73 Columbia Pkwy · West Seneca, NY 14224

$199,000

6 bd · 2.0 ba · 2,324 sqft · MultiFamily public records · 19 Days on market

Built 1927 5,000 sqft lot $86/sqft · 45% below area Est $360k · 45% under

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Why this score? — see what drove the B 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 +27.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.4/10.0
• 1% rule +8.5/10.0
• Schools +4.5/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Completely move in ready double in West Seneca schools! Recent exterior updates include- new vinyl siding, new architectural shingle roof, new windows. Upper apartment is renovated with new flooring throughout, updated white kitchen with stainless steel appliances, new bathroom with gleaming white surround and glass door. Electrical, furnaces and hot water tanks all updated, this is a turn key property on a fantastic street! Showings begin at the Open House Sunday, March 3rd, 1-3pm!

Key facts

• New bathroom
• Newer vinyl siding
• Newer windows

Tags

• NEWER VINYL SIDING
• NEWER WINDOWS
• UPDATED FLOORING
• UPDATED WHITE KITCHEN
• STAINLESS STEEL APPLIANCES
• NEW BATHROOM

Property features AI

Finance

• Other: Operating expense details referenced in remarks
• Financial info: Owner pays water; rent includes water; Two-unit multifamily property with separate gas and electric meters for each unit; One unit listed with $1,500 actual monthly rent; second unit rent not listed

Exterior

• Parking: Paved parking
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Resale property; Aluminum siding and brick exterior
• Construction: Aluminum siding and brick construction; Existing structure (previously built)
• Exterior features: Paved parking; Rectangular residential lot; City street frontage; Lot dimensions approximately 40 x 125

Interior

• Bedrooms: Two 3-bedroom units (each with living room)
• Flooring: Hardwood; Tile; Varies
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Pull-down attic stairs
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $559 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $196k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 3.7% in West Seneca — 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 79/100 on livability (#130 in NY, #2,089 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A-; Watch: amenities D, commute F.
• West Seneca Central School District (suburban): math 49% / reading 55% proficiency, ranked #336 of 590 in NY (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 201 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $196,015 (1.5% below list)

Questions for the listing agent

1. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.35% ✓
• Cap rate: 9.67%
• Cash-on-cash: 12.04%
• DSCR: 1.54
• GRM: 6.2

CMA / ARV

• ARV (median comp): $359,759
• List price: $199,000
• Delta: -44.69%
• 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
96 Wildwood Pl	0.19mi	6/2.0	2,288 (-2%)	8mo	$90,000	$39	82
30 Chamberlin Dr	0.13mi	5/2.0 (-1)	2,208 (-5%)	5mo	$239,800	$109	77
154 Chamberlin Dr	0.18mi	5/2.0 (-1)	2,182 (-6%)	2mo	$242,400	$111	75
14 Winegar Pl	0.13mi	5/2.5 (-1)	2,469 (+6%)	5mo	$187,000	$76	73
18 Stephenson Ave	0.14mi	6/2.0	1,978 (-15%)	2mo	$226,000	$114	67
17 Dismonda St	0.44mi	6/2.0	2,200 (-5%)	11mo	$230,000	$105	62
132 Edson St	0.36mi	7/3.0 (+1)	2,480 (+7%)	2mo	$210,000	$85	61
260 Indian Church Rd	0.52mi	6/2.0	2,488 (+7%)	4mo	$217,000	$87	61
61 Bellwood Ave	0.48mi	6/2.0	2,134 (-8%)	9mo	$260,000	$122	57
26 Teresa Pl	0.60mi	6/2.0	2,484 (+7%)	10mo	$210,000	$85	52
118 Indian Church Rd	0.54mi	6/2.0	2,552 (+10%)	8mo	$265,851	$104	52
71 Buffum St	0.61mi	5/2.0 (-1)	2,136 (-8%)	6mo	$160,000	$75	48

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: 1.7%
• Equity multiple: 1.06×
• Total profit: $3,532
• Equity at exit: $29,672

10-year hold

• IRR: 11.3%
• Equity multiple: 1.89×
• Total profit: $49,585
• Equity at exit: $17,206

