5645 West Ln · Wanakah, NY 14085

$205,000

2 bd · 1.0 ba · 1,175 sqft · SingleFamily public records · 77 Days on market

Built 1945 5,886 sqft lot Est $235k · 13% under

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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).

• ARV discount +13.2/15.0
• Cash flow +13.1/30.0
• Schools +4.7/10.0
• 1% rule +4.0/10.0
• DSCR +3.9/10.0
• 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

Welcome to 5645 West Lane! 3 bedroom 1 bath cape with detached extended garage! Updated Bathroom with newer tub with tub surround and floor. Second Floor features large bedroom with walk in storage and room for a 2nd bath. Furnace 2012 with April Aire 2013. New sewer line from breather pipe to street(2022). Updated windows (2016) , Heating wires on back of the house (2016), New Chimney (2015/2016), 220 Line in Garage, Hardwood floors throughout first floor bedrooms and living room. All Appliances Included! Central Air Conditioning. Very established neighborhood located close to Lake Erie. Any/all offers due on Sunday July 9th at noon

Key facts

• New drywall
• Updated kitchen
• New lights

Tags

• UPDATED KITCHEN
• NEW TILE FLOOR
• NEW BACKSPLASH
• NEW DRYWALL
• NEW LIGHTS
• HARDWOOD FLOORS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $-6 ($-75/yr) — negative.
• To cash-flow at today's rent, offer at most $204k (0.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (9.8% below list).
• Recommended offer: $185k (9.8% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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.
• 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 $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $185,000 (9.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
3. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.90% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.13%
• DSCR: 0.99
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $235,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5645 West Ln	0.00mi	3/1.0 (+1)	1,175 (0%)	1mo	$235,000	$200	94
5679 Apollo Dr	0.12mi	3/2.0 (+1)	1,273 (+8%)	4mo	$270,000	$212	68
2285 Pleasant Ave	0.47mi	3/1.5 (+1)	1,184 (+1%)	11mo	$135,000	$114	60
5835 West Ln	0.35mi	2/2.0	1,129 (-4%)	15mo	$249,900	$221	60
5944 Lakeview	0.69mi	3/1.0 (+1)	1,152 (-2%)	1mo	$200,000	$174	59
5742 Lakeview Ter	0.49mi	3/1.0 (+1)	1,106 (-6%)	6mo	$227,000	$205	57
5757 Diana Ln	0.19mi	3/1.0 (+1)	1,344 (+14%)	6mo	$225,000	$167	57
5829 Lakeview Ter	0.50mi	2/1.0	1,050 (-11%)	4mo	$180,000	$171	56
5919 Dover Rd	0.65mi	2/1.0	1,096 (-7%)	18mo	$230,000	$210	44
5893 Lakeview Ter	0.58mi	3/1.0 (+1)	1,012 (-14%)	1mo	$195,000	$193	44
5786 Apollo Dr	0.36mi	3/2.0 (+1)	1,335 (+14%)	11mo	$270,000	$202	42
5862 Lakeview Ter	0.57mi	3/2.0 (+1)	1,312 (+12%)	4mo	$242,000	$184	41

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: -16.5%
• Equity multiple: 0.42×
• Total profit: $-33,558
• Equity at exit: $30,566

10-year hold

• IRR: -8.2%
• Equity multiple: 0.49×
• Total profit: $-29,493
• Equity at exit: $17,725

Cash invested: $57,400 (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: 9.2×

Monthly cashflow live

• Estimated rent: $1,850 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$307 /mo · $3,688/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $-6

Break-even live

Break-even rent $1,858

Max offer price $203,896

Occupancy floor 95%

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: $51,250
• Closing costs: $6,150
• 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	44d	1	0.32mi

Listing history 11 events

1. 2026-03-09
   status Pending
2. 2026-02-26
   status Active
3. 2026-02-26
   price $205,000
4. 2026-01-06
   status Pending
5. 2025-12-31
   status Active
6. 2025-11-17
   price $219,000
7. 2025-10-30
   listed $225,000 Active
8. 2023-09-19
   soldstatus $200,000 Closed Sale or Rented 641-char remark

   Show marketing remark (641 chars)

   Welcome to 5645 West Lane! 3 bedroom 1 bath cape with detached extended garage! Updated Bathroom with newer tub with tub surround and floor. Second Floor features large bedroom with walk in storage and room for a 2nd bath. Furnace 2012 with April Aire 2013. New sewer line from breather pipe to street(2022). Updated windows (2016) , Heating wires on back of the house (2016), New Chimney (2015/2016), 220 Line in Garage, Hardwood floors throughout first floor bedrooms and living room. All Appliances Included! Central Air Conditioning. Very established neighborhood located close to Lake Erie. Any/all offers due on Sunday July 9th at noon

9. 2023-09-14
   soldstatus $200,000
10. 2023-07-10
    status Under Contract- Do Not Show 641-char remark

    Show marketing remark (641 chars)

    Welcome to 5645 West Lane! 3 bedroom 1 bath cape with detached extended garage! Updated Bathroom with newer tub with tub surround and floor. Second Floor features large bedroom with walk in storage and room for a 2nd bath. Furnace 2012 with April Aire 2013. New sewer line from breather pipe to street(2022). Updated windows (2016) , Heating wires on back of the house (2016), New Chimney (2015/2016), 220 Line in Garage, Hardwood floors throughout first floor bedrooms and living room. All Appliances Included! Central Air Conditioning. Very established neighborhood located close to Lake Erie. Any/all offers due on Sunday July 9th at noon

11. 2023-06-21
    listed $179,900 Active 641-char remark

    Show marketing remark (641 chars)

    Welcome to 5645 West Lane! 3 bedroom 1 bath cape with detached extended garage! Updated Bathroom with newer tub with tub surround and floor. Second Floor features large bedroom with walk in storage and room for a 2nd bath. Furnace 2012 with April Aire 2013. New sewer line from breather pipe to street(2022). Updated windows (2016) , Heating wires on back of the house (2016), New Chimney (2015/2016), 220 Line in Garage, Hardwood floors throughout first floor bedrooms and living room. All Appliances Included! Central Air Conditioning. Very established neighborhood located close to Lake Erie. Any/all offers due on Sunday July 9th at noon

ⓘ 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: $3,688 · $307/mo
• Projected year-2 tax: $3,688 · $307/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 17 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: −$11,483
• − Property taxes: −$3,688
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − Depreciation: −$5,964
• Taxable loss: −$3,511
• Est. tax savings @ 24.0%: +$843
• After-tax cash flow: $768/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

+14.0% since first listed

11 events — show timeline

• 2026-03-09 Pending — WNYREIS
• 2026-02-26 Relisted — WNYREIS
• 2026-02-26 Price Changed $205,000 WNYREIS
• 2026-01-06 Pending — WNYREIS
• 2025-12-31 Relisted — WNYREIS
• 2025-11-17 Price Changed $219,000 WNYREIS
• 2025-10-30 Listed $225,000 WNYREIS
• 2023-09-19 Sold (MLS) $200,000 WNYREIS
• 2023-09-14 Sold (Public Records) $200,000 Public Records
• 2023-07-10 Pending — WNYREIS
• 2023-06-21 Listed $179,900 WNYREIS

Property tax history

+8.7%/yr

Latest (2025): $3,688 · +0.5% YoY. Source: county tax records.