6242 Corwin Sta · Newfane, NY 14108

$79,900

2 bd · 2.0 ba · 960 sqft · SingleFamily · 14 Days on market

Built 1991 435 sqft lot

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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 +24.8/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Schools +5.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2 bedroom, 2 bath home is just something you won't be able to wait on. This home includes an open floor plan, cathedral ceilings, a master bath and TONS of storage space. The roof is only a year old along with the furnace. The water heater is a couple years old. WHAT A DEAL!

Key facts

• Open floor plan
• Attached garage
• Spacious shed

Tags

• OPEN FLOOR PLAN
• FULLY EQUIPPED KITCHEN
• ATTACHED GARAGE
• BUILT-IN STORAGE SPACE
• LANDSCAPED YARD
• SPACIOUS SHED

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $168 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($912 rent vs $80k).

Location & tenants

• Location reads 66/100 on livability (#640 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment C-, amenities F, commute F.
• Newfane Central School District (rural): math 51% / reading 66% proficiency, ranked #257 of 590 in NY (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 33 active listings in the ZIP; 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 $552 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.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 9y 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 $17k; list at $80k implies a 370% gain — meaningful room to come down on a strong offer.

Recommended offer $79,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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: 1.14% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.03%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $190,080
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6229 Dale Rd	0.30mi	3/2.0 (+1)	1,008 (+5%)	24mo	$200,000	$198	53

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: -2.6%
• Equity multiple: 0.90×
• Total profit: $-2,212
• Equity at exit: $11,913

10-year hold

• IRR: 7.1%
• Equity multiple: 1.53×
• Total profit: $11,935
• Equity at exit: $6,908

Cash invested: $22,372 (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 14108

• Home prices YoY: -3.9%
• Active inventory: 33
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $912 medium
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$192
• Net cashflow: $168

Break-even live

Break-even rent $699

Max offer price $79,900

Occupancy floor 77%

Sensitivity live

Price	-10% $224	-5% $196	+0% $168	+5% $141	+10% $113
Rent	-10% $96	-5% $132	+0% $168	+5% $204	+10% $240
Rate	-1.0pp $209	-0.5pp $189	base $168	+0.5pp $148	+1.0pp $127

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-03-21
   status Pending
2. 2026-03-05
   listed $79,900 Active
3. 2017-03-24
   soldstatus $17,000 Closed Sale or Rented 280-char remark

   Show marketing remark (280 chars)

   This 2 bedroom, 2 bath home is just something you won't be able to wait on. This home includes an open floor plan, cathedral ceilings, a master bath and TONS of storage space. The roof is only a year old along with the furnace. The water heater is a couple years old. WHAT A DEAL!

4. 2017-03-24
   soldstatus $17,000 Closed Sale or Rented 280-char remark

   Show marketing remark (280 chars)

   This 2 bedroom, 2 bath home is just something you won't be able to wait on. This home includes an open floor plan, cathedral ceilings, a master bath and TONS of storage space. The roof is only a year old along with the furnace. The water heater is a couple years old. WHAT A DEAL!

5. 2017-03-17
   status Pending Sale 280-char remark

   Show marketing remark (280 chars)

   This 2 bedroom, 2 bath home is just something you won't be able to wait on. This home includes an open floor plan, cathedral ceilings, a master bath and TONS of storage space. The roof is only a year old along with the furnace. The water heater is a couple years old. WHAT A DEAL!

6. 2017-03-17
   status Pending Sale 280-char remark

   Show marketing remark (280 chars)

   This 2 bedroom, 2 bath home is just something you won't be able to wait on. This home includes an open floor plan, cathedral ceilings, a master bath and TONS of storage space. The roof is only a year old along with the furnace. The water heater is a couple years old. WHAT A DEAL!

7. 2017-01-09
   listed $19,900 Active 280-char remark

   Show marketing remark (280 chars)

   This 2 bedroom, 2 bath home is just something you won't be able to wait on. This home includes an open floor plan, cathedral ceilings, a master bath and TONS of storage space. The roof is only a year old along with the furnace. The water heater is a couple years old. WHAT A DEAL!

8. 2017-01-09
   listed $19,900 Active 280-char remark

   Show marketing remark (280 chars)

   This 2 bedroom, 2 bath home is just something you won't be able to wait on. This home includes an open floor plan, cathedral ceilings, a master bath and TONS of storage space. The roof is only a year old along with the furnace. The water heater is a couple years old. WHAT A DEAL!

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,944
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$876
• − Management: −$876
• − Depreciation: −$2,324
• Taxable income: $795
• Est. tax owed @ 24.0%: −$191
• After-tax cash flow: $1,829/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: Newfane Central School District
• NCES district ID: 3620760
• Math proficiency: 51% ▼ -5.00%
• Reading proficiency: 66% ▲ 10.00%
• Median HH income: $53,029
• Composite: 50.07/100
• National rank: #1911
• State rank: #257 of 590 in NY

Livability — Newfane

• Score: 66/100
• State rank: #640
• US rank: #11907

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newfane, NY
• Population (ZIP): 5,301

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 (95%)
• Race & ethnicity: White 95% Two or more races 3%
• Common ancestry: Romanian 5% Lithuanian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · 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: ▼ -10.96%
• Current HPI: 272.2811
• 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

+301.5% since first listed

8 events — show timeline

• 2026-03-21 Pending — WNYREIS
• 2026-03-05 Listed $79,900 WNYREIS
• 2017-03-24 Sold (MLS) $17,000 UNYREIS
• 2017-03-24 Sold (MLS) $17,000 WNYREIS
• 2017-03-17 Pending — UNYREIS
• 2017-03-17 Pending — WNYREIS
• 2017-01-09 Listed $19,900 UNYREIS
• 2017-01-09 Listed $19,900 WNYREIS