🏷️ Likely Rental
247 Clinton St · Lockport, NY
Flood risk 1/10 · Minimal
- FEMA flood zone
- X (unshaded)
- Chance of flooding over 30 yrs
- 0.0%
- Est. flood insurance / yr
- $473 – $860
Fire risk 1/10 · Minimal
- Est. fire insurance / yr
- $691 – $1,283
Heat risk 2/10 · Minimal
- Hot days now (above 95°F)
- 7 days/yr
- Hot days in 30 yrs
- 15 days/yr
Wind risk 1/10 · Minimal
- Chance of severe wind over 30 yrs
- —
Air-quality risk 2/10 · Minimal
- Unhealthy air days now
- 1 days/yr
- Unhealthy air days in 30 yrs
- 2 days/yr
Risk factors via First Street. Map © Google.
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
- Schools +5.4/10.0
- Livability +3.8/5.0
- Rent growth +3.4/5.0
- Condition / age +2.2/5.0
- Appreciation +0.0/10.0
$149,900
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence
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
Neighborhood map
What this means for you Summary
Snapshot
- This is a 6-bed/2.0-bath multifamily listed at $150k. Condition is rated fair.
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 $150k).
- Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
- Cap rate 20.4% vs local median 3.0% 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); 589 active listings in the ZIP; solid renter incomes; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
- At $3,578/mo this rent would consume 57% of the median local household income ($75k/yr) — 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 $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 + 3.7% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
Negotiation context
- It's been on market 79 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
- 3 sale attempts since 5y ago; this cycle's ask has dropped $40k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
- Current owner paid $85k; list at $150k implies a 76% gain — meaningful room to come down on a strong offer.
Risks & watch-outs
- Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
Questions for the listing agent
- It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
- Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
- Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
- Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
- Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
- 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?
- 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?
- 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.
- 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.
- 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
- 2.39% ✓
- Cap rate
- 20.43%
- Cash-on-cash
- 50.48%
- DSCR
- 3.25
- GRM
- 3.5
CMA / ARV
- ARV (median comp)
- $251,248
- List price
- $149,900
- Delta
- -40.34%
- 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 |
|---|---|---|---|---|---|---|---|
| 1 Bewley Pkwy | 0.58mi | 6/2.0 | 2,280 (-11%) | 2mo | $162,500 | $71 | 53 |
| 233 Lock St | 0.40mi | 7/2.0 (+1) | 2,736 (+7%) | 13mo | $136,000 | $50 | 53 |
| 156 Cottage St | 1.07mi | 5/2.0 (-1) | 2,556 (+0%) | 16mo | $145,000 | $57 | 46 |
| 247 Lock St | 0.40mi | 5/3.0 (-1) | 2,240 (-12%) | 9mo | $187,000 | $83 | 44 |
| 77 Oliver St Unit NA | 0.99mi | 6/2.0 | 2,700 (+6%) | 23mo | $126,900 | $47 | 36 |
| 217 Genesee St | 0.83mi | 5/2.0 (-1) | 2,464 (-4%) | 24mo | $87,500 | $36 | 34 |
| 271 Genesee St | 0.82mi | 6/3.0 | 2,700 (+6%) | 21mo | $110,000 | $41 | 34 |
| 250 East Ave | 0.52mi | 6/3.0 | 2,902 (+14%) | 19mo | $90,000 | $31 | 33 |
| 87 Locust St | 0.81mi | 5/3.0 (-1) | 2,208 (-14%) | 3mo | $20,000 | $9 | 31 |
| 152 Elmwood Ave | 0.79mi | 5/2.0 (-1) | 2,952 (+16%) | 10mo | $195,000 | $66 | 27 |
| 35 South St | 0.83mi | 5/3.0 (-1) | 2,070 (-19%) | 17mo | $162,000 | $78 | 17 |
| 45 South St | 0.83mi | 6/3.0 | 2,102 (-18%) | 23mo | $100,000 | $48 | 16 |
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
- IRR
- 49.0%
- Equity multiple
- 3.16×
- Total profit
- $90,661
- Equity at exit
- $22,351
- IRR
- 54.9%
- Equity multiple
- 6.58×
- Total profit
- $234,129
- Equity at exit
- $12,961
Cash invested: $41,972 (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
Active competition Active MLS
- For sale now
- 6 active · 2 under contract
- Months of supply
- 18.0 mo (6%/mo absorbed)
- Median asking
- $194,700 ($79/sqft)
- Median days on market
- 58 d
- This list price
- 17% of active listings are priced below it
- ARV vs active asking
- +24.1% above current asking $/sqft
Closed sales set the value; these active listings set current market conditions and a practical price ceiling.
