4006 Deveaux St · Niagara Falls, NY 14305

$89,900

3 bd · 1.5 ba · 1,394 sqft · SingleFamily public records · 18 Days on market

Built 1930 5,000 sqft lot Est $156k · 42% under

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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

Adorable 4 bedroom, possibly 5 is perfect for a live in or income property. All this beauty needs is a new furnace, house is currently winterized (priced to sell) cash or rehab loan only. This adorable home has a blacktop driveway, concrete pad in the fenced in backyard, a 2 car garage and a cute front porch. The first floor features an open floor plan with a living room, family room and open kitchen concept along with a full bathroom. Hardwood floors and a nice fireplace. Solid dry basement with laundry. Hot water tank 2021. Second floor features 4 bedrooms and a full bath. Access to a partially finished attic for more space to utilize. This home is priced well below market value for a qui

Key facts

• Blacktop driveway
• Open floor plan
• Concrete pad

Tags

• BLACKTOP DRIVEWAY
• CONCRETE PAD
• FENCED IN BACKYARD
• OPEN FLOOR PLAN
• LIVING ROOM
• FAMILY ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $750 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.3% 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; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• This rent runs 41% 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 $622 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,551 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — 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 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.93% ✓
• Cap rate: 16.31%
• Cash-on-cash: 35.77%
• DSCR: 2.59
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $156,128
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1315 Maple Ave	0.12mi	3/1.0	1,412 (+1%)	2mo	$158,000	$112	89
3915 Deveaux St	0.07mi	3/2.0	1,460 (+5%)	0mo	$120,000	$82	86
4011 Bell St	0.09mi	3/2.0	1,350 (-3%)	4mo	$150,000	$111	85
3742 Mckoon Ave	0.20mi	3/1.5	1,364 (-2%)	6mo	$101,200	$74	82
2830 Macklem Ave	0.58mi	3/2.0	1,372 (-2%)	0mo	$161,000	$117	68
3823 Macklem Ave	0.16mi	4/1.5 (+1)	1,566 (+12%)	2mo	$272,000	$174	65
2946 Mckoon Ave	0.43mi	3/1.5	1,291 (-7%)	4mo	$90,000	$70	64
1112 College Ave	0.08mi	4/2.0 (+1)	1,246 (-11%)	11mo	$165,000	$132	62
2863 Macklem Ave	0.53mi	3/1.0	1,451 (+4%)	6mo	$109,999	$76	61
4233 Crescent Dr	0.30mi	3/1.0	1,275 (-8%)	10mo	$185,000	$145	61
3834 Deveaux St	0.13mi	4/1.0 (+1)	1,184 (-15%)	12mo	$153,000	$129	52
2817 10th St	0.68mi	4/2.0 (+1)	1,456 (+4%)	8mo	$70,000	$48	47

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: 31.5%
• Equity multiple: 2.32×
• Total profit: $33,249
• Equity at exit: $13,404

10-year hold

• IRR: 38.6%
• Equity multiple: 4.60×
• Total profit: $90,598
• Equity at exit: $7,773

Cash invested: $25,172 (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: 4.3×

Monthly cashflow live

• Estimated rent: $1,736 medium
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $750

Break-even live

Break-even rent $786

Max offer price $89,900

Occupancy floor 52%

Sensitivity live

Price	-10% $812	-5% $781	+0% $750	+5% $719	+10% $688
Rent	-10% $613	-5% $682	+0% $750	+5% $819	+10% $888
Rate	-1.0pp $796	-0.5pp $773	base $750	+0.5pp $727	+1.0pp $703

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3025 Macklem Ave Niagara Falls, NY	4.0	1.5	1750	$2,200	$1.26	45d	1	0.39mi
2814 10th St Niagara Falls, NY	2.0	1.0	900	$900	$1.00	2d	1	0.72mi
1817 Ontario Ave Unit 2 Niagara Falls, NY	2.0	1.0	985	$1,899	$1.93	2d	1	1.19mi
1817 Ontario Ave Unit 1 Niagara Falls, NY	2.0	1.0	999	$1,899	$1.90	2d	1	1.19mi

Listing history 6 events

1. 2026-04-10
   status Pending
2. 2026-03-23
   listed $89,900 Active
3. 2026-02-24
   historical
4. 2026-01-13
   price $109,000
5. 2025-11-21
   listed $119,000 Active
6. 2024-03-20
   soldstatus $520,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 14 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: $20,835
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$1,667
• − Management: −$1,667
• − Depreciation: −$2,615
• Taxable income: $8,052
• Est. tax owed @ 24.0%: −$1,933
• After-tax cash flow: $7,072/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

-82.7% since first listed

6 events — show timeline

• 2026-04-10 Pending — WNYREIS
• 2026-03-23 Listed $89,900 WNYREIS
• 2026-02-24 Listing Removed — WNYREIS
• 2026-01-13 Price Changed $109,000 WNYREIS
• 2025-11-21 Listed $119,000 WNYREIS
• 2024-03-20 Sold (Public Records) $520,000 Public Records

Property tax history

+6.3%/yr

Latest (2025): $4,669 · +18.3% YoY. Source: county tax records.