1337 La Salle Ave · Niagara Falls, NY 14301

$139,000

5 bd · 4.0 ba · 2,400 sqft · MultiFamily public records · 1 Days on market

Built 1910 3,709 sqft lot Est $125k · 11% 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
• Appreciation +10.0/10.0
• Rent growth +4.7/5.0
• Livability +3.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0

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

3 unit, 2 (2 bedroom units & 1 (one bedroom unit) apartments. Separate utilities, 1 water meter, updated furnace (approx. 3 yrs old) for both 2 bedroom units. Updated hot water tanks approx. 3 yrs old. Hardwired smoke/carbon monoxide detectors, common laundry/storage area, appliances negotiable. Alleyway behind property for additional access. Note: income of $15,600/year for 2 units (currently rented). One 2 bedroom unit currently vacant.

Key facts

• 3,709 sq ft lot
• Built 1910

Property features AI

Finance

• Other: Three total units with separate gas and electric meters for each unit
• Financial info: Owner pays water; Operating expenses include water/sewer; Rent includes water

Exterior

• Parking: Unpaved parking
• Utilities: Public water connected; Sewer connected
• Home design: 2-story building; Resale property; Brick construction
• Construction: Brick construction
• Exterior features: Rectangular residential lot with 33 x 112 dimensions; City street frontage

Interior

• Flooring: Vinyl; Varied flooring
• Bathrooms: Three full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Vinyl and varied flooring
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 5-bed/4.0-bath multifamily listed at $139k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $139k).
• Cap rate 21.9% vs local median 7.7% 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: Rents rising fast (+8.8%/yr); 164 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• At $3,505/mo this rent would consume 122% of the median local household income ($35k/yr) (locally 954% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $15k of equity ($961 loan paydown + $14k appreciation (10.0% local appreciation)).
• Niagara County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $39k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 14y ago 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 $139k implies a 142% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,000

Questions for the listing agent

1. Built in 1910 — 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 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: 2.52% ✓
• Cap rate: 21.91%
• Cash-on-cash: 55.76%
• DSCR: 3.48
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $124,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1145 Willow Ave	0.21mi	6/2.0 (+1)	2,304 (-4%)	3mo	$53,300	$23	68
1635 South Ave	0.46mi	5/2.0	2,208 (-8%)	2mo	$85,000	$38	55
1882 Niagara Ave	0.72mi	5/2.5	2,527 (+5%)	0mo	$155,000	$61	51
609 Elmwood Ave	0.57mi	4/2.0 (-1)	2,221 (-8%)	0mo	$190,800	$86	48
2225 Whitney Ave	0.52mi	6/2.0 (+1)	2,200 (-8%)	3mo	$125,000	$57	46
814 Willow Ave	0.47mi	5/2.0	2,072 (-14%)	2mo	$140,000	$68	46
423 Elmwood Ave	0.65mi	4/2.0 (-1)	2,232 (-7%)	3mo	$117,000	$52	42
2401 Whitney Ave	0.61mi	6/2.0 (+1)	2,168 (-10%)	2mo	$40,000	$18	41
1867 Michigan Ave	0.52mi	4/2.0 (-1)	2,100 (-12%)	2mo	$87,000	$41	40
632 Elmwood Ave	0.52mi	6/2.0 (+1)	2,677 (+12%)	4mo	$95,000	$35	40
2455 La Salle Ave	0.71mi	4/2.0 (-1)	2,152 (-10%)	3mo	$112,000	$52	34
2443 Pierce Ave	0.70mi	4/2.0 (-1)	2,112 (-12%)	4mo	$120,000	$57	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 72.5%
• Equity multiple: 6.38×
• Total profit: $209,459
• Equity at exit: $125,222

10-year hold

• IRR: 68.2%
• Equity multiple: 15.70×
• Total profit: $572,238
• Equity at exit: $270,046

Cash invested: $38,920 (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 14301

• Home prices YoY: 6.2%
• Rents YoY: 8.8%
• Active inventory: 164
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $3,505 high
• Mortgage (P&I): −$729
• Tax from tax record: −$174 /mo · $2,084/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$736
• Net cashflow: $1,808

Break-even live

Break-even rent $1,216

Max offer price $139,000

Occupancy floor 43%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$2,358
1× unit	1	1.5	$1,147
Total (3 units)			$3,505

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2020 Forest Ave Niagara Falls, NY	4.0	2.0	1600	$1,500	$0.94	17d	1	0.43mi
3025 Macklem Ave Niagara Falls, NY	4.0	1.5	1750	$2,200	$1.26	44d	1	1.36mi

Listing history 1 events

1. 2026-06-19
   listed $139,000 Pending 1 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: $2,084 · $174/mo
• Projected year-2 tax: $2,217 · $185/mo
• Expected delta: +$132/yr (+$11/mo · 6.4%)

ⓘ 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 2/10 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,060
• − Mortgage interest: −$7,786
• − Property taxes: −$2,084
• − Insurance: −$695
• − Repairs & maintenance: −$3,365
• − Management: −$3,365
• − Depreciation: −$4,044
• Taxable income: $20,721
• Est. tax owed @ 24.0%: −$4,973
• After-tax cash flow: $16,728/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): 10,923
• Household income: $34,549
• Rent vs Own: 54.1% rent · 45.9% own
• Severe rent burden: 954.0

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 0.58)
• Race & ethnicity: White 59% Black 25% Two or more races 8% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 6% Slovak 2% Lithuanian 1%
• Foreign-born: 5% · Canada, China, Dominican Republic
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 3% Chinese 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: ▲ 15.41%
• Current HPI: 266.1457
• Rent YoY: ▲ 8.79%
• 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

+379.3% since first listed

16 events — show timeline

• 2026-06-18 Pending — WNYREIS
• 2026-06-18 Listed $139,000 WNYREIS
• 2019-10-18 Sold (MLS) $57,500 WNYREIS
• 2019-08-27 Pending — WNYREIS
• 2019-07-15 Listed $62,900 WNYREIS
• 2018-07-11 Sold (Public Records) $54,500 Public Records
• 2018-07-06 Sold (MLS) $54,500 WNYREIS
• 2018-04-21 Pending — WNYREIS
• 2018-04-02 Listed $59,900 WNYREIS
• 2015-11-18 Listing Removed — WNYREIS
• 2015-09-23 Listed $39,900 WNYREIS
• 2013-05-31 Sold (MLS) $38,000 WNYREIS
• 2013-05-13 Sold (Public Records) $38,000 Public Records
• 2012-10-21 Listed $36,000 WNYREIS
• 2009-05-08 Sold (Public Records) $29,000 Public Records
• 2009-05-08 Sold (Public Records) $29,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $2,084 · -14.2% YoY. Source: county tax records.