482 20th St · Niagara Falls, NY 14303

$89,000

4 bd · 2.0 ba · 1,134 sqft · SingleFamily public records · 22 Days on market

Built 1920 3,125 sqft lot Est $143k · 38% under ↓ 1% since listing

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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

Listing remarks

Welcome to this well-loved 4-bedroom home featuring a spacious layout and thoughtful updates throughout. The large eat-in kitchen stands out with spectacular custom tile work and includes appliances, offering plenty of room for cooking and gathering. The first floor provides exceptional convenience with: A first-floor bedroom A first-floor laundry room with a washer and dryer included A custom-tiled full bathroom featuring Bluetooth sound Upstairs, you’ll find three additional bedrooms and a second full bath, giving everyone the space they need. The full basement has been professionally waterproofed, recently completed with secured walls, and is nicely maintained, offering excelle

Key facts

• Custom tile work
• Eat-in kitchen
• Fenced rear yard

Tags

• EAT-IN KITCHEN
• CUSTOM TILE WORK
• FIRST FLOOR LAUNDRY ROOM
• CUSTOM-TILED FULL BATHROOM
• FENCED REAR YARD

Property features AI

Finance

• Other: Property taxed (annual tax shown in records)

Exterior

• Parking: No garage; No driveway
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: Single-story home; Resale property; Shingle roof; Frame construction; Stone foundation
• Construction: Built (existing); Frame construction; Shingle roof; Stone foundation
• Exterior features: Flag lot; Near public transit; Lot dimensions approximately 25 x 125

Interior

• Kitchen: Convection oven; Electric cooktop; Microwave; Refrigerator; Freezer
• Bedrooms: One main-level bedroom
• Flooring: Hardwood; Varied flooring
• Bathrooms: Two full bathrooms; One bathroom on the main level
• Heating & cooling: Gas heating; Baseboard heating; Heating details: see remarks
• Interior features: Den; Separate/formal dining room; Pantry; Finished basement with sump pump; Has a basement; 9 total rooms
• Laundry & utility: Main-level laundry; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $436 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $88k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.2% 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: Bloneva Bond Primary School (math 2% / reading 17%, grade F, #2,075 of 2,108 statewide, top 99%, 403 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: 74 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 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 $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,665 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — 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. 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.
6. 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.
7. 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: 1.60% ✓
• Cap rate: 12.17%
• Cash-on-cash: 20.99%
• DSCR: 1.93
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $142,884
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
724 17th St	0.39mi	3/1.5 (-1)	1,179 (+4%)	4mo	$70,000	$59	65
627 13th St	0.48mi	3/1.5 (-1)	1,120 (-1%)	4mo	$110,000	$98	65
2487 Grand Ave	0.52mi	4/1.5	1,188 (+5%)	1mo	$169,900	$143	65
609 25th St	0.37mi	3/2.0 (-1)	1,040 (-8%)	2mo	$158,000	$152	63
2219 Forest Ave	0.49mi	3/1.0 (-1)	1,116 (-2%)	5mo	$155,000	$139	61
422 21st St	0.13mi	3/1.0 (-1)	992 (-12%)	5mo	$136,000	$137	60
1962 Falls St	0.28mi	3/1.0 (-1)	1,040 (-8%)	6mo	$76,000	$73	59
1923 Cudaback Ave	0.35mi	3/2.0 (-1)	1,008 (-11%)	2mo	$143,000	$142	58
545 29th St	0.59mi	4/2.0	1,270 (+12%)	5mo	$126,000	$99	48
2475 La Salle Ave	0.70mi	3/2.0 (-1)	1,024 (-10%)	6mo	$129,320	$126	41
1148 Haeberle Ave	0.59mi	3/1.0 (-1)	1,302 (+15%)	4mo	$85,000	$65	36
544 30th St	0.62mi	3/1.0 (-1)	964 (-15%)	3mo	$62,000	$64	34

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: 13.5%
• Equity multiple: 1.54×
• Total profit: $13,411
• Equity at exit: $13,270

10-year hold

• IRR: 22.3%
• Equity multiple: 2.91×
• Total profit: $47,703
• Equity at exit: $7,695

Cash invested: $24,920 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,424 high
• Mortgage (P&I): −$467
• Tax from tax record: −$185 /mo · $2,223/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $436

