2204 Ontario Ave · Niagara Falls, NY 14305

$59,999

3 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 39 Days on market

Built 1915 5,240 sqft lot $48/sqft · 48% below area Est $116k · 48% under ↓ 8% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

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 38 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Electricity connected (fuses); Public water connected; Sewer connected
• Home design: 2-story existing home; Block foundation; Vinyl siding
• Construction: Vinyl siding construction; Block foundation; Built as an existing structure (year built details: existing)
• Exterior features: Blacktop driveway; Near public transit; Rectangular residential lot; City street frontage; Lot dimensions approximately 40 x 131

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Total of 6 rooms including living spaces (bedroom count not specified)
• Flooring: Hardwood; Laminate; Varies
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Ceiling fan(s); Separate/formal dining room; Entrance foyer; Eat-in kitchen; Separate/formal living room; Hardwood, laminate and varied flooring
• Laundry & utility: Laundry located in the basement; Gas water heater

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $631 ($8k/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 18.9% vs local median 7.5% 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: 142 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% 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 39 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 39 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 1915 — 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. 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.
8. 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.
9. 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: 2.50% ✓
• Cap rate: 18.91%
• Cash-on-cash: 45.05%
• DSCR: 3.00
• GRM: 3.3

CMA / ARV

• ARV (median comp): $115,627
• List price: $59,999
• Delta: -48.11%
• 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
1852 Ontario Ave	0.10mi	3/1.0	1,273 (+2%)	3mo	$85,000	$67	90
1870 South Ave	0.20mi	3/1.0	1,320 (+6%)	0mo	$116,000	$88	81
2189 Seneca Ave	0.17mi	3/1.5	1,125 (-10%)	2mo	$130,000	$116	73
2456 South Ave	0.29mi	3/1.0	1,380 (+11%)	2mo	$120,000	$87	67
1812 Pierce Ave	0.51mi	3/1.0	1,152 (-8%)	0mo	$65,000	$56	63
2434 Weston Ave	0.30mi	3/1.0	1,400 (+12%)	4mo	$170,000	$121	62
3213 Niagara Ave	0.62mi	3/1.0	1,202 (-4%)	4mo	$180,000	$150	62
1512 Willow Ave	0.56mi	3/1.0	1,148 (-8%)	0mo	$39,300	$34	60
1317 Niagara Ave	0.51mi	2/2.0 (-1)	1,310 (+5%)	1mo	$28,000	$21	58
2540 Jerauld Ave	0.34mi	2/1.5 (-1)	1,108 (-11%)	2mo	$223,000	$201	56
1307 Michigan Ave	0.62mi	3/1.5	1,330 (+7%)	4mo	$41,000	$31	54
2902 Linwood Ave	0.58mi	3/1.0	1,376 (+10%)	4mo	$180,000	$131	53

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: 42.2%
• Equity multiple: 2.82×
• Total profit: $30,555
• Equity at exit: $8,946

10-year hold

• IRR: 48.4%
• Equity multiple: 5.69×
• Total profit: $78,770
• 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.

Methodology + full state rankings →

ZIP-level market 14305

• Home prices YoY: -10.9%
• Active inventory: 142
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,499 high
• Mortgage (P&I): −$315
• Tax from tax record: −$214 /mo · $2,564/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $631

Break-even live

Break-even rent $700

Max offer price $59,999

Occupancy floor 53%

Sensitivity live

Price	-10% $665	-5% $648	+0% $631	+5% $614	+10% $597
Rent	-10% $512	-5% $572	+0% $631	+5% $690	+10% $749
Rate	-1.0pp $661	-0.5pp $646	base $631	+0.5pp $615	+1.0pp $599

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: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1817 Ontario Ave Unit 2 Niagara Falls, NY	2.0	1.0	985	$1,899	$1.93	3d	1	0.15mi
1817 Ontario Ave Unit 1 Niagara Falls, NY	2.0	1.0	999	$1,899	$1.90	3d	1	0.15mi
2463 South Ave Niagara Falls, NY	2.0	1.0	1008	$1,100	$1.09	18d	1	0.33mi
1808 Whitney Ave Unit 3 Niagara Falls, NY	2.0	1.0	1200	$900	$0.75	45d	1	0.58mi
2473 Pierce Ave Unit 2 Niagara Falls, NY	2.0	1.0	1000	$1,200	$1.20	4d	1	0.59mi
1001 17th St Niagara Falls, NY	3.0	1.0	1152	$1,800	$1.56	25d	1	0.78mi
769 19th St Niagara Falls, NY	2.0	1.5	960	$1,400	$1.46	22d	1	0.83mi
2814 10th St Niagara Falls, NY	2.0	1.0	900	$900	$1.00	3d	1	0.86mi
784 15th St Niagara Falls, NY	3.0	1.5	1380	$1,350	$0.98	4d	1	0.88mi
754 15th St Niagara Falls, NY	3.0	1.0	990	$1,100	$1.11	25d	1	0.95mi
613 13th St Unit 1 Niagara Falls, NY	2.0	1.0	750	$1,100	$1.47	18d	1	1.18mi
642 Ashland Ave Niagara Falls, NY	3.0	1.0	1238	$1,100	$0.89	4d	1	1.25mi
434 23rd St Unit Upper Niagara Falls, NY	2.0	1.0	816	$1,100	$1.35	16d	1	1.34mi
724 Augustus Pl Niagara Falls, NY	4.0	1.0	1200	$1,500	$1.25	45d	1	1.35mi
420 18th St Unit Upper Niagara Falls, NY	2.0	1.0	816	$1,150	$1.41	45d	1	1.38mi
1427 Fort Ave Unit 2 Niagara Falls, NY	3.0	1.0	1058	$950	$0.90	45d	1	1.38mi
420 25th St Niagara Falls, NY	3.0	1.0	1101	$1,500	$1.36	45d	1	1.39mi
616 7th St Niagara Falls, NY	2.0	1.0	770	$1,150	$1.49	25d	1	1.43mi
2727 Monroe Ave Niagara Falls, NY	3.0	1.0	960	$1,500	$1.56	11d	1	1.44mi

Listing history 16 events

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

Taxation est. · year 1

• Rental income: $17,985
• − Mortgage interest: −$3,361
• − Property taxes: −$2,564
• − Insurance: −$300
• − Repairs & maintenance: −$1,439
• − Management: −$1,439
• − Depreciation: −$1,745
• Taxable income: $7,137
• Est. tax owed @ 24.0%: −$1,713
• After-tax cash flow: $5,856/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): 16,696
• Household income: $51,004
• Rent vs Own: 38.4% rent · 61.6% own
• Severe rent burden: 1095.0

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 0.63)
• 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: —

Market trends

• HPI YoY: ▼ -43.08%
• Current HPI: 350.8741
• 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

-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.