1720 Hyde Park Blvd · Niagara Falls, NY 14305

$139,900

4 bd · 2.0 ba · 2,000 sqft · MultiFamily public records · 37 Days on market

Built 1925 3,156 sqft lot $70/sqft · 31% below area Est $203k · 31% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

MUST SEE!!! Come see this SPACIOUS, 2/2 Double, just minutes away from Goat Island, Niagara Falls State Park, Devil’s Hole State Park, Whirlpool State Park, and the Rainbow Bridge! Character & cash flow abounds in this 2000+ sq ft INVESTOR SPECIAL property featuring period woodwork, high ceilings & laminate floors throughout! Both units are occupied and are income producing! Some updates have been done including some newer windows, newer HW heater, and paint. Low taxes & close to ALL the conveniences of Niagara Falls! Showings begin immediately.

Key facts

• Walk up attic
• New roof
• New windows

Tags

• NEW ROOF
• NEW WINDOWS
• DRY BASEMENT
• WALK UP ATTIC
• ADJACENT TO HYDE PARK

Property features AI

Finance

• Financial info: Tenant pays all utilities; Operating expenses may include maintenance and professional management

Exterior

• Parking: Detached or attached garage (2-car garage); Paved parking
• Utilities: Electricity connected (circuit breakers); Public water connected; Sewer connected
• Home design: 2 stories; Existing (previously built); Residential 2-unit zoning
• Construction: Composite siding; Asphalt roof; Copper and PEX plumbing; Block and poured foundation
• Exterior features: Balcony; Paved driveway/parking; City street frontage; Residential lot

Interior

• Kitchen: Gas water heater
• Bedrooms: 2-unit property (multi-family)
• Flooring: Hardwood; Laminate; Vinyl; Varies
• Bathrooms: 3 full bathrooms (total)
• Heating & cooling: Gas forced-air heating; Wall cooling units
• Interior features: Full basement; Balcony; Near public transit; Rectangular lot
• Laundry & utility: Separate gas meters for each unit; Separate electric meters for each unit

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $847 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.6% 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 $2,527/mo this rent would consume 59% 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 $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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 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 $72k; list at $140k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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. 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: 1.81% ✓
• Cap rate: 13.56%
• Cash-on-cash: 25.96%
• DSCR: 2.16
• GRM: 4.6

CMA / ARV

• ARV (median comp): $203,477
• List price: $139,900
• Delta: -31.25%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2463 South Ave	0.12mi	4/2.0	2,016 (+1%)	3mo	$137,500	$68	90
2208 Weston Ave	0.34mi	4/2.0	2,016 (+1%)	1mo	$55,000	$27	82
2459 La Salle Ave	0.39mi	4/2.0	1,920 (-4%)	2mo	$160,000	$83	74
2443 Pierce Ave	0.28mi	4/2.0	2,112 (+6%)	4mo	$120,000	$57	74
1867 Michigan Ave	0.41mi	4/2.0	2,100 (+5%)	2mo	$87,000	$41	71
2455 La Salle Ave	0.39mi	4/2.0	2,152 (+8%)	3mo	$112,000	$52	67
1623 Linwood Ave	0.65mi	4/2.0	1,994 (-0%)	3mo	$100,000	$50	67
2409 La Salle Ave	0.43mi	4/2.0	2,154 (+8%)	6mo	$185,000	$86	62
1811 Weston Ave	0.52mi	5/3.0 (+1)	1,998 (-0%)	6mo	$140,000	$70	61
2449 Grand Ave	0.65mi	5/2.0 (+1)	1,918 (-4%)	4mo	$135,000	$70	55
1635 South Ave	0.62mi	5/2.0 (+1)	2,208 (+10%)	2mo	$85,000	$38	47
1535 Pierce Ave	0.73mi	4/2.0	1,724 (-14%)	2mo	$35,000	$20	41

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: 19.7%
• Equity multiple: 1.80×
• Total profit: $31,455
• Equity at exit: $20,860

10-year hold

• IRR: 28.0%
• Equity multiple: 3.49×
• Total profit: $97,501
• 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 14305

• Home prices YoY: -10.9%
• Active inventory: 142
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,527 high
• Mortgage (P&I): −$734
• Tax from tax record: −$357 /mo · $4,283/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$531
• Net cashflow: $847

