80 Charlotte St · Lockport, NY 14094

$165,000

4 bd · 2.0 ba · 1,608 sqft · MultiFamily public records · 53 Days on market

Built 1940 6,969 sqft lot

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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 +29.8/30.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• 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

Cash flow producing 2 unit ready for an owner occupant or investor. Freshly remodeled units; vacant lower unit offering 2 bed & 1 bath and occupied upper unit offering 1 bed & 1 bath. Great location and investment.

Key facts

• 6,969 sq ft lot
• 2 parking spots
• Built 1940

Property features AI

Finance

• Financial info: Owner pays trash collection and water; Operating expenses include insurance, trash, and water/sewer; Property operated as a 2-unit income property (both units leased); One unit reported rent $850

Exterior

• Parking: Gravel parking with two or more spaces
• Utilities: Public water connected; Sewer connected; Cable available; Circuit breaker electric service; Gas water heater
• Home design: Two-story multi-family building; Existing construction
• Construction: Composite siding; Shingle roof; Stone foundation; Built (existing)
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 43 x 165

Interior

• Kitchen: Oven/Range; Refrigerator; Eat-in kitchen in each unit
• Bedrooms: Two 2-bedroom units (each unit has 2 bedrooms)
• Flooring: Vinyl flooring; Varied flooring types
• Bathrooms: Two full bathrooms total (each unit has 1 full bathroom)
• Heating & cooling: Gas forced-air heating; Heating present
• Interior features: Thermal windows; Full basement
• Laundry & utility: One unit has in-unit laundry

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×1bd/1.0ba units multifamily listed at $165k.

Deal economics

• At list price, monthly cash flow is $607 ($7k/yr) — positive. Per door: $304/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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 36% 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 $46k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $51k; list at $165k implies a 224% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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. 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.
9. 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.
10. 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: 1.37% ✓
• Cap rate: 10.71%
• Cash-on-cash: 15.77%
• DSCR: 1.70
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $88,440
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17 Hill St	0.23mi	4/2.0	1,542 (-4%)	13mo	$170,000	$110	72
76 Charlotte St	0.01mi	4/2.0	1,480 (-8%)	22mo	$82,000	$55	68
168 Gooding St	0.42mi	4/2.0	1,600 (-0%)	16mo	$60,000	$38	66

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: 7.4%
• Equity multiple: 1.29×
• Total profit: $13,523
• Equity at exit: $24,602

10-year hold

• IRR: 17.3%
• Equity multiple: 2.48×
• Total profit: $68,177
• Equity at exit: $14,266

Cash invested: $46,200 (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 14094

• Rents YoY: 3.7%
• Active inventory: 357
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,259 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$243 /mo · $2,921/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $607

Break-even live

Break-even rent $1,490

Max offer price $165,000

Occupancy floor 68%

Sensitivity live

Price	-10% $701	-5% $654	+0% $607	+5% $560	+10% $514
Rent	-10% $429	-5% $518	+0% $607	+5% $696	+10% $786
Rate	-1.0pp $690	-0.5pp $649	base $607	+0.5pp $564	+1.0pp $521

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,260
1× unit	1	1	$999
Total (2 units)			$2,259

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-18
   days on market $165,000 Active 53 DOM
2. 2026-06-17
   days on market $165,000 Active 52 DOM
3. 2026-06-16
   days on market $165,000 Active 51 DOM
4. 2026-06-15
   days on market $165,000 Active 50 DOM
5. 2026-06-13
   days on market $165,000 Active 48 DOM
6. 2026-06-13
   days on market $165,000 Active 47 DOM
7. 2026-06-10
   days on market $165,000 Active 45 DOM
8. 2026-06-09
   days on market $165,000 Active 44 DOM
9. 2026-06-08
   days on market $165,000 Active 43 DOM
10. 2026-06-07
    days on market $165,000 Active 42 DOM
11. 2026-06-05
    pricedays on market $165,000 Active 39 DOM
12. 2026-06-03
    days on market $175,000 Active 38 DOM
13. 2026-06-02
    days on market $175,000 Active 37 DOM
14. 2026-06-01
    days on market $175,000 Active 36 DOM
15. 2026-05-31
    days on market $175,000 Active 35 DOM
16. 2026-04-25
    listed $175,000 Active
17. 2026-04-16
    historical
18. 2026-03-11
    price $175,000
19. 2026-02-24
    price $184,000
20. 2025-11-17
    listed $189,000 Active
21. 2022-09-05
    historical
22. 2022-06-03
    listed $142,500 Active
23. 2020-06-16
    soldstatus $51,000
24. 2020-06-12
    soldstatus $51,000 Closed Sale or Rented
25. 2020-02-18
    status Under Contract- Do Not Show
26. 2020-02-18
    historical Continue to Show- Under Contract
27. 2020-02-13
    price $50,000
28. 2019-12-18
    price $65,000
29. 2019-10-29
    listed $70,000 Active
30. 2017-12-01
    soldstatus $220,000
31. 2008-07-30
    soldstatus $25,000
32. 2003-01-02
    soldstatus $32,000
33. 2002-01-04
    soldstatus $32,000

ⓘ 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: $2,921 · $243/mo
• Projected year-2 tax: $2,921 · $243/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 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: $27,108
• − Mortgage interest: −$9,243
• − Property taxes: −$2,921
• − Insurance: −$825
• − Repairs & maintenance: −$2,169
• − Management: −$2,169
• − Depreciation: −$4,800
• Taxable income: $4,982
• Est. tax owed @ 24.0%: −$1,196
• After-tax cash flow: $6,090/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

+446.9% since first listed

18 events — show timeline

• 2026-04-25 Listed $175,000 WNYREIS
• 2026-04-16 Listing Removed — WNYREIS
• 2026-03-11 Price Changed $175,000 WNYREIS
• 2026-02-24 Price Changed $184,000 WNYREIS
• 2025-11-17 Listed $189,000 WNYREIS
• 2022-09-05 Listing Removed — WNYREIS
• 2022-06-03 Listed $142,500 WNYREIS
• 2020-06-16 Sold (Public Records) $51,000 Public Records
• 2020-06-12 Sold (MLS) $51,000 WNYREIS
• 2020-02-18 Pending — WNYREIS
• 2020-02-18 Contingent — WNYREIS
• 2020-02-13 Price Changed $50,000 WNYREIS
• 2019-12-18 Price Changed $65,000 WNYREIS
• 2019-10-29 Listed $70,000 WNYREIS
• 2017-12-01 Sold (Public Records) $220,000 Public Records
• 2008-07-30 Sold (Public Records) $25,000 Public Records
• 2003-01-02 Sold (Public Records) $32,000 Public Records
• 2002-01-04 Sold (Public Records) $32,000 Public Records

Property tax history

+11.0%/yr

Latest (2025): $2,921 · +3.3% YoY. Source: county tax records.