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2204 Ontario Ave
B+ Composite 76.56
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
  • Schools +3.8/10.0
  • Livability +3.0/5.0
  • Rent growth +2.5/5.0
  • Condition / age +2.2/5.0
  • Appreciation +0.0/10.0

$59,999

2204 Ontario Ave · Niagara Falls, NY 14305
3 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 47 Days on market
Built 1915 Fair condition 5,240 sqft lot $48/sqft · 49% below area Est $118k · 49% under ↓ 8% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Opportunity awaits in this 3-bedroom, 1-bath home in the heart of Niagara Falls! Packed with potential for investors, flippers, or buyers looking to build sweat equity, this property is ready for a full transformation. Spacious layout, solid footprint, and plenty of room to bring your vision to life. Conveniently located near shopping, restaurants, parks, and major routes. Whether you’re looking for your next project or an affordable property to renovate and make your own, this is your chance to unlock the possibilities.

Key facts

  • 5,240 sq ft lot
  • Built 1915
  • Listed 47 days

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 3-bed/1.0-bath single-family listed at $60k. Condition is rated fair.

Deal economics

  • At list price, monthly cash flow is $588 ($7k/yr) — positive.
  • The deal already cash-flows at list — no discount required.
  • Meets the 1% rule at list price ($1k rent vs $60k).
  • Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
  • Cap rate 18.0% vs local median 8.1% 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: crime F, amenities F, commute 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.
  • Zoned schools: Hyde Park School (math 8% / reading 22%, grade F, #2,024 of 2,108 statewide, top 97%, 505 students, 81% FRL); Gaskill Preparatory School (math 10% / reading 22%, grade F, #702 of 729 statewide, top 96%, 500 students, 78% FRL); Niagara Falls High School (math 75% / reading 92%, grade A, #409 of 1,100 statewide, top 39%, 2,139 students, 71% FRL).
  • Market conditions: 189 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals lingering (median 47d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 69% 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 34% 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 $415 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

  • It's been on market 47 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

  • Watch-outs: property tax is 4.3% of price; built in 1915 — expect roof / HVAC / electrical / plumbing capex.
Recommended offer $58,199 (3.0% below list)

Questions for the listing agent

  1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
  2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
  3. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
  4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
  5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  6. 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?
  7. 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?
  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
2.41%
Cap rate
18.05%
Cash-on-cash
41.98%
DSCR
2.87
GRM
3.5

CMA / ARV

ARV (median comp)
$117,789
List price
$59,999
Delta
-49.06%
Verdict
UNDERPRICED
Comps
20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
1870 South Ave 0.20mi 3/1.0 1,320 (+6%) 2mo $116,000 $88 80
2189 Seneca Ave 0.17mi 3/1.5 1,125 (-10%) 3mo $130,000 $116 71
1717 Willow Ave 0.51mi 3/2.0 1,262 (+1%) 0mo $95,000 $75 70
2456 South Ave 0.29mi 3/1.0 1,380 (+11%) 4mo $120,000 $87 66
3125 Portland St 0.61mi 3/2.0 1,260 (+1%) 0mo $182,000 $144 66
1824 Pierce Ave 0.50mi 3/1.0 1,152 (-8%) 1mo $69,000 $60 63
1812 Pierce Ave 0.51mi 3/1.0 1,152 (-8%) 2mo $65,000 $56 62
1512 Willow Ave 0.56mi 3/1.0 1,148 (-8%) 2mo $39,300 $34 59
1317 Niagara Ave 0.51mi 2/2.0 (-1) 1,310 (+5%) 3mo $28,000 $21 57
2540 Jerauld Ave 0.34mi 2/1.5 (-1) 1,108 (-11%) 4mo $223,000 $201 55
2485 Willow Ave 0.53mi 3/1.0 1,422 (+14%) 1mo $159,000 $112 52
2710 Pierce Ave 0.59mi 4/1.0 (+1) 1,400 (+12%) 1mo $167,000 $119 46

