240 Blackstone Blvd · Tonawanda Town, NY 14150

$199,999

2 bd · 1.0 ba · 1,188 sqft · SingleFamily public records · 2 Days on market

Built 1953 6,000 sqft lot Est $263k · 24% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +12.7/30.0
• Rent growth +4.2/5.0
• 1% rule +4.1/10.0
• Schools +3.9/10.0
• DSCR +3.8/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 240 Blackstone Boulevard - a charming Cape Cod offering convenient first-floor living with endless potential! This well-maintained home features 2 bedrooms and 1 full bath on the first floor, making it ideal for those seeking single-floor living. Beautiful hardwood floors run throughout the home, including beneath the carpet in the spacious living room. The thoughtfully designed kitchen features abundant oak cabinetry and ample space for dining. The unfinished second story presents an excellent opportunity to expand, with potential for additional bedrooms, a home office, or bonus living space. Outside, you’ll find an oversized 2.5-car garage featuring a custom 18-foot garag

Key facts

• Oak cabinetry
• Custom garage door
• First floor living

Tags

• FIRST FLOOR LIVING
• HARDWOOD FLOORS
• OAK CABINETRY
• OVERSIZED GARAGE
• CUSTOM GARAGE DOOR
• BUILT-IN STORAGE

Property features AI

Exterior

• Parking: Attached garage with automatic door opener; Garage includes electricity, storage and approximately 2.5 parking spaces
• Utilities: Electricity connected (circuit breakers); Public water connected; Sewer connected; Cable available
• Home design: Single-story residence; Primary living on main level; Resale property; Asphalt roof
• Construction: Vinyl siding; Copper plumbing; Poured foundation; Existing (original) construction
• Exterior features: Concrete driveway; Fully fenced yard; Corner, rectangular residential lot; City street frontage

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Microwave; Refrigerator; Eat-in layout
• Bedrooms: Two main-level bedrooms; Main-level primary bedroom
• Flooring: Carpet; Ceramic tile; Hardwood; Mixed/varied flooring
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Gas forced-air heating; Heating noted as 'see remarks' (additional details may be available)
• Interior features: Ceiling fans; Eat-in kitchen; Separate/formal living room; Natural woodwork; Window treatments; Drapes; Thermal windows
• Laundry & utility: Washer and dryer; Laundry area located in the basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-22 ($-269/yr) — negative.
• To cash-flow at today's rent, offer at most $196k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (8.9% below list).
• Recommended offer: $182k (8.9% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.1% in Tonawanda Town — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Kenmore-Tonawanda Union Free School District (suburban): math 44% / reading 47% proficiency, ranked #453 of 590 in NY (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.8%/yr); 191 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 31% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $182,142 (8.9% below list)

Questions for the listing agent

1. 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?
2. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.91% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.48%
• DSCR: 0.98
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $262,548
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
231 Blackstone Blvd	0.04mi	3/1.0 (+1)	1,200 (+1%)	4mo	$235,000	$196	88
1283 Brighton Rd	0.23mi	3/1.0 (+1)	1,225 (+3%)	1mo	$230,000	$188	78
100 Calvin Ct S	0.18mi	3/2.0 (+1)	1,230 (+4%)	1mo	$337,000	$274	76
1257 Brighton Rd	0.23mi	3/2.0 (+1)	1,268 (+7%)	3mo	$225,000	$177	66
241 Briarhurst Dr	0.33mi	3/1.0 (+1)	1,310 (+10%)	0mo	$290,000	$221	62
52 Calvin Ct S	0.08mi	3/3.0 (+1)	1,332 (+12%)	1mo	$325,000	$244	62
64 Melody Ln	0.57mi	3/1.5 (+1)	1,224 (+3%)	3mo	$245,260	$200	59
482 Woodstock Ave	0.72mi	3/1.0 (+1)	1,199 (+1%)	3mo	$275,650	$230	57
139 Melody Ln	0.49mi	3/1.0 (+1)	1,302 (+10%)	1mo	$263,000	$202	55
69 Maplegrove Ave	0.49mi	3/1.5 (+1)	1,284 (+8%)	4mo	$283,000	$220	53
132 Overbrook Ave	0.51mi	2/1.0	1,042 (-12%)	4mo	$261,000	$250	53
158 Overbrook Ave	0.56mi	2/1.0	1,019 (-14%)	2mo	$255,000	$250	49

