75 Theresa Dr · Cheektowaga, NY 14227

$298,000

5 bd · 2.0 ba · 1,956 sqft · MultiFamily public records · 5 Days on market

Built 1968 6,098 sqft lot $152/sqft · 41% below area Est $503k · 41% under

---

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
• 1% rule +4.5/10.0
• Schools +4.5/10.0
• Livability +4.2/5.0
• DSCR +4.1/10.0
• Rent growth +3.1/5.0
• 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

Opportunity is knocking! What a Great investment this 3/2 double is. Brick & Vinyl exterior & concrete driveway. Lg Living rooms, eat-in kitchens freshly painted upper unit. Full basement w/ separate laundry hook ups. Also, there is a storage section of the basement with a locking door, tenant paid extra for the use. Spacious yard that backs up to Kelly Park, and close to all shopping needs. DON’T MISS OUT CALL TODAY!

Key facts

• 6,098 sq ft lot
• 2 parking spots
• Built 1968

Tags

• BRICK AND VINYL EXTERIOR
• SPACIOUS CONCRETE DRIVEWAY
• INVITING EAT-IN KITCHENS
• GENEROUS LIVING ROOMS
• FRESHLY REMODELED BATHROOM
• UPDATED VINYL FLOORING

Property features AI

Finance

• Other: Two total units with separate gas and electric meters (2 each)
• Financial info: Owner pays water (water included in rent); Operating expenses include water/sewer (see remarks)

Exterior

• Parking: Concrete parking; Two or more parking spaces
• Utilities: Electricity connected with circuit breakers; Public water connected; Sewer connected
• Home design: Single-story building; Existing construction; Facing city street
• Construction: Brick and vinyl siding exterior; Asphalt roof; Poured foundation; Built (existing)
• Exterior features: Patio; Open porch

Interior

• Kitchen: Gas water heater
• Bedrooms: Two-unit property (total 2 units)
• Flooring: Hardwood; Luxury vinyl; Varies
• Bathrooms: 2 full bathrooms (total)
• Heating & cooling: Gas heating; Baseboard heating
• Interior features: Storage
• Laundry & utility: Washer hookup

🏷️ Possibly a rental listed for sale. The $298,000 price doesn't fit this home's estimated sale value (~$502,804) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $298k.

Deal economics

• At list price, monthly cash flow is $10 ($116/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 $282k (5.2% below list).
• Recommended offer: $282k (5.2% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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-.
• 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 (+2.5%/yr); 113 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,824/mo this rent would consume 49% of the median local household income ($69k/yr) (locally 721% 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 $9k of value loss. Plan a longer hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 9y 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 $114k; list at $298k implies a 161% gain — meaningful room to come down on a strong offer.

Recommended offer $282,400 (5.2% 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 1968 — 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: 0.95% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.14%
• DSCR: 1.01
• GRM: 8.8

CMA / ARV

• ARV (median comp): $502,804
• List price: $298,000
• Delta: -40.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
91 Theresa Dr	0.04mi	5/2.0	1,956 (0%)	12mo	$331,000	$169	88
11 E Cavalier Dr	0.24mi	5/2.0	1,956 (0%)	14mo	$315,000	$161	77
5 Saint Joan Ln	0.21mi	5/2.0	2,095 (+7%)	11mo	$295,000	$141	69
71 Fradine Dr	0.39mi	4/2.0 (-1)	2,072 (+6%)	12mo	$332,500	$160	57
25 Gaby Ln	0.31mi	6/2.0 (+1)	2,210 (+13%)	19mo	$350,000	$158	43
184 S Seine Dr	0.44mi	6/3.0 (+1)	2,155 (+10%)	13mo	$307,000	$142	43
236 N Seine Dr	0.65mi	5/2.0	2,184 (+12%)	10mo	$373,100	$171	42
536 French Rd	0.25mi	6/2.5 (+1)	2,239 (+14%)	20mo	$305,000	$136	40
47 Lille Ln	0.58mi	6/2.0 (+1)	2,212 (+13%)	11mo	$240,000	$108	37

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 · 2.54% rent growth · sell at horizon

5-year hold

• IRR: -16.6%
• Equity multiple: 0.41×
• Total profit: $-48,833
• Equity at exit: $44,433

10-year hold

• IRR: -9.2%
• Equity multiple: 0.44×
• Total profit: $-46,443
• Equity at exit: $25,766

Cash invested: $83,440 (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 14227

• Home prices YoY: -28.9%
• Rents YoY: 2.5%
• Active inventory: 113
• Price-to-rent: 17.6×

Monthly cashflow live

• Estimated rent: $2,824 medium
• Mortgage (P&I): −$1,563
• Tax from tax record: −$534 /mo · $6,413/yr
• Insurance: −$124
• HOA: −$0
• Vacancy / Maint / Mgmt: −$593
• Net cashflow: $10

Break-even live

Break-even rent $2,812

Max offer price $298,000

Occupancy floor 95%

Sensitivity live

Price	-10% $178	-5% $94	+0% $10	+5% $-75	+10% $-159
Rent	-10% $-213	-5% $-102	+0% $10	+5% $121	+10% $233
Rate	-1.0pp $160	-0.5pp $85	base $10	+0.5pp $-68	+1.0pp $-146

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,824
Total (2 units)			$2,824

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: $74,500
• Closing costs: $8,940
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-05-13
   listed $298,000 Active 890-char remark
2. 2026-04-05
   status Pending
3. 2026-04-05
   historical
4. 2026-03-20
   listed $298,000 Active
5. 2018-01-19
   soldstatus $114,000 Closed Sale or Rented

   Show marketing remark (441 chars)

   Opportunity is knocking! What a Great investment this 3/2 double is. Brick & Vinyl exterior & concrete driveway. Lg Living rooms, eat-in kitchens freshly painted upper unit. Full basement w/ separate laundry hook ups. Also, there is a storage section of the basement with a locking door, tenant paid extra for the use. Spacious yard that backs up to Kelly Park, and close to all shopping needs. DON’T MISS OUT CALL TODAY!

