411 81st St · Niagara Falls, NY 14304

$179,900

3 bd · 1.5 ba · 1,344 sqft · SingleFamily public records · 51 Days on market

Built 1940 4,635 sqft lot Est $196k · 8% under

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Why this score? — see what drove the D+ 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 +14.6/30.0
• ARV discount +11.2/15.0
• 1% rule +5.4/10.0
• DSCR +4.5/10.0
• 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 MLS

This single family home in the LaSalle area has a nice floor plan for a big single family! Nice size rooms. Yes, you definitely need to fix it but for the price you will have a very nice home in the end. The bones are good. The set up is nice. There is a large master bedroom and the other bedrooms are a good size. There is plenty of space for a large family to make this place a cozy home. If investors are interested that's great too you will definitely rent this home easily! It is in a very nice area as well! Oh, and don't forget to take a look at the room in the attic that can be used for an office or extra storage. I think this home has a lot of potential don't miss out!!

Key facts

• New doors
• Lasalle neighborhood
• New roof

Tags

• LASALLE NEIGHBORHOOD
• NEW ROOF
• NEW WINDOWS
• NEW DOORS
• UPDATED LIGHT FIXTURES
• IMPROVEMENTS IN KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $43 ($516/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $175k (3.0% below list) — sets the bar for market timing.

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: 144 active listings in the ZIP; 2 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

• It's been on market 51 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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 $75k; list at $180k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $174,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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 1940 — 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. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 1.04% ✓
• Cap rate: 6.58%
• Cash-on-cash: 1.02%
• DSCR: 1.05
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $196,224
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
411 81st St	0.00mi	3/1.5	1,344 (0%)	1mo	$170,000	$126	99
503 77th St	0.30mi	3/2.0	1,296 (-4%)	0mo	$230,000	$177	78
555 77th St	0.37mi	3/1.0	1,312 (-2%)	4mo	$49,000	$37	73
221 81st St	0.16mi	3/1.5	1,494 (+11%)	2mo	$120,000	$80	73
502 81st St	0.18mi	3/1.0	1,194 (-11%)	1mo	$185,000	$155	70
216 74th St	0.52mi	3/2.0	1,408 (+5%)	0mo	$205,000	$146	65
147 76th St	0.46mi	3/1.0	1,284 (-4%)	6mo	$164,000	$128	64
550 78th St	0.34mi	4/1.0 (+1)	1,200 (-11%)	1mo	$175,000	$146	58
8935 Joliet Ave	0.71mi	3/2.0	1,285 (-4%)	0mo	$281,588	$219	58
445 71st St	0.60mi	3/1.0	1,232 (-8%)	4mo	$177,000	$144	53
1226 87th St	0.69mi	3/1.5	1,480 (+10%)	5mo	$197,000	$133	47
618 82nd St	0.37mi	4/1.0 (+1)	1,152 (-14%)	6mo	$180,000	$156	47

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: -14.6%
• Equity multiple: 0.48×
• Total profit: $-26,266
• Equity at exit: $26,824

10-year hold

• IRR: -5.7%
• Equity multiple: 0.63×
• Total profit: $-18,746
• Equity at exit: $15,554

Cash invested: $50,372 (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: 144
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,875 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$420 /mo · $5,043/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $43

Break-even live

Break-even rent $1,821

Max offer price $179,900

Occupancy floor 93%

Sensitivity live

Price	-10% $145	-5% $94	+0% $43	+5% $-8	+10% $-59
Rent	-10% $-105	-5% $-31	+0% $43	+5% $117	+10% $191
Rate	-1.0pp $134	-0.5pp $89	base $43	+0.5pp $-4	+1.0pp $-51

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	18d	1	0.26mi
8833 Pear Ave Niagara Falls, NY	2.0	1.0	1096	$1,700	$1.55	2d	1	0.69mi

Listing history 16 events

1. 2026-04-10
   status Pending
2. 2026-03-14
   status Active
3. 2025-12-31
   status Pending
4. 2025-12-08
   listed $179,900 Active
5. 2025-07-02
   soldstatus $75,000
6. 2025-06-27
   soldstatus $74,400 Closed 684-char remark

   Show marketing remark (684 chars)

   This single family home in the LaSalle area has a nice floor plan for a big single family! Nice size rooms. Yes, you definitely need to fix it but for the price you will have a very nice home in the end. The bones are good. The set up is nice. There is a large master bedroom and the other bedrooms are a good size. There is plenty of space for a large family to make this place a cozy home. If investors are interested that's great too you will definitely rent this home easily! It is in a very nice area as well! Oh, and don't forget to take a look at the room in the attic that can be used for an office or extra storage. I think this home has a lot of potential don't miss out!!