ZIP-level market 14094
- Rents YoY
- 3.7%
- Active inventory
- 589
- Price-to-rent
- 10.5×
Monthly cashflow live
- Estimated rent
- $3,578 high interval (Pro) →
- Mortgage (P&I)
- −$786
- Tax from tax record
- −$212 /mo · $2,549/yr
- Insurance
- −$62
- HOA
- −$0
- Lot rent
- −$0
- Vacancy / Maint / Mgmt
- −$751
- Net cashflow
- $1,766
3-unit breakdown (identical units grouped — click to expand)
| Units | Beds | Baths | Est. rent |
|---|---|---|---|
| 3× units | 3 | 1 | $3,579 |
| #1 | 3 | 1 | $1,193 |
| #2 | 3 | 1 | $1,193 |
| #3 | 3 | 1 | $1,193 |
| Total (3 units) | $3,578 | ||
Break-even live
Sensitivity live
| Price | -10% $1,850 | -5% $1,808 | +0% $1,766 | +5% $1,723 | +10% $1,681 |
|---|---|---|---|---|---|
| Rent | -10% $1,483 | -5% $1,624 | +0% $1,766 | +5% $1,907 | +10% $2,048 |
| Rate | -1.0pp $1,841 | -0.5pp $1,804 | base $1,766 | +0.5pp $1,727 | +1.0pp $1,687 |
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
- $37,475
- Closing costs
- $4,497
- Club membership (one-time)
- —
- Reserves months
- —
- Total cash needed
- —
Loan-product check · same deal, 3 products live
Conventional
25% down · 7.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Personal DTI + credit; lowest rate.
DSCR
20% down · 8.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
No personal income docs; deal must DSCR.
Hard money
10% down · 12.0% · 12mo
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Short-term bridge; refi at stabilization.
Rent comps 13 comps
| Address | Beds | Baths | Sqft | Rent | $/sqft | DOM | Units | Dist |
|---|---|---|---|---|---|---|---|---|
| 53 Dayton St Lockport, NY | 3.0 | 1.0 | 930 | $1,150 | $1.24 | 107d | 1 | 0.18mi |
| 4 Mc Cue Ave Unit Upper Lockport, NY | 3.0 | 1.0 | 960 | $1,100 | $1.15 | 62d | 1 | 0.42mi |
| 80 Charlotte St Unit 1 Lockport, NY | 2.0 | 1.0 | — | $975 | — | 97d | 1 | 0.78mi |
| 83 South St Lockport, NY | 2.0 | 1.0 | — | $950 | — | 62d | 1 | 0.82mi |
| 35 South St Lockport, NY | 2.0 | 1.0 | — | $900 | — | 10d | 1 | 0.87mi |
| 480 South St Lockport, NY | 2.0 | 1.0 | 960 | $1,200 | $1.25 | 0d | 2 | 0.90mi |
| 42 Waterman St Lockport, NY | 2.0 | 1.0 | — | $950 | — | 99d | 1 | 0.98mi |
| 321 Washburn St Unit 1 Lockport, NY | 3.0 | 1.0 | — | $1,150 | — | 63d | 1 | 0.99mi |
| 47 Waterman St Unit 3 Lockport, NY | 2.0 | 1.0 | 1100 | $1,150 | $1.05 | 119d | 1 | 0.99mi |
| 327 High St Lockport, NY | 1.0–2.0 | 1.0–2.0 | 690 | $1,920 | $2.78 | 0d | 1 | 1.11mi |
| 11 Beattie Ave Lockport, NY | 3.0 | 1.0 | 1230 | $1,800 | $1.46 | 82d | 1 | 1.14mi |
| 6 Tudor Ln Lockport, NY | 2.0 | 1.0 | 850 | $1,150 | $1.35 | 0d | 1 | 1.16mi |
| 189 West Ave Unit 1 Lockport, NY | 2.0 | 1.0 | — | $1,130 | — | 6d | 1 | 1.21mi |
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 collectionRent includes water and trash collectionOperating expenses include accounting, insurance, legal, professional management, and water/sewer
- HOA & community
- Trails/paths in the community
Exterior
- Parking
- Common parkingGravel parking availableDetached 2-car garage (building has a garage with 2 spaces)
- Utilities
- Public water connectedSewer connectedElectric service with circuit breakers
- Home design
- 2-story buildingExisting structureMain thoroughfare frontage
- Construction
- Fiber cement sidingCopper plumbingShingle roofStone foundationResale condition
- Exterior features
- Open porchEnclosed porchPartial fencingFence
Interior
- Kitchen
- Eat-in kitchen in units
- Bedrooms
- Two 3-bedroom units (each unit has 3 bedrooms)
- Flooring
- CarpetLuxury vinylResilient flooringVaried flooring types
- Bathrooms
- Units each have 1 full bathroomBuilding has 2 full bathrooms total
- Heating & cooling
- Gas forced-air heatingHas heating
- Interior features
- Enclosed porchPorchEat-in kitchenFormal dining roomLiving room
- Laundry & utility
- Washer hookupLaundry in one unit (laundry-in unit)
Listing history 50 events
-
2026-09-24days on market $149,900 Active 79 DOM
-
2026-09-23days on market $149,900 Active 78 DOM
-
2026-09-22days on market $149,900 Active 77 DOM
-
2026-09-21days on market $149,900 Active 76 DOM
-
2026-09-20days on market $149,900 Active 75 DOM
-
