7 Cloyes Ave · Depew, NY 14043

$210,000

4 bd · 2.0 ba · 1,588 sqft · MultiFamily public records · 63 Days on market

Built 1930 0.69 ac lot $132/sqft · 41% below area Est $356k · 41% under

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Why this score? — see what drove the B- 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 +25.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.3/10.0
• 1% rule +7.2/10.0
• Rent growth +3.9/5.0
• Schools +3.8/10.0
• Livability +3.6/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Excellent investment opportunity at 7 Cloyes in Depew! This well-maintained 1/1 duplex is tucked away at the back of the cul-de-sac and sits on a large lot, offering added privacy and space. The property features a 2-car garage, large storage shed, and strong rental income with both apartments leased at $860/month each, plus the garage currently rented for an additional $430/month. A great cash-flowing asset for any investor, this property can be purchased individually or as part of a package with the duplex up front, the single-family home in the middle, and the vacant lot at the front of the cul-de-sac. Don’t miss this rare chance to acquire multiple income-producing properties in one location!

Key facts

• Added privacy
• Large lot
• Cash-flowing asset

Tags

• LARGE LOT
• ADDED PRIVACY
• STRONG RENTAL INCOME
• CASH-FLOWING ASSET

🏷️ Possibly a rental listed for sale. The $210,000 price doesn't fit this home's estimated sale value (~$356,490) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $210k.

Deal economics

• At list price, monthly cash flow is $475 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $197k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 3.7% in Depew — 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 71/100 on livability (#408 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-, health & safety A-; Watch: crime F, amenities F, commute F.
• Depew Union Free School District (suburban): math 39% / reading 50% proficiency, ranked #461 of 590 in NY (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.8%/yr); 124 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 42% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $59k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $110k; list at $210k implies a 91% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $197,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.22% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.68%
• DSCR: 1.43
• GRM: 6.8

CMA / ARV

• ARV (median comp): $356,490
• List price: $210,000
• Delta: -41.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
174 Kieffer Ave #2	0.45mi	5/2.0 (+1)	1,743 (+10%)	5mo	$205,000	$118	54
57 Saint John St	0.72mi	3/2.0 (-1)	1,440 (-9%)	6mo	$130,000	$90	41
9 Field Ave	0.64mi	3/2.0 (-1)	1,352 (-15%)	22mo	$185,000	$137	22

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 · 5.75% rent growth · sell at horizon

5-year hold

• IRR: 1.5%
• Equity multiple: 1.06×
• Total profit: $3,595
• Equity at exit: $31,312

10-year hold

• IRR: 13.9%
• Equity multiple: 2.26×
• Total profit: $74,158
• Equity at exit: $18,157

Cash invested: $58,800 (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 14043

• Home prices YoY: -34.2%
• Rents YoY: 5.8%
• Active inventory: 124
• Price-to-rent: 13.6×

Monthly cashflow live

• Estimated rent: $2,568 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$365 /mo · $4,385/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$539
• Net cashflow: $475

Break-even live

Break-even rent $1,967

Max offer price $210,000

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,568
Total (2 units)			$2,568

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
Cowing St Lancaster, NY	3.0	1.0	1450	$1,400	$0.97	43d	1	0.92mi
1331 Borden Rd Unit R Depew, NY	3.0	1.5	1175	$1,595	$1.36	43d	1	1.02mi

Listing history 20 events

1. 2026-06-18
   days on market $210,000 Active 63 DOM
2. 2026-06-17
   days on market $210,000 Active 62 DOM
3. 2026-06-16
   days on market $210,000 Active 61 DOM
4. 2026-06-15
   days on market $210,000 Active 60 DOM
5. 2026-06-13
   days on market $210,000 Active 58 DOM
6. 2026-06-10
   days on market $210,000 Active 55 DOM
7. 2026-06-09
   days on market $210,000 Active 54 DOM
8. 2026-06-08
   days on market $210,000 Active 53 DOM
9. 2026-06-07
   days on market $210,000 Active 52 DOM
10. 2026-06-03
    days on market $210,000 Active 48 DOM
11. 2026-06-02
    days on market $210,000 Active 47 DOM
12. 2026-06-01
    days on market $210,000 Active 46 DOM
13. 2026-05-31
    days on market $210,000 Active 45 DOM
14. 2026-04-15
    listed $210,000 Active 711-char remark

    Show marketing remark (711 chars)

    Excellent investment opportunity at 7 Cloyes in Depew! This well-maintained 1/1 duplex is tucked away at the back of the cul-de-sac and sits on a large lot, offering added privacy and space. The property features a 2-car garage, large storage shed, and strong rental income with both apartments leased at $860/month each, plus the garage currently rented for an additional $430/month. A great cash-flowing asset for any investor, this property can be purchased individually or as part of a package with the duplex up front, the single-family home in the middle, and the vacant lot at the front of the cul-de-sac. Don’t miss this rare chance to acquire multiple income-producing properties in one location!

15. 2026-04-06
    historical
16. 2025-10-06
    listed $899,000 Active
17. 2023-10-24
    historical
18. 2023-07-11
    price $999,000
19. 2023-04-24
    listed $1,200,000 Active
20. 1993-05-28
    soldstatus $110,000

ⓘ 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: $4,385 · $365/mo
• Projected year-2 tax: $4,385 · $365/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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥92°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: $30,816
• − Mortgage interest: −$11,763
• − Property taxes: −$4,385
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,465
• − Management: −$2,465
• − Depreciation: −$6,109
• Taxable income: $2,578
• Est. tax owed @ 24.0%: −$619
• After-tax cash flow: $5,075/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: Depew Union Free School District
• NCES district ID: 3609030
• Math proficiency: 39% ▼ -19.00%
• Reading proficiency: 50% ▼ -1.00%
• Median HH income: $51,488
• Composite: 38.33/100
• National rank: #4224
• State rank: #461 of 590 in NY

Livability — Depew

• Score: 71/100
• State rank: #408
• US rank: #7016

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Depew, NY
• County: Erie County · 714,559 people
• City population: 25,098
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 25,098
• Household income: $74,112
• Rent vs Own: 27.9% rent · 72.1% own
• Severe rent burden: 854.0

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 (91%)
• Race & ethnicity: White 91% Hispanic / Latino 3% Two or more races 3% Black 2% Asian 1%
• Common ancestry: Romanian 30% Lithuanian 2% Slovak 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 91% English-only · Arabic 3% Russian/Polish/Slavic 2% Spanish 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: ▼ -152.13%
• Current HPI: 292.1082
• Rent YoY: ▲ 5.75%
• 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

+90.9% since first listed

7 events — show timeline

• 2026-04-15 Listed $210,000 WNYREIS
• 2026-04-06 Listing Removed — WNYREIS
• 2025-10-06 Listed $899,000 WNYREIS
• 2023-10-24 Listing Removed — WNYREIS
• 2023-07-11 Price Changed $999,000 WNYREIS
• 2023-04-24 Listed $1,200,000 WNYREIS
• 1993-05-28 Sold (Public Records) $110,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $4,385 · +4.2% YoY. Source: county tax records.