46 Parkside Cir · Cheektowaga, NY 14227

$125,000

2 bd · 1.0 ba · 1,960 sqft · Manufactured public records · 42 Days on market

Built 1988

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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 +27.5/30.0
• DSCR +9.7/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Parkside Village, a 55+ community! This spacious modular home lives like a sprawling ranch and offers approximately 1,960 square feet of living space with 4 bedrooms and 2 full bathrooms. The home features a thoughtful split-bedroom layout with two bedrooms and a full bathroom on one side, while the primary suite with private bath and an additional bedroom are located on the opposite side for added privacy. The living room offers a generous layout with a vaulted ceiling and a cozy wood-burning fireplace, perfect for those chilly Buffalo evenings. Sliding glass doors lead from the living room to a concrete patio, and just beyond you’ll find a 3-season room, providing a great

Key facts

• Split-bedroom layout
• Private bath
• Concrete patio

Tags

• SPLIT-BEDROOM LAYOUT
• PRIVATE BATH
• WOOD-BURNING FIREPLACE
• CONCRETE PATIO
• 3-SEASON ROOM
• LAUNDRY AND UTILITY ROOM

Property features AI

Finance

• Financial info: Land lease amount $810
• HOA & community: Located in a senior community; Has a land lease (monthly)

Exterior

• Parking: Detached garage; Approximately 2.5 garage spaces
• Utilities: Public water (connected); Sewer connected
• Home design: Single-story home; Resale property; Wood siding
• Construction: Wood siding construction; Existing structure
• Exterior features: Concrete driveway; Located on a cul-de-sac; Rectangular residential lot; City street frontage

Interior

• Kitchen: Double oven; Gas cooktop; Refrigerator
• Bedrooms: 4 main-level bedrooms
• Flooring: Carpet; Laminate; Varied flooring
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Gas forced-air heating
• Interior features: Kitchen island; Main level primary suite; Workshop
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $371 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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 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: Rents rising (+2.5%/yr); 111 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.5% rent growth), your $35k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.

Recommended offer $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.23% ✓
• Cap rate: 9.85%
• Cash-on-cash: 12.72%
• DSCR: 1.57
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.54% rent growth · sell at horizon

5-year hold

• IRR: 2.0%
• Equity multiple: 1.08×
• Total profit: $2,677
• Equity at exit: $18,638

10-year hold

• IRR: 11.2%
• Equity multiple: 1.85×
• Total profit: $29,922
• Equity at exit: $10,808

Cash invested: $35,000 (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: 111
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,537 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$135 /mo · $1,626/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $371

Break-even live

Break-even rent $1,067

Max offer price $125,000

Occupancy floor 71%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
236 Crabapple Ln Unit Right Buffalo, NY	3.0	1.5	1250	$1,800	$1.44	43d	1	0.42mi

Listing history 2 events

1. 2026-05-01
   status Pending
2. 2026-03-19
   listed $125,000 Active

ⓘ 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: $1,626 · $135/mo
• Projected year-2 tax: $1,869 · $156/mo
• Expected delta: +$243/yr (+$20/mo · 15.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $18,442
• − Mortgage interest: −$7,002
• − Property taxes: −$1,626
• − Insurance: −$625
• − Repairs & maintenance: −$1,475
• − Management: −$1,475
• − Depreciation: −$3,636
• Taxable income: $2,602
• Est. tax owed @ 24.0%: −$624
• After-tax cash flow: $3,828/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): 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

2 events — show timeline

• 2026-05-01 Pending — WNYREIS
• 2026-03-19 Listed $125,000 WNYREIS

Property tax history

+13.1%/yr

Latest (2025): $1,626 · +16.3% YoY. Source: county tax records.