503 77th St · Niagara Falls, NY 14304

$190,000

3 bd · 2.0 ba · 1,296 sqft · SingleFamily public records · 10 Days on market

Built 1950 5,664 sqft lot Est $189k · at est.

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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).

• Cash flow +15.9/30.0
• ARV discount +7.3/15.0
• DSCR +4.9/10.0
• 1% rule +4.7/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

On the market for the first time in 61 years! Beautifully maintained home in the desirable LaSalle neighborhood, just off Niagara Falls Boulevard—offering unbeatable convenience to shopping, dining, and major thruways. This low-maintenance property features updated vinyl siding, replacement vinyl windows, and updated glass block basement windows. The recent architectural shingle roof and double-wide concrete driveway add to the home’s long-term value, while the charming front porch offers the perfect place to relax. Enjoy a fully fenced yard & garden space, a detached garage, shed and the double-wide driveway ensure plenty of parking and storage. Inside, you’ll find

Key facts

• Charming front porch
• Updated vinyl siding
• 5,664 sq ft lot

Tags

• UPDATED VINYL SIDING
• REPLACEMENT VINYL WINDOWS
• GLASS BLOCK BASEMENT WINDOWS
• ARCHITECTURAL SHINGLE ROOF
• DOUBLE-WIDE CONCRETE DRIVEWAY
• CHARMING FRONT PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $91 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (2.8% below list).
• Recommended offer: $185k (2.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#956 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Niagara Falls City School District (urban): math 26% / reading 34% proficiency, ranked #578 of 590 in NY (top 98%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Seventy Ninth Street School (math 12% / reading 37%, grade F, #1,846 of 2,108 statewide, top 91%, 404 students, 57% FRL); Lasalle Preparatory School (math 24% / reading 35%, grade F, #550 of 729 statewide, top 77%, 500 students, 65% FRL); Niagara Falls High School (math 75% / reading 92%, grade A, #409 of 1,100 statewide, top 39%, 2,139 students, 71% FRL) — zoned schools at 65% FRL track the district average.
• Zoned-school proficiency averages 46% at this address vs 30% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Niagara Falls City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 144 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($67k/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.
• Niagara County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $184,627 (2.8% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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?
6. 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.
7. 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.
8. 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: 0.97% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.06%
• DSCR: 1.09
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $189,216
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
503 77th St	0.00mi	3/2.0	1,296 (0%)	0mo	$230,000	$177	100
555 77th St	0.10mi	3/1.0	1,312 (+1%)	4mo	$49,000	$37	86
411 81st St	0.30mi	3/1.5	1,344 (+4%)	1mo	$170,000	$126	77
550 78th St	0.09mi	4/1.0 (+1)	1,200 (-7%)	1mo	$175,000	$146	73
502 81st St	0.21mi	3/1.0	1,194 (-8%)	1mo	$185,000	$155	73
445 71st St	0.36mi	3/1.0	1,232 (-5%)	4mo	$177,000	$144	68
147 76th St	0.53mi	3/1.0	1,284 (-1%)	6mo	$164,000	$128	65
216 74th St	0.51mi	3/2.0	1,408 (+9%)	0mo	$205,000	$146	62
8235 Laughlin Dr	0.36mi	3/1.0	1,115 (-14%)	4mo	$160,000	$143	53
618 82nd St	0.32mi	4/1.0 (+1)	1,152 (-11%)	6mo	$180,000	$156	52
615 69th St	0.53mi	3/1.5	1,134 (-12%)	2mo	$260,000	$229	51
1226 87th St	0.71mi	3/1.5	1,480 (+14%)	5mo	$197,000	$133	37

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.0%
• Equity multiple: 0.53×
• Total profit: $-24,909
• Equity at exit: $28,330

10-year hold

• IRR: -3.9%
• Equity multiple: 0.74×
• Total profit: $-13,950
• Equity at exit: $16,428

Cash invested: $53,200 (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 14304

• Active inventory: 144
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,846 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$292 /mo · $3,500/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $91

Break-even live

Break-even rent $1,731

Max offer price $190,000

Occupancy floor 90%

Sensitivity live

Price	-10% $199	-5% $145	+0% $91	+5% $38	+10% $-16
Rent	-10% $-55	-5% $18	+0% $91	+5% $164	+10% $237
Rate	-1.0pp $187	-0.5pp $140	base $91	+0.5pp $42	+1.0pp $-8

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8520 Munson Ave Niagara Falls, NY	3.0	1.0	1216	$2,200	$1.81	19d	1	0.53mi
8833 Pear Ave Niagara Falls, NY	2.0	1.0	1096	$1,700	$1.55	3d	1	0.81mi

Listing history 2 events

1. 2026-04-23
   status Pending
2. 2026-04-13
   listed $190,000 Active

ⓘ 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: $3,500 · $292/mo
• Projected year-2 tax: $3,500 · $292/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 14 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: $22,155
• − Mortgage interest: −$10,643
• − Property taxes: −$3,500
• − Insurance: −$950
• − Repairs & maintenance: −$1,772
• − Management: −$1,772
• − Depreciation: −$5,527
• Taxable loss: −$2,010
• Est. tax savings @ 24.0%: +$482
• After-tax cash flow: $1,578/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: Niagara Falls City School District
• NCES district ID: 3620820
• Math proficiency: 26% ▼ -10.00%
• Reading proficiency: 34% ▲ 3.00%
• Median HH income: $32,488
• Composite: 24.5/100
• National rank: #7655
• State rank: #578 of 590 in NY

Livability — Niagara Falls

• Score: 60/100
• State rank: #956
• US rank: #18749

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D- Housing A+ Health & safety F User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Niagara Falls, NY
• County: Niagara County · 157,377 people
• City population: 62,983
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 29,208
• Household income: $66,660
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 698.0

Population outlook (Niagara County) Hauer SSP2

• Today (2025): 204,149 people
• By 2030: 197,900 · -3.1%
• By 2040: 182,239 · -10.7%
• By 2050: 165,198 · -19.1%
• By 2075: 129,416 · -36.6%
• By 2100: 96,222 · -52.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Hispanic / Latino 4% Black 3% Asian 2%
• Common ancestry: Romanian 10% Lithuanian 3% Slovak 2%
• Foreign-born: 3% · Canada, China, Vietnam
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Niagara

• 2024 margin: R (+14.9) · D 42.5% · R 57.5%
• 2008→2024 swing: -15.9pp toward R · 2008: 1.0pp · 2024: -14.9pp
• All cycles: 2024: R+14.9 2020: R+9.7 2016: R+19.0 2012: D+0.6 2008: D+1.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -231.77%
• Current HPI: 280.3295
• 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

2 events — show timeline

• 2026-04-23 Pending — WNYREIS
• 2026-04-13 Listed $190,000 WNYREIS

Property tax history

+11.8%/yr

Latest (2025): $3,500 · +25.5% YoY. Source: county tax records.