1242 87th St · Niagara Falls, NY 14304

$174,900

4 bd · 1.0 ba · 1,400 sqft · SingleFamily public records · 2 Days on market

Built 1940 7,200 sqft lot Est $207k · 16% under

---

Why this score? — see what drove the C 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 +19.3/30.0
• ARV discount +14.5/15.0
• DSCR +6.1/10.0
• 1% rule +5.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming Cape Cod with Detached Garage! Welcome home to this well maintained Cape Cod offering a flexible and inviting floor plan. The first floor features two comfortable bedrooms, a bright living room, and an efficient layout perfect for every day living. Upstairs, you'll find two additional bedrooms connected by an open style space, ideal for a home office, reading nook, play area, or sitting room. The basement is partially finished. A detached garage provides convenient parking. With its classic character, versatile living spaces and cozy charm, this home is ready for its next owner to make it their own.

Key facts

• 7,200 sq ft lot
• Garage
• Built 1940

Property features AI

Exterior

• Parking: Detached garage; Approximately 1.5 garage spaces
• Utilities: Public water connected; Sewer connected; Circuit breaker electrical service
• Home design: Single-story home; Resale property; Existing construction
• Construction: Aluminum siding; Copper plumbing; Poured foundation
• Exterior features: Concrete driveway; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: Two main-level bedrooms; Bedroom on main level
• Flooring: Carpet; Hardwood; Varies
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Breakfast bar; Eat-in kitchen; Separate/formal living room; Other interior features (see remarks)
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).

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: 142 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($67k/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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $174,900

Questions for the listing agent

1. Built in 1940 — 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: 1.08% ✓
• Cap rate: 7.62%
• Cash-on-cash: 4.73%
• DSCR: 1.21
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $207,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1226 87th St	0.03mi	3/1.5 (-1)	1,480 (+6%)	5mo	$197,000	$133	78
628 82nd St	0.40mi	3/1.5 (-1)	1,480 (+6%)	8mo	$219,000	$148	58
817 87th St	0.49mi	4/2.0	1,520 (+9%)	8mo	$220,000	$145	53
411 81st St	0.71mi	3/1.5 (-1)	1,344 (-4%)	1mo	$170,000	$126	52
737 92nd St	0.63mi	3/1.0 (-1)	1,318 (-6%)	8mo	$145,000	$110	49
555 77th St	0.68mi	3/1.0 (-1)	1,312 (-6%)	4mo	$49,000	$37	49
1631 Tuscarora Rd	0.43mi	3/2.0 (-1)	1,260 (-10%)	7mo	$282,000	$224	48
9411 Niemel Dr	0.57mi	3/1.5 (-1)	1,525 (+9%)	6mo	$225,000	$148	46
1296 93rd St	0.44mi	3/1.5 (-1)	1,198 (-14%)	5mo	$260,000	$217	45
550 78th St	0.66mi	4/1.0	1,200 (-14%)	1mo	$175,000	$146	44
503 77th St	0.73mi	3/2.0 (-1)	1,296 (-7%)	0mo	$230,000	$177	44
502 81st St	0.58mi	3/1.0 (-1)	1,194 (-15%)	1mo	$185,000	$155	43

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: -8.9%
• Equity multiple: 0.67×
• Total profit: $-15,956
• Equity at exit: $26,078

10-year hold

• IRR: 0.7%
• Equity multiple: 1.05×
• Total profit: $2,286
• Equity at exit: $15,122

Cash invested: $48,972 (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 14304

• Active inventory: 142
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,888 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$309 /mo · $3,703/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $193

Break-even live

Break-even rent $1,644

Max offer price $174,900

Occupancy floor 85%

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8520 Munson Ave Niagara Falls, NY	3.0	1.0	1216	$2,200	$1.81	17d	1	0.58mi

Listing history 3 events

1. 2026-06-18
   days on market $174,900 Active 2 DOM
2. 2026-06-16
   remarks 616-char remark
3. 2026-06-16
   listed $174,900 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: $3,703 · $309/mo
• Projected year-2 tax: $3,703 · $309/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 · 14 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: $22,661
• − Mortgage interest: −$9,797
• − Property taxes: −$3,703
• − Insurance: −$874
• − Repairs & maintenance: −$1,813
• − Management: −$1,813
• − Depreciation: −$5,088
• Taxable loss: −$428
• Est. tax savings @ 24.0%: +$103
• After-tax cash flow: $2,420/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): 29,208
• Household income: $66,660
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 698.0

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: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Hispanic / Latino 4% Black 3% Asian 2%
• Common ancestry: Romanian 10% Lithuanian 3% Slovak 2%
• Foreign-born: 3% · Canada, China, Vietnam
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% 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: ▼ -231.77%
• Current HPI: 280.3295
• 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 event — show timeline

• 2026-06-16 Listed $174,900 WNYREIS

Property tax history

+11.9%/yr

Latest (2025): $3,703 · +25.0% YoY. Source: county tax records.