7. 2025-04-29
   status Pending 684-char remark

   Show marketing remark (684 chars)

   This single family home in the LaSalle area has a nice floor plan for a big single family! Nice size rooms. Yes, you definitely need to fix it but for the price you will have a very nice home in the end. The bones are good. The set up is nice. There is a large master bedroom and the other bedrooms are a good size. There is plenty of space for a large family to make this place a cozy home. If investors are interested that's great too you will definitely rent this home easily! It is in a very nice area as well! Oh, and don't forget to take a look at the room in the attic that can be used for an office or extra storage. I think this home has a lot of potential don't miss out!!

8. 2025-03-26
   price $80,000 684-char remark

   Show marketing remark (684 chars)

   This single family home in the LaSalle area has a nice floor plan for a big single family! Nice size rooms. Yes, you definitely need to fix it but for the price you will have a very nice home in the end. The bones are good. The set up is nice. There is a large master bedroom and the other bedrooms are a good size. There is plenty of space for a large family to make this place a cozy home. If investors are interested that's great too you will definitely rent this home easily! It is in a very nice area as well! Oh, and don't forget to take a look at the room in the attic that can be used for an office or extra storage. I think this home has a lot of potential don't miss out!!

9. 2025-03-17
   listed $105,000 Active 684-char remark

   Show marketing remark (684 chars)

   This single family home in the LaSalle area has a nice floor plan for a big single family! Nice size rooms. Yes, you definitely need to fix it but for the price you will have a very nice home in the end. The bones are good. The set up is nice. There is a large master bedroom and the other bedrooms are a good size. There is plenty of space for a large family to make this place a cozy home. If investors are interested that's great too you will definitely rent this home easily! It is in a very nice area as well! Oh, and don't forget to take a look at the room in the attic that can be used for an office or extra storage. I think this home has a lot of potential don't miss out!!

10. 2023-05-16
    historical
11. 2023-03-06
    price $119,000
12. 2023-02-16
    listed $129,900 Active
13. 2022-12-19
    historical
14. 2022-10-25
    price $140,000
15. 2022-09-12
    listed $150,000 Active
16. 1995-02-21
    soldstatus $41,200

ⓘ 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: $5,043 · $420/mo
• Projected year-2 tax: $5,043 · $420/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: $22,505
• − Mortgage interest: −$10,077
• − Property taxes: −$5,043
• − Insurance: −$900
• − Repairs & maintenance: −$1,800
• − Management: −$1,800
• − Depreciation: −$5,233
• Taxable loss: −$2,349
• Est. tax savings @ 24.0%: +$564
• After-tax cash flow: $1,079/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

+336.7% since first listed

16 events — show timeline

• 2026-04-10 Pending — WNYREIS
• 2026-03-14 Relisted — WNYREIS
• 2025-12-31 Pending — WNYREIS
• 2025-12-08 Listed $179,900 WNYREIS
• 2025-07-02 Sold (Public Records) $75,000 Public Records
• 2025-06-27 Sold (MLS) $74,400 WNYREIS
• 2025-04-29 Pending — WNYREIS
• 2025-03-26 Price Changed $80,000 WNYREIS
• 2025-03-17 Listed $105,000 WNYREIS
• 2023-05-16 Listing Removed — WNYREIS
• 2023-03-06 Price Changed $119,000 WNYREIS
• 2023-02-16 Listed $129,900 WNYREIS
• 2022-12-19 Listing Removed — WNYREIS
• 2022-10-25 Price Changed $140,000 WNYREIS
• 2022-09-12 Listed $150,000 WNYREIS
• 1995-02-21 Sold (Public Records) $41,200 Public Records

Property tax history

+5.4%/yr

Latest (2025): $5,043 · +25.5% YoY. Source: county tax records.