Break-even live

Break-even rent $872

Max offer price $89,000

Occupancy floor 64%

Sensitivity live

Price	-10% $486	-5% $461	+0% $436	+5% $411	+10% $386
Rent	-10% $323	-5% $380	+0% $436	+5% $492	+10% $548
Rate	-1.0pp $481	-0.5pp $459	base $436	+0.5pp $413	+1.0pp $389

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1427 Fort Ave Unit 2 Niagara Falls, NY	3.0	1.0	1058	$950	$0.90	45d	1	0.29mi
420 25th St Niagara Falls, NY	3.0	1.0	1101	$1,500	$1.36	45d	1	0.34mi
2420 Mackenna Ave Unit 1 Niagara Falls, NY	4.0	1.0	1300	$1,390	$1.07	3d	1	0.49mi
754 15th St Niagara Falls, NY	3.0	1.0	990	$1,100	$1.11	25d	1	0.50mi
2727 Monroe Ave Niagara Falls, NY	3.0	1.0	960	$1,500	$1.56	12d	1	0.51mi
1001 17th St Niagara Falls, NY	3.0	1.0	1152	$1,800	$1.56	25d	1	0.54mi
784 15th St Niagara Falls, NY	3.0	1.5	1380	$1,350	$0.98	5d	1	0.56mi
3036 Welch Ave Niagara Falls, NY	3.0	1.0	1000	$1,500	$1.50	3d	1	0.74mi
724 Augustus Pl Niagara Falls, NY	4.0	1.0	1200	$1,500	$1.25	45d	1	0.80mi
3225 Belden Pl Niagara Falls, NY	5.0	1.5	1344	$1,750	$1.30	3d	1	0.89mi
3340 Simmons Ave Niagara Falls, NY	3.0	1.0	1008	$1,550	$1.54	16d	1	1.00mi
642 Ashland Ave Niagara Falls, NY	3.0	1.0	1238	$1,100	$0.89	5d	1	1.12mi

Listing history 16 events

1. 2026-06-21
   days on market $89,000 Active 22 DOM
2. 2026-06-18
   days on market $89,000 Active 19 DOM
3. 2026-06-17
   days on market $89,000 Active 18 DOM
4. 2026-06-16
   days on market $89,000 Active 17 DOM
5. 2026-06-15
   days on market $89,000 Active 16 DOM
6. 2026-06-13
   days on market $89,000 Active 14 DOM
7. 2026-06-13
   days on market $89,000 Active 13 DOM
8. 2026-06-10
   days on market $89,000 Active 11 DOM
9. 2026-06-09
   days on market $89,000 Active 10 DOM
10. 2026-06-08
    days on market $89,000 Active 9 DOM
11. 2026-06-07
    days on market $89,000 Active 8 DOM
12. 2026-06-03
    days on market $89,000 Active 4 DOM
13. 2026-06-02
    days on market $89,000 Active 3 DOM
14. 2026-06-01
    days on market $89,000 Active 2 DOM
15. 2026-05-31
    remarks 693-char remark
16. 2026-05-31
    listed $89,000 Active 1 DOM

ⓘ 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: $2,223 · $185/mo
• Projected year-2 tax: $2,223 · $185/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: $17,089
• − Mortgage interest: −$4,985
• − Property taxes: −$2,223
• − Insurance: −$445
• − Repairs & maintenance: −$1,367
• − Management: −$1,367
• − Depreciation: −$2,589
• Taxable income: $4,112
• Est. tax owed @ 24.0%: −$987
• After-tax cash flow: $4,244/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

-1.0% since first listed

15 events — show timeline

• 2026-05-29 Listed $89,000 WNYREIS
• 2025-12-20 Listing Removed — WNYREIS
• 2025-12-16 Listing Removed — WNYREIS
• 2025-12-16 Listing Removed — WNYREIS
• 2025-12-06 Price Changed $115,500 WNYREIS
• 2025-08-07 Listed $114,999 WNYREIS
• 2023-04-30 Listing Removed — WNYREIS
• 2023-01-17 Listed $129,000 WNYREIS
• 2022-08-28 Listing Removed — WNYREIS
• 2022-06-28 Listed $148,800 WNYREIS
• 2021-11-22 Listing Removed — WNYREIS
• 2021-09-17 Price Changed $124,900 WNYREIS
• 2021-07-10 Price Changed $89,900 WNYREIS
• 2021-06-28 Price Changed $79,900 WNYREIS
• 2021-05-24 Listed $89,900 WNYREIS

Property tax history

+13.1%/yr

Latest (2025): $2,223 · +19.3% YoY. Source: county tax records.