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247 Clinton St 🏷️ Likely Rental
B+ Composite 79.9
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

247 Clinton St · Lockport, NY 14094
6 bd · 2.0 ba · 2,554 sqft · MultiFamily public records · 79 Days on market
Built 1900 Fair condition 6,098 sqft lot 2-car garage $59/sqft · 40% below area Est $251k · 40% under

🖨 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

LARGE LOTSEPARATE ENTRANCESRECENTLY RENOVATEDUPDATED KITCHENENCLOSED SIDE PORCHENCLOSED FRONT PORCH

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…
🏷️ Possibly a rental listed for sale. The $149,900 price doesn't fit this home's estimated sale value (~$251,248) and the remarks read like a rental — treat the cards below with caution.

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.
Recommended offer $140,906 (6.0% below list)

Questions for the listing agent

  1. 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?
  2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
  3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
  4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
  5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  6. 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?
  7. 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?
  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
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

5-year hold
IRR
49.0%
Equity multiple
3.16×
Total profit
$90,661
Equity at exit
$22,351
10-year hold
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
NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.
Buyer's market Market conditions within 1.0 mi — comparable homes for sale

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
Vacancy / Maint / Mgmt
$751
Net cashflow
$1,766

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

UnitsBedsBathsEst. rent
Total (3 units) $3,578

Break-even live

Break-even rent $1,343
Max offer price $149,900
Occupancy floor 46%

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
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

AddressBedsBaths SqftRent$/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

  1. 2026-09-24
    days on market $149,900 Active 79 DOM
  2. 2026-09-23
    days on market $149,900 Active 78 DOM
  3. 2026-09-22
    days on market $149,900 Active 77 DOM
  4. 2026-09-21
    days on market $149,900 Active 76 DOM
  5. 2026-09-20
    days on market $149,900 Active 75 DOM
  6. 2026-09-19
    days on market $149,900 Active 74 DOM
  7. 2026-09-18
    days on market $149,900 Active 73 DOM
  8. 2026-09-17
    days on market $149,900 Active 72 DOM
  9. 2026-09-16
    days on market $149,900 Active 71 DOM
  10. 2026-09-15
    days on market $149,900 Active 70 DOM
  11. 2026-09-14
    days on market $149,900 Active 69 DOM
  12. 2026-09-13
    days on market $149,900 Active 68 DOM
  13. 2026-09-12
    days on market $149,900 Active 67 DOM
  14. 2026-09-11
    days on market $149,900 Active 66 DOM
  15. 2026-09-05
    days on market $149,900 Active 60 DOM
  16. 2026-09-04
    days on market $149,900 Active 59 DOM
  17. 2026-09-03
    days on market $149,900 Active 58 DOM
  18. 2026-08-31
    days on market $149,900 Active 55 DOM
  19. 2026-08-29
    days on market $149,900 Active 53 DOM
  20. 2026-08-28
    days on market $149,900 Active 52 DOM
  21. 2026-08-27
    days on market $149,900 Active 51 DOM
  22. 2026-08-26
    days on market $149,900 Active 50 DOM
  23. 2026-08-25
    days on market $149,900 Active 49 DOM
  24. 2026-08-24
    days on market $149,900 Active 48 DOM
  25. 2026-08-23
    days on market $149,900 Active 47 DOM
  26. 2026-08-22
    days on market $149,900 Active 46 DOM
  27. 2026-08-21
    days on market $149,900 Active 45 DOM
  28. 2026-08-20
    days on market $149,900 Active 44 DOM
  29. 2026-08-19
    days on market $149,900 Active 43 DOM
  30. 2026-08-18
    days on market $149,900 Active 42 DOM
  31. 2026-08-17
    days on market $149,900 Active 41 DOM
  32. 2026-08-16
    days on market $149,900 Active 40 DOM
  33. 2026-08-15
    days on market $149,900 Active 39 DOM
  34. 2026-08-14
    days on market $149,900 Active 38 DOM
  35. 2026-08-13
    days on market $149,900 Active 37 DOM
  36. 2026-08-12
    days on market $149,900 Active 36 DOM
  37. 2026-08-11
    days on market $149,900 Active 35 DOM
  38. 2026-08-10
    days on market $149,900 Active 34 DOM
  39. 2026-08-09
    days on market $149,900 Active 33 DOM
  40. 2026-08-08
    days on market $149,900 Active 32 DOM
  41. 2026-08-07
    days on market $149,900 Active 31 DOM
  42. 2026-08-06
    days on market $149,900 Active 30 DOM
  43. 2026-08-05
    days on market $149,900 Active 29 DOM
  44. 2026-08-04
    days on market $149,900 Active 28 DOM
  45. 2026-08-03
    days on market $149,900 Active 27 DOM
  46. 2026-07-31
    days on market $149,900 Active 24 DOM
  47. 2026-07-30
    days on market $149,900 Active 23 DOM
  48. 2026-07-30
    days on market $149,900 Active 22 DOM
  49. 2026-07-28
    days on market $149,900 Active 21 DOM
  50. 2026-07-26
    days 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

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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
combined federal + state — saved on this device
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

Fair 45/100 Moderate rehab Est. rehab $63,850–$114,930 screening

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.

D Composite school gradezoned avg 54/100

Zoned Schools

Elementary Anna Merritt Elementary School F NY #1,577/2,108 Nat'l #23,081/41,679 High Lockport High School B+ NY #659/1,100 Nat'l #1,751/17,239

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
B Composite livability gradescore 76/100

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 · 204,149 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
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

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.

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…