1874 Hess Rd · Newfane, NY 14008

$314,900

4 bd · 2.0 ba · 2,812 sqft · MultiFamily public records · 9 Days on market

Built 1890 0.36 ac lot

---

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 +25.9/30.0
• DSCR +8.7/10.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Schools +5.3/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

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

The property is occupied so all potential buyers are asked to check with city and tax records to determine actual bedroom, bathroom counts and all details on this property listed above to their satisfaction. This is an AS-IS sold property. Do not disturb occupants or walk on property. * * * Seller makes no guarantees about property’s condition * * *

Key facts

• Updated throughout
• Parking areas
• Individual driveway

Tags

• UPDATED THROUGHOUT
• INDIVIDUAL DRIVEWAY
• PARKING AREAS
• NEW GAS FURNACES
• 6 CAR GARAGE
• WORKSHOP

Property features AI

Finance

• Other: Operating expense details: see remarks
• Financial info: Property configured as a 2-unit multi-family; Separate gas meters: 2; Separate electric meters: 1; Unit rents: $1,600 and $1,800 (actual rents listed); Owner pays electricity (rent includes electricity)

Exterior

• Parking: Detached 2-car garage; Paved parking with two or more spaces
• Utilities: Public water connected; Septic tank sewer; Circuit breaker electrical service
• Home design: Two-story building; Resale property
• Construction: Vinyl siding; Copper plumbing; Asphalt roof; Built (existing)
• Exterior features: Patio; Rectangular lot

Interior

• Kitchen: Each unit includes an eat-in kitchen; Dishwasher; Oven/Range; Refrigerator
• Bedrooms: Two 2-bedroom units (each unit has 2 bedrooms)
• Flooring: Hardwood; Ceramic tile; Varies
• Bathrooms: Each unit has one full bathroom (2 full bathrooms total)
• Heating & cooling: Oil-fired heating; Forced air heating
• Interior features: Natural woodwork; See remarks
• Laundry & utility: Washer and dryer in each unit; Oil water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $315k.

Deal economics

• At list price, monthly cash flow is $774 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $315k).

Location & tenants

• Location reads 66/100 on livability (#640 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment C-, amenities F, commute F.
• Barker Central School District (rural): math 60% / reading 65% proficiency, ranked #204 of 590 in NY (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 6 active listings in the ZIP; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($2k loan paydown + $16k appreciation (5.1% local appreciation)).
• Niagara County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.1% appreciation + 3.0% rent growth), your $88k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 5y 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 $110k; list at $315k implies a 187% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $314,900

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.21% ✓
• Cap rate: 9.24%
• Cash-on-cash: 10.53%
• DSCR: 1.47
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.12% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.2%
• Equity multiple: 2.41×
• Total profit: $124,189
• Equity at exit: $180,804

10-year hold

• IRR: 21.7%
• Equity multiple: 4.77×
• Total profit: $332,026
• Equity at exit: $314,006

Cash invested: $88,172 (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 14008

• Home prices YoY: 1.8%
• Active inventory: 6
• Price-to-rent: 23.1×

Monthly cashflow live

• Estimated rent: $3,815 medium
• Mortgage (P&I): −$1,651
• Tax from tax record: −$457 /mo · $5,487/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$801
• Net cashflow: $774

Break-even live

Break-even rent $2,835

Max offer price $314,900

Occupancy floor 75%

Sensitivity live

Price	-10% $952	-5% $863	+0% $774	+5% $685	+10% $596
Rent	-10% $473	-5% $623	+0% $774	+5% $925	+10% $1,075
Rate	-1.0pp $933	-0.5pp $854	base $774	+0.5pp $692	+1.0pp $609

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

Units	Beds	Baths	Est. rent
1× unit	4	2	$1,136
▸ 3× units	2	1	$2,679
Total (4 units)			$3,815

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: $78,725
• Closing costs: $9,447
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $314,900 Active 9 DOM
2. 2026-06-17
   days on market $314,900 Active 8 DOM
3. 2026-06-16
   days on market $314,900 Active 7 DOM
4. 2026-06-15
   days on market $314,900 Active 6 DOM
5. 2026-06-13
   days on market $314,900 Active 4 DOM
6. 2026-06-10
   remarks 561-char remark
7. 2026-06-10
   listed $314,900 Active 1 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: $5,487 · $457/mo
• Projected year-2 tax: $5,487 · $457/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 ≥94°F today · 15 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: $45,780
• − Mortgage interest: −$17,639
• − Property taxes: −$5,487
• − Insurance: −$1,574
• − Repairs & maintenance: −$3,662
• − Management: −$3,662
• − Depreciation: −$9,161
• Taxable income: $4,594
• Est. tax owed @ 24.0%: −$1,103
• After-tax cash flow: $8,186/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: Barker Central School District
• NCES district ID: 3603960
• Math proficiency: 60% ▼ -10.00%
• Reading proficiency: 65% ▲ 6.00%
• Median HH income: $53,339
• Composite: 53.45/100
• National rank: #1463
• State rank: #204 of 590 in NY

Livability — Newfane

• Score: 66/100
• State rank: #640
• US rank: #11907

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,484

Population outlook (Niagara County) Hauer SSP2

• Today (2025): 204,149 people
• By 2030: 197,900 · -3.1%
• By 2040: 182,239 · -10.7%
• By 2050: 165,198 · -19.1%
• By 2075: 129,416 · -36.6%
• By 2100: 96,222 · -52.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 10% Hispanic / Latino 6% Black 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 7% Lithuanian 4% Serbian 3%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 8%

Political lean MEDSL · Niagara

• 2024 margin: R (+14.9) · D 42.5% · R 57.5%
• 2008→2024 swing: -15.9pp toward R · 2008: 1.0pp · 2024: -14.9pp
• All cycles: 2024: R+14.9 2020: R+9.7 2016: R+19.0 2012: D+0.6 2008: D+1.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.12%
• Current HPI: 285.8695
• 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

+142.6% since first listed

10 events — show timeline

• 2026-06-09 Listed $314,900 WNYREIS
• 2022-05-13 Pending — WNYREIS
• 2022-05-05 Sold (MLS) $109,900 WNYREIS
• 2022-03-30 Listing Removed — WNYREIS
• 2022-02-02 Price Changed $109,900 WNYREIS
• 2021-12-31 Relisted — WNYREIS
• 2021-12-05 Pending — WNYREIS
• 2021-11-03 Price Changed $124,950 WNYREIS
• 2021-09-30 Listed $159,950 WNYREIS
• 2005-07-08 Sold (Public Records) $129,780 Public Records

Property tax history

+3.4%/yr

Latest (2025): $5,487 · +7.3% YoY. Source: county tax records.