33 Keever Ave · Lackawanna, NY 14218

$159,900

4 bd · 2.0 ba · 2,268 sqft · MultiFamily public records · 8 Days on market

Built 1902 4,000 sqft lot Est $215k · 26% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• 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

Super large 2/2 family double in a great location tucked away, yet close to everything! Nice entry foyer. The Living Rooms & Dining rooms are spacious with archway & shelf dividers! Home has many updates last 7 yrs including; complete tear off roof, insulation, c-air (up) & updated kitchen with dshwhr. Most windows in upper unit. Some appliances stay. Walk up attic. Down has laundry/utility room. Yard is completely fenced with metal gazebo included. Parking for 3 cars. NEW Playground at the corner & walk to Bella Pizza, Apollo's & Fran-Ceils for dessert!

Key facts

• New vinyl railing
• Newer laminate floor
• 4,000 sq ft lot

Tags

• MAINTENANCE FREE EXTERIOR
• NEW CONCRETE DRIVEWAY
• PARTIALLY FENCED YARD
• REMODELING IN BATHROOMS
• NEW VINYL RAILING
• NEWER LAMINATE FLOOR

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $916 ($11k/yr) — positive. Per door: $458/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Cap rate 13.2% vs local median 5.4% in Lackawanna — 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 75/100 on livability (#254 in NY, #4,026 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime C-, employment D+, amenities F.
• Lackawanna City School District (suburban): math 19% / reading 29% proficiency, ranked #588 of 590 in NY (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Martin Road Elementary School (math 12% / reading 29%, grade F, #1,944 of 2,108 statewide, top 92%, 560 students, 86% FRL); Lackawanna Middle School (math 5% / reading 27%, grade F, #702 of 729 statewide, top 96%, 407 students, 80% FRL); Lackawanna High School (math 72%, 560 students, 71% FRL).
• Market conditions: 92 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 10y 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 $60k; list at $160k implies a 166% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.57% ✓
• Cap rate: 13.17%
• Cash-on-cash: 24.55%
• DSCR: 2.09
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $215,460
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
33 Keever Ave	0.00mi	4/2.0	2,268 (0%)	1mo	$145,000	$64	99
77 Roland Ave	0.11mi	4/2.0	2,211 (-2%)	20mo	$105,000	$47	74
145 Roland Ave	0.17mi	5/2.0 (+1)	2,064 (-9%)	5mo	$210,000	$102	68
188 Milnor Ave	0.25mi	4/3.0	1,990 (-12%)	9mo	$195,000	$98	56
20 Modern Ave	0.32mi	5/2.5 (+1)	2,072 (-9%)	12mo	$145,000	$70	54
127 Orchard Ave	0.70mi	4/3.0	2,071 (-9%)	10mo	$145,000	$70	40
1612 Electric Ave	0.39mi	4/3.5	2,520 (+11%)	22mo	$240,000	$95	39
60 Orchard Ave	0.75mi	4/3.0	2,052 (-10%)	23mo	$220,000	$107	26

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: 17.9%
• Equity multiple: 1.72×
• Total profit: $32,439
• Equity at exit: $23,842

10-year hold

• IRR: 26.3%
• Equity multiple: 3.31×
• Total profit: $103,418
• Equity at exit: $13,825

Cash invested: $44,772 (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 14218

• Home prices YoY: -9.2%
• Active inventory: 92
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,507 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$159 /mo · $1,913/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$526
• Net cashflow: $916

Break-even live

Break-even rent $1,348

Max offer price $159,900

Occupancy floor 58%

Sensitivity live

Price	-10% $1,006	-5% $961	+0% $916	+5% $871	+10% $825
Rent	-10% $718	-5% $817	+0% $916	+5% $1,015	+10% $1,114
Rate	-1.0pp $996	-0.5pp $957	base $916	+0.5pp $875	+1.0pp $832

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,506
Total (2 units)			$2,507

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3365 McKinley Pkwy Buffalo, NY	3.0	1.0	2016	$2,200	$1.09	4d	1	1.49mi

Listing history 17 events

1. 2026-03-06
   status Pending
2. 2026-02-25
   listed $159,900 Active
3. 2026-01-24
   status Pending
4. 2026-01-18
   historical
5. 2026-01-17
   status Active
6. 2026-01-16
   status Pending
7. 2025-12-09
   price $159,900
8. 2025-11-19
   price $164,900
9. 2025-10-31
   listed $169,900 Active
10. 2017-01-20
    soldstatus $60,000 Closed Sale or Rented 590-char remark

    Show marketing remark (590 chars)

    Super large 2/2 family double in a great location tucked away, yet close to everything! Nice entry foyer. The Living Rooms & Dining rooms are spacious with archway & shelf dividers! Home has many updates last 7 yrs including; complete tear off roof, insulation, c-air (up) & updated kitchen with dshwhr. Most windows in upper unit. Some appliances stay. Walk up attic. Down has laundry/utility room. Yard is completely fenced with metal gazebo included. Parking for 3 cars. NEW Playground at the corner & walk to Bella Pizza, Apollo's & Fran-Ceils for dessert!

