177 Henderson Ave · Tonawanda Town, NY 14217

$289,900

4 bd · 2.0 ba · 1,612 sqft · Townhouse public records · 31 Days on market

Built 1937 5,823 sqft lot Est $260k · 12% over

---

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 +13.2/30.0
• Rent growth +4.9/5.0
• 1% rule +4.4/10.0
• DSCR +4.0/10.0
• Schools +3.9/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.2/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this nicely maintained 2/2 duplex in Tonawanda. Both sides are nicely updated with current tenants willing to stay. Updated kitchens and bathrooms plus great bedroom sizes make this a must see! Both units have newer furnaces and hot water tanks, updated electric, glass block basement windows and move in ready for and the owner occupant or investor alike. No showings till open house 8/17 11am. Offers if any 8/20 5pm.

Key facts

• Updated bathrooms
• Updated kitchens
• Basement storage

Tags

• UPDATED KITCHENS
• UPDATED BATHROOMS
• BASEMENT STORAGE
• LAUNDRY HOOKUPS
• DETACHED GARAGE
• OFF-STREET PARKING

Property features AI

Finance

• Other: Property is a 2-unit building; Separate meters: 2 gas meters, 3 electric meters
• Financial info: Owner pays garage, snow removal, trash collection, and water; Gross income (multi-unit): $30,000; Operating expenses: $9,673 (includes insurance, maintenance, snow removal, trash, water/sewer)

Exterior

• Parking: Paved driveway; 2-car garage
• Utilities: Public water (connected); Sewer connected
• Home design: 2-story home; Resale property
• Construction: Year built: existing; Construction details: see remarks
• Exterior features: Rectangular lot; Lot dimensions approximately 52 x 110

Interior

• Flooring: Carpet; Laminate; Varied flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $290k.

Deal economics

• At list price, monthly cash flow is $-7 ($-88/yr) — negative.
• To cash-flow at today's rent, offer at most $289k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $274k (5.5% below list).
• Recommended offer: $274k (5.5% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 45% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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

• It's been on market 31 days — a 3% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y 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 $140k; list at $290k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $273,881 (5.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1937 — 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 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: 0.94% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.11%
• DSCR: 1.00
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $259,532
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 Pullman Ave	0.15mi	4/2.0	1,624 (+1%)	5mo	$250,000	$154	88
115 Pullman Ave	0.13mi	4/2.0	1,612 (0%)	13mo	$259,900	$161	83
189 Fowler Ave	0.06mi	4/2.0	1,612 (0%)	21mo	$281,000	$174	80
318 W Girard Blvd	0.18mi	4/2.0	1,764 (+9%)	9mo	$293,000	$166	68
142 Kenview Ave	0.52mi	4/2.0	1,674 (+4%)	16mo	$315,000	$188	56
314 Tremont Ave	0.49mi	4/2.0	1,824 (+13%)	1mo	$264,000	$145	54
70 Pullman Ave	0.20mi	4/2.0	1,792 (+11%)	23mo	$260,000	$145	53
59 Henderson Ave	0.22mi	4/2.0	1,792 (+11%)	22mo	$255,000	$142	52

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: -10.6%
• Equity multiple: 0.60×
• Total profit: $-32,823
• Equity at exit: $43,225

10-year hold

• IRR: 5.0%
• Equity multiple: 1.46×
• Total profit: $37,282
• Equity at exit: $25,065

Cash invested: $81,172 (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: 8.8×

Monthly cashflow live

• Estimated rent: $2,739 high
• Mortgage (P&I): −$1,520
• Tax from tax record: −$530 /mo · $6,359/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$575
• Net cashflow: $-7

Break-even live

Break-even rent $2,748

Max offer price $288,610

Occupancy floor 95%

Sensitivity live

Price	-10% $157	-5% $75	+0% $-7	+5% $-89	+10% $-171
Rent	-10% $-224	-5% $-115	+0% $-7	+5% $101	+10% $209
Rate	-1.0pp $139	-0.5pp $66	base $-7	+0.5pp $-82	+1.0pp $-159

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
237 W Girard Blvd Buffalo, NY	4.0	1.5	1329	$4,000	$3.01	25d	1	0.27mi
172 Tremont Ave Kenmore, NY	3.0	1.5	1569	$2,500	$1.59	12d	1	0.59mi
148 Colonial Ave Buffalo, NY	4.0	2.0	1240	$2,900	$2.34	25d	1	0.82mi
62 Seabrook St Buffalo, NY	4.0	1.0	1300	$2,000	$1.54	3d	1	0.84mi
158 Chadduck Ave Buffalo, NY	4.0	1.0	1200	$1,250	$1.04	25d	1	1.45mi
61 Baxter St Buffalo, NY	3.0	1.0	2014	$1,400	$0.70	3d	1	1.45mi

