74 Eiseman Ave · Tonawanda Town, NY 14217

$285,000

4 bd · 2.0 ba · 2,100 sqft · MultiFamily public records · 10 Days on market

Built 1928 4,320 sqft lot Est $317k · 10% under

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Why this score? — see what drove the D+ 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 +14.2/30.0
• ARV discount +12.1/15.0
• Rent growth +4.9/5.0
• 1% rule +4.8/10.0
• DSCR +4.3/10.0
• Schools +3.9/10.0
• Livability +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

This move in ready 2/2 double with curb appeal has been meticulously maintained! Beautiful hardwood floors throughout both units, walk up attic, basement has a semi finished room and dedicated laundry area. 2 car detached garage, central air in BOTH units! Upper unit has a covered 19X7 porch, dining room, artificial fireplace. Owners unit has a fireplace gas insert, expanded living room, dining room, & cedar closet! Back yard has a patio area and garden. Wont last at this price!

Key facts

• Separate utilities
• Updated bathrooms
• Covered front patio

Tags

• TWO FAMILY HOME
• SEPARATE UTILITIES
• HARDWOOD FLOORS
• UPDATED BATHROOMS
• ABUNDANT NATURAL LIGHT
• COVERED FRONT PATIO

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $285k.

Deal economics

• At list price, monthly cash flow is $46 ($549/yr) — positive. Per door: $23/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 $280k (1.6% below list).
• Recommended offer: $280k (1.6% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.1% in Tonawanda Town — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Kenmore-Tonawanda Union Free School District (suburban): math 44% / reading 47% proficiency, ranked #453 of 590 in NY (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Herbert Hoover Elementary School (math 37% / reading 52%, grade F, #1,277 of 2,108 statewide, top 64%, 565 students, 43% FRL); Herbert Hoover Middle School (math 24% / reading 39%, grade F, #522 of 729 statewide, top 73%, 758 students, 51% FRL); Kenmore West Senior High School (math 74% / reading 57%, grade B, #773 of 1,100 statewide, top 70%, 1,358 students, 51% FRL) — zoned schools average 48% FRL vs 33% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+9.8%/yr); 102 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,805/mo this rent would consume 46% of the median local household income ($74k/yr) (locally 727% 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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $170k; list at $285k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $280,500 (1.6% 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 1928 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.98% ✗
• Cap rate: 6.49%
• Cash-on-cash: 0.69%
• DSCR: 1.03
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $317,100
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
87 Tulane Rd	0.09mi	4/2.0	2,178 (+4%)	3mo	$250,000	$115	88
87 Eiseman Ave	0.04mi	4/2.0	2,012 (-4%)	5mo	$133,000	$66	87
175 W Girard Blvd	0.23mi	4/2.0	2,002 (-5%)	7mo	$265,000	$132	75
92 Tremont Ave	0.52mi	4/2.0	2,160 (+3%)	5mo	$240,000	$111	67
186 Pullman Ave	0.60mi	4/2.0	2,014 (-4%)	5mo	$328,000	$163	62
165 Tremont Ave	0.51mi	4/2.0	1,896 (-10%)	1mo	$331,000	$175	59
310 Kinsey Ave	0.59mi	5/2.0 (+1)	2,122 (+1%)	8mo	$320,000	$151	59
79 Lincoln Blvd	0.71mi	4/2.0	1,968 (-6%)	2mo	$260,000	$132	54
371 Hamilton Blvd	0.64mi	4/2.0	1,968 (-6%)	8mo	$300,000	$152	54
86 Pullman Ave	0.40mi	4/2.0	1,792 (-15%)	6mo	$315,000	$176	52
247 School St	0.73mi	5/2.0 (+1)	2,112 (+1%)	10mo	$244,900	$116	52
137 Delaware Rd	0.59mi	5/2.0 (+1)	2,288 (+9%)	11mo	$355,000	$155	43

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -9.2%
• Equity multiple: 0.65×
• Total profit: $-28,279
• Equity at exit: $42,494

10-year hold

• IRR: 6.4%
• Equity multiple: 1.59×
• Total profit: $47,270
• Equity at exit: $24,642

Cash invested: $79,800 (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 14217

• Home prices YoY: -34.3%
• Rents YoY: 9.8%
• Active inventory: 102
• Price-to-rent: 16.9×

Monthly cashflow live

• Estimated rent: $2,805 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$557 /mo · $6,683/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$589
• Net cashflow: $46

Break-even live

Break-even rent $2,747

Max offer price $285,000

Occupancy floor 93%

Sensitivity live

Price	-10% $207	-5% $126	+0% $46	+5% $-35	+10% $-116
Rent	-10% $-176	-5% $-65	+0% $46	+5% $157	+10% $267
Rate	-1.0pp $189	-0.5pp $118	base $46	+0.5pp $-28	+1.0pp $-103

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,806
Total (2 units)			$2,805

