41 Pendennis Pl · Cheektowaga, NY 14225

$214,000

4 bd · 2.0 ba · 1,958 sqft · MultiFamily public records · 4 Days on market

Built 1927 4,792 sqft lot $109/sqft · 38% below area Est $347k · 38% 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 +25.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +7.9/10.0
• 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

Welcome to 41 Pendennis in the heart of Buffalo—a well-maintained duplex offering both immediate income and future upside. This property features two separate units, making it ideal for investors or owner-occupants looking to offset their mortgage. The lower unit is ready for occupancy or rental, while the upper unit is currently leased on a month-to-month basis, providing valuable flexibility for the next owner—whether you choose to increase rents to market value or occupy the space yourself. Inside, each unit offers comfortable living areas, functional layouts, and classic Buffalo charm. Outside, the property includes a detached two-car garage, a highly desirable feature that

Key facts

• Manageable yard
• Two separate units
• 4,792 sq ft lot

Tags

• TWO SEPARATE UNITS
• DETACHED TWO-CAR GARAGE
• MANAGEABLE YARD
• EASY ACCESS TO DELAWARE PARK

Property features AI

Finance

• Financial info: Two separate electric meters; Two separate gas meters; Operating expense details: see remarks; Owner pays: water (see remarks); Rent includes: water (see remarks)

Exterior

• Parking: Attached garage with two spaces; Additional parking with two or more spaces
• Utilities: Electricity connected (circuit breakers); Public water connected; Sewer connected
• Home design: Two-story building; Resale property; Rectangular residential lot; City street frontage
• Construction: Block foundation; Block and concrete construction; Architectural shingle roof
• Exterior features: Balcony; Partial fencing; Fence

Interior

• Bedrooms: Two-unit property (units total: 2)
• Flooring: Vinyl; Varies
• Bathrooms: Two full bathrooms
• Heating & cooling: Gas-fired forced air heating
• Interior features: Full basement with sump pump; Varied flooring including vinyl
• Laundry & utility: Washer hookup; Gas water heater

🏷️ Possibly a rental listed for sale. The $214,000 price doesn't fit this home's estimated sale value (~$347,496) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $214k.

Deal economics

• At list price, monthly cash flow is $513 ($6k/yr) — positive. Per door: $256/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $214k).
• Cap rate 9.2% 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.
• Zoned schools: Union East Elementary School (math 19% / reading 36%, grade F, #1,777 of 2,108 statewide, top 84%, 895 students, 65% FRL); Cheektowaga Middle School (math 10% / reading 36%, grade F, #646 of 729 statewide, top 89%, 627 students, 68% FRL); Cheektowaga High School (math 92% / reading 70%, grade A, #495 of 1,100 statewide, top 46%, 705 students, 68% FRL) — zoned schools average 67% FRL vs 51% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 209 active listings in the ZIP; 5 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 $2,758/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 $6k of value loss. Plan a longer hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $78k; list at $214k implies a 175% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $214,000

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 1927 — 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: 1.29% ✓
• Cap rate: 9.17%
• Cash-on-cash: 10.27%
• DSCR: 1.46
• GRM: 6.5

CMA / ARV

• ARV (median comp): $347,496
• List price: $214,000
• Delta: -38.42%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35 Loxley Rd	0.06mi	5/2.0 (+1)	1,943 (-1%)	1mo	$175,000	$90	90
18 Rowland Ave	0.21mi	4/2.0	1,990 (+2%)	14mo	$199,000	$100	76
2581 Genesee St	0.09mi	5/2.0 (+1)	2,107 (+8%)	11mo	$255,000	$121	69
27 E End Ave	0.57mi	4/2.0	1,974 (+1%)	9mo	$175,000	$89	64
139 Peach Tree Rd	0.11mi	4/2.0	1,691 (-14%)	10mo	$225,000	$133	63
68 Marne Rd	0.61mi	4/2.0	1,906 (-3%)	8mo	$165,000	$87	61
63 Wright Ave	0.67mi	4/2.0	1,842 (-6%)	2mo	$120,000	$65	58
76 Preston Rd	0.53mi	5/2.0 (+1)	2,094 (+7%)	4mo	$160,000	$76	55
144 Ivanhoe Rd	0.69mi	5/2.0 (+1)	2,030 (+4%)	6mo	$210,000	$103	52
122 Preston Rd	0.58mi	4/2.0	1,764 (-10%)	11mo	$202,000	$115	47
129 Woodell Ave	0.68mi	4/2.0	1,748 (-11%)	8mo	$192,500	$110	43
2365 Genesee St	0.40mi	3/1.5 (-1)	2,240 (+14%)	10mo	$205,000	$92	42

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: -0.8%
• Equity multiple: 0.97×
• Total profit: $-1,873
• Equity at exit: $31,908

10-year hold

• IRR: 8.9%
• Equity multiple: 1.68×
• Total profit: $41,045
• Equity at exit: $18,503

Cash invested: $59,920 (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: 209
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $2,758 high
• Mortgage (P&I): −$1,122
• Tax from tax record: −$455 /mo · $5,458/yr
• Insurance: −$89
• HOA: −$0
• Vacancy / Maint / Mgmt: −$579
• Net cashflow: $513

Break-even live

Break-even rent $2,109

Max offer price $214,000

Occupancy floor 76%

Sensitivity live

Price	-10% $634	-5% $573	+0% $513	+5% $452	+10% $391
Rent	-10% $295	-5% $404	+0% $513	+5% $622	+10% $730
Rate	-1.0pp $620	-0.5pp $567	base $513	+0.5pp $457	+1.0pp $401

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,758
Total (2 units)			$2,758

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: $53,500
• Closing costs: $6,420
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
47 Awood Pl Buffalo, NY	3.0	1.0	1840	$1,500	$0.82	3d	1	0.73mi
65 Domedion Ave Buffalo, NY	3.0	1.0	1632	$1,500	$0.92	3d	1	0.75mi
1202 Walden Ave Unit 3 Buffalo, NY	3.0	1.0	1500	$1,400	$0.93	19d	1	0.88mi
979 Walden Ave Buffalo, NY	4.0	3.0	1793	$2,000	$1.12	3d	1	1.10mi
96 Academy Rd Buffalo, NY	3.0	1.0	2247	$1,400	$0.62	25d	1	1.21mi

Listing history 3 events

1. 2026-05-04
   status Pending 1017-char remark
2. 2026-04-30
   listed $214,000 Active 1017-char remark
3. 2006-05-18
   soldstatus $77,900

ⓘ 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: $5,458 · $455/mo
• Projected year-2 tax: $5,458 · $455/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 4/10 Moderate FEMA zone X (shaded) · 22% 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: $33,096
• − Mortgage interest: −$11,987
• − Property taxes: −$5,458
• − Insurance: −$1,070
• − Repairs & maintenance: −$2,648
• − Management: −$2,648
• − Depreciation: −$6,225
• Taxable income: $3,060
• Est. tax owed @ 24.0%: −$734
• After-tax cash flow: $5,417/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

+174.7% since first listed

3 events — show timeline

• 2026-05-04 Pending — WNYREIS
• 2026-04-30 Listed $214,000 WNYREIS
• 2006-05-18 Sold (Public Records) $77,900 Public Records

Property tax history

+4.4%/yr

Latest (2025): $5,458 · +17.6% YoY. Source: county tax records.