Break-even live

Break-even rent $1,454

Max offer price $139,900

Occupancy floor 61%

Sensitivity live

Price	-10% $927	-5% $887	+0% $847	+5% $808	+10% $768
Rent	-10% $648	-5% $748	+0% $847	+5% $947	+10% $1,047
Rate	-1.0pp $918	-0.5pp $883	base $847	+0.5pp $811	+1.0pp $774

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

Units	Beds	Baths	Est. rent
1× unit	2	2	$1,263
1× unit	2	1	$1,263
Total (2 units)			$2,527

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 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	18d	1	0.62mi
1935 Niagara St Unit Upper Niagara Falls, NY	3.0	1.0	2685	$1,200	$0.45	15d	1	1.23mi

Listing history 25 events

1. 2026-06-18
   days on market $139,900 Active 37 DOM
2. 2026-06-17
   days on market $139,900 Active 36 DOM
3. 2026-06-16
   days on market $139,900 Active 35 DOM
4. 2026-06-15
   days on market $139,900 Active 34 DOM
5. 2026-06-13
   days on market $139,900 Active 32 DOM
6. 2026-06-13
   days on market $139,900 Active 31 DOM
7. 2026-06-10
   days on market $139,900 Active 29 DOM
8. 2026-06-09
   days on market $139,900 Active 28 DOM
9. 2026-06-08
   days on market $139,900 Active 27 DOM
10. 2026-06-07
    days on market $139,900 Active 26 DOM
11. 2026-06-03
    days on market $139,900 Active 22 DOM
12. 2026-06-02
    days on market $139,900 Active 21 DOM
13. 2026-06-01
    days on market $139,900 Active 20 DOM
14. 2026-05-31
    days on market $139,900 Active 19 DOM
15. 2026-05-12
    listed $139,900 Active 1185-char remark
16. 2022-12-29
    soldstatus $72,000
17. 2022-12-22
    soldstatus $72,000 Closed Sale or Rented 575-char remark

    Show marketing remark (575 chars)

    MUST SEE!!! Come see this SPACIOUS, 2/2 Double, just minutes away from Goat Island, Niagara Falls State Park, Devil’s Hole State Park, Whirlpool State Park, and the Rainbow Bridge! Character & cash flow abounds in this 2000+ sq ft INVESTOR SPECIAL property featuring period woodwork, high ceilings & laminate floors throughout! Both units are occupied and are income producing! Some updates have been done including some newer windows, newer HW heater, and paint. Low taxes & close to ALL the conveniences of Niagara Falls! Showings begin immediately.

18. 2022-10-14
    status Pending Sale 575-char remark

    Show marketing remark (575 chars)

    MUST SEE!!! Come see this SPACIOUS, 2/2 Double, just minutes away from Goat Island, Niagara Falls State Park, Devil’s Hole State Park, Whirlpool State Park, and the Rainbow Bridge! Character & cash flow abounds in this 2000+ sq ft INVESTOR SPECIAL property featuring period woodwork, high ceilings & laminate floors throughout! Both units are occupied and are income producing! Some updates have been done including some newer windows, newer HW heater, and paint. Low taxes & close to ALL the conveniences of Niagara Falls! Showings begin immediately.

19. 2022-10-04
    status Under Contract- Do Not Show 575-char remark

    Show marketing remark (575 chars)

    MUST SEE!!! Come see this SPACIOUS, 2/2 Double, just minutes away from Goat Island, Niagara Falls State Park, Devil’s Hole State Park, Whirlpool State Park, and the Rainbow Bridge! Character & cash flow abounds in this 2000+ sq ft INVESTOR SPECIAL property featuring period woodwork, high ceilings & laminate floors throughout! Both units are occupied and are income producing! Some updates have been done including some newer windows, newer HW heater, and paint. Low taxes & close to ALL the conveniences of Niagara Falls! Showings begin immediately.

20. 2022-09-12
    price $79,900 575-char remark

    Show marketing remark (575 chars)

    MUST SEE!!! Come see this SPACIOUS, 2/2 Double, just minutes away from Goat Island, Niagara Falls State Park, Devil’s Hole State Park, Whirlpool State Park, and the Rainbow Bridge! Character & cash flow abounds in this 2000+ sq ft INVESTOR SPECIAL property featuring period woodwork, high ceilings & laminate floors throughout! Both units are occupied and are income producing! Some updates have been done including some newer windows, newer HW heater, and paint. Low taxes & close to ALL the conveniences of Niagara Falls! Showings begin immediately.

