247 Clinton St · Lockport, NY 14094

$154,900

6 bd · 2.0 ba · 2,554 sqft · MultiFamily public records · 55 Days on market

Built 1900 6,098 sqft lot Est $140k · 10% 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
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• ARV discount +2.9/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Showings start 2/22 from 4:00 pm - 6:00 pm and offers, if any, due 2/25 by 5 PM. Diligently maintained this 3/3 double offers excellent investment opportunity! The Upper 3 bedroom unit includes a balcony, newer toilet and tub surround, carpeting and in-unit laundry. The lower unit features 3 bedrooms, vinyl plank flooring throughout, newer tub surround, in-unit laundry, and an updated kitchen with newer countertops. This home also includes a detached 2 car garage which can generate additional rental income. This property is currently tenant occupied and receiving $1,650/month in total rents. The opportunity only gets better as this property is being sold with the property next door 245 Clinton Street. Don't wait to add these three units to your investment portfolio!

Key facts

• Enclosed side porch
• Large lot
• Updated kitchen

Tags

• LARGE LOT
• SEPARATE ENTRANCES
• RECENTLY RENOVATED
• UPDATED KITCHEN
• ENCLOSED SIDE PORCH
• ENCLOSED FRONT PORCH

Property features AI

Finance

• Other: Multi-unit property with 2 units in the community (building is part of a 22-unit complex); Separate gas and electric meters for each of the 2 units
• Financial info: Owner pays water and trash collection; Rent includes water and trash collection; Operating expenses include accounting, insurance, legal, professional management, and water/sewer
• HOA & community: Trails/paths in the community

Exterior

• Parking: Common parking; Gravel parking available; Detached 2-car garage (building has a garage with 2 spaces)
• Utilities: Public water connected; Sewer connected; Electric service with circuit breakers
• Home design: 2-story building; Existing structure; Main thoroughfare frontage
• Construction: Fiber cement siding; Copper plumbing; Shingle roof; Stone foundation; Resale condition
• Exterior features: Open porch; Enclosed porch; Partial fencing; Fence

Interior

• Kitchen: Eat-in kitchen in units
• Bedrooms: Two 3-bedroom units (each unit has 3 bedrooms)
• Flooring: Carpet; Luxury vinyl; Resilient flooring; Varied flooring types
• Bathrooms: Units each have 1 full bathroom; Building has 2 full bathrooms total
• Heating & cooling: Gas forced-air heating; Has heating
• Interior features: Enclosed porch; Porch; Eat-in kitchen; Formal dining room; Living room
• Laundry & utility: Washer hookup; Laundry in one unit (laundry-in unit)

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $155k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $155k).
• Recommended offer: $150k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.7% vs local median 4.5% in Lockport — 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 76/100 on livability (#232 in NY, #3,669 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute D+, crime F, employment D-.
• Lockport City School District (town): math 44% / reading 49% proficiency, ranked #452 of 590 in NY (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.7%/yr); 357 active listings in the ZIP; solid renter incomes; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• At $3,565/mo this rent would consume 57% of the median local household income ($75k/yr) (locally 1112% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 3.7% rent growth), your $43k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $35k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; list at $155k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,253 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 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 1900 — 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. 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?
6. 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.
7. 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.
8. 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: 2.30% ✓
• Cap rate: 19.67%
• Cash-on-cash: 47.78%
• DSCR: 3.13
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $140,470
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
233 Lock St	0.40mi	7/2.0 (+1)	2,736 (+7%)	10mo	$136,000	$50	56
274 Gooding St	0.36mi	6/3.0	2,704 (+6%)	21mo	$150,000	$55	52
247 Lock St	0.40mi	5/3.0 (-1)	2,240 (-12%)	6mo	$187,000	$83	47
250 East Ave	0.52mi	6/3.0	2,902 (+14%)	16mo	$90,000	$31	36

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 · 3.67% rent growth · sell at horizon

5-year hold

• IRR: 46.0%
• Equity multiple: 3.01×
• Total profit: $87,381
• Equity at exit: $23,096

10-year hold

• IRR: 52.1%
• Equity multiple: 6.26×
• Total profit: $228,057
• Equity at exit: $13,393

Cash invested: $43,372 (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 14094

• Rents YoY: 3.7%
• Active inventory: 357
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $3,565 medium
• Mortgage (P&I): −$812
• Tax from tax record: −$212 /mo · $2,549/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$749
• Net cashflow: $1,727

