99 S Prince Dr · Cheektowaga, NY 14043

$389,900

5 bd · 3.0 ba · 2,800 sqft · MultiFamily public records · 23 Days on market

Built 1972 7,405 sqft lot $139/sqft · 31% below area Est $564k · 31% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.6/30.0
• 1% rule +5.0/10.0
• DSCR +4.4/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• Schools +3.8/10.0
• 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

WELCOME BACK TO 99 South Prince Dr! Better than ever and ready for your own personal touches! Owner occupied for 30 years and impeccably maintained. Lower has 3BR/1.5 bath. Large beautiful kitchen with granite countertops/island and lots of cupboard space. Cathedral ceilings in eating area with crown molding accents in LR give this home a fresh airy feel. Sliding glass door from family rm leads to 3-season rm that looks out to partially fenced yard w/ tree-lined back. Partially finished basement, 2.5 car garage, most lower windows 2024, roof 2018. Deluxe vinyl throughout. Upper is tenant occupied on month to month basis and provides kitchen appliances and room for your washer and dryer in b

Key facts

• Tree-lined back
• Granite countertops
• 7,405 sq ft lot

Tags

• GRANITE COUNTERTOPS
• CROWN MOLDING ACCENTS
• PARTIALLY FENCED YARD
• TREE-LINED BACK
• PARTIALLY FINISHED BASEMENT

Property features AI

Finance

• Other: Two separate gas meters; Two separate electric meters; Two total units in the building
• Financial info: Operating expenses include water/sewer; Owner pays hot water; rent includes hot water; One unit reported rent of $1,000

Exterior

• Parking: Attached garage with approximately 2.5 spaces; Concrete driveway; Garage door opener
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Residential 2-unit property; Existing (previously built) condition
• Construction: Brick and frame construction with vinyl siding; Asphalt shingle roof; Copper plumbing; Full, partially finished basement
• Exterior features: Partial fencing; Patio; Porch (Unit 2)

Interior

• Kitchen: Unit 1: Dishwasher, Oven/Range, Refrigerator, Eat-in kitchen; Unit 2: Dishwasher, Refrigerator, Microwave, Eat-in kitchen
• Bedrooms: One unit with 2 bedrooms; One unit with 3 bedrooms
• Flooring: Luxury vinyl flooring
• Bathrooms: Two full bathrooms and one half bathroom total (across units); Unit breakdown: one unit has 1 full bath; other unit has 1 full bath and 1 half bath
• Heating & cooling: Central air conditioning; Heating: Electric, Gas, Baseboard
• Interior features: Leaded glass windows; Sliding glass doors
• Laundry & utility: Gas water heater

🏷️ Possibly a rental listed for sale. The $389,900 price doesn't fit this home's estimated sale value (~$563,950) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $390k.

Deal economics

• At list price, monthly cash flow is $92 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $390k).
• Recommended offer: $384k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.6% 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-.
• Depew Union Free School District (suburban): math 39% / reading 50% proficiency, ranked #461 of 590 in NY (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.8%/yr); 124 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,911/mo this rent would consume 63% of the median local household income ($74k/yr) (locally 854% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($384k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $103k; list at $390k implies a 279% gain — meaningful room to come down on a strong offer.

Recommended offer $384,051 (1.5% below list)

Questions for the listing agent

1. Built in 1972 — 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 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?
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 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: 1.00% ✓
• Cap rate: 6.57%
• Cash-on-cash: 1.01%
• DSCR: 1.04
• GRM: 8.3

CMA / ARV

• ARV (median comp): $563,950
• List price: $389,900
• Delta: -30.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
180 Prince Dr	0.14mi	5/2.5	2,484 (-11%)	6mo	$365,000	$147	68
94 S Prince Dr	0.03mi	5/2.5	2,552 (-9%)	19mo	$420,000	$165	66
132 N Prince Dr	0.17mi	4/2.0 (-1)	2,424 (-13%)	7mo	$387,000	$160	55
100 Sebring Dr	0.65mi	6/3.0 (+1)	2,488 (-11%)	7mo	$360,000	$145	41
74 Lemans Dr	0.74mi	6/2.0 (+1)	2,380 (-15%)	8mo	$360,000	$151	25

