140 Wendel St · Lancaster, NY 14043

$129,900

3 bd · 1.0 ba · 1,752 sqft · SingleFamily public records · 31 Days on market

Built 1930 0.87 ac lot

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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 +29.4/30.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Rent growth +3.9/5.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bring your vision to life on this prime residential property nestled in a quiet suburban neighborhood in Depew. Just minutes from Transit Road and its many conveniences, this location offers both tranquility and accessibility. The property features a well-maintained two-car garage, long driveway, and wooded surroundings, providing added privacy and wildlife sightings. With ample space to build, the possibilities here are wide open. Utilities are already in place, extending approximately 175 feet from the front of the property and in working order. The existing slab-built structure is in need of significant renovation or removal, making this an ideal opportunity for investors, builders, or anyone looking to start fresh and create something truly their own. Staircase is not stable- PLEASE DO NOT USE.

Key facts

• Ample space to build
• 0.87 acre lot
• 2 garage spots

Tags

• PRIME RESIDENTIAL PROPERTY
• QUIET SUBURBAN NEIGHBORHOOD
• PEACEFUL WOODED SURROUNDINGS
• AMPLE SPACE TO BUILD
• UTILITIES IN WORKING ORDER
• EXISTING SLAB-BUILT STRUCTURE

Property features AI

Exterior

• Parking: Detached garage with electricity; 2 garage spaces
• Utilities: Electricity connected; Public water connected; Sewer available
• Home design: 2-story property; Existing/resale condition
• Construction: Brick and vinyl siding exterior; Architectural shingle roof; Block foundation; PEX plumbing
• Exterior features: Blacktop driveway; Gravel driveway; Rectangular residential lot with city street frontage

Interior

• Bathrooms: One full bathroom (main level)
• Heating & cooling: Gas forced-air heating
• Interior features: Bathroom rough-in; Other interior features noted in remarks
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $459 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 2.9% in Lancaster — 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 78/100 on livability (#164 in NY, #2,566 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: 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 31% 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 $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 10y 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 $80k; list at $130k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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. 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: 1.46% ✓
• Cap rate: 10.53%
• Cash-on-cash: 15.13%
• DSCR: 1.67
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $399,456
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
53 Via Donato E	0.08mi	3/2.5	1,620 (-8%)	5mo	$450,000	$278	74
125 Harvey Dr	0.34mi	4/1.5 (+1)	1,736 (-1%)	11mo	$402,000	$232	67
142 Albert Dr	0.29mi	4/1.5 (+1)	1,540 (-12%)	5mo	$355,000	$231	55
58 Briarwood Dr	0.55mi	3/2.5	1,866 (+6%)	7mo	$425,000	$228	52
40 Michael Anthony Ln	0.71mi	3/2.0	1,650 (-6%)	6mo	$400,000	$242	48
58 Williamsburg Ln	0.55mi	3/1.5	1,558 (-11%)	9mo	$410,000	$263	47
106 Croydon Dr	0.62mi	4/2.5 (+1)	1,870 (+7%)	3mo	$387,000	$207	46
14 Autumn Ln	0.71mi	3/1.5	1,534 (-12%)	4mo	$280,000	$183	41
165 Strasmer Rd	0.68mi	3/1.0	1,500 (-14%)	9mo	$300,000	$200	37
37 Country Pl	0.73mi	3/2.0	1,592 (-9%)	12mo	$340,000	$214	36
1896 Como Park Blvd	0.74mi	3/2.5	1,544 (-12%)	5mo	$304,001	$197	35
53 Camner Ave	0.66mi	4/1.5 (+1)	2,010 (+15%)	16mo	$334,900	$167	24

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: 9.2%
• Equity multiple: 1.38×
• Total profit: $13,652
• Equity at exit: $19,369

10-year hold

• IRR: 20.8%
• Equity multiple: 3.02×
• Total profit: $73,296
• Equity at exit: $11,231

Cash invested: $36,372 (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: 5.7×

Monthly cashflow live

• Estimated rent: $1,890 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$299 /mo · $3,591/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $459

Break-even live

Break-even rent $1,310

Max offer price $129,900

Occupancy floor 71%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4845 Transit Rd Depew, NY	1.0–3.0	1.0–2.0	1115	$2,255	$2.02	1d	20	0.90mi
1425 Como Park Blvd Depew, NY	2.0	1.5	2310	$1,600	$0.69	1d	1	1.00mi

Listing history 37 events

1. 2026-06-18
   days on market $129,900 Active 31 DOM
2. 2026-06-17
   days on market $129,900 Active 30 DOM
3. 2026-06-16
   days on market $129,900 Active 29 DOM
4. 2026-06-15
   days on market $129,900 Active 28 DOM
5. 2026-06-13
   days on market $129,900 Active 26 DOM
6. 2026-06-10
   days on market $129,900 Active 23 DOM
7. 2026-06-09
   days on market $129,900 Active 22 DOM
8. 2026-06-08
   days on market $129,900 Active 21 DOM
9. 2026-06-07
   days on market $129,900 Active 20 DOM
10. 2026-06-03
    days on market $129,900 Active 16 DOM
11. 2026-06-02
    days on market $129,900 Active 15 DOM
12. 2026-06-01
    days on market $129,900 Active 14 DOM
13. 2026-05-31
    days on market $129,900 Active 13 DOM
14. 2026-05-18
    listed $129,900 Active

    Show marketing remark (809 chars)

    Bring your vision to life on this prime residential property nestled in a quiet suburban neighborhood in Depew. Just minutes from Transit Road and its many conveniences, this location offers both tranquility and accessibility. The property features a well-maintained two-car garage, long driveway, and wooded surroundings, providing added privacy and wildlife sightings. With ample space to build, the possibilities here are wide open. Utilities are already in place, extending approximately 175 feet from the front of the property and in working order. The existing slab-built structure is in need of significant renovation or removal, making this an ideal opportunity for investors, builders, or anyone looking to start fresh and create something truly their own. Staircase is not stable- PLEASE DO NOT USE.

