3590 Curtis Ave · Ransomville, NY 14131

$119,900

2 bd · 2.0 ba · 1,845 sqft · MultiFamily public records · 46 Days on market

Built 1910 0.28 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• 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

Bring your imagination and tools. This home was once a single family house with living room, dining room, bath, kitchen and office area down as well as 3+ bedrooms and a bath upstairs. It was being converted to a 2 family home and never completed. This could still be a single home or income property. There are separate electric meters plus replacement windows.

Key facts

• Income property
• Single family house
• Replacement windows

Tags

• SINGLE FAMILY HOUSE
• INCOME PROPERTY
• SEPARATE ELECTRIC METERS
• REPLACEMENT WINDOWS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $120k.

Deal economics

• At list price, monthly cash flow is $603 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 2.6% in Ransomville — 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 68/100 on livability (#548 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Wilson Central School District (town): math 52% / reading 55% proficiency, ranked #319 of 590 in NY (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 32 active listings in the ZIP; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($829 loan paydown + $12k 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 + 3.0% rent growth), your $34k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 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 1910 — 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. 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. 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: 1.73% ✓
• Cap rate: 12.33%
• Cash-on-cash: 21.56%
• DSCR: 1.96
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 40.5%
• Equity multiple: 4.09×
• Total profit: $103,881
• Equity at exit: $108,015

10-year hold

• IRR: 34.9%
• Equity multiple: 9.22×
• Total profit: $276,010
• Equity at exit: $232,939

Cash invested: $33,572 (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 14131

• Home prices YoY: 7.8%
• Active inventory: 32
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,072 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$355 /mo · $4,258/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $603

Break-even live

Break-even rent $1,308

Max offer price $119,900

Occupancy floor 66%

Sensitivity live

Price	-10% $671	-5% $637	+0% $603	+5% $569	+10% $535
Rent	-10% $440	-5% $521	+0% $603	+5% $685	+10% $767
Rate	-1.0pp $664	-0.5pp $634	base $603	+0.5pp $572	+1.0pp $541

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,072
Total (2 units)			$2,072

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-03-10
   status Pending
2. 2026-01-23
   listed $119,900 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: $4,258 · $355/mo
• Projected year-2 tax: $4,258 · $355/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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,864
• − Mortgage interest: −$6,716
• − Property taxes: −$4,258
• − Insurance: −$600
• − Repairs & maintenance: −$1,989
• − Management: −$1,989
• − Depreciation: −$3,488
• Taxable income: $5,824
• Est. tax owed @ 24.0%: −$1,398
• After-tax cash flow: $5,842/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: Wilson Central School District
• NCES district ID: 3631560
• Math proficiency: 52% ▼ -7.00%
• Reading proficiency: 55% ▲ 3.00%
• Median HH income: $57,181
• Composite: 46.37/100
• National rank: #2462
• State rank: #319 of 590 in NY

Livability — Ransomville

• Score: 68/100
• State rank: #548
• US rank: #9859

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ransomville, NY
• City population: 5,339
• Population (ZIP): 5,339

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: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 3% Black 2%
• Common ancestry: Romanian 14% Slovak 4% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 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: ▲ 21.41%
• Current HPI: 297.4314
• Rent YoY: —
• Metro: —
• 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

2 events — show timeline

• 2026-03-10 Pending — WNYREIS
• 2026-01-23 Listed $119,900 WNYREIS

Property tax history

+5.3%/yr

Latest (2025): $4,258 · +0.8% YoY. Source: county tax records.