5041 Reiter Rd #21 · East Aurora, NY 14052

$69,990

3 bd · 2.0 ba · 1,248 sqft · SingleFamily · 40 Days on market

Built 1987

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Rare find! Bright and airy double-wide mobile home in Circle Court featuring an open floor plan and cathedral ceilings. This well-maintained 3-bed, 2-bath home includes a second-layer roof (2024), new vanity cabinet and flooring 2025 in one of the baths, and an enclosed porch. Additional features include central air, two storage sheds, and all appliances: refrigerator, stove, washer, dryer, and dishwasher included as-is. Located in the desirable Iroquois School District

Key facts

• Built 1987
• Listed 40 days

Property features AI

Finance

• HOA & community: Land lease: $380

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: Single-story; Double wide mobile home (Pine Grove); Resale condition; Corner, rectangular lot
• Construction: Vinyl siding; Asphalt roof; Existing structure
• Exterior features: Blacktop driveway; Deck; Enclosed porch; Open porch; Shed(s) / storage

Interior

• Kitchen: Electric oven and electric range; Refrigerator; Pantry
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet; Laminate; Vinyl; Varies
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Ceiling fans; Cathedral ceilings; Separate/formal dining room; Entrance foyer; Separate/formal living room; Pantry; Skylights; Primary suite; Bedroom on main level; Main level primary
• Laundry & utility: Main level laundry; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $970 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 22.9% vs local median 1.8% in East Aurora — 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 82/100 on livability (#81 in NY, #1,241 nationally) — a professional / high-income tenant draw. Strengths: schools A+, employment A+, housing A+; Watch: cost of living C-, commute F.
• Iroquois Central School District (rural): math 57% / reading 68% proficiency, ranked #178 of 590 in NY (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 90 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 $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 4 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 $28k; list at $70k implies a 150% gain — meaningful room to come down on a strong offer.

Recommended offer $67,890 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
4. 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.
5. 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.
6. 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: 2.63% ✓
• Cap rate: 22.92%
• Cash-on-cash: 59.38%
• DSCR: 3.64
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 58.1%
• Equity multiple: 3.57×
• Total profit: $50,446
• Equity at exit: $10,436

10-year hold

• IRR: 62.9%
• Equity multiple: 7.31×
• Total profit: $123,565
• Equity at exit: $6,051

Cash invested: $19,597 (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 14052

• Active inventory: 90
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,840 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $970

Break-even live

Break-even rent $612

Max offer price $69,990

Occupancy floor 42%

Sensitivity live

Price	-10% $1,018	-5% $994	+0% $970	+5% $945	+10% $921
Rent	-10% $824	-5% $897	+0% $970	+5% $1,042	+10% $1,115
Rate	-1.0pp $1,005	-0.5pp $987	base $970	+0.5pp $952	+1.0pp $933

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: $17,498
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-14
   status Pending
2. 2026-04-03
   listed $69,990 Active
3. 2025-12-25
   status Pending
4. 2025-12-15
   listed $69,990 Active
5. 2025-11-17
   listed $69,990 Active
6. 2013-12-11
   soldstatus $28,000
7. 2013-09-23
   listed $34,900

ⓘ 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: $22,076
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,766
• − Management: −$1,766
• − Depreciation: −$2,036
• Taxable income: $11,188
• Est. tax owed @ 24.0%: −$2,685
• After-tax cash flow: $8,951/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: Iroquois Central School District
• NCES district ID: 3615360
• Math proficiency: 57% ▼ -17.00%
• Reading proficiency: 68% ▲ 8.00%
• Median HH income: $74,111
• Composite: 55.41/100
• National rank: #1251
• State rank: #178 of 590 in NY

Livability — East Aurora

• Score: 82/100
• State rank: #81
• US rank: #1241

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 17,501

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 (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Romanian 13% Lithuanian 3% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Arabic 2% Spanish 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: ▼ -212.44%
• Current HPI: 327.8237
• 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

+100.5% since first listed

7 events — show timeline

• 2026-05-14 Pending — WNYREIS
• 2026-04-03 Listed $69,990 WNYREIS
• 2025-12-25 Pending — WNYREIS
• 2025-12-15 Listed $69,990 WNYREIS
• 2025-11-17 Listed $69,990 WNYREIS
• 2013-12-11 Sold (MLS) $28,000 WNYREIS
• 2013-09-23 Listed $34,900 WNYREIS