37 Tammy Ln. Plan

Cheektowaga, NY 14225

$109,995B-

2 bd · 1.0 ba · 728 sqft · Built — · Manufactured · Active · 119 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,362/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$183
• HOA: −$0
• Vac / Maint / Mgmt: −$286
• Net cashflow: $316/mo
• Annual: $3,792/yr
• Cap rate: 9.74%
• Cash-on-cash: 12.31%
• DSCR: 1.55
• 1% rule: 1.24%
• Cash to close: $30,799

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $110k. Condition is rated excellent.
• At list price, monthly cash flow is $316 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• It's been on market 119 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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-.
• Lancaster Central School District (suburban): math 57% / reading 61% proficiency, ranked #234 of 590 in NY (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Lancaster High School (math 97% / reading 92%, grade A+, #117 of 1,100 statewide, top 11%, 1,652 students, 24% FRL).
• Zoned-school proficiency averages 94% at this address vs 59% district-wide (+36 pts) — the actual schools serving this property are materially stronger than the Lancaster Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 209 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 9.7% 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.

Questions for listing agent

• It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.