21 Montfort Dr · Cheektowaga, NY 14225

$215,000

4 bd · 2.0 ba · 1,504 sqft · MultiFamily public records · 7 Days on market

Built 1949 6,098 sqft lot Est $211k · at est.

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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 +29.2/30.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +6.6/15.0
• Schools +5.9/10.0
• Livability +4.2/5.0
• Rent growth +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 MLS

Experience the value of ownership and let your money work for you with this 2-story, 2-unit duplex. Long term tenants currently renting and would like to stay. One tenant has been there 17 years and the other has been there 6 years. Each unit features 2-bedrooms and one bath and it’s only a short drive to Walden Galleria mall. In each unit you’ll enjoy a casual yet bright living room, sunny kitchen, partially fenced back yard, and a shed.

Key facts

• New siding
• Quick access to i-90
• Storage shed

Tags

• NEW SIDING
• PARTIALLY FENCED BACKYARD
• STORAGE SHED
• BRIGHT LIVING ROOM
• SPACIOUS EAT IN KITCHEN
• QUICK ACCESS TO I-90

Property features AI

Finance

• Other: Multi-unit building with 2 total units; Two separate gas meters and two separate electric meters; Operating expense details: See remarks
• Financial info: Owner pays water (water included in rent)

Exterior

• Parking: Attached or detached 2-car garage; Paved parking
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: Two-story building
• Construction: Vinyl siding; Poured foundation; Existing (previously built) structure
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 50 x 122 (0.14 acres)

Interior

• Kitchen: Gas water heater
• Bedrooms: 2-unit property (unit count listed under Multi Unit Information)
• Flooring: Carpet; Ceramic tile; Hardwood; Laminate; Varied flooring across units
• Bathrooms: 2 full bathrooms (total)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement
• Laundry & utility: Separate gas and electric meters for each unit

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $748 ($9k/yr) — positive. Per door: $374/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Cap rate 10.5% vs local median 3.8% in Cheektowaga — 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 84/100 on livability (#54 in NY, #811 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: crime C-.
• Cheektowaga-Maryvale Union Free School District (urban): math 67% / reading 73% proficiency, ranked #154 of 590 in NY (top 26%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 207 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,059/mo this rent would consume 55% of the median local household income ($67k/yr) (locally 991% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $60k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 25y 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 $90k; list at $215k implies a 139% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $215,000

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 1949 — 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. 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?
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 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: 1.42% ✓
• Cap rate: 10.47%
• Cash-on-cash: 14.92%
• DSCR: 1.66
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $210,560
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4613 Union Rd	0.41mi	4/2.0	1,612 (+7%)	9mo	$200,000	$124	61
620 Beach Rd	0.73mi	4/2.0	1,600 (+6%)	14mo	$224,000	$140	43

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.5%
• Equity multiple: 1.22×
• Total profit: $12,982
• Equity at exit: $32,057

10-year hold

• IRR: 15.0%
• Equity multiple: 2.22×
• Total profit: $73,321
• Equity at exit: $18,589

Cash invested: $60,200 (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 14225

• Home prices YoY: -27.3%
• Active inventory: 207
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $3,059 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$451 /mo · $5,414/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$642
• Net cashflow: $748

Break-even live

Break-even rent $2,112

Max offer price $215,000

Occupancy floor 71%

Sensitivity live

Price	-10% $870	-5% $809	+0% $748	+5% $687	+10% $627
Rent	-10% $507	-5% $628	+0% $748	+5% $869	+10% $990
Rate	-1.0pp $857	-0.5pp $803	base $748	+0.5pp $693	+1.0pp $636

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,060
Total (2 units)			$3,059

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
512 Cayuga Rd Buffalo, NY	3.0	1.0	1944	$1,795	$0.92	2d	1	0.36mi
758 S Huth Rd Buffalo, NY	5.0	2.0	2235	$2,800	$1.25	44d	1	0.44mi
239 Lehn Springs Dr Buffalo, NY	3.0	1.0	1700	$3,200	$1.88	3d	1	0.83mi

Listing history 7 events

1. 2026-06-18
   days on market $215,000 Active 7 DOM
2. 2026-06-17
   remarks 610-char remark
3. 2026-06-17
   days on market $215,000 Active 6 DOM
4. 2026-06-16
   days on market $215,000 Active 5 DOM
5. 2026-06-15
   days on market $215,000 Active 4 DOM
6. 2026-06-13
   remarks 556-char remark
7. 2026-06-13
   listed $215,000 Active 2 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: $5,414 · $451/mo
• Projected year-2 tax: $5,414 · $451/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 2/10 Low 7 d/yr ≥92°F today · 15 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: $36,708
• − Mortgage interest: −$12,043
• − Property taxes: −$5,414
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,937
• − Management: −$2,937
• − Depreciation: −$6,255
• Taxable income: $6,047
• Est. tax owed @ 24.0%: −$1,451
• After-tax cash flow: $7,529/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: Cheektowaga-Maryvale Union Free School District
• NCES district ID: 3618600
• Math proficiency: 67% ▲ 11.00%
• Reading proficiency: 73% ▲ 23.00%
• Median HH income: $46,537
• Composite: 59.02/100
• National rank: #960
• State rank: #154 of 590 in NY

Livability — Cheektowaga

• Score: 84/100
• State rank: #54
• US rank: #811

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cheektowaga, NY
• County: Erie County · 714,559 people
• City population: 55,470
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 33,620
• Household income: $67,237
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 991.0

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 (74%)
• Race & ethnicity: White 74% Black 13% Two or more races 7% Hispanic / Latino 4% Asian 3%
• Common ancestry: Romanian 21% Lithuanian 3% Iranian 1%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 92% English-only · Other Indo-European 2% Spanish 2% Arabic 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: ▼ -120.26%
• Current HPI: 320.6248
• Rent YoY: —
• 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

+194.9% since first listed

7 events — show timeline

• 2026-06-10 Listed $215,000 WNYREIS
• 2017-09-05 Sold (Public Records) $89,900 Public Records
• 2017-08-13 Sold (MLS) $89,900 WNYREIS
• 2017-07-21 Pending — WNYREIS
• 2017-07-10 Listed $89,900 WNYREIS
• 2001-07-20 Sold (MLS) $69,000 WNYREIS
• 2001-04-13 Listed $72,900 WNYREIS

Property tax history

+3.8%/yr

Latest (2025): $5,414 · +2.2% YoY. Source: county tax records.