213 Gates St · Sloan, NY 14212

$199,900

3 bd · 1.0 ba · 1,541 sqft · SingleFamily public records · 4 Days on market

Built 1880 3,485 sqft lot Est $196k · at est.

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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 +16.3/30.0
• Appreciation +10.0/10.0
• ARV discount +6.5/15.0
• DSCR +5.1/10.0
• 1% rule +4.4/10.0
• Livability +3.8/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Show this beautifully modernized home to your clients before it's gone!!!!. Located just minutes from the Galleria mall, this spacious 3/1 single boasts a open floor plan with plenty of amenities and extras!!!! Updates include a renovated Kitchen /w island. Masterfully designed bathroom featuring a Spa Tub, Stand alone Shower and Double Vanity Sinks. Roof replaced in 2015. Heating/Plumbing systems include 2 yr warranties. Open House on Saturday January 30 2016 Agent and Buyers welcome!

Key facts

• Roof completed
• Large center island
• Vinyl flooring

Tags

• REMODELED KITCHEN
• GRANITE COUNTERTOPS
• LARGE CENTER ISLAND
• NEW CARPET
• VINYL FLOORING
• ROOF COMPLETED

Property features AI

Exterior

• Parking: Detached 2-car garage; Driveway parking
• Utilities: Public water connected; Sewer connected; Electric with circuit breakers
• Home design: Single-story home; Existing/resale property
• Construction: Vinyl siding; Copper plumbing; Block foundation
• Exterior features: Concrete driveway; Rectangular residential lot (approximately 30 x 110)

Interior

• Kitchen: Double oven; Dishwasher; Gas oven; Gas range; Microwave; Refrigerator
• Bedrooms: One bedroom on the main level
• Flooring: Carpet; Luxury vinyl; Tile; Varied flooring
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Gas forced-air heating
• Interior features: Separate/formal dining room; Separate/formal living room; Granite counters; Kitchen island; Pantry
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $110 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (5.7% below list).
• Recommended offer: $188k (5.7% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 5.7% in Sloan — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 76/100 on livability (#215 in NY, #3,348 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, schools D-, amenities F.
• Cheektowaga-Sloan Union Free School District (urban): math 33% / reading 38% proficiency, ranked #555 of 590 in NY (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 83 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 $78k; list at $200k implies a 156% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $188,469 (5.7% below list)

Questions for the listing agent

1. Built in 1880 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.94% ✗
• Cap rate: 6.96%
• Cash-on-cash: 2.37%
• DSCR: 1.11
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $195,707
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
72 Franklin Ave	0.13mi	3/1.5	1,430 (-7%)	4mo	$164,250	$115	77
43 Boll St	0.25mi	4/1.0 (+1)	1,552 (+1%)	8mo	$177,000	$114	76
189 Gates St	0.05mi	4/1.0 (+1)	1,392 (-10%)	3mo	$175,000	$126	74
191 Gates St	0.04mi	3/1.0	1,329 (-14%)	9mo	$120,000	$90	68
263 Boll St	0.44mi	4/2.0 (+1)	1,575 (+2%)	5mo	$230,000	$146	62
76 Wabash Ave	0.58mi	4/1.0 (+1)	1,494 (-3%)	7mo	$200,000	$134	57
109 Jackson Ave	0.33mi	4/2.0 (+1)	1,690 (+10%)	7mo	$215,100	$127	54
133 Halstead Ave Ave	0.39mi	3/1.0	1,320 (-14%)	5mo	$235,000	$178	54
138 Wagner Ave	0.66mi	4/2.0 (+1)	1,487 (-4%)	7mo	$220,000	$148	48
365 Atlantic Ave	0.67mi	4/1.0 (+1)	1,701 (+10%)	0mo	$146,250	$86	46
218 Alaska St	0.67mi	3/1.0	1,332 (-14%)	3mo	$165,000	$124	44
98 Peoria Ave	0.50mi	3/2.0	1,335 (-13%)	8mo	$235,000	$176	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.0%
• Equity multiple: 3.07×
• Total profit: $115,928
• Equity at exit: $180,086

10-year hold

• IRR: 22.8%
• Equity multiple: 7.00×
• Total profit: $335,912
• Equity at exit: $388,362

Cash invested: $55,972 (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 14212

• Home prices YoY: 20.4%
• Active inventory: 83
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,885 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$247 /mo · $2,963/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $110

Break-even live

Break-even rent $1,745

Max offer price $199,900

Occupancy floor 89%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 Rutland Ave Buffalo, NY	4.0	1.0	1430	$2,200	$1.54	10d	1	0.15mi
1368 Harlem Rd Buffalo, NY	2.0	1.0	1776	$1,300	$0.73	24d	1	0.87mi
1202 Walden Ave Unit 3 Buffalo, NY	3.0	1.0	1500	$1,400	$0.93	17d	1	1.04mi
979 Walden Ave Buffalo, NY	4.0	3.0	1793	$2,000	$1.12	2d	1	1.17mi
24 Euclid Ave Buffalo, NY	3.0	2.0	1150	$1,700	$1.48	44d	1	1.19mi
1777 Broadway Unit 2 Buffalo, NY	3.0	1.0	1300	$1,200	$0.92	44d	1	1.21mi
143 Reo Ave Buffalo, NY	3.0	2.0	1143	$1,600	$1.40	12d	1	1.28mi
96 Academy Rd Buffalo, NY	3.0	1.0	2247	$1,400	$0.62	24d	1	1.49mi