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
38.7%
Equity multiple
2.66×
Total profit
$27,819
Equity at exit
$8,946
10-year hold
IRR
45.2%
Equity multiple
5.34×
Total profit
$72,861
Equity at exit
$5,188

Cash invested: $16,800 (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.
Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
52 active · 34 under contract
Months of supply
9.8 mo (10%/mo absorbed)
Median asking
$97,450 ($88/sqft)
Median days on market
57 d
This list price
12% of active listings are priced below it
ARV vs active asking
+7.1% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 14305

Home prices YoY
-10.9%
Active inventory
189
Price-to-rent
3.5×

Monthly cashflow live

Estimated rent
$1,444 high interval (Pro) →
Mortgage (P&I)
$315
Tax from tax record
$214 /mo · $2,564/yr
Insurance
$25
HOA
$0
Vacancy / Maint / Mgmt
$303
Net cashflow
$588

Break-even live

Break-even rent $700
Max offer price $59,999
Occupancy floor 54%

Sensitivity live

Price -10% $622 -5% $605 +0% $588 +5% $571 +10% $554
Rent -10% $474 -5% $531 +0% $588 +5% $645 +10% $702
Rate -1.0pp $618 -0.5pp $603 base $588 +0.5pp $572 +1.0pp $556

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
$15,000
Closing costs
$1,800
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 32 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
1817 Ontario Ave Unit 1 Niagara Falls, NY 2.0 1.0 999 $1,899 $1.90 11d 1 0.15mi
1817 Ontario Ave Unit 2 Niagara Falls, NY 2.0 1.0 985 $1,899 $1.93 11d 1 0.15mi
2463 South Ave Niagara Falls, NY 2.0 1.0 1008 $1,100 $1.09 66d 1 0.33mi
1808 Whitney Ave Unit 3 Niagara Falls, NY 2.0 1.0 1200 $900 $0.75 93d 1 0.58mi
2473 Pierce Ave Unit 2 Niagara Falls, NY 2.0 1.0 1000 $1,200 $1.20 52d 1 0.59mi
1533 La Salle Ave Unit Lower Niagara Falls, NY 2.0 1.0 748 $1,100 $1.47 32d 1 0.73mi
2498 Woodlawn Ave Niagara Falls, NY 2.0 1.0 720 $1,150 $1.60 11d 1 0.75mi
1001 17th St Niagara Falls, NY 3.0 1.0 1152 $1,800 $1.56 72d 1 0.78mi
769 19th St Niagara Falls, NY 2.0 1.5 960 $1,400 $1.46 70d 1 0.83mi
2814 10th St Niagara Falls, NY 2.0 1.0 900 $900 $1.00 19d 1 0.86mi
784 15th St Niagara Falls, NY 3.0 1.5 1380 $1,350 $0.98 52d 1 0.88mi
2405 Grand Ave Unit Upper Niagara Falls, NY 2.0 1.0 770 $800 $1.04 32d 1 0.92mi
754 15th St Niagara Falls, NY 3.0 1.0 990 $1,100 $1.11 72d 1 0.95mi
1192 Haeberle Ave Niagara Falls, NY 2.0 1.0 920 $1,300 $1.41 35d 1 1.02mi
562 19th St Niagara Falls, NY 3.0 1.5 1200 $1,395 $1.16 19d 1 1.10mi
613 13th St Unit 1 Niagara Falls, NY 2.0 1.0 750 $900 $1.20 35d 1 1.18mi
642 Ashland Ave Niagara Falls, NY 3.0 1.0 1238 $1,100 $0.89 52d 1 1.25mi
455 24th St Unit 2 Niagara Falls, NY 2.0 1.0 850 $1,200 $1.41 35d 1 1.33mi
434 23rd St Unit Upper Niagara Falls, NY 2.0 1.0 816 $1,100 $1.35 63d 1 1.34mi
456 27th St Niagara Falls, NY 3.0 1.0 1058 $1,500 $1.42 25d 1 1.35mi
700 Pine Ave Unit 1 Niagara Falls, NY 3.0 1.0 1275 $1,395 $1.09 11d 1 1.35mi
724 Augustus Pl Niagara Falls, NY 4.0 1.0 1200 $1,500 $1.25 93d 1 1.35mi
420 18th St Unit Upper Niagara Falls, NY 2.0 1.0 816 $1,150 $1.41 93d 1 1.38mi
1427 Fort Ave Unit 2 Niagara Falls, NY 3.0 1.0 1058 $950 $0.90 93d 1 1.38mi
420 25th St Niagara Falls, NY 3.0 1.0 1101 $1,500 $1.36 93d 1 1.39mi
3023 Livingston Ave Niagara Falls, NY 4.0 1.0 1200 $1,500 $1.25 41d 1 1.40mi
3534 Ferry Ave Niagara Falls, NY 3.0 1.0 1304 $1,300 $1.00 15d 1 1.41mi
616 7th St Niagara Falls, NY 2.0 1.0 770 $1,150 $1.49 72d 1 1.43mi
616 7th St Niagara Falls, NY 2.0 1.0 770 $1,150 $1.49 17d 1 1.43mi
2727 Monroe Ave Niagara Falls, NY 3.0 1.0 960 $1,500 $1.56 59d 1 1.44mi
1793 Welch Ave Unit Upper Niagara Falls, NY 2.0 1.0 802 $1,000 $1.25 47d 1 1.48mi
1761 Welch Ave Unit Upper Niagara Falls, NY 2.0 1.0 988 $1,000 $1.01 19d 1 1.49mi

