4 Muto St · Lakewood, NY 14750

$24,500

2 bd · 1.0 ba · 680 sqft · Manufactured · 82 Days on market

Built 1976 $36/sqft · 42% above area Est $17k · 42% over ↓ 10% since listing

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Why this score? — see what drove the D- 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 +15.0/30.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move right into this nicely updated 2-bedroom home offering comfort, convenience, and great value. Enter through a charming covered porch perfect for relaxing or entertaining. Inside, you’ll find a spacious living room featuring new windows and an open layout that connects to a modern kitchen with abundant counter space, ample cabinetry, and an expanded dining area. Both bedrooms are generously sized with large closets. The full bath includes washer and dryer hook up convenience. New hot water tank. Outside, enjoy a new storage shed. Located in a well-kept community with a convenient location, this home is also eligible for the STAR tax credit. Lot rent is $350 and includes water, sewer and trash. Seller is licensed NY real estate agent. Don’t miss this affordable opportunity to own a move-in-ready home!

Key facts

• Covered porch
• Expanded dining area
• Ample cabinetry

Tags

• COVERED PORCH
• NEW WINDOWS
• MODERN KITCHEN
• ABUNDANT COUNTER SPACE
• AMPLE CABINETRY
• EXPANDED DINING AREA

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $24k.

Deal economics

• At list price, monthly cash flow is $908 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $24k).
• Recommended offer: $23k (6.0% below list) — sets the bar for market timing.
• Cap rate 50.8% vs local median 3.0% in Lakewood — 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 71/100 on livability (#398 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, employment D+, amenities F.
• Southwestern Central School District At Jamestown (town): math 45% / reading 56% proficiency, ranked #373 of 590 in NY (top 63%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 39 active listings in the ZIP; 127 units permitted in Chautauqua County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $169 of loan paydown is wiped out by about $735 of value loss. Plan a longer hold.
• Chautauqua County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($23k) is reasonable based on typical stale-listing flexibility.

Recommended offer $23,030 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 5.57% ✓
• Cap rate: 50.76%
• Cash-on-cash: 158.82%
• DSCR: 8.07
• GRM: 1.5

CMA / ARV

• ARV (median comp): $17,313
• List price: $24,500
• Delta: 41.51%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 8.85×
• Total profit: $53,877
• Equity at exit: $3,653

10-year hold

• IRR: —
• Equity multiple: 18.71×
• Total profit: $121,460
• Equity at exit: $2,118

Cash invested: $6,860 (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 14750

• Home prices YoY: -7.7%
• Active inventory: 39
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $1,364 medium
• Mortgage (P&I): −$128
• Tax est. 1.5%: −$31 /mo · $368/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $908

Break-even live

Break-even rent $214

Max offer price $24,500

Occupancy floor 28%

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: $6,125
• Closing costs: $735
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $24,500 Active 82 DOM
2. 2026-06-18
   days on market $24,500 Active 81 DOM
3. 2026-06-17
   days on market $24,500 Active 80 DOM
4. 2026-06-16
   days on market $24,500 Active 79 DOM
5. 2026-06-15
   days on market $24,500 Active 78 DOM
6. 2026-06-14
   days on market $24,500 Active 76 DOM
7. 2026-06-12
   days on market $24,500 Active 75 DOM
8. 2026-06-09
   days on market $24,500 Active 72 DOM
9. 2026-06-08
   pricedays on market $24,500 Active 71 DOM
10. 2026-06-07
    days on market $26,000 Active 70 DOM
11. 2026-06-03
    days on market $26,000 Active 66 DOM
12. 2026-06-02
    days on market $26,000 Active 65 DOM
13. 2026-06-01
    days on market $26,000 Active 64 DOM
14. 2026-05-31
    days on market $26,000 Active 63 DOM
15. 2026-05-30
    days on market $26,000 Active 62 DOM
16. 2026-05-14
    price $26,000 827-char remark

    Show marketing remark (827 chars)

