73 Henel Ave #5 · Eggertsville, NY 14226

$146,000

1 bd · 1.0 ba · 895 sqft · Condo public records · 10 Days on market

Built 1972 $225/mo HOA · 14% of rent

---

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 +16.4/30.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• DSCR +5.1/10.0
• Rent growth +4.8/5.0
• Schools +4.5/10.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice location on inside unit with view of pool from the covered patio. Nice bright unit with vaulted ceilings open living/dining concept and spacious bedroom. Just a little bit of TLC will make this a spectacular unit. Open parking but there is plenty. Central air, all amenities of Cloister Square. Relax by the pool. Great location. Walk to Wegmans or BJ'S. Storage and laundry are in the basement. No pets allowed.

Key facts

• Great location
• Covered patio
• Open-concept living

Tags

• COVERED PATIO
• OPEN-CONCEPT LIVING
• GREAT LOCATION

Property features AI

Finance

• HOA & community: Bliss association; Monthly association fee of $225; Association fee covers common area maintenance, common area insurance, insurance, sewer, snow removal, and water

Exterior

• Parking: No garage; Open parking available
• Utilities: Public water connected; Sewer connected
• Home design: Single-story property; Resale condition
• Construction: Brick construction; Existing (original) year built
• Exterior features: Rectangular residential lot; City street frontage; Association pool; Association storage

Interior

• Kitchen: Dishwasher; Gas cooktop; Refrigerator
• Bedrooms: Total of 4 rooms (includes bedroom space)
• Flooring: Carpet; Varied flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: See remarks
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $146k.

Deal economics

• At list price, monthly cash flow is $82 ($981/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $146k).
• Cap rate 7.0% vs local median 4.5% in Eggertsville — 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 85/100 on livability (#34 in NY, #534 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: crime C-, amenities C-.
• Sweet Home Central School District (suburban): math 46% / reading 59% proficiency, ranked #342 of 590 in NY (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+9.0%/yr); 143 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $41k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 13y 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 $115k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $146,000

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.09% ✓
• Cap rate: 6.96%
• Cash-on-cash: 2.40%
• DSCR: 1.11
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.76×
• Total profit: $-9,890
• Equity at exit: $21,769

10-year hold

• IRR: 9.3%
• Equity multiple: 1.91×
• Total profit: $37,005
• Equity at exit: $12,623

Cash invested: $40,880 (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 14226

• Rents YoY: 9.0%
• Active inventory: 143
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,596 high
• Mortgage (P&I): −$766
• Tax from tax record: −$128 /mo · $1,533/yr
• Insurance: −$61
• HOA: −$225
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $82

Break-even live

Break-even rent $1,493

Max offer price $146,000

Occupancy floor 90%

Sensitivity live

Price	-10% $164	-5% $123	+0% $82	+5% $40	+10% $-1
Rent	-10% $-44	-5% $19	+0% $82	+5% $145	+10% $208
Rate	-1.0pp $155	-0.5pp $119	base $82	+0.5pp $44	+1.0pp $5

