490 19th St · Niagara Falls, NY 14303

$99,000

3 bd · 3.0 ba · 2,340 sqft · MultiFamily public records · 103 Days on market

Built 1920 1,506 sqft lot $42/sqft · 44% below area Est $178k · 44% under

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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
• 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 +2.3/10.0

Multi-family units

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

Listing remarks MLS

Welcome to 490 19th St, Niagara Falls, NY 14303, a great investment opportunity with multiple units and strong rental potential. The front unit on the first floor features a convertible storefront space, offering flexibility for commercial or residential use. The rear unit on the first floor includes a 1-bedroom, 1-bathroom apartment in good condition. The second floor unit offers 3 bedrooms, 1 full bathroom, a spacious living room, and a large kitchen. This unit may require some renovation, providing an opportunity to add value. The property also includes a full basement and has strong potential for rental income or mixed-use investment. A great opportunity for investors or buyers looking to generate income.

Key facts

• Full basement
• Mixed use investment
• 1,506 sq ft lot

Tags

• 1 BEDROOM 1 BATHROOM APARTMENT
• FULL BASEMENT
• STRONG RENTAL POTENTIAL
• MIXED USE INVESTMENT

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath multifamily listed at $99k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $99k).
• Recommended offer: $90k (9.0% below list) — sets the bar for market timing.
• Cap rate 28.9% 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: 74 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• At $3,478/mo this rent would consume 91% of the median local household income ($46k/yr) (locally 230% 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 $684 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 $28k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 8y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $90,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 3.51% ✓
• Cap rate: 28.88%
• Cash-on-cash: 80.67%
• DSCR: 4.59
• GRM: 2.4

CMA / ARV

• ARV (median comp): $177,781
• List price: $99,000
• Delta: -44.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1745 Cudaback Ave	0.37mi	3/2.0	2,358 (+1%)	1mo	$73,000	$31	76
2419 Orleans Ave	0.36mi	4/3.0 (+1)	2,160 (-8%)	19mo	$162,500	$75	50
1606 Ferry Ave	0.17mi	4/2.0 (+1)	2,687 (+15%)	11mo	$110,000	$41	49
519 Tronolone Pl	0.30mi	4/3.0 (+1)	2,000 (-14%)	11mo	$142,500	$71	48
609 24th St	0.36mi	4/2.0 (+1)	2,000 (-14%)	4mo	$140,000	$70	46
2455 La Salle Ave	0.71mi	4/2.0 (+1)	2,152 (-8%)	3mo	$112,000	$52	42
2409 La Salle Ave	0.66mi	4/2.0 (+1)	2,154 (-8%)	6mo	$185,000	$86	42
2734 Forest Ave	0.75mi	4/2.0 (+1)	2,208 (-6%)	7mo	$160,000	$72	41
2219 Cudaback Ave	0.43mi	4/2.0 (+1)	2,000 (-14%)	8mo	$80,000	$40	40
424 13th St	0.39mi	3/2.0	2,043 (-13%)	21mo	$22,000	$11	39

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: 80.9%
• Equity multiple: 4.71×
• Total profit: $102,818
• Equity at exit: $14,761

10-year hold

• IRR: 84.3%
• Equity multiple: 9.77×
• Total profit: $243,070
• Equity at exit: $8,560

Cash invested: $27,720 (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 14303

• Home prices YoY: -1.7%
• Active inventory: 74
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $3,478 high
• Mortgage (P&I): −$519
• Tax from tax record: −$324 /mo · $3,885/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$730
• Net cashflow: $1,863

Break-even live

Break-even rent $1,119

Max offer price $99,000

Occupancy floor 41%

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$1,118
1× unit	3	1	$1,251
1× unit	0	0	$1,109
Total (3 units)			$3,478

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1935 Niagara St Unit Upper Niagara Falls, NY	3.0	1.0	2685	$1,200	$0.45	14d	1	0.20mi
2020 Forest Ave Niagara Falls, NY	4.0	2.0	1600	$1,500	$0.94	17d	1	0.51mi
1312 Ontario Ave Niagara Falls, NY	2.0	1.0	1956	$1,200	$0.61	43d	1	1.28mi

Listing history 42 events

1. 2026-06-18
   days on market $99,000 Active 103 DOM
2. 2026-06-17
   days on market $99,000 Active 102 DOM
3. 2026-06-16
   days on market $99,000 Active 101 DOM
4. 2026-06-15
   days on market $99,000 Active 100 DOM
5. 2026-06-13
   days on market $99,000 Active 98 DOM
6. 2026-06-13
   pricedays on market $99,000 Active 97 DOM
7. 2026-06-10
   days on market $109,000 Active 95 DOM
8. 2026-06-09
   days on market $109,000 Active 94 DOM
9. 2026-06-08
   days on market $109,000 Active 93 DOM
10. 2026-06-07
    days on market $109,000 Active 92 DOM
11. 2026-06-03
    days on market $109,000 Active 88 DOM
12. 2026-06-02
    days on market $109,000 Active 87 DOM
13. 2026-06-01
    days on market $109,000 Active 86 DOM
14. 2026-05-31
    days on market $109,000 Active 85 DOM
15. 2026-03-07
    listed $109,000 Active 718-char remark

    Show marketing remark (718 chars)

    Welcome to 490 19th St, Niagara Falls, NY 14303, a great investment opportunity with multiple units and strong rental potential. The front unit on the first floor features a convertible storefront space, offering flexibility for commercial or residential use. The rear unit on the first floor includes a 1-bedroom, 1-bathroom apartment in good condition. The second floor unit offers 3 bedrooms, 1 full bathroom, a spacious living room, and a large kitchen. This unit may require some renovation, providing an opportunity to add value. The property also includes a full basement and has strong potential for rental income or mixed-use investment. A great opportunity for investors or buyers looking to generate income.