Listing history 23 events

1. 2026-06-21
   days on market $289,900 Active 31 DOM
2. 2026-06-18
   days on market $289,900 Active 28 DOM
3. 2026-06-17
   days on market $289,900 Active 27 DOM
4. 2026-06-16
   days on market $289,900 Active 26 DOM
5. 2026-06-15
   days on market $289,900 Active 25 DOM
6. 2026-06-13
   days on market $289,900 Active 23 DOM
7. 2026-06-10
   days on market $289,900 Active 20 DOM
8. 2026-06-09
   days on market $289,900 Active 19 DOM
9. 2026-06-08
   days on market $289,900 Active 18 DOM
10. 2026-06-07
    days on market $289,900 Active 17 DOM
11. 2026-06-03
    days on market $289,900 Active 13 DOM
12. 2026-06-02
    days on market $289,900 Active 12 DOM
13. 2026-06-01
    days on market $289,900 Active 11 DOM
14. 2026-05-31
    days on market $289,900 Active 10 DOM
15. 2026-05-21
    listed $289,900 Active
16. 2019-09-27
    soldstatus $140,000 Closed Sale or Rented 430-char remark

    Show marketing remark (430 chars)

    Welcome to this nicely maintained 2/2 duplex in Tonawanda. Both sides are nicely updated with current tenants willing to stay. Updated kitchens and bathrooms plus great bedroom sizes make this a must see! Both units have newer furnaces and hot water tanks, updated electric, glass block basement windows and move in ready for and the owner occupant or investor alike. No showings till open house 8/17 11am. Offers if any 8/20 5pm.

17. 2019-09-27
    soldstatus $140,000

    Show marketing remark (430 chars)

    Welcome to this nicely maintained 2/2 duplex in Tonawanda. Both sides are nicely updated with current tenants willing to stay. Updated kitchens and bathrooms plus great bedroom sizes make this a must see! Both units have newer furnaces and hot water tanks, updated electric, glass block basement windows and move in ready for and the owner occupant or investor alike. No showings till open house 8/17 11am. Offers if any 8/20 5pm.

18. 2019-08-23
    status Pending Sale 430-char remark

    Show marketing remark (430 chars)

    Welcome to this nicely maintained 2/2 duplex in Tonawanda. Both sides are nicely updated with current tenants willing to stay. Updated kitchens and bathrooms plus great bedroom sizes make this a must see! Both units have newer furnaces and hot water tanks, updated electric, glass block basement windows and move in ready for and the owner occupant or investor alike. No showings till open house 8/17 11am. Offers if any 8/20 5pm.

19. 2019-08-06
    listed $149,999 Active 430-char remark

    Show marketing remark (430 chars)

    Welcome to this nicely maintained 2/2 duplex in Tonawanda. Both sides are nicely updated with current tenants willing to stay. Updated kitchens and bathrooms plus great bedroom sizes make this a must see! Both units have newer furnaces and hot water tanks, updated electric, glass block basement windows and move in ready for and the owner occupant or investor alike. No showings till open house 8/17 11am. Offers if any 8/20 5pm.

20. 2010-12-30
    soldstatus $101,000 482-char remark

    Show marketing remark (482 chars)

    Conveniently located, nicely maintained 2/2 duplex features updated kitchen & bath in both units. Newer appliances '03. Left unit w/ hardwood floors. Right unit w/ carpeting. Bedrooms w/ large closets. Other updates include newer siding, roof, gutters & doors '04. Newer furnace & hot water tank '05. New sewer line. Updated electric. Attic access w/ pull down stairs. Full basement w/ glass block windows. Great front porch & partially fenced yard w/ patio.

21. 2010-12-30
    soldstatus $100,700

    Show marketing remark (482 chars)

    Conveniently located, nicely maintained 2/2 duplex features updated kitchen & bath in both units. Newer appliances '03. Left unit w/ hardwood floors. Right unit w/ carpeting. Bedrooms w/ large closets. Other updates include newer siding, roof, gutters & doors '04. Newer furnace & hot water tank '05. New sewer line. Updated electric. Attic access w/ pull down stairs. Full basement w/ glass block windows. Great front porch & partially fenced yard w/ patio.

22. 2010-09-22
    listed $102,900 482-char remark

    Show marketing remark (482 chars)

    Conveniently located, nicely maintained 2/2 duplex features updated kitchen & bath in both units. Newer appliances '03. Left unit w/ hardwood floors. Right unit w/ carpeting. Bedrooms w/ large closets. Other updates include newer siding, roof, gutters & doors '04. Newer furnace & hot water tank '05. New sewer line. Updated electric. Attic access w/ pull down stairs. Full basement w/ glass block windows. Great front porch & partially fenced yard w/ patio.

23. 2005-02-10
    soldstatus $85,000

ⓘ 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: $6,359 · $530/mo
• Projected year-2 tax: $6,359 · $530/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: $32,866
• − Mortgage interest: −$16,239
• − Property taxes: −$6,359
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,629
• − Management: −$2,629
• − Depreciation: −$8,433
• Taxable loss: −$4,874
• Est. tax savings @ 24.0%: +$1,170
• After-tax cash flow: $1,082/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

+241.1% since first listed

9 events — show timeline

• 2026-05-21 Listed $289,900 UNYREIS
• 2019-09-27 Sold (Public Records) $140,000 Public Records
• 2019-09-27 Sold (MLS) $140,000 WNYREIS
• 2019-08-23 Pending — WNYREIS
• 2019-08-06 Listed $149,999 WNYREIS
• 2010-12-30 Sold (Public Records) $100,700 Public Records
• 2010-12-30 Sold (MLS) $101,000 WNYREIS
• 2010-09-22 Listed $102,900 WNYREIS
• 2005-02-10 Sold (Public Records) $85,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $6,359 · +1.1% YoY. Source: county tax records.