85 S Ellington Ave · Depew, NY 14043

$289,900

6 bd · 2.0 ba · 2,080 sqft · MultiFamily public records · 9 Days on market

Built 1967 6,970 sqft lot Est $262k · 11% over

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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 +20.8/30.0
• 1% rule +6.6/10.0
• DSCR +6.6/10.0
• Rent growth +3.9/5.0
• Schools +3.8/10.0
• Livability +3.6/5.0
• ARV discount +2.7/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Here’s your opportunity to make this well-maintained 3/3 double located in a quiet neighborhood your own. Nestled just off of Transit Road, this home offers convenient access to a wide range of amenities and is minutes away from Depew High School. This solid investment or owner-occupant opportunity features numerous updates within the past 10 years, including the roof, furnaces, hot water tank, and electrical, offering peace of mind for years to come. The lower unit has been lovingly owner/family occupied and showcases vinyl flooring, an updated kitchen, and an updated bathroom. Sliding glass doors lead to a fully fenced backyard complete with a paver patio, perfect for relaxing or en

Key facts

• Vinyl flooring
• Convenient access
• Updated kitchen

Tags

• QUIET NEIGHBORHOOD
• CONVENIENT ACCESS
• NUMEROUS UPDATES
• VINYL FLOORING
• UPDATED KITCHEN
• UPDATED BATHROOM

Property features AI

Finance

• Financial info: Owner pays trash collection and water; Rent listed for units: $1,170 and $600; Operating expenses: see remarks

Exterior

• Parking: Concrete parking with two or more spaces
• Utilities: Public water connected; Sewer connected; Circuit breaker electric
• Home design: 2-story multifamily building; Resale property
• Construction: Brick and vinyl siding exterior; Asphalt roof; Built (existing)
• Exterior features: Fully fenced yard; Patio

Interior

• Kitchen: Eat-in kitchens in both units; Oven/Range; Refrigerator
• Bedrooms: Two 3-bedroom units
• Flooring: Carpet; Luxury vinyl; Varied flooring throughout
• Bathrooms: Each unit with 1 full bathroom (2 full bathrooms total)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $290k.

Deal economics

• At list price, monthly cash flow is $399 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $290k).
• Cap rate 7.9% vs local median 3.7% in Depew — 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 71/100 on livability (#408 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-, health & safety A-; Watch: crime F, amenities F, commute F.
• Depew Union Free School District (suburban): math 39% / reading 50% proficiency, ranked #461 of 590 in NY (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.8%/yr); 124 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,374/mo this rent would consume 55% of the median local household income ($74k/yr) (locally 854% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $81k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.

Recommended offer $289,900

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.16% ✓
• Cap rate: 7.95%
• Cash-on-cash: 5.90%
• DSCR: 1.26
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $262,080
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
66 S Bellevue Ave	0.05mi	6/2.0	2,080 (0%)	3mo	$306,000	$147	95
72 S Bellevue Ave	0.04mi	6/2.0	2,080 (0%)	8mo	$141,000	$68	92
43 S Ellington Ave	0.09mi	6/2.0	2,080 (0%)	17mo	$301,000	$145	82
91 Bloomfield Ave	0.57mi	5/2.0 (-1)	2,300 (+11%)	7mo	$290,000	$126	45
700 Terrace Blvd	0.68mi	5/2.0 (-1)	2,156 (+4%)	21mo	$215,000	$100	40

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 · 5.75% rent growth · sell at horizon

5-year hold

• IRR: -3.7%
• Equity multiple: 0.86×
• Total profit: $-11,739
• Equity at exit: $43,225

10-year hold

• IRR: 9.2%
• Equity multiple: 1.80×
• Total profit: $65,036
• Equity at exit: $25,065

Cash invested: $81,172 (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 14043

• Home prices YoY: -34.2%
• Rents YoY: 5.8%
• Active inventory: 124
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $3,374 high
• Mortgage (P&I): −$1,520
• Tax from tax record: −$625 /mo · $7,501/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$709
• Net cashflow: $399

Break-even live

Break-even rent $2,869

Max offer price $289,900

Occupancy floor 83%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,374
Total (2 units)			$3,374

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-29
   status Pending
2. 2026-04-20
   listed $289,900 Active

ⓘ 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: $7,501 · $625/mo
• Projected year-2 tax: $7,501 · $625/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) · 17% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 15 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: $40,488
• − Mortgage interest: −$16,239
• − Property taxes: −$7,501
• − Insurance: −$1,450
• − Repairs & maintenance: −$3,239
• − Management: −$3,239
• − Depreciation: −$8,433
• Taxable income: $387
• Est. tax owed @ 24.0%: −$93
• After-tax cash flow: $4,699/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: Depew Union Free School District
• NCES district ID: 3609030
• Math proficiency: 39% ▼ -19.00%
• Reading proficiency: 50% ▼ -1.00%
• Median HH income: $51,488
• Composite: 38.33/100
• National rank: #4224
• State rank: #461 of 590 in NY

Livability — Depew

• Score: 71/100
• State rank: #408
• US rank: #7016

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Depew, NY
• County: Erie County · 714,559 people
• City population: 25,098
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 25,098
• Household income: $74,112
• Rent vs Own: 27.9% rent · 72.1% own
• Severe rent burden: 854.0

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 (91%)
• Race & ethnicity: White 91% Hispanic / Latino 3% Two or more races 3% Black 2% Asian 1%
• Common ancestry: Romanian 30% Lithuanian 2% Slovak 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 91% English-only · Arabic 3% Russian/Polish/Slavic 2% 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: ▼ -152.13%
• Current HPI: 292.1082
• Rent YoY: ▲ 5.75%
• 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

2 events — show timeline

• 2026-04-29 Pending — WNYREIS
• 2026-04-20 Listed $289,900 WNYREIS

Property tax history

+3.2%/yr

Latest (2025): $7,501 · +3.6% YoY. Source: county tax records.