16. 2023-02-02
    soldstatus $70,000
17. 2023-01-30
    soldstatus $70,000 Closed Sale or Rented 138-char remark

    Show marketing remark (138 chars)

    Looking for a high, steady rental property? This vacant, 3 unit Niagara Falls property is sure to add impressive profit to your portfolio.

18. 2022-12-06
    status Pending Sale 138-char remark

    Show marketing remark (138 chars)

    Looking for a high, steady rental property? This vacant, 3 unit Niagara Falls property is sure to add impressive profit to your portfolio.

19. 2022-11-14
    status Under Contract- Do Not Show 138-char remark

    Show marketing remark (138 chars)

    Looking for a high, steady rental property? This vacant, 3 unit Niagara Falls property is sure to add impressive profit to your portfolio.

20. 2022-11-09
    price $79,900 138-char remark

    Show marketing remark (138 chars)

    Looking for a high, steady rental property? This vacant, 3 unit Niagara Falls property is sure to add impressive profit to your portfolio.

21. 2022-08-16
    price $81,900 138-char remark

    Show marketing remark (138 chars)

    Looking for a high, steady rental property? This vacant, 3 unit Niagara Falls property is sure to add impressive profit to your portfolio.

22. 2022-06-13
    listed $89,900 Active 138-char remark

    Show marketing remark (138 chars)

    Looking for a high, steady rental property? This vacant, 3 unit Niagara Falls property is sure to add impressive profit to your portfolio.

23. 2020-05-01
    historical
24. 2020-02-10
    status Active
25. 2020-01-25
    status Under Contract- Do Not Show
26. 2020-01-23
    historical
27. 2020-01-21
    price $35,000
28. 2019-11-27
    status Active
29. 2019-11-07
    historical
30. 2019-11-01
    listed $45,000 Active
31. 2019-05-09
    soldstatus $27,000 Closed Sale or Rented
32. 2019-05-08
    soldstatus $26,000
33. 2019-04-15
    status Pending Sale
34. 2019-03-27
    status Under Contract- Do Not Show
35. 2019-03-08
    listed $34,900 Active
36. 2018-12-14
    soldstatus $20,000 Closed Sale or Rented
37. 2018-10-14
    price $29,900
38. 2018-08-30
    status Active
39. 2018-07-24
    status Pending Sale
40. 2018-07-18
    status Under Contract- Do Not Show
41. 2018-07-13
    listed $34,900 Active
42. 2015-10-30
    soldstatus $79,000

ⓘ 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: $3,885 · $324/mo
• Projected year-2 tax: $3,885 · $324/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 ≥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: $41,736
• − Mortgage interest: −$5,546
• − Property taxes: −$3,885
• − Insurance: −$495
• − Repairs & maintenance: −$3,339
• − Management: −$3,339
• − Depreciation: −$2,880
• Taxable income: $22,253
• Est. tax owed @ 24.0%: −$5,341
• After-tax cash flow: $17,021/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): 6,156
• Household income: $45,646
• Rent vs Own: 55.7% rent · 44.3% own
• Severe rent burden: 230.0

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 0.68)
• Race & ethnicity: White 53% Two or more races 18% Hispanic / Latino 15% Black 12% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 6%
• Common ancestry: Romanian 12% Lithuanian 2% Iranian 1%
• Foreign-born: 3%
• Languages at home: 93% English-only · Other Indo-European 3% Spanish 3% Russian/Polish/Slavic 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: ▼ -5.37%
• Current HPI: 311.8094
• 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

+38.0% since first listed

28 events — show timeline

• 2026-03-07 Listed $109,000 WNYREIS
• 2023-02-02 Sold (Public Records) $70,000 Public Records
• 2023-01-30 Sold (MLS) $70,000 WNYREIS
• 2022-12-06 Pending — WNYREIS
• 2022-11-14 Pending — WNYREIS
• 2022-11-09 Price Changed $79,900 WNYREIS
• 2022-08-16 Price Changed $81,900 WNYREIS
• 2022-06-13 Listed $89,900 WNYREIS
• 2020-05-01 Listing Removed — WNYREIS
• 2020-02-10 Relisted — WNYREIS
• 2020-01-25 Pending — WNYREIS
• 2020-01-23 Listing Removed — WNYREIS
• 2020-01-21 Price Changed $35,000 WNYREIS
• 2019-11-27 Relisted — WNYREIS
• 2019-11-07 Listing Removed — WNYREIS
• 2019-11-01 Listed $45,000 WNYREIS
• 2019-05-09 Sold (MLS) $27,000 WNYREIS
• 2019-05-08 Sold (Public Records) $26,000 Public Records
• 2019-04-15 Pending — WNYREIS
• 2019-03-27 Pending — WNYREIS
• 2019-03-08 Listed $34,900 WNYREIS
• 2018-12-14 Sold (MLS) $20,000 WNYREIS
• 2018-10-14 Price Changed $29,900 WNYREIS
• 2018-08-30 Relisted — WNYREIS
• 2018-07-24 Pending — WNYREIS
• 2018-07-18 Pending — WNYREIS
• 2018-07-13 Listed $34,900 WNYREIS
• 2015-10-30 Sold (Public Records) $79,000 Public Records

Property tax history

+6.9%/yr

Latest (2025): $3,885 · -66.6% YoY. Source: county tax records.