47 Stoneledge · Harris Hill, NY 14221

$234,900

2 bd · 1.0 ba · 1,146 sqft · Condo public records · 69 Days on market

Built 1972 $300/mo HOA · 14% of rent

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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 +10.1/30.0
• ARV discount +7.5/15.0
• Schools +6.3/10.0
• 1% rule +4.1/10.0
• Rent growth +3.8/5.0
• Livability +3.6/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

One of the most affordable Townhouses in Williamsville with 2 bedrooms, 1.5 baths. Also, this Association has Condominium Status resulting in LOW taxes! This is like having your own house without doing the outside work! The Condo Association takes care of ALL the exterior maintenance including lawn cutting, plowing driveways and shoveling to your front door, also Water & Basic Cable are included! This unit includes All kitchen Appliances. The Private Basement/Rec Room has hook-ups for your own washer and dryer. Additionally, there is a door going from the basement/Rec-Room to your private, attached, 1.5 Car garage! Another added feature is that you have your own private balcony off th

Key facts

• Guest parking
• Private basement
• Exterior maintenance

Tags

• LOW TAXES
• EXTERIOR MAINTENANCE
• PRIVATE BASEMENT
• PRIVATE BALCONY
• NEW TOWN PARK
• GUEST PARKING

Property features AI

Finance

• Financial info: Pets negotiable
• HOA & community: Monthly association (Andruschat) with $300 fee covering common area maintenance, insurance, structure maintenance, reserve fund, sewer, snow removal, trash, and water

Exterior

• Parking: Attached garage with one garage space; Open parking available; Garage door opener
• Utilities: Cable available; High-speed internet available; Electricity available and connected (circuit breakers); Public water connected; Sewer connected
• Home design: Two-story residence; Resale property
• Construction: Brick and frame construction with vinyl siding; Copper plumbing; Full walk-out basement
• Exterior features: Balcony; Near public transit; Rectangular lot; Private road frontage

Interior

• Kitchen: Dishwasher; Free-standing range; Gas oven and gas range; Microwave; Oven; Refrigerator
• Flooring: Carpet; Laminate; Tile; Vinyl; Varied flooring
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Entrance foyer; Eat-in kitchen; Separate/formal living room; Great room; Combined living and dining area
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $235k.

Deal economics

• At list price, monthly cash flow is $-136 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $211k (10.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $214k (8.9% below list).
• Recommended offer: $211k (10.2% below list) — sets the bar for cash-flow.
• Cap rate 5.6% vs local median 2.6% in Harris Hill — 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 72/100 on livability (#345 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A-; Watch: amenities F, commute F, cost of living F.
• Williamsville Central School District (suburban): math 64% / reading 77% proficiency, ranked #114 of 590 in NY (top 19%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+5.0%/yr); 329 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($221k) is reasonable based on typical stale-listing flexibility.

Recommended offer $210,903 (10.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.91% ✗
• Cap rate: 5.60%
• Cash-on-cash: -2.48%
• DSCR: 0.89
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.01% rent growth · sell at horizon

5-year hold

• IRR: -17.8%
• Equity multiple: 0.36×
• Total profit: $-42,145
• Equity at exit: $35,024

10-year hold

• IRR: -6.1%
• Equity multiple: 0.57×
• Total profit: $-28,330
• Equity at exit: $20,310

Cash invested: $65,772 (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 14221

• Rents YoY: 5.0%
• Active inventory: 329
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,140 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$196 /mo · $2,357/yr
• Insurance: −$98
• HOA: −$300
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $-136

Break-even live

Break-even rent $2,312

Max offer price $210,903

Occupancy floor —

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: $58,725
• Closing costs: $7,047
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
160 Glendon Pl Williamsville, NY	2.0	2.5	1470	$2,310	$1.57	2d	1	0.45mi
23 Northwood Dr Buffalo, NY	1.0–2.0	1.0–2.0	800	$2,145	$2.68	1d	1	0.56mi
6842 Main St Unit 1 Bedroom Application Williamsville, NY	1.0	1.0	708	$1,750	$2.47	1d	1	1.01mi
6842 Main St Unit 3 Bedroom Application Williamsville, NY	3.0	2.0	1389	$2,495	$1.80	1d	1	1.01mi
6842 Main St Unit 2 Bedroom Application Williamsville, NY	2.0	2.0	1100	$2,299	$2.09	1d	1	1.01mi
10 Arielle Ct Williamsville, NY	1.0–3.0	1.0–2.0	1063	$2,235	$2.10	1d	10	1.29mi
49 S Youngs Rd Buffalo, NY	3.0	1.0	1400	$1,795	$1.28	23d	1	1.35mi
25 Spring Meadow Dr Buffalo, NY	1.0–2.0	1.0–2.0	1087	$2,555	$2.35	1d	14	1.40mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Likely covers: watercableexterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-05-01
   status Pending
2. 2026-02-22
   listed $234,900 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: $2,357 · $196/mo
• Projected year-2 tax: $3,164 · $264/mo
• Expected delta: +$806/yr (+$67/mo · 34.2%)

ⓘ 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,676
• − Mortgage interest: −$13,158
• − Property taxes: −$2,357
• − Insurance: −$1,174
• − Repairs & maintenance: −$2,054
• − Management: −$2,054
• − HOA: −$3,600
• − Depreciation: −$6,833
• Taxable loss: −$5,556
• Est. tax savings @ 24.0%: +$1,333
• After-tax cash flow: $-297/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: Williamsville Central School District
• NCES district ID: 3631470
• Math proficiency: 64% ▼ -14.00%
• Reading proficiency: 77% ▲ 6.00%
• Median HH income: $79,907
• Composite: 62.59/100
• National rank: #678
• State rank: #114 of 590 in NY

Livability — Harris Hill

• Score: 72/100
• State rank: #345
• US rank: #5816

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Erie County · 714,559 people
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 55,255
• Household income: $101,615
• Rent vs Own: 25.0% rent · 75.0% own
• Severe rent burden: 1956.0

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 (84%)
• Race & ethnicity: White 84% Asian 8% Two or more races 4% Hispanic / Latino 3% Black 2%
• Common ancestry: Romanian 15% Lithuanian 2% Slovak 2%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 88% English-only · Other Indo-European 3% Other Asian/Pacific 2% Spanish 2%

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: ▼ -301.37%
• Current HPI: 322.6947
• Rent YoY: ▲ 5.01%
• 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

2 events — show timeline

• 2026-05-01 Pending — UNYREIS
• 2026-02-22 Listed $234,900 UNYREIS

Property tax history

+5.4%/yr

Latest (2025): $2,357 · +1.7% YoY. Source: county tax records.