided by sliding patio doors that go onto large deck. Attractive laminate flooring in living room. Yard is fenced in, electric pet fencing too! Vinyl - slided!

5. 2011-03-22
   listed $89,900 381-char remark

   Show marketing remark (381 chars)

   Free home warranty included. Located near the lake! Open floor plan. Freshly painted throughout. Kitchen features updated oak cabinets, ceramic backsplash, lovely side addition to kitchen area is "sun filled" provided by sliding patio doors that go onto large deck. Attractive laminate flooring in living room. Yard is fenced in, electric pet fencing too! Vinyl - slided!

ⓘ 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: $3,143 · $262/mo
• Projected year-2 tax: $3,143 · $262/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,200
• − Mortgage interest: −$9,797
• − Property taxes: −$3,143
• − Insurance: −$874
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − Depreciation: −$5,088
• Taxable loss: −$255
• Est. tax savings @ 24.0%: +$61
• After-tax cash flow: $2,575/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: Frontier Central School District
• NCES district ID: 3611670
• Math proficiency: 54% ▼ -16.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $58,807
• Composite: 47.36/100
• National rank: #2291
• State rank: #301 of 590 in NY

Livability — Wanakah

• Score: 69/100
• State rank: #508
• US rank: #8972

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,439

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 (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Romanian 28% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 98% English-only · Spanish 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: ▼ -72.78%
• Current HPI: 331.7429
• Rent YoY: —
• Metro: —
• 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

+94.5% since first listed

5 events — show timeline

• 2026-03-25 Pending — WNYREIS
• 2026-03-19 Listed $174,900 WNYREIS
• 2011-11-23 Sold (Public Records) $86,900 Public Records
• 2011-11-23 Sold (MLS) $86,900 WNYREIS
• 2011-03-22 Listed $89,900 WNYREIS

Property tax history

+6.2%/yr

Latest (2025): $3,143 · +0.5% YoY. Source: county tax records.