1726 Elmwood Ave · Niagara Falls, NY 14301

$160,000

4 bd · 2.0 ba · 1,536 sqft · MultiFamily public records · 124 Days on market

Built 1925 4,320 sqft lot $104/sqft · at area comps Est $153k · at est.

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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
• Appreciation +10.0/10.0
• ARV discount +5.4/15.0
• Rent growth +4.7/5.0
• Livability +3.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Wonderful opportunity to own this multi-family property located within the Niagara Falls NY approved short-term rental area; minutes from the Rainbow Bridge, Niagara Falls State Park, local restaurants, shopping and other amenities. Property offers two units, each 2 bedrooms and 1 full bath. Separate utilities make this perfect for rental investment, short-term rental, or owner occupy. Private driveway provides convenient off-street parking for owners, tenants, and guests.

Key facts

• Separate utilities
• Private driveway
• Off-street parking

Tags

• MULTI-FAMILY PROPERTY
• SEPARATE UTILITIES
• PRIVATE DRIVEWAY
• OFF-STREET PARKING

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $768 ($9k/yr) — positive. Per door: $384/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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: crime F, amenities F, commute 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.
• Zoned schools: Harry F Abate Elementary School (math 16% / reading 32%, grade F, #1,909 of 2,108 statewide, top 91%, 695 students, 82% FRL); Gaskill Preparatory School (math 10% / reading 22%, grade F, #702 of 729 statewide, top 96%, 500 students, 78% FRL); Niagara Falls High School (math 75% / reading 92%, grade A, #409 of 1,100 statewide, top 39%, 2,139 students, 71% FRL).
• Market conditions: Rents rising fast (+8.8%/yr); 164 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k 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 + 8.0% rent growth), your $45k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 124 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 8 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 $135k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 124 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.51% ✓
• Cap rate: 12.05%
• Cash-on-cash: 20.56%
• DSCR: 1.91
• GRM: 5.5

CMA / ARV

• ARV (median comp): $152,909
• List price: $160,000
• Delta: 4.64%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
746 17th St	0.15mi	4/2.0	1,475 (-4%)	1mo	$72,000	$49	86
614 20th St	0.34mi	4/2.0	1,570 (+2%)	1mo	$100,000	$64	80
1970 Whitney Ave	0.27mi	3/2.0 (-1)	1,562 (+2%)	8mo	$122,000	$78	73
1888 Weston Ave	0.51mi	4/2.0	1,512 (-2%)	4mo	$30,000	$20	70
1535 Pierce Ave	0.24mi	4/2.0	1,724 (+12%)	2mo	$35,000	$20	66
2236 Linwood Ave	0.46mi	3/2.0 (-1)	1,544 (+0%)	8mo	$163,000	$106	66
2260 Weston Ave	0.59mi	3/2.0 (-1)	1,540 (+0%)	3mo	$135,000	$88	64
555 25th St	0.57mi	4/2.0	1,619 (+5%)	7mo	$128,000	$79	58
420 18th St	0.64mi	4/2.5	1,632 (+6%)	3mo	$115,000	$70	56
2234 Willow Ave	0.41mi	3/2.0 (-1)	1,386 (-10%)	11mo	$105,000	$76	50
2254 Grand Ave	0.35mi	5/2.0 (+1)	1,748 (+14%)	8mo	$149,000	$85	48
443 21st St	0.63mi	3/2.0 (-1)	1,428 (-7%)	10mo	$65,000	$46	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 42.4%
• Equity multiple: 4.32×
• Total profit: $148,832
• Equity at exit: $144,141

10-year hold

• IRR: 38.7%
• Equity multiple: 10.63×
• Total profit: $431,548
• Equity at exit: $310,845

Cash invested: $44,800 (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 14301

• Home prices YoY: 6.2%
• Rents YoY: 8.8%
• Active inventory: 164
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,413 high
• Mortgage (P&I): −$839
• Tax from tax record: −$233 /mo · $2,797/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $768

Break-even live

Break-even rent $1,441

Max offer price $160,000

Occupancy floor 63%

Sensitivity live

Price	-10% $858	-5% $813	+0% $768	+5% $722	+10% $677
Rent	-10% $577	-5% $672	+0% $768	+5% $863	+10% $958
Rate	-1.0pp $848	-0.5pp $808	base $768	+0.5pp $726	+1.0pp $684

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,412
Total (2 units)			$2,413

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 9 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	0.07mi
2020 Forest Ave Niagara Falls, NY	4.0	2.0	1600	$1,500	$0.94	19d	1	0.16mi
784 15th St Niagara Falls, NY	3.0	1.5	1380	$1,350	$0.98	5d	1	0.21mi
1427 Fort Ave Unit 2 Niagara Falls, NY	3.0	1.0	1058	$950	$0.90	45d	1	0.60mi
724 Augustus Pl Niagara Falls, NY	4.0	1.0	1200	$1,500	$1.25	45d	1	0.73mi
420 25th St Niagara Falls, NY	3.0	1.0	1101	$1,500	$1.36	45d	1	0.74mi
642 Ashland Ave Niagara Falls, NY	3.0	1.0	1238	$1,100	$0.89	5d	1	0.86mi
2420 Mackenna Ave Unit 1 Niagara Falls, NY	4.0	1.0	1300	$1,390	$1.07	3d	1	0.96mi
3225 Belden Pl Niagara Falls, NY	5.0	1.5	1344	$1,750	$1.30	3d	1	1.15mi

