3993 Union Rd · Cheektowaga, NY 14225

$199,000

4 bd · 2.5 ba · 2,836 sqft · MultiFamily public records · 1 Days on market

Built 1938 0.50 ac lot

---

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
• Schools +5.9/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Opportunity awaits at 3993 Union Rd in Cheektowaga! This unique property includes an additional . 21-acre lot on Orchard Place, bringing the total site size to approximately . 50 acres with ample parking and endless possibilities. Featuring 2,836 square feet, this spacious home was originally configured as a triplex before being converted into a large single-family residence. The flexible layout offers tremendous potential for an owner-occupant, investor, or entrepreneur looking to customize the property to fit their vision. A true diamond in the rough, this property is ready for renovation and presents a rare opportunity to create value through updates and improvements. Potential commercia

Key facts

• Total site size
• Flexible layout
• Additional lot

Tags

• ADDITIONAL LOT
• TOTAL SITE SIZE
• FLEXIBLE LAYOUT
• POTENTIAL COMMERCIAL USES
• HIGHLY VISIBLE LOCATION
• EASY ACCESS TO SHOPPING

Property features AI

Exterior

• Parking: Attached garage with garage door opener; Electricity to garage; Circular driveway; Approximately 2.5 garage spaces
• Utilities: Electricity connected (circuit breakers); Public water connected; Sewer connected; Cable available; High-speed internet available
• Home design: 2-story residence; Existing (previously built) condition; Rectangular lot; Road frontage on a main thoroughfare
• Construction: Aluminum and vinyl siding; Copper plumbing; Architectural shingle roof; Poured foundation
• Exterior features: Blacktop driveway; Fully fenced yard; Patio; Shed(s) and storage

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Refrigerator; Appliances negotiable
• Bedrooms: Bedroom 1 on second level; Bedroom 2 on second level; Bedroom 3 on second level; Additional room (second level)
• Flooring: Carpet; Tile; Varies
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Gas forced air heating; Ductless heating options; Central air conditioning; Ductless cooling options
• Interior features: Thermal windows; Sliding glass doors; Cedar closet(s); Separate/formal dining room; Eat-in kitchen; Separate/formal living room; Great room; Living/dining room; Programmable thermostat
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $199k).
• Cap rate 16.1% 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-Maryvale Union Free School District (urban): math 67% / reading 73% proficiency, ranked #154 of 590 in NY (top 26%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 207 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $4,191/mo this rent would consume 75% of the median local household income ($67k/yr) (locally 991% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $100k; list at $199k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $199,000

Questions for the listing agent

1. Built in 1938 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.11% ✓
• Cap rate: 16.05%
• Cash-on-cash: 34.85%
• DSCR: 2.55
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 30.4%
• Equity multiple: 2.28×
• Total profit: $71,081
• Equity at exit: $29,672

10-year hold

• IRR: 37.7%
• Equity multiple: 4.51×
• Total profit: $195,664
• Equity at exit: $17,206

Cash invested: $55,720 (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 14225

• Home prices YoY: -27.3%
• Active inventory: 207
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $4,191 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$566 /mo · $6,793/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$880
• Net cashflow: $1,618

Break-even live

Break-even rent $2,143

Max offer price $199,000

Occupancy floor 56%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	2	$4,191
Total (3 units)			$4,191

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
758 S Huth Rd Buffalo, NY	5.0	2.0	2235	$2,800	$1.25	43d	1	1.15mi

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $199,000 Active 1 DOM

ⓘ 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: $6,793 · $566/mo
• Projected year-2 tax: $6,793 · $566/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $50,292
• − Mortgage interest: −$11,147
• − Property taxes: −$6,793
• − Insurance: −$995
• − Repairs & maintenance: −$4,023
• − Management: −$4,023
• − Depreciation: −$5,789
• Taxable income: $17,521
• Est. tax owed @ 24.0%: −$4,205
• After-tax cash flow: $15,214/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-Maryvale Union Free School District
• NCES district ID: 3618600
• Math proficiency: 67% ▲ 11.00%
• Reading proficiency: 73% ▲ 23.00%
• Median HH income: $46,537
• Composite: 59.02/100
• National rank: #960
• State rank: #154 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): 33,620
• Household income: $67,237
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 991.0

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: Predominantly White (74%)
• Race & ethnicity: White 74% Black 13% Two or more races 7% Hispanic / Latino 4% Asian 3%
• Common ancestry: Romanian 21% Lithuanian 3% Iranian 1%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 92% English-only · Other Indo-European 2% Spanish 2% Arabic 1%

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: ▼ -120.26%
• Current HPI: 320.6248
• 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

+99.0% since first listed

2 events — show timeline

• 2026-06-18 Listed $199,000 WNYREIS
• 1998-11-13 Sold (Public Records) $100,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $6,793 · +2.0% YoY. Source: county tax records.