6035 N Transit Rd #143 · Lockport, NY 14094

$24,000

2 bd · 1.0 ba · 980 sqft · Manufactured · 12 Days on market

Built 1974 Fair condition

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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 +3.9/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable living at the Village Manufactured Home Park. This 2br Single wide offers flexibility living with Garage, Carport and appliances included. With the limited inventory market, this one is not expected to last. Bring your checkbook and some TLC to make this home your dream come true.

Key facts

• Garage
• Built 1974
• Listed 12 days

Property features AI

Finance

• Financial info: Monthly land lease
• HOA & community: Monthly association fee; Community clubhouse

Exterior

• Parking: Attached garage; Carport; Driveway; Garage with storage and electricity; Approximately 1.5 garage spaces
• Utilities: Cable available; Electricity available (circuit breakers); Public water connected; Sewer connected
• Home design: Single-wide mobile home; One story; Resale property; Model: LE GRANDE
• Construction: Aluminum siding; Copper plumbing; Membrane (rubber) roof; Existing construction
• Exterior features: Awning(s); Blacktop driveway; Deck; Enclosed porch; Front porch

Interior

• Kitchen: Electric cooktop; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Vinyl; Varied flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas forced-air heating
• Interior features: Eat-in kitchen; Workshop; Thermal windows
• Laundry & utility: Laundry on the main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $24k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $691 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $24k).
• Cap rate 40.9% vs local median 4.5% in Lockport — 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 76/100 on livability (#232 in NY, #3,669 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute D+, crime F, employment D-.
• Lockport City School District (town): math 44% / reading 49% proficiency, ranked #452 of 590 in NY (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.7%/yr); 357 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($75k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $166 of loan paydown is wiped out by about $720 of value loss. Plan a longer hold.
• Niagara County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $24,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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 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: 4.52% ✓
• Cap rate: 40.86%
• Cash-on-cash: 123.46%
• DSCR: 6.49
• GRM: 1.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.67% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.09×
• Total profit: $40,898
• Equity at exit: $3,578

10-year hold

• IRR: —
• Equity multiple: 15.20×
• Total profit: $95,444
• Equity at exit: $2,075

Cash invested: $6,720 (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 14094

• Rents YoY: 3.7%
• Active inventory: 357
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,085 medium
• Mortgage (P&I): −$126
• Tax est. 1.5%: −$30 /mo · $360/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $691

Break-even live

Break-even rent $210

Max offer price $24,000

Occupancy floor 31%

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: $6,000
• Closing costs: $720
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
53 Dayton St Lockport, NY	3.0	1.0	930	$1,150	$1.24	11d	1	0.73mi
47 Waterman St Unit 3 Lockport, NY	2.0	1.0	1100	$1,150	$1.05	23d	1	1.49mi

Listing history 10 events

1. 2026-06-16
   statusdays on market $24,000 Pending 12 DOM
2. 2026-06-15
   days on market $24,000 Active 11 DOM
3. 2026-06-13
   days on market $24,000 Active 9 DOM
4. 2026-06-13
   days on market $24,000 Active 8 DOM
5. 2026-06-10
   days on market $24,000 Active 6 DOM
6. 2026-06-09
   days on market $24,000 Active 5 DOM
7. 2026-06-08
   days on market $24,000 Active 4 DOM
8. 2026-06-07
   days on market $24,000 Active 3 DOM
9. 2026-06-05
   remarks 295-char remark
10. 2026-06-05
    listed $24,000 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $13,021
• − Mortgage interest: −$1,344
• − Property taxes: −$360
• − Insurance: −$120
• − Repairs & maintenance: −$1,042
• − Management: −$1,042
• − Depreciation: −$698
• Taxable income: $8,415
• Est. tax owed @ 24.0%: −$2,020
• After-tax cash flow: $6,277/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.

Condition & rehab AI · 2 photos

Fair 45/100 Cosmetic rehab

This manufactured home is in fair condition with significant repairs and maintenance needed, particularly to the roof and siding. Painting and landscaping improvements would significantly enhance its value.

Repairs flagged

• Major roof — Signs of significant wear and potential damage.
• Major siding — Peeling and chipping paint indicating extensive damage.
• Major landscaping — Sparse and unkempt, indicating a need for maintenance and possibly some landscaping improvements.

Value-add opportunities

• Both painting and roof repair — These updates would improve the home's appearance and increase its value for both resale and rental.
• Both landscaping improvements — A well-maintained and landscaped exterior can significantly increase the home's curb appeal and value.
• Both interior updates — Updating the interior can improve the home's livability and increase its value for both resale and rental.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of significant wear and potential damage.	Major	$15,000–50,000
siding · Peeling and chipping paint indicating extensive damage.	Major	$15,000–50,000
landscaping · Sparse and unkempt, indicating a need for maintenance and possibly some landscaping improvements.	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both painting and roof repair — These updates would improve the home's appearance and increase its value for both resale and rental. ↑
• Both landscaping improvements — A well-maintained and landscaped exterior can significantly increase the home's curb appeal and value. ↑
• Both interior updates — Updating the interior can improve the home's livability and increase its value for both resale and rental. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Lockport City School District
• NCES district ID: 3617670
• Math proficiency: 44% ▼ -7.00%
• Reading proficiency: 49% ▲ 3.00%
• Median HH income: $43,793
• Composite: 39.28/100
• National rank: #3997
• State rank: #452 of 590 in NY

Livability — Lockport

• Score: 76/100
• State rank: #232
• US rank: #3669

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lockport, NY
• County: Niagara County · 157,377 people
• City population: 50,153
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 50,153
• Household income: $75,427
• Rent vs Own: 28.1% rent · 71.9% own
• Severe rent burden: 1112.0

Population outlook (Niagara County) Hauer SSP2

• Today (2025): 204,149 people
• By 2030: 197,900 · -3.1%
• By 2040: 182,239 · -10.7%
• By 2050: 165,198 · -19.1%
• By 2075: 129,416 · -36.6%
• By 2100: 96,222 · -52.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 6% Black 6% Hispanic / Latino 3%
• Common ancestry: Romanian 9% Slovak 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 1% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Niagara

• 2024 margin: R (+14.9) · D 42.5% · R 57.5%
• 2008→2024 swing: -15.9pp toward R · 2008: 1.0pp · 2024: -14.9pp
• All cycles: 2024: R+14.9 2020: R+9.7 2016: R+19.0 2012: D+0.6 2008: D+1.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -262.57%
• Current HPI: 303.6109
• Rent YoY: ▲ 3.67%
• 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

1 event — show timeline

• 2026-06-03 Listed $24,000 WNYREIS