538 59th St

Niagara Falls, NY 14304

$99,900B+

4 bd · 1.0 ba · 1,224 sqft · Built 1973 · SingleFamily · Active · 65 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,603/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$139
• HOA: −$0
• Vac / Maint / Mgmt: −$337
• Net cashflow: $603/mo
• Annual: $7,238/yr
• Cap rate: 13.54%
• Cash-on-cash: 25.88%
• DSCR: 2.15
• 1% rule: 1.60%
• Cash to close: $27,972

Investor read

• This is a 4-bed/1.0-bath single-family listed at $100k. Condition is rated fair.
• At list price, monthly cash flow is $603 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• It's been on market 65 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#956 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute 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.
• Zoned schools: Cataract Elementary School (math 12% / reading 27%, grade F, #1,992 of 2,108 statewide, top 95%, 531 students, 76% FRL); Lasalle Preparatory School (math 24% / reading 35%, grade F, #550 of 729 statewide, top 77%, 500 students, 65% FRL); Niagara Falls High School (math 75% / reading 92%, grade A, #409 of 1,100 statewide, top 39%, 2,139 students, 71% FRL).
• Zoned-school proficiency averages 44% at this address vs 30% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Niagara Falls City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 206 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 39d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• 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 $28k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 13.5% vs local median 8.1% 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.

Questions for listing agent

• It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Siding — The siding is worn and peeling, indicating significant damage.
• Major: Roof — The roof appears aged and may have leaks or damage.
• Major: Electrical panel — The panel is outdated and in need of replacement.