733 Oakwood Ave · East Aurora, NY 14052

$349,000

4 bd · 2.0 ba · 1,087 sqft · MultiFamily public records · 12 Days on market

Built 1860 0.38 ac lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Schools +5.5/10.0
• Cash flow +4.7/30.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.4/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Great 3/1 double prime village location. Corner lot. . steps to Main Street. . Perennial gardens. . First floor has 3 bedrooms , living room and dining/breakfast room. . Newer metal roof. Upstairs unit has 1 bedroom, living room, kitchen Detached 2.5 car garage. 1 St floor apartment has access to basement and laundry. All separate utilities. Rents could be more than doubled. .

Key facts

• Pantry
• Storage room
• Spacious kitchen

Tags

• SPACIOUS KITCHEN
• IN UNIT WASHER AND DRYER
• CHARMING SECOND FLOOR UNIT
• PANTRY
• STORAGE ROOM
• PRIVATE HOME OFFICE

Property features AI

Finance

• Other: Zoned Residential 2 Unit
• Financial info: Tenant pays all utilities; Operating expense details: see remarks

Exterior

• Parking: Garage with approximately 2.5 spaces; Multiple off-street spaces; Garage door opener
• Utilities: Public water connected; Sewer connected; Cable and high-speed internet available; Circuit breaker electrical service
• Home design: Single-story building; Two-unit residential property; Existing structure
• Construction: Metal roof; Vinyl siding; Copper and PEX plumbing; Block and stone foundation; Built as existing (year built details: Existing)
• Exterior features: Partial fencing; Corner lot; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Dishwasher; Oven/Range; Refrigerator; Dining area in one unit
• Bedrooms: One 1-bedroom unit; One 3-bedroom unit
• Flooring: Carpet; Vinyl; Varied flooring
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Natural woodwork; Programmable thermostat
• Laundry & utility: Washer and dryer included in one unit; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $349k.

Deal economics

• At list price, monthly cash flow is $-868 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $196k (43.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (46.3% below list).
• Recommended offer: $187k (46.3% below list) — sets the bar for 1% rule.
• Cap rate 3.3% vs local median 1.8% in East Aurora — 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 82/100 on livability (#81 in NY, #1,241 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: cost of living C-, commute F.
• East Aurora Union Free School District (town): math 55% / reading 69% proficiency, ranked #189 of 590 in NY (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Parkdale Elementary School (math 62% / reading 80%, grade A-, #434 of 2,108 statewide, top 21%, 655 students, 12% FRL); East Aurora Middle School (math 27% / reading 59%, grade D-, #370 of 729 statewide, top 51%, 520 students, 14% FRL); East Aurora High School (math 98% / reading 82%, grade A+, #250 of 1,100 statewide, top 24%, 528 students, 13% FRL) — zoned schools at 13% FRL track the district average.
• Market conditions: 90 active listings in the ZIP; 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 $10k of value loss. Plan a longer hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $25k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; list at $349k implies a 133% 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 $187,372 (46.3% 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. Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. 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?
6. 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.
7. 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.
8. 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: 0.54% ✗
• Cap rate: 3.31%
• Cash-on-cash: -10.66%
• DSCR: 0.53
• GRM: 15.5

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: -35.6%
• Equity multiple: -0.14×
• Total profit: $-111,838
• Equity at exit: $52,037

10-year hold

• IRR: -48.2%
• Equity multiple: -0.73×
• Total profit: $-168,606
• Equity at exit: $30,175

Cash invested: $97,720 (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 14052

• Active inventory: 90
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $1,874 medium
• Mortgage (P&I): −$1,830
• Tax from tax record: −$372 /mo · $4,470/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $-868

Break-even live

Break-even rent $2,972

Max offer price $195,689

Occupancy floor —

Sensitivity live

Price	-10% $-670	-5% $-769	+0% $-868	+5% $-967	+10% $-1,065
Rent	-10% $-1,016	-5% $-942	+0% $-868	+5% $-794	+10% $-720
Rate	-1.0pp $-692	-0.5pp $-779	base $-868	+0.5pp $-958	+1.0pp $-1,050

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-03
   statusdays on market $349,000 Pending 12 DOM
2. 2026-06-02
   days on market $349,000 Active 11 DOM
3. 2026-06-02
   price $349,000 Active 10 DOM
4. 2026-06-01
   days on market $374,000 Active 10 DOM
5. 2026-05-31
   days on market $374,000 Active 9 DOM
6. 2026-05-22
   listed $374,000 Active
7. 2016-10-13
   soldstatus $150,000 Closed Sale or Rented 379-char remark

   Show marketing remark (379 chars)

   Great 3/1 double prime village location. Corner lot. . steps to Main Street. . Perennial gardens. . First floor has 3 bedrooms , living room and dining/breakfast room. . Newer metal roof. Upstairs unit has 1 bedroom, living room, kitchen Detached 2.5 car garage. 1 St floor apartment has access to basement and laundry. All separate utilities. Rents could be more than doubled. .

