110 Hedley St · Cheektowaga, NY 14206

$194,999

3 bd · 2.0 ba · 1,941 sqft · MultiFamily public records · 59 Days on market

Built 1925 7,405 sqft lot $100/sqft · 49% below area Est $383k · 49% under

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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).

• ARV discount +15.0/15.0
• Cash flow +11.1/30.0
• Appreciation +9.0/10.0
• 1% rule +5.5/10.0
• Livability +4.2/5.0
• DSCR +3.2/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks MLS

Excellent multi-unit opportunity with strong income potential! This property features two well-appointed units— the first unit offers 2 bedrooms and 2 full bathrooms with in-unit laundry, while the second unit includes 1 bedroom, 1 bathroom, also with in-unit laundry. Both units are currently vacant, providing flexibility for owner-occupants or investors. Previous rental income was $1,850/month for the 2-bedroom unit and $1,350/month for the 1-bedroom unit. Additional highlights include a newer roof, central A/C throughout the home, and a double-wide driveway for ample off-street parking. The fully fenced backyard offers privacy and outdoor enjoyment. Conveniently located near public transportation, shopping, and dining, including close proximity to the Galleria Mall and new retail developments in the area. Don’t miss this great opportunity to add to your portfolio or live in one unit while generating income from the other!

Key facts

• Newer roof
• In-unit laundry
• Double-wide driveway

Tags

• IN-UNIT LAUNDRY
• NEWER ROOF
• CENTRAL A/C
• DOUBLE-WIDE DRIVEWAY
• FULLY FENCED BACKYARD
• CONVENIENTLY LOCATED

🏷️ Possibly a rental listed for sale. The $194,999 price doesn't fit this home's estimated sale value (~$382,599) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $195k.

Deal economics

• At list price, monthly cash flow is $-79 ($-947/yr) — negative.
• To cash-flow at today's rent, offer at most $181k (7.1% below list).
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $181k (7.1% below list) — sets the bar for cash-flow.
• Cap rate 5.8% 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-Sloan Union Free School District (urban): math 33% / reading 38% proficiency, ranked #555 of 590 in NY (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 169 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,048/mo this rent would consume 49% of the median local household income ($50k/yr) (locally 841% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (8.1% local appreciation)).
• At projected returns (8.1% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $25k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $181,065 (7.1% 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. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.05% ✓
• Cap rate: 5.81%
• Cash-on-cash: -1.73%
• DSCR: 0.92
• GRM: 7.9

CMA / ARV

• ARV (median comp): $382,599
• List price: $194,999
• Delta: -49.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
127 Hedley St	0.05mi	4/2.0 (+1)	1,779 (-8%)	7mo	$180,000	$101	73
1456 Harlem Rd	0.11mi	4/2.0 (+1)	2,090 (+8%)	21mo	$92,500	$44	60
33 Schiller St	0.73mi	4/2.0 (+1)	1,922 (-1%)	5mo	$60,000	$31	55
1168 Harlem Rd	0.55mi	4/2.0 (+1)	2,054 (+6%)	24mo	$285,750	$139	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

8.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.9%
• Equity multiple: 2.40×
• Total profit: $76,279
• Equity at exit: $148,921

10-year hold

• IRR: 17.7%
• Equity multiple: 5.13×
• Total profit: $225,572
• Equity at exit: $296,349

Cash invested: $54,600 (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 14206

• Home prices YoY: 1.8%
• Active inventory: 169
• Price-to-rent: 15.2×

Monthly cashflow live

• Estimated rent: $2,048 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$593 /mo · $7,115/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $-79

Break-even live

Break-even rent $2,148

Max offer price $181,065

Occupancy floor 99%

Sensitivity live

Price	-10% $32	-5% $-24	+0% $-79	+5% $-134	+10% $-189
Rent	-10% $-241	-5% $-160	+0% $-79	+5% $2	+10% $83
Rate	-1.0pp $19	-0.5pp $-29	base $-79	+0.5pp $-129	+1.0pp $-181

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

Units	Beds	Baths	Est. rent
1× unit	2	2	$1,071
1× unit	1	1	$977
Total (2 units)			$2,048

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1368 Harlem Rd Buffalo, NY	2.0	1.0	1776	$1,300	$0.73	24d	1	0.21mi
14 Rutland Ave Buffalo, NY	4.0	1.0	1430	$2,200	$1.54	11d	1	0.84mi
1777 Broadway Unit 2 Buffalo, NY	3.0	1.0	1300	$1,200	$0.92	44d	1	1.49mi

Listing history 16 events

1. 2026-06-07
   statusdays on market $194,999 Pending 59 DOM
2. 2026-06-05
   days on market $194,999 Active 58 DOM
3. 2026-06-03
   days on market $194,999 Active 57 DOM
4. 2026-06-02
   days on market $194,999 Active 56 DOM
5. 2026-06-01
   days on market $194,999 Active 55 DOM
6. 2026-05-31
   days on market $194,999 Active 54 DOM
7. 2026-04-21
   price $204,999 949-char remark

