3301 Wallace Dr · Niagara Falls, NY 14072

$229,900

3 bd · 1.5 ba · 1,008 sqft · SingleFamily public records · 9 Days on market

Built 1958 6,750 sqft lot Est $207k · 11% over

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Why this score? — see what drove the D 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 +17.4/30.0
• DSCR +5.4/10.0
• 1% rule +5.1/10.0
• Schools +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Adorable Ranch located close to Sandy Beach, beach and boating privileges for a yearly fee. The kitchen has updated cabinets with Corian countertops along with all brand new appliances in 2015. Three bedrooms with one full bath. The electric service is 150 amps. Furnace and A/C 2017, HWT 2015, new fence 2015, & some updated windows. This home has blown-in insulation, a lovely front porch, & basement has been completely waterproofed. Not many homes on the island with all of this AND priced to sell!

Key facts

• Covered front porch
• Corian countertops
• Finished basement

Tags

• COVERED FRONT PORCH
• REFINISHED HARDWOOD FLOORS
• CORIAN COUNTERTOPS
• MOVABLE ISLAND
• TILED SHOWER
• FINISHED BASEMENT

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $172 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $230k).

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.
• Grand Island Central School District (suburban): math 54% / reading 57% proficiency, ranked #263 of 590 in NY (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 129 active listings in the ZIP; high-income renter base; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 16y 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 $130k; list at $230k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $229,900

Questions for the listing agent

1. Built in 1958 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.01% ✓
• Cap rate: 7.19%
• Cash-on-cash: 3.21%
• DSCR: 1.14
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $206,640
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3314 Warner Dr	0.04mi	4/1.5 (+1)	1,080 (+7%)	6mo	$222,000	$206	76
3391 Sandy Beach Rd	0.19mi	4/1.0 (+1)	1,008 (0%)	11mo	$250,000	$248	75
3415 Wallace Dr	0.22mi	3/1.0	966 (-4%)	10mo	$235,000	$243	72
1825 Huth Rd	0.05mi	3/1.0	1,114 (+10%)	13mo	$244,000	$219	67
3380 Wallace Dr	0.16mi	2/1.0 (-1)	939 (-7%)	8mo	$154,777	$165	67
3535 Warner Dr	0.45mi	2/1.0 (-1)	1,040 (+3%)	1mo	$210,000	$202	65
1927 Huth Rd	0.17mi	2/1.0 (-1)	1,040 (+3%)	18mo	$161,500	$155	64
3331 Wallace Dr	0.06mi	4/1.0 (+1)	1,111 (+10%)	12mo	$216,000	$194	63
3360 Greenway Rd	0.20mi	3/2.0	1,116 (+11%)	13mo	$94,000	$84	60
3535 Wallace Dr	0.45mi	3/1.0	1,107 (+10%)	5mo	$205,275	$185	57
3555 Wallace Dr	0.48mi	3/1.5	1,120 (+11%)	9mo	$230,000	$205	52
3426 Greenway Rd	0.29mi	3/1.0	1,144 (+14%)	17mo	$250,000	$219	48

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: -11.2%
• Equity multiple: 0.59×
• Total profit: $-26,203
• Equity at exit: $34,279

10-year hold

• IRR: -1.9%
• Equity multiple: 0.87×
• Total profit: $-8,374
• Equity at exit: $19,878

Cash invested: $64,372 (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 14072

• Active inventory: 129
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,316 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$356 /mo · $4,270/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$486
• Net cashflow: $172

Break-even live

Break-even rent $2,098

Max offer price $229,900

Occupancy floor 88%

Sensitivity live

Price	-10% $302	-5% $237	+0% $172	+5% $107	+10% $42
Rent	-10% $-11	-5% $81	+0% $172	+5% $264	+10% $355
Rate	-1.0pp $288	-0.5pp $231	base $172	+0.5pp $113	+1.0pp $52

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2025-12-17
   status Pending
2. 2025-12-08
   listed $229,900 Active
3. 2018-12-05
   soldstatus $130,000 Closed Sale or Rented 513-char remark

   Show marketing remark (513 chars)

   Adorable Ranch located close to Sandy Beach, beach and boating privileges for a yearly fee. The kitchen has updated cabinets with Corian countertops along with all brand new appliances in 2015. Three bedrooms with one full bath. The electric service is 150 amps. Furnace and A/C 2017, HWT 2015, new fence 2015, & some updated windows. This home has blown-in insulation, a lovely front porch, & basement has been completely waterproofed. Not many homes on the island with all of this AND priced to sell!

