2623 Hakanaw Ave · Wanakah, NY 14075

$99,900

4 bd · 1.0 ba · 1,536 sqft · SingleFamily public records · 4 Days on market

Built 1935 0.34 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Rent growth +3.8/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT LOCATION!! DIAMOND IN THE ROUGH! BRING YOUR IDEAS & OFFERS TO MAKE IT SHINE! BOILER '09, GARAGE ROOF '06, BATHROOM '02, HWT 1997.

Key facts

• First floor laundry
• Ceramic tile
• Oversized lot

Tags

• OVERSIZED LOT
• DURABLE VINYL PLANK FLOORING
• CERAMIC TILE
• FIRST FLOOR LAUNDRY
• DETACHED GARAGE
• KITCHEN APPLIANCES INCLUDED

Property features AI

Exterior

• Parking: Detached garage; 2-car garage
• Utilities: Public water connected; Sewer connected
• Home design: 2-story existing house
• Construction: Wood siding; Asphalt roof; Poured foundation; Resale condition
• Exterior features: Blacktop driveway; Near public transit; Rectangular residential lot; Road frontage on city street and right of way

Interior

• Kitchen: Gas oven; Gas range
• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Flooring: Hardwood; Tile; Vinyl; Mixed/varied flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas heating; Forced air; Radiator heating
• Interior features: Eat-in kitchen; Crawl space basement; Family room
• Laundry & utility: Main-level laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $613 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 13.7% vs local median 3.1% in Wanakah — 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 69/100 on livability (#508 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B+; Watch: amenities F, commute F, health & safety F.
• Frontier Central School District (suburban): math 54% / reading 55% proficiency, ranked #301 of 590 in NY (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+5.2%/yr); 264 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 16y 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 $52k; list at $100k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.6% of price; built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,900

Questions for the listing agent

1. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.98% ✓
• Cap rate: 13.65%
• Cash-on-cash: 26.28%
• DSCR: 2.17
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $324,096
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5467 Sterling Rd	0.17mi	3/2.0 (-1)	1,508 (-2%)	11mo	$305,000	$202	71
5517 Sterling Rd	0.25mi	3/2.5 (-1)	1,745 (+14%)	2mo	$410,617	$235	53
2823 Amsdell Rd	0.56mi	3/1.5 (-1)	1,566 (+2%)	12mo	$330,000	$211	53
2798 Amsdell Rd	0.49mi	3/1.0 (-1)	1,482 (-4%)	20mo	$322,000	$217	50
5176 Orchard Ave	0.43mi	3/2.0 (-1)	1,728 (+12%)	3mo	$327,000	$189	48
5084 Stewart Pkwy	0.73mi	4/2.0	1,508 (-2%)	14mo	$345,500	$229	47
2636 Hawthorne Ave	0.29mi	3/2.0 (-1)	1,322 (-14%)	17mo	$240,000	$182	40

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 · 5.21% rent growth · sell at horizon

5-year hold

• IRR: 23.1%
• Equity multiple: 1.98×
• Total profit: $27,503
• Equity at exit: $14,895

10-year hold

• IRR: 32.8%
• Equity multiple: 4.37×
• Total profit: $94,214
• Equity at exit: $8,638

Cash invested: $27,972 (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 14075

• Rents YoY: 5.2%
• Active inventory: 264
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,974 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$382 /mo · $4,579/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $613

Break-even live

Break-even rent $1,199

Max offer price $99,900

Occupancy floor 64%

Sensitivity live

Price	-10% $938	-5% $641	+0% $613	+5% $584	+10% $556
Rent	-10% $457	-5% $535	+0% $613	+5% $691	+10% $769
Rate	-1.0pp $663	-0.5pp $638	base $613	+0.5pp $587	+1.0pp $560

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5836 East Ln Lake View, NY	3.0	2.0	1300	$1,850	$1.42	45d	1	1.42mi

Listing history 3 events

1. 2026-06-21
   days on market $99,900 Active 4 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $99,900 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: $4,579 · $382/mo
• Projected year-2 tax: $4,579 · $382/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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥91°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: $23,691
• − Mortgage interest: −$5,596
• − Property taxes: −$4,579
• − Insurance: −$500
• − Repairs & maintenance: −$1,895
• − Management: −$1,895
• − Depreciation: −$2,906
• Taxable income: $6,320
• Est. tax owed @ 24.0%: −$1,517
• After-tax cash flow: $5,834/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: Frontier Central School District
• NCES district ID: 3611670
• Math proficiency: 54% ▼ -16.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $58,807
• Composite: 47.36/100
• National rank: #2291
• State rank: #301 of 590 in NY

Livability — Wanakah

• Score: 69/100
• State rank: #508
• US rank: #8972

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wanakah, NY
• County: Erie County · 714,559 people
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 44,520
• Household income: $83,383
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 824.0

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 (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Romanian 20% Lithuanian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 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: ▼ -261.10%
• Current HPI: 300.2852
• Rent YoY: ▲ 5.21%
• 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

+19.6% since first listed

5 events — show timeline

• 2026-06-17 Listed $99,900 WNYREIS
• 2010-11-23 Sold (Public Records) $52,000 Public Records
• 2010-11-21 Sold (MLS) $52,000 WNYREIS
• 2010-08-12 Listed $54,000 WNYREIS
• 1997-02-28 Sold (Public Records) $83,500 Public Records

Property tax history

+3.8%/yr

Latest (2025): $4,579 · +6.2% YoY. Source: county tax records.