144 Vandervoort St · North Tonawanda, NY 14120

$255,000

4 bd · 2.0 ba · 2,800 sqft · MultiFamily public records · 7 Days on market

Built 1920 0.25 ac lot

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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 +26.4/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Schools +4.2/10.0
• Livability +4.2/5.0
• Rent growth +4.0/5.0
• 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

Character, taste, and charm. This beautiful Victorian home has a personality you need to see to believe. Upper unit tastefully renovated to reflect an industrial chic worthy of the pictures. Kitchen, bath, and flooring just completed. 2nd Bedroom currently used as an office. Walk up attic space has a huge sitting /changing room with massive closet space. The rented lower unit is even more spacious and includes all appliances as well. The owner has been transferred during renovation and home is priced for a quick sale. Seller will not consider repairs as a result of an inspection. Showings begin Sunday at the Open House 1-3 both units open to tour.

Key facts

• Iconic turret
• Victorian charm
• Newer flooring

Tags

• VICTORIAN CHARM
• ICONIC TURRET
• UPDATED KITCHENS
• IN-UNIT LAUNDRY
• NEWER FLOORING
• COMPLETE TEAR-OFF ROOF

Property features AI

Finance

• Other: 2 total units in the building; Separate gas and electric meters for each unit
• Financial info: Tenant pays all utilities; Operating expenses include insurance, structural maintenance, supplies, and water/sewer (multi-unit)

Exterior

• Parking: 2-car garage; Two or more off-street parking spaces
• Utilities: Public water connected; Sewer connected; Cable available; High speed internet available
• Home design: 3 stories; Resale property
• Construction: Cedar siding; Composite siding; Shake siding; Wood siding; Existing construction
• Exterior features: Partial fencing; Patio; Corner lot; Rectangular lot

Interior

• Kitchen: Gas water heater
• Flooring: Ceramic tile; Hardwood; Laminate; Vinyl; Varies
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas heating; Hot water heating; Wall unit cooling
• Interior features: Programmable thermostat; Partial basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $255k.

Deal economics

• At list price, monthly cash flow is $663 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $255k).
• Cap rate 9.4% vs local median 4.0% in North Tonawanda — 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 85/100 on livability (#30 in NY, #518 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+.
• North Tonawanda City School District (suburban): math 42% / reading 57% proficiency, ranked #398 of 590 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.0%/yr); 178 active listings in the ZIP; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• At $3,093/mo this rent would consume 50% of the median local household income ($75k/yr) (locally 1303% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 + 6.0% rent growth), your $71k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 12y 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 $149k; list at $255k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $255,000

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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 1.21% ✓
• Cap rate: 9.41%
• Cash-on-cash: 11.15%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.96% rent growth · sell at horizon

5-year hold

• IRR: 3.7%
• Equity multiple: 1.15×
• Total profit: $10,475
• Equity at exit: $38,021

10-year hold

• IRR: 15.8%
• Equity multiple: 2.47×
• Total profit: $105,124
• Equity at exit: $22,048

Cash invested: $71,400 (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 14120

• Rents YoY: 6.0%
• Active inventory: 178
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $3,093 high
• Mortgage (P&I): −$1,337
• Tax from tax record: −$337 /mo · $4,038/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$650
• Net cashflow: $663

Break-even live

Break-even rent $2,253

Max offer price $255,000

Occupancy floor 74%

Sensitivity live

Price	-10% $808	-5% $736	+0% $663	+5% $591	+10% $519
Rent	-10% $419	-5% $541	+0% $663	+5% $786	+10% $908
Rate	-1.0pp $792	-0.5pp $728	base $663	+0.5pp $597	+1.0pp $530

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,094
Total (2 units)			$3,093

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-16
   statusdays on market $255,000 Pending 7 DOM
2. 2026-06-15
   days on market $255,000 Active 6 DOM
3. 2026-06-13
   days on market $255,000 Active 4 DOM
4. 2026-06-10
   remarks 692-char remark
5. 2026-06-10
   listed $255,000 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: $4,038 · $337/mo
• Projected year-2 tax: $4,174 · $348/mo
• Expected delta: +$136/yr (+$11/mo · 3.4%)

ⓘ 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,116
• − Mortgage interest: −$14,284
• − Property taxes: −$4,038
• − Insurance: −$1,275
• − Repairs & maintenance: −$2,969
• − Management: −$2,969
• − Depreciation: −$7,418
• Taxable income: $4,162
• Est. tax owed @ 24.0%: −$999
• After-tax cash flow: $6,962/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: North Tonawanda City School District
• NCES district ID: 3621240
• Math proficiency: 42% ▼ -16.00%
• Reading proficiency: 57% ▲ 4.00%
• Median HH income: $48,348
• Composite: 42.15/100
• National rank: #3301
• State rank: #398 of 590 in NY

Livability — North Tonawanda

• Score: 85/100
• State rank: #30
• US rank: #518

Category grades

Amenities C+ Commute A+ Cost of living A Crime A Employment C Housing A+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Tonawanda, NY
• County: Niagara County · 157,377 people
• City population: 44,241
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 44,241
• Household income: $74,871
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 1303.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Black 2%
• Common ancestry: Romanian 15% Lithuanian 2% Slovak 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Russian/Polish/Slavic 2% Spanish 1% 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: ▼ -260.39%
• Current HPI: 303.1744
• Rent YoY: ▲ 5.96%
• 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

+114.3% since first listed

9 events — show timeline

• 2026-06-09 Listed $255,000 WNYREIS
• 2018-10-18 Sold (Public Records) $149,000 Public Records
• 2018-10-18 Sold (MLS) $149,000 WNYREIS
• 2018-09-01 Pending — WNYREIS
• 2018-08-30 Pending — WNYREIS
• 2018-08-23 Listed $139,900 WNYREIS
• 2014-06-06 Sold (Public Records) $119,000 Public Records
• 2014-05-29 Sold (MLS) $119,000 WNYREIS
• 2014-03-10 Listed $119,000 WNYREIS

Property tax history

+2.3%/yr

Latest (2025): $4,038 · +2.1% YoY. Source: county tax records.