Break-even live

Break-even rent $1,379

Max offer price $154,900

Occupancy floor 47%

Sensitivity live

Price	-10% $1,815	-5% $1,771	+0% $1,727	+5% $1,683	+10% $1,639
Rent	-10% $1,445	-5% $1,586	+0% $1,727	+5% $1,868	+10% $2,009
Rate	-1.0pp $1,805	-0.5pp $1,766	base $1,727	+0.5pp $1,687	+1.0pp $1,646

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$3,564
Total (3 units)			$3,565

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $154,900 Active 55 DOM
2. 2026-06-17
   days on market $154,900 Active 54 DOM
3. 2026-06-16
   days on market $154,900 Active 53 DOM
4. 2026-06-15
   days on market $154,900 Active 52 DOM
5. 2026-06-13
   days on market $154,900 Active 50 DOM
6. 2026-06-13
   days on market $154,900 Active 49 DOM
7. 2026-06-10
   days on market $154,900 Active 47 DOM
8. 2026-06-09
   days on market $154,900 Active 46 DOM
9. 2026-06-08
   days on market $154,900 Active 45 DOM
10. 2026-06-07
    days on market $154,900 Active 44 DOM
11. 2026-06-05
    days on market $154,900 Active 41 DOM
12. 2026-06-03
    days on market $154,900 Active 40 DOM
13. 2026-06-02
    days on market $154,900 Active 39 DOM
14. 2026-06-01
    days on market $154,900 Active 38 DOM
15. 2026-05-31
    days on market $154,900 Active 37 DOM
16. 2026-05-14
    price $154,900
17. 2026-04-24
    listed $189,900 Active
18. 2021-07-01
    soldstatus $85,000
19. 2021-06-24
    soldstatus $85,000 Closed Sale or Rented 776-char remark

    Show marketing remark (776 chars)

    Showings start 2/22 from 4:00 pm - 6:00 pm and offers, if any, due 2/25 by 5 PM. Diligently maintained this 3/3 double offers excellent investment opportunity! The Upper 3 bedroom unit includes a balcony, newer toilet and tub surround, carpeting and in-unit laundry. The lower unit features 3 bedrooms, vinyl plank flooring throughout, newer tub surround, in-unit laundry, and an updated kitchen with newer countertops. This home also includes a detached 2 car garage which can generate additional rental income. This property is currently tenant occupied and receiving $1,650/month in total rents. The opportunity only gets better as this property is being sold with the property next door 245 Clinton Street. Don't wait to add these three units to your investment portfolio!

20. 2021-03-19
    status Pending Sale 776-char remark

    Show marketing remark (776 chars)

    Showings start 2/22 from 4:00 pm - 6:00 pm and offers, if any, due 2/25 by 5 PM. Diligently maintained this 3/3 double offers excellent investment opportunity! The Upper 3 bedroom unit includes a balcony, newer toilet and tub surround, carpeting and in-unit laundry. The lower unit features 3 bedrooms, vinyl plank flooring throughout, newer tub surround, in-unit laundry, and an updated kitchen with newer countertops. This home also includes a detached 2 car garage which can generate additional rental income. This property is currently tenant occupied and receiving $1,650/month in total rents. The opportunity only gets better as this property is being sold with the property next door 245 Clinton Street. Don't wait to add these three units to your investment portfolio!

21. 2021-02-28
    status Under Contract- Do Not Show 776-char remark

    Show marketing remark (776 chars)

    Showings start 2/22 from 4:00 pm - 6:00 pm and offers, if any, due 2/25 by 5 PM. Diligently maintained this 3/3 double offers excellent investment opportunity! The Upper 3 bedroom unit includes a balcony, newer toilet and tub surround, carpeting and in-unit laundry. The lower unit features 3 bedrooms, vinyl plank flooring throughout, newer tub surround, in-unit laundry, and an updated kitchen with newer countertops. This home also includes a detached 2 car garage which can generate additional rental income. This property is currently tenant occupied and receiving $1,650/month in total rents. The opportunity only gets better as this property is being sold with the property next door 245 Clinton Street. Don't wait to add these three units to your investment portfolio!