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 · 6.75% rent growth · sell at horizon

5-year hold

• IRR: -12.7%
• Equity multiple: 0.52×
• Total profit: $-26,627
• Equity at exit: $29,821

10-year hold

• IRR: 1.5%
• Equity multiple: 1.12×
• Total profit: $6,900
• Equity at exit: $17,292

Cash invested: $56,000 (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 14150

• Rents YoY: 6.8%
• Active inventory: 191
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,821 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$329 /mo · $3,950/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $-22

Break-even live

Break-even rent $1,850

Max offer price $196,044

Occupancy floor 96%

Sensitivity live

Price	-10% $91	-5% $34	+0% $-22	+5% $-79	+10% $-136
Rent	-10% $-166	-5% $-94	+0% $-22	+5% $50	+10% $122
Rate	-1.0pp $78	-0.5pp $28	base $-22	+0.5pp $-74	+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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
182 Woodcrest Dr Amherst, NY	3.0	1.5	1380	$2,300	$1.67	20d	1	0.62mi
4765 N Bailey Ave Buffalo, NY	2.0	1.0	900	$2,100	$2.33	44d	1	0.65mi
2776 Eggert Rd #2 Tonawanda, NY	3.0	1.0	972	$1,600	$1.65	24d	1	0.73mi
200 Koenig Rd Tonawanda, NY	2.0	1.5	1481	$2,200	$1.49	2d	1	1.01mi
3948 Ridge Lea Rd Unit D Buffalo, NY	2.0	1.0	952	$1,850	$1.94	2d	1	1.10mi
780 Millersport Hwy Unit 1 Buffalo, NY	2.0	1.0	850	$1,395	$1.64	44d	1	1.40mi
4585 Chestnut Ridge Rd #4 Buffalo, NY	2.0	2.0	1197	$1,600	$1.34	24d	1	1.43mi
1280 Sweet Home Rd Buffalo, NY	1.0	1.0	1126	$1,850	$1.64	15d	1	1.44mi
1410 Deer Lakes Dr Amherst, NY	2.0	2.0	1300	$1,995	$1.53	4d	5	1.45mi
348 Capen Blvd Buffalo, NY	3.0	1.5	1424	$2,200	$1.54	2d	1	1.48mi

Listing history 3 events

1. 2026-06-18
   days on market $199,999 Active 2 DOM
2. 2026-06-16
   remarks 693-char remark
3. 2026-06-16
   listed $199,999 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: $3,950 · $329/mo
• Projected year-2 tax: $3,950 · $329/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 ≥93°F today · 15 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: $21,857
• − Mortgage interest: −$11,203
• − Property taxes: −$3,950
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,749
• − Management: −$1,749
• − Depreciation: −$5,818
• Taxable loss: −$3,611
• Est. tax savings @ 24.0%: +$867
• After-tax cash flow: $598/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: Kenmore-Tonawanda Union Free School District
• NCES district ID: 3616230
• Math proficiency: 44% ▼ -12.00%
• Reading proficiency: 47% ▼ -1.00%
• Median HH income: $51,433
• Composite: 39.18/100
• National rank: #4024
• State rank: #453 of 590 in NY

Livability — Tonawanda Town

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Tonawanda Town, NY
• County: Erie County · 714,559 people
• City population: 63,948
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 41,260
• Household income: $71,406
• Rent vs Own: 27.9% rent · 72.1% own
• Severe rent burden: 1427.0

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 (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 5% Black 4% Asian 2%
• Common ancestry: Romanian 13% Lithuanian 3% Slovak 2%
• Foreign-born: 6% · Canada, Philippines, Vietnam
• Languages at home: 94% English-only · Other Indo-European 2% Spanish 1% Russian/Polish/Slavic 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: ▼ -260.43%
• Current HPI: 334.5893
• Rent YoY: ▲ 6.75%
• 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

1 event — show timeline

• 2026-06-16 Listed $199,999 WNYREIS

Property tax history

+8.4%/yr

Latest (2025): $3,950 · +2.4% YoY. Source: county tax records.