37 Calla Way · Cheektowaga, NY 14225

$142,000

2 bd · 1.0 ba · 1,904 sqft · Manufactured public records · 174 Days on market

Built 1994 $75/sqft · 12% above area Est $120k · 18% over

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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 +27.6/30.0
• DSCR +9.7/10.0
• 1% rule +6.8/10.0
• Schools +5.2/10.0
• Livability +4.2/5.0
• 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

Rare opportunity to own a beautiful 1800 square foot home in The Villas of Calla Pointe, a 55+ serene community! Furry friends welcome! Must be 55+. Enter into the park with tree lined entrance and exit; no additional traffic other than residents. Charming lamp posts on each house make for a scenic drive through the community. Upon entering the house, you will experience an abundance of natural light from huge and plentiful windows and sky lights galore. Grand room includes designated dining area and spacious living area featuring a low maintenance gas fireplace creating cozy memories. The enormous kitchen is centered with a glorious island to gather and feast. Appliances all less than 2 years old stay with the new owner. The master bedroom has a huge on-suite bathroom with plenty of space for essentials and linens. Walk in surround oasis awaits you after a long day. The home has 2 more large bedrooms and another full bath for guests and added convenience. Large closets, a dry shed and semi enclosed porch area, so no worries about storage. Large laundry room with stationary sink and large closets is a convenience not to be under looked. Washer / Dryer stay with nee owner. Shed is large and dry and has electricity. Cement driveway accommodates 2-3 cars and plenty of parking to spare. A large portion under a structurally secured carport. Centrally located near Transit & Genesee street. Proof of approved financing; community approval required by Sun Communities; Viewing by appt only with 24/hr notice; Lot fee $723 month This 1994 home has had many updates in the past year! ~ New roof and sky lights by TurkMasters ~ Installed drain tile with a lifetime transferrable warranty around house and shed ~ Fresh paint throughout the house in neutral colors ~ New plank and vinyl flooring (no carpets) ~ Custom natural shades in the living area by Budget blinds ~ Custom blinds installed on both sky lights in the kitchen area by Budget Blinds ~ Full overall landscaping in front includes a flagstone edged flower bed. ~ New lighting outside near house and shed Bedrooms # Bedrooms 1 St Floor: 3 Beds: 3 Bathrooms Full Bathrooms: 2 Half Bathrooms: 0 # Full Baths 1 St Floor: 2 Kitchen and Dining Breakfast Bar Country Kitchen Eat-In Formal Dining Roo Living/Dining Combo Other rooms # Of Rooms: 7 1 St Floor Bedroom 1 St Floor Master Bedroom Great Room Laundry- 1 St Floor Living Room Master Bedroom Bath Porch - Enclosed Interior Features Additional Interior Features: Cathedral Ceilings, Ceiling Fan, Circuit Breakers - Some, Skylight, Whirlpool Tub Heating and Cooling Gas Heating Gas Water Heating Central Air Forced Air Programmablethermostat # Fireplaces - Gas: 1 # Fireplaces - Not Rep To Code: 1 Appliances Dishwasher Oven/Range-Gas Range Hood/Exhaust Fan Features Building and Construction Laminate Flooring Wall To Wall Carpet Flooring Year Built Describes Existing Vinyl Construction # Of Stories: 1.00 Utilities Sewer Connected Public Connected Water Exterior Exterior and Lot Features Lot Shape: Rectangular Lot Dimension: 55 X 130 Additional Exterior Features: Cable Tv Available, Patio, Private Yard - See Remarks, Shed Neighborhood Street, Other - See Remarks Garage and Parking Concrete Driveway Parking Area Driveway Carport Community School Information Lancaster District Listing Other Property Info County: Erie Directions: Transit To Genesee To Calla Way Nearest Cross Street: Genesee

Key facts

• On-suite bathroom
• Huge windows
• Gas fireplace

Tags

• HUGE WINDOWS
• GAS FIREPLACE
• ON-SUITE BATHROOM
• WALK IN SURROUND OASIS
• LARGE CLOSETS
• LARGE LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $142k.

