3912 Seneca St #1 · West Seneca, NY 14224

$289,900

6 bd · 4.0 ba · 2,135 sqft · MultiFamily · 76 Days on market

Built 1930 Good condition 5,600 sqft lot $136/sqft · 41% below area Est $492k · 41% under ↓ 6% since listing

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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 +20.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +5.5/10.0
• Schools +4.5/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +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: 2 units. confirmed

Listing remarks MLS

This beautifully maintained and conveniently located duplex is the perfect property - whether you're looking to invest, live on-site, or let rental income help pay your mortgage! The lower unit is a recently remodeled 2-bedroom, 1-bath apartment featuring a spacious modern kitchen with granite countertops and a stylish center island-perfect for cooking or entertaining. The upper unit offers a comfortable 1-bedroom, 1-bath layout with a generous living area, a full kitchen, and a cozy eat-in dining space. Recent mechanical and structural updates include: Architectural roof, new ductwork and gas furnace (1st floor), High-efficiency boiler (2nd floor), Two upgraded electrical services, New glass block windows, Freshly paved driveway. This turnkey property is a smart investment with immediate income potential. Don't miss your chance to own this versatile and well-cared for duplex!

Key facts

• Remodeled apartment
• Full kitchen
• Generous living area

Tags

• REMODELED APARTMENT
• MODERN KITCHEN
• GRANITE COUNTERTOPS
• CENTER ISLAND
• GENEROUS LIVING AREA
• FULL KITCHEN

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $290k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $392 ($5k/yr) — positive. Per door: $196/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $290k).
• Recommended offer: $273k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 3.7% in West Seneca — 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 79/100 on livability (#130 in NY, #2,089 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A-; Watch: amenities D, commute F.
• West Seneca Central School District (suburban): math 49% / reading 55% proficiency, ranked #336 of 590 in NY (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 202 active listings in the ZIP; 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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $272,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.05% ✓
• Cap rate: 7.91%
• Cash-on-cash: 5.79%
• DSCR: 1.26
• GRM: 8.0

CMA / ARV

• ARV (median comp): $491,697
• List price: $289,900
• Delta: -41.04%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
194 Boncroft Dr	0.50mi	6/2.0	2,262 (+6%)	6mo	$344,000	$152	54
255 Main St	0.37mi	5/3.0 (-1)	2,396 (+12%)	11mo	$470,000	$196	44
796 Main St	0.72mi	5/2.0 (-1)	2,000 (-6%)	21mo	$275,000	$138	26
695 Center Rd	0.63mi	5/2.0 (-1)	1,904 (-11%)	22mo	$300,000	$158	21

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: -7.3%
• Equity multiple: 0.73×
• Total profit: $-21,974
• Equity at exit: $43,225

10-year hold

• IRR: 2.3%
• Equity multiple: 1.16×
• Total profit: $13,188
• 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 14224

• Active inventory: 202
• Price-to-rent: 15.9×

Monthly cashflow live

• Estimated rent: $3,032 high
• Mortgage (P&I): −$1,520
• Tax est. 1.5%: −$362 /mo · $4,348/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$637
• Net cashflow: $392

Break-even live

Break-even rent $2,536

Max offer price $289,900

Occupancy floor 82%

Sensitivity live

Price	-10% $592	-5% $492	+0% $392	+5% $292	+10% $192
Rent	-10% $152	-5% $272	+0% $392	+5% $512	+10% $631
Rate	-1.0pp $538	-0.5pp $466	base $392	+0.5pp $317	+1.0pp $240

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,032
Total (2 units)			$3,032

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 21 events

1. 2026-06-21
   days on market $289,900 Active 76 DOM
2. 2026-06-18
   days on market $289,900 Active 73 DOM
3. 2026-06-18
   price $289,900 Active 72 DOM
4. 2026-06-17
   days on market $294,900 Active 72 DOM
5. 2026-06-16
   days on market $294,900 Active 71 DOM
6. 2026-06-15
   days on market $294,900 Active 70 DOM
7. 2026-06-13
   days on market $294,900 Active 68 DOM
8. 2026-06-10
   days on market $294,900 Active 65 DOM
9. 2026-06-09
   days on market $294,900 Active 64 DOM
10. 2026-06-08
    days on market $294,900 Active 63 DOM
11. 2026-06-07
    days on market $294,900 Active 62 DOM
12. 2026-06-03
    days on market $294,900 Active 58 DOM
13. 2026-06-02
    days on market $294,900 Active 57 DOM
14. 2026-06-01
    days on market $294,900 Active 56 DOM
15. 2026-05-31
    days on market $294,900 Active 55 DOM
16. 2026-05-05
    price $299,890 889-char remark

