1812 18th St · Niagara Falls, NY 14305

$159,900

4 bd · 2.0 ba · 1,632 sqft · MultiFamily public records · 60 Days on market

Built 1900 2,820 sqft lot $98/sqft · 71% above area

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Here’s an excellent investment opportunity with a versatile two-unit property in great condition. Whether you’re looking to generate long-term rental income or continue operating it as a short-term rental, this place is fully prepared and rented. All furniture is included. Everything has been taken care of—from new flooring and fresh paint to updated plumbing and lighting—so you don't have to focus on finding tenants and collecting rent. The property also comes with an adjacent lot at 1662 Weston Ave (SBL #: 291100-144-056-0002-045-000), measuring 29 x 89. The annual taxes are for the lot just $78, offering even more value for your investment. Located within the zone

Key facts

• Two unit property
• Fresh paint
• New flooring

Tags

• TWO UNIT PROPERTY
• NEW FLOORING
• FRESH PAINT
• UPDATED PLUMBING
• UPDATED LIGHTING
• ADJACENT LOT

Property features AI

Finance

• Other: Owner pays: other items and see remarks; rent includes: see remarks
• Financial info: Two-unit multifamily property; Unit rents listed: one unit at $1,150 and the other at $1,350; Operating expenses include insurance, licenses, maintenance (structure), snow removal, utilities, and water/sewer; see remarks for details

Exterior

• Parking: Detached or attached 2-car garage; Concrete parking surfaces
• Utilities: Public water connected; Sewer connected; Separate utilities for each unit (separate gas and electric meters)
• Home design: 2-story building; Existing (resale) property; Composite siding
• Construction: Composite siding construction
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approx. 30 x 94

Interior

• Kitchen: Gas water heater
• Bedrooms: Two 2-bedroom units (each unit has 2 bedrooms)
• Flooring: Luxury vinyl; Vinyl; Varied flooring
• Bathrooms: Each unit has 1 full bathroom (2 full bathrooms total)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Luxury vinyl and vinyl flooring; varies by room
• Laundry & utility: Separate gas and electric meters for each unit

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.5% vs local median 7.5% 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: 142 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• At $2,659/mo this rent would consume 63% of the median local household income ($51k/yr) (locally 1095% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 + 3.0% rent growth), your $45k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 8y 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 $45k; list at $160k implies a 255% 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 $155,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.66% ✓
• Cap rate: 14.50%
• Cash-on-cash: 29.31%
• DSCR: 2.30
• GRM: 5.0

CMA / ARV

• ARV (median comp): $93,500
• List price: $159,900
• Delta: 71.02%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1888 Weston Ave	0.19mi	4/2.0	1,512 (-7%)	4mo	$30,000	$20	75
1535 Pierce Ave	0.30mi	4/2.0	1,724 (+6%)	2mo	$35,000	$20	74
1333 North Ave	0.37mi	4/2.0	1,728 (+6%)	2mo	$100,000	$58	71
1361 North Ave	0.33mi	3/2.0 (-1)	1,711 (+5%)	2mo	$76,000	$44	70
2260 Weston Ave	0.32mi	3/2.0 (-1)	1,540 (-6%)	3mo	$135,000	$88	68
2236 Linwood Ave	0.29mi	3/2.0 (-1)	1,544 (-5%)	8mo	$163,000	$106	65
1970 Whitney Ave	0.37mi	3/2.0 (-1)	1,562 (-4%)	8mo	$122,000	$78	64
1840 Jerauld Ave	0.37mi	4/2.0	1,518 (-7%)	10mo	$80,500	$53	62
746 17th St	0.63mi	4/2.0	1,475 (-10%)	1mo	$72,000	$49	54
1119 15th St	0.44mi	4/2.0	1,496 (-8%)	15mo	$128,000	$86	53
1519 Whitney Ave	0.38mi	3/2.0 (-1)	1,408 (-14%)	12mo	$110,000	$78	45
2254 Grand Ave	0.70mi	5/2.0 (+1)	1,748 (+7%)	8mo	$149,000	$85	44