   Show marketing remark (949 chars)

   Excellent multi-unit opportunity with strong income potential! This property features two well-appointed units— the first unit offers 2 bedrooms and 2 full bathrooms with in-unit laundry, while the second unit includes 1 bedroom, 1 bathroom, also with in-unit laundry. Both units are currently vacant, providing flexibility for owner-occupants or investors. Previous rental income was $1,850/month for the 2-bedroom unit and $1,350/month for the 1-bedroom unit. Additional highlights include a newer roof, central A/C throughout the home, and a double-wide driveway for ample off-street parking. The fully fenced backyard offers privacy and outdoor enjoyment. Conveniently located near public transportation, shopping, and dining, including close proximity to the Galleria Mall and new retail developments in the area. Don’t miss this great opportunity to add to your portfolio or live in one unit while generating income from the other!

8. 2026-04-07
   listed $219,999 Active 949-char remark

   Show marketing remark (949 chars)

   Excellent multi-unit opportunity with strong income potential! This property features two well-appointed units— the first unit offers 2 bedrooms and 2 full bathrooms with in-unit laundry, while the second unit includes 1 bedroom, 1 bathroom, also with in-unit laundry. Both units are currently vacant, providing flexibility for owner-occupants or investors. Previous rental income was $1,850/month for the 2-bedroom unit and $1,350/month for the 1-bedroom unit. Additional highlights include a newer roof, central A/C throughout the home, and a double-wide driveway for ample off-street parking. The fully fenced backyard offers privacy and outdoor enjoyment. Conveniently located near public transportation, shopping, and dining, including close proximity to the Galleria Mall and new retail developments in the area. Don’t miss this great opportunity to add to your portfolio or live in one unit while generating income from the other!

9. 2026-04-07
   historical

   Show marketing remark (949 chars)

   Excellent multi-unit opportunity with strong income potential! This property features two well-appointed units— the first unit offers 2 bedrooms and 2 full bathrooms with in-unit laundry, while the second unit includes 1 bedroom, 1 bathroom, also with in-unit laundry. Both units are currently vacant, providing flexibility for owner-occupants or investors. Previous rental income was $1,850/month for the 2-bedroom unit and $1,350/month for the 1-bedroom unit. Additional highlights include a newer roof, central A/C throughout the home, and a double-wide driveway for ample off-street parking. The fully fenced backyard offers privacy and outdoor enjoyment. Conveniently located near public transportation, shopping, and dining, including close proximity to the Galleria Mall and new retail developments in the area. Don’t miss this great opportunity to add to your portfolio or live in one unit while generating income from the other!

10. 2026-03-18
    listed $219,999 Active
11. 2021-07-30
    soldstatus $180,100
12. 2021-07-26
    soldstatus $180,100 Closed Sale or Rented
13. 2021-07-09
    status Pending Sale
14. 2021-05-27
    status Under Contract- Do Not Show
15. 2021-05-19
    listed $149,900 Active
16. 1999-10-29
    soldstatus $65,000

ⓘ 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: $7,115 · $593/mo
• Projected year-2 tax: $7,115 · $593/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 ≥92°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: $24,576
• − Mortgage interest: −$10,923
• − Property taxes: −$7,115
• − Insurance: −$975
• − Repairs & maintenance: −$1,966
• − Management: −$1,966
• − Depreciation: −$5,673
• Taxable loss: −$4,042
• Est. tax savings @ 24.0%: +$970
• After-tax cash flow: $24/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-Sloan Union Free School District
• NCES district ID: 3627000
• Math proficiency: 33% ▼ -16.00%
• Reading proficiency: 38% ▼ -6.00%
• Median HH income: $45,810
• Composite: 30.35/100
• National rank: #6263
• State rank: #555 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): 21,631
• Household income: $50,450
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 841.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 13% Black 12% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10%
• Common ancestry: Romanian 25% Lithuanian 1% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Arabic 2%

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: ▲ 8.06%
• Current HPI: 457.3935
• 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

+215.4% since first listed

10 events — show timeline

• 2026-04-21 Price Changed $204,999 WNYREIS
• 2026-04-07 Listing Removed — WNYREIS
• 2026-04-07 Listed $219,999 WNYREIS
• 2026-03-18 Listed $219,999 WNYREIS
• 2021-07-30 Sold (Public Records) $180,100 Public Records
• 2021-07-26 Sold (MLS) $180,100 WNYREIS
• 2021-07-09 Pending — WNYREIS
• 2021-05-27 Pending — WNYREIS
• 2021-05-19 Listed $149,900 WNYREIS
• 1999-10-29 Sold (Public Records) $65,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $7,115 · +0.2% YoY. Source: county tax records.