146 Niagara Way · Manchester, NY 14504

$15,000

2 bd · 1.5 ba · 780 sqft · SingleFamily · 259 Days on market

Built 1974 ↓ 9% since listing

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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 +4.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move in ready 2 bedroom, 1 bathroom home available for quick possession. With a little elbow grease this can be a gem. Recently updated - new floors, hot water heater, roof, and windows. All appliances less than 5 years old. Also has a heated porch off the back of the home. Friendly Village is a quiet community with a pool and a clubhouse equipped with a kitchen and laundry if machines if needed! Taxes, water and garbage pickup are included in the monthly lot rent. Home is being sold as is - buyer must have park approval.

Key facts

• Updated in 2018
• Vinyl windows
• Insulation

Tags

• UPDATED IN 2018
• NEW FLOORING
• VINYL WINDOWS
• RUBBER ROOF
• WATER LINES
• INSULATION

Property features AI

Finance

• Financial info: Land lease: $490 per month
• HOA & community: Monthly association fee

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: Single-wide mobile home; 1 story; Existing construction
• Construction: Aluminum siding; Slab foundation
• Exterior features: Blacktop driveway; Shed(s) / storage

Interior

• Kitchen: Gas oven; Gas range; Range hood; Refrigerator; Exhaust fan
• Bedrooms: 2 main-level bedrooms
• Flooring: Laminate flooring; Varied flooring
• Bathrooms: 1 full bathroom; 1 half bathroom; 2 main-level bathrooms
• Heating & cooling: Gas heating; Forced air
• Interior features: Breakfast bar; Open living/dining area; Solid surface counters; Sunroom/Florida room

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $15k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).
• Recommended offer: $13k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#562 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools D, employment D, amenities F.
• Manchester-Shortsville Central School District (Red Jacket) (rural): math 49% / reading 54% proficiency, ranked #343 of 590 in NY (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 11 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 284 units permitted in Ontario County in 2024 (69 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $104 of loan paydown is wiped out by about $450 of value loss. Plan a longer hold.
• Ontario County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 259 days — a 12% lower offer ($13k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $4k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $13,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 259 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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 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?
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: 9.50% ✓
• Cap rate: 88.06%
• Cash-on-cash: 292.03%
• DSCR: 13.99
• GRM: 0.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 15.93×
• Total profit: $62,688
• Equity at exit: $2,237

10-year hold

• IRR: —
• Equity multiple: 33.98×
• Total profit: $138,498
• Equity at exit: $1,297

Cash invested: $4,200 (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 14504

• Home prices YoY: -16.0%
• Active inventory: 11
• Price-to-rent: 0.9×

Monthly cashflow live

• Estimated rent: $1,425 medium
• Mortgage (P&I): −$79
• Tax est. 1.5%: −$19 /mo · $225/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $1,022

Break-even live

Break-even rent $131

Max offer price $15,000

Occupancy floor 23%

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: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
69 State St Manchester, NY	2.0	1.0	900	$1,425	$1.58	2d	1	0.98mi

Listing history 13 events

1. 2026-06-03
   days on market $15,000 Active 259 DOM
2. 2026-06-01
   days on market $15,000 Active 258 DOM
3. 2026-05-31
   days on market $15,000 Active 257 DOM
4. 2026-05-12
   price $15,000
5. 2026-01-09
   price $17,000
6. 2025-09-16
   listed $19,000 Active
7. 2022-06-09
   status Pending Sale 528-char remark

   Show marketing remark (528 chars)

   Move in ready 2 bedroom, 1 bathroom home available for quick possession. With a little elbow grease this can be a gem. Recently updated - new floors, hot water heater, roof, and windows. All appliances less than 5 years old. Also has a heated porch off the back of the home. Friendly Village is a quiet community with a pool and a clubhouse equipped with a kitchen and laundry if machines if needed! Taxes, water and garbage pickup are included in the monthly lot rent. Home is being sold as is - buyer must have park approval.

8. 2022-06-09
   soldstatus $16,500 Closed Sale or Rented 528-char remark

   Show marketing remark (528 chars)

   Move in ready 2 bedroom, 1 bathroom home available for quick possession. With a little elbow grease this can be a gem. Recently updated - new floors, hot water heater, roof, and windows. All appliances less than 5 years old. Also has a heated porch off the back of the home. Friendly Village is a quiet community with a pool and a clubhouse equipped with a kitchen and laundry if machines if needed! Taxes, water and garbage pickup are included in the monthly lot rent. Home is being sold as is - buyer must have park approval.

