783 Highland Ave · Tonawanda Town, NY 14223

$284,900

6 bd · 2.0 ba · 1,636 sqft · MultiFamily public records · 9 Days on market

Built 1946 7,960 sqft lot

---

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).

• Cash flow +21.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.8/10.0
• Schools +3.9/10.0
• Rent growth +2.5/5.0
• Livability +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: 2 units. confirmed

Listing remarks MLS

High demand 3/3 double. Owners unit has new flooring and countertop. Property has newer roof, siding and some windows. Easy to rent to long term tenants, convenienant to everything sandwiched between all single family homes, next to Ben Franklin and Parker field. Both sides were rented at $675 for 12 years, have left updated side open for possible owner occuopied.

Key facts

• Updated duplex
• Newer kitchens
• New hot water tanks

Tags

• UPDATED DUPLEX
• NEWER KITCHENS
• NEW HOT WATER TANKS
• NEW VINYL WINDOWS
• NEWER ROOF
• VINYL SIDING

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $285k.

Deal economics

• At list price, monthly cash flow is $439 ($5k/yr) — positive. Per door: $219/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $285k).
• Cap rate 8.1% 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 C — 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: 119 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• This rent runs 44% of the median local income ($84k/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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y ago 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 $145k; list at $285k implies a 96% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $284,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.08% ✓
• Cap rate: 8.14%
• Cash-on-cash: 6.60%
• DSCR: 1.29
• GRM: 7.7

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: -6.1%
• Equity multiple: 0.77×
• Total profit: $-18,148
• Equity at exit: $42,480

10-year hold

• IRR: 3.5%
• Equity multiple: 1.26×
• Total profit: $20,447
• Equity at exit: $24,633

Cash invested: $79,772 (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 14223

• Active inventory: 119
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $3,080 high
• Mortgage (P&I): −$1,494
• Tax from tax record: −$382 /mo · $4,578/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$647
• Net cashflow: $439

Break-even live

Break-even rent $2,524

Max offer price $284,900

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,080
Total (2 units)			$3,080

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: $71,225
• Closing costs: $8,547
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4098 Bailey Ave Buffalo, NY	5.0	2.5	2108	$2,200	$1.04	43d	1	1.26mi
64 Montrose Ave Buffalo, NY	7.0	1.5	1512	$2,700	$1.79	43d	1	1.36mi
64 Montrose Ave Buffalo, NY	7.0	1.5	1512	$2,500	$1.65	1d	1	1.36mi

Listing history 6 events

1. 2026-04-24
   status Pending
2. 2026-04-15
   listed $284,900 Active
3. 2018-11-29
   soldstatus $145,000 Closed Sale or Rented 366-char remark

   Show marketing remark (366 chars)

   High demand 3/3 double. Owners unit has new flooring and countertop. Property has newer roof, siding and some windows. Easy to rent to long term tenants, convenienant to everything sandwiched between all single family homes, next to Ben Franklin and Parker field. Both sides were rented at $675 for 12 years, have left updated side open for possible owner occuopied.

4. 2018-11-21
   soldstatus $145,000
5. 2018-07-27
   status Pending Sale 366-char remark

   Show marketing remark (366 chars)

   High demand 3/3 double. Owners unit has new flooring and countertop. Property has newer roof, siding and some windows. Easy to rent to long term tenants, convenienant to everything sandwiched between all single family homes, next to Ben Franklin and Parker field. Both sides were rented at $675 for 12 years, have left updated side open for possible owner occuopied.

6. 2018-07-17
   listed $134,900 Active 366-char remark

   Show marketing remark (366 chars)

   High demand 3/3 double. Owners unit has new flooring and countertop. Property has newer roof, siding and some windows. Easy to rent to long term tenants, convenienant to everything sandwiched between all single family homes, next to Ben Franklin and Parker field. Both sides were rented at $675 for 12 years, have left updated side open for possible owner occuopied.

ⓘ 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: $4,578 · $382/mo
• Projected year-2 tax: $4,696 · $391/mo
• Expected delta: +$118/yr (+$10/mo · 2.6%)

ⓘ 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: $36,960
• − Mortgage interest: −$15,959
• − Property taxes: −$4,578
• − Insurance: −$1,424
• − Repairs & maintenance: −$2,957
• − Management: −$2,957
• − Depreciation: −$8,288
• Taxable income: $797
• Est. tax owed @ 24.0%: −$191
• After-tax cash flow: $5,076/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): 22,611
• Household income: $84,161
• Rent vs Own: 19.1% rent · 80.9% own
• Severe rent burden: 368.0

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 (84%)
• Race & ethnicity: White 84% Asian 5% Two or more races 4% Black 4% Hispanic / Latino 3%
• Common ancestry: Romanian 12% Slovak 2% Lithuanian 2%
• Foreign-born: 7% · Canada, Vietnam, India
• Languages at home: 92% English-only · Other Indo-European 3% French/Haitian/Cajun 1% 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: ▼ -245.18%
• Current HPI: 320.9379
• 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

+111.2% since first listed

6 events — show timeline

• 2026-04-24 Pending — WNYREIS
• 2026-04-15 Listed $284,900 WNYREIS
• 2018-11-29 Sold (MLS) $145,000 WNYREIS
• 2018-11-21 Sold (Public Records) $145,000 Public Records
• 2018-07-27 Pending — WNYREIS
• 2018-07-17 Listed $134,900 WNYREIS

Property tax history

+3.7%/yr

Latest (2025): $4,578 · +1.1% YoY. Source: county tax records.