2225 South Ave · Niagara Falls, NY 14305

$90,000

2 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 15 Days on market

Built 1922 4,600 sqft lot $77/sqft · 28% below area Est $125k · 28% 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 +25.8/30.0
• ARV discount +15.0/15.0
• 1% rule +9.7/10.0
• DSCR +8.6/10.0
• 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

Listing remarks

This well taken care of home has plenty of updates including furnace, water tank, flooring and some windows. Very large bedrooms with walk-in closets. This home has the modern updates you want and still leaves old school charm. Currently bringing in great income.

Key facts

• 4,600 sq ft lot
• Built 1922
• Listed 15 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.

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; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($51k/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 $622 of loan paydown is wiped out by about $3k 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 15 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $61k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 4.2% of price; built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,650 (1.5% below list)

Questions for the listing agent

1. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.47% ✓
• Cap rate: 9.21%
• Cash-on-cash: 10.43%
• DSCR: 1.46
• GRM: 5.7

CMA / ARV

• ARV (median comp): $125,189
• List price: $90,000
• Delta: -28.11%
• 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
1812 Pierce Ave	0.35mi	3/1.0 (+1)	1,152 (-2%)	0mo	$65,000	$56	75
1870 South Ave	0.11mi	3/1.0 (+1)	1,320 (+12%)	0mo	$116,000	$88	69
1512 Willow Ave	0.47mi	3/1.0 (+1)	1,148 (-2%)	0mo	$39,300	$34	68
2189 Seneca Ave	0.35mi	3/1.5 (+1)	1,125 (-4%)	2mo	$130,000	$116	68
1852 Ontario Ave	0.24mi	3/1.0 (+1)	1,273 (+8%)	3mo	$85,000	$67	68
2540 Jerauld Ave	0.42mi	2/1.5	1,108 (-6%)	2mo	$223,000	$201	67
3213 Niagara Ave	0.58mi	3/1.0 (+1)	1,202 (+2%)	4mo	$180,000	$150	61
2219 Forest Ave	0.56mi	3/1.0 (+1)	1,116 (-5%)	5mo	$155,000	$139	56
2919 Michigan Ave	0.46mi	3/2.0 (+1)	1,272 (+8%)	5mo	$165,000	$130	52
1322 Whitney Ave	0.65mi	3/1.0 (+1)	1,248 (+6%)	5mo	$80,500	$65	51
1317 Niagara Ave	0.55mi	2/2.0	1,310 (+11%)	1mo	$28,000	$21	50
1307 Michigan Ave	0.59mi	3/1.5 (+1)	1,330 (+13%)	4mo	$41,000	$31	40

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: -0.5%
• Equity multiple: 0.98×
• Total profit: $-485
• Equity at exit: $13,419

10-year hold

• IRR: 9.3%
• Equity multiple: 1.72×
• Total profit: $18,134
• Equity at exit: $7,782

Cash invested: $25,200 (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: 5.7×

Monthly cashflow live

• Estimated rent: $1,322 high
• Mortgage (P&I): −$472
• Tax from tax record: −$316 /mo · $3,787/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $219

Break-even live

Break-even rent $1,044

Max offer price $90,000

Occupancy floor 78%

Sensitivity live

Price	-10% $270	-5% $245	+0% $219	+5% $194	+10% $168
Rent	-10% $115	-5% $167	+0% $219	+5% $271	+10% $324
Rate	-1.0pp $264	-0.5pp $242	base $219	+0.5pp $196	+1.0pp $172