Deal economics

• At list price, monthly cash flow is $422 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $142k).
• Recommended offer: $125k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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-.
• Lancaster Central School District (suburban): math 57% / reading 61% proficiency, ranked #234 of 590 in NY (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Lancaster High School (math 97% / reading 92%, grade A+, #117 of 1,100 statewide, top 11%, 1,652 students, 24% FRL).
• Zoned-school proficiency averages 94% at this address vs 59% district-wide (+36 pts) — the actual schools serving this property are materially stronger than the Lancaster Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 209 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

• Local home prices are declining (-3.0%/yr); year-one equity from $982 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $40k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 174 days — a 12% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 2 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 $65k; list at $142k implies a 118% gain — meaningful room to come down on a strong offer.

Recommended offer $124,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 174 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.18% ✓
• Cap rate: 9.86%
• Cash-on-cash: 12.75%
• DSCR: 1.57
• GRM: 7.1

CMA / ARV

• ARV (median comp): $120,332
• List price: $142,000
• Delta: 18.01%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14 Calla	0.12mi	3/2.0 (+1)	1,904 (0%)	20mo	$120,000	$63	69
52 Calla	0.13mi	3/2.0 (+1)	1,792 (-6%)	10mo	$114,000	$64	67

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: 2.5%
• Equity multiple: 1.10×
• Total profit: $3,864
• Equity at exit: $21,173

10-year hold

• IRR: 12.1%
• Equity multiple: 1.95×
• Total profit: $37,904
• Equity at exit: $12,278

Cash invested: $39,760 (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: 209
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,677 medium
• Mortgage (P&I): −$745
• Tax from tax record: −$98 /mo · $1,180/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $422

Break-even live

Break-even rent $1,142

Max offer price $142,000

Occupancy floor 70%

Sensitivity live

Price	-10% $503	-5% $463	+0% $422	+5% $382	+10% $342
Rent	-10% $290	-5% $356	+0% $422	+5% $489	+10% $555
Rate	-1.0pp $494	-0.5pp $458	base $422	+0.5pp $386	+1.0pp $348

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: $35,500
• Closing costs: $4,260
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6386 Transit Rd Depew, NY	1.0–2.0	1.0–2.0	1023	$2,397	$2.34	0d	62	0.24mi

Listing history 7 events

1. 2026-06-03
   days on market $142,000 Active 174 DOM
2. 2026-06-02
   days on market $142,000 Active 173 DOM
3. 2026-06-01
   days on market $142,000 Active 172 DOM
4. 2026-05-31
   days on market $142,000 Active 171 DOM
5. 2025-12-11
   listed $142,000 Active 3532-char remark

   Show marketing remark (3532 chars)

   Rare opportunity to own a beautiful 1800 square foot home in The Villas of Calla Pointe, a 55+ serene community! Furry friends welcome! Must be 55+. Enter into the park with tree lined entrance and exit; no additional traffic other than residents. Charming lamp posts on each house make for a scenic drive through the community. Upon entering the house, you will experience an abundance of natural light from huge and plentiful windows and sky lights galore. Grand room includes designated dining area and spacious living area featuring a low maintenance gas fireplace creating cozy memories. The enormous kitchen is centered with a glorious island to gather and feast. Appliances all less than 2 years old stay with the new owner. The master bedroom has a huge on-suite bathroom with plenty of space for essentials and linens. Walk in surround oasis awaits you after a long day. The home has 2 more large bedrooms and another full bath for guests and added convenience. Large closets, a dry shed and semi enclosed porch area, so no worries about storage. Large laundry room with stationary sink and large closets is a convenience not to be under looked. Washer / Dryer stay with nee owner. Shed is large and dry and has electricity. Cement driveway accommodates 2-3 cars and plenty of parking to spare. A large portion under a structurally secured carport. Centrally located near Transit & Genesee street. Proof of approved financing; community approval required by Sun Communities; Viewing by appt only with 24/hr notice; Lot fee $723 month This 1994 home has had many updates in the past year! ~ New roof and sky lights by TurkMasters ~ Installed drain tile with a lifetime transferrable warranty around house and shed ~ Fresh paint throughout the house in neutral colors ~ New plank and vinyl flooring (no carpets) ~ Custom natural shades in the living area by Budget blinds ~ Custom blinds installed on both sky lights in the kitchen area by Budget Blinds ~ Full overall landscaping in front includes a flagstone edged flower bed. ~ New lighting outside near house and shed Bedrooms # Bedrooms 1 St Floor: 3 Beds: 3 Bathrooms Full Bathrooms: 2 Half Bathrooms: 0 # Full Baths 1 St Floor: 2 Kitchen and Dining Breakfast Bar Country Kitchen Eat-In Formal Dining Roo Living/Dining Combo Other rooms # Of Rooms: 7 1 St Floor Bedroom 1 St Floor Master Bedroom Great Room Laundry- 1 St Floor Living Room Master Bedroom Bath Porch - Enclosed Interior Features Additional Interior Features: Cathedral Ceilings, Ceiling Fan, Circuit Breakers - Some, Skylight, Whirlpool Tub Heating and Cooling Gas Heating Gas Water Heating Central Air Forced Air Programmablethermostat # Fireplaces - Gas: 1 # Fireplaces - Not Rep To Code: 1 Appliances Dishwasher Oven/Range-Gas Range Hood/Exhaust Fan Features Building and Construction Laminate Flooring Wall To Wall Carpet Flooring Year Built Describes Existing Vinyl Construction # Of Stories: 1.00 Utilities Sewer Connected Public Connected Water Exterior Exterior and Lot Features Lot Shape: Rectangular Lot Dimension: 55 X 130 Additional Exterior Features: Cable Tv Available, Patio, Private Yard - See Remarks, Shed Neighborhood Street, Other - See Remarks Garage and Parking Concrete Driveway Parking Area Driveway Carport Community School Information Lancaster District Listing Other Property Info County: Erie Directions: Transit To Genesee To Calla Way Nearest Cross Street: Genesee