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 · 5.75% rent growth · sell at horizon

5-year hold

• IRR: -11.3%
• Equity multiple: 0.58×
• Total profit: $-45,987
• Equity at exit: $58,135

10-year hold

• IRR: 1.9%
• Equity multiple: 1.15×
• Total profit: $16,735
• Equity at exit: $33,711

Cash invested: $109,172 (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 14043

• Home prices YoY: -34.2%
• Rents YoY: 5.8%
• Active inventory: 124
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $3,911 medium
• Mortgage (P&I): −$2,045
• Tax from tax record: −$791 /mo · $9,492/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$821
• Net cashflow: $92

Break-even live

Break-even rent $3,795

Max offer price $389,900

Occupancy floor 93%

Sensitivity live

Price	-10% $312	-5% $202	+0% $92	+5% $-19	+10% $-129
Rent	-10% $-217	-5% $-63	+0% $92	+5% $246	+10% $400
Rate	-1.0pp $288	-0.5pp $191	base $92	+0.5pp $-10	+1.0pp $-112

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

Units	Beds	Baths	Est. rent
1× unit	3	1.5	$2,111
1× unit	2	1	$1,801
Total (2 units)			$3,911

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: $97,475
• Closing costs: $11,697
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-10
   status $389,900 Pending 23 DOM
2. 2026-06-09
   days on market $389,900 Active 23 DOM
3. 2026-06-08
   days on market $389,900 Active 22 DOM
4. 2026-06-07
   days on market $389,900 Active 21 DOM
5. 2026-06-03
   days on market $389,900 Active 17 DOM
6. 2026-06-02
   days on market $389,900 Active 16 DOM
7. 2026-06-01
   days on market $389,900 Active 15 DOM
8. 2026-06-01
   status $389,900 Active 14 DOM
9. 2026-05-15
   listed $389,900 Active 1107-char remark
10. 2025-05-14
    listed $399,900 Active
11. 2006-12-22
    soldstatus $103,000

ⓘ 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: $9,492 · $791/mo
• Projected year-2 tax: $9,492 · $791/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 16 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: $46,932
• − Mortgage interest: −$21,840
• − Property taxes: −$9,492
• − Insurance: −$1,950
• − Repairs & maintenance: −$3,755
• − Management: −$3,755
• − Depreciation: −$11,343
• Taxable loss: −$5,202
• Est. tax savings @ 24.0%: +$1,248
• After-tax cash flow: $2,347/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: Depew Union Free School District
• NCES district ID: 3609030
• Math proficiency: 39% ▼ -19.00%
• Reading proficiency: 50% ▼ -1.00%
• Median HH income: $51,488
• Composite: 38.33/100
• National rank: #4224
• State rank: #461 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): 25,098
• Household income: $74,112
• Rent vs Own: 27.9% rent · 72.1% own
• Severe rent burden: 854.0

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 (91%)
• Race & ethnicity: White 91% Hispanic / Latino 3% Two or more races 3% Black 2% Asian 1%
• Common ancestry: Romanian 30% Lithuanian 2% Slovak 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 91% English-only · Arabic 3% Russian/Polish/Slavic 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: ▼ -152.13%
• Current HPI: 292.1082
• Rent YoY: ▲ 5.75%
• 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

+278.5% since first listed

6 events — show timeline

• 2026-06-09 Pending — WNYREIS
• 2026-05-31 Relisted — WNYREIS
• 2026-05-30 Pending — WNYREIS
• 2026-05-15 Listed $389,900 WNYREIS
• 2025-05-14 Listed $399,900 WNYREIS
• 2006-12-22 Sold (Public Records) $103,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $9,492 · +2.4% YoY. Source: county tax records.