58 Genesee St · Lockport, NY 14094

$197,000

4 bd · 2.0 ba · 3,198 sqft · MultiFamily public records · 227 Days on market

Built 1875 4,792 sqft lot Est $195k · at est.

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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 +28.6/30.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• ARV discount +7.1/15.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• 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: 1 unit. estimate disagrees with records

Key facts

• 4,792 sq ft lot
• 2 parking spots
• Built 1875

Property features AI

Finance

• Other: Owner pays water; rent includes water
• Financial info: Two-unit income property; Gross annual income listed as $19,200; Operating expenses listed as $1,200 (includes advertising and water); Units currently rented month-to-month (rents listed as $850 and $800)

Exterior

• Parking: Two or more parking spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story multifamily building; Resale property
• Construction: Vinyl siding; Blown-in insulation; Existing construction
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 66 x 75

Interior

• Kitchen: Includes gas water heater
• Bedrooms: One unit with 4 bedrooms; One unit with 3 bedrooms
• Flooring: Hardwood; Vinyl; Varies by area/unit
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood and vinyl flooring, with some variation between units; Dirt-floor basement
• Laundry & utility: Separate electric and gas meters for each unit

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $197k.

Deal economics

• At list price, monthly cash flow is $648 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $197k).
• Recommended offer: $173k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 4.5% in Lockport — 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 76/100 on livability (#232 in NY, #3,669 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute D+, crime F, employment D-.
• Lockport City School District (town): math 44% / reading 49% proficiency, ranked #452 of 590 in NY (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.7%/yr); 362 active listings in the ZIP; solid renter incomes; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% of the median local income ($75k/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.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $55k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 227 days — a 12% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $69k; list at $197k implies a 186% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1875 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $173,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 227 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1875 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.26% ✓
• Cap rate: 10.24%
• Cash-on-cash: 14.10%
• DSCR: 1.63
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $195,078
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
296 Walnut St	0.53mi	4/1.5	3,250 (+2%)	19mo	$112,500	$35	55
240 Pine St	0.30mi	5/2.0 (+1)	2,876 (-10%)	18mo	$174,000	$61	50
152 Elmwood Ave	0.73mi	5/2.0 (+1)	2,952 (-8%)	6mo	$195,000	$66	43

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 · 3.67% rent growth · sell at horizon

5-year hold

• IRR: 5.1%
• Equity multiple: 1.20×
• Total profit: $11,056
• Equity at exit: $29,373

10-year hold

• IRR: 15.2%
• Equity multiple: 2.27×
• Total profit: $69,858
• Equity at exit: $17,033

Cash invested: $55,160 (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 14094

• Rents YoY: 3.7%
• Active inventory: 362
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $2,491 medium
• Mortgage (P&I): −$1,033
• Tax from tax record: −$205 /mo · $2,456/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$523
• Net cashflow: $648

Break-even live

Break-even rent $1,671

Max offer price $197,000

Occupancy floor 69%

Sensitivity live

Price	-10% $760	-5% $704	+0% $648	+5% $592	+10% $537
Rent	-10% $451	-5% $550	+0% $648	+5% $746	+10% $845
Rate	-1.0pp $747	-0.5pp $698	base $648	+0.5pp $597	+1.0pp $545

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,492
Total (2 units)			$2,491

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: $49,250
• Closing costs: $5,910
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $197,000 Active 227 DOM
2. 2026-06-18
   days on market $197,000 Active 224 DOM
3. 2026-06-17
   days on market $197,000 Active 223 DOM
4. 2026-06-16
   days on market $197,000 Active 222 DOM
5. 2026-06-15
   days on market $197,000 Active 221 DOM
6. 2026-06-13
   days on market $197,000 Active 219 DOM
7. 2026-06-13
   days on market $197,000 Active 218 DOM
8. 2026-06-10
   days on market $197,000 Active 216 DOM
9. 2026-06-09
   days on market $197,000 Active 215 DOM
10. 2026-06-08
    days on market $197,000 Active 214 DOM
11. 2026-06-07
    days on market $197,000 Active 213 DOM
12. 2026-06-05
    days on market $197,000 Active 210 DOM
13. 2026-06-03
    days on market $197,000 Active 209 DOM
14. 2026-06-02
    days on market $197,000 Active 208 DOM
15. 2026-06-01
    days on market $197,000 Active 207 DOM
16. 2026-05-31
    days on market $197,000 Active 206 DOM
17. 2025-11-06
    listed $197,000 Active
18. 2021-08-26
    soldstatus $69,000

ⓘ 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: $2,456 · $205/mo
• Projected year-2 tax: $2,892 · $241/mo
• Expected delta: +$437/yr (+$36/mo · 17.8%)

ⓘ 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 2/10 Low 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,892
• − Mortgage interest: −$11,035
• − Property taxes: −$2,456
• − Insurance: −$985
• − Repairs & maintenance: −$2,391
• − Management: −$2,391
• − Depreciation: −$5,731
• Taxable income: $4,903
• Est. tax owed @ 24.0%: −$1,177
• After-tax cash flow: $6,600/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: Lockport City School District
• NCES district ID: 3617670
• Math proficiency: 44% ▼ -7.00%
• Reading proficiency: 49% ▲ 3.00%
• Median HH income: $43,793
• Composite: 39.28/100
• National rank: #3997
• State rank: #452 of 590 in NY

Livability — Lockport

• Score: 76/100
• State rank: #232
• US rank: #3669

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lockport, NY
• County: Niagara County · 157,377 people
• City population: 50,153
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 50,153
• Household income: $75,427
• Rent vs Own: 28.1% rent · 71.9% own
• Severe rent burden: 1112.0

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 (84%)
• Race & ethnicity: White 84% Two or more races 6% Black 6% Hispanic / Latino 3%
• Common ancestry: Romanian 9% Slovak 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 1% Russian/Polish/Slavic 1% 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: ▼ -262.57%
• Current HPI: 303.6109
• Rent YoY: ▲ 3.67%
• 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

+185.5% since first listed

2 events — show timeline

• 2025-11-06 Listed $197,000 WNYREIS
• 2021-08-26 Sold (Public Records) $69,000 Public Records

Property tax history

+8.2%/yr

Latest (2025): $2,456 · +12.9% YoY. Source: county tax records.