15. 2026-05-18
    listed $129,900 Active 809-char remark

    Show marketing remark (809 chars)

    Bring your vision to life on this prime residential property nestled in a quiet suburban neighborhood in Depew. Just minutes from Transit Road and its many conveniences, this location offers both tranquility and accessibility. The property features a well-maintained two-car garage, long driveway, and wooded surroundings, providing added privacy and wildlife sightings. With ample space to build, the possibilities here are wide open. Utilities are already in place, extending approximately 175 feet from the front of the property and in working order. The existing slab-built structure is in need of significant renovation or removal, making this an ideal opportunity for investors, builders, or anyone looking to start fresh and create something truly their own. Staircase is not stable- PLEASE DO NOT USE.

16. 2023-06-20
    soldstatus $80,000
17. 2023-06-16
    soldstatus $80,000 Closed Sale or Rented 351-char remark

    Show marketing remark (351 chars)

    Investor special with this blank canvas of a home waiting for you all ready to rehab. Includes spacious lot and huge 2 car garage, located on a quiet street. Potential awaits you. Per sellers request no time stamped offers will be reviewed prior to offer negotiation date. Showings begin immediately, offers will be reviewed Friday 05/19/2023 at 10am.

18. 2023-05-19
    status Pending Sale 351-char remark

    Show marketing remark (351 chars)

    Investor special with this blank canvas of a home waiting for you all ready to rehab. Includes spacious lot and huge 2 car garage, located on a quiet street. Potential awaits you. Per sellers request no time stamped offers will be reviewed prior to offer negotiation date. Showings begin immediately, offers will be reviewed Friday 05/19/2023 at 10am.

19. 2023-05-12
    listed $74,900 Active 351-char remark

    Show marketing remark (351 chars)

    Investor special with this blank canvas of a home waiting for you all ready to rehab. Includes spacious lot and huge 2 car garage, located on a quiet street. Potential awaits you. Per sellers request no time stamped offers will be reviewed prior to offer negotiation date. Showings begin immediately, offers will be reviewed Friday 05/19/2023 at 10am.

20. 2021-03-04
    historical
21. 2020-10-05
    listed $112,000 Active
22. 2020-10-05
    historical
23. 2020-09-09
    price $112,000
24. 2020-04-03
    historical
25. 2020-04-03
    listed $118,400 Active
26. 2019-10-04
    historical
27. 2019-10-04
    listed $118,400 Active
28. 2019-04-05
    historical
29. 2019-04-05
    listed $118,400 Active
30. 2018-10-05
    historical
31. 2018-10-05
    listed $119,000 Active
32. 2018-03-05
    historical
33. 2018-03-05
    listed $119,000 Active
34. 2017-09-06
    listed $119,900 Active
35. 2017-03-01
    historical
36. 2017-01-20
    price $99,000
37. 2016-09-02
    listed $119,900 Active

ⓘ 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: $3,591 · $299/mo
• Projected year-2 tax: $3,591 · $299/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 · 16 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: $22,683
• − Mortgage interest: −$7,276
• − Property taxes: −$3,591
• − Insurance: −$650
• − Repairs & maintenance: −$1,815
• − Management: −$1,815
• − Depreciation: −$3,779
• Taxable income: $3,758
• Est. tax owed @ 24.0%: −$902
• After-tax cash flow: $4,603/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 — Lancaster

• Score: 78/100
• State rank: #164
• US rank: #2566

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Erie County · 714,559 people
• City population: 35,635
• 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

+8.3% since first listed

24 events — show timeline

• 2026-05-18 Listed $129,900 WNYREIS
• 2026-05-18 Listed $129,900 WNYREIS
• 2023-06-20 Sold (Public Records) $80,000 Public Records
• 2023-06-16 Sold (MLS) $80,000 WNYREIS
• 2023-05-19 Pending — WNYREIS
• 2023-05-12 Listed $74,900 WNYREIS
• 2021-03-04 Listing Removed — WNYREIS
• 2020-10-05 Listing Removed — WNYREIS
• 2020-10-05 Listed $112,000 WNYREIS
• 2020-09-09 Price Changed $112,000 WNYREIS
• 2020-04-03 Listed $118,400 WNYREIS
• 2020-04-03 Listing Removed — WNYREIS
• 2019-10-04 Listed $118,400 WNYREIS
• 2019-10-04 Listing Removed — WNYREIS
• 2019-04-05 Listed $118,400 WNYREIS
• 2019-04-05 Listing Removed — WNYREIS
• 2018-10-05 Listed $119,000 WNYREIS
• 2018-10-05 Listing Removed — WNYREIS
• 2018-03-05 Listed $119,000 WNYREIS
• 2018-03-05 Listing Removed — WNYREIS
• 2017-09-06 Listed $119,900 WNYREIS
• 2017-03-01 Listing Removed — WNYREIS
• 2017-01-20 Price Changed $99,000 WNYREIS
• 2016-09-02 Listed $119,900 WNYREIS

Property tax history

+5.0%/yr

Latest (2025): $3,591 · +3.9% YoY. Source: county tax records.