4. 2018-12-05
   soldstatus $130,000

   Show marketing remark (513 chars)

   Adorable Ranch located close to Sandy Beach, beach and boating privileges for a yearly fee. The kitchen has updated cabinets with Corian countertops along with all brand new appliances in 2015. Three bedrooms with one full bath. The electric service is 150 amps. Furnace and A/C 2017, HWT 2015, new fence 2015, & some updated windows. This home has blown-in insulation, a lovely front porch, & basement has been completely waterproofed. Not many homes on the island with all of this AND priced to sell!

5. 2018-11-21
   status Pending Sale 513-char remark

   Show marketing remark (513 chars)

   Adorable Ranch located close to Sandy Beach, beach and boating privileges for a yearly fee. The kitchen has updated cabinets with Corian countertops along with all brand new appliances in 2015. Three bedrooms with one full bath. The electric service is 150 amps. Furnace and A/C 2017, HWT 2015, new fence 2015, & some updated windows. This home has blown-in insulation, a lovely front porch, & basement has been completely waterproofed. Not many homes on the island with all of this AND priced to sell!

6. 2018-10-15
   status Under Contract- Do Not Show 513-char remark

   Show marketing remark (513 chars)

   Adorable Ranch located close to Sandy Beach, beach and boating privileges for a yearly fee. The kitchen has updated cabinets with Corian countertops along with all brand new appliances in 2015. Three bedrooms with one full bath. The electric service is 150 amps. Furnace and A/C 2017, HWT 2015, new fence 2015, & some updated windows. This home has blown-in insulation, a lovely front porch, & basement has been completely waterproofed. Not many homes on the island with all of this AND priced to sell!

7. 2018-10-01
   listed $129,900 Active 513-char remark

   Show marketing remark (513 chars)

   Adorable Ranch located close to Sandy Beach, beach and boating privileges for a yearly fee. The kitchen has updated cabinets with Corian countertops along with all brand new appliances in 2015. Three bedrooms with one full bath. The electric service is 150 amps. Furnace and A/C 2017, HWT 2015, new fence 2015, & some updated windows. This home has blown-in insulation, a lovely front porch, & basement has been completely waterproofed. Not many homes on the island with all of this AND priced to sell!

8. 2015-08-03
   soldstatus $131,000 Closed Sale or Rented 458-char remark

   Show marketing remark (458 chars)

   Absolutely beautiful! Kitchen w/ hrdwd flring, updated cabinets, corian counters, bltin dishwasher & microwave. LR w/ hrwd flring & gas stove. Ceramic flring in rear hallway. 150 amp electric. Bath w/ ceramic tub surround & flring. Deck, patio & shed in lovely yard. Updates: Ext side drs '15, Blown-in insulation '13, Bath, patio & deck '12, Roof, siding & HWT '02. Beach & boating privileges available. A must see!

9. 2015-08-03
   soldstatus $131,000

   Show marketing remark (458 chars)

   Absolutely beautiful! Kitchen w/ hrdwd flring, updated cabinets, corian counters, bltin dishwasher & microwave. LR w/ hrwd flring & gas stove. Ceramic flring in rear hallway. 150 amp electric. Bath w/ ceramic tub surround & flring. Deck, patio & shed in lovely yard. Updates: Ext side drs '15, Blown-in insulation '13, Bath, patio & deck '12, Roof, siding & HWT '02. Beach & boating privileges available. A must see!

10. 2015-06-05
    status Pending Sale 458-char remark

    Show marketing remark (458 chars)

    Absolutely beautiful! Kitchen w/ hrdwd flring, updated cabinets, corian counters, bltin dishwasher & microwave. LR w/ hrwd flring & gas stove. Ceramic flring in rear hallway. 150 amp electric. Bath w/ ceramic tub surround & flring. Deck, patio & shed in lovely yard. Updates: Ext side drs '15, Blown-in insulation '13, Bath, patio & deck '12, Roof, siding & HWT '02. Beach & boating privileges available. A must see!

