159 Canal St · Lyons, NY 14489

$110,000

5 bd · 2.0 ba · 2,611 sqft · MultiFamily public records · 254 Days on market

Built 1870 4,356 sqft lot $42/sqft · 20% above area Est $99k · 11% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• ARV discount +2.5/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

New roof!!!!! Versatile 2-Family Investment Property in Lyons – Buy Individually or as Part of a Portfolio This 2- family rental offers a fantastic opportunity for investors or owner-occupants alike. Available individually or as part of a combination sale with 100 broad street!

Key facts

• Consistent income
• New roof
• 4,356 sq ft lot

Tags

• NEW ROOF
• 2-FAMILY INVESTMENT PROPERTY
• CONSISTENT INCOME

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $110k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $902/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#270 in NY, #4,307 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, employment D, amenities F.
• Lyons Central School District (town): math 33% / reading 42% proficiency, ranked #549 of 590 in NY (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 27 active listings in the ZIP; 259 units permitted in Wayne County in 2024 (90 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($761 loan paydown + $11k appreciation (10.0% local appreciation)).
• Wayne County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 254 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $8k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 254 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 3.05% ✓
• Cap rate: 25.98%
• Cash-on-cash: 70.30%
• DSCR: 4.13
• GRM: 2.7

CMA / ARV

• ARV (median comp): $99,000
• List price: $110,000
• Delta: 11.11%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24 Queen St	0.45mi	5/2.5	2,482 (-5%)	20mo	$41,900	$17	52

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 81.3%
• Equity multiple: 6.68×
• Total profit: $174,926
• Equity at exit: $99,097

10-year hold

• IRR: 75.6%
• Equity multiple: 14.80×
• Total profit: $424,961
• Equity at exit: $213,706

Cash invested: $30,800 (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 14489

• Home prices YoY: 14.2%
• Active inventory: 27
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $3,350 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$220 /mo · $2,634/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$704
• Net cashflow: $1,804

Break-even live

Break-even rent $1,066

Max offer price $110,000

Occupancy floor 41%

Sensitivity live

Price	-10% $1,867	-5% $1,835	+0% $1,804	+5% $1,773	+10% $1,742
Rent	-10% $1,540	-5% $1,672	+0% $1,804	+5% $1,937	+10% $2,069
Rate	-1.0pp $1,860	-0.5pp $1,832	base $1,804	+0.5pp $1,776	+1.0pp $1,747

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,350
Total (2 units)			$3,350

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $110,000 Active 254 DOM
2. 2026-06-18
   days on market $110,000 Active 252 DOM
3. 2026-06-17
   days on market $110,000 Active 251 DOM
4. 2026-06-16
   days on market $110,000 Active 250 DOM
5. 2026-06-15
   days on market $110,000 Active 249 DOM
6. 2026-06-13
   days on market $110,000 Active 247 DOM
7. 2026-06-12
   days on market $110,000 Active 246 DOM
8. 2026-06-09
   days on market $110,000 Active 243 DOM
9. 2026-06-08
   days on market $110,000 Active 242 DOM
10. 2026-06-07
    days on market $110,000 Active 241 DOM
11. 2026-06-07
    days on market $110,000 Active 240 DOM
12. 2026-06-04
    days on market $110,000 Active 237 DOM
13. 2026-06-02
    days on market $110,000 Active 236 DOM
14. 2026-06-01
    days on market $110,000 Active 235 DOM
15. 2026-05-31
    days on market $110,000 Active 234 DOM
16. 2025-12-22
    price $110,000 284-char remark

    Show marketing remark (284 chars)

    New roof!!!!! Versatile 2-Family Investment Property in Lyons – Buy Individually or as Part of a Portfolio This 2- family rental offers a fantastic opportunity for investors or owner-occupants alike. Available individually or as part of a combination sale with 100 broad street!

17. 2025-10-09
    listed $117,500 Active 284-char remark

    Show marketing remark (284 chars)

    New roof!!!!! Versatile 2-Family Investment Property in Lyons – Buy Individually or as Part of a Portfolio This 2- family rental offers a fantastic opportunity for investors or owner-occupants alike. Available individually or as part of a combination sale with 100 broad street!

18. 2025-10-08
    historical
19. 2025-08-19
    price $117,500
20. 2025-05-27
    listed $119,999 Active
21. 2023-06-12
    soldstatus $397,500
22. 2023-05-31
    soldstatus $55,000 Closed Sale or Rented
23. 2023-03-24
    status Under Contract- Do Not Show
24. 2023-02-13
    listed $55,000 Active
25. 2023-01-20
    soldstatus $424,917
26. 2022-04-18
    soldstatus $50,000
27. 2007-02-07
    soldstatus $20,000

ⓘ 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: $2,634 · $220/mo
• Projected year-2 tax: $2,634 · $220/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 6/10 Major FEMA zone X · 66% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,200
• − Mortgage interest: −$6,162
• − Property taxes: −$2,634
• − Insurance: −$550
• − Repairs & maintenance: −$3,216
• − Management: −$3,216
• − Depreciation: −$3,200
• Taxable income: $21,222
• Est. tax owed @ 24.0%: −$5,093
• After-tax cash flow: $16,558/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: Lyons Central School District
• NCES district ID: 3618030
• Math proficiency: 33% ▲ 4.00%
• Reading proficiency: 42% ▼ -28.00%
• Median HH income: $43,076
• Composite: 31.73/100
• National rank: #5909
• State rank: #549 of 590 in NY

Livability — Lyons

• Score: 75/100
• State rank: #270
• US rank: #4307

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lyons, NY
• Population (ZIP): 7,016

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 85,662 people
• By 2030: 81,945 · -4.3%
• By 2040: 73,735 · -13.9%
• By 2050: 65,029 · -24.1%
• By 2075: 47,451 · -44.6%
• By 2100: 31,574 · -63.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 8% Two or more races 7% Black 2%
• Hispanic origin (detail): Puerto Rican 7%
• Common ancestry: Iranian 8% Romanian 5% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 90% English-only · German/W. Germanic 7% Spanish 3% Russian/Polish/Slavic 1%

Political lean MEDSL · Wayne

• 2024 margin: Strong R (+23.1) · D 38.5% · R 61.5%
• 2008→2024 swing: -13.2pp toward R · 2008: -9.9pp · 2024: -23.1pp
• All cycles: 2024: R+23.1 2020: R+19.6 2016: R+26.1 2012: R+9.3 2008: R+9.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 38.65%
• Current HPI: 311.1445
• Rent YoY: —
• Metro: —
• 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

+450.0% since first listed

12 events — show timeline

• 2025-12-22 Price Changed $110,000 UNYREIS
• 2025-10-09 Listed $117,500 UNYREIS
• 2025-10-08 Listing Removed — UNYREIS
• 2025-08-19 Price Changed $117,500 UNYREIS
• 2025-05-27 Listed $119,999 UNYREIS
• 2023-06-12 Sold (Public Records) $397,500 Public Records
• 2023-05-31 Sold (MLS) $55,000 UNYREIS
• 2023-03-24 Pending — UNYREIS
• 2023-02-13 Listed $55,000 UNYREIS
• 2023-01-20 Sold (Public Records) $424,917 Public Records
• 2022-04-18 Sold (Public Records) $50,000 Public Records
• 2007-02-07 Sold (Public Records) $20,000 Public Records

Property tax history

-2.0%/yr

Latest (2025): $2,634 · -8.1% YoY. Source: county tax records.