1311 Walden Ave · Cheektowaga, NY 14211

$270,000

6 bd · 3.0 ba · 2,976 sqft · MultiFamily public records · 53 Days on market

Built 1925 6,534 sqft lot Est $420k · 36% under

---

Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.0/10.0
• Livability +4.2/5.0
• Schools +2.8/10.0
• 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: 4 units. confirmed

Listing remarks

Fully occupied 4-unit investment property located on Walden Ave in Cheektowaga. Property includes long-term tenants, with some renters in place for over 20 years, all currently on moth to month agreements, paying and expressing interest to remain. Ample off street parking and a detached 4-car garage offers additional income potential. The property is positioned near the Mall, all major highways, and within minutes of downtown Buffalo, providing convenient access to local amenities and transportation. Suitable opportunity for investors seeking stable, turn key, tenant-occupied units with optional value in garage rentals.

Key facts

• Off street parking
• Convenient access
• Long term tenants

Tags

• 4 UNIT INVESTMENT PROPERTY
• LONG TERM TENANTS
• OFF STREET PARKING
• DETACHED 4 CAR GARAGE
• CONVENIENT ACCESS

Property features AI

Finance

• Other: Owner pays snow removal, trash collection, and water; rent includes the same
• Financial info: Building has 4 total units; Separate meters: 4 gas meters, 5 electric meters; Operating expenses include maintenance, trash, and water; Some units rented; sample rents shown (examples include $850, $950, $600)

Exterior

• Parking: Attached or detached 4-car garage; Additional parking with two or more spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story multi-family residential building; Residential multi-use zoning; Existing (resale) property
• Construction: Vinyl siding and wood siding; Two stories
• Exterior features: Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Oven/range and refrigerator in each unit; Some units feature an eat-in kitchen
• Bedrooms: Four 2-bedroom units (each unit listed as 2 bedrooms)
• Flooring: Carpet; Luxury vinyl; Varies by unit
• Bathrooms: Four full bathrooms (one per unit)
• Heating & cooling: Gas heating; Baseboard heating; Forced air
• Interior features: Full basement; Varied flooring: carpet and luxury vinyl
• Laundry & utility: Gas water heater

🏷️ Possibly a rental listed for sale. The $270,000 price doesn't fit this home's estimated sale value (~$419,616) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $270k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $355/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $270k).
• Recommended offer: $262k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.6% 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 Central School District (urban): math 30% / reading 37% proficiency, ranked #564 of 590 in NY (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 172 active listings in the ZIP; lower-income renter base — watch delinquency; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $4,459/mo this rent would consume 147% of the median local household income ($36k/yr) (locally 1804% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $7k of equity ($2k loan paydown + $6k appreciation (2.0% local appreciation)).
• At projected returns (2.0% appreciation + 3.0% rent growth), your $76k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($262k) 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 $120k; list at $270k implies a 125% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $261,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.65% ✓
• Cap rate: 12.61%
• Cash-on-cash: 22.56%
• DSCR: 2.00
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $419,616
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
146 Straley Ave	0.36mi	7/3.0 (+1)	2,594 (-13%)	11mo	$365,000	$141	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.9%
• Equity multiple: 2.45×
• Total profit: $109,933
• Equity at exit: $107,214

10-year hold

• IRR: 28.5%
• Equity multiple: 4.73×
• Total profit: $282,063
• Equity at exit: $154,943

Cash invested: $75,600 (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 14211

• Home prices YoY: 0.6%
• Active inventory: 172
• Price-to-rent: 20.2×

Monthly cashflow live

• Estimated rent: $4,459 medium
• Mortgage (P&I): −$1,416
• Tax from tax record: −$573 /mo · $6,873/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$936
• Net cashflow: $1,421

Break-even live

Break-even rent $2,660

Max offer price $270,000

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,460
Total (4 units)			$4,459

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-06
   status Pending
2. 2026-05-06
   status Active
3. 2026-01-06
   status Pending
4. 2025-11-14
   listed $270,000 Active
5. 2020-12-30
   soldstatus $120,000
6. 1997-09-26
   soldstatus $99,500

ⓘ 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: $6,873 · $573/mo
• Projected year-2 tax: $6,873 · $573/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 2/10 Low 7 d/yr ≥93°F today · 14 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: $53,508
• − Mortgage interest: −$15,124
• − Property taxes: −$6,873
• − Insurance: −$1,350
• − Repairs & maintenance: −$4,281
• − Management: −$4,281
• − Depreciation: −$7,855
• Taxable income: $13,745
• Est. tax owed @ 24.0%: −$3,299
• After-tax cash flow: $13,759/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 Central School District
• NCES district ID: 3607230
• Math proficiency: 30% ▼ -7.00%
• Reading proficiency: 37% ▲ 1.00%
• Median HH income: $43,401
• Composite: 28.45/100
• National rank: #6753
• State rank: #564 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): 24,663
• Household income: $36,300
• Rent vs Own: 54.8% rent · 45.2% own
• Severe rent burden: 1804.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Black 59% Asian 20% Hispanic / Latino 9% White 9% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 4%
• Foreign-born: 17% · Canada, Philippines, Vietnam
• Languages at home: 74% English-only · Other Indo-European 14% Spanish 6% Other Asian/Pacific 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: ▲ 2.05%
• Current HPI: 357.6438
• 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

+171.4% since first listed

6 events — show timeline

• 2026-05-06 Pending — WNYREIS
• 2026-05-06 Relisted — WNYREIS
• 2026-01-06 Pending — WNYREIS
• 2025-11-14 Listed $270,000 WNYREIS
• 2020-12-30 Sold (Public Records) $120,000 Public Records
• 1997-09-26 Sold (Public Records) $99,500 Public Records

Property tax history

+8.1%/yr

Latest (2025): $6,873 · +15.7% YoY. Source: county tax records.