72 Parkview Ct

Lancaster, NY 14086

$157,900D

2 bd · 1.5 ba · 914 sqft · Built 1974 · Townhouse · Pending · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,606/mo
• Mortgage (P&I): −$828
• Tax + insurance: −$288
• HOA: −$225
• Vac / Maint / Mgmt: −$337
• Net cashflow: $-73/mo
• Annual: $-871/yr
• Cap rate: 5.74%
• Cash-on-cash: -1.97%
• DSCR: 0.91
• 1% rule: 1.02%
• Cash to close: $44,212

Investor read

• This is a 2-bed/1.5-bath townhouse listed at $158k.
• At list price, monthly cash flow is $-73 ($-871/yr) — negative.
• To cash-flow at today's rent, offer at most $145k (8.1% below list).
• Meets the 1% rule at list price ($2k rent vs $158k).
• It's been on market 41 days — a 3% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $145k (8.1% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#164 in NY, #2,566 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Lancaster Central School District (suburban): math 57% / reading 61% proficiency, ranked #234 of 590 in NY (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 152 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• 2 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.
• Current owner paid $47k; list at $158k implies a 236% gain — meaningful room to come down on a strong offer.
• Cap rate 5.7% vs local median 2.9% in Lancaster — 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.

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 41 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 A-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.