20 Calla Way · Cheektowaga, NY 14225

$69,900

2 bd · 1.0 ba · 1,904 sqft · Manufactured public records · 35 Days on market

Built 1990 8,712 sqft lot $37/sqft · 41% below area Est $119k · 41% 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
• Schools +5.2/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

You are welcomed with generous landscaped private lot with easy access handicap ramp. Ramp can be removed. The gourmet kitchen is extra large with fireplace and accenting French doors. The master bedroom suite has double walk in closet and glamour bath soaker tub and walk in shower. Full bath also for guest bedrooms. There is a separate laundry room. You will enjoy the private serene backyard with extra large shed. All appliances are included. This could be closed very fast with no sales tax. 2007 new Roof and hot water tank only 4 years old.

Key facts

• Walk-in closet
• Gourmet kitchen
• French doors

Tags

• GOURMET KITCHEN
• SKYLIGHTS
• FIREPLACE
• FRENCH DOORS
• WALK-IN CLOSET
• BATHTUB

Property features AI

Finance

• Financial info: Land lease amount applies
• HOA & community: Located in a senior community; Land lease

Exterior

• Parking: 2-car garage; Carport
• Utilities: High-speed internet available; Public water connected; Sewer connected; Electrical service with circuit breakers
• Home design: Double-wide mobile home (Commodore); Single-story; Existing/resale condition
• Construction: Vinyl siding
• Exterior features: Awning(s); Concrete driveway; Shed(s) / storage; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Free-standing range; Oven; Refrigerator; Eat-in kitchen
• Bedrooms: 3 bedrooms on the main level (sizes: 16 x 16, 12 x 12, 11 x 11)
• Flooring: Laminate; Vinyl; Varies
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Gas forced-air heating; Window air conditioning units
• Interior features: Cathedral ceilings; Skylights; Ceiling fans; Separate/formal dining room; Separate/formal living room; Eat-in kitchen; Kitchen/family room combo; Bedroom on main level; Primary suite with bath in primary bedroom; Main level primary
• Laundry & utility: Main level laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $70k.

Deal economics

• At list price, monthly cash flow is $811 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.2% 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-.
• Lancaster Central School District (suburban): math 57% / reading 61% proficiency, ranked #234 of 590 in NY (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 207 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 $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $67,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.40% ✓
• Cap rate: 20.22%
• Cash-on-cash: 49.75%
• DSCR: 3.21
• GRM: 3.5

CMA / ARV

• ARV (median comp): $119,242
• List price: $69,900
• Delta: -41.38%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14 Calla	0.03mi	3/2.0 (+1)	1,904 (0%)	20mo	$120,000	$63	73
52 Calla	0.06mi	3/2.0 (+1)	1,792 (-6%)	10mo	$114,000	$64	70

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: 47.4%
• Equity multiple: 3.06×
• Total profit: $40,397
• Equity at exit: $10,422

10-year hold

• IRR: 53.1%
• Equity multiple: 6.21×
• Total profit: $101,900
• Equity at exit: $6,044

Cash invested: $19,572 (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: 3.5×

Monthly cashflow live

• Estimated rent: $1,677 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$117 /mo · $1,408/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $811

Break-even live

Break-even rent $649

Max offer price $69,900

Occupancy floor 47%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6386 Transit Rd Depew, NY	1.0–2.0	1.0–2.0	1023	$2,397	$2.34	2d	62	0.26mi

Listing history 6 events

1. 2026-05-31
   status $69,900 Pending 35 DOM
2. 2026-05-09
   price $69,900 528-char remark
3. 2026-04-24
   listed $74,900 Active 528-char remark
4. 2016-08-08
   soldstatus $48,000 Closed Sale or Rented 548-char remark

   Show marketing remark (548 chars)

   You are welcomed with generous landscaped private lot with easy access handicap ramp. Ramp can be removed. The gourmet kitchen is extra large with fireplace and accenting French doors. The master bedroom suite has double walk in closet and glamour bath soaker tub and walk in shower. Full bath also for guest bedrooms. There is a separate laundry room. You will enjoy the private serene backyard with extra large shed. All appliances are included. This could be closed very fast with no sales tax. 2007 new Roof and hot water tank only 4 years old.

5. 2016-07-18
   status Pending Sale 548-char remark

   Show marketing remark (548 chars)

   You are welcomed with generous landscaped private lot with easy access handicap ramp. Ramp can be removed. The gourmet kitchen is extra large with fireplace and accenting French doors. The master bedroom suite has double walk in closet and glamour bath soaker tub and walk in shower. Full bath also for guest bedrooms. There is a separate laundry room. You will enjoy the private serene backyard with extra large shed. All appliances are included. This could be closed very fast with no sales tax. 2007 new Roof and hot water tank only 4 years old.

6. 2016-06-09
   listed $54,900 Active 548-char remark

   Show marketing remark (548 chars)

   You are welcomed with generous landscaped private lot with easy access handicap ramp. Ramp can be removed. The gourmet kitchen is extra large with fireplace and accenting French doors. The master bedroom suite has double walk in closet and glamour bath soaker tub and walk in shower. Full bath also for guest bedrooms. There is a separate laundry room. You will enjoy the private serene backyard with extra large shed. All appliances are included. This could be closed very fast with no sales tax. 2007 new Roof and hot water tank only 4 years old.

ⓘ 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: $1,408 · $117/mo
• Projected year-2 tax: $1,408 · $117/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 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: $20,118
• − Mortgage interest: −$3,915
• − Property taxes: −$1,408
• − Insurance: −$350
• − Repairs & maintenance: −$1,609
• − Management: −$1,609
• − Depreciation: −$2,033
• Taxable income: $9,193
• Est. tax owed @ 24.0%: −$2,206
• After-tax cash flow: $7,531/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: Lancaster Central School District
• NCES district ID: 3616680
• Math proficiency: 57% ▼ -13.00%
• Reading proficiency: 61% ▲ 2.00%
• Median HH income: $64,668
• Composite: 51.64/100
• National rank: #1700
• State rank: #234 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

+27.3% since first listed

6 events — show timeline

• 2026-05-31 Pending — WNYREIS
• 2026-05-09 Price Changed $69,900 WNYREIS
• 2026-04-24 Listed $74,900 WNYREIS
• 2016-08-08 Sold (MLS) $48,000 WNYREIS
• 2016-07-18 Pending — WNYREIS
• 2016-06-09 Listed $54,900 WNYREIS

Property tax history

-2.8%/yr

Latest (2025): $1,408 · +0.1% YoY. Source: county tax records.