Listing history 8 events

1. 2026-05-19
   listed $199,900 Active
2. 2016-03-18
   soldstatus $78,000
3. 2016-03-17
   soldstatus $80,000 Closed Sale or Rented 492-char remark

   Show marketing remark (492 chars)

   Show this beautifully modernized home to your clients before it's gone!!!!. Located just minutes from the Galleria mall, this spacious 3/1 single boasts a open floor plan with plenty of amenities and extras!!!! Updates include a renovated Kitchen /w island. Masterfully designed bathroom featuring a Spa Tub, Stand alone Shower and Double Vanity Sinks. Roof replaced in 2015. Heating/Plumbing systems include 2 yr warranties. Open House on Saturday January 30 2016 Agent and Buyers welcome!

4. 2016-02-20
   historical Under Contract- Do Not Show 492-char remark

   Show marketing remark (492 chars)

   Show this beautifully modernized home to your clients before it's gone!!!!. Located just minutes from the Galleria mall, this spacious 3/1 single boasts a open floor plan with plenty of amenities and extras!!!! Updates include a renovated Kitchen /w island. Masterfully designed bathroom featuring a Spa Tub, Stand alone Shower and Double Vanity Sinks. Roof replaced in 2015. Heating/Plumbing systems include 2 yr warranties. Open House on Saturday January 30 2016 Agent and Buyers welcome!

5. 2016-01-21
   listed $79,900 Active 492-char remark

   Show marketing remark (492 chars)

   Show this beautifully modernized home to your clients before it's gone!!!!. Located just minutes from the Galleria mall, this spacious 3/1 single boasts a open floor plan with plenty of amenities and extras!!!! Updates include a renovated Kitchen /w island. Masterfully designed bathroom featuring a Spa Tub, Stand alone Shower and Double Vanity Sinks. Roof replaced in 2015. Heating/Plumbing systems include 2 yr warranties. Open House on Saturday January 30 2016 Agent and Buyers welcome!

6. 2015-07-01
   soldstatus $25,000 Closed Sale or Rented 200-char remark

   Show marketing remark (200 chars)

   Spacious 3 bedroom house. Large living room and dining room. Bright modern kitchen with large eating area. Plus a 2 car garage. Lots of potential with this one! This is a Fannie Mae HomePath property.

7. 2015-02-02
   listed $28,000 200-char remark

   Show marketing remark (200 chars)

   Spacious 3 bedroom house. Large living room and dining room. Bright modern kitchen with large eating area. Plus a 2 car garage. Lots of potential with this one! This is a Fannie Mae HomePath property.

8. 2000-01-10
   soldstatus $55,000

ⓘ 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: $2,963 · $247/mo
• Projected year-2 tax: $3,171 · $264/mo
• Expected delta: +$208/yr (+$17/mo · 7.0%)

ⓘ 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 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: $22,616
• − Mortgage interest: −$11,198
• − Property taxes: −$2,963
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,809
• − Management: −$1,809
• − Depreciation: −$5,815
• Taxable loss: −$1,978
• Est. tax savings @ 24.0%: +$475
• After-tax cash flow: $1,799/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-Sloan Union Free School District
• NCES district ID: 3627000
• Math proficiency: 33% ▼ -16.00%
• Reading proficiency: 38% ▼ -6.00%
• Median HH income: $45,810
• Composite: 30.35/100
• National rank: #6263
• State rank: #555 of 590 in NY

Livability — Sloan

• Score: 76/100
• State rank: #215
• US rank: #3348

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sloan, NY
• Population (ZIP): 13,603

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: White 32% Black 27% Asian 25% Hispanic / Latino 9% Two or more races 8%
• Hispanic origin (detail): Puerto Rican 8%
• Common ancestry: Romanian 12% Serbian 1% Lithuanian 1%
• Foreign-born: 20% · Philippines, Canada, China
• Languages at home: 68% English-only · Other Indo-European 18% Spanish 4% Other Asian/Pacific 2%

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: ▲ 79.80%
• Current HPI: 471.6399
• 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

+263.5% since first listed

8 events — show timeline

• 2026-05-19 Listed $199,900 WNYREIS
• 2016-03-18 Sold (Public Records) $78,000 Public Records
• 2016-03-17 Sold (MLS) $80,000 WNYREIS
• 2016-02-20 Contingent — WNYREIS
• 2016-01-21 Listed $79,900 WNYREIS
• 2015-07-01 Sold (MLS) $25,000 WNYREIS
• 2015-02-02 Listed $28,000 WNYREIS
• 2000-01-10 Sold (Public Records) $55,000 Public Records

Property tax history

-0.1%/yr

Latest (2025): $2,963 · +0.9% YoY. Source: county tax records.