24 Starcrest Dr · Cheektowaga, NY 14225

$164,900

3 bd · 1.0 ba · 1,092 sqft · SingleFamily public records · 8 Days on market

Built 1943 3,920 sqft lot $151/sqft · 13% below area Est $190k · 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 +13.5/15.0
• Cash flow +13.4/30.0
• 1% rule +5.2/10.0
• Livability +4.2/5.0
• DSCR +4.0/10.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

OPPORTUNITY to purchase an affordable & renovated 3 bedroom/1 bath house in a desirable Cheektowaga neighborhood. New roof, fresh paint, new carpet & flooring, full basement, new kitchen cabinets & appliances. Large garage with storage or workshop area, pretty 2nd floor landing & fenced backyard. Note: All showings through Showing Time. Proof of funds or pre-qualification letter required with all offers. Open house: Thursday, May 4: 5-6 pm.

Key facts

• 3,920 sq ft lot
• Garage
• Built 1943

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water connected; Sewer connected; Circuit breaker electric
• Home design: Two-story home; Existing construction
• Construction: Vinyl siding; Asphalt shingle roof; Block foundation
• Exterior features: Concrete driveway; Fully fenced yard; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Refrigerator
• Bedrooms: Two main-level bedrooms; Two second-level bedrooms
• Flooring: Carpet; Laminate; Varies
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Gas forced-air heating
• Interior features: Eat-in kitchen; Bedroom on main level; Partial basement with sump pump
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $2 ($26/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Cap rate 6.3% vs local median 3.8% in Cheektowaga — 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 84/100 on livability (#54 in NY, #811 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: crime C-.
• Cleveland Hill Union Free School District (urban): math 42% / reading 46% proficiency, ranked #468 of 590 in NY (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 207 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 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.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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 $135k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,900

Questions for the listing agent

1. Built in 1943 — 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. 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: 1.02% ✓
• Cap rate: 6.31%
• Cash-on-cash: 0.06%
• DSCR: 1.00
• GRM: 8.2

CMA / ARV

• ARV (median comp): $190,186
• List price: $164,900
• Delta: -13.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
120 Beale Ave	0.39mi	3/1.0	1,046 (-4%)	2mo	$245,000	$234	73
75 Seton Rd	0.50mi	3/1.0	1,134 (+4%)	1mo	$240,000	$212	70
148 Westland Pkwy	0.55mi	4/1.0 (+1)	1,092 (0%)	5mo	$201,000	$184	65
135 Mildred Dr	0.50mi	3/1.0	1,148 (+5%)	6mo	$165,000	$144	63
94 Danbury Dr	0.48mi	3/1.0	1,170 (+7%)	4mo	$230,000	$197	63
61 Andres Pl	0.52mi	3/1.0	1,156 (+6%)	6mo	$255,000	$221	61
24 Fernwood Pl	0.39mi	2/1.0 (-1)	1,208 (+11%)	2mo	$185,000	$153	57
155 Seton Rd	0.47mi	3/1.5	952 (-13%)	5mo	$250,000	$263	50
118 Midland Dr	0.60mi	3/1.0	1,232 (+13%)	1mo	$260,000	$211	50
84 Loretto Dr	0.56mi	3/1.0	935 (-14%)	0mo	$173,000	$185	50
10 W Melcourt Dr	0.73mi	4/2.0 (+1)	1,134 (+4%)	5mo	$217,000	$191	46
30 Toelsin Rd	0.70mi	2/1.0 (-1)	930 (-15%)	3mo	$180,000	$194	35

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: -16.1%
• Equity multiple: 0.43×
• Total profit: $-26,443
• Equity at exit: $24,587

10-year hold

• IRR: -7.6%
• Equity multiple: 0.52×
• Total profit: $-22,285
• Equity at exit: $14,258

Cash invested: $46,172 (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 14225

• Home prices YoY: -27.3%
• Active inventory: 207
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,678 high
• Mortgage (P&I): −$865
• Tax from tax record: −$390 /mo · $4,683/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $2

Break-even live

Break-even rent $1,676

Max offer price $164,900

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2935 Genesee St Unit Up Buffalo, NY	2.0	1.0	1400	$1,400	$1.00	10d	1	0.36mi
291 Fonda Dr Buffalo, NY	2.0	1.0	850	$1,400	$1.65	43d	1	0.69mi
11 Kaufman Dr Buffalo, NY	2.0	1.0	900	$1,500	$1.67	43d	1	0.87mi
103 Preston Rd Unit Lower Cheektowaga, NY	2.0	1.0	882	$1,300	$1.47	3d	1	0.96mi
419 Cherokee Dr Buffalo, NY	3.0	1.0	880	$1,800	$2.05	1d	1	1.00mi
44 Aurora Dr Buffalo, NY	3.0	1.0	1272	$3,300	$2.59	1d	1	1.09mi
50 Pine Ridge Ter Unit 3 Cheektowaga, NY	2.0	1.0	900	$1,400	$1.56	17d	1	1.20mi
143 Reo Ave Buffalo, NY	3.0	2.0	1143	$1,600	$1.40	11d	1	1.33mi
455-495 Wehrle Dr Cheektowaga, NY	2.0	1.0	1012	$1,450	$1.43	1d	1	1.49mi

