2793 Amsdell Rd · Wanakah, NY 14075

$325,000

4 bd · 2.0 ba · 2,684 sqft · MultiFamily public records · 16 Days on market

Built 1860 0.76 ac lot $121/sqft · 31% below area Est $473k · 31% under

---

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 +28.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Schools +4.7/10.0
• Rent growth +3.8/5.0
• Livability +3.5/5.0
• 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: 3 units. confirmed

Listing remarks MLS

Great investment opportunity-this 3 unit is almost 2700 sq. ft. which includes 2 units with 2 bedrooms each. Both units have been recently updated-large living rooms and bedrooms. 3rd unit is a 1 bedroom studio apartment. Building has updated furnace and AC unit. New windows recently installed. Property has a 2.5 car detached garage. 2 driveways, large lot-165 x 200. Owner can occupy this property or use as an investment opportunity.

Key facts

• Formal dining room
• Updated 3 unit home
• Eat in kitchen

Tags

• UPDATED 3 UNIT HOME
• DETACHED 3 CAR GARAGE
• CORNER LOT
• IN UNIT LAUNDRY
• EAT IN KITCHEN
• FORMAL DINING ROOM

Property features AI

Finance

• Financial info: Property configured as a 3-unit multifamily; Two separate gas meters and two separate electric meters; Operating expenses include utilities; Owner pays electricity, heat, and water for rental units; At least one unit currently rents for $700

Exterior

• Parking: Attached or detached 3-car garage; Paved parking; Two or more parking spaces; Garage door opener
• Utilities: Public water connected; Sewer connected; Electric with circuit breakers
• Home design: Two-story building; Existing/resale property
• Construction: Composite siding; Copper plumbing; Asphalt architectural shingle roof; Stone foundation; Built previously (existing)
• Exterior features: Private yard; Corner lot; Rectangular lot; See remarks

Interior

• Kitchen: Oven/Range; Refrigerator; Eat-in kitchen (in some units); Formal dining available in one unit
• Bedrooms: One 2-bedroom unit; One 1-bedroom unit; One 2-bedroom unit (three total units on site)
• Flooring: Hardwood; Carpet; Ceramic tile; Varies by unit
• Bathrooms: Three full bathrooms total (one in each unit)
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Washer and dryer provided in some units; Washer hookup; Laundry in-unit for at least one unit; Gas water heater

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 1×1bd/1ba units multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $356/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $325k).
• Recommended offer: $320k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 3.1% in Wanakah — 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 69/100 on livability (#508 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B+; Watch: amenities F, commute F, health & safety F.
• Frontier Central School District (suburban): math 54% / reading 55% proficiency, ranked #301 of 590 in NY (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+5.2%/yr); 262 active listings in the ZIP; solid renter incomes; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $4,307/mo this rent would consume 62% of the median local household income ($83k/yr) (locally 824% 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 $10k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $91k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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 $184k; list at $325k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $320,125 (1.5% below list)

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 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.33% ✓
• Cap rate: 10.24%
• Cash-on-cash: 14.10%
• DSCR: 1.63
• GRM: 6.3

CMA / ARV

• ARV (median comp): $472,850
• List price: $325,000
• Delta: -31.27%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.21% rent growth · sell at horizon

5-year hold

• IRR: 7.0%
• Equity multiple: 1.28×
• Total profit: $25,346
• Equity at exit: $48,459

10-year hold

• IRR: 18.2%
• Equity multiple: 2.67×
• Total profit: $152,271
• Equity at exit: $28,100

Cash invested: $91,000 (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 14075

• Rents YoY: 5.2%
• Active inventory: 262
• Price-to-rent: 18.6×

Monthly cashflow live

• Estimated rent: $4,307 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$493 /mo · $5,922/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$904
• Net cashflow: $1,069

Break-even live

Break-even rent $2,953

Max offer price $325,000

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,918
1× unit	1	1	$1,390
Total (3 units)			$4,307

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-05-15
   status Pending 1553-char remark
2. 2026-05-08
   historical Active Under Contract 1553-char remark
3. 2026-04-29
   listed $325,000 Active 1553-char remark
4. 2026-03-30
   status Pending
5. 2026-03-25
   historical Active Under Contract
6. 2026-03-24
   historical
7. 2026-03-17
   listed $319,900 Active
8. 2018-03-14
   soldstatus $184,000 Closed Sale or Rented