22. 2021-02-18
    status Active 776-char remark

    Show marketing remark (776 chars)

    Showings start 2/22 from 4:00 pm - 6:00 pm and offers, if any, due 2/25 by 5 PM. Diligently maintained this 3/3 double offers excellent investment opportunity! The Upper 3 bedroom unit includes a balcony, newer toilet and tub surround, carpeting and in-unit laundry. The lower unit features 3 bedrooms, vinyl plank flooring throughout, newer tub surround, in-unit laundry, and an updated kitchen with newer countertops. This home also includes a detached 2 car garage which can generate additional rental income. This property is currently tenant occupied and receiving $1,650/month in total rents. The opportunity only gets better as this property is being sold with the property next door 245 Clinton Street. Don't wait to add these three units to your investment portfolio!

23. 2021-02-13
    status Under Contract- Do Not Show 776-char remark

    Show marketing remark (776 chars)

    Showings start 2/22 from 4:00 pm - 6:00 pm and offers, if any, due 2/25 by 5 PM. Diligently maintained this 3/3 double offers excellent investment opportunity! The Upper 3 bedroom unit includes a balcony, newer toilet and tub surround, carpeting and in-unit laundry. The lower unit features 3 bedrooms, vinyl plank flooring throughout, newer tub surround, in-unit laundry, and an updated kitchen with newer countertops. This home also includes a detached 2 car garage which can generate additional rental income. This property is currently tenant occupied and receiving $1,650/month in total rents. The opportunity only gets better as this property is being sold with the property next door 245 Clinton Street. Don't wait to add these three units to your investment portfolio!

24. 2021-02-08
    listed $85,000 Active 776-char remark

    Show marketing remark (776 chars)

    Showings start 2/22 from 4:00 pm - 6:00 pm and offers, if any, due 2/25 by 5 PM. Diligently maintained this 3/3 double offers excellent investment opportunity! The Upper 3 bedroom unit includes a balcony, newer toilet and tub surround, carpeting and in-unit laundry. The lower unit features 3 bedrooms, vinyl plank flooring throughout, newer tub surround, in-unit laundry, and an updated kitchen with newer countertops. This home also includes a detached 2 car garage which can generate additional rental income. This property is currently tenant occupied and receiving $1,650/month in total rents. The opportunity only gets better as this property is being sold with the property next door 245 Clinton Street. Don't wait to add these three units to your investment portfolio!

25. 2004-01-20
    soldstatus $37,000

ⓘ 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: $2,549 · $212/mo
• Projected year-2 tax: $2,584 · $215/mo
• Expected delta: +$34/yr (+$3/mo · 1.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥95°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: $42,780
• − Mortgage interest: −$8,677
• − Property taxes: −$2,549
• − Insurance: −$774
• − Repairs & maintenance: −$3,422
• − Management: −$3,422
• − Depreciation: −$4,506
• Taxable income: $19,428
• Est. tax owed @ 24.0%: −$4,663
• After-tax cash flow: $16,062/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: Lockport City School District
• NCES district ID: 3617670
• Math proficiency: 44% ▼ -7.00%
• Reading proficiency: 49% ▲ 3.00%
• Median HH income: $43,793
• Composite: 39.28/100
• National rank: #3997
• State rank: #452 of 590 in NY

Livability — Lockport

• Score: 76/100
• State rank: #232
• US rank: #3669

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lockport, NY
• County: Niagara County · 157,377 people
• City population: 50,153
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 50,153
• Household income: $75,427
• Rent vs Own: 28.1% rent · 71.9% own
• Severe rent burden: 1112.0

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 (84%)
• Race & ethnicity: White 84% Two or more races 6% Black 6% Hispanic / Latino 3%
• Common ancestry: Romanian 9% Slovak 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 1% Russian/Polish/Slavic 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: ▼ -262.57%
• Current HPI: 303.6109
• Rent YoY: ▲ 3.67%
• 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

+318.6% since first listed

10 events — show timeline

• 2026-05-14 Price Changed $154,900 WNYREIS
• 2026-04-24 Listed $189,900 WNYREIS
• 2021-07-01 Sold (Public Records) $85,000 Public Records
• 2021-06-24 Sold (MLS) $85,000 WNYREIS
• 2021-03-19 Pending — WNYREIS
• 2021-02-28 Pending — WNYREIS
• 2021-02-18 Relisted — WNYREIS
• 2021-02-13 Pending — WNYREIS
• 2021-02-08 Listed $85,000 WNYREIS
• 2004-01-20 Sold (Public Records) $37,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $2,549 · +3.1% YoY. Source: county tax records.