1805 Weston Ave · Niagara Falls, NY 14305

$50,000

2 bd · 2.0 ba · 1,610 sqft · MultiFamily public records · 163 Days on market

Built 1900 5,000 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Welcome to a unique mixed-use investment property with tremendous potential and character! Situated on a highly visible neighborhood commercial corridor (18th Street/Weston), this property features: Historic storefront appeal easily could be reimagined into a shoppe or store with a corner entrance, large display windows, and light brick exterior, formerly a well-loved coffee shop in the 1970s. Now, the first floor lends to a 1 bedroom apartment that requires only modest updates. The upstairs 2 bedroom apartment as well is simple updates and has a living room and dining room so plenty of room for the new occupants. Upgrades completed: brand-new steps, newer windows, and cleared spaces re

Key facts

• Light brick exterior
• 1 bedroom apartment
• Corner entrance

Tags

• MIXED-USE INVESTMENT PROPERTY
• HISTORIC STOREFRONT APPEAL
• CORNER ENTRANCE
• LARGE DISPLAY WINDOWS
• LIGHT BRICK EXTERIOR
• 1 BEDROOM APARTMENT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $50k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 46.1% 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; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• At $2,630/mo this rent would consume 62% 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 $346 of loan paydown is wiped out by about $2k 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 $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 163 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $23k; list at $50k implies a 117% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 163 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 5.26% ✓
• Cap rate: 46.12%
• Cash-on-cash: 142.23%
• DSCR: 7.33
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $122,360
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1805 Weston Ave	0.00mi	2/2.0	1,610 (0%)	1mo	$20,000	$12	99
2260 Weston Ave	0.30mi	3/2.0 (+1)	1,540 (-4%)	3mo	$135,000	$88	71
2236 Linwood Ave	0.26mi	3/2.0 (+1)	1,544 (-4%)	8mo	$163,000	$106	69
1970 Whitney Ave	0.33mi	3/2.0 (+1)	1,562 (-3%)	8mo	$122,000	$78	68
1361 North Ave	0.37mi	3/2.0 (+1)	1,711 (+6%)	2mo	$76,000	$44	66
2203 La Salle Ave	0.41mi	3/2.0 (+1)	1,594 (-1%)	18mo	$55,000	$35	60
2252 La Salle Ave	0.44mi	3/2.0 (+1)	1,635 (+2%)	17mo	$107,900	$66	58
2216 Forest Ave	0.51mi	3/2.0 (+1)	1,650 (+2%)	20mo	$160,000	$97	50
2234 Willow Ave	0.29mi	3/2.0 (+1)	1,386 (-14%)	11mo	$105,000	$76	49
1519 Whitney Ave	0.36mi	3/2.0 (+1)	1,408 (-12%)	12mo	$110,000	$78	48
1208 17th St	0.35mi	3/2.0 (+1)	1,378 (-14%)	12mo	$92,500	$67	44

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: —
• Equity multiple: 7.98×
• Total profit: $97,667
• Equity at exit: $7,455

10-year hold

• IRR: —
• Equity multiple: 16.82×
• Total profit: $221,476
• Equity at exit: $4,323

Cash invested: $14,000 (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: 3.2×

Monthly cashflow live

• Estimated rent: $2,630 high
• Mortgage (P&I): −$262
• Tax from tax record: −$135 /mo · $1,624/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$552
• Net cashflow: $1,659

Break-even live

Break-even rent $530

Max offer price $50,000

Occupancy floor 32%

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$1,301
1× unit	2	1	$1,329
Total (2 units)			$2,630

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1808 Whitney Ave Unit 3 Niagara Falls, NY	2.0	1.0	1200	$900	$0.75	43d	1	0.28mi
1312 Ontario Ave Niagara Falls, NY	2.0	1.0	1956	$1,200	$0.61	43d	1	0.40mi
1001 17th St Niagara Falls, NY	3.0	1.0	1152	$1,800	$1.56	23d	1	0.46mi
784 15th St Niagara Falls, NY	3.0	1.5	1380	$1,350	$0.98	3d	1	0.54mi
642 Ashland Ave Niagara Falls, NY	3.0	1.0	1238	$1,100	$0.89	3d	1	0.94mi
700 Pine Ave Unit 1 Niagara Falls, NY	1.0	1.0	1075	$1,075	$1.00	11d	1	1.01mi
1427 Fort Ave Unit 2 Niagara Falls, NY	3.0	1.0	1058	$950	$0.90	43d	1	1.07mi
420 25th St Niagara Falls, NY	3.0	1.0	1101	$1,500	$1.36	43d	1	1.18mi
1780 Falls St Niagara Falls, NY	2.0	1.0	1100	$1,200	$1.09	43d	1	1.22mi

Listing history 5 events

1. 2026-03-19
   status Pending
2. 2026-02-13
   price $50,000
3. 2025-12-02
   price $60,000
4. 2025-10-07
   listed $80,000 Active
5. 2007-04-03
   soldstatus $23,000

ⓘ 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: $1,624 · $135/mo
• Projected year-2 tax: $1,624 · $135/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 1/10 Low
• 🌡 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: $31,560
• − Mortgage interest: −$2,801
• − Property taxes: −$1,624
• − Insurance: −$250
• − Repairs & maintenance: −$2,525
• − Management: −$2,525
• − Depreciation: −$1,455
• Taxable income: $20,381
• Est. tax owed @ 24.0%: −$4,892
• After-tax cash flow: $15,021/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

+117.4% since first listed

5 events — show timeline

• 2026-03-19 Pending — WNYREIS
• 2026-02-13 Price Changed $50,000 WNYREIS
• 2025-12-02 Price Changed $60,000 WNYREIS
• 2025-10-07 Listed $80,000 WNYREIS
• 2007-04-03 Sold (Public Records) $23,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $1,624 · -32.1% YoY. Source: county tax records.