6. 2018-01-19
   soldstatus $114,000

   Show marketing remark (441 chars)

   Opportunity is knocking! What a Great investment this 3/2 double is. Brick & Vinyl exterior & concrete driveway. Lg Living rooms, eat-in kitchens freshly painted upper unit. Full basement w/ separate laundry hook ups. Also, there is a storage section of the basement with a locking door, tenant paid extra for the use. Spacious yard that backs up to Kelly Park, and close to all shopping needs. DON’T MISS OUT CALL TODAY!

7. 2017-11-28
   status Pending Sale

   Show marketing remark (441 chars)

   Opportunity is knocking! What a Great investment this 3/2 double is. Brick & Vinyl exterior & concrete driveway. Lg Living rooms, eat-in kitchens freshly painted upper unit. Full basement w/ separate laundry hook ups. Also, there is a storage section of the basement with a locking door, tenant paid extra for the use. Spacious yard that backs up to Kelly Park, and close to all shopping needs. DON’T MISS OUT CALL TODAY!

8. 2017-11-28
   status Under Contract- Do Not Show

   Show marketing remark (441 chars)

   Opportunity is knocking! What a Great investment this 3/2 double is. Brick & Vinyl exterior & concrete driveway. Lg Living rooms, eat-in kitchens freshly painted upper unit. Full basement w/ separate laundry hook ups. Also, there is a storage section of the basement with a locking door, tenant paid extra for the use. Spacious yard that backs up to Kelly Park, and close to all shopping needs. DON’T MISS OUT CALL TODAY!

9. 2017-11-07
   price $119,900

   Show marketing remark (441 chars)

   Opportunity is knocking! What a Great investment this 3/2 double is. Brick & Vinyl exterior & concrete driveway. Lg Living rooms, eat-in kitchens freshly painted upper unit. Full basement w/ separate laundry hook ups. Also, there is a storage section of the basement with a locking door, tenant paid extra for the use. Spacious yard that backs up to Kelly Park, and close to all shopping needs. DON’T MISS OUT CALL TODAY!

10. 2017-09-09
    price $135,900

    Show marketing remark (441 chars)

    Opportunity is knocking! What a Great investment this 3/2 double is. Brick & Vinyl exterior & concrete driveway. Lg Living rooms, eat-in kitchens freshly painted upper unit. Full basement w/ separate laundry hook ups. Also, there is a storage section of the basement with a locking door, tenant paid extra for the use. Spacious yard that backs up to Kelly Park, and close to all shopping needs. DON’T MISS OUT CALL TODAY!

11. 2017-08-28
    price $139,900

    Show marketing remark (441 chars)

    Opportunity is knocking! What a Great investment this 3/2 double is. Brick & Vinyl exterior & concrete driveway. Lg Living rooms, eat-in kitchens freshly painted upper unit. Full basement w/ separate laundry hook ups. Also, there is a storage section of the basement with a locking door, tenant paid extra for the use. Spacious yard that backs up to Kelly Park, and close to all shopping needs. DON’T MISS OUT CALL TODAY!

12. 2017-08-17
    listed $149,900 Active

    Show marketing remark (441 chars)

    Opportunity is knocking! What a Great investment this 3/2 double is. Brick & Vinyl exterior & concrete driveway. Lg Living rooms, eat-in kitchens freshly painted upper unit. Full basement w/ separate laundry hook ups. Also, there is a storage section of the basement with a locking door, tenant paid extra for the use. Spacious yard that backs up to Kelly Park, and close to all shopping needs. DON’T MISS OUT CALL TODAY!

13. 2004-02-25
    soldstatus $91,000

ⓘ 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: $6,413 · $534/mo
• Projected year-2 tax: $6,413 · $534/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: $33,888
• − Mortgage interest: −$16,693
• − Property taxes: −$6,413
• − Insurance: −$1,490
• − Repairs & maintenance: −$2,711
• − Management: −$2,711
• − Depreciation: −$8,669
• Taxable loss: −$4,798
• Est. tax savings @ 24.0%: +$1,152
• After-tax cash flow: $1,268/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 — 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): 20,621
• Household income: $68,928
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 721.0

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 (81%)
• Race & ethnicity: White 81% Black 8% Hispanic / Latino 6% Two or more races 3% Asian 3%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 31% Lithuanian 1% Slovak 1%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Spanish 3% Other Indo-European 2% 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: ▼ -124.77%
• Current HPI: 306.8358
• Rent YoY: ▲ 2.54%
• 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

+227.5% since first listed

14 events — show timeline

• 2026-05-19 Pending — WNYREIS
• 2026-05-13 Listed $298,000 WNYREIS
• 2026-04-05 Pending — WNYREIS
• 2026-04-05 Listing Removed — WNYREIS
• 2026-03-20 Listed $298,000 WNYREIS
• 2018-01-19 Sold (Public Records) $114,000 Public Records
• 2018-01-19 Sold (MLS) $114,000 WNYREIS
• 2017-11-28 Pending — WNYREIS
• 2017-11-28 Pending — WNYREIS
• 2017-11-07 Price Changed $119,900 WNYREIS
• 2017-09-09 Price Changed $135,900 WNYREIS
• 2017-08-28 Price Changed $139,900 WNYREIS
• 2017-08-17 Listed $149,900 WNYREIS
• 2004-02-25 Sold (Public Records) $91,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $6,413 · +3.5% YoY. Source: county tax records.