Listing history 40 events

1. 2026-06-21
   days on market $160,000 Active 124 DOM
2. 2026-06-18
   days on market $160,000 Active 121 DOM
3. 2026-06-17
   days on market $160,000 Active 120 DOM
4. 2026-06-16
   days on market $160,000 Active 119 DOM
5. 2026-06-15
   days on market $160,000 Active 118 DOM
6. 2026-06-13
   days on market $160,000 Active 116 DOM
7. 2026-06-13
   days on market $160,000 Active 115 DOM
8. 2026-06-10
   days on market $160,000 Active 113 DOM
9. 2026-06-09
   days on market $160,000 Active 112 DOM
10. 2026-06-08
    days on market $160,000 Active 111 DOM
11. 2026-06-07
    days on market $160,000 Active 110 DOM
12. 2026-06-03
    days on market $160,000 Active 106 DOM
13. 2026-06-02
    days on market $160,000 Active 105 DOM
14. 2026-06-01
    days on market $160,000 Active 104 DOM
15. 2026-05-31
    days on market $160,000 Active 103 DOM
16. 2026-02-17
    listed $160,000 Active 477-char remark

    Show marketing remark (477 chars)

    Wonderful opportunity to own this multi-family property located within the Niagara Falls NY approved short-term rental area; minutes from the Rainbow Bridge, Niagara Falls State Park, local restaurants, shopping and other amenities. Property offers two units, each 2 bedrooms and 1 full bath. Separate utilities make this perfect for rental investment, short-term rental, or owner occupy. Private driveway provides convenient off-street parking for owners, tenants, and guests.

17. 2026-02-17
    historical

    Show marketing remark (477 chars)

    Wonderful opportunity to own this multi-family property located within the Niagara Falls NY approved short-term rental area; minutes from the Rainbow Bridge, Niagara Falls State Park, local restaurants, shopping and other amenities. Property offers two units, each 2 bedrooms and 1 full bath. Separate utilities make this perfect for rental investment, short-term rental, or owner occupy. Private driveway provides convenient off-street parking for owners, tenants, and guests.

18. 2025-10-11
    listed $160,000 Active
19. 2025-10-02
    historical
20. 2025-05-27
    price $158,000
21. 2025-05-22
    price $159,000
22. 2025-05-14
    price $159,999
23. 2025-05-13
    price $169,999
24. 2025-05-13
    price $179,999
25. 2025-05-09
    price $169,999
26. 2025-05-02
    price $174,999
27. 2025-04-24
    price $179,999
28. 2025-04-16
    listed $198,999 Active
29. 2023-07-09
    historical
30. 2023-05-16
    listed $149,000 Active
31. 2022-04-14
    soldstatus $135,000
32. 2022-04-08
    soldstatus $135,000 Closed Sale or Rented
33. 2021-10-02
    status Under Contract- Do Not Show
34. 2021-10-02
    listed $140,000 Active
35. 2021-08-19
    historical
36. 2021-05-19
    listed $150,000 Active
37. 2020-06-15
    historical
38. 2020-03-18
    listed $119,900 Active
39. 2018-11-27
    historical
40. 2018-05-27
    listed $136,000 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: $2,797 · $233/mo
• Projected year-2 tax: $2,797 · $233/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: $28,956
• − Mortgage interest: −$8,962
• − Property taxes: −$2,797
• − Insurance: −$800
• − Repairs & maintenance: −$2,316
• − Management: −$2,316
• − Depreciation: −$4,655
• Taxable income: $7,109
• Est. tax owed @ 24.0%: −$1,706
• After-tax cash flow: $7,504/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): 10,923
• Household income: $34,549
• Rent vs Own: 54.1% rent · 45.9% own
• Severe rent burden: 954.0

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 0.58)
• Race & ethnicity: White 59% Black 25% Two or more races 8% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 6% Slovak 2% Lithuanian 1%
• Foreign-born: 5% · Canada, China, Dominican Republic
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 3% Chinese 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: ▲ 15.41%
• Current HPI: 266.1457
• Rent YoY: ▲ 8.79%
• 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

+17.6% since first listed

25 events — show timeline

• 2026-02-17 Listing Removed — WNYREIS
• 2026-02-17 Listed $160,000 WNYREIS
• 2025-10-11 Listed $160,000 WNYREIS
• 2025-10-02 Listing Removed — WNYREIS
• 2025-05-27 Price Changed $158,000 WNYREIS
• 2025-05-22 Price Changed $159,000 WNYREIS
• 2025-05-14 Price Changed $159,999 WNYREIS
• 2025-05-13 Price Changed $169,999 WNYREIS
• 2025-05-13 Price Changed $179,999 WNYREIS
• 2025-05-09 Price Changed $169,999 WNYREIS
• 2025-05-02 Price Changed $174,999 WNYREIS
• 2025-04-24 Price Changed $179,999 WNYREIS
• 2025-04-16 Listed $198,999 WNYREIS
• 2023-07-09 Listing Removed — WNYREIS
• 2023-05-16 Listed $149,000 WNYREIS
• 2022-04-14 Sold (Public Records) $135,000 Public Records
• 2022-04-08 Sold (MLS) $135,000 WNYREIS
• 2021-10-02 Pending — WNYREIS
• 2021-10-02 Listed $140,000 WNYREIS
• 2021-08-19 Listing Removed — WNYREIS
• 2021-05-19 Listed $150,000 WNYREIS
• 2020-06-15 Listing Removed — WNYREIS
• 2020-03-18 Listed $119,900 WNYREIS
• 2018-11-27 Listing Removed — WNYREIS
• 2018-05-27 Listed $136,000 WNYREIS

Property tax history

+7.2%/yr

Latest (2025): $2,797 · +28.3% YoY. Source: county tax records.