58 Gresham Drive
Amherst, NY 14226
- 5 beds
- 2 baths
- 1,504 sqft
- 7,125 sqft lot
- $159 per sqft
- 1948 build
- – on site
Presenting a lucrative investment opportunity in a highly sought-after area of Amherst, close to the University at Buffalo South Campus. This single-family house is currently set up as student accommodation, featuring five bedrooms and two full bathrooms, making it an ideal choice for investors looking to tap into the student rental market. The property boasts a spacious layout conducive to shared living, with large communal areas that ensure comfort for all occupants. Currently, the property has the potential to generate close to $3,000 per month in rental income, ensuring a robust return on investment from day one. The constant demand from students guarantees high occupancy rates, making this a worry-free investment. For those looking to enter the investment market, this property offers a fantastic opportunity with great positive cash flow. It is not just a house, but a steady income stream and a foothold in the thriving rental market near a major university. Don’t miss out on this exceptional opportunity to own a prime piece of real estate with significant income potential in Amherst.
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Last updated Apr 30, 2024
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MLS# B1533074 —
Monthly cost estimate
Asking price
$239,900
| Expense | Monthly cost |
|---|---|
|
Mortgage
This calculator is intended for planning and education purposes only. It relies on assumptions and information provided by you regarding your goals, expectations and financial situation, and should not be used as your sole source of information. The output of the tool is not a loan offer or solicitation, nor is it financial or legal advice. |
$1,284
|
| Taxes | $414 |
| Insurance | $65 |
| Utilities | $194 See report |
| Total | $1,957/mo.* |
| *This is an estimate |
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Air Pollution Index
Provided by ClearlyEnergy
The air pollution index is calculated by county or urban area using the past three years data. The index ranks the county or urban area on a scale of 0 (best) - 100 (worst) across the United Sates.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
4/21/24
Apr 21, 2024
|
Listed / Active | NYSAMLS | $239,900 | 151.2% (15.6% / YR) |
|
8/19/14
Aug 19, 2014
|
NYSAMLS | $95,500 |
51% of nearby similar homes sold for over asking price
Similar homes that sold in bidding wars went $25k above asking price on average, but some went as high as $78k over asking price.