3817 Deveaux St · Niagara Falls, NY 14305

$109,900

3 bd · 3.0 ba · 1,727 sqft · MultiFamily public records · 2 Days on market

Built 1900 4,800 sqft lot $64/sqft · 24% below area Est $144k · 24% under

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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 +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Lower spaced rented for $1000/month for long term tenant. Upper tenant just moved out so that space is vacant. Easy to show. Has detached garage for more space. Laundry and bathroom in the basement. Good condition. This a money maker! It is priced to sell quick!

Key facts

• Bathroom in basement
• Laundry in basement
• Detached garage

Tags

• DETACHED GARAGE
• LAUNDRY IN BASEMENT
• BATHROOM IN BASEMENT

🏷️ Possibly a rental listed for sale. The $109,900 price doesn't fit this home's estimated sale value (~$143,778) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath multifamily listed at $110k.

Deal economics

• At list price, monthly cash flow is $448 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Cap rate 11.2% vs local median 7.7% 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: 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% of the median local income ($51k/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 $760 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 $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $35k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.64% ✓
• Cap rate: 11.18%
• Cash-on-cash: 17.46%
• DSCR: 1.78
• GRM: 5.1

CMA / ARV

• ARV (median comp): $143,778
• List price: $109,900
• Delta: -23.56%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 9.0%
• Equity multiple: 1.35×
• Total profit: $10,864
• Equity at exit: $16,386

10-year hold

• IRR: 18.2%
• Equity multiple: 2.52×
• Total profit: $46,827
• Equity at exit: $9,502

Cash invested: $30,772 (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 14305

• Home prices YoY: -10.9%
• Active inventory: 142
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,804 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$355 /mo · $4,261/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $448

Break-even live

Break-even rent $1,237

Max offer price $109,900

Occupancy floor 70%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3025 Macklem Ave Niagara Falls, NY	4.0	1.5	1750	$2,200	$1.26	43d	1	0.22mi
1312 Ontario Ave Niagara Falls, NY	2.0	1.0	1956	$1,200	$0.61	43d	1	0.85mi
1808 Whitney Ave Unit 3 Niagara Falls, NY	2.0	1.0	1200	$900	$0.75	43d	1	1.47mi

Listing history 18 events

1. 2026-06-18
   days on market $109,900 Active 2 DOM
2. 2026-06-16
   days on marketlisting id $109,900 Active 1 DOM
3. 2026-06-15
   days on market $109,900 Active 96 DOM
4. 2026-06-13
   days on market $109,900 Active 94 DOM
5. 2026-06-13
   days on market $109,900 Active 93 DOM
6. 2026-06-10
   days on market $109,900 Active 91 DOM
7. 2026-06-09
   days on market $109,900 Active 90 DOM
8. 2026-06-08
   pricedays on market $109,900 Active 89 DOM
9. 2026-06-07
   days on market $114,900 Active 88 DOM
10. 2026-06-03
    days on market $114,900 Active 84 DOM
11. 2026-06-02
    days on market $114,900 Active 83 DOM
12. 2026-06-01
    days on market $114,900 Active 82 DOM
13. 2026-05-31
    days on market $114,900 Active 81 DOM
14. 2026-03-31
    status Active 262-char remark

    Show marketing remark (262 chars)

    Lower spaced rented for $1000/month for long term tenant. Upper tenant just moved out so that space is vacant. Easy to show. Has detached garage for more space. Laundry and bathroom in the basement. Good condition. This a money maker! It is priced to sell quick!

15. 2026-02-17
    price $114,900 262-char remark

    Show marketing remark (262 chars)

    Lower spaced rented for $1000/month for long term tenant. Upper tenant just moved out so that space is vacant. Easy to show. Has detached garage for more space. Laundry and bathroom in the basement. Good condition. This a money maker! It is priced to sell quick!

16. 2026-02-17
    listed $144,900 Active 262-char remark

    Show marketing remark (262 chars)

    Lower spaced rented for $1000/month for long term tenant. Upper tenant just moved out so that space is vacant. Easy to show. Has detached garage for more space. Laundry and bathroom in the basement. Good condition. This a money maker! It is priced to sell quick!

17. 2024-03-20
    soldstatus $520,000
18. 2001-07-30
    soldstatus $17,500

ⓘ 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: $4,261 · $355/mo
• Projected year-2 tax: $4,261 · $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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥95°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: $21,644
• − Mortgage interest: −$6,156
• − Property taxes: −$4,261
• − Insurance: −$550
• − Repairs & maintenance: −$1,732
• − Management: −$1,732
• − Depreciation: −$3,197
• Taxable income: $4,017
• Est. tax owed @ 24.0%: −$964
• After-tax cash flow: $4,408/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): 16,696
• Household income: $51,004
• Rent vs Own: 38.4% rent · 61.6% own
• Severe rent burden: 1095.0

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 0.63)
• Race & ethnicity: White 55% Black 24% Two or more races 13% Hispanic / Latino 8% Asian 1% Native American 1%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 6% Slovak 2% Lithuanian 2%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 4% Other Indo-European 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: ▼ -43.08%
• Current HPI: 350.8741
• 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

+556.6% since first listed

5 events — show timeline

• 2026-03-31 Relisted — WNYREIS
• 2026-02-17 Price Changed $114,900 WNYREIS
• 2026-02-17 Listed $144,900 WNYREIS
• 2024-03-20 Sold (Public Records) $520,000 Public Records
• 2001-07-30 Sold (Public Records) $17,500 Public Records

Property tax history

+7.1%/yr

Latest (2025): $4,261 · +25.3% YoY. Source: county tax records.