11. 2015-05-18
    listed $129,900 Active 458-char remark

    Show marketing remark (458 chars)

    Absolutely beautiful! Kitchen w/ hrdwd flring, updated cabinets, corian counters, bltin dishwasher & microwave. LR w/ hrwd flring & gas stove. Ceramic flring in rear hallway. 150 amp electric. Bath w/ ceramic tub surround & flring. Deck, patio & shed in lovely yard. Updates: Ext side drs '15, Blown-in insulation '13, Bath, patio & deck '12, Roof, siding & HWT '02. Beach & boating privileges available. A must see!

12. 2010-04-21
    soldstatus $122,000
13. 2010-04-16
    soldstatus $122,000
14. 2010-02-05
    listed $122,900
15. 2007-09-11
    soldstatus $111,500
16. 2005-12-15
    soldstatus $103,250
17. 2004-12-27
    soldstatus $96,000
18. 2000-06-29
    soldstatus $65,000
19. 1997-03-26
    soldstatus $69,500

ⓘ 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: $4,270 · $356/mo
• Projected year-2 tax: $4,270 · $356/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 3/10 Moderate
• 🌡 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: $27,791
• − Mortgage interest: −$12,878
• − Property taxes: −$4,270
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,223
• − Management: −$2,223
• − Depreciation: −$6,688
• Taxable loss: −$1,641
• Est. tax savings @ 24.0%: +$394
• After-tax cash flow: $2,462/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: Grand Island Central School District
• NCES district ID: 3607020
• Math proficiency: 54% ▼ -15.00%
• Reading proficiency: 57% ▼ -1.00%
• Median HH income: $77,014
• Composite: 49.92/100
• National rank: #1938
• State rank: #263 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

• County: Erie County · 714,559 people
• City population: 62,983
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 21,488
• Household income: $115,991
• Rent vs Own: 18.4% rent · 81.6% own
• Severe rent burden: 283.0

Population outlook (Erie County) Hauer SSP2

• Today (2025): 933,037 people
• By 2030: 935,181 · +0.2%
• By 2040: 928,531 · -0.5%
• By 2050: 905,725 · -2.9%
• By 2075: 834,037 · -10.6%
• By 2100: 708,033 · -24.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Hispanic / Latino 3% Black 2% Asian 2%
• Common ancestry: Romanian 16% Lithuanian 3% Slovak 3%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 2% Arabic 1%

Political lean MEDSL · Erie

• 2024 margin: Lean D (+9.7) · D 54.8% · R 45.2%
• 2008→2024 swing: -7.9pp toward R · 2008: 17.5pp · 2024: 9.7pp
• All cycles: 2024: D+9.7 2020: D+14.7 2016: D+4.8 2012: D+15.6 2008: D+17.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -218.87%
• Current HPI: 332.5322
• 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

+230.8% since first listed

19 events — show timeline

• 2025-12-17 Pending — WNYREIS
• 2025-12-08 Listed $229,900 WNYREIS
• 2018-12-05 Sold (Public Records) $130,000 Public Records
• 2018-12-05 Sold (MLS) $130,000 WNYREIS
• 2018-11-21 Pending — WNYREIS
• 2018-10-15 Pending — WNYREIS
• 2018-10-01 Listed $129,900 WNYREIS
• 2015-08-03 Sold (Public Records) $131,000 Public Records
• 2015-08-03 Sold (MLS) $131,000 WNYREIS
• 2015-06-05 Pending — WNYREIS
• 2015-05-18 Listed $129,900 WNYREIS
• 2010-04-21 Sold (Public Records) $122,000 Public Records
• 2010-04-16 Sold (MLS) $122,000 WNYREIS
• 2010-02-05 Listed $122,900 WNYREIS
• 2007-09-11 Sold (Public Records) $111,500 Public Records
• 2005-12-15 Sold (Public Records) $103,250 Public Records
• 2004-12-27 Sold (Public Records) $96,000 Public Records
• 2000-06-29 Sold (Public Records) $65,000 Public Records
• 1997-03-26 Sold (Public Records) $69,500 Public Records

Property tax history

+1.1%/yr

Latest (2025): $4,270 · +7.1% YoY. Source: county tax records.