264 Shanley St · Cheektowaga, NY 14206

$159,900

2 bd · 1.0 ba · 936 sqft · SingleFamily public records · 6 Days on market

Built 1955 6,098 sqft lot $171/sqft · 27% below area Est $218k · 27% under

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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).

• ARV discount +15.0/15.0
• Appreciation +9.0/10.0
• Livability +4.2/5.0
• Schools +3.0/10.0
• Cash flow +2.9/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +0.0/10.0

Listing remarks

Welcome to 264 Shanley St. Step into timeless character and cozy comfort with this charming 2 BR 1 BA ranch nestled in Cheektowaga! From the moment you enter, you will appreciate the beautiful woodwork, classic details, and sun-filled living spaces that creates a warm and inviting atmosphere throughout. You are first greeted by a spacious & bright living room with original hardwood floors and a south-facing bay window that captures the daily sunrise, not to mention the beautiful cherry blossom tree that stands tall in the front yard. While the current formal dining room is being utilized as additional seating space that overlooks the park-like yard, there is plenty of room to host and

Key facts

• 6,098 sq ft lot
• Garage
• Built 1955

Property features AI

Exterior

• Parking: Detached garage; 1 garage space
• Utilities: Public water connected; Sewer connected; Circuit breaker electric
• Home design: Single-story home; Existing/resale property
• Construction: Vinyl siding; Asphalt roof; Poured foundation; Built (existing)
• Exterior features: Concrete driveway; Rectangular residential lot (51 x 119); City street frontage

Interior

• Kitchen: Dishwasher; Gas cooktop; Appliances negotiable
• Bedrooms: 2 main-level bedrooms
• Flooring: Hardwood; Vinyl; Varies
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Separate/formal dining room; Eat-in kitchen; Separate/formal living room; Solid surface counters; Natural woodwork; Full basement
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $-526 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $116k (27.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $109k (31.7% below list).
• Recommended offer: $109k (31.7% below list) — sets the bar for 1% rule.
• Cap rate 2.3% vs local median 3.8% in Cheektowaga — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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-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: 169 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).

Forward outlook

• In year one you build about $14k of equity ($1k loan paydown + $13k appreciation (8.1% local appreciation)).
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $65k; list at $160k implies a 146% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,157 (31.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 0.68% ✗
• Cap rate: 2.34%
• Cash-on-cash: -14.11%
• DSCR: 0.37
• GRM: 12.2

CMA / ARV

• ARV (median comp): $218,232
• List price: $159,900
• Delta: -26.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
275 N Willowlawn Pkwy	0.14mi	3/1.0 (+1)	948 (+1%)	2mo	$215,000	$227	85
302 N Pleasant Pkwy	0.09mi	3/1.0 (+1)	1,000 (+7%)	7mo	$185,000	$185	73
126 Claude Dr	0.32mi	3/1.0 (+1)	897 (-4%)	10mo	$194,500	$217	65
112 Medina St	0.45mi	3/1.0 (+1)	897 (-4%)	8mo	$252,500	$281	60
140 Medina St	0.47mi	3/1.0 (+1)	884 (-6%)	11mo	$203,500	$230	55
56 Shanley St	0.44mi	2/1.0	832 (-11%)	11mo	$205,000	$246	52
358 Weimar St	0.56mi	2/1.0	1,050 (+12%)	2mo	$200,000	$190	51
217 Weiss St	0.66mi	3/1.0 (+1)	993 (+6%)	3mo	$160,000	$161	51
114 Shanley St	0.33mi	3/1.0 (+1)	1,054 (+13%)	9mo	$152,500	$145	51
72 Hedley St	0.63mi	3/1.0 (+1)	990 (+6%)	10mo	$190,000	$192	48
396 Weimar St	0.52mi	3/1.0 (+1)	1,038 (+11%)	10mo	$205,000	$197	44
17 S Colby St	0.57mi	3/1.0 (+1)	1,026 (+10%)	11mo	$215,000	$210	44

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

Projected returns pro-forma

8.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.7%
• Equity multiple: 1.74×
• Total profit: $33,139
• Equity at exit: $122,116

10-year hold

• IRR: 10.9%
• Equity multiple: 3.71×
• Total profit: $121,460
• Equity at exit: $243,007

Cash invested: $44,772 (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 14206

• Home prices YoY: 1.8%
• Active inventory: 169
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $1,092 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$483 /mo · $5,802/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $-526

Break-even live

Break-even rent $1,758

Max offer price $116,032

Occupancy floor —

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1777 Broadway Unit 3 Buffalo, NY	1.0	1.0	600	$750	$1.25	43d	1	1.30mi

Listing history 4 events

1. 2026-05-12
   status Pending 1817-char remark
2. 2026-05-06
   listed $159,900 Active 1817-char remark
3. 2016-10-31
   soldstatus $65,000
4. 2012-11-26
   soldstatus $45,000

ⓘ 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: $5,802 · $483/mo
• Projected year-2 tax: $5,802 · $483/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 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: $13,099
• − Mortgage interest: −$8,957
• − Property taxes: −$5,802
• − Insurance: −$800
• − Repairs & maintenance: −$1,048
• − Management: −$1,048
• − Depreciation: −$4,652
• Taxable loss: −$9,207
• Est. tax savings @ 24.0%: +$2,210
• After-tax cash flow: $-4,106/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 — 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): 21,631
• Household income: $50,450
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 841.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 13% Black 12% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10%
• Common ancestry: Romanian 25% Lithuanian 1% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Arabic 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: ▲ 8.06%
• Current HPI: 457.3935
• 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

+255.3% since first listed

4 events — show timeline

• 2026-05-12 Pending — WNYREIS
• 2026-05-06 Listed $159,900 WNYREIS
• 2016-10-31 Sold (Public Records) $65,000 Public Records
• 2012-11-26 Sold (Public Records) $45,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $5,802 · +1.1% YoY. Source: county tax records.