    Show marketing remark (889 chars)

    This beautifully maintained and conveniently located duplex is the perfect property - whether you're looking to invest, live on-site, or let rental income help pay your mortgage! The lower unit is a recently remodeled 2-bedroom, 1-bath apartment featuring a spacious modern kitchen with granite countertops and a stylish center island-perfect for cooking or entertaining. The upper unit offers a comfortable 1-bedroom, 1-bath layout with a generous living area, a full kitchen, and a cozy eat-in dining space. Recent mechanical and structural updates include: Architectural roof, new ductwork and gas furnace (1st floor), High-efficiency boiler (2nd floor), Two upgraded electrical services, New glass block windows, Freshly paved driveway. This turnkey property is a smart investment with immediate income potential. Don't miss your chance to own this versatile and well-cared for duplex!

17. 2026-04-06
    listed $299,900 Active 889-char remark

    Show marketing remark (889 chars)

    This beautifully maintained and conveniently located duplex is the perfect property - whether you're looking to invest, live on-site, or let rental income help pay your mortgage! The lower unit is a recently remodeled 2-bedroom, 1-bath apartment featuring a spacious modern kitchen with granite countertops and a stylish center island-perfect for cooking or entertaining. The upper unit offers a comfortable 1-bedroom, 1-bath layout with a generous living area, a full kitchen, and a cozy eat-in dining space. Recent mechanical and structural updates include: Architectural roof, new ductwork and gas furnace (1st floor), High-efficiency boiler (2nd floor), Two upgraded electrical services, New glass block windows, Freshly paved driveway. This turnkey property is a smart investment with immediate income potential. Don't miss your chance to own this versatile and well-cared for duplex!

18. 2025-07-17
    historical
19. 2025-07-15
    historical Active Under Contract
20. 2025-06-17
    price $299,900
21. 2025-05-16
    listed $319,900 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,384
• − Mortgage interest: −$16,239
• − Property taxes: −$4,348
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,911
• − Management: −$2,911
• − Depreciation: −$8,433
• Taxable income: $92
• Est. tax owed @ 24.0%: −$22
• After-tax cash flow: $4,680/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.

Condition & rehab AI · 1 photo

Good 75/100 Cosmetic rehab

This well-maintained and recently updated duplex is ready for move-in and offers a good return on investment with minimal cosmetic improvements.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhanced curb appeal can attract more buyers and renters, increasing both resale and rental value.
• Both Painting exterior walls and trim — Fresh paint can make the home look more inviting and increase its value.
• Both Landscaping and garden beds — Well-maintained landscaping can improve the home's curb appeal and attract more potential buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhanced curb appeal can attract more buyers and renters, increasing both resale and rental value. ↑
• Both Painting exterior walls and trim — Fresh paint can make the home look more inviting and increase its value. ↑
• Both Landscaping and garden beds — Well-maintained landscaping can improve the home's curb appeal and attract more potential buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: West Seneca Central School District
• NCES district ID: 3630780
• Math proficiency: 49% ▼ -15.00%
• Reading proficiency: 55% ▼ -4.00%
• Median HH income: $54,231
• Composite: 44.83/100
• National rank: #2735
• State rank: #336 of 590 in NY

Livability — West Seneca

• Score: 79/100
• State rank: #130
• US rank: #2089

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Seneca, NY
• City population: 41,101
• Population (ZIP): 41,101

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 4% Two or more races 3% Black 2%
• Common ancestry: Romanian 22% Lithuanian 2% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 2% Russian/Polish/Slavic 1% Arabic 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: ▼ -211.03%
• Current HPI: 303.7523
• 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

-6.3% since first listed

6 events — show timeline

• 2026-05-05 Price Changed $299,890 WNYREIS
• 2026-04-06 Listed $299,900 WNYREIS
• 2025-07-17 Listing Removed — WNYREIS
• 2025-07-15 Contingent — WNYREIS
• 2025-06-17 Price Changed $299,900 WNYREIS
• 2025-05-16 Listed $319,900 WNYREIS