117 Kenview Ave · Tonawanda Town, NY 14217

$239,900

4 bd · 2.0 ba · 1,612 sqft · MultiFamily public records · 13 Days on market

Built 1944 Est $274k · 12% under

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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 +22.9/30.0
• ARV discount +13.1/15.0
• DSCR +7.4/10.0
• 1% rule +7.2/10.0
• Rent growth +4.9/5.0
• Schools +3.9/10.0
• Livability +2.5/5.0
• 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: 2 units. confirmed

Listing remarks

Duplex in a fantastic location and great yard. Was completely refurbished with brand new paint, floor, kitchen and bathroom. Also, includes appliances.

Key facts

• Brand new floor
• Brand new kitchen
• Great yard

Tags

• FANTASTIC LOCATION
• GREAT YARD
• COMPLETELY REFURBISHED
• BRAND NEW PAINT
• BRAND NEW FLOOR
• BRAND NEW KITCHEN

Property features AI

Exterior

• Home design: Built in 1944
• Construction: Living area approximately 1,612
• Exterior features: Located in the Kenmore NW subdivision

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $423 ($5k/yr) — positive. Per door: $212/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Cap rate 8.4% 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 C — 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,916/mo this rent would consume 47% of the median local household income ($74k/yr) (locally 727% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $67k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $55k; list at $240k implies a 336% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1944 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $239,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1944 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 8.41%
• Cash-on-cash: 7.56%
• DSCR: 1.34
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $274,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
129 Kenview Ave	0.02mi	4/2.0	1,620 (+0%)	10mo	$275,000	$170	90
68 Tulane Rd	0.26mi	4/2.0	1,687 (+5%)	11mo	$306,000	$181	71
170 Mayville Ave	0.70mi	4/2.0	1,612 (0%)	3mo	$199,000	$123	65
161 Pullman Ave	0.52mi	4/2.0	1,612 (0%)	17mo	$280,000	$174	61
174 Woodward Ave	0.53mi	4/2.0	1,612 (0%)	17mo	$285,000	$177	61
151 Henderson Ave	0.53mi	4/2.0	1,664 (+3%)	11mo	$280,000	$168	60
104 Shepard Ave	0.58mi	3/2.0 (-1)	1,633 (+1%)	8mo	$278,000	$170	58
175 Mayville Ave	0.68mi	4/2.0	1,674 (+4%)	5mo	$225,000	$134	57
86 Pullman Ave	0.43mi	4/2.0	1,792 (+11%)	6mo	$315,000	$176	56
145 N End Ave	0.31mi	5/2.0 (+1)	1,728 (+7%)	16mo	$140,000	$81	56
49 Tulane Rd	0.25mi	4/2.0	1,852 (+15%)	12mo	$317,000	$171	53
181 Shepard Ave	0.56mi	4/2.0	1,796 (+11%)	18mo	$261,000	$145	40

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: 1.3%
• Equity multiple: 1.05×
• Total profit: $3,661
• Equity at exit: $35,770

10-year hold

• IRR: 15.8%
• Equity multiple: 2.62×
• Total profit: $108,757
• Equity at exit: $20,742

Cash invested: $67,172 (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: 13.7×

Monthly cashflow live

• Estimated rent: $2,916 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$523 /mo · $6,271/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$612
• Net cashflow: $423

Break-even live

Break-even rent $2,380

Max offer price $239,900

Occupancy floor 80%

Sensitivity live

Price	-10% $559	-5% $491	+0% $423	+5% $355	+10% $287
Rent	-10% $193	-5% $308	+0% $423	+5% $538	+10% $653
Rate	-1.0pp $544	-0.5pp $484	base $423	+0.5pp $361	+1.0pp $298

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,916
Total (2 units)			$2,916

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
148 Colonial Ave Buffalo, NY	4.0	2.0	1240	$2,900	$2.34	25d	1	0.41mi
237 W Girard Blvd Buffalo, NY	4.0	1.5	1329	$4,000	$3.01	25d	1	0.46mi
172 Tremont Ave Kenmore, NY	3.0	1.5	1569	$2,500	$1.59	12d	1	0.78mi
62 Seabrook St Buffalo, NY	4.0	1.0	1300	$2,000	$1.54	3d	1	1.41mi

Listing history 9 events

1. 2026-06-21
   days on market $239,900 Active 13 DOM
2. 2026-06-18
   days on market $239,900 Active 10 DOM
3. 2026-06-17
   days on market $239,900 Active 9 DOM
4. 2026-06-16
   days on market $239,900 Active 8 DOM
5. 2026-06-15
   days on market $239,900 Active 7 DOM
6. 2026-06-13
   days on market $239,900 Active 5 DOM
7. 2026-06-10
   days on market $239,900 Active 2 DOM
8. 2026-06-09
   remarks 151-char remark
9. 2026-06-09
   listed $239,900 Active 1 DOM

ⓘ 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: $6,271 · $523/mo
• Projected year-2 tax: $6,271 · $523/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: $34,992
• − Mortgage interest: −$13,438
• − Property taxes: −$6,271
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,799
• − Management: −$2,799
• − Depreciation: −$6,979
• Taxable income: $1,506
• Est. tax owed @ 24.0%: −$361
• After-tax cash flow: $4,715/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

+336.2% since first listed

3 events — show timeline

• 2026-06-09 Listed $239,900 FSBO.com
• 2011-06-28 Sold (Public Records) $55,000 Public Records
• 2011-06-28 Sold (Public Records) $55,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $6,271 · +3.4% YoY. Source: county tax records.