23 Ransom St · North Tonawanda, NY 14120

$144,900

3 bd · 1.5 ba · 1,420 sqft · SingleFamily public records · 50 Days on market

Built 1880 4,200 sqft lot $102/sqft · 37% below area Est $230k · 37% under

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Why this score? — see what drove the C+ 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 +21.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Schools +4.2/10.0
• Livability +4.2/5.0
• Rent growth +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 23 Ransom nestled on a quiet side street in the heart of North Tonawanda. This 3 bedroom 2 full bathroom home offers a perfect layout at an affordable price. With 1 bedroom and full bathroom downstairs, a generous sized living room, formal dining room with new luxury vinyl floors, large eat in kitchen with included appliances, a large laundry room and mudroom which finish off the first floor layout. Dishwasher was newly installed in 2025. Washer and dryer are also included. Upstairs you'll find 2 additional generous sized bedrooms along with the 2nd full bathroom that was newly installed in 2026. The walk in attic with plenty of storage completes the second floor. Enjoy your cove

Key facts

• Covered front porch
• Large eat in kitchen
• Walk in attic

Tags

• QUIET SIDE STREET
• LARGE EAT IN KITCHEN
• COVERED FRONT PORCH
• FULLY FENCED YARD
• WALK IN ATTIC
• CENTRAL A C

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected; Electric service with circuit breakers
• Home design: Two-story home; Existing construction
• Construction: Vinyl siding; Copper plumbing; Asphalt roof; Stone foundation; Built (existing structure)
• Exterior features: Covered porch and deck; Fully fenced yard; Gravel driveway; Near public transit; Rectangular residential lot (30 x 140)

Interior

• Kitchen: Gas range; Gas oven; Dishwasher; Refrigerator; Eat-in kitchen
• Bedrooms: One main-level bedroom
• Flooring: Carpet; Laminate; Varies
• Bathrooms: Two full bathrooms; One bathroom on the main level
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Separate/formal dining room; Eat-in kitchen; Window treatments (drapes); Bedroom on main level; Has basement (full; crawl space; dirt floor)
• Laundry & utility: Washer and dryer on main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $209 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 4.0% in North Tonawanda — 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 85/100 on livability (#30 in NY, #518 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+.
• North Tonawanda City School District (suburban): math 42% / reading 57% proficiency, ranked #398 of 590 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.0%/yr); 178 active listings in the ZIP; 11 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 + 6.0% rent growth), your $41k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($141k) 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.
• Current owner paid $58k; list at $145k implies a 149% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,553 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 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 1880 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.06% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.19%
• DSCR: 1.28
• GRM: 7.9

CMA / ARV

• ARV (median comp): $230,153
• List price: $144,900
• Delta: -37.04%
• 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
189 Lincoln Ave	0.30mi	3/1.0	1,432 (+1%)	4mo	$231,080	$161	79
421 Stanley St	0.37mi	4/1.5 (+1)	1,420 (0%)	7mo	$220,000	$155	72
425 Wheatfield St	0.32mi	3/2.0	1,536 (+8%)	1mo	$270,000	$176	69
671 Treichler St	0.65mi	3/1.5	1,445 (+2%)	3mo	$300,000	$208	64
223 Schenck St	0.36mi	3/1.0	1,288 (-9%)	2mo	$169,400	$132	64
292 Niagara St	0.16mi	3/2.0	1,620 (+14%)	3mo	$205,000	$127	64
228 Robinson St	0.38mi	3/1.0	1,557 (+10%)	2mo	$198,000	$127	63
508 Bryant St	0.36mi	4/2.0 (+1)	1,552 (+9%)	1mo	$279,700	$180	60
84 Klaum Ave	0.57mi	3/2.0	1,296 (-9%)	5mo	$275,000	$212	53
647 Christiana St	0.63mi	4/1.5 (+1)	1,310 (-8%)	1mo	$220,000	$168	52
129 Dahlgreen Pl	0.75mi	3/1.0	1,570 (+11%)	1mo	$231,000	$147	45
268 Tremont St	0.61mi	3/1.5	1,232 (-13%)	7mo	$225,000	$183	44

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 · 5.96% rent growth · sell at horizon

5-year hold

• IRR: -3.5%
• Equity multiple: 0.87×
• Total profit: $-5,429
• Equity at exit: $21,605

10-year hold

• IRR: 9.3%
• Equity multiple: 1.81×
• Total profit: $33,007
• Equity at exit: $12,528

Cash invested: $40,572 (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 14120

• Rents YoY: 6.0%
• Active inventory: 178
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,531 high
• Mortgage (P&I): −$760
• Tax from tax record: −$180 /mo · $2,160/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $209