   Show marketing remark (439 chars)

   Great investment opportunity-this 3 unit is almost 2700 sq. ft. which includes 2 units with 2 bedrooms each. Both units have been recently updated-large living rooms and bedrooms. 3rd unit is a 1 bedroom studio apartment. Building has updated furnace and AC unit. New windows recently installed. Property has a 2.5 car detached garage. 2 driveways, large lot-165 x 200. Owner can occupy this property or use as an investment opportunity.

9. 2018-03-05
   soldstatus $184,000
10. 2017-12-18
    status Pending Sale

    Show marketing remark (439 chars)

    Great investment opportunity-this 3 unit is almost 2700 sq. ft. which includes 2 units with 2 bedrooms each. Both units have been recently updated-large living rooms and bedrooms. 3rd unit is a 1 bedroom studio apartment. Building has updated furnace and AC unit. New windows recently installed. Property has a 2.5 car detached garage. 2 driveways, large lot-165 x 200. Owner can occupy this property or use as an investment opportunity.

11. 2017-11-02
    price $199,900

    Show marketing remark (439 chars)

    Great investment opportunity-this 3 unit is almost 2700 sq. ft. which includes 2 units with 2 bedrooms each. Both units have been recently updated-large living rooms and bedrooms. 3rd unit is a 1 bedroom studio apartment. Building has updated furnace and AC unit. New windows recently installed. Property has a 2.5 car detached garage. 2 driveways, large lot-165 x 200. Owner can occupy this property or use as an investment opportunity.

12. 2017-10-10
    listed $224,900 Active

    Show marketing remark (439 chars)

    Great investment opportunity-this 3 unit is almost 2700 sq. ft. which includes 2 units with 2 bedrooms each. Both units have been recently updated-large living rooms and bedrooms. 3rd unit is a 1 bedroom studio apartment. Building has updated furnace and AC unit. New windows recently installed. Property has a 2.5 car detached garage. 2 driveways, large lot-165 x 200. Owner can occupy this property or use as an investment opportunity.

13. 2005-03-18
    soldstatus $100,000

ⓘ 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: $5,922 · $493/mo
• Projected year-2 tax: $5,922 · $493/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 ≥91°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,684
• − Mortgage interest: −$18,205
• − Property taxes: −$5,922
• − Insurance: −$1,625
• − Repairs & maintenance: −$4,135
• − Management: −$4,135
• − Depreciation: −$9,455
• Taxable income: $8,208
• Est. tax owed @ 24.0%: −$1,970
• After-tax cash flow: $10,862/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: Frontier Central School District
• NCES district ID: 3611670
• Math proficiency: 54% ▼ -16.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $58,807
• Composite: 47.36/100
• National rank: #2291
• State rank: #301 of 590 in NY

Livability — Wanakah

• Score: 69/100
• State rank: #508
• US rank: #8972

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Erie County · 714,559 people
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 44,520
• Household income: $83,383
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 824.0

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 (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Romanian 20% Lithuanian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 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: ▼ -261.10%
• Current HPI: 300.2852
• Rent YoY: ▲ 5.21%
• 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

+225.0% since first listed

13 events — show timeline

• 2026-05-15 Pending — WNYREIS
• 2026-05-08 Contingent — WNYREIS
• 2026-04-29 Listed $325,000 WNYREIS
• 2026-03-30 Pending — WNYREIS
• 2026-03-25 Contingent — WNYREIS
• 2026-03-24 Listing Removed — WNYREIS
• 2026-03-17 Listed $319,900 WNYREIS
• 2018-03-14 Sold (MLS) $184,000 WNYREIS
• 2018-03-05 Sold (Public Records) $184,000 Public Records
• 2017-12-18 Pending — WNYREIS
• 2017-11-02 Price Changed $199,900 WNYREIS
• 2017-10-10 Listed $224,900 WNYREIS
• 2005-03-18 Sold (Public Records) $100,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $5,922 · +9.2% YoY. Source: county tax records.