1662 Broadway · Grandyle Village, NY 14072

$249,900

4 bd · 1.5 ba · 1,257 sqft · SingleFamily public records · 7 Days on market

Built 1962 7,800 sqft lot Est $255k · at est.

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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 +19.5/30.0
• ARV discount +8.4/15.0
• DSCR +6.2/10.0
• 1% rule +5.4/10.0
• Schools +5.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully updated Grand Island home located in quiet neighborhood close to bike paths, schools, playground, state park, East river, and fishermans landing. Easy commute to downtown. Bright/airy home has been well cared for. Newer mechanics/boiler only month old. Updated baths, updated kitchen, laminate flooring, excellent storage space, ample closets. Wood deck less than a year old, perfect place to sit and relax. Home is a must see just move in nothing to do.

Key facts

• Updated kitchen
• Breakfast bar
• 7,800 sq ft lot

Tags

• UPDATED KITCHEN
• FULLY REMODELED BATHROOM
• BREAKFAST BAR
• STAMPED CONCRETE PATIO
• BONUS SPACE OFF GARAGE
• FIRST-FLOOR LAUNDRY OPTION

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $282 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Cap rate 7.6% vs local median 4.5% in Grandyle Village — 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 71/100 on livability (#416 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A-; Watch: crime C-, amenities F, commute F.
• Grand Island Central School District (suburban): math 54% / reading 57% proficiency, ranked #263 of 590 in NY (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 129 active listings in the ZIP; high-income renter base; 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 12y 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 $111k; list at $250k implies a 125% gain — meaningful room to come down on a strong offer.

Recommended offer $249,900

Questions for the listing agent

1. Built in 1962 — 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. 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.
4. 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.
5. 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: 1.04% ✓
• Cap rate: 7.65%
• Cash-on-cash: 4.84%
• DSCR: 1.22
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $255,171
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1085 E Park Rd	0.04mi	3/1.5 (-1)	1,242 (-1%)	3mo	$254,000	$205	89
65 Crescent Rd	0.05mi	3/1.0 (-1)	1,308 (+4%)	3mo	$195,000	$149	81
1079 Carter Dr	0.26mi	4/2.0	1,294 (+3%)	2mo	$219,900	$170	79
49 Elsie Ln	0.17mi	3/1.5 (-1)	1,302 (+4%)	10mo	$257,500	$198	73
178 Marilyn Dr	0.42mi	4/2.5	1,287 (+2%)	1mo	$261,000	$203	71
88 Elsie Ln	0.12mi	3/1.0 (-1)	1,365 (+9%)	7mo	$249,000	$182	67
18 Woodlee Ln	0.34mi	3/2.0 (-1)	1,186 (-6%)	4mo	$145,000	$122	64
108 Jenell Dr	0.44mi	3/2.0 (-1)	1,221 (-3%)	7mo	$234,000	$192	62
90 Schwegler Rd	0.41mi	3/1.5 (-1)	1,287 (+2%)	12mo	$270,000	$210	62
1600 Red Jacket Rd	0.49mi	3/1.0 (-1)	1,205 (-4%)	3mo	$280,000	$232	61
208 Hennepin Rd	0.46mi	3/1.0 (-1)	1,222 (-3%)	14mo	$275,000	$225	55
1488 Red Jacket Rd	0.59mi	3/1.0 (-1)	1,320 (+5%)	13mo	$292,000	$221	46

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: -8.7%
• Equity multiple: 0.68×
• Total profit: $-22,442
• Equity at exit: $37,261

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $3,888
• Equity at exit: $21,607

Cash invested: $69,972 (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 14072

• Active inventory: 129
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,599 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$356 /mo · $4,276/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$546
• Net cashflow: $282

Break-even live

Break-even rent $2,242

Max offer price $249,900

Occupancy floor 84%

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-04-22
   status Pending
2. 2026-04-15
   listed $249,900 Active
3. 2014-10-24
   soldstatus $111,000 466-char remark

   Show marketing remark (466 chars)

   Beautifully updated Grand Island home located in quiet neighborhood close to bike paths, schools, playground, state park, East river, and fishermans landing. Easy commute to downtown. Bright/airy home has been well cared for. Newer mechanics/boiler only month old. Updated baths, updated kitchen, laminate flooring, excellent storage space, ample closets. Wood deck less than a year old, perfect place to sit and relax. Home is a must see just move in nothing to do.

4. 2014-10-22
   soldstatus $111,000
5. 2014-06-06
   listed $109,900 466-char remark

   Show marketing remark (466 chars)

   Beautifully updated Grand Island home located in quiet neighborhood close to bike paths, schools, playground, state park, East river, and fishermans landing. Easy commute to downtown. Bright/airy home has been well cared for. Newer mechanics/boiler only month old. Updated baths, updated kitchen, laminate flooring, excellent storage space, ample closets. Wood deck less than a year old, perfect place to sit and relax. Home is a must see just move in nothing to do.

6. 2014-03-27
   listed $114,999
7. 2007-08-16
   soldstatus $101,760
8. 2006-10-06
   soldstatus $73,000
9. 1994-03-31
   soldstatus $35,000

ⓘ 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: $4,276 · $356/mo
• Projected year-2 tax: $4,276 · $356/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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,191
• − Mortgage interest: −$13,998
• − Property taxes: −$4,276
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,495
• − Management: −$2,495
• − Depreciation: −$7,270
• Taxable loss: −$594
• Est. tax savings @ 24.0%: +$142
• After-tax cash flow: $3,531/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: Grand Island Central School District
• NCES district ID: 3607020
• Math proficiency: 54% ▼ -15.00%
• Reading proficiency: 57% ▼ -1.00%
• Median HH income: $77,014
• Composite: 49.92/100
• National rank: #1938
• State rank: #263 of 590 in NY

Livability — Grandyle Village

• Score: 71/100
• State rank: #416
• US rank: #7220

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grandyle Village, NY
• County: Erie County · 714,559 people
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 21,488
• Household income: $115,991
• Rent vs Own: 18.4% rent · 81.6% own
• Severe rent burden: 283.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 4% Hispanic / Latino 3% Black 2% Asian 2%
• Common ancestry: Romanian 16% Lithuanian 3% Slovak 3%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 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: ▼ -218.87%
• Current HPI: 332.5322
• 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

+614.0% since first listed

9 events — show timeline

• 2026-04-22 Pending — WNYREIS
• 2026-04-15 Listed $249,900 WNYREIS
• 2014-10-24 Sold (MLS) $111,000 WNYREIS
• 2014-10-22 Sold (Public Records) $111,000 Public Records
• 2014-06-06 Listed $109,900 WNYREIS
• 2014-03-27 Listed $114,999 WNYREIS
• 2007-08-16 Sold (Public Records) $101,760 Public Records
• 2006-10-06 Sold (Public Records) $73,000 Public Records
• 1994-03-31 Sold (Public Records) $35,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $4,276 · +9.4% YoY. Source: county tax records.