701 Gardenwood Dr · South Lockport, NY 14094

$32,900

3 bd · 2.0 ba · 1,792 sqft · SingleFamily · 47 Days on market

Built 1990 5,000 sqft lot ↓ 27% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.9/10.0
• Rent growth +3.4/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful mobile! 3 bedroom, 2 full bath (master glamour bath). Living room WBFP, eat-in kit has plenty of storage, formal dining room, family room, first floor laundry pull-down stairs to attic storage area. Mechanics in GREAT shape. Private back yard backs up to woods. This "special order" ready to move into mobile has it all! 2011 updates: new roof (total tear-off), ceramic tile, kit floors & paint. 2012: new 95% furnace, skirting, ceiling fans & carpeting. Serial # - LPP2865A/B * * Model#-S-327 * * 1990 Heritage Park 64 X 28 * * white * *

Key facts

• Furnace replaced
• New skirting
• Central a/c

Tags

• DOUBLE-WIDE MOBILE HOME
• FULL ROOF TEAR-OFF
• FURNACE REPLACED
• NEW SKIRTING
• NEW INSULATION
• CENTRAL A/C

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $33k.

Deal economics

• At list price, monthly cash flow is $953 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $33k).
• Recommended offer: $32k (3.0% below list) — sets the bar for market timing.
• Cap rate 41.1% vs local median 1.5% in South Lockport — 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 66/100 on livability (#633 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: employment D+, schools F, crime F.
• Lockport City School District (town): math 44% / reading 49% proficiency, ranked #452 of 590 in NY (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.7%/yr); 357 active listings in the ZIP; solid renter incomes; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $227 of loan paydown is wiped out by about $987 of value loss. Plan a longer hold.
• Niagara County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $9k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $17k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $31,913 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 4.54% ✓
• Cap rate: 41.05%
• Cash-on-cash: 124.15%
• DSCR: 6.52
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $372,736
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6170 Old Beattie Rd	0.38mi	3/1.5	1,641 (-8%)	4mo	$249,900	$152	63
6571 Harvest Rdg	0.70mi	3/2.5	1,772 (-1%)	8mo	$350,000	$198	57
6530 Rebecca Rd	0.62mi	3/2.5	1,853 (+3%)	11mo	$470,000	$254	54
6529 Harvest Ridge Way	0.51mi	3/2.5	1,680 (-6%)	12mo	$405,000	$241	54
6513 Harvest Ridge Way	0.44mi	3/2.5	1,680 (-6%)	19mo	$350,000	$208	51
6213 Lakewood Ln	0.61mi	2/2.0 (-1)	1,935 (+8%)	6mo	$560,000	$289	48
6401 Cherrywood Ln	0.69mi	3/2.5	1,896 (+6%)	14mo	$317,000	$167	45
6344 Green Valley Ln	0.72mi	3/1.5	1,560 (-13%)	2mo	$323,000	$207	41
6421 Cherrywood Ln	0.73mi	4/2.5 (+1)	1,896 (+6%)	12mo	$410,000	$216	39
6543 Harvest Ridge Way	0.58mi	4/2.5 (+1)	2,016 (+12%)	22mo	$381,500	$189	27

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 · 3.67% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.12×
• Total profit: $56,406
• Equity at exit: $4,905

10-year hold

• IRR: —
• Equity multiple: 15.28×
• Total profit: $131,588
• Equity at exit: $2,845

Cash invested: $9,212 (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 14094

• Rents YoY: 3.7%
• Active inventory: 357
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,494 medium
• Mortgage (P&I): −$173
• Tax est. 1.5%: −$41 /mo · $494/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $953

Break-even live

Break-even rent $288

Max offer price $32,900

Occupancy floor 31%

Sensitivity live

Price	-10% $976	-5% $964	+0% $953	+5% $942	+10% $930
Rent	-10% $835	-5% $894	+0% $953	+5% $1,012	+10% $1,071
Rate	-1.0pp $970	-0.5pp $961	base $953	+0.5pp $945	+1.0pp $936