21. 2022-09-12
    status Active 575-char remark

    Show marketing remark (575 chars)

    MUST SEE!!! Come see this SPACIOUS, 2/2 Double, just minutes away from Goat Island, Niagara Falls State Park, Devil’s Hole State Park, Whirlpool State Park, and the Rainbow Bridge! Character & cash flow abounds in this 2000+ sq ft INVESTOR SPECIAL property featuring period woodwork, high ceilings & laminate floors throughout! Both units are occupied and are income producing! Some updates have been done including some newer windows, newer HW heater, and paint. Low taxes & close to ALL the conveniences of Niagara Falls! Showings begin immediately.

22. 2022-08-03
    status Pending Sale 575-char remark

    Show marketing remark (575 chars)

    MUST SEE!!! Come see this SPACIOUS, 2/2 Double, just minutes away from Goat Island, Niagara Falls State Park, Devil’s Hole State Park, Whirlpool State Park, and the Rainbow Bridge! Character & cash flow abounds in this 2000+ sq ft INVESTOR SPECIAL property featuring period woodwork, high ceilings & laminate floors throughout! Both units are occupied and are income producing! Some updates have been done including some newer windows, newer HW heater, and paint. Low taxes & close to ALL the conveniences of Niagara Falls! Showings begin immediately.

23. 2022-07-28
    status Under Contract- Do Not Show 575-char remark

    Show marketing remark (575 chars)

    MUST SEE!!! Come see this SPACIOUS, 2/2 Double, just minutes away from Goat Island, Niagara Falls State Park, Devil’s Hole State Park, Whirlpool State Park, and the Rainbow Bridge! Character & cash flow abounds in this 2000+ sq ft INVESTOR SPECIAL property featuring period woodwork, high ceilings & laminate floors throughout! Both units are occupied and are income producing! Some updates have been done including some newer windows, newer HW heater, and paint. Low taxes & close to ALL the conveniences of Niagara Falls! Showings begin immediately.

24. 2022-07-11
    listed $89,900 Active 575-char remark

    Show marketing remark (575 chars)

    MUST SEE!!! Come see this SPACIOUS, 2/2 Double, just minutes away from Goat Island, Niagara Falls State Park, Devil’s Hole State Park, Whirlpool State Park, and the Rainbow Bridge! Character & cash flow abounds in this 2000+ sq ft INVESTOR SPECIAL property featuring period woodwork, high ceilings & laminate floors throughout! Both units are occupied and are income producing! Some updates have been done including some newer windows, newer HW heater, and paint. Low taxes & close to ALL the conveniences of Niagara Falls! Showings begin immediately.

25. 2005-10-11
    soldstatus $49,500

ⓘ 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: $4,283 · $357/mo
• Projected year-2 tax: $4,283 · $357/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 5/10 Major FEMA zone X (unshaded) · 65% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 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: $30,324
• − Mortgage interest: −$7,837
• − Property taxes: −$4,283
• − Insurance: −$700
• − Repairs & maintenance: −$2,426
• − Management: −$2,426
• − Depreciation: −$4,070
• Taxable income: $8,583
• Est. tax owed @ 24.0%: −$2,060
• After-tax cash flow: $8,109/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

+182.6% since first listed

11 events — show timeline

• 2026-05-12 Listed $139,900 WNYREIS
• 2022-12-29 Sold (Public Records) $72,000 Public Records
• 2022-12-22 Sold (MLS) $72,000 WNYREIS
• 2022-10-14 Pending — WNYREIS
• 2022-10-04 Pending — WNYREIS
• 2022-09-12 Price Changed $79,900 WNYREIS
• 2022-09-12 Relisted — WNYREIS
• 2022-08-03 Pending — WNYREIS
• 2022-07-28 Pending — WNYREIS
• 2022-07-11 Listed $89,900 WNYREIS
• 2005-10-11 Sold (Public Records) $49,500 Public Records

Property tax history

+6.2%/yr

Latest (2025): $4,283 · +30.7% YoY. Source: county tax records.