501 Roanoke Ave · Lake Erie Beach, NY 14006

$1,000

2 bd · 1.0 ba · 900 sqft · SingleFamily public records · 8 Days on market

Built 1930 10,000 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Offers are due Friday June 5 at noon. ATTN INVESTORS: Great opportunity for a flip, LTR, or STR near some of Lake Erie's hottest beaches!! Come see for yourself!

Key facts

• 0.23 acre lot
• 2 garage spots
• Built 1930

Property features AI

Exterior

• Parking: Detached garage with electricity; Approximately 2.5 garage spaces
• Utilities: Public water connected; Sewer connected
• Home design: Single-story home; Vinyl siding; Existing (resale) property
• Construction: Block foundation; Vinyl siding exterior
• Exterior features: Concrete driveway; Shed(s) / storage; Near public transit; Rectangular residential lot; 100 x 100 lot dimensions; City street frontage

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Eat-in kitchen; Bedroom on main level; Crawl space basement
• Laundry & utility: Main-level laundry

🏷️ Possibly a rental listed for sale. The $1,000 price doesn't fit this home's estimated sale value (~$153,000) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $1k.

Deal economics

• At list price, monthly cash flow is $959 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1k).
• Cap rate 1237.3% vs local median 2.8% in Lake Erie Beach — 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 62/100 on livability (#836 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: schools D-, amenities F, commute F.
• Evans-Brant Central School District (Lake Shore) (suburban): math 43% / reading 51% proficiency, ranked #424 of 590 in NY (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 102 active listings in the ZIP; 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 $7 of loan paydown is wiped out by about $30 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $280 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 6y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,000

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 130.73% ✓
• Cap rate: 1237.34%
• Cash-on-cash: 4396.59%
• DSCR: 196.62
• GRM: 0.1

CMA / ARV

• ARV (on-the-fly): $153,000
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
427 Herr Rd	0.38mi	2/1.0	863 (-4%)	17mo	$145,000	$168	61
548 Herr Rd	0.31mi	2/1.0	1,028 (+14%)	4mo	$220,000	$214	59
9567 Frontier St	0.24mi	3/1.0 (+1)	1,000 (+11%)	11mo	$210,000	$210	56
9404 Lafayette St	0.25mi	2/1.0	1,006 (+12%)	23mo	$139,000	$138	50
592 Dawn Ave	0.43mi	2/1.0	960 (+7%)	23mo	$170,000	$177	49
450 Jefferson Ave	0.24mi	3/1.5 (+1)	1,008 (+12%)	18mo	$40,000	$40	47
9366 Jamestown St	0.35mi	2/1.0	999 (+11%)	23mo	$170,000	$170	46
9389 Orange St	0.21mi	3/2.0 (+1)	990 (+10%)	23mo	$160,000	$162	46
9364 Lake Shore Rd	0.68mi	2/2.0	988 (+10%)	7mo	$290,000	$294	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 218.87×
• Total profit: $61,004
• Equity at exit: $149

10-year hold

• IRR: —
• Equity multiple: 472.61×
• Total profit: $132,051
• Equity at exit: $86

Cash invested: $280 (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 14006

• Home prices YoY: -16.8%
• Active inventory: 102
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $1,307 medium
• Mortgage (P&I): −$5
• Tax est. 1.5%: −$1 /mo · $15/yr
• Insurance: −$0
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $959

Break-even live

Break-even rent $93

Max offer price $1,000

Occupancy floor 22%

Sensitivity live

Price	-10% $960	-5% $960	+0% $959	+5% $959	+10% $959
Rent	-10% $856	-5% $908	+0% $959	+5% $1,011	+10% $1,063
Rate	-1.0pp $960	-0.5pp $960	base $959	+0.5pp $959	+1.0pp $959

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: $250
• Closing costs: $30
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-04
   days on market $1,000 Active 8 DOM
2. 2026-06-02
   days on market $1,000 Active 7 DOM
3. 2026-06-01
   days on market $1,000 Active 6 DOM
4. 2026-05-31
   days on market $1,000 Active 5 DOM
5. 2026-05-26
   listed $1,000 Active
6. 2026-04-10
   historical
7. 2026-04-04
   price $60,000
8. 2026-03-24
   price $65,000
9. 2026-03-12
   listed $70,000 Active
10. 2025-09-20
    historical
11. 2025-08-30
    price $70,000
12. 2025-08-20
    listed $75,000 Active
13. 2025-06-30
    soldstatus $70,000
14. 2020-09-01
    soldstatus $47,000 Closed Sale or Rented
15. 2020-07-22
    status Pending Sale
16. 2020-06-03
    price $57,500
17. 2020-03-10
    listed $62,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,688
• − Mortgage interest: −$56
• − Property taxes: −$15
• − Insurance: −$802
• − Repairs & maintenance: −$1,255
• − Management: −$1,255
• − Depreciation: −$29
• Taxable income: $12,275
• Est. tax owed @ 24.0%: −$2,946
• After-tax cash flow: $8,567/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: Evans-Brant Central School District (Lake Shore)
• NCES district ID: 3616560
• Math proficiency: 43% ▼ -9.00%
• Reading proficiency: 51% ▲ 6.00%
• Median HH income: $56,433
• Composite: 40.89/100
• National rank: #3619
• State rank: #424 of 590 in NY

Livability — Lake Erie Beach

• Score: 62/100
• State rank: #836
• US rank: #16262

Category grades

Amenities F Commute F Cost of living A+ Crime B Employment C+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Erie Beach, NY
• Population (ZIP): 9,354

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 (92%)
• Race & ethnicity: White 92% Two or more races 3% Black 2% Asian 1% Hispanic / Latino 1%
• Common ancestry: Romanian 16% Italian 4% Lithuanian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · French/Haitian/Cajun 1% Spanish 1% 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: ▼ -80.95%
• Current HPI: 401.7461
• Rent YoY: —
• Metro: —
• 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

-98.4% since first listed

13 events — show timeline

• 2026-05-26 Listed $1,000 WNYREIS
• 2026-04-10 Listing Removed — WNYREIS
• 2026-04-04 Price Changed $60,000 WNYREIS
• 2026-03-24 Price Changed $65,000 WNYREIS
• 2026-03-12 Listed $70,000 WNYREIS
• 2025-09-20 Listing Removed — WNYREIS
• 2025-08-30 Price Changed $70,000 WNYREIS
• 2025-08-20 Listed $75,000 WNYREIS
• 2025-06-30 Sold (Public Records) $70,000 Public Records
• 2020-09-01 Sold (MLS) $47,000 WNYREIS
• 2020-07-22 Pending — WNYREIS
• 2020-06-03 Price Changed $57,500 WNYREIS
• 2020-03-10 Listed $62,000 WNYREIS

Property tax history

+6.8%/yr

Latest (2025): $3,379 · +2.5% YoY. Source: county tax records.