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.7%
• Equity multiple: 1.98×
• Total profit: $43,719
• Equity at exit: $23,842

10-year hold

• IRR: 31.6%
• Equity multiple: 3.85×
• Total profit: $127,673
• Equity at exit: $13,825

Cash invested: $44,772 (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 14305

• Home prices YoY: -10.9%
• Active inventory: 142
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,659 high
• Mortgage (P&I): −$839
• Tax from tax record: −$102 /mo · $1,223/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$558
• Net cashflow: $1,094

Break-even live

Break-even rent $1,275

Max offer price $159,900

Occupancy floor 54%

Sensitivity live

Price	-10% $1,184	-5% $1,139	+0% $1,094	+5% $1,048	+10% $1,003
Rent	-10% $883	-5% $989	+0% $1,094	+5% $1,199	+10% $1,304
Rate	-1.0pp $1,174	-0.5pp $1,134	base $1,094	+0.5pp $1,052	+1.0pp $1,010

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,660
Total (2 units)			$2,659

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: $39,975
• Closing costs: $4,797
• 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	25d	1	0.46mi
2020 Forest Ave Niagara Falls, NY	4.0	2.0	1600	$1,500	$0.94	18d	1	0.50mi
784 15th St Niagara Falls, NY	3.0	1.5	1380	$1,350	$0.98	4d	1	0.54mi
642 Ashland Ave Niagara Falls, NY	3.0	1.0	1238	$1,100	$0.89	4d	1	0.94mi
724 Augustus Pl Niagara Falls, NY	4.0	1.0	1200	$1,500	$1.25	45d	1	1.01mi
1427 Fort Ave Unit 2 Niagara Falls, NY	3.0	1.0	1058	$950	$0.90	45d	1	1.07mi
3025 Macklem Ave Niagara Falls, NY	4.0	1.5	1750	$2,200	$1.26	45d	1	1.14mi
420 25th St Niagara Falls, NY	3.0	1.0	1101	$1,500	$1.36	45d	1	1.18mi
2420 Mackenna Ave Unit 1 Niagara Falls, NY	4.0	1.0	1300	$1,390	$1.07	3d	1	1.42mi
3225 Belden Pl Niagara Falls, NY	5.0	1.5	1344	$1,750	$1.30	3d	1	1.46mi

Listing history 47 events

1. 2026-06-21
   days on market $159,900 Active 60 DOM
2. 2026-06-18
   days on market $159,900 Active 57 DOM
3. 2026-06-17
   days on market $159,900 Active 56 DOM
4. 2026-06-16
   days on market $159,900 Active 55 DOM
5. 2026-06-15
   days on market $159,900 Active 54 DOM
6. 2026-06-13
   days on market $159,900 Active 52 DOM
7. 2026-06-13
   days on market $159,900 Active 51 DOM
8. 2026-06-10
   days on market $159,900 Active 49 DOM
9. 2026-06-09
   days on market $159,900 Active 48 DOM
10. 2026-06-08
    days on market $159,900 Active 47 DOM
11. 2026-06-07
    days on market $159,900 Active 46 DOM
12. 2026-06-03
    days on market $159,900 Active 42 DOM
13. 2026-06-02
    days on market $159,900 Active 41 DOM
14. 2026-06-01
    days on market $159,900 Active 40 DOM
15. 2026-05-31
    days on market $159,900 Active 39 DOM
16. 2026-04-21
    listed $159,900 Active 783-char remark
17. 2025-09-10
    historical
18. 2025-09-06
    price $149,800
19. 2025-07-15
    price $159,800
20. 2025-06-10
    listed $163,800 Active
21. 2024-07-29
    listed $99,900 Active
22. 2024-07-27
    historical
23. 2024-07-07
    listed $160,000 Active
24. 2024-06-26
    historical
25. 2024-05-20
    status Active
26. 2024-05-20
    status Pending
27. 2024-05-13
    status Active
28. 2024-05-08
    historical Active Under Contract
29. 2024-05-08
    status Pending
30. 2024-04-20
    listed $160,000 Active
31. 2023-03-02
    historical
32. 2022-08-16
    price $139,000
33. 2022-08-16
    status Active
34. 2022-08-14
    historical
35. 2022-08-04
    listed $149,900 Active
36. 2022-06-17
    soldstatus $45,000 Closed Sale or Rented
37. 2021-11-17
    status Under Contract- Do Not Show
38. 2021-11-17
    listed $45,000 Active
39. 2020-12-23
    soldstatus $30,716 Closed Sale or Rented
40. 2020-09-16
    status Pending Sale
41. 2020-08-11
    status Active
42. 2020-07-30
    status Pending Sale
43. 2020-07-22
    status Active
44. 2020-07-08
    status Under Contract- Do Not Show
45. 2019-10-01
    listed $39,900 Active
46. 2019-07-07
    historical
47. 2018-12-07
    listed $40,000 Active

