1823 Whitney Ave · Niagara Falls, NY 14301

$94,900

4 bd · 2.0 ba · 1,729 sqft · MultiFamily public records · 16 Days on market

Built 1900 4,960 sqft lot Est $111k · 14% under

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Why this score? — see what drove the A 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 +30.0/30.0
• ARV discount +13.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Rent growth +4.7/5.0
• Livability +3.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Endless possibilities await with this versatile Niagara Falls property! Most recently used as a single-family home, this residence can easily be converted back to a two-family home, offering excellent potential for owner-occupants, investors, or multi-generational living. The first floor features a spacious eat-in kitchen, a comfortable one-bedroom layout, and a charming clawfoot tub that adds character and timeless appeal. Upstairs, you'll find two additional bedrooms and ample living space. A full basement provides plenty of storage, while the detached one-car garage and large rear parking area offer space for up to five vehicles. Whether you're looking for a place to call home, an investment opportunity, or both, this property delivers flexibility and value in a convenient Niagara Falls location close to shopping, dining, and local attractions.

Key facts

• Two-family home
• Full basement
• Single-family home

Tags

• SINGLE-FAMILY HOME
• TWO-FAMILY HOME
• SPACIOUS EAT-IN KITCHEN
• CHARMING CLAWFOOT TUB
• FULL BASEMENT
• DETACHED ONE-CAR GARAGE

Property features AI

Exterior

• Parking: Detached garage; 1 garage space
• Utilities: Public water connected; Sewer connected
• Home design: 2-story house; Existing (resale) property
• Construction: Aluminum siding and brick exterior; Architectural shingle roof; Stone foundation; Built previously (existing structure)
• Exterior features: Enclosed porch; Open porch; Blacktop driveway; Concrete driveway; Located near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Electric oven; Electric range
• Bedrooms: One main-level bedroom
• Flooring: Carpet; Hardwood; Laminate; Varied flooring
• Bathrooms: Two full bathrooms; One full bathroom on the main level
• Heating & cooling: Gas forced-air heating
• Interior features: Den; Entrance foyer; Eat-in kitchen; Bedroom on main level; Full basement
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $95k.

Deal economics

• At list price, monthly cash flow is $627 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $93k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.2% vs local median 7.7% 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.

Location & tenants

• Location reads 60/100 on livability (#956 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities 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.
• Market conditions: Rents rising fast (+8.8%/yr); 164 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• At $1,533/mo this rent would consume 53% of the median local household income ($35k/yr) (locally 954% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $10k of equity ($656 loan paydown + $9k appreciation (10.0% local appreciation)).
• Niagara County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $27k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $16k; list at $95k implies a 493% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $93,476 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.61% ✓
• Cap rate: 14.22%
• Cash-on-cash: 28.31%
• DSCR: 2.26
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $110,656
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1535 Pierce Ave	0.17mi	4/2.0	1,724 (-0%)	2mo	$35,000	$20	89
1333 North Ave	0.67mi	4/2.0	1,728 (-0%)	2mo	$100,000	$58	67
614 20th St	0.47mi	4/2.0	1,570 (-9%)	1mo	$100,000	$64	62
1361 North Ave	0.65mi	3/2.0 (-1)	1,711 (-1%)	2mo	$76,000	$44	62
746 17th St	0.31mi	4/2.0	1,475 (-15%)	1mo	$72,000	$49	61
2459 La Salle Ave	0.42mi	4/2.0	1,920 (+11%)	2mo	$160,000	$83	60
1888 Weston Ave	0.36mi	4/2.0	1,512 (-13%)	4mo	$30,000	$20	59
555 25th St	0.65mi	4/2.0	1,619 (-6%)	7mo	$128,000	$79	53
2260 Weston Ave	0.45mi	3/2.0 (-1)	1,540 (-11%)	3mo	$135,000	$88	53
541 20th St	0.55mi	5/2.0 (+1)	1,917 (+11%)	1mo	$112,000	$58	50
2449 Grand Ave	0.51mi	5/2.0 (+1)	1,918 (+11%)	4mo	$135,000	$70	49
1312 Ontario Ave	0.65mi	3/2.0 (-1)	1,956 (+13%)	5mo	$138,000	$71	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 48.6%
• Equity multiple: 4.75×
• Total profit: $99,694
• Equity at exit: $85,493

10-year hold

• IRR: 44.4%
• Equity multiple: 11.62×
• Total profit: $282,205
• Equity at exit: $184,370

Cash invested: $26,572 (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 14301

• Home prices YoY: 6.2%
• Rents YoY: 8.8%
• Active inventory: 164
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,533 high
• Mortgage (P&I): −$498
• Tax from tax record: −$47 /mo · $559/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $627

