177 Washburn St · Lockport, NY 14094

$139,900

3 bd · 1.0 ba · 1,591 sqft · SingleFamily public records · 27 Days on market

Built 1900 4,792 sqft lot Est $207k · 32% under

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Why this score? — see what drove the C+ 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 +20.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +5.1/10.0
• 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

Listing remarks MLS

Cute starter home or good investment property close to many amenities. This solid, 3 bedroom, 1 full bathroom with 1,591 sq ft home is currently tenant occupied at $910/month. Tear off roof completed in 2005, furnace replaced in 2013, and how water tank replaced in 2014. Great opportunity to own this affordable home or your very first investment property. Won’t last long. Showings start immediately. Seller will consider a package offer of this property plus 185 & 189 Washburn.

Key facts

• Tenant occupied
• Conveniently located
• 4,792 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• CURRENT RENTAL INCOME
• TENANT OCCUPIED
• CONVENIENTLY LOCATED

Property features AI

Finance

• HOA & community: Quarterly association fee

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: 2-story frame home; Existing construction; Block foundation
• Construction: Frame construction; Block foundation; Built (existing)
• Exterior features: Blacktop driveway; Rectangular residential lot (35 x 120)

Interior

• Bedrooms: 2 main-level bedrooms
• Flooring: Laminate; Vinyl; Varies
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas forced-air heating
• Interior features: Separate/formal dining room; Partial basement
• Laundry & utility: Gas water heater

🏷️ Possibly a rental listed for sale. The $139,900 price doesn't fit this home's estimated sale value (~$206,830) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.9% 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); 357 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k 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

• It's been on market 27 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago 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 $61k; list at $140k implies a 129% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $137,801 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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 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?
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. 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.
6. 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.
7. 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: 1.01% ✓
• Cap rate: 7.85%
• Cash-on-cash: 5.57%
• DSCR: 1.25
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $206,830
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8 Blackley Ct	0.18mi	3/2.0	1,658 (+4%)	2mo	$135,000	$81	79
44 Erie St	0.23mi	4/2.0 (+1)	1,528 (-4%)	3mo	$180,000	$118	71
62 Grand St	0.49mi	3/1.0	1,505 (-5%)	4mo	$45,000	$30	65
99 Elmwood Ave	0.20mi	3/1.0	1,376 (-14%)	3mo	$159,900	$116	65
69 Morrow Ave	0.61mi	3/1.0	1,510 (-5%)	1mo	$195,000	$129	62
20 Morton Ave	0.66mi	4/1.5 (+1)	1,578 (-1%)	3mo	$205,000	$130	59
55 Chapel St	0.41mi	2/1.5 (-1)	1,458 (-8%)	2mo	$122,000	$84	58
314 Locust St	0.53mi	3/1.5	1,448 (-9%)	1mo	$221,000	$153	58
293 Pine St	0.61mi	3/2.0	1,480 (-7%)	2mo	$275,000	$186	54
603 Walnut St	0.65mi	3/2.0	1,718 (+8%)	2mo	$225,000	$131	51
65 Morrow Ave	0.61mi	3/2.0	1,424 (-10%)	1mo	$230,000	$162	49
100 Regent St	0.61mi	3/2.5	1,795 (+13%)	0mo	$248,000	$138	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 · 3.67% rent growth · sell at horizon

5-year hold

• IRR: -6.9%
• Equity multiple: 0.74×
• Total profit: $-10,128
• Equity at exit: $20,860

10-year hold

• IRR: 3.5%
• Equity multiple: 1.26×
• Total profit: $10,084
• Equity at exit: $12,096

Cash invested: $39,172 (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: 357
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,412 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$142 /mo · $1,700/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $182

Break-even live

Break-even rent $1,182

Max offer price $139,900

Occupancy floor 82%

Sensitivity live

Price	-10% $261	-5% $221	+0% $182	+5% $142	+10% $103
Rent	-10% $70	-5% $126	+0% $182	+5% $238	+10% $293
Rate	-1.0pp $252	-0.5pp $217	base $182	+0.5pp $146	+1.0pp $109

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
47 Waterman St Unit 3 Lockport, NY	2.0	1.0	1100	$1,150	$1.05	24d	1	0.34mi

Listing history 23 events

1. 2026-06-18
   days on market $139,900 Active 27 DOM
2. 2026-06-17
   days on market $139,900 Active 26 DOM
3. 2026-06-16
   days on market $139,900 Active 25 DOM
4. 2026-06-15
   days on market $139,900 Active 24 DOM
5. 2026-06-13
   days on market $139,900 Active 22 DOM
6. 2026-06-13
   days on market $139,900 Active 21 DOM
7. 2026-06-10
   days on market $139,900 Active 19 DOM
8. 2026-06-09
   days on market $139,900 Active 18 DOM
9. 2026-06-08
   days on market $139,900 Active 17 DOM
10. 2026-06-07
    days on market $139,900 Active 16 DOM
11. 2026-06-05
    days on market $139,900 Active 13 DOM
12. 2026-06-03
    days on market $139,900 Active 12 DOM
13. 2026-06-02
    days on market $139,900 Active 11 DOM
14. 2026-06-01
    days on market $139,900 Active 10 DOM
15. 2026-05-31
    days on market $139,900 Active 9 DOM
16. 2026-05-22
    listed $139,900 Active
17. 2023-07-26
    soldstatus $61,000
18. 2023-07-24
    soldstatus $61,000 Closed Sale or Rented 494-char remark