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2463 South Ave Niagara Falls, NY	2.0	1.0	1008	$1,100	$1.09	17d	1	0.20mi
1817 Ontario Ave Unit 2 Niagara Falls, NY	2.0	1.0	985	$1,899	$1.93	2d	1	0.25mi
1817 Ontario Ave Unit 1 Niagara Falls, NY	2.0	1.0	999	$1,899	$1.90	2d	1	0.25mi
2473 Pierce Ave Unit 2 Niagara Falls, NY	2.0	1.0	1000	$1,200	$1.20	3d	1	0.38mi
1808 Whitney Ave Unit 3 Niagara Falls, NY	2.0	1.0	1200	$900	$0.75	44d	1	0.42mi
1001 17th St Niagara Falls, NY	3.0	1.0	1152	$1,800	$1.56	24d	1	0.61mi
769 19th St Niagara Falls, NY	2.0	1.5	960	$1,400	$1.46	21d	1	0.64mi
784 15th St Niagara Falls, NY	3.0	1.5	1380	$1,350	$0.98	3d	1	0.73mi
754 15th St Niagara Falls, NY	3.0	1.0	990	$1,100	$1.11	24d	1	0.80mi
2814 10th St Niagara Falls, NY	2.0	1.0	900	$900	$1.00	2d	1	1.00mi
613 13th St Unit 1 Niagara Falls, NY	2.0	1.0	750	$1,100	$1.47	17d	1	1.03mi
434 23rd St Unit Upper Niagara Falls, NY	2.0	1.0	816	$1,100	$1.35	15d	1	1.14mi
420 25th St Niagara Falls, NY	3.0	1.0	1101	$1,500	$1.36	44d	1	1.18mi
420 18th St Unit Upper Niagara Falls, NY	2.0	1.0	816	$1,150	$1.41	44d	1	1.19mi
642 Ashland Ave Niagara Falls, NY	3.0	1.0	1238	$1,100	$0.89	3d	1	1.20mi
1427 Fort Ave Unit 2 Niagara Falls, NY	3.0	1.0	1058	$950	$0.90	44d	1	1.20mi
2727 Monroe Ave Niagara Falls, NY	3.0	1.0	960	$1,500	$1.56	11d	1	1.22mi
700 Pine Ave Unit 1 Niagara Falls, NY	1.0	1.0	1075	$1,075	$1.00	12d	1	1.25mi
1780 Falls St Niagara Falls, NY	2.0	1.0	1100	$1,200	$1.09	44d	1	1.31mi
616 7th St Niagara Falls, NY	2.0	1.0	770	$1,150	$1.49	24d	1	1.32mi
3626 Dudley Ave Niagara Falls, NY	2.0	1.0	700	$1,250	$1.79	44d	1	1.36mi
3036 Welch Ave Niagara Falls, NY	3.0	1.0	1000	$1,500	$1.50	2d	1	1.38mi
3340 Simmons Ave Niagara Falls, NY	3.0	1.0	1008	$1,550	$1.54	15d	1	1.44mi
510 6th St Unit 3 Niagara Falls, NY	1.0	1.0	950	$900	$0.95	44d	1	1.47mi

Listing history 18 events

1. 2026-06-18
   days on market $90,000 Active 15 DOM
2. 2026-06-17
   days on market $90,000 Active 14 DOM
3. 2026-06-16
   days on market $90,000 Active 13 DOM
4. 2026-06-15
   days on market $90,000 Active 12 DOM
5. 2026-06-13
   days on market $90,000 Active 10 DOM
6. 2026-06-13
   days on market $90,000 Active 9 DOM
7. 2026-06-10
   days on market $90,000 Active 7 DOM
8. 2026-06-09
   days on market $90,000 Active 6 DOM
9. 2026-06-08
   status $90,000 Active 5 DOM
10. 2026-06-02
    statusdays on market $90,000 Pending 5 DOM
11. 2026-06-01
    days on market $90,000 Active 4 DOM
12. 2026-05-31
    days on market $90,000 Active 3 DOM
13. 2026-05-17
    historical
14. 2026-03-13
    price $90,000
15. 2025-11-17
    listed $100,000 Active
16. 2015-05-31
    historical
17. 2015-05-13
    listed $34,900 Active
18. 2010-02-02
    soldstatus $61,000

ⓘ 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: $3,787 · $316/mo
• Projected year-2 tax: $3,787 · $316/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) · 48% 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: $15,860
• − Mortgage interest: −$5,041
• − Property taxes: −$3,787
• − Insurance: −$450
• − Repairs & maintenance: −$1,269
• − Management: −$1,269
• − Depreciation: −$2,618
• Taxable income: $1,426
• Est. tax owed @ 24.0%: −$342
• After-tax cash flow: $2,287/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

+47.5% since first listed

6 events — show timeline

• 2026-05-17 Listing Removed — WNYREIS
• 2026-03-13 Price Changed $90,000 WNYREIS
• 2025-11-17 Listed $100,000 WNYREIS
• 2015-05-31 Listing Removed — WNYREIS
• 2015-05-13 Listed $34,900 WNYREIS
• 2010-02-02 Sold (Public Records) $61,000 Public Records

Property tax history

+7.5%/yr

Latest (2025): $3,787 · +6.7% YoY. Source: county tax records.