1788 Bedell Rd

Niagara Falls, NY 14072

$295,000D+

5 bd · 3.0 ba · 1,866 sqft · Built 1969 · SingleFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,702/mo
• Mortgage (P&I): −$1,547
• Tax + insurance: −$654
• HOA: −$0
• Vac / Maint / Mgmt: −$567
• Net cashflow: $-66/mo
• Annual: $-793/yr
• Cap rate: 6.02%
• Cash-on-cash: -0.96%
• DSCR: 0.96
• 1% rule: 0.92%
• Cash to close: $82,600

Investor read

• This is a 5-bed/3.0-bath single-family listed at $295k.
• At list price, monthly cash flow is $-66 ($-793/yr) — negative.
• To cash-flow at today's rent, offer at most $283k (4.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $270k (8.4% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $270k (8.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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.
• Grand Island Central School District (suburban): math 54% / reading 57% proficiency, ranked #263 of 590 in NY (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Charlotte Sidway School (471 students, 21% FRL); Veronica E Connor Middle School (math 32% / reading 53%, grade D-, #373 of 729 statewide, top 52%, 679 students, 28% FRL); Grand Island Senior High School (math 95% / reading 72%, grade A, #409 of 1,100 statewide, top 39%, 868 students, 26% FRL).
• Market conditions: 130 active listings in the ZIP; high-income renter base; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.