    Show marketing remark (494 chars)

    Cute starter home or good investment property close to many amenities. This solid, 3 bedroom, 1 full bathroom with 1,591 sq ft home is currently tenant occupied at $910/month. Tear off roof completed in 2005, furnace replaced in 2013, and how water tank replaced in 2014. Great opportunity to own this affordable home or your very first investment property. Won’t last long. Showings start immediately. Seller will consider a package offer of this property plus 185 & 189 Washburn.

19. 2023-06-26
    status Pending Sale 494-char remark

    Show marketing remark (494 chars)

    Cute starter home or good investment property close to many amenities. This solid, 3 bedroom, 1 full bathroom with 1,591 sq ft home is currently tenant occupied at $910/month. Tear off roof completed in 2005, furnace replaced in 2013, and how water tank replaced in 2014. Great opportunity to own this affordable home or your very first investment property. Won’t last long. Showings start immediately. Seller will consider a package offer of this property plus 185 & 189 Washburn.

20. 2023-04-01
    status Under Contract- Do Not Show 494-char remark

    Show marketing remark (494 chars)

    Cute starter home or good investment property close to many amenities. This solid, 3 bedroom, 1 full bathroom with 1,591 sq ft home is currently tenant occupied at $910/month. Tear off roof completed in 2005, furnace replaced in 2013, and how water tank replaced in 2014. Great opportunity to own this affordable home or your very first investment property. Won’t last long. Showings start immediately. Seller will consider a package offer of this property plus 185 & 189 Washburn.

21. 2022-12-20
    price $79,000 494-char remark

    Show marketing remark (494 chars)

    Cute starter home or good investment property close to many amenities. This solid, 3 bedroom, 1 full bathroom with 1,591 sq ft home is currently tenant occupied at $910/month. Tear off roof completed in 2005, furnace replaced in 2013, and how water tank replaced in 2014. Great opportunity to own this affordable home or your very first investment property. Won’t last long. Showings start immediately. Seller will consider a package offer of this property plus 185 & 189 Washburn.

22. 2022-11-04
    price $89,000 494-char remark

    Show marketing remark (494 chars)

    Cute starter home or good investment property close to many amenities. This solid, 3 bedroom, 1 full bathroom with 1,591 sq ft home is currently tenant occupied at $910/month. Tear off roof completed in 2005, furnace replaced in 2013, and how water tank replaced in 2014. Great opportunity to own this affordable home or your very first investment property. Won’t last long. Showings start immediately. Seller will consider a package offer of this property plus 185 & 189 Washburn.

23. 2022-09-22
    listed $99,000 Active 494-char remark

    Show marketing remark (494 chars)

    Cute starter home or good investment property close to many amenities. This solid, 3 bedroom, 1 full bathroom with 1,591 sq ft home is currently tenant occupied at $910/month. Tear off roof completed in 2005, furnace replaced in 2013, and how water tank replaced in 2014. Great opportunity to own this affordable home or your very first investment property. Won’t last long. Showings start immediately. Seller will consider a package offer of this property plus 185 & 189 Washburn.

ⓘ 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: $1,700 · $142/mo
• Projected year-2 tax: $2,032 · $169/mo
• Expected delta: +$332/yr (+$28/mo · 19.6%)

ⓘ 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 2/10 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: $16,943
• − Mortgage interest: −$7,837
• − Property taxes: −$1,700
• − Insurance: −$700
• − Repairs & maintenance: −$1,355
• − Management: −$1,355
• − Depreciation: −$4,070
• Taxable loss: −$73
• Est. tax savings @ 24.0%: +$18
• After-tax cash flow: $2,200/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

+41.3% since first listed

8 events — show timeline

• 2026-05-22 Listed $139,900 WNYREIS
• 2023-07-26 Sold (Public Records) $61,000 Public Records
• 2023-07-24 Sold (MLS) $61,000 WNYREIS
• 2023-06-26 Pending — WNYREIS
• 2023-04-01 Pending — WNYREIS
• 2022-12-20 Price Changed $79,000 WNYREIS
• 2022-11-04 Price Changed $89,000 WNYREIS
• 2022-09-22 Listed $99,000 WNYREIS

Property tax history

+6.8%/yr

Latest (2025): $1,700 · -29.0% YoY. Source: county tax records.