2026-09-19days on market $149,900 Active 74 DOM
-
2026-09-18days on market $149,900 Active 73 DOM
-
2026-09-17days on market $149,900 Active 72 DOM
-
2026-09-16days on market $149,900 Active 71 DOM
-
2026-09-15days on market $149,900 Active 70 DOM
-
2026-09-14days on market $149,900 Active 69 DOM
-
2026-09-13days on market $149,900 Active 68 DOM
-
2026-09-12days on market $149,900 Active 67 DOM
-
2026-09-11days on market $149,900 Active 66 DOM
-
2026-09-05days on market $149,900 Active 60 DOM
-
2026-09-04days on market $149,900 Active 59 DOM
-
2026-09-03days on market $149,900 Active 58 DOM
-
2026-08-31days on market $149,900 Active 55 DOM
-
2026-08-29days on market $149,900 Active 53 DOM
-
2026-08-28days on market $149,900 Active 52 DOM
-
2026-08-27days on market $149,900 Active 51 DOM
-
2026-08-26days on market $149,900 Active 50 DOM
-
2026-08-25days on market $149,900 Active 49 DOM
-
2026-08-24days on market $149,900 Active 48 DOM
-
2026-08-23days on market $149,900 Active 47 DOM
-
2026-08-22days on market $149,900 Active 46 DOM
-
2026-08-21days on market $149,900 Active 45 DOM
-
2026-08-20days on market $149,900 Active 44 DOM
-
2026-08-19days on market $149,900 Active 43 DOM
-
2026-08-18days on market $149,900 Active 42 DOM
-
2026-08-17days on market $149,900 Active 41 DOM
-
2026-08-16days on market $149,900 Active 40 DOM
-
2026-08-15days on market $149,900 Active 39 DOM
-
2026-08-14days on market $149,900 Active 38 DOM
-
2026-08-13days on market $149,900 Active 37 DOM
-
2026-08-12days on market $149,900 Active 36 DOM
-
2026-08-11days on market $149,900 Active 35 DOM
-
2026-08-10days on market $149,900 Active 34 DOM
-
2026-08-09days on market $149,900 Active 33 DOM
-
2026-08-08days on market $149,900 Active 32 DOM
-
2026-08-07days on market $149,900 Active 31 DOM
-
2026-08-06days on market $149,900 Active 30 DOM
-
2026-08-05days on market $149,900 Active 29 DOM
-
2026-08-04days on market $149,900 Active 28 DOM
-
2026-08-03days on market $149,900 Active 27 DOM
-
2026-07-31days on market $149,900 Active 24 DOM
-
2026-07-30days on market $149,900 Active 23 DOM
-
2026-07-30days on market $149,900 Active 22 DOM
-
2026-07-28days on market $149,900 Active 21 DOM
-
2026-07-26days on market $149,900 Active 19 DOM
ⓘ 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
- $2,549 · $212/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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out
Nearby sold comps map
Loading sold comps map…
Walkable amenities ~0.75 mi
Loading nearby amenities…
Taxation est. · year 1
- Rental income
- $42,936
- − Mortgage interest
- −$8,397
- − Property taxes
- −$2,549
- − Insurance
- −$750
- − Repairs & maintenance
- −$3,435
- − Management
- −$3,435
- − Depreciation
- −$4,361
- Taxable income
- $20,010
- Est. tax owed @ 24.0%
- −$4,802
- After-tax cash flow
- $16,385/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.
Condition & rehab AI · 2 photos
This multi-family property requires moderate renovations to its kitchens and bathrooms, and exterior painting to enhance curb appeal and value.
Repairs flagged
- Minor kitchen cabinets — Dated appearance
- Minor bathroom fixtures — Dated appearance
- Moderate exterior paint — Some discoloration
Value-add opportunities
- Both Paint exterior — Enhances curb appeal and value ↑
- Both Replace kitchen cabinets — Modernizes the space and adds value ↑
- Both Replace bathroom fixtures — Modernizes the space and adds value ↑
ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.
Zoned Schools
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
Schools grade is shown separately in the Schools card above.
Census & demographics
- Census place
- Lockport, NY
- County
- Niagara County · 204,149 people
- City population
- 50,153
- Metro
- Buffalo-Cheektowaga, NY
- Population (ZIP)
- 50,153
- Household income
- $75,427
- Rent vs Own
- Severe rent burden
- 10% of renters
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 listed10 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%/yrLatest (2025): $2,549 · +3.1% YoY. Source: county tax records.
Cash-flow waterfall
monthlySold comps — $/sqft
last 12 mo · ≤1 miLoading sold comps…