Break-even live

Break-even rent $1,266

Max offer price $144,900

Occupancy floor 81%

Sensitivity live

Price	-10% $291	-5% $250	+0% $209	+5% $168	+10% $127
Rent	-10% $88	-5% $149	+0% $209	+5% $270	+10% $330
Rate	-1.0pp $282	-0.5pp $246	base $209	+0.5pp $172	+1.0pp $134

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
166 Spruce St Unit 5 North Tonawanda, NY	2.0	1.0	1000	$1,300	$1.30	24d	1	0.63mi
125 3rd Ave North Tonawanda, NY	2.0	1.0	900	$1,100	$1.22	44d	1	0.68mi
330 E Niagara St Tonawanda, NY	1.0–2.0	1.0–2.0	975	$1,900	$1.95	2d	1	0.85mi
184 Sweeney St North Tonawanda, NY	2.0	2.0	1155	$2,000	$1.73	2d	1	0.85mi
900 E Robinson St North Tonawanda, NY	2.0	1.0	900	$1,350	$1.50	2d	1	0.91mi
50 7th Ave North Tonawanda, NY	2.0	1.0	1576	$1,500	$0.95	2d	1	0.96mi
600 River Rd North Tonawanda, NY	1.0–3.0	1.0–2.5	1320	$4,995	$3.78	2d	12	0.99mi
175 12th Ave North Tonawanda, NY	3.0	1.0	1000	$1,600	$1.60	44d	1	1.07mi
757 Remington Dr Unit 1 North Tonawanda, NY	3.0	1.5	1100	$1,750	$1.59	11d	1	1.34mi
86 Scott St Tonawanda, NY	2.0	1.0	1584	$1,450	$0.92	2d	1	1.36mi
60 Fredericka St North Tonawanda, NY	2.0	1.0	1200	$1,425	$1.19	15d	1	1.48mi

Listing history 16 events

1. 2026-06-18
   days on market $144,900 Active 50 DOM
2. 2026-06-17
   days on market $144,900 Active 49 DOM
3. 2026-06-16
   statusdays on market $144,900 Active 48 DOM
4. 2026-06-15
   days on market $144,900 Active Under Contract 47 DOM
5. 2026-06-13
   statusdays on market $144,900 Active Under Contract 45 DOM
6. 2026-06-10
   days on market $144,900 Active 42 DOM
7. 2026-06-09
   days on market $144,900 Active 41 DOM
8. 2026-06-08
   days on market $144,900 Active 40 DOM
9. 2026-06-07
   days on market $144,900 Active 39 DOM
10. 2026-06-03
    days on market $144,900 Active 35 DOM
11. 2026-06-02
    days on market $144,900 Active 34 DOM
12. 2026-06-01
    days on market $144,900 Active 33 DOM
13. 2026-05-31
    days on market $144,900 Active 32 DOM
14. 2026-04-29
    listed $149,900 Active 1353-char remark
15. 2006-08-08
    soldstatus $58,300
16. 2000-05-08
    soldstatus $30,000

ⓘ 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: $2,160 · $180/mo
• Projected year-2 tax: $2,304 · $192/mo
• Expected delta: +$144/yr (+$12/mo · 6.7%)

ⓘ 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 ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,373
• − Mortgage interest: −$8,117
• − Property taxes: −$2,160
• − Insurance: −$724
• − Repairs & maintenance: −$1,470
• − Management: −$1,470
• − Depreciation: −$4,215
• Taxable income: $217
• Est. tax owed @ 24.0%: −$52
• After-tax cash flow: $2,460/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: North Tonawanda City School District
• NCES district ID: 3621240
• Math proficiency: 42% ▼ -16.00%
• Reading proficiency: 57% ▲ 4.00%
• Median HH income: $48,348
• Composite: 42.15/100
• National rank: #3301
• State rank: #398 of 590 in NY

Livability — North Tonawanda

• Score: 85/100
• State rank: #30
• US rank: #518

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Tonawanda, NY
• County: Niagara County · 157,377 people
• City population: 44,241
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 44,241
• Household income: $74,871
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 1303.0

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: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Black 2%
• Common ancestry: Romanian 15% Lithuanian 2% Slovak 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Russian/Polish/Slavic 2% Spanish 1% 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: ▼ -260.39%
• Current HPI: 303.1744
• Rent YoY: ▲ 5.96%
• 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

+383.0% since first listed

6 events — show timeline

• 2026-06-16 Relisted — WNYREIS
• 2026-06-12 Contingent — WNYREIS
• 2026-05-27 Price Changed $144,900 WNYREIS
• 2026-04-29 Listed $149,900 WNYREIS
• 2006-08-08 Sold (Public Records) $58,300 Public Records
• 2000-05-08 Sold (Public Records) $30,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $2,160 · +2.1% YoY. Source: county tax records.