192 Cass Ave · Cheektowaga, NY 14206

$99,900

3 bd · 1.0 ba · 1,258 sqft · SingleFamily public records · 17 Days on market

Built 1915 7,405 sqft lot ↓ 33% since listing

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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 +23.2/30.0
• 1% rule +9.5/10.0
• Appreciation +9.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• Livability +4.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to 192 Cass Avenue in Cheektowaga! This two story home has maintenance free vinyl siding with a large 2.5 car wide driveway. The home features 4 beds and a 1 bath, with 2 bedrooms being on the first floor so it can live like a ranch if you wish. A spacious 16x15 kitchen including all appliances with an island and pantry. The living room and dining room have 9 foot ceilings with hardwoods. Upstairs you will find two more bedrooms and a large 20x15 bonus area that could serve as an extra living space. Walk-in attic access for storage. Outside you will find a large fenced in back yard to enjoy the cool fall evenings. Boiler 2019, Gutters 2021.

Key facts

• Large driveway
• Spacious kitchen
• Walk-in attic access

Tags

• MAINTENANCE FREE VINYL SIDING
• LARGE DRIVEWAY
• SPACIOUS KITCHEN
• WALK-IN ATTIC ACCESS
• LARGE FENCED IN BACK YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $180 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% 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-.
• Cheektowaga-Sloan Union Free School District (urban): math 33% / reading 38% proficiency, ranked #555 of 590 in NY (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 169 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 34% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $9k of equity ($691 loan paydown + $8k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($98k) 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.

Risks & watch-outs

• Watch-outs: property tax is 4.8% of price; built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,401 (1.5% below list)

Questions for the listing agent

1. Built in 1915 — 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 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: 1.45% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.74%
• DSCR: 1.34
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $249,084
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
180 Bright St	0.12mi	3/1.0	1,222 (-3%)	4mo	$242,000	$198	86
29 Frederick St	0.34mi	3/1.5	1,202 (-4%)	3mo	$232,500	$193	72
2302 William St	0.27mi	2/1.0 (-1)	1,208 (-4%)	5mo	$142,000	$118	72
108 Crisfield Ave	0.23mi	3/1.5	1,152 (-8%)	5mo	$220,000	$191	69
218 Alaska St	0.41mi	3/1.0	1,332 (+6%)	3mo	$165,000	$124	69
56 Peoria Ave	0.29mi	3/2.0	1,136 (-10%)	0mo	$260,000	$229	66
39 Jane Dr	0.71mi	3/1.5	1,306 (+4%)	5mo	$250,000	$191	55
30 Jane Dr	0.69mi	3/2.0	1,320 (+5%)	2mo	$255,000	$193	54
83 Patricia Ln	0.62mi	3/1.0	1,120 (-11%)	1mo	$265,000	$237	52
43 Starlite Ave	0.60mi	3/1.0	1,120 (-11%)	4mo	$250,000	$223	51
35 Ceil Dr	0.74mi	3/1.5	1,181 (-6%)	5mo	$260,000	$220	49
104 Starlite Ave	0.66mi	3/1.0	1,120 (-11%)	2mo	$260,000	$232	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

8.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.2%
• Equity multiple: 2.90×
• Total profit: $53,208
• Equity at exit: $76,294

10-year hold

• IRR: 23.6%
• Equity multiple: 6.23×
• Total profit: $146,237
• Equity at exit: $151,823

Cash invested: $27,972 (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 14206

• Home prices YoY: 1.8%
• Active inventory: 169
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,448 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$398 /mo · $4,776/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $180

Break-even live

Break-even rent $1,220

Max offer price $99,900

Occupancy floor 83%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1368 Harlem Rd Buffalo, NY	2.0	1.0	1776	$1,300	$0.73	23d	1	0.19mi
14 Rutland Ave Buffalo, NY	4.0	1.0	1430	$2,200	$1.54	10d	1	0.93mi

Listing history 8 events

1. 2026-04-13
   status Pending
2. 2026-04-02
   status Active
3. 2026-03-30
   status Pending
4. 2026-03-24
   listed $99,900 Active
5. 2026-01-02
   historical
6. 2025-11-26
   price $129,900
7. 2025-11-01
   price $139,900
8. 2025-10-01
   listed $149,900 Active

ⓘ 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: $4,776 · $398/mo
• Projected year-2 tax: $4,776 · $398/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: $17,376
• − Mortgage interest: −$5,596
• − Property taxes: −$4,776
• − Insurance: −$500
• − Repairs & maintenance: −$1,390
• − Management: −$1,390
• − Depreciation: −$2,906
• Taxable income: $818
• Est. tax owed @ 24.0%: −$196
• After-tax cash flow: $1,969/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: Cheektowaga-Sloan Union Free School District
• NCES district ID: 3627000
• Math proficiency: 33% ▼ -16.00%
• Reading proficiency: 38% ▼ -6.00%
• Median HH income: $45,810
• Composite: 30.35/100
• National rank: #6263
• State rank: #555 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): 21,631
• Household income: $50,450
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 841.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 13% Black 12% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10%
• Common ancestry: Romanian 25% Lithuanian 1% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Arabic 2%

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: ▲ 8.06%
• Current HPI: 457.3935
• 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

-33.4% since first listed

8 events — show timeline

• 2026-04-13 Pending — WNYREIS
• 2026-04-02 Relisted — WNYREIS
• 2026-03-30 Pending — WNYREIS
• 2026-03-24 Listed $99,900 WNYREIS
• 2026-01-02 Listing Removed — WNYREIS
• 2025-11-26 Price Changed $129,900 WNYREIS
• 2025-11-01 Price Changed $139,900 WNYREIS
• 2025-10-01 Listed $149,900 WNYREIS

Property tax history

+5.5%/yr

Latest (2025): $4,776 · +0.2% YoY. Source: county tax records.