608 20th St · Niagara Falls, NY 14301

$94,999

3 bd · 1.5 ba · 728 sqft · SingleFamily public records · 45 Days on market

Built 1920 6,768 sqft lot $130/sqft · 13% above area Est $84k · 13% over ↓ 58% since listing

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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 +29.1/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +7.8/10.0
• Rent growth +4.7/5.0
• Livability +3.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +1.7/15.0

Listing remarks

Welcome to 608 20th Street! This single-family home offers just over 728 square feet of living space, featuring 2 bedrooms and 1 bathroom. What truly sets this property apart is the expansive corner lot, which presents a unique opportunity for development. The lot offers the potential to build up to two additional single-family homes, making it an excellent option for investors or developers. With some TLC, this property could be transformed into a strong investment or a great place to call home. This property may also be available as part of a package deal, including 1117 Pierce Ave, 545 20th Street, and 919 Cedar Ave.

Key facts

• 6,768 sq ft lot
• Parking
• Built 1920

Property features AI

Exterior

• Parking: Driveway; No garage
• Utilities: Public water connected; Sewer connected
• Home design: Single-story; Existing/resale property; Wood siding
• Construction: Stone foundation
• Exterior features: Corner lot; Rectangular lot; Lot dimensions approximately 72 x 94

Interior

• Kitchen: Gas water heater
• Bedrooms: 6 total rooms (includes living spaces and bedrooms)
• Flooring: Hardwood; Tile; Varies
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Separate/formal dining room; Entrance foyer; Full basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% of the median local income ($35k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $10k of equity ($657 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 $27k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $26k; list at $95k implies a 273% 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 $92,149 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.28% ✓
• Cap rate: 10.44%
• Cash-on-cash: 14.80%
• DSCR: 1.66
• GRM: 6.5

CMA / ARV

• ARV (median comp): $84,181
• List price: $94,999
• Delta: 12.85%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2016 Ferry Ave	0.15mi	2/1.0 (-1)	720 (-1%)	18mo	$65,000	$90	69
1102 22nd St	0.38mi	2/1.5 (-1)	720 (-1%)	16mo	$87,000	$121	62
507 19th St	0.14mi	2/1.0 (-1)	800 (+10%)	12mo	$16,900	$21	60
559 31st St	0.68mi	2/1.0 (-1)	725 (-0%)	2mo	$89,500	$123	59
2247 Independence Ave	0.28mi	2/1.0 (-1)	624 (-14%)	2mo	$88,000	$141	55
422 26th St	0.49mi	2/1.0 (-1)	760 (+4%)	12mo	$67,500	$89	53
632 29th St	0.54mi	2/1.0 (-1)	702 (-4%)	14mo	$42,000	$60	50
622 27th St	0.42mi	2/1.0 (-1)	640 (-12%)	11mo	$120,000	$188	44
2482 Pierce Ave	0.68mi	2/1.0 (-1)	758 (+4%)	18mo	$95,000	$125	39
1336 Elmwood Ave	0.51mi	2/1.0 (-1)	804 (+10%)	17mo	$50,000	$62	38
2641 Welch Ave	0.63mi	2/1.0 (-1)	792 (+9%)	17mo	$50,000	$63	35
2240 Linwood Ave	0.71mi	2/1.0 (-1)	640 (-12%)	14mo	$70,000	$109	28

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: 37.6%
• Equity multiple: 3.97×
• Total profit: $79,091
• Equity at exit: $85,583

10-year hold

• IRR: 34.3%
• Equity multiple: 9.74×
• Total profit: $232,469
• Equity at exit: $184,562

Cash invested: $26,600 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,221 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$98 /mo · $1,181/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $328

Break-even live

Break-even rent $805

Max offer price $94,999

Occupancy floor 68%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
613 13th St Unit 1 Niagara Falls, NY	2.0	1.0	750	$1,100	$1.47	17d	1	0.43mi
3626 Dudley Ave Niagara Falls, NY	2.0	1.0	700	$1,250	$1.79	44d	1	1.00mi

Listing history 20 events

1. 2026-06-18
   days on market $94,999 Active 45 DOM
2. 2026-06-17
   days on market $94,999 Active 44 DOM
3. 2026-06-16
   days on market $94,999 Active 43 DOM
4. 2026-06-15
   days on market $94,999 Active 42 DOM
5. 2026-06-13
   days on market $94,999 Active 40 DOM
6. 2026-06-13
   days on market $94,999 Active 39 DOM
7. 2026-06-10
   days on market $94,999 Active 37 DOM
8. 2026-06-09
   days on market $94,999 Active 36 DOM
9. 2026-06-08
   days on market $94,999 Active 35 DOM
10. 2026-06-07
    pricedays on market $94,999 Active 34 DOM
11. 2026-06-03
    days on market $99,999 Active 30 DOM
12. 2026-06-02
    days on market $99,999 Active 29 DOM
13. 2026-06-01
    days on market $99,999 Active 28 DOM
14. 2026-05-31
    days on market $99,999 Active 27 DOM
15. 2026-05-04
    listed $99,999 Active 627-char remark
16. 2023-03-31
    historical
17. 2022-09-23
    listed $124,900 Active
18. 2008-05-30
    soldstatus $25,500
19. 2006-07-25
    soldstatus $227,000
20. 2006-07-25
    soldstatus $365,000

ⓘ 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: $1,181 · $98/mo
• Projected year-2 tax: $1,393 · $116/mo
• Expected delta: +$212/yr (+$18/mo · 18.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $14,647
• − Mortgage interest: −$5,321
• − Property taxes: −$1,181
• − Insurance: −$475
• − Repairs & maintenance: −$1,172
• − Management: −$1,172
• − Depreciation: −$2,764
• Taxable income: $2,562
• Est. tax owed @ 24.0%: −$615
• After-tax cash flow: $3,322/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

-58.2% since first listed

7 events — show timeline

• 2026-06-04 Price Changed $94,999 WNYREIS
• 2026-05-04 Listed $99,999 WNYREIS
• 2023-03-31 Listing Removed — WNYREIS
• 2022-09-23 Listed $124,900 WNYREIS
• 2008-05-30 Sold (Public Records) $25,500 Public Records
• 2006-07-25 Sold (Public Records) $365,000 Public Records
• 2006-07-25 Sold (Public Records) $227,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $1,181 · +7.3% YoY. Source: county tax records.