6. 2014-03-18
   soldstatus $65,000 643-char remark

   Show marketing remark (643 chars)

   Meticulously maintained home in Calla Pointe. Sunfilled kit is oversized w/ an abundance of cabinets, skylights & counter space w/ breakfast bar. DR area w/ lrg mirrored buffet area. Vaulted LR w/ gas fplc as focal point enhanced by spotlights & stone hearth. Large master suite has 2 oversized walk-in closets & private bath complete w/ walk-in shower & Jacuzzi tub, skylights, dbl sink, linen closets. Main bath w/ skylights. 2 lrg add'l bdrms w/ lrg closets. Ceiling fans. Utility/laundry rm w/ door to side yard, closet & counter-folding area. Private lattice patio, shed & priv yard. Roof/furn/AC 2012.

7. 2013-06-11
   listed $74,900 643-char remark

   Show marketing remark (643 chars)

   Meticulously maintained home in Calla Pointe. Sunfilled kit is oversized w/ an abundance of cabinets, skylights & counter space w/ breakfast bar. DR area w/ lrg mirrored buffet area. Vaulted LR w/ gas fplc as focal point enhanced by spotlights & stone hearth. Large master suite has 2 oversized walk-in closets & private bath complete w/ walk-in shower & Jacuzzi tub, skylights, dbl sink, linen closets. Main bath w/ skylights. 2 lrg add'l bdrms w/ lrg closets. Ceiling fans. Utility/laundry rm w/ door to side yard, closet & counter-folding area. Private lattice patio, shed & priv yard. Roof/furn/AC 2012.

ⓘ 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: $1,180 · $98/mo
• Projected year-2 tax: $1,790 · $149/mo
• Expected delta: +$610/yr (+$51/mo · 51.7%)

ⓘ 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 ≥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: $20,118
• − Mortgage interest: −$7,954
• − Property taxes: −$1,180
• − Insurance: −$710
• − Repairs & maintenance: −$1,609
• − Management: −$1,609
• − Depreciation: −$4,131
• Taxable income: $2,925
• Est. tax owed @ 24.0%: −$702
• After-tax cash flow: $4,366/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: Lancaster Central School District
• NCES district ID: 3616680
• Math proficiency: 57% ▼ -13.00%
• Reading proficiency: 61% ▲ 2.00%
• Median HH income: $64,668
• Composite: 51.64/100
• National rank: #1700
• State rank: #234 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

+89.6% since first listed

3 events — show timeline

• 2025-12-11 Listed $142,000 ForSaleByOwner.com
• 2014-03-18 Sold (MLS) $65,000 WNYREIS
• 2013-06-11 Listed $74,900 WNYREIS

Property tax history

+2.6%/yr

Latest (2025): $1,180 · -1.7% YoY. Source: county tax records.