35 Loxley Rd · Cheektowaga, NY 14225

$179,900

4 bd · 2.0 ba · 1,943 sqft · MultiFamily public records · 7 Days on market

Built 1930 4,356 sqft lot Est $200k · 10% under

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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 +30.0/30.0
• ARV discount +12.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.2/5.0
• Schools +2.8/10.0
• 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

Spacious vinyl sided 2 family home. Lower features 3 bedrooms and 1 full bath with hardwood floors and natural woodwork throughout. Upper features 2 bedrooms and 1 full bath. New upper furnace in 2020, New hot water tanks 2017, Full basement. Long driveway for off street parking and storage shed in back yard. Offers delayed until Monday 3/23/2026 at 11 am

Key facts

• 4,356 sq ft lot
• 2 parking spots
• Built 1930

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $721 ($9k/yr) — positive. Per door: $360/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Cap rate 11.1% 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 Central School District (urban): math 30% / reading 37% proficiency, ranked #564 of 590 in NY (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 207 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,737/mo this rent would consume 49% 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 $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $179,900

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 1930 — 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: 1.52% ✓
• Cap rate: 11.10%
• Cash-on-cash: 17.17%
• DSCR: 1.76
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $200,129
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35 Loxley Rd	0.00mi	5/2.0 (+1)	1,943 (0%)	1mo	$175,000	$90	94
18 Rowland Ave	0.15mi	4/2.0	1,990 (+2%)	14mo	$199,000	$100	78
27 E End Ave	0.51mi	4/2.0	1,974 (+2%)	9mo	$175,000	$89	66
2581 Genesee St	0.14mi	5/2.0 (+1)	2,107 (+8%)	11mo	$255,000	$121	65
139 Peach Tree Rd	0.10mi	4/2.0	1,691 (-13%)	10mo	$225,000	$133	65
68 Marne Rd	0.57mi	4/2.0	1,906 (-2%)	8mo	$165,000	$87	63
63 Wright Ave	0.62mi	4/2.0	1,842 (-5%)	2mo	$120,000	$65	61
76 Preston Rd	0.49mi	5/2.0 (+1)	2,094 (+8%)	4mo	$160,000	$76	56
144 Ivanhoe Rd	0.65mi	5/2.0 (+1)	2,030 (+4%)	6mo	$210,000	$103	52
122 Preston Rd	0.55mi	4/2.0	1,764 (-9%)	11mo	$202,000	$115	50
62 Wanda Ave	0.75mi	5/3.0 (+1)	1,868 (-4%)	1mo	$200,000	$107	48
129 Woodell Ave	0.65mi	4/2.0	1,748 (-10%)	8mo	$192,500	$110	46

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: 8.5%
• Equity multiple: 1.34×
• Total profit: $16,908
• Equity at exit: $26,824

10-year hold

• IRR: 17.8%
• Equity multiple: 2.48×
• Total profit: $74,485
• Equity at exit: $15,554

Cash invested: $50,372 (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 14225

• Home prices YoY: -27.3%
• Active inventory: 207
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,737 high
• Mortgage (P&I): −$943
• Tax from tax record: −$423 /mo · $5,079/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$575
• Net cashflow: $721

Break-even live

Break-even rent $1,825

Max offer price $179,900

Occupancy floor 69%

Sensitivity live

Price	-10% $822	-5% $772	+0% $721	+5% $670	+10% $619
Rent	-10% $504	-5% $613	+0% $721	+5% $829	+10% $937
Rate	-1.0pp $811	-0.5pp $766	base $721	+0.5pp $674	+1.0pp $627

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,738
Total (2 units)			$2,737

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
65 Domedion Ave Buffalo, NY	3.0	1.0	1632	$1,500	$0.92	2d	1	0.71mi
47 Awood Pl Buffalo, NY	3.0	1.0	1840	$1,500	$0.82	2d	1	0.78mi
1202 Walden Ave Unit 3 Buffalo, NY	3.0	1.0	1500	$1,400	$0.93	17d	1	0.87mi
979 Walden Ave Buffalo, NY	4.0	3.0	1793	$2,000	$1.12	2d	1	1.07mi
96 Academy Rd Buffalo, NY	3.0	1.0	2247	$1,400	$0.62	24d	1	1.17mi

Listing history 2 events

1. 2026-03-23
   status Pending
2. 2026-03-16
   listed $179,900 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: $5,079 · $423/mo
• Projected year-2 tax: $5,079 · $423/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 5/10 Major FEMA zone X (shaded) · 67% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°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: $32,844
• − Mortgage interest: −$10,077
• − Property taxes: −$5,079
• − Insurance: −$900
• − Repairs & maintenance: −$2,628
• − Management: −$2,628
• − Depreciation: −$5,233
• Taxable income: $6,300
• Est. tax owed @ 24.0%: −$1,512
• After-tax cash flow: $7,135/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 Central School District
• NCES district ID: 3607230
• Math proficiency: 30% ▼ -7.00%
• Reading proficiency: 37% ▲ 1.00%
• Median HH income: $43,401
• Composite: 28.45/100
• National rank: #6753
• State rank: #564 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

2 events — show timeline

• 2026-03-23 Pending — WNYREIS
• 2026-03-16 Listed $179,900 WNYREIS

Property tax history

+4.5%/yr

Latest (2025): $5,079 · +16.0% YoY. Source: county tax records.