11. 2017-01-20
    soldstatus $60,000

    Show marketing remark (590 chars)

    Super large 2/2 family double in a great location tucked away, yet close to everything! Nice entry foyer. The Living Rooms & Dining rooms are spacious with archway & shelf dividers! Home has many updates last 7 yrs including; complete tear off roof, insulation, c-air (up) & updated kitchen with dshwhr. Most windows in upper unit. Some appliances stay. Walk up attic. Down has laundry/utility room. Yard is completely fenced with metal gazebo included. Parking for 3 cars. NEW Playground at the corner & walk to Bella Pizza, Apollo's & Fran-Ceils for dessert!

12. 2016-12-08
    status Pending Sale 590-char remark

    Show marketing remark (590 chars)

    Super large 2/2 family double in a great location tucked away, yet close to everything! Nice entry foyer. The Living Rooms & Dining rooms are spacious with archway & shelf dividers! Home has many updates last 7 yrs including; complete tear off roof, insulation, c-air (up) & updated kitchen with dshwhr. Most windows in upper unit. Some appliances stay. Walk up attic. Down has laundry/utility room. Yard is completely fenced with metal gazebo included. Parking for 3 cars. NEW Playground at the corner & walk to Bella Pizza, Apollo's & Fran-Ceils for dessert!

13. 2016-10-27
    historical Under Contract- Do Not Show 590-char remark

    Show marketing remark (590 chars)

    Super large 2/2 family double in a great location tucked away, yet close to everything! Nice entry foyer. The Living Rooms & Dining rooms are spacious with archway & shelf dividers! Home has many updates last 7 yrs including; complete tear off roof, insulation, c-air (up) & updated kitchen with dshwhr. Most windows in upper unit. Some appliances stay. Walk up attic. Down has laundry/utility room. Yard is completely fenced with metal gazebo included. Parking for 3 cars. NEW Playground at the corner & walk to Bella Pizza, Apollo's & Fran-Ceils for dessert!

14. 2016-09-21
    listed $64,900 Active 590-char remark

    Show marketing remark (590 chars)

    Super large 2/2 family double in a great location tucked away, yet close to everything! Nice entry foyer. The Living Rooms & Dining rooms are spacious with archway & shelf dividers! Home has many updates last 7 yrs including; complete tear off roof, insulation, c-air (up) & updated kitchen with dshwhr. Most windows in upper unit. Some appliances stay. Walk up attic. Down has laundry/utility room. Yard is completely fenced with metal gazebo included. Parking for 3 cars. NEW Playground at the corner & walk to Bella Pizza, Apollo's & Fran-Ceils for dessert!

15. 2009-01-23
    soldstatus $42,500
16. 2005-05-26
    soldstatus $30,600
17. 1995-05-16
    soldstatus $45,000

ⓘ 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: $1,913 · $159/mo
• Projected year-2 tax: $2,308 · $192/mo
• Expected delta: +$395/yr (+$33/mo · 20.6%)

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

Climate risk First Street

• 🌊 Flood 2/10 Low FEMA zone X (unshaded) · 3% 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: $30,084
• − Mortgage interest: −$8,957
• − Property taxes: −$1,913
• − Insurance: −$800
• − Repairs & maintenance: −$2,407
• − Management: −$2,407
• − Depreciation: −$4,652
• Taxable income: $8,949
• Est. tax owed @ 24.0%: −$2,148
• After-tax cash flow: $8,843/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: Lackawanna City School District
• NCES district ID: 3616440
• Math proficiency: 19% ▼ -10.00%
• Reading proficiency: 29% ▲ 3.00%
• Median HH income: $35,041
• Composite: 19.76/100
• National rank: #8708
• State rank: #588 of 590 in NY

Livability — Lackawanna

• Score: 75/100
• State rank: #254
• US rank: #4026

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lackawanna, NY
• City population: 20,661
• Population (ZIP): 20,661

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 (73%)
• Race & ethnicity: White 73% Black 13% Hispanic / Latino 10% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 8%
• Common ancestry: Romanian 18% Lithuanian 2% Slovak 1%
• Foreign-born: 7% · Canada
• Languages at home: 80% English-only · Arabic 11% Spanish 6% Russian/Polish/Slavic 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: ▼ -39.44%
• Current HPI: 389.0188
• 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

+255.3% since first listed

17 events — show timeline

• 2026-03-06 Pending — WNYREIS
• 2026-02-25 Listed $159,900 WNYREIS
• 2026-01-24 Pending — WNYREIS
• 2026-01-18 Listing Removed — WNYREIS
• 2026-01-17 Relisted — WNYREIS
• 2026-01-16 Pending — WNYREIS
• 2025-12-09 Price Changed $159,900 WNYREIS
• 2025-11-19 Price Changed $164,900 WNYREIS
• 2025-10-31 Listed $169,900 WNYREIS
• 2017-01-20 Sold (Public Records) $60,000 Public Records
• 2017-01-20 Sold (MLS) $60,000 WNYREIS
• 2016-12-08 Pending — WNYREIS
• 2016-10-27 Contingent — WNYREIS
• 2016-09-21 Listed $64,900 WNYREIS
• 2009-01-23 Sold (Public Records) $42,500 Public Records
• 2005-05-26 Sold (Public Records) $30,600 Public Records
• 1995-05-16 Sold (Public Records) $45,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $1,913 · +0.5% YoY. Source: county tax records.