Listing history 8 events

1. 2026-05-08
   status Pending 654-char remark
2. 2026-04-30
   listed $164,900 Active 654-char remark
3. 2023-06-30
   soldstatus $149,900
4. 2023-06-16
   soldstatus $149,900 Closed Sale or Rented 468-char remark

   Show marketing remark (468 chars)

   OPPORTUNITY to purchase an affordable & renovated 3 bedroom/1 bath house in a desirable Cheektowaga neighborhood. New roof, fresh paint, new carpet & flooring, full basement, new kitchen cabinets & appliances. Large garage with storage or workshop area, pretty 2nd floor landing & fenced backyard. Note: All showings through Showing Time. Proof of funds or pre-qualification letter required with all offers. Open house: Thursday, May 4: 5-6 pm.

5. 2023-05-04
   status Pending Sale 468-char remark

   Show marketing remark (468 chars)

   OPPORTUNITY to purchase an affordable & renovated 3 bedroom/1 bath house in a desirable Cheektowaga neighborhood. New roof, fresh paint, new carpet & flooring, full basement, new kitchen cabinets & appliances. Large garage with storage or workshop area, pretty 2nd floor landing & fenced backyard. Note: All showings through Showing Time. Proof of funds or pre-qualification letter required with all offers. Open house: Thursday, May 4: 5-6 pm.

6. 2023-05-01
   price $149,900 468-char remark

   Show marketing remark (468 chars)

   OPPORTUNITY to purchase an affordable & renovated 3 bedroom/1 bath house in a desirable Cheektowaga neighborhood. New roof, fresh paint, new carpet & flooring, full basement, new kitchen cabinets & appliances. Large garage with storage or workshop area, pretty 2nd floor landing & fenced backyard. Note: All showings through Showing Time. Proof of funds or pre-qualification letter required with all offers. Open house: Thursday, May 4: 5-6 pm.

7. 2023-04-05
   price $159,900 468-char remark

   Show marketing remark (468 chars)

   OPPORTUNITY to purchase an affordable & renovated 3 bedroom/1 bath house in a desirable Cheektowaga neighborhood. New roof, fresh paint, new carpet & flooring, full basement, new kitchen cabinets & appliances. Large garage with storage or workshop area, pretty 2nd floor landing & fenced backyard. Note: All showings through Showing Time. Proof of funds or pre-qualification letter required with all offers. Open house: Thursday, May 4: 5-6 pm.

8. 2023-03-08
   listed $164,900 Active 468-char remark

   Show marketing remark (468 chars)

   OPPORTUNITY to purchase an affordable & renovated 3 bedroom/1 bath house in a desirable Cheektowaga neighborhood. New roof, fresh paint, new carpet & flooring, full basement, new kitchen cabinets & appliances. Large garage with storage or workshop area, pretty 2nd floor landing & fenced backyard. Note: All showings through Showing Time. Proof of funds or pre-qualification letter required with all offers. Open house: Thursday, May 4: 5-6 pm.

ⓘ 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: $4,683 · $390/mo
• Projected year-2 tax: $4,683 · $390/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°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: $20,140
• − Mortgage interest: −$9,237
• − Property taxes: −$4,683
• − Insurance: −$824
• − Repairs & maintenance: −$1,611
• − Management: −$1,611
• − Depreciation: −$4,797
• Taxable loss: −$2,624
• Est. tax savings @ 24.0%: +$630
• After-tax cash flow: $656/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: Cleveland Hill Union Free School District
• NCES district ID: 3607680
• Math proficiency: 42% ▼ -15.00%
• Reading proficiency: 46% ▼ -9.00%
• Median HH income: $50,785
• Composite: 37.87/100
• National rank: #4323
• State rank: #468 of 590 in NY

Livability — Cheektowaga

• Score: 84/100
• State rank: #54
• US rank: #811

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cheektowaga, NY
• County: Erie County · 714,559 people
• City population: 55,470
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 33,620
• Household income: $67,237
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 991.0

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 (74%)
• Race & ethnicity: White 74% Black 13% Two or more races 7% Hispanic / Latino 4% Asian 3%
• Common ancestry: Romanian 21% Lithuanian 3% Iranian 1%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 92% English-only · Other Indo-European 2% Spanish 2% 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: ▼ -120.26%
• Current HPI: 320.6248
• Rent YoY: —
• 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

+0.0% since first listed

9 events — show timeline

• 2026-05-08 Pending — WNYREIS
• 2026-04-30 Listed $164,900 WNYREIS
• 2026-04-10 Sold (Public Records) $135,000 Public Records
• 2023-06-30 Sold (Public Records) $149,900 Public Records
• 2023-06-16 Sold (MLS) $149,900 WNYREIS
• 2023-05-04 Pending — WNYREIS
• 2023-05-01 Price Changed $149,900 WNYREIS
• 2023-04-05 Price Changed $159,900 WNYREIS
• 2023-03-08 Listed $164,900 WNYREIS

Property tax history

+8.2%/yr

Latest (2025): $4,683 · +2.1% YoY. Source: county tax records.