Property features AI

Exterior

Parking
No garage
Utilities
Electricity connected (fuses)Public water connectedSewer connected
Home design
2-story existing homeBlock foundationVinyl siding
Construction
Vinyl siding constructionBlock foundationBuilt as an existing structure (year built details: existing)
Exterior features
Blacktop drivewayNear public transitRectangular residential lotCity street frontageLot dimensions approximately 40 x 131

Interior

Kitchen
Eat-in kitchen
Bedrooms
Total of 6 rooms including living spaces (bedroom count not specified)
Flooring
HardwoodLaminateVaries
Bathrooms
1 full bathroom
Heating & cooling
Gas forced-air heating
Interior features
Ceiling fan(s)Separate/formal dining roomEntrance foyerEat-in kitchenSeparate/formal living roomHardwood, laminate and varied flooring
Laundry & utility
Laundry located in the basementGas water heater

Listing history 22 events

  1. 2026-06-29
    days on market $59,999 Active 47 DOM
  2. 2026-06-28
    days on market $59,999 Active 46 DOM
  3. 2026-06-27
    days on market $59,999 Active 45 DOM
  4. 2026-06-27
    days on market $59,999 Active 44 DOM
  5. 2026-06-25
    days on market $59,999 Active 42 DOM
  6. 2026-06-22
    days on market $59,999 Active 40 DOM
  7. 2026-06-21
    days on market $59,999 Active 39 DOM
  8. 2026-06-18
    days on market $59,999 Active 36 DOM
  9. 2026-06-17
    days on market $59,999 Active 35 DOM
  10. 2026-06-16
    days on market $59,999 Active 34 DOM
  11. 2026-06-15
    days on market $59,999 Active 33 DOM
  12. 2026-06-13
    days on market $59,999 Active 31 DOM
  13. 2026-06-13
    days on market $59,999 Active 30 DOM
  14. 2026-06-10
    days on market $59,999 Active 28 DOM
  15. 2026-06-09
    days on market $59,999 Active 27 DOM
  16. 2026-06-08
    days on market $59,999 Active 26 DOM
  17. 2026-06-07
    days on market $59,999 Active 25 DOM
  18. 2026-06-03
    days on market $59,999 Active 21 DOM
  19. 2026-06-02
    days on market $59,999 Active 20 DOM
  20. 2026-06-01
    days on market $59,999 Active 19 DOM
  21. 2026-05-31
    days on market $59,999 Active 18 DOM
  22. 2026-05-13
    listed $64,999 Active 532-char remark

