30 Kane St · Lackawanna, NY 14218

$475,000

49 bd · None ba · 8,172 sqft · MultiFamily · 187 Days on market

Built 1926 Fair condition 8,062 sqft lot $58/sqft · at area comps Est $460k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +6.0/15.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 7 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Investor's Dream Deal in a Rapidly Growing Area! Opportunities like this don’t come around often — we couldn’t even find a comparable property in the area! This amazing 7-unit income property consists of two well-maintained buildings: Front Building: 5 units with a roof just 5 years old and numerous updates throughout. Rear Building: Solid full-brick structure with a 3-year-old metal roof, including metal roofing on both garages. Fully Tenanted Plenty of Storage Space Off-Street Parking Conveniently located just 2 minutes from the waterfront, and close to all amenities — shopping, public transportation, restaurants, and more. This is a rare, turnkey investment in one of the fastest-growing areas. Don’t miss out on this incredible opportunity!

Key facts

• 5 units with a roof
• Off street parking
• 8,062 sq ft lot

Tags

• 7 UNIT INCOME PROPERTY
• TWO WELL MAINTAINED BUILDINGS
• 5 UNITS WITH A ROOF
• 3 YEAR OLD METAL ROOF
• PLENTY OF STORAGE SPACE
• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 7 × 2-bed/1-bath units multifamily listed at $475k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $301/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $475k).
• Recommended offer: $418k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.6% 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-, schools D+, employment D+.
• 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.
• Market conditions: 92 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 $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $133k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 187 days — a 12% lower offer ($418k) 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 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $418,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 187 days. Have you received any prior offers? Is the seller open to a 12% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.44% ✓
• Cap rate: 11.62%
• Cash-on-cash: 19.03%
• DSCR: 1.85
• GRM: 5.8

CMA / ARV

• ARV (median comp): $460,000
• List price: $475,000
• Delta: 3.26%
• Verdict: FAIR
• Comps: 7 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.9%
• Equity multiple: 1.43×
• Total profit: $57,464
• Equity at exit: $70,824

10-year hold

• IRR: 20.0%
• Equity multiple: 2.68×
• Total profit: $223,431
• Equity at exit: $41,069

Cash invested: $133,000 (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: 40.6×

Monthly cashflow live

• Estimated rent: $6,825 medium
• Mortgage (P&I): −$2,491
• Tax est. 1.5%: −$594 /mo · $7,125/yr
• Insurance: −$198
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,433
• Net cashflow: $2,109

Break-even live

Break-even rent $4,155

Max offer price $475,000

Occupancy floor 64%

Sensitivity live

Price	-10% $2,437	-5% $2,273	+0% $2,109	+5% $1,945	+10% $1,781
Rent	-10% $1,570	-5% $1,840	+0% $2,109	+5% $2,379	+10% $2,648
Rate	-1.0pp $2,348	-0.5pp $2,230	base $2,109	+0.5pp $1,986	+1.0pp $1,861

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

Units	Beds	Baths	Est. rent
▸ 7× units	2	1	$6,825
Total (7 units)			$6,825

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-07
   status $475,000 Pending 187 DOM
2. 2026-06-05
   days on market $475,000 Active 187 DOM
3. 2026-06-03
   days on market $475,000 Active 186 DOM
4. 2026-06-02
   days on market $475,000 Active 185 DOM
5. 2026-06-01
   days on market $475,000 Active 184 DOM
6. 2026-05-31
   days on market $475,000 Active 183 DOM
7. 2026-03-12
   status Active 790-char remark

   Show marketing remark (790 chars)

   Investor's Dream Deal in a Rapidly Growing Area! Opportunities like this don’t come around often — we couldn’t even find a comparable property in the area! This amazing 7-unit income property consists of two well-maintained buildings: Front Building: 5 units with a roof just 5 years old and numerous updates throughout. Rear Building: Solid full-brick structure with a 3-year-old metal roof, including metal roofing on both garages. Fully Tenanted Plenty of Storage Space Off-Street Parking Conveniently located just 2 minutes from the waterfront, and close to all amenities — shopping, public transportation, restaurants, and more. This is a rare, turnkey investment in one of the fastest-growing areas. Don’t miss out on this incredible opportunity!

8. 2025-12-23
   status Pending 790-char remark

   Show marketing remark (790 chars)

   Investor's Dream Deal in a Rapidly Growing Area! Opportunities like this don’t come around often — we couldn’t even find a comparable property in the area! This amazing 7-unit income property consists of two well-maintained buildings: Front Building: 5 units with a roof just 5 years old and numerous updates throughout. Rear Building: Solid full-brick structure with a 3-year-old metal roof, including metal roofing on both garages. Fully Tenanted Plenty of Storage Space Off-Street Parking Conveniently located just 2 minutes from the waterfront, and close to all amenities — shopping, public transportation, restaurants, and more. This is a rare, turnkey investment in one of the fastest-growing areas. Don’t miss out on this incredible opportunity!

9. 2025-09-10
   listed $475,000 Active 790-char remark

   Show marketing remark (790 chars)

   Investor's Dream Deal in a Rapidly Growing Area! Opportunities like this don’t come around often — we couldn’t even find a comparable property in the area! This amazing 7-unit income property consists of two well-maintained buildings: Front Building: 5 units with a roof just 5 years old and numerous updates throughout. Rear Building: Solid full-brick structure with a 3-year-old metal roof, including metal roofing on both garages. Fully Tenanted Plenty of Storage Space Off-Street Parking Conveniently located just 2 minutes from the waterfront, and close to all amenities — shopping, public transportation, restaurants, and more. This is a rare, turnkey investment in one of the fastest-growing areas. Don’t miss out on this incredible opportunity!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $81,900
• − Mortgage interest: −$26,607
• − Property taxes: −$7,125
• − Insurance: −$2,375
• − Repairs & maintenance: −$6,552
• − Management: −$6,552
• − Depreciation: −$13,818
• Taxable income: $18,870
• Est. tax owed @ 24.0%: −$4,529
• After-tax cash flow: $20,781/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

Fair 45/100 Moderate rehab

This 7-unit multi-family property requires moderate repairs and maintenance to improve its curb appeal and overall condition, with potential for significant value increases through updates.

Repairs flagged

• Moderate Exterior siding — Siding shows signs of wear and discoloration.
• Minor Landscaping — Minimal landscaping, some overgrown areas visible.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and property value.
• Both Landscaping improvements — Improves curb appeal and enhances property value.
• Both Paint interior walls and trim — Enhances interior appearance and value.
• Both Replace worn exterior siding — Improves curb appeal and property value.
• Both Upgrade HVAC system — Improves comfort and energy efficiency, enhancing value.
• Both Update bathrooms and kitchens — Enhances functionality and value for both resale and rental.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Siding shows signs of wear and discoloration.	Moderate	$3,000–15,000
Landscaping · Minimal landscaping, some overgrown areas visible.	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and property value. ↑
• Both Landscaping improvements — Improves curb appeal and enhances property value. ↑
• Both Paint interior walls and trim — Enhances interior appearance and value. ↑
• Both Replace worn exterior siding — Improves curb appeal and property value. ↑
• Both Upgrade HVAC system — Improves comfort and energy efficiency, enhancing value. ↑
• Both Update bathrooms and kitchens — Enhances functionality and value for both resale and rental. ↑

ⓘ 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: 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

3 events — show timeline

• 2026-03-12 Relisted — WNYREIS
• 2025-12-23 Pending — WNYREIS
• 2025-09-10 Listed $475,000 WNYREIS