222 Helen St · Cheektowaga, NY 14206

$145,000

5 bd · 2.0 ba · 1,103 sqft · MultiFamily public records · 6 Days on market

Built 1935 7,405 sqft lot

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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 +15.9/30.0
• Appreciation +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• DSCR +4.9/10.0
• Livability +4.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Welcome to 222 Helen! Currently zoned as a two-family home this 1 bedroom, 1 bath first floor unit also has a 2 bedroom, 1 bath second floor unit. Cash only sale due to the front foyer roof, garage roof and plumbing repair needed. This property is priced to sell! The main house roof is in good condition. Owned by the same family since it was built, the property is on a double lot measuring 60 x 122’ with a 2 car garage backing up to the entrance of Theodore Roosevelt Elementary. The spacious yard is fully fenced and the maple trees offer a park-like setting. The home’s exterior was updated with vinyl siding for low maintenance and most of the windows have been replaced. The interior features original woodwork, leaded glass windows, a large double living room (21x15’) with mantel and fireplace (NRTC). Completing the first floor is a formal dining room, bedroom and full bathroom plus spacious kitchen complete with oven and refrigerator. The second unit on the upper floor offers a front living room, two bedrooms, full bath and eat-in kitchen. Historically, the home has been used as a single family so there is only one heating unit, one gas meter and one HWT. Electric is still fuses and still separate meters. Laundry hookups are in the basement. Also listed as a single-family home MLS #B1690556 but would require a residential alteration permit and a fire code inspection to convert it. Contact town for further details. Lots of potential to make this home or a great investment property! Offers will be presented as they are received and showings start immediately.

Key facts

• 7,405 sq ft lot
• 2 garage spots
• Pool

Property features AI

Exterior

• Parking: Detached garage; Driveway; 2-car garage
• Utilities: Electricity connected (fuse panel); Public water connected; Sewer connected
• Home design: Single-story total listed; Resale property; Existing construction
• Construction: Shake siding; Vinyl siding; Wood siding; Asphalt shingle roof; Block foundation
• Exterior features: Deck; Above-ground pool; Fully fenced yard; Blacktop driveway; Corner lot; Near public transit; Rectangular lot; City street frontage

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: Bedroom on main level; One main level bedroom; Four additional bedrooms (located on second and first levels as listed)
• Flooring: Carpet; Hardwood; Laminate; Linoleum; Vinyl; Varies
• Bathrooms: Two full bathrooms; One bathroom on main level
• Heating & cooling: Geothermal heating; Forced air
• Interior features: Ceiling fan(s); Den; Separate/formal dining room; Entrance foyer; Separate/formal living room; Natural woodwork; Convertible bedroom; Leaded glass windows; Thermal windows; Full basement
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $145k.

Deal economics

• At list price, monthly cash flow is $69 ($824/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 6.9% 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-.
• Cheektowaga-Sloan Union Free School District (urban): math 33% / reading 38% proficiency, ranked #555 of 590 in NY (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Theodore Roosevelt School (328 students, 47% FRL); John F Kennedy Middle School (math 17% / reading 42%, grade F, #550 of 729 statewide, top 77%, 279 students, 54% FRL); John F Kennedy Senior High School (math 82% / reading 24%, grade C-, #934 of 1,100 statewide, top 86%, 370 students, 49% FRL).
• Market conditions: 170 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).
• This rent runs 42% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $13k of equity ($1k loan paydown + $12k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 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: property tax is 4.1% of price; built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,000

Questions for the listing agent

1. Built in 1935 — 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. 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.
6. 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.
7. 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: 1.21% ✓
• Cap rate: 6.86%
• Cash-on-cash: 2.03%
• DSCR: 1.09
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.7%
• Equity multiple: 2.60×
• Total profit: $64,868
• Equity at exit: $110,737

10-year hold

• IRR: 20.0%
• Equity multiple: 5.57×
• Total profit: $185,421
• Equity at exit: $220,363

Cash invested: $40,600 (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 14206

• Home prices YoY: 1.8%
• Active inventory: 170
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,751 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$494 /mo · $5,930/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $69

Break-even live

Break-even rent $1,664

Max offer price $145,000

Occupancy floor 91%

Sensitivity live

Price	-10% $151	-5% $110	+0% $69	+5% $28	+10% $-13
Rent	-10% $-70	-5% $0	+0% $69	+5% $138	+10% $207
Rate	-1.0pp $142	-0.5pp $106	base $69	+0.5pp $31	+1.0pp $-7