9. 2022-05-24
   status Active 528-char remark

   Show marketing remark (528 chars)

   Move in ready 2 bedroom, 1 bathroom home available for quick possession. With a little elbow grease this can be a gem. Recently updated - new floors, hot water heater, roof, and windows. All appliances less than 5 years old. Also has a heated porch off the back of the home. Friendly Village is a quiet community with a pool and a clubhouse equipped with a kitchen and laundry if machines if needed! Taxes, water and garbage pickup are included in the monthly lot rent. Home is being sold as is - buyer must have park approval.

10. 2022-05-23
    historical Continue to Show- Under Contract 528-char remark

    Show marketing remark (528 chars)

    Move in ready 2 bedroom, 1 bathroom home available for quick possession. With a little elbow grease this can be a gem. Recently updated - new floors, hot water heater, roof, and windows. All appliances less than 5 years old. Also has a heated porch off the back of the home. Friendly Village is a quiet community with a pool and a clubhouse equipped with a kitchen and laundry if machines if needed! Taxes, water and garbage pickup are included in the monthly lot rent. Home is being sold as is - buyer must have park approval.

11. 2022-05-12
    listed $16,500 Active 528-char remark

    Show marketing remark (528 chars)

    Move in ready 2 bedroom, 1 bathroom home available for quick possession. With a little elbow grease this can be a gem. Recently updated - new floors, hot water heater, roof, and windows. All appliances less than 5 years old. Also has a heated porch off the back of the home. Friendly Village is a quiet community with a pool and a clubhouse equipped with a kitchen and laundry if machines if needed! Taxes, water and garbage pickup are included in the monthly lot rent. Home is being sold as is - buyer must have park approval.

12. 2019-02-22
    soldstatus $16,500 Closed Sale or Rented 322-char remark

    Show marketing remark (322 chars)

    Friendly Village Singlewide Home - 2 bedroom 1.5 bath open floor plan, enclosed side porch. Totally remodeled -- All New in 2018, flooring, subflooring, vinyl windows, rubber roof, water lines, drywall, ceilings, insulation, freshly painted inside and out, exterior door with screen. Abundant built-ins in both bedrooms.

13. 2019-02-01
    listed $16,500 Active 322-char remark

    Show marketing remark (322 chars)

    Friendly Village Singlewide Home - 2 bedroom 1.5 bath open floor plan, enclosed side porch. Totally remodeled -- All New in 2018, flooring, subflooring, vinyl windows, rubber roof, water lines, drywall, ceilings, insulation, freshly painted inside and out, exterior door with screen. Abundant built-ins in both bedrooms.

ⓘ 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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,100
• − Mortgage interest: −$840
• − Property taxes: −$225
• − Insurance: −$75
• − Repairs & maintenance: −$1,368
• − Management: −$1,368
• − Depreciation: −$436
• Taxable income: $12,787
• Est. tax owed @ 24.0%: −$3,069
• After-tax cash flow: $9,196/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: Manchester-Shortsville Central School District (Red Jacket)
• NCES district ID: 3624270
• Math proficiency: 49% ▼ -6.00%
• Reading proficiency: 54% ▲ 11.00%
• Median HH income: $56,758
• Composite: 44.66/100
• National rank: #2768
• State rank: #343 of 590 in NY

Livability — Manchester

• Score: 68/100
• State rank: #562
• US rank: #10095

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manchester, NY
• City population: 1,655
• Population (ZIP): 1,655

Population outlook (Ontario County) Hauer SSP2

• Today (2025): 111,230 people
• By 2030: 111,401 · +0.2%
• By 2040: 109,535 · -1.5%
• By 2050: 104,895 · -5.7%
• By 2075: 92,999 · -16.4%
• By 2100: 73,723 · -33.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Asian 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Iranian 5% Romanian 4%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Ontario

• 2024 margin: Toss-up / Even · D 49.4% · R 50.6%
• 2008→2024 swing: -1.0pp toward R · 2008: -0.1pp · 2024: -1.2pp
• All cycles: 2024: R+1.2 2020: R+0.0 2016: R+8.6 2012: R+1.6 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -48.82%
• Current HPI: 256.6366
• 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

-9.1% since first listed

10 events — show timeline

• 2026-05-12 Price Changed $15,000 UNYREIS
• 2026-01-09 Price Changed $17,000 UNYREIS
• 2025-09-16 Listed $19,000 UNYREIS
• 2022-06-09 Pending — UNYREIS
• 2022-06-09 Sold (MLS) $16,500 UNYREIS
• 2022-05-24 Relisted — UNYREIS
• 2022-05-23 Contingent — UNYREIS
• 2022-05-12 Listed $16,500 UNYREIS
• 2019-02-22 Sold (MLS) $16,500 UNYREIS
• 2019-02-01 Listed $16,500 UNYREIS