185 Laurelwood Ave · South Lockport, NY 14094

$39,900

2 bd · 1.5 ba · 910 sqft · Manufactured · 9 Days on market

Built 1974 Average condition 435 sqft lot Est $32k · 25% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.9/10.0
• Rent growth +3.4/5.0
• Livability +3.3/5.0
• Condition / age +2.8/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Pack your bags and move right in! This 2-bedroom, 1.5-bathroom home situated in the town of Lockport offers simple, single-level living. Say yes to entertaining in your cozy living room that flows seamlessly into the spacious kitchen, which comes completely ready to use with the included stove, fridge, and portable dishwasher! The heavy-hitting updates are already done for you—both the furnace and central air conditioning are just a few months old. Located minutes from all your favorite shopping spots, this home blends unmatched convenience with total comfort. Plus, you get access to the community center and pool just in time for those hot summer days. Why rent when you can own this t

Key facts

• Cozy living room
• Community center
• Spacious kitchen

Tags

• SINGLE LEVEL LIVING
• COZY LIVING ROOM
• SPACIOUS KITCHEN
• COMMUNITY CENTER
• POOL

Property features AI

Finance

• HOA & community: Monthly land lease of $505

Exterior

• Parking: No garage
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: Single-wide mobile home; Single-story (1 story); Resale property; Young American model
• Construction: Aluminum siding
• Exterior features: Blacktop driveway; Rectangular residential lot; City street frontage; Community pool

Interior

• Kitchen: Free-standing range; Oven; Dishwasher; Refrigerator; Water heater
• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom; 1 half bathroom; 2 main-level bathrooms
• Interior features: Eat-in kitchen; Bedroom on main level
• Laundry & utility: Washer and dryer on main level; Laundry located on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $40k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $645 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Cap rate 25.7% vs local median 1.5% in South Lockport — 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 66/100 on livability (#633 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: employment D+, schools F, crime F.
• Lockport City School District (town): math 44% / reading 49% proficiency, ranked #452 of 590 in NY (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.7%/yr); 357 active listings in the ZIP; solid renter incomes; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Niagara County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $39,900

Questions for the listing agent

1. Built in 1974 — 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 F-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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 2.92% ✓
• Cap rate: 25.70%
• Cash-on-cash: 69.33%
• DSCR: 4.08
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $31,850
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
480 Chestnut Dr	0.41mi	2/2.0	924 (+2%)	16mo	$42,900	$46	62
306 Dogwood Dr	0.38mi	2/2.0	1,035 (+14%)	7mo	$43,000	$42	52
337 Applewood Dr	0.46mi	2/1.0	980 (+8%)	16mo	$32,900	$34	51
6035 S Transit #300 Woodcrest Rd #300	0.40mi	2/1.5	980 (+8%)	22mo	$31,000	$32	50
1108 Lockwood Dr	0.64mi	2/2.0	1,008 (+11%)	0mo	$30,000	$30	50
533 Applewood Dr	0.62mi	2/2.0	1,008 (+11%)	5mo	$35,000	$35	48
1062 Fernwood Dr	0.62mi	2/2.0	964 (+6%)	14mo	$16,500	$17	47
1021 Fernwood Dr	0.69mi	3/2.0 (+1)	980 (+8%)	23mo	$47,500	$48	29

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 · 3.67% rent growth · sell at horizon

5-year hold

• IRR: 69.6%
• Equity multiple: 4.17×
• Total profit: $35,451
• Equity at exit: $5,949

10-year hold

• IRR: 73.8%
• Equity multiple: 8.80×
• Total profit: $87,165
• Equity at exit: $3,450

Cash invested: $11,172 (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 14094

• Rents YoY: 3.7%
• Active inventory: 357
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,166 medium
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $645

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 40%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $39,900 Active 9 DOM
2. 2026-06-17
   days on market $39,900 Active 8 DOM
3. 2026-06-16
   days on market $39,900 Active 7 DOM
4. 2026-06-15
   days on market $39,900 Active 6 DOM
5. 2026-06-13
   days on market $39,900 Active 4 DOM
6. 2026-06-13
   days on market $39,900 Active 3 DOM
7. 2026-06-10
   remarks 693-char remark
8. 2026-06-10
   listed $39,900 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,992
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$1,119
• − Management: −$1,119
• − Depreciation: −$1,161
• Taxable income: $7,560
• Est. tax owed @ 24.0%: −$1,814
• After-tax cash flow: $5,931/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.

Condition & rehab AI · 12 photos

Average 55/100 Cosmetic rehab

This 2-bedroom, 1.5-bathroom mobile home is in average condition with cosmetic updates needed. Painting and flooring refinishing would significantly enhance its curb appeal and interior aesthetics.

Repairs flagged

• Minor Exterior siding — Weathered appearance
• Minor Paint — Worn in some areas
• Minor Flooring — Could be refinished

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics
• Both Floor refinishing — Improves appearance and value
• Both Painting interior walls — Enhances interior aesthetics and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered appearance	Minor	$500–3,000
Paint · Worn in some areas	Minor	$500–3,000
Flooring · Could be refinished	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Floor refinishing — Improves appearance and value ↑
• Both Painting interior walls — Enhances interior aesthetics and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Lockport City School District
• NCES district ID: 3617670
• Math proficiency: 44% ▼ -7.00%
• Reading proficiency: 49% ▲ 3.00%
• Median HH income: $43,793
• Composite: 39.28/100
• National rank: #3997
• State rank: #452 of 590 in NY

Livability — South Lockport

• Score: 66/100
• State rank: #633
• US rank: #11642

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Lockport, NY
• County: Niagara County · 157,377 people
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 50,153
• Household income: $75,427
• Rent vs Own: 28.1% rent · 71.9% own
• Severe rent burden: 1112.0

Population outlook (Niagara County) Hauer SSP2

• Today (2025): 204,149 people
• By 2030: 197,900 · -3.1%
• By 2040: 182,239 · -10.7%
• By 2050: 165,198 · -19.1%
• By 2075: 129,416 · -36.6%
• By 2100: 96,222 · -52.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 6% Black 6% Hispanic / Latino 3%
• Common ancestry: Romanian 9% Slovak 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 1% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Niagara

• 2024 margin: R (+14.9) · D 42.5% · R 57.5%
• 2008→2024 swing: -15.9pp toward R · 2008: 1.0pp · 2024: -14.9pp
• All cycles: 2024: R+14.9 2020: R+9.7 2016: R+19.0 2012: D+0.6 2008: D+1.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -262.57%
• Current HPI: 303.6109
• Rent YoY: ▲ 3.67%
• 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

1 event — show timeline

• 2026-06-09 Listed $39,900 WNYREIS