16 N Hill Dr

West Seneca, NY 14224

$259,900D-

3 bd · 1.5 ba · 1,707 sqft · Built 1990 · Townhouse · Active · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,355/mo
• Mortgage (P&I): −$1,363
• Tax + insurance: −$567
• HOA: −$263
• Vac / Maint / Mgmt: −$495
• Net cashflow: $-332/mo
• Annual: $-3,982/yr
• Cap rate: 4.76%
• Cash-on-cash: -5.47%
• DSCR: 0.76
• 1% rule: 0.91%
• Cash to close: $72,772

Investor read

• This is a 3-bed/1.5-bath townhouse listed at $260k.
• At list price, monthly cash flow is $-332 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $201k (22.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (9.4% below list).
• It's been on market 39 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $201k (22.6% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#130 in NY, #2,089 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A-; Watch: amenities D, commute F.
• West Seneca Central School District (suburban): math 49% / reading 55% proficiency, ranked #336 of 590 in NY (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 202 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).
• Current owner paid $107k; list at $260k implies a 143% gain — meaningful room to come down on a strong offer.
• Cap rate 4.8% vs local median 3.7% in West Seneca — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 39 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.