185 Lochland Dr · Cheektowaga, NY 14225

$240,000

4 bd · 2.0 ba · 1,720 sqft · MultiFamily public records · 21 Days on market

Built 1952 6,098 sqft lot Est $253k · 5% under

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Why this score? — see what drove the C 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 +19.3/30.0
• ARV discount +9.8/15.0
• 1% rule +6.1/10.0
• DSCR +6.1/10.0
• Schools +5.9/10.0
• Livability +4.2/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Great location for this sharp 2 unit near thruway in Maryvale School district. The lower is perfect for owner occupy because of awesome vaulted ceiling living room w/ slider to deck, air conditioning, finished media room in basement and an extra bonus room! Have upstairs pay more that half of the mortgage! Shed can easily hold a car, replacement windows. 6 yrd old tear off roof. Rents listed are projected

Key facts

• Fully usable yard
• Cathedral ceilings
• Updated kitchen

Tags

• UPDATED KITCHEN
• BUTCHER BLOCK COUNTERS
• SUBWAY TILE BACKSPLASH
• CATHEDRAL CEILINGS
• FULLY USABLE YARD
• PARTIALLY FINISHED BASEMENT

Property features AI

Finance

• Financial info: Two total units; Separate electric meters for each unit (2); One shared gas meter; Operating expenses include utilities and water/sewer; Unit rents: one unit at $1,025; one unit at $1,100; one unit is month-to-month

Exterior

• Parking: Paved parking with two or more spaces
• Utilities: High-speed internet available; Public water connected; Sewer connected; Owner pays all utilities for rentals
• Home design: Two-story building; Existing/resale property
• Construction: Aluminum siding; Architectural shingle roof; Poured foundation; Built previously (existing structure)
• Exterior features: Deck; Partial fencing; Fence; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Oven/Range; Refrigerator
• Bedrooms: Two-bedroom units (both units are 2 BR)
• Flooring: Laminate flooring; Varied flooring in places
• Bathrooms: Each unit has 1 full bathroom (total of 2 full bathrooms in the building)
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Sliding glass doors
• Laundry & utility: In-unit washer and dryer in one unit; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $264 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $236k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.6% 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-Maryvale Union Free School District (urban): math 67% / reading 73% proficiency, ranked #154 of 590 in NY (top 26%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 207 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,667/mo this rent would consume 48% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y 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 $98k; list at $240k implies a 146% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $236,400 (1.5% below list)

Questions for the listing agent

1. Built in 1952 — 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: 1.11% ✓
• Cap rate: 7.61%
• Cash-on-cash: 4.71%
• DSCR: 1.21
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $252,840
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
620 Beach Rd	0.31mi	4/2.0	1,600 (-7%)	14mo	$224,000	$140	62
7 Matthew Ln	0.65mi	4/2.0	1,792 (+4%)	4mo	$250,000	$140	59
4613 Union Rd	0.68mi	4/2.0	1,612 (-6%)	9mo	$200,000	$124	51
24 Garden Rd	0.60mi	4/2.0	1,856 (+8%)	12mo	$273,000	$147	49
18 Doyle Ct	0.24mi	5/2.5 (+1)	1,926 (+12%)	16mo	$340,000	$177	48
1 Jean	0.61mi	4/2.0	1,798 (+4%)	22mo	$270,000	$150	46
17 Redwood Dr #15	0.69mi	5/2.0 (+1)	1,887 (+10%)	4mo	$300,000	$159	44
16 Wilshire Rd	0.45mi	4/2.0	1,930 (+12%)	22mo	$201,350	$104	41

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: -8.9%
• Equity multiple: 0.67×
• Total profit: $-21,926
• Equity at exit: $35,785

10-year hold

• IRR: 0.7%
• Equity multiple: 1.05×
• Total profit: $3,177
• Equity at exit: $20,751

Cash invested: $67,200 (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: 207
• Price-to-rent: 15.0×

Monthly cashflow live

• Estimated rent: $2,667 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$484 /mo · $5,813/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $264

Break-even live

Break-even rent $2,333

Max offer price $240,000

Occupancy floor 85%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,666
Total (2 units)			$2,667

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
758 S Huth Rd Buffalo, NY	5.0	2.0	2235	$2,800	$1.25	43d	1	0.54mi
44 Aurora Dr Buffalo, NY	3.0	1.0	1272	$3,300	$2.59	1d	1	0.98mi
47 Awood Pl Buffalo, NY	3.0	1.0	1840	$1,500	$0.82	1d	1	1.09mi
512 Cayuga Rd Buffalo, NY	3.0	1.0	1944	$1,795	$0.92	1d	1	1.18mi

Listing history 7 events

1. 2026-04-27
   status Pending
2. 2026-04-22
   price $240,000
3. 2026-04-06
   listed $249,900 Active
4. 2015-06-08
   soldstatus $97,500 Closed Sale or Rented 408-char remark

   Show marketing remark (408 chars)

   Great location for this sharp 2 unit near thruway in Maryvale School district. The lower is perfect for owner occupy because of awesome vaulted ceiling living room w/ slider to deck, air conditioning, finished media room in basement and an extra bonus room! Have upstairs pay more that half of the mortgage! Shed can easily hold a car, replacement windows. 6 yrd old tear off roof. Rents listed are projected

5. 2015-05-29
   soldstatus $97,500
6. 2015-03-09
   listed $99,900 408-char remark

   Show marketing remark (408 chars)

   Great location for this sharp 2 unit near thruway in Maryvale School district. The lower is perfect for owner occupy because of awesome vaulted ceiling living room w/ slider to deck, air conditioning, finished media room in basement and an extra bonus room! Have upstairs pay more that half of the mortgage! Shed can easily hold a car, replacement windows. 6 yrd old tear off roof. Rents listed are projected

7. 2004-08-10
   soldstatus $77,000

ⓘ 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: $5,813 · $484/mo
• Projected year-2 tax: $5,813 · $484/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 ≥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: $32,004
• − Mortgage interest: −$13,444
• − Property taxes: −$5,813
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,560
• − Management: −$2,560
• − Depreciation: −$6,982
• Taxable loss: −$555
• Est. tax savings @ 24.0%: +$133
• After-tax cash flow: $3,300/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-Maryvale Union Free School District
• NCES district ID: 3618600
• Math proficiency: 67% ▲ 11.00%
• Reading proficiency: 73% ▲ 23.00%
• Median HH income: $46,537
• Composite: 59.02/100
• National rank: #960
• State rank: #154 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

+211.7% since first listed

7 events — show timeline

• 2026-04-27 Pending — WNYREIS
• 2026-04-22 Price Changed $240,000 WNYREIS
• 2026-04-06 Listed $249,900 WNYREIS
• 2015-06-08 Sold (MLS) $97,500 WNYREIS
• 2015-05-29 Sold (Public Records) $97,500 Public Records
• 2015-03-09 Listed $99,900 WNYREIS
• 2004-08-10 Sold (Public Records) $77,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $5,813 · +0.9% YoY. Source: county tax records.