1101 South Ave · Niagara Falls, NY 14305

$109,000

5 bd · 2.0 ba · 2,094 sqft · MultiFamily public records · 23 Days on market

Built 1900 6,038 sqft lot Est $142k · 23% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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: 2 units. confirmed

Listing remarks MLS

This Two family home is perfect for investment purposes as well as side by side living for friends and family.

Key facts

• Airbnb zone
• Separate utilities
• Large corner lot

Tags

• AIRBNB ZONE
• SEPARATE UTILITIES
• LARGE CORNER LOT
• EXCELLENT ACCESS

Property features AI

Finance

• Financial info: Property is a 2-unit building with separate gas and electric meters for each unit; Unit rents shown: one unit at $600/month, the other at $800/month; Operating expense notes: see remarks

Exterior

• Parking: Detached 1-car garage; Concrete parking surface
• Utilities: Public water connected; Sewer connected
• Home design: 2-story multi-unit property; Resale condition
• Construction: Aluminum and vinyl siding; Asphalt roof; Existing construction
• Exterior features: Deck; Enclosed porch; Porch; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas water heater (appliance listed)
• Bedrooms: Each unit has 2 bedrooms
• Flooring: Hardwood; Varied flooring
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Partial basement; Hardwood and varied flooring
• Laundry & utility: Owner pays hot water (hot water included in rent)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $109k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $628/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $109k).
• Recommended offer: $107k (1.5% below list) — sets the bar for market timing.
• Cap rate 20.1% 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: 142 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• At $2,511/mo this rent would consume 59% 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 $754 of loan paydown is wiped out by about $3k 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 $31k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 2 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 $35k; list at $109k implies a 211% 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 $107,365 (1.5% below list)

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 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?
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: 2.30% ✓
• Cap rate: 20.12%
• Cash-on-cash: 49.39%
• DSCR: 3.20
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $142,392
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
814 Willow Ave	0.31mi	5/2.0	2,072 (-1%)	2mo	$140,000	$68	82
1635 South Ave	0.38mi	5/2.0	2,208 (+5%)	2mo	$85,000	$38	71
1623 Linwood Ave	0.39mi	4/2.0 (-1)	1,994 (-5%)	3mo	$100,000	$50	67
1145 Willow Ave	0.22mi	6/2.0 (+1)	2,304 (+10%)	3mo	$53,300	$23	66
1867 Michigan Ave	0.60mi	4/2.0 (-1)	2,100 (+0%)	2mo	$87,000	$41	65
1552 North Ave	0.48mi	4/2.0 (-1)	2,016 (-4%)	6mo	$155,000	$77	61
1811 Weston Ave	0.48mi	5/3.0	1,998 (-5%)	6mo	$140,000	$70	60
2208 Weston Ave	0.66mi	4/2.0 (-1)	2,016 (-4%)	1mo	$55,000	$27	58
609 Elmwood Ave	0.64mi	4/2.0 (-1)	2,221 (+6%)	0mo	$190,800	$86	55
2133 North Ave	0.70mi	6/2.0 (+1)	2,048 (-2%)	9mo	$170,000	$83	51
423 Elmwood Ave	0.69mi	4/2.0 (-1)	2,232 (+7%)	3mo	$117,000	$52	49
1023 15th St	0.51mi	5/4.0	2,304 (+10%)	5mo	$190,000	$82	47

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: 47.0%
• Equity multiple: 3.04×
• Total profit: $62,360
• Equity at exit: $16,252

10-year hold

• IRR: 52.7%
• Equity multiple: 6.16×
• Total profit: $157,406
• Equity at exit: $9,424

Cash invested: $30,520 (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: 7.2×

Monthly cashflow live

• Estimated rent: $2,511 high
• Mortgage (P&I): −$572
• Tax from tax record: −$111 /mo · $1,327/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$527
• Net cashflow: $1,256

Break-even live

Break-even rent $921

Max offer price $109,000

Occupancy floor 45%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,512
Total (2 units)			$2,511

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2020 Forest Ave Niagara Falls, NY	4.0	2.0	1600	$1,500	$0.94	17d	1	0.77mi
3025 Macklem Ave Niagara Falls, NY	4.0	1.5	1750	$2,200	$1.26	43d	1	0.97mi

Listing history 21 events

1. 2026-06-18
   days on market $109,000 Active 23 DOM
2. 2026-06-17
   days on market $109,000 Active 22 DOM
3. 2026-06-16
   days on market $109,000 Active 21 DOM
4. 2026-06-15
   days on market $109,000 Active 20 DOM
5. 2026-06-13
   days on market $109,000 Active 18 DOM
6. 2026-06-13
   days on market $109,000 Active 17 DOM
7. 2026-06-10
   days on market $109,000 Active 15 DOM
8. 2026-06-09
   days on market $109,000 Active 14 DOM
9. 2026-06-08
   days on market $109,000 Active 13 DOM
10. 2026-06-07
    days on market $109,000 Active 12 DOM
11. 2026-06-03
    days on market $109,000 Active 8 DOM
12. 2026-06-02
    days on market $109,000 Active 7 DOM
13. 2026-06-01
    days on market $109,000 Active 6 DOM
14. 2026-05-31
    days on market $109,000 Active 5 DOM
15. 2026-05-26
    listed $109,000 Active
16. 2019-09-13
    soldstatus $35,000 Closed Sale or Rented 110-char remark

    Show marketing remark (110 chars)

    This Two family home is perfect for investment purposes as well as side by side living for friends and family.

17. 2019-09-13
    soldstatus $35,000

    Show marketing remark (110 chars)

    This Two family home is perfect for investment purposes as well as side by side living for friends and family.

18. 2019-07-05
    status Under Contract- Do Not Show 110-char remark

    Show marketing remark (110 chars)

    This Two family home is perfect for investment purposes as well as side by side living for friends and family.

19. 2019-03-12
    price $45,000 110-char remark

    Show marketing remark (110 chars)

    This Two family home is perfect for investment purposes as well as side by side living for friends and family.

20. 2018-12-01
    listed $50,000 Active 110-char remark

    Show marketing remark (110 chars)

    This Two family home is perfect for investment purposes as well as side by side living for friends and family.

21. 2008-03-18
    soldstatus $15,000

ⓘ 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: $1,327 · $111/mo
• Projected year-2 tax: $1,585 · $132/mo
• Expected delta: +$258/yr (+$21/mo · 19.4%)

ⓘ 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 2/10 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: $30,132
• − Mortgage interest: −$6,106
• − Property taxes: −$1,327
• − Insurance: −$545
• − Repairs & maintenance: −$2,411
• − Management: −$2,411
• − Depreciation: −$3,171
• Taxable income: $14,162
• Est. tax owed @ 24.0%: −$3,399
• After-tax cash flow: $11,674/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

+626.7% since first listed

7 events — show timeline

• 2026-05-26 Listed $109,000 WNYREIS
• 2019-09-13 Sold (Public Records) $35,000 Public Records
• 2019-09-13 Sold (MLS) $35,000 WNYREIS
• 2019-07-05 Pending — WNYREIS
• 2019-03-12 Price Changed $45,000 WNYREIS
• 2018-12-01 Listed $50,000 WNYREIS
• 2008-03-18 Sold (Public Records) $15,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $1,327 · +19.3% YoY. Source: county tax records.