ⓘ 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
$2,564 · $214/mo
Projected year-2 tax
$2,564 · $214/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 · 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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$17,333
− Mortgage interest
−$3,361
− Property taxes
−$2,564
− Insurance
−$300
− Repairs & maintenance
−$1,387
− Management
−$1,387
− Depreciation
−$1,745
Taxable income
$6,589
combined federal + state — saved on this device
Est. tax owed @ 24.0%
−$1,581
After-tax cash flow
$5,472/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab Est. rehab $31,200–$56,160 screening

This 3-bedroom, 1-bath home in Niagara Falls requires significant renovation and updates to bring it up to current standards. The property is in fair condition but presents a substantial opportunity for investors and flippers to increase its value through comprehensive renovations.

Components & finishes AI

Roof asphalt shingle · good

Deferred maintenance Est. $2,500–$10,000 screening

  • Minor Roof (roof) — No visible signs of damage or wear on the roof.
  • Minor Windows (windows) — No visible signs of damage or wear on the windows.
  • Minor Electrical (electrical) — No visible signs of damage or wear on the electrical components.
  • Minor Plumbing (plumbing) — No visible signs of damage or wear on the plumbing.
  • Minor Exterior (exterior) — No visible signs of damage or wear on the exterior.

Repairs flagged

  • Major roof — Signs of wear and discoloration indicate a need for a new roof.
  • Moderate exterior siding — Some signs of wear and discoloration suggest a need for repainting or minor repairs.
  • Minor exterior fencing — Some signs of wear suggest a need for minor repairs or repainting.
  • Major interior walls and paint — Visible wear and discoloration indicate a need for repainting and possibly wall repairs.
  • Major kitchen and bathrooms — Outdated finishes and signs of wear suggest a need for full updates.
  • Major flooring — Old and possibly in need of replacement, indicating a need for new flooring.
  • Major HVAC and mechanical systems — Outdated and possibly in need of replacement or repair, indicating a need for updates.
  • Major landscaping and curb appeal — Sparse vegetation and overgrown areas suggest a need for significant landscaping and curb appeal improvements.
  • Fair interior foundation and structure — No visible signs of major structural issues, but some wear suggests a need for routine maintenance and possibly minor repairs.

Value-add opportunities

  • Both new roof — A new roof will improve the home's appearance and increase its value for both resale and rental.
  • Both exterior siding and fencing repairs — Repainting and repairing the exterior will improve the home's curb appeal and increase its value for both resale and rental.
  • Both paint interior walls and trim — Repainting the interior will improve the home's appearance and increase its value for both resale and rental.
  • Both new kitchen and bathrooms — Updating the kitchen and bathrooms will improve the home's functionality and increase its value for both resale and rental.
  • Both new flooring — Replacing the flooring will improve the home's appearance and increase its value for both resale and rental.
  • Both new HVAC and mechanical systems — Upgrading the HVAC and mechanical systems will improve the home's comfort and energy efficiency and increase its value for both resale and rental.
  • Both landscaping and curb appeal improvements — Landscaping and improving the curb appeal will enhance the home's exterior and increase its value for both resale and rental.
  • Both interior foundation and structure repairs — Routine maintenance and minor repairs will ensure the home's structural integrity and increase its value for both resale and rental.

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 38/100

Zoned Schools

Elementary Hyde Park School F NY #2,024/2,108 Nat'l #36,424/41,679 Middle Gaskill Preparatory School F NY #702/729 Nat'l #12,486/14,009 High Niagara Falls High School A NY #409/1,100 Nat'l #817/17,239

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
C Composite livability gradescore 60/100

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 · 204,149 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
16% of renters

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

Price history

-7.7% since first listed
2 events — show timeline
  • 2026-05-28 Price Changed $59,999 WNYREIS
  • 2026-05-13 Listed $64,999 WNYREIS

Property tax history

+6.7%/yr

Latest (2025): $2,564 · +23.1% YoY. Source: county tax records.

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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