ⓘ 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: $1,223 · $102/mo
• Projected year-2 tax: $1,963 · $164/mo
• Expected delta: +$740/yr (+$62/mo · 60.5%)

ⓘ 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: $31,908
• − Mortgage interest: −$8,957
• − Property taxes: −$1,223
• − Insurance: −$800
• − Repairs & maintenance: −$2,553
• − Management: −$2,553
• − Depreciation: −$4,652
• Taxable income: $11,172
• Est. tax owed @ 24.0%: −$2,681
• After-tax cash flow: $10,441/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): 16,696
• Household income: $51,004
• Rent vs Own: 38.4% rent · 61.6% own
• Severe rent burden: 1095.0

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 0.63)
• Race & ethnicity: White 55% Black 24% Two or more races 13% Hispanic / Latino 8% Asian 1% Native American 1%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 6% Slovak 2% Lithuanian 2%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 4% 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: ▼ -43.08%
• Current HPI: 350.8741
• Rent YoY: —
• 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

+299.8% since first listed

32 events — show timeline

• 2026-04-21 Listed $159,900 WNYREIS
• 2025-09-10 Listing Removed — WNYREIS
• 2025-09-06 Price Changed $149,800 WNYREIS
• 2025-07-15 Price Changed $159,800 WNYREIS
• 2025-06-10 Listed $163,800 WNYREIS
• 2024-07-29 Listed $99,900 WNYREIS
• 2024-07-27 Listing Removed — WNYREIS
• 2024-07-07 Listed $160,000 WNYREIS
• 2024-06-26 Listing Removed — WNYREIS
• 2024-05-20 Relisted — WNYREIS
• 2024-05-20 Pending — WNYREIS
• 2024-05-13 Relisted — WNYREIS
• 2024-05-08 Contingent — WNYREIS
• 2024-05-08 Pending — WNYREIS
• 2024-04-20 Listed $160,000 WNYREIS
• 2023-03-02 Listing Removed — WNYREIS
• 2022-08-16 Price Changed $139,000 WNYREIS
• 2022-08-16 Relisted — WNYREIS
• 2022-08-14 Listing Removed — WNYREIS
• 2022-08-04 Listed $149,900 WNYREIS
• 2022-06-17 Sold (MLS) $45,000 WNYREIS
• 2021-11-17 Pending — WNYREIS
• 2021-11-17 Listed $45,000 WNYREIS
• 2020-12-23 Sold (MLS) $30,716 WNYREIS
• 2020-09-16 Pending — WNYREIS
• 2020-08-11 Relisted — WNYREIS
• 2020-07-30 Pending — WNYREIS
• 2020-07-22 Relisted — WNYREIS
• 2020-07-08 Pending — WNYREIS
• 2019-10-01 Listed $39,900 WNYREIS
• 2019-07-07 Listing Removed — WNYREIS
• 2018-12-07 Listed $40,000 WNYREIS

Property tax history

+5.8%/yr

Latest (2025): $1,223 · -12.5% YoY. Source: county tax records.