335 Pine St · Lockport, NY 14094

$179,900

4 bd · 2.0 ba · 2,216 sqft · MultiFamily public records · 11 Days on market

Built 1900 6,970 sqft lot

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Why this score? — see what drove the C+ 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 +25.1/30.0
• DSCR +8.2/10.0
• 1% rule +7.6/10.0
• 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 MLS

Invest in Lockport! Take advantage of an opportunity to own a 2/2 double close to transit amenities. The upper unit has plenty of open space, original hardwood flooring, and updated bathroom. The lower unit has updated vinyl plank flooring, newer 6 panel doors, covered front porch and in unit laundry. Updates to the exterior include newer windows and roof.

Key facts

• Large windows
• Spacious backyard
• Two-family home

Tags

• TWO-FAMILY HOME
• ABUNDANT NATURAL LIGHT
• LARGE WINDOWS
• GENEROUS LIVING SPACES
• SPACIOUS BACKYARD
• IMMEDIATE RENTAL INCOME

Property features AI

Finance

• Other: 2 total units with separate gas and electric meters for each unit; Operating expense details: see remarks
• Financial info: Owner pays water; water is included with rent

Exterior

• Parking: Two or more off-street parking spaces
• Utilities: Public water connected; Septic tank sewer
• Home design: 2-story residence; Resale property
• Construction: Vinyl siding; Wood siding; Existing construction
• Exterior features: Rectangular lot (35 x 199)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric baseboard heating
• Interior features: Partial basement; Has heating
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $400 ($5k/yr) — positive. Per door: $200/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Cap rate 9.0% 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); 362 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 $50k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 13y ago 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.
• Current owner paid $134k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $179,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.26% ✓
• Cap rate: 8.96%
• Cash-on-cash: 9.52%
• DSCR: 1.42
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $79,776
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
87 Locust St	0.50mi	5/3.0 (+1)	2,208 (-0%)	0mo	$20,000	$9	67
35 South St	0.48mi	5/3.0 (+1)	2,070 (-7%)	14mo	$162,000	$78	46
217 Genesee St	0.49mi	5/2.0 (+1)	2,464 (+11%)	21mo	$87,500	$36	36

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: -1.1%
• Equity multiple: 0.96×
• Total profit: $-2,041
• Equity at exit: $26,824

10-year hold

• IRR: 9.4%
• Equity multiple: 1.75×
• Total profit: $37,874
• Equity at exit: $15,554

Cash invested: $50,372 (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: 362
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $2,260 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$367 /mo · $4,408/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $400

Break-even live

Break-even rent $1,754

Max offer price $179,900

Occupancy floor 77%

Sensitivity live

Price	-10% $502	-5% $451	+0% $400	+5% $349	+10% $298
Rent	-10% $221	-5% $310	+0% $400	+5% $489	+10% $578
Rate	-1.0pp $490	-0.5pp $445	base $400	+0.5pp $353	+1.0pp $306

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

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

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-05-12
   status Pending
2. 2026-05-01
   listed $179,900 Active
3. 2024-01-11
   soldstatus $134,000 Closed 358-char remark

   Show marketing remark (358 chars)

   Invest in Lockport! Take advantage of an opportunity to own a 2/2 double close to transit amenities. The upper unit has plenty of open space, original hardwood flooring, and updated bathroom. The lower unit has updated vinyl plank flooring, newer 6 panel doors, covered front porch and in unit laundry. Updates to the exterior include newer windows and roof.

4. 2023-12-27
   status Pending 358-char remark

   Show marketing remark (358 chars)

   Invest in Lockport! Take advantage of an opportunity to own a 2/2 double close to transit amenities. The upper unit has plenty of open space, original hardwood flooring, and updated bathroom. The lower unit has updated vinyl plank flooring, newer 6 panel doors, covered front porch and in unit laundry. Updates to the exterior include newer windows and roof.

5. 2023-10-24
   status Pending Sale 358-char remark

   Show marketing remark (358 chars)

   Invest in Lockport! Take advantage of an opportunity to own a 2/2 double close to transit amenities. The upper unit has plenty of open space, original hardwood flooring, and updated bathroom. The lower unit has updated vinyl plank flooring, newer 6 panel doors, covered front porch and in unit laundry. Updates to the exterior include newer windows and roof.

6. 2023-10-23
   status Under Contract- Do Not Show 358-char remark

   Show marketing remark (358 chars)

   Invest in Lockport! Take advantage of an opportunity to own a 2/2 double close to transit amenities. The upper unit has plenty of open space, original hardwood flooring, and updated bathroom. The lower unit has updated vinyl plank flooring, newer 6 panel doors, covered front porch and in unit laundry. Updates to the exterior include newer windows and roof.

7. 2023-10-11
   listed $134,000 Active 358-char remark

   Show marketing remark (358 chars)

   Invest in Lockport! Take advantage of an opportunity to own a 2/2 double close to transit amenities. The upper unit has plenty of open space, original hardwood flooring, and updated bathroom. The lower unit has updated vinyl plank flooring, newer 6 panel doors, covered front porch and in unit laundry. Updates to the exterior include newer windows and roof.

8. 2022-03-01
   historical
9. 2022-02-04
   listed $134,900 Active
10. 2016-03-16
    soldstatus $50,000 Closed Sale or Rented
11. 2016-03-16
    soldstatus $50,000
12. 2015-08-31
    status Pending Sale
13. 2015-06-23
    listed $55,000 Active
14. 2015-05-22
    historical
15. 2015-05-13
    listed $58,500 Active
16. 2013-11-19
    listed $58,500
17. 1994-05-17
    soldstatus $63,900

ⓘ 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: $4,408 · $367/mo
• Projected year-2 tax: $4,408 · $367/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 1/10 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: $27,120
• − Mortgage interest: −$10,077
• − Property taxes: −$4,408
• − Insurance: −$900
• − Repairs & maintenance: −$2,170
• − Management: −$2,170
• − Depreciation: −$5,233
• Taxable income: $2,162
• Est. tax owed @ 24.0%: −$519
• After-tax cash flow: $4,277/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

+181.5% since first listed

17 events — show timeline

• 2026-05-12 Pending — WNYREIS
• 2026-05-01 Listed $179,900 WNYREIS
• 2024-01-11 Sold (MLS) $134,000 WNYREIS
• 2023-12-27 Pending — WNYREIS
• 2023-10-24 Pending — WNYREIS
• 2023-10-23 Pending — WNYREIS
• 2023-10-11 Listed $134,000 WNYREIS
• 2022-03-01 Listing Removed — WNYREIS
• 2022-02-04 Listed $134,900 WNYREIS
• 2016-03-16 Sold (Public Records) $50,000 Public Records
• 2016-03-16 Sold (MLS) $50,000 WNYREIS
• 2015-08-31 Pending — WNYREIS
• 2015-06-23 Listed $55,000 WNYREIS
• 2015-05-22 Listing Removed — WNYREIS
• 2015-05-13 Listed $58,500 WNYREIS
• 2013-11-19 Listed $58,500 WNYREIS
• 1994-05-17 Sold (Public Records) $63,900 Public Records

Property tax history

+6.3%/yr

Latest (2025): $4,408 · +2.7% YoY. Source: county tax records.