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: $36,500
• Closing costs: $4,380
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
427 Emerson Dr Buffalo, NY	1.0	1.0	570	$1,355	$2.38	20d	1	0.15mi
4765 N Bailey Ave Buffalo, NY	2.0	1.0	900	$2,100	$2.33	44d	1	0.22mi
780 Millersport Hwy Unit 1 Buffalo, NY	2.0	1.0	850	$1,395	$1.64	44d	1	0.74mi
79 Rosemont Dr Buffalo, NY	2.0	1.0	1071	$2,200	$2.05	44d	1	0.92mi
63 Garnet Rd Buffalo, NY	2.0	1.0	800	$1,350	$1.69	44d	1	1.02mi
1335 Millersport Hwy Unit 1335-06 Buffalo, NY	1.0	1.0	560	$1,415	$2.53	44d	1	1.28mi
1335 Millersport Hwy Unit 04 Buffalo, NY	2.0	1.0	713	$1,595	$2.24	2d	1	1.28mi
1335 Millersport Hwy Buffalo, NY	2.0	1.0	713	$1,595	$2.24	12d	1	1.28mi
1357 Millersport Hwy Buffalo, NY	1.0–2.0	1.0	636	$1,415	$2.22	2d	2	1.32mi
1357 Millersport Hwy Unit 1335-06 Buffalo, NY	1.0	1.0	560	$1,415	$2.53	44d	1	1.32mi
1357 Millersport Hwy Unit 1357-03 Buffalo, NY	2.0	1.0	713	$1,595	$2.24	44d	1	1.32mi
3948 Ridge Lea Rd Unit D Buffalo, NY	2.0	1.0	952	$1,850	$1.94	2d	1	1.40mi
1233 Eggert Rd Buffalo, NY	1.0	1.0	700	$1,175	$1.68	24d	1	1.49mi

HOA detail condo

• Monthly dues: $225 · $2,700/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-06-18
   days on market $146,000 Active 10 DOM
2. 2026-06-17
   days on market $146,000 Active 9 DOM
3. 2026-06-16
   days on market $146,000 Active 8 DOM
4. 2026-06-15
   days on market $146,000 Active 7 DOM
5. 2026-06-13
   days on market $146,000 Active 5 DOM
6. 2026-06-10
   days on market $146,000 Active 2 DOM
7. 2026-06-08
   remarks 427-char remark
8. 2026-06-08
   listed $146,000 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: $1,533 · $128/mo
• Projected year-2 tax: $2,000 · $167/mo
• Expected delta: +$467/yr (+$39/mo · 30.5%)

ⓘ 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 3/10 Moderate 7 d/yr ≥92°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: $19,154
• − Mortgage interest: −$8,178
• − Property taxes: −$1,533
• − Insurance: −$730
• − Repairs & maintenance: −$1,532
• − Management: −$1,532
• − HOA: −$2,700
• − Depreciation: −$4,247
• Taxable loss: −$1,300
• Est. tax savings @ 24.0%: +$312
• After-tax cash flow: $1,292/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: Sweet Home Central School District
• NCES district ID: 3628500
• Math proficiency: 46% ▼ -12.00%
• Reading proficiency: 59% ▲ 4.00%
• Median HH income: $48,509
• Composite: 44.67/100
• National rank: #2765
• State rank: #342 of 590 in NY

Livability — Eggertsville

• Score: 85/100
• State rank: #34
• US rank: #534

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Erie County · 714,559 people
• City population: 29,482
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 29,159
• Household income: $84,325
• Rent vs Own: 29.0% rent · 71.0% own
• Severe rent burden: 856.0

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 10% Asian 7% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Romanian 7% Lithuanian 2% Slovak 1%
• Foreign-born: 13% · Canada, China, India
• Languages at home: 87% English-only · Other Indo-European 4% 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: ▼ -270.71%
• Current HPI: 331.1929
• Rent YoY: ▲ 9.01%
• 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

+201.0% since first listed

11 events — show timeline

• 2026-06-08 Listed $146,000 WNYREIS
• 2025-08-14 Sold (Public Records) $115,000 Public Records
• 2025-08-14 Sold (MLS) $115,000 WNYREIS
• 2025-07-07 Pending — WNYREIS
• 2025-07-02 Price Changed $124,900 WNYREIS
• 2025-06-17 Listed $129,900 WNYREIS
• 2013-07-05 Sold (MLS) $70,000 WNYREIS
• 2013-07-02 Sold (Public Records) $70,000 Public Records
• 2013-04-25 Listed $73,900 WNYREIS
• 2007-01-05 Sold (Public Records) $69,000 Public Records
• 1998-03-05 Sold (Public Records) $48,500 Public Records

Property tax history

+13.5%/yr

Latest (2025): $1,533 · +5.0% YoY. Source: county tax records.