1890 Linwood Ave · Niagara Falls, NY 14305

$114,000

5 bd · 2.0 ba · 2,160 sqft · MultiFamily public records · 17 Days on market

Built 1925 3,600 sqft lot Est $108k · 6% over

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +5.0/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Flexible duplex property in the City of Niagara Falls offering two separate units and practical systems already in place – with income potential and opportunity built in. The lower unit provides a spacious 3-bedroom, 2-bath layout with hardwood floors, defined living and dining areas, and original character details. The upper unit adds a bright 2-bedroom, 1-bath setup, giving the property built-in flexibility for rental income, shared ownership, or portfolio growth. At 1890 Linwood Ave, the full basement supports easier property management with two furnaces, two hot water tanks, two electric panels, two gas meters, one water meter, and separate laundry hookups. The 2,160 sq ft layout

Key facts

• Income potential
• Two separate units
• Duplex property

Tags

• DUPLEX PROPERTY
• TWO SEPARATE UNITS
• INCOME POTENTIAL
• SPACIOUS LAYOUT
• HARDWOOD FLOORS
• DEFINED LIVING AREAS

Property features AI

Finance

• Other: Two total residential units; Separate gas and electric meters for each unit
• Financial info: Owner pays water; water included in rent; Operating expenses: see remarks

Exterior

• Parking: Concrete, gravel and paved surfaces; Two or more parking spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Existing construction; Vinyl siding
• Construction: Poured foundation
• Exterior features: Corner lot; Rectangular residential lot; City street frontage; Lot dimensions approximately 30 x 120

Interior

• Kitchen: Eat-in kitchen (in one unit); Refrigerator included (in one unit)
• Bedrooms: Two-bedroom unit (one unit); Three-bedroom unit (one unit)
• Flooring: Carpet; Hardwood; Ceramic tile; Laminate; Tile; Varies
• Bathrooms: Three full bathrooms total across units; One full bathroom in the 2-bed unit; Two full bathrooms in the 3-bed unit
• Heating & cooling: Gas forced-air heating
• Interior features: Thermal windows; Crawl space and full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $114k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $605/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $114k).
• Recommended offer: $112k (1.5% below list) — sets the bar for market timing.
• Cap rate 19.0% vs local median 7.7% in Niagara Falls — 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 60/100 on livability (#956 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities 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.
• Market conditions: 142 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).
• At $2,590/mo this rent would consume 61% of the median local household income ($51k/yr) (locally 1095% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $788 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $87k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $112,290 (1.5% below list)

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 1925 — 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. 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?
6. 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?
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: 2.27% ✓
• Cap rate: 19.03%
• Cash-on-cash: 45.50%
• DSCR: 3.02
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $108,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1867 Michigan Ave	0.05mi	4/2.0 (-1)	2,100 (-3%)	2mo	$87,000	$41	87
1635 South Ave	0.28mi	5/2.0	2,208 (+2%)	2mo	$85,000	$38	81
2401 Whitney Ave	0.27mi	6/2.0 (+1)	2,168 (+0%)	2mo	$40,000	$18	80
2225 Whitney Ave	0.23mi	6/2.0 (+1)	2,200 (+2%)	3mo	$125,000	$57	79
2208 Weston Ave	0.13mi	4/2.0 (-1)	2,016 (-7%)	1mo	$55,000	$27	77
2455 La Salle Ave	0.38mi	4/2.0 (-1)	2,152 (-0%)	3mo	$112,000	$52	75
2460 Grand Ave	0.57mi	6/2.0 (+1)	2,162 (+0%)	0mo	$175,000	$81	68
1623 Linwood Ave	0.27mi	4/2.0 (-1)	1,994 (-8%)	3mo	$100,000	$50	67
2463 South Ave	0.31mi	4/2.0 (-1)	2,016 (-7%)	3mo	$137,500	$68	67
2459 La Salle Ave	0.38mi	4/2.0 (-1)	1,920 (-11%)	2mo	$160,000	$83	57
1145 Willow Ave	0.57mi	6/2.0 (+1)	2,304 (+7%)	3mo	$53,300	$23	55
2488 Whitney Ave	0.36mi	4/3.0 (-1)	2,384 (+10%)	4mo	$85,000	$36	54

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: 42.7%
• Equity multiple: 2.84×
• Total profit: $58,681
• Equity at exit: $16,998

10-year hold

• IRR: 48.8%
• Equity multiple: 5.72×
• Total profit: $150,636
• Equity at exit: $9,857

Cash invested: $31,920 (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 14305

• Home prices YoY: -10.9%
• Active inventory: 142
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,590 high
• Mortgage (P&I): −$598
• Tax from tax record: −$190 /mo · $2,286/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$544
• Net cashflow: $1,210

Break-even live

Break-even rent $1,058

Max offer price $114,000

Occupancy floor 48%

Sensitivity live

Price	-10% $1,275	-5% $1,243	+0% $1,210	+5% $1,178	+10% $1,146
Rent	-10% $1,006	-5% $1,108	+0% $1,210	+5% $1,313	+10% $1,415
Rate	-1.0pp $1,268	-0.5pp $1,239	base $1,210	+0.5pp $1,181	+1.0pp $1,151

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$2,590
Total (2 units)			$2,590

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: $28,500
• Closing costs: $3,420
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2020 Forest Ave Niagara Falls, NY	4.0	2.0	1600	$1,500	$0.94	17d	1	0.40mi
3025 Macklem Ave Niagara Falls, NY	4.0	1.5	1750	$2,200	$1.26	44d	1	1.32mi

Listing history 13 events

1. 2026-06-18
   days on market $114,000 Active 17 DOM
2. 2026-06-17
   days on market $114,000 Active 16 DOM
3. 2026-06-16
   days on market $114,000 Active 15 DOM
4. 2026-06-15
   days on market $114,000 Active 14 DOM
5. 2026-06-13
   days on market $114,000 Active 12 DOM
6. 2026-06-13
   days on market $114,000 Active 11 DOM
7. 2026-06-10
   days on market $114,000 Active 9 DOM
8. 2026-06-09
   days on market $114,000 Active 8 DOM
9. 2026-06-08
   days on market $114,000 Active 7 DOM
10. 2026-06-07
    days on market $114,000 Active 6 DOM
11. 2026-06-03
    days on market $114,000 Active 2 DOM
12. 2026-06-02
    remarks 693-char remark
13. 2026-06-02
    listed $114,000 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: $2,286 · $190/mo
• Projected year-2 tax: $2,286 · $190/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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥94°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: $31,080
• − Mortgage interest: −$6,386
• − Property taxes: −$2,286
• − Insurance: −$570
• − Repairs & maintenance: −$2,486
• − Management: −$2,486
• − Depreciation: −$3,316
• Taxable income: $13,549
• Est. tax owed @ 24.0%: −$3,252
• After-tax cash flow: $11,272/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): 16,696
• Household income: $51,004
• Rent vs Own: 38.4% rent · 61.6% own
• Severe rent burden: 1095.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 55% Black 24% Two or more races 13% Hispanic / Latino 8% Asian 1% Native American 1%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 6% Slovak 2% Lithuanian 2%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 4% Other Indo-European 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: ▼ -43.08%
• Current HPI: 350.8741
• 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

+31.0% since first listed

3 events — show timeline

• 2026-06-01 Listed $114,000 WNYREIS
• 2025-07-08 Listed $130,000 WNYREIS
• 2022-10-27 Sold (Public Records) $87,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $2,286 · -0.1% YoY. Source: county tax records.