121 60th St · Niagara Falls, NY 14304

$219,900

4 bd · 2.0 ba · 1,728 sqft · MultiFamily public records · 37 Days on market

Built 1910 9,656 sqft lot $127/sqft · 38% below area Est $353k · 38% 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 +15.4/30.0
• ARV discount +15.0/15.0
• 1% rule +5.3/10.0
• DSCR +4.7/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Amazing investment opportunity in Niagara Falls! 2 potential family double, loving taken care of by original owners. A must see! You will be amazed by custom workmanship throughout. Flr 2 "updated kitchen/bath". Spacious sunroom in both apartments. Generous living room. Glass block windows in basement. Large 2 car garage on a nice sized lot. This 2 family home is perfect home for potential owner-occupied landlord. Floor one is currently unoccupied. Have your rental income pay for many of the expenses of home ownership! Very close to the 90, 5 minutes from outlet mall, Tops markets and many more great amenities-including parks, shopping, restaurants, schools and entertainment, this home is worth a look! (Floor 1 is available to view, must make 2nd appointment to view FLR 2 ) Open House Dec 10th, 1-3pm. Sellers may need to find suitable housing

Key facts

• 9,656 sq ft lot
• 2 garage spots
• Built 1910

Property features AI

Finance

• Other: Operating expense details referenced in remarks
• Financial info: Tenant pays all utilities; Multi-family property with 2 total units; Separate gas meters for each unit (2); Three separate electric meters

Exterior

• Parking: Two-car garage; Paved parking; Two or more parking spaces
• Utilities: High-speed internet available; Public water connected; Sewer connected; Circuit breaker electrical
• Home design: Two-story multi-family property; Residential 2-unit zoning; Existing condition
• Construction: Shake siding; Asphalt roof; Poured foundation; Built (existing structure)
• Exterior features: Porch (on one unit); Near public transit; Rectangular residential lot

Interior

• Kitchen: Dishwasher; Oven/Range; Refrigerator; Microwave; Eat-in kitchen; Formal dining room
• Bedrooms: Two-bedroom units (both units are 2-bedroom layouts)
• Flooring: Ceramic tile; Hardwood; Laminate; Varied flooring types
• Bathrooms: Two full bathrooms total (one full bath in each unit)
• Heating & cooling: Central air conditioning; Forced air heating; Electric and gas heating
• Interior features: Ceiling fans
• Laundry & utility: Common area laundry; Gas water heater; Humidifier; Full basement with sump pump

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $86 ($1k/yr) — positive. Per door: $43/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Recommended offer: $213k (3.0% below list) — sets the bar for market timing.

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: crime F, amenities F, commute 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.
• Zoned schools: Cataract Elementary School (math 12% / reading 27%, grade F, #1,992 of 2,108 statewide, top 95%, 531 students, 76% FRL); Lasalle Preparatory School (math 24% / reading 35%, grade F, #550 of 729 statewide, top 77%, 500 students, 65% FRL); Niagara Falls High School (math 75% / reading 92%, grade A, #409 of 1,100 statewide, top 39%, 2,139 students, 71% FRL).
• Zoned-school proficiency averages 44% at this address vs 30% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Niagara Falls City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 144 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• This rent runs 41% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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.

Risks & watch-outs

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

Recommended offer $213,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.03% ✓
• Cap rate: 6.76%
• Cