285 Clinton St · Lockport, NY 14094

$159,000

4 bd · 2.0 ba · 2,448 sqft · MultiFamily public records · 93 Days on market

Built 1890 2,614 sqft lot Est $193k · 18% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• 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

Multi-family units

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

Listing remarks MLS

Great investment opportunity. Live in one unit and rent out the other. 3/3 unit located on a corner lot! Plenty of living space, room for parking and separate utilities. So much potential!

Key facts

• Fully leased
• Spacious layouts
• Central location

Tags

• FULLY LEASED
• SEPARATE ENTRANCES
• SPACIOUS LAYOUTS
• UTILITIES ARE SEPARATED
• CENTRAL LOCATION
• EASY ACCESS TO SHOPPING

Property features AI

Finance

• Financial info: Two-unit building with separate gas and electric meters for each unit; Unit rents: one unit at $1,000; the other at $925; Owner pays trash collection and water; rent includes trash collection and water; Operating expenses include trash and water/sewer

Exterior

• Parking: One-car garage; One additional parking space
• Utilities: Public water connected; Sewer connected
• Home design: Two-story multifamily building; Resale property
• Construction: Vinyl siding; Asphalt shingle roof; Stone foundation; Existing (previously built) structure
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 33 x 82

Interior

• Kitchen: Eat-in kitchens; Oven/range
• Bedrooms: Two-bedroom units (both units)
• Flooring: Carpet; Vinyl; Varied flooring
• Bathrooms: Two full bathrooms total (one full bath per unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Carpet and vinyl flooring in varied areas; Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $159k.

Deal economics

• At list price, monthly cash flow is $696 ($8k/yr) — positive. Per door: $348/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $145k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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; solid renter incomes; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% 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 $5k 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 $45k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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 $52k; list at $159k implies a 206% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $144,690 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.39% ✓
• Cap rate: 11.55%
• Cash-on-cash: 18.76%
• DSCR: 1.83
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $193,392
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
129 Lock St	0.57mi	4/2.0	2,492 (+2%)	0mo	$96,000	$39	70
179 Lock St	0.50mi	4/2.0	2,275 (-7%)	11mo	$200,000	$88	56
247 Lock St	0.45mi	5/3.0 (+1)	2,240 (-8%)	6mo	$187,000	$83	50
35 Pound St	0.58mi	3/2.5 (-1)	2,163 (-12%)	9mo	$150,000	$69	39
389 East Ave	0.58mi	4/2.0	2,720 (+11%)	20mo	$215,000	$79	38

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: 11.3%
• Equity multiple: 1.45×
• Total profit: $20,064
• Equity at exit: $23,707

10-year hold

• IRR: 20.8%
• Equity multiple: 2.81×
• Total profit: $80,792
• Equity at exit: $13,747

Cash invested: $44,520 (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: 12.0×

Monthly cashflow live

• Estimated rent: $2,208 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$148 /mo · $1,779/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $696

Break-even live

Break-even rent $1,327

Max offer price $159,000

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,208
Total (2 units)			$2,208

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-05
   days on market $159,000 Active 93 DOM
2. 2026-06-03
   days on market $159,000 Active 92 DOM
3. 2026-06-02
   days on market $159,000 Active 91 DOM
4. 2026-06-01
   days on market $159,000 Active 90 DOM
5. 2026-05-31
   days on market $159,000 Active 89 DOM
6. 2026-03-03
   listed $159,000 Active
7. 2022-09-05
   historical
8. 2022-06-03
   listed $142,500 Active
9. 2019-02-15
   soldstatus $52,000 Closed Sale or Rented 188-char remark

   Show marketing remark (188 chars)

   Great investment opportunity. Live in one unit and rent out the other. 3/3 unit located on a corner lot! Plenty of living space, room for parking and separate utilities. So much potential!

10. 2019-01-12
    status Pending Sale 188-char remark

    Show marketing remark (188 chars)

    Great investment opportunity. Live in one unit and rent out the other. 3/3 unit located on a corner lot! Plenty of living space, room for parking and separate utilities. So much potential!

11. 2019-01-08
    status Under Contract- Do Not Show 188-char remark

    Show marketing remark (188 chars)

    Great investment opportunity. Live in one unit and rent out the other. 3/3 unit located on a corner lot! Plenty of living space, room for parking and separate utilities. So much potential!

12. 2018-12-21
    price $57,500 188-char remark

    Show marketing remark (188 chars)

    Great investment opportunity. Live in one unit and rent out the other. 3/3 unit located on a corner lot! Plenty of living space, room for parking and separate utilities. So much potential!

13. 2018-11-12
    listed $59,900 Active 188-char remark

    Show marketing remark (188 chars)

    Great investment opportunity. Live in one unit and rent out the other. 3/3 unit located on a corner lot! Plenty of living space, room for parking and separate utilities. So much potential!

14. 2006-11-22
    soldstatus $55,000

ⓘ 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: $1,779 · $148/mo
• Projected year-2 tax: $2,233 · $186/mo
• Expected delta: +$454/yr (+$38/mo · 25.5%)

ⓘ 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 ≥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: $26,496
• − Mortgage interest: −$8,906
• − Property taxes: −$1,779
• − Insurance: −$795
• − Repairs & maintenance: −$2,120
• − Management: −$2,120
• − Depreciation: −$4,625
• Taxable income: $6,150
• Est. tax owed @ 24.0%: −$1,476
• After-tax cash flow: $6,876/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

+189.1% since first listed

9 events — show timeline

• 2026-03-03 Listed $159,000 WNYREIS
• 2022-09-05 Listing Removed — WNYREIS
• 2022-06-03 Listed $142,500 WNYREIS
• 2019-02-15 Sold (MLS) $52,000 WNYREIS
• 2019-01-12 Pending — WNYREIS
• 2019-01-08 Pending — WNYREIS
• 2018-12-21 Price Changed $57,500 WNYREIS
• 2018-11-12 Listed $59,900 WNYREIS
• 2006-11-22 Sold (Public Records) $55,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $1,779 · +2.3% YoY. Source: county tax records.