1614 Ferry Ave · Niagara Falls, NY 14301

$99,900

4 bd · 2.0 ba · 1,882 sqft · MultiFamily public records · 14 Days on market

Built 1929 3,500 sqft lot Est $132k · 24% under

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Why this score? — see what drove the A 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
• Appreciation +10.0/10.0
• 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: 1 unit. estimate disagrees with records

Key facts

• 3,500 sq ft lot
• 2 parking spots
• Built 1929

Property features AI

Finance

• Financial info: Owner pays water; Rents include water; Operating expense details: see remarks

Exterior

• Parking: No driveway; On-site parking available; Two or more parking spaces
• Utilities: Public water connected; Sewer connected
• Home design: 2-story property; Resale condition
• Construction: Composite siding
• Exterior features: Rectangular residential lot; City street frontage

Interior

• Flooring: Carpet; Ceramic tile; Hardwood; Vinyl; Varied flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $100k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 19.2% 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: Rents rising fast (+8.8%/yr); 164 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• At $2,472/mo this rent would consume 86% of the median local household income ($35k/yr) (locally 954% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $11k of equity ($691 loan paydown + $10k 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 $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 16y ago; this cycle's ask has dropped $50k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $17k; list at $100k implies a 488% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,900

Questions for the listing agent

1. Built in 1929 — 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: 2.47% ✓
• Cap rate: 19.15%
• Cash-on-cash: 45.93%
• DSCR: 3.04
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $131,740
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
541 20th St	0.25mi	5/2.0 (+1)	1,917 (+2%)	1mo	$112,000	$58	80
346 Portage Rd	0.26mi	3/2.0 (-1)	1,940 (+3%)	4mo	$142,500	$73	75
420 18th St	0.19mi	4/2.5	1,632 (-13%)	3mo	$115,000	$70	65
1968 Cudaback Ave	0.48mi	4/3.0	1,848 (-2%)	8mo	$20,000	$11	64
609 24th St	0.49mi	4/2.0	2,000 (+6%)	4mo	$140,000	$70	63
2615 Ferry Ave	0.63mi	4/2.0	1,848 (-2%)	6mo	$115,000	$62	63
2449 Grand Ave	0.61mi	5/2.0 (+1)	1,918 (+2%)	4mo	$135,000	$70	60
2219 Cudaback Ave	0.54mi	4/2.0	2,000 (+6%)	8mo	$80,000	$40	58
1535 Pierce Ave	0.69mi	4/2.0	1,724 (-8%)	2mo	$35,000	$20	52
2254 Grand Ave	0.52mi	5/2.0 (+1)	1,748 (-7%)	8mo	$149,000	$85	52
555 25th St	0.54mi	4/2.0	1,619 (-14%)	7mo	$128,000	$79	46
2409 La Salle Ave	0.72mi	4/2.0	2,154 (+14%)	6mo	$185,000	$86	37

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: 64.3%
• Equity multiple: 5.86×
• Total profit: $135,811
• Equity at exit: $89,998

10-year hold

• IRR: 60.1%
• Equity multiple: 14.55×
• Total profit: $378,995
• Equity at exit: $194,084

Cash invested: $27,972 (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 14301

• Home prices YoY: 6.2%
• Rents YoY: 8.8%
• Active inventory: 164
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,472 high
• Mortgage (P&I): −$524
• Tax from tax record: −$317 /mo · $3,802/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$519
• Net cashflow: $1,071

Break-even live

Break-even rent $1,117

Max offer price $99,900

Occupancy floor 52%

Sensitivity live

Price	-10% $1,127	-5% $1,099	+0% $1,071	+5% $1,042	+10% $1,014
Rent	-10% $875	-5% $973	+0% $1,071	+5% $1,168	+10% $1,266
Rate	-1.0pp $1,121	-0.5pp $1,096	base $1,071	+0.5pp $1,045	+1.0pp $1,018

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,472
Total (2 units)			$2,472

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
784 15th St Niagara Falls, NY	3.0	1.5	1380	$1,350	$0.98	4d	1	0.41mi
2020 Forest Ave Niagara Falls, NY	4.0	2.0	1600	$1,500	$0.94	18d	1	0.50mi
2420 Mackenna Ave Unit 1 Niagara Falls, NY	4.0	1.0	1300	$1,390	$1.07	2d	1	0.67mi
642 Ashland Ave Niagara Falls, NY	3.0	1.0	1238	$1,100	$0.89	4d	1	0.91mi
3225 Belden Pl Niagara Falls, NY	5.0	1.5	1344	$1,750	$1.30	2d	1	1.10mi

Listing history 10 events

1. 2026-06-18
   days on market $99,900 Active 14 DOM
2. 2026-06-17
   days on market $99,900 Active 13 DOM
3. 2026-06-16
   days on market $99,900 Active 12 DOM
4. 2026-06-15
   days on market $99,900 Active 11 DOM
5. 2026-06-13
   days on market $99,900 Active 9 DOM
6. 2026-06-13
   pricedays on market $99,900 Active 8 DOM
7. 2026-06-10
   days on market $149,900 Active 6 DOM
8. 2026-06-09
   days on market $149,900 Active 5 DOM
9. 2026-06-08
   days on market $149,900 Active 4 DOM
10. 2026-06-07
    listed $149,900 Active 3 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: $3,802 · $317/mo
• Projected year-2 tax: $3,802 · $317/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: $29,664
• − Mortgage interest: −$5,596
• − Property taxes: −$3,802
• − Insurance: −$500
• − Repairs & maintenance: −$2,373
• − Management: −$2,373
• − Depreciation: −$2,906
• Taxable income: $12,114
• Est. tax owed @ 24.0%: −$2,907
• After-tax cash flow: $9,939/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

+299.7% since first listed

15 events — show timeline

• 2026-06-04 Listed $149,900 WNYREIS
• 2026-04-04 Listing Removed — WNYREIS
• 2026-04-03 Listing Removed — WNYREIS
• 2026-04-02 Listing Removed — WNYREIS
• 2026-01-21 Pending — WNYREIS
• 2025-12-02 Listed $125,000 WNYREIS
• 2025-10-14 Pending — WNYREIS
• 2025-10-05 Listing Removed — WNYREIS
• 2025-09-13 Relisted — WNYREIS
• 2025-09-13 Price Changed $114,999 WNYREIS
• 2025-08-04 Pending — WNYREIS
• 2025-06-27 Listed $124,900 WNYREIS
• 2011-01-10 Sold (MLS) $17,000 WNYREIS
• 2010-10-29 Listed $19,900 WNYREIS
• 2005-06-24 Sold (Public Records) $37,500 Public Records

Property tax history

+7.7%/yr

Latest (2025): $3,802 · -3.3% YoY. Source: county tax records.