720 Monteagle St

Niagara Falls, NY 14305

$88,900B

3 bd · 1.0 ba · 1,224 sqft · Built 1902 · SingleFamily · Active · 53 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,272/mo
• Mortgage (P&I): −$466
• Tax + insurance: −$258
• HOA: −$0
• Vac / Maint / Mgmt: −$267
• Net cashflow: $281/mo
• Annual: $3,375/yr
• Cap rate: 10.09%
• Cash-on-cash: 13.56%
• DSCR: 1.60
• 1% rule: 1.43%
• Cash to close: $24,892

Investor read

• This is a 3-bed/1.0-bath single-family listed at $89k. Condition is rated fair.
• At list price, monthly cash flow is $281 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• It's been on market 53 days — a 3% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $86k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $615 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: Maple Avenue School (math 17% / reading 27%, grade F, #1,923 of 2,108 statewide, top 92%, 397 students, 72% FRL); Gaskill Preparatory School (math 10% / reading 22%, grade F, #702 of 729 statewide, top 96%, 500 students, 78% FRL); Niagara Falls High School (math 75% / reading 92%, grade A, #409 of 1,100 statewide, top 39%, 2,139 students, 71% FRL).
• Watch-outs: property tax is 3.0% of price; built in 1902 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 189 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 53d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 69% 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.
• 4 sale attempts 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.
• Cap rate 10.1% vs local median 8.1% in Niagara Falls — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• 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?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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)

• Moderate: exterior siding — Weathered and faded
• Moderate: exterior paint — Faded and uneven