Cash invested: $55,720 (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 14224

• Active inventory: 201
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $2,691 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$440 /mo · $5,282/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$565
• Net cashflow: $559

Break-even live

Break-even rent $1,983

Max offer price $199,000

Occupancy floor 74%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,690
Total (2 units)			$2,691

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-08
   status $199,000 Pending 19 DOM
2. 2026-06-07
   days on market $199,000 Active 19 DOM
3. 2026-06-03
   days on market $199,000 Active 15 DOM
4. 2026-05-15
   listed $199,000 Active 556-char remark
5. 2019-06-05
   soldstatus $180,000 Closed Sale or Rented 489-char remark

   Show marketing remark (489 chars)

   Completely move in ready double in West Seneca schools! Recent exterior updates include- new vinyl siding, new architectural shingle roof, new windows. Upper apartment is renovated with new flooring throughout, updated white kitchen with stainless steel appliances, new bathroom with gleaming white surround and glass door. Electrical, furnaces and hot water tanks all updated, this is a turn key property on a fantastic street! Showings begin at the Open House Sunday, March 3rd, 1-3pm!

6. 2019-06-04
   soldstatus $180,000
7. 2019-04-12
   status Pending Sale 489-char remark

   Show marketing remark (489 chars)

   Completely move in ready double in West Seneca schools! Recent exterior updates include- new vinyl siding, new architectural shingle roof, new windows. Upper apartment is renovated with new flooring throughout, updated white kitchen with stainless steel appliances, new bathroom with gleaming white surround and glass door. Electrical, furnaces and hot water tanks all updated, this is a turn key property on a fantastic street! Showings begin at the Open House Sunday, March 3rd, 1-3pm!

8. 2019-02-25
   listed $189,900 Active 489-char remark

   Show marketing remark (489 chars)

   Completely move in ready double in West Seneca schools! Recent exterior updates include- new vinyl siding, new architectural shingle roof, new windows. Upper apartment is renovated with new flooring throughout, updated white kitchen with stainless steel appliances, new bathroom with gleaming white surround and glass door. Electrical, furnaces and hot water tanks all updated, this is a turn key property on a fantastic street! Showings begin at the Open House Sunday, March 3rd, 1-3pm!

9. 2018-03-21
   soldstatus $57,000
10. 1995-05-31
    soldstatus $91,500

ⓘ 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: $5,282 · $440/mo
• Projected year-2 tax: $5,282 · $440/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 · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,292
• − Mortgage interest: −$11,147
• − Property taxes: −$5,282
• − Insurance: −$995
• − Repairs & maintenance: −$2,583
• − Management: −$2,583
• − Depreciation: −$5,789
• Taxable income: $3,913
• Est. tax owed @ 24.0%: −$939
• After-tax cash flow: $5,772/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: West Seneca Central School District
• NCES district ID: 3630780
• Math proficiency: 49% ▼ -15.00%
• Reading proficiency: 55% ▼ -4.00%
• Median HH income: $54,231
• Composite: 44.83/100
• National rank: #2735
• State rank: #336 of 590 in NY

Livability — West Seneca

• Score: 79/100
• State rank: #130
• US rank: #2089

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Seneca, NY
• City population: 41,101
• Population (ZIP): 41,101

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 (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 3% Black 2%
• Common ancestry: Romanian 22% Lithuanian 2% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 2% Russian/Polish/Slavic 1% 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: ▼ -211.03%
• Current HPI: 303.7523
• 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

+117.5% since first listed

8 events — show timeline

• 2026-06-08 Pending — WNYREIS
• 2026-06-02 Relisted — WNYREIS
• 2026-05-15 Listed $199,000 WNYREIS
• 2019-06-05 Sold (MLS) $180,000 WNYREIS
• 2019-06-04 Sold (Public Records) $180,000 Public Records
• 2019-04-12 Pending — WNYREIS
• 2019-02-25 Listed $189,900 WNYREIS
• 1995-05-31 Sold (Public Records) $91,500 Public Records

Property tax history

+2.3%/yr

Latest (2025): $5,282 · -1.6% YoY. Source: county tax records.