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
172 Tremont Ave Kenmore, NY	3.0	1.5	1569	$2,500	$1.59	12d	1	0.52mi
351 Stillwell Ave Buffalo, NY	3.0	1.0	2586	$1,800	$0.70	25d	1	1.04mi
2514 Delaware Ave Unit 1 Buffalo, NY	3.0	1.0	1620	$1,650	$1.02	3d	1	1.43mi

Listing history 7 events

1. 2026-02-26
   status Pending
2. 2026-02-16
   listed $285,000 Active
3. 2018-11-30
   soldstatus $170,000 Closed Sale or Rented 488-char remark

   Show marketing remark (488 chars)

   This move in ready 2/2 double with curb appeal has been meticulously maintained! Beautiful hardwood floors throughout both units, walk up attic, basement has a semi finished room and dedicated laundry area. 2 car detached garage, central air in BOTH units! Upper unit has a covered 19X7 porch, dining room, artificial fireplace. Owners unit has a fireplace gas insert, expanded living room, dining room, & cedar closet! Back yard has a patio area and garden. Wont last at this price!

4. 2018-11-30
   soldstatus $170,000

   Show marketing remark (488 chars)

   This move in ready 2/2 double with curb appeal has been meticulously maintained! Beautiful hardwood floors throughout both units, walk up attic, basement has a semi finished room and dedicated laundry area. 2 car detached garage, central air in BOTH units! Upper unit has a covered 19X7 porch, dining room, artificial fireplace. Owners unit has a fireplace gas insert, expanded living room, dining room, & cedar closet! Back yard has a patio area and garden. Wont last at this price!

5. 2018-10-05
   status Pending Sale 488-char remark

   Show marketing remark (488 chars)

   This move in ready 2/2 double with curb appeal has been meticulously maintained! Beautiful hardwood floors throughout both units, walk up attic, basement has a semi finished room and dedicated laundry area. 2 car detached garage, central air in BOTH units! Upper unit has a covered 19X7 porch, dining room, artificial fireplace. Owners unit has a fireplace gas insert, expanded living room, dining room, & cedar closet! Back yard has a patio area and garden. Wont last at this price!

6. 2018-09-25
   status Under Contract- Do Not Show 488-char remark

   Show marketing remark (488 chars)

   This move in ready 2/2 double with curb appeal has been meticulously maintained! Beautiful hardwood floors throughout both units, walk up attic, basement has a semi finished room and dedicated laundry area. 2 car detached garage, central air in BOTH units! Upper unit has a covered 19X7 porch, dining room, artificial fireplace. Owners unit has a fireplace gas insert, expanded living room, dining room, & cedar closet! Back yard has a patio area and garden. Wont last at this price!

7. 2018-09-17
   listed $165,000 Active 488-char remark

   Show marketing remark (488 chars)

   This move in ready 2/2 double with curb appeal has been meticulously maintained! Beautiful hardwood floors throughout both units, walk up attic, basement has a semi finished room and dedicated laundry area. 2 car detached garage, central air in BOTH units! Upper unit has a covered 19X7 porch, dining room, artificial fireplace. Owners unit has a fireplace gas insert, expanded living room, dining room, & cedar closet! Back yard has a patio area and garden. Wont last at this price!

ⓘ 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: $6,683 · $557/mo
• Projected year-2 tax: $6,683 · $557/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 · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,660
• − Mortgage interest: −$15,964
• − Property taxes: −$6,683
• − Insurance: −$1,425
• − Repairs & maintenance: −$2,693
• − Management: −$2,693
• − Depreciation: −$8,291
• Taxable loss: −$4,088
• Est. tax savings @ 24.0%: +$981
• After-tax cash flow: $1,530/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: Kenmore-Tonawanda Union Free School District
• NCES district ID: 3616230
• Math proficiency: 44% ▼ -12.00%
• Reading proficiency: 47% ▼ -1.00%
• Median HH income: $51,433
• Composite: 39.18/100
• National rank: #4024
• State rank: #453 of 590 in NY

Livability — Tonawanda Town

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Tonawanda Town, NY
• County: Erie County · 714,559 people
• City population: 63,948
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 22,471
• Household income: $73,800
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 727.0

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 (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 6% Black 5%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 13% Italian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 3% Arabic 1% 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: ▼ -172.52%
• Current HPI: 330.7596
• Rent YoY: ▲ 9.76%
• 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

+72.7% since first listed

7 events — show timeline

• 2026-02-26 Pending — WNYREIS
• 2026-02-16 Listed $285,000 WNYREIS
• 2018-11-30 Sold (Public Records) $170,000 Public Records
• 2018-11-30 Sold (MLS) $170,000 WNYREIS
• 2018-10-05 Pending — WNYREIS
• 2018-09-25 Pending — WNYREIS
• 2018-09-17 Listed $165,000 WNYREIS

Property tax history

+7.0%/yr

Latest (2025): $6,683 · +1.1% YoY. Source: county tax records.