367 Potters Rd #365 · West Seneca, NY 14220

$849,000

36 bd · None ba · 7,888 sqft · MultiFamily public records · 30 Days on market

Built 1955 0.44 ac lot $108/sqft · 90% above area

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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 +17.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Schools +4.5/10.0
• 1% rule +4.4/10.0
• Rent growth +4.4/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 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

365-369 Potters Rd West Seneca NY 14220. Rare 6 Unit Brick Apartment Building. Driveway hugging the 365 side leads to a large, paved area in the back great for light recreation including green space. Additionally, a large 6 car garage. One designated spot for each unit. The paved area leaves plenty of parking for additional vehicles. 365 consists of two 2/1 Units. 367, two 1/1 Units & 369 two 2/1 Units. All have full Basements. Separate utilities for all six units. Mechanics are all upgraded: including a new room on the main building and garage, all completed in the last two years. Gas hot water tanks and Gas furnaces. All six Units have central air conditioning as well. All six units

Key facts

• Large paved area
• Green space
• Large 6 car garage

Tags

• LARGE PAVED AREA
• GREEN SPACE
• LARGE 6 CAR GARAGE
• DESIGNATED SPOT FOR EACH UNIT
• UPGRADED MECHANICS
• CENTRAL AIR CONDITIONING

Property features AI

Finance

• Other: Multi-unit property with 6 total units; 6 separate gas meters; 7 separate electric meters
• Financial info: Operating expenses include insurance, maintenance, professional management, trash, and water/sewer; Owner pays grounds care, trash collection, and water; Rent includes common area maintenance, trash collection, and water

Exterior

• Parking: One parking space
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: 2-story multi-unit building; Brick construction; Asphalt architectural shingle roof; Existing/resale property
• Construction: Built as existing structure; Brick construction; Asphalt architectural shingle roof; Full basement foundation
• Exterior features: Blacktop driveway; Rectangular residential lot with city street frontage; Lot dimensions approximately 104 x 181

Interior

• Kitchen: Gas oven; Gas range; Dishwasher; Refrigerator
• Flooring: Hardwood; Luxury vinyl; Tile; Varies
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Full basement; Hardwood, luxury vinyl, tile, and varied flooring throughout
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 4×2bd/1ba + 2×1bd/1ba units multifamily listed at $849k.

Deal economics

• At list price, monthly cash flow is $667 ($8k/yr) — positive. Per door: $111/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $798k (6.0% below list).
• Recommended offer: $798k (6.0% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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: Rents rising fast (+7.6%/yr); 138 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $7,984/mo this rent would consume 135% of the median local household income ($71k/yr) (locally 602% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $25k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.6% rent growth), your $238k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($836k) 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.
• Current owner paid $420k; list at $849k implies a 102% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $798,400 (6.0% below list)

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 1955 — 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 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?
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: 0.94% ✗
• Cap rate: 7.24%
• Cash-on-cash: 3.37%
• DSCR: 1.15
• GRM: 8.9

CMA / ARV

• ARV (median comp): $446,384
• List price: $849,000
• Delta: 101.40%
• Verdict: OVERPRICED
• Comps: 6 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.62% rent growth · sell at horizon

5-year hold

• IRR: -6.1%
• Equity multiple: 0.76×
• Total profit: $-56,240
• Equity at exit: $126,589

10-year hold

• IRR: 8.3%
• Equity multiple: 1.76×
• Total profit: $181,061
• Equity at exit: $73,406

Cash invested: $237,720 (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 14220

• Home prices YoY: -26.7%
• Rents YoY: 7.6%
• Active inventory: 138
• Price-to-rent: 51.0×

Monthly cashflow live

• Estimated rent: $7,984 high
• Mortgage (P&I): −$4,452
• Tax from tax record: −$834 /mo · $10,007/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,677
• Net cashflow: $667

Break-even live

Break-even rent $7,139

Max offer price $849,000

Occupancy floor 87%

Sensitivity live

Price	-10% $1,148	-5% $908	+0% $667	+5% $427	+10% $187
Rent	-10% $37	-5% $352	+0% $667	+5% $983	+10% $1,298
Rate	-1.0pp $1,095	-0.5pp $883	base $667	+0.5pp $447	+1.0pp $224

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,556
▸ 2× units	1	1	$2,430
Total (6 units)			$7,984

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: $212,250
• Closing costs: $25,470
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $849,000 Active 30 DOM
2. 2026-06-18
   days on market $849,000 Active 27 DOM
3. 2026-06-17
   days on market $849,000 Active 26 DOM
4. 2026-06-16
   days on market $849,000 Active 25 DOM
5. 2026-06-15
   days on market $849,000 Active 24 DOM
6. 2026-06-13
   days on market $849,000 Active 22 DOM
7. 2026-06-10
   days on market $849,000 Active 19 DOM
8. 2026-06-09
   days on market $849,000 Active 18 DOM
9. 2026-06-08
   days on market $849,000 Active 17 DOM
10. 2026-06-07
    days on market $849,000 Active 16 DOM
11. 2026-06-03
    days on market $849,000 Active 12 DOM
12. 2026-06-02
    days on market $849,000 Active 11 DOM
13. 2026-06-01
    days on market $849,000 Active 10 DOM
14. 2026-05-31
    days on market $849,000 Active 9 DOM
15. 2026-05-05
    price $899,000 964-char remark
16. 2026-04-27
    price $919,000 964-char remark
17. 2026-04-08
    listed $949,000 Active 964-char remark
18. 2017-09-05
    soldstatus $420,000
19. 2008-05-23
    soldstatus $210,000

ⓘ 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: $10,007 · $834/mo
• Projected year-2 tax: $12,177 · $1,015/mo
• Expected delta: +$2,171/yr (+$181/mo · 21.7%)

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

Taxation est. · year 1

• Rental income: $95,808
• − Mortgage interest: −$47,557
• − Property taxes: −$10,007
• − Insurance: −$4,245
• − Repairs & maintenance: −$7,665
• − Management: −$7,665
• − Depreciation: −$24,698
• Taxable loss: −$6,028
• Est. tax savings @ 24.0%: +$1,447
• After-tax cash flow: $9,457/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: 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
• County: Erie County · 714,559 people
• City population: 41,101
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 24,428
• Household income: $70,963
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 602.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 6% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 10% Cuban 1%
• Common ancestry: Romanian 16% Lithuanian 1% Subsaharan African 1%
• Foreign-born: 4% · Canada, Jamaica, China
• Languages at home: 90% English-only · Spanish 4% Chinese 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: ▼ -146.29%
• Current HPI: 402.5053
• Rent YoY: ▲ 7.62%
• 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

+304.3% since first listed

7 events — show timeline

• 2026-05-22 Listed $849,000 WNYREIS
• 2026-05-22 Listing Removed — WNYREIS
• 2026-05-05 Price Changed $899,000 WNYREIS
• 2026-04-27 Price Changed $919,000 WNYREIS
• 2026-04-08 Listed $949,000 WNYREIS
• 2017-09-05 Sold (Public Records) $420,000 Public Records
• 2008-05-23 Sold (Public Records) $210,000 Public Records

Property tax history

+1.4%/yr

Latest (2025): $10,007 · -0.2% YoY. Source: county tax records.