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 Rutland Ave Buffalo, NY	4.0	1.0	1430	$2,200	$1.54	12d	1	0.95mi

Listing history 5 events

1. 2026-06-21
   days on market $145,000 Active 6 DOM
2. 2026-06-18
   days on market $145,000 Active 3 DOM
3. 2026-06-17
   days on market $145,000 Active 2 DOM
4. 2026-06-15
   remarks 693-char remark

   Show marketing remark (1604 chars)

   Welcome to 222 Helen! Currently zoned as a two-family home this 1 bedroom, 1 bath first floor unit also has a 2 bedroom, 1 bath second floor unit. Cash only sale due to the front foyer roof, garage roof and plumbing repair needed. This property is priced to sell! The main house roof is in good condition. Owned by the same family since it was built, the property is on a double lot measuring 60 x 122’ with a 2 car garage backing up to the entrance of Theodore Roosevelt Elementary. The spacious yard is fully fenced and the maple trees offer a park-like setting. The home’s exterior was updated with vinyl siding for low maintenance and most of the windows have been replaced. The interior features original woodwork, leaded glass windows, a large double living room (21x15’) with mantel and fireplace (NRTC). Completing the first floor is a formal dining room, bedroom and full bathroom plus spacious kitchen complete with oven and refrigerator. The second unit on the upper floor offers a front living room, two bedrooms, full bath and eat-in kitchen. Historically, the home has been used as a single family so there is only one heating unit, one gas meter and one HWT. Electric is still fuses and still separate meters. Laundry hookups are in the basement. Also listed as a single-family home MLS #B1690556 but would require a residential alteration permit and a fire code inspection to convert it. Contact town for further details. Lots of potential to make this home or a great investment property! Offers will be presented as they are received and showings start immediately.

5. 2026-06-15
   listed $145,000 Active 1 DOM

   Show marketing remark (1604 chars)

   Welcome to 222 Helen! Currently zoned as a two-family home this 1 bedroom, 1 bath first floor unit also has a 2 bedroom, 1 bath second floor unit. Cash only sale due to the front foyer roof, garage roof and plumbing repair needed. This property is priced to sell! The main house roof is in good condition. Owned by the same family since it was built, the property is on a double lot measuring 60 x 122’ with a 2 car garage backing up to the entrance of Theodore Roosevelt Elementary. The spacious yard is fully fenced and the maple trees offer a park-like setting. The home’s exterior was updated with vinyl siding for low maintenance and most of the windows have been replaced. The interior features original woodwork, leaded glass windows, a large double living room (21x15’) with mantel and fireplace (NRTC). Completing the first floor is a formal dining room, bedroom and full bathroom plus spacious kitchen complete with oven and refrigerator. The second unit on the upper floor offers a front living room, two bedrooms, full bath and eat-in kitchen. Historically, the home has been used as a single family so there is only one heating unit, one gas meter and one HWT. Electric is still fuses and still separate meters. Laundry hookups are in the basement. Also listed as a single-family home MLS #B1690556 but would require a residential alteration permit and a fire code inspection to convert it. Contact town for further details. Lots of potential to make this home or a great investment property! Offers will be presented as they are received and showings start immediately.

ⓘ 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: $5,930 · $494/mo
• Projected year-2 tax: $5,930 · $494/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 ≥92°F today · 16 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: $21,018
• − Mortgage interest: −$8,122
• − Property taxes: −$5,930
• − Insurance: −$725
• − Repairs & maintenance: −$1,681
• − Management: −$1,681
• − Depreciation: −$4,218
• Taxable loss: −$1,340
• Est. tax savings @ 24.0%: +$322
• After-tax cash flow: $1,146/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: Cheektowaga-Sloan Union Free School District
• NCES district ID: 3627000
• Math proficiency: 33% ▼ -16.00%
• Reading proficiency: 38% ▼ -6.00%
• Median HH income: $45,810
• Composite: 30.35/100
• National rank: #6263
• State rank: #555 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): 21,631
• Household income: $50,450
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 841.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 13% Black 12% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10%
• Common ancestry: Romanian 25% Lithuanian 1% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Arabic 2%

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: ▲ 8.06%
• Current HPI: 457.3935
• 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

2 events — show timeline

• 2026-06-15 Listed $145,000 WNYREIS
• 2026-06-15 Listed $145,000 WNYREIS

Property tax history

+9.5%/yr

Latest (2025): $5,930 · +1.3% YoY. Source: county tax records.