    Move right into this nicely updated 2-bedroom home offering comfort, convenience, and great value. Enter through a charming covered porch perfect for relaxing or entertaining. Inside, you’ll find a spacious living room featuring new windows and an open layout that connects to a modern kitchen with abundant counter space, ample cabinetry, and an expanded dining area. Both bedrooms are generously sized with large closets. The full bath includes washer and dryer hook up convenience. New hot water tank. Outside, enjoy a new storage shed. Located in a well-kept community with a convenient location, this home is also eligible for the STAR tax credit. Lot rent is $350 and includes water, sewer and trash. Seller is licensed NY real estate agent. Don’t miss this affordable opportunity to own a move-in-ready home!

17. 2026-05-05
    price $27,500 827-char remark

    Show marketing remark (827 chars)

    Move right into this nicely updated 2-bedroom home offering comfort, convenience, and great value. Enter through a charming covered porch perfect for relaxing or entertaining. Inside, you’ll find a spacious living room featuring new windows and an open layout that connects to a modern kitchen with abundant counter space, ample cabinetry, and an expanded dining area. Both bedrooms are generously sized with large closets. The full bath includes washer and dryer hook up convenience. New hot water tank. Outside, enjoy a new storage shed. Located in a well-kept community with a convenient location, this home is also eligible for the STAR tax credit. Lot rent is $350 and includes water, sewer and trash. Seller is licensed NY real estate agent. Don’t miss this affordable opportunity to own a move-in-ready home!

18. 2026-03-29
    listed $29,000 Active 827-char remark

    Show marketing remark (827 chars)

    Move right into this nicely updated 2-bedroom home offering comfort, convenience, and great value. Enter through a charming covered porch perfect for relaxing or entertaining. Inside, you’ll find a spacious living room featuring new windows and an open layout that connects to a modern kitchen with abundant counter space, ample cabinetry, and an expanded dining area. Both bedrooms are generously sized with large closets. The full bath includes washer and dryer hook up convenience. New hot water tank. Outside, enjoy a new storage shed. Located in a well-kept community with a convenient location, this home is also eligible for the STAR tax credit. Lot rent is $350 and includes water, sewer and trash. Seller is licensed NY real estate agent. Don’t miss this affordable opportunity to own a move-in-ready home!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $16,363
• − Mortgage interest: −$1,372
• − Property taxes: −$368
• − Insurance: −$122
• − Repairs & maintenance: −$1,309
• − Management: −$1,309
• − Depreciation: −$713
• Taxable income: $11,170
• Est. tax owed @ 24.0%: −$2,681
• After-tax cash flow: $8,214/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: Southwestern Central School District At Jamestown
• NCES district ID: 3627660
• Math proficiency: 45% ▼ -11.00%
• Reading proficiency: 56% ▲ 3.00%
• Median HH income: $50,567
• Composite: 43.21/100
• National rank: #3062
• State rank: #373 of 590 in NY

Livability — Lakewood

• Score: 71/100
• State rank: #398
• US rank: #6904

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakewood, NY
• Population (ZIP): 4,411

Population outlook (Chautauqua County) Hauer SSP2

• Today (2025): 123,454 people
• By 2030: 118,509 · -4.0%
• By 2040: 107,311 · -13.1%
• By 2050: 96,703 · -21.7%
• By 2075: 76,757 · -37.8%
• By 2100: 60,984 · -50.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 4% Slovak 2% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Chautauqua

• 2024 margin: Strong R (+22.0) · D 39.0% · R 61.0%
• 2008→2024 swing: -22.9pp toward R · 2008: 0.9pp · 2024: -22.0pp
• All cycles: 2024: R+22.0 2020: R+19.8 2016: R+24.6 2012: R+8.2 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -26.43%
• Current HPI: 318.8566
• 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

-10.3% since first listed

3 events — show timeline

• 2026-05-14 Price Changed $26,000 UNYREIS
• 2026-05-05 Price Changed $27,500 UNYREIS
• 2026-03-29 Listed $29,000 UNYREIS