Seneca Plan · South Lockport, NY 14094

$117,900

3 bd · 2.0 ba · 1,404 sqft · Manufactured · 59 Days on market

Good condition

---

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
• Condition / age +4.0/5.0
• Schools +3.9/10.0
• Rent growth +3.4/5.0
• Livability +3.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to The Woodlands an all age active and vibrant community, where you can find yourself in your dream home. We have a stunning 2021 3 bed, 2 bath home for sale featuring 1404.00 sq ft of beautifully designed living space. Located near the city of Lockport, this property offers the perfect blend of modern amenities and timeless charm. Step inside to find an open-concept floor plan, vinyl floors, and plenty of natural light. The kitchen contains sleek black appliances, custom cabinetry, and plenty of counter space, perfect for both everyday living and entertaining. The spacious primary suite offers a peaceful retreat, complete with walk-in shower, walk-in closet, and a linen closet. Add

Key facts

• Listed 59 days

Property features AI

Finance

• Other: Address: 6237 South Transit, Lockport NY 14094
• Financial info: List price $117,900

Exterior

• Home design: Seneca plan (new construction plan)

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Open living area of 1,404 square feet

🏗️ New construction. The $117,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $63,180.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $118k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $738 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $118k).
• Recommended offer: $114k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.3% 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); 362 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $437 of loan paydown is wiped out by about $2k 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 $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($114k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,363 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 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 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: 2.35% ✓
• Cap rate: 20.32%
• Cash-on-cash: 50.09%
• DSCR: 3.23
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $63,180
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
525 Applewood Dr	0.09mi	2/2.0 (-1)	1,400 (-0%)	6mo	$50,000	$36	86
519 Applewood Dr #519	0.08mi	4/2.0 (+1)	1,456 (+4%)	5mo	$42,500	$29	81
643 Birchwood Dr	0.23mi	3/2.0	1,366 (-3%)	6mo	$69,000	$51	80
433 Chestnut Dr	0.22mi	3/2.0	1,344 (-4%)	5mo	$55,000	$41	78
901 Hollywood Dr	0.30mi	3/2.0	1,456 (+4%)	2mo	$82,000	$56	78
1009 Ridgewood	0.34mi	3/2.0	1,461 (+4%)	1mo	$50,000	$34	77
1070 Fernwood Dr	0.43mi	3/2.0	1,344 (-4%)	5mo	$72,000	$54	69
1172 Underwood Ct	0.31mi	3/2.0	1,568 (+12%)	5mo	$80,000	$51	61
149 Crestwood Dr	0.33mi	3/2.0	1,248 (-11%)	7mo	$25,000	$20	60
210 Ash St	0.43mi	3/2.0	1,216 (-13%)	0mo	$75,000	$62	57
1218 Maplewood Dr	0.50mi	3/2.0	1,568 (+12%)	0mo	$70,000	$45	57
464 Jim Kelly Dr	0.37mi	2/2.0 (-1)	1,216 (-13%)	2mo	$55,000	$45	54

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: 48.6%
• Equity multiple: 3.14×
• Total profit: $37,822
• Equity at exit: $9,420

10-year hold

• IRR: 54.4%
• Equity multiple: 6.53×
• Total profit: $97,781
• Equity at exit: $5,463

Cash invested: $17,690 (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: 362
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,487 medium
• Mortgage (P&I): −$331
• Tax est. 1.5%: −$79 /mo · $948/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $738

Break-even live

Break-even rent $553

Max offer price $63,180

Occupancy floor 45%

Sensitivity live

Price	-10% $782	-5% $760	+0% $738	+5% $717	+10% $695
Rent	-10% $621	-5% $680	+0% $738	+5% $797	+10% $856
Rate	-1.0pp $770	-0.5pp $754	base $738	+0.5pp $722	+1.0pp $705

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: $15,795
• Closing costs: $1,895
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5834 S Transit Rd Lockport, NY	2.0	1.0	1200	$1,600	$1.33	3d	1	1.38mi

Listing history 16 events

1. 2026-06-21
   days on market $117,900 Active 59 DOM
2. 2026-06-18
   days on market $117,900 Active 56 DOM
3. 2026-06-17
   days on market $117,900 Active 55 DOM
4. 2026-06-16
   days on market $117,900 Active 54 DOM
5. 2026-06-15
   days on market $117,900 Active 53 DOM
6. 2026-06-13
   days on market $117,900 Active 51 DOM
7. 2026-06-13
   days on market $117,900 Active 50 DOM
8. 2026-06-10
   days on market $117,900 Active 48 DOM
9. 2026-06-09
   days on market $117,900 Active 47 DOM
10. 2026-06-08
    days on market $117,900 Active 46 DOM
11. 2026-06-07
    days on market $117,900 Active 45 DOM
12. 2026-06-05
    days on market $117,900 Active 42 DOM
13. 2026-06-03
    days on market $117,900 Active 41 DOM
14. 2026-06-02
    days on market $117,900 Active 40 DOM
15. 2026-06-01
    days on market $117,900 Active 39 DOM
16. 2026-05-31
    days on market $117,900 Active 38 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 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥94°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: $17,848
• − Mortgage interest: −$3,539
• − Property taxes: −$948
• − Insurance: −$316
• − Repairs & maintenance: −$1,428
• − Management: −$1,428
• − Depreciation: −$1,838
• Taxable income: $8,352
• Est. tax owed @ 24.0%: −$2,004
• After-tax cash flow: $6,856/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

Good 80/100 None rehab

This move-in-ready manufactured home in Seneca Plan, South Lockport, NY, offers a good condition with a well-maintained exterior and interior. It features a spacious kitchen, two bathrooms, and a large living area. The home is located in a vibrant community with modern amenities and ample natural light. Potential buyers and renters can benefit from updates such as painting, kitchen backsplash, and smart home features to further enhance its value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Resale Updating the kitchen backsplash — A modern backsplash can add value and appeal to potential buyers.
• Resale Upgrading the flooring in the bathrooms — High-quality flooring can improve the overall look and feel of the home.
• Both Adding smart home features — Smart home features can increase convenience and appeal to both buyers and renters.
• Both Landscaping improvements — Enhanced landscaping can boost curb appeal and attract more potential buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Resale Updating the kitchen backsplash — A modern backsplash can add value and appeal to potential buyers. ↑
• Resale Upgrading the flooring in the bathrooms — High-quality flooring can improve the overall look and feel of the home. ↑
• Both Adding smart home features — Smart home features can increase convenience and appeal to both buyers and renters. ↑
• Both Landscaping improvements — Enhanced landscaping can boost curb appeal and attract more potential buyers and renters. ↑

ⓘ 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