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: $8,225
• Closing costs: $987
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-03-16
   status Pending
2. 2026-03-08
   historical Active Under Contract
3. 2026-02-23
   price $32,900
4. 2026-01-28
   listed $49,900 Active
5. 2014-06-30
   soldstatus $44,500 578-char remark

   Show marketing remark (578 chars)

   Beautiful mobile! 3 bedroom, 2 full bath (master glamour bath). Living room WBFP, eat-in kit has plenty of storage, formal dining room, family room, first floor laundry pull-down stairs to attic storage area. Mechanics in GREAT shape. Private back yard backs up to woods. This "special order" ready to move into mobile has it all! 2011 updates: new roof (total tear-off), ceramic tile, kit floors & paint. 2012: new 95% furnace, skirting, ceiling fans & carpeting. Serial # - LPP2865A/B * * Model#-S-327 * * 1990 Heritage Park 64 X 28 * * white * *

6. 2014-01-06
   listed $44,900 578-char remark

   Show marketing remark (578 chars)

   Beautiful mobile! 3 bedroom, 2 full bath (master glamour bath). Living room WBFP, eat-in kit has plenty of storage, formal dining room, family room, first floor laundry pull-down stairs to attic storage area. Mechanics in GREAT shape. Private back yard backs up to woods. This "special order" ready to move into mobile has it all! 2011 updates: new roof (total tear-off), ceramic tile, kit floors & paint. 2012: new 95% furnace, skirting, ceiling fans & carpeting. Serial # - LPP2865A/B * * Model#-S-327 * * 1990 Heritage Park 64 X 28 * * white * *

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,930
• − Mortgage interest: −$1,843
• − Property taxes: −$494
• − Insurance: −$164
• − Repairs & maintenance: −$1,434
• − Management: −$1,434
• − Depreciation: −$957
• Taxable income: $11,604
• Est. tax owed @ 24.0%: −$2,785
• After-tax cash flow: $8,652/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: Lockport City School District
• NCES district ID: 3617670
• Math proficiency: 44% ▼ -7.00%
• Reading proficiency: 49% ▲ 3.00%
• Median HH income: $43,793
• Composite: 39.28/100
• National rank: #3997
• State rank: #452 of 590 in NY

Livability — South Lockport

• Score: 66/100
• State rank: #633
• US rank: #11642

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Lockport, NY
• County: Niagara County · 157,377 people
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 50,153
• Household income: $75,427
• Rent vs Own: 28.1% rent · 71.9% own
• Severe rent burden: 1112.0

Population outlook (Niagara County) Hauer SSP2

• Today (2025): 204,149 people
• By 2030: 197,900 · -3.1%
• By 2040: 182,239 · -10.7%
• By 2050: 165,198 · -19.1%
• By 2075: 129,416 · -36.6%
• By 2100: 96,222 · -52.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 6% Black 6% Hispanic / Latino 3%
• Common ancestry: Romanian 9% Slovak 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 1% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Niagara

• 2024 margin: R (+14.9) · D 42.5% · R 57.5%
• 2008→2024 swing: -15.9pp toward R · 2008: 1.0pp · 2024: -14.9pp
• All cycles: 2024: R+14.9 2020: R+9.7 2016: R+19.0 2012: D+0.6 2008: D+1.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -262.57%
• Current HPI: 303.6109
• Rent YoY: ▲ 3.67%
• 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

-26.7% since first listed

6 events — show timeline

• 2026-03-16 Pending — WNYREIS
• 2026-03-08 Contingent — WNYREIS
• 2026-02-23 Price Changed $32,900 WNYREIS
• 2026-01-28 Listed $49,900 WNYREIS
• 2014-06-30 Sold (MLS) $44,500 WNYREIS
• 2014-01-06 Listed $44,900 WNYREIS