Break-even live

Break-even rent $739

Max offer price $94,900

Occupancy floor 54%

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1001 17th St Niagara Falls, NY	3.0	1.0	1152	$1,800	$1.56	23d	1	0.21mi
2020 Forest Ave Niagara Falls, NY	4.0	2.0	1600	$1,500	$0.94	17d	1	0.22mi
784 15th St Niagara Falls, NY	3.0	1.5	1380	$1,350	$0.98	3d	1	0.34mi
1427 Fort Ave Unit 2 Niagara Falls, NY	3.0	1.0	1058	$950	$0.90	43d	1	0.81mi
724 Augustus Pl Niagara Falls, NY	4.0	1.0	1200	$1,500	$1.25	43d	1	0.87mi
420 25th St Niagara Falls, NY	3.0	1.0	1101	$1,500	$1.36	43d	1	0.90mi
642 Ashland Ave Niagara Falls, NY	3.0	1.0	1238	$1,100	$0.89	3d	1	0.91mi
2420 Mackenna Ave Unit 1 Niagara Falls, NY	4.0	1.0	1300	$1,390	$1.07	1d	1	1.14mi
3225 Belden Pl Niagara Falls, NY	5.0	1.5	1344	$1,750	$1.30	1d	1	1.23mi
3025 Macklem Ave Niagara Falls, NY	4.0	1.5	1750	$2,200	$1.26	43d	1	1.41mi

Listing history 13 events

1. 2026-06-18
   days on market $94,900 Active 16 DOM
2. 2026-06-17
   days on market $94,900 Active 15 DOM
3. 2026-06-16
   days on market $94,900 Active 14 DOM
4. 2026-06-15
   price $94,900 Active 13 DOM
5. 2026-06-15
   days on market $104,900 Active 13 DOM
6. 2026-06-13
   days on market $104,900 Active 11 DOM
7. 2026-06-13
   days on market $104,900 Active 10 DOM
8. 2026-06-10
   pricedays on market $104,900 Active 8 DOM
9. 2026-06-09
   days on market $114,900 Active 7 DOM
10. 2026-06-08
    days on market $114,900 Active 6 DOM
11. 2026-06-07
    days on market $114,900 Active 5 DOM
12. 2026-06-02
    remarks 699-char remark

    Show marketing remark (859 chars)

    Endless possibilities await with this versatile Niagara Falls property! Most recently used as a single-family home, this residence can easily be converted back to a two-family home, offering excellent potential for owner-occupants, investors, or multi-generational living. The first floor features a spacious eat-in kitchen, a comfortable one-bedroom layout, and a charming clawfoot tub that adds character and timeless appeal. Upstairs, you'll find two additional bedrooms and ample living space. A full basement provides plenty of storage, while the detached one-car garage and large rear parking area offer space for up to five vehicles. Whether you're looking for a place to call home, an investment opportunity, or both, this property delivers flexibility and value in a convenient Niagara Falls location close to shopping, dining, and local attractions.

13. 2026-06-02
    listed $114,900 Active 1 DOM

    Show marketing remark (859 chars)

    Endless possibilities await with this versatile Niagara Falls property! Most recently used as a single-family home, this residence can easily be converted back to a two-family home, offering excellent potential for owner-occupants, investors, or multi-generational living. The first floor features a spacious eat-in kitchen, a comfortable one-bedroom layout, and a charming clawfoot tub that adds character and timeless appeal. Upstairs, you'll find two additional bedrooms and ample living space. A full basement provides plenty of storage, while the detached one-car garage and large rear parking area offer space for up to five vehicles. Whether you're looking for a place to call home, an investment opportunity, or both, this property delivers flexibility and value in a convenient Niagara Falls location close to shopping, dining, and local attractions.

ⓘ 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: $559 · $47/mo
• Projected year-2 tax: $1,081 · $90/mo
• Expected delta: +$522/yr (+$44/mo · 93.5%)

ⓘ 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 ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,391
• − Mortgage interest: −$5,316
• − Property taxes: −$559
• − Insurance: −$474
• − Repairs & maintenance: −$1,471
• − Management: −$1,471
• − Depreciation: −$2,761
• Taxable income: $6,338
• Est. tax owed @ 24.0%: −$1,521
• After-tax cash flow: $6,002/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: Niagara Falls City School District
• NCES district ID: 3620820
• Math proficiency: 26% ▼ -10.00%
• Reading proficiency: 34% ▲ 3.00%
• Median HH income: $32,488
• Composite: 24.5/100
• National rank: #7655
• State rank: #578 of 590 in NY

Livability — Niagara Falls

• Score: 60/100
• State rank: #956
• US rank: #18749

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D- Housing A+ Health & safety F User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Niagara Falls, NY
• County: Niagara County · 157,377 people
• City population: 62,983
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 10,923
• Household income: $34,549
• Rent vs Own: 54.1% rent · 45.9% own
• Severe rent burden: 954.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 59% Black 25% Two or more races 8% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 6% Slovak 2% Lithuanian 1%
• Foreign-born: 5% · Canada, China, Dominican Republic
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 3% Chinese 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: ▲ 15.41%
• Current HPI: 266.1457
• Rent YoY: ▲ 8.79%
• 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

+618.1% since first listed

3 events — show timeline

• 2026-06-02 Listed $114,900 WNYREIS
• 2026-06-02 Listed $114,900 WNYREIS
• 2000-06-23 Sold (Public Records) $16,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $559 · +19.4% YoY. Source: county tax records.