83 Sable Palm Dr · Depew, NY 14225

$279,000

4 bd · 2.0 ba · 2,008 sqft · MultiFamily public records · 24 Days on market

Built 1960 5,227 sqft lot $139/sqft · 46% below area Est $520k · 46% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.5/30.0
• Schools +5.9/10.0
• 1% rule +4.9/10.0
• DSCR +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

BEST VALUE Low Maintenance Double: All Brick, NEWer - Roof (2009), NEW Furnaces (2017), NEW Hot Water Tanks (2017, 2012) and Vinyl Windows(2007); Full basement with laundry hookups; 2/2 bedroom with eat-in kitchen and ample size Bedrooms and Living Room. Call NOW!!AA!

Key facts

• Many updates
• Excellent location
• 5,227 sq ft lot

Tags

• BRICK TWO FAMILY HOME
• MANY UPDATES
• EXCELLENT LOCATION
• EASY ACCESS TO AIRPORT
• EASY ACCESS TO GALLERIA MALL
• EASY ACCESS TO HIGHWAYS

Property features AI

Finance

• Financial info: Property is a 2-unit multi-family with separate gas and electric meters for each unit; Owner pays water; water included in rent; Operating expenses include insurance and water; Unit rents listed: one unit at $1,250, the other at $950

Exterior

• Parking: Paved parking with two or more spaces
• Utilities: Public water connected; Sewer connected; Circuit breaker electrical
• Home design: 2-story building; Existing construction; City street frontage; Residential lot, rectangular (approx. 45 x 120)
• Construction: Brick construction; Asphalt roof; Poured foundation; Copper plumbing; Insulated attic/crawl hatchway(s)
• Exterior features: Patio; Private yard; See remarks

Interior

• Kitchen: Oven/Range; Refrigerator; Eat-in kitchen
• Bedrooms: Two 2-bedroom units
• Flooring: Carpet; Vinyl; Varies
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Has heating; Gas water heater
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $279k.

Deal economics

• At list price, monthly cash flow is $9 ($108/yr) — positive. Per door: $5/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 $275k (1.4% below list).
• Recommended offer: $275k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.3% vs local median 3.7% in Depew — 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 71/100 on livability (#408 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-, health & safety A-; Watch: crime F, amenities F, commute F.
• Cheektowaga-Maryvale Union Free School District (urban): math 67% / reading 73% proficiency, ranked #154 of 590 in NY (top 26%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Maryvale Primary School (596 students, 43% FRL); Maryvale Middle School (math 42% / reading 74%, grade B, #182 of 729 statewide, top 25%, 478 students, 50% FRL); Maryvale High School (math 98% / reading 87%, grade A+, #158 of 1,100 statewide, top 15%, 615 students, 52% FRL).
• Market conditions: 209 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,752/mo this rent would consume 49% of the median local household income ($67k/yr) (locally 991% 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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($275k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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 $130k; list at $279k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price.

Recommended offer $274,815 (1.5% 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 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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.
9. 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.
10. 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: 0.99% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.14%
• DSCR: 1.01
• GRM: 8.4

CMA / ARV

• ARV (median comp): $519,500
• List price: $279,000
• Delta: -46.29%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
230 Crandon Blvd Blvd	0.32mi	5/2.0 (+1)	1,911 (-5%)	5mo	$285,000	$149	68
54 Bay Ln	0.48mi	5/2.0 (+1)	1,957 (-2%)	24mo	$255,000	$130	49

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: -16.0%
• Equity multiple: 0.43×
• Total profit: $-44,448
• Equity at exit: $41,600

10-year hold

• IRR: -7.5%
• Equity multiple: 0.52×
• Total profit: $-37,203
• Equity at exit: $24,123

Cash invested: $78,120 (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: 209
• Price-to-rent: 16.9×

Monthly cashflow live

• Estimated rent: $2,752 medium
• Mortgage (P&I): −$1,463
• Tax from tax record: −$586 /mo · $7,028/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$578
• Net cashflow: $9

Break-even live

Break-even rent $2,741

Max offer price $279,000

Occupancy floor 95%

Sensitivity live

Price	-10% $167	-5% $88	+0% $9	+5% $-70	+10% $-149
Rent	-10% $-208	-5% $-100	+0% $9	+5% $118	+10% $226
Rate	-1.0pp $150	-0.5pp $80	base $9	+0.5pp $-63	+1.0pp $-137

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,752
Total (2 units)			$2,752

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-27
   listed $279,000 Active 363-char remark
2. 2018-04-03
   soldstatus $129,900 Closed Sale or Rented 268-char remark

   Show marketing remark (268 chars)

   BEST VALUE Low Maintenance Double: All Brick, NEWer - Roof (2009), NEW Furnaces (2017), NEW Hot Water Tanks (2017, 2012) and Vinyl Windows(2007); Full basement with laundry hookups; 2/2 bedroom with eat-in kitchen and ample size Bedrooms and Living Room. Call NOW!!AA!

3. 2018-03-23
   soldstatus $129,900
4. 2018-02-09
   status Pending Sale 268-char remark

   Show marketing remark (268 chars)

   BEST VALUE Low Maintenance Double: All Brick, NEWer - Roof (2009), NEW Furnaces (2017), NEW Hot Water Tanks (2017, 2012) and Vinyl Windows(2007); Full basement with laundry hookups; 2/2 bedroom with eat-in kitchen and ample size Bedrooms and Living Room. Call NOW!!AA!

5. 2018-02-01
   listed $129,900 Active 268-char remark

   Show marketing remark (268 chars)

   BEST VALUE Low Maintenance Double: All Brick, NEWer - Roof (2009), NEW Furnaces (2017), NEW Hot Water Tanks (2017, 2012) and Vinyl Windows(2007); Full basement with laundry hookups; 2/2 bedroom with eat-in kitchen and ample size Bedrooms and Living Room. Call NOW!!AA!

ⓘ 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: $7,028 · $586/mo
• Projected year-2 tax: $7,028 · $586/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 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: $33,024
• − Mortgage interest: −$15,628
• − Property taxes: −$7,028
• − Insurance: −$1,395
• − Repairs & maintenance: −$2,642
• − Management: −$2,642
• − Depreciation: −$8,116
• Taxable loss: −$4,428
• Est. tax savings @ 24.0%: +$1,063
• After-tax cash flow: $1,171/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-Maryvale Union Free School District
• NCES district ID: 3618600
• Math proficiency: 67% ▲ 11.00%
• Reading proficiency: 73% ▲ 23.00%
• Median HH income: $46,537
• Composite: 59.02/100
• National rank: #960
• State rank: #154 of 590 in NY

Livability — Depew

• Score: 71/100
• State rank: #408
• US rank: #7016

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Depew, NY
• County: Erie County · 714,559 people
• City population: 25,098
• 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

+114.8% since first listed

6 events — show timeline

• 2026-05-22 Pending — WNYREIS
• 2026-04-27 Listed $279,000 WNYREIS
• 2018-04-03 Sold (MLS) $129,900 WNYREIS
• 2018-03-23 Sold (Public Records) $129,900 Public Records
• 2018-02-09 Pending — WNYREIS
• 2018-02-01 Listed $129,900 WNYREIS

Property tax history

+4.5%/yr

Latest (2025): $7,028 · +2.0% YoY. Source: county tax records.