8. 2016-10-07
   soldstatus $150,000
9. 2016-09-02
   status Pending Sale 379-char remark

   Show marketing remark (379 chars)

   Great 3/1 double prime village location. Corner lot. . steps to Main Street. . Perennial gardens. . First floor has 3 bedrooms , living room and dining/breakfast room. . Newer metal roof. Upstairs unit has 1 bedroom, living room, kitchen Detached 2.5 car garage. 1 St floor apartment has access to basement and laundry. All separate utilities. Rents could be more than doubled. .

10. 2016-09-02
    historical

    Show marketing remark (379 chars)

    Great 3/1 double prime village location. Corner lot. . steps to Main Street. . Perennial gardens. . First floor has 3 bedrooms , living room and dining/breakfast room. . Newer metal roof. Upstairs unit has 1 bedroom, living room, kitchen Detached 2.5 car garage. 1 St floor apartment has access to basement and laundry. All separate utilities. Rents could be more than doubled. .

11. 2016-07-18
    price $154,500

    Show marketing remark (379 chars)

    Great 3/1 double prime village location. Corner lot. . steps to Main Street. . Perennial gardens. . First floor has 3 bedrooms , living room and dining/breakfast room. . Newer metal roof. Upstairs unit has 1 bedroom, living room, kitchen Detached 2.5 car garage. 1 St floor apartment has access to basement and laundry. All separate utilities. Rents could be more than doubled. .

12. 2016-07-18
    listed $154,500 Active 379-char remark

    Show marketing remark (379 chars)

    Great 3/1 double prime village location. Corner lot. . steps to Main Street. . Perennial gardens. . First floor has 3 bedrooms , living room and dining/breakfast room. . Newer metal roof. Upstairs unit has 1 bedroom, living room, kitchen Detached 2.5 car garage. 1 St floor apartment has access to basement and laundry. All separate utilities. Rents could be more than doubled. .

13. 2016-06-24
    listed $169,900 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: $4,470 · $372/mo
• Projected year-2 tax: $5,184 · $432/mo
• Expected delta: +$714/yr (+$60/mo · 16.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥90°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: $22,485
• − Mortgage interest: −$19,549
• − Property taxes: −$4,470
• − Insurance: −$1,745
• − Repairs & maintenance: −$1,799
• − Management: −$1,799
• − Depreciation: −$10,153
• Taxable loss: −$17,030
• Est. tax savings @ 24.0%: +$4,087
• After-tax cash flow: $-6,327/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: East Aurora Union Free School District
• NCES district ID: 3609540
• Math proficiency: 55% ▼ -15.00%
• Reading proficiency: 69% ▼ -1.00%
• Median HH income: $70,345
• Composite: 54.63/100
• National rank: #1334
• State rank: #189 of 590 in NY

Livability — East Aurora

• Score: 82/100
• State rank: #81
• US rank: #1241

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Aurora, NY
• Population (ZIP): 17,501

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 (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Romanian 13% Lithuanian 3% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Arabic 2% Spanish 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: ▼ -212.44%
• Current HPI: 327.8237
• 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

+120.1% since first listed

8 events — show timeline

• 2026-05-22 Listed $374,000 WNYREIS
• 2016-10-13 Sold (MLS) $150,000 WNYREIS
• 2016-10-07 Sold (Public Records) $150,000 Public Records
• 2016-09-02 Pending — WNYREIS
• 2016-09-02 Listing Removed — WNYREIS
• 2016-07-18 Price Changed $154,500 WNYREIS
• 2016-07-18 Listed $154,500 WNYREIS
• 2016-06-24 Listed $169,900 WNYREIS

Property tax history

+2.8%/yr

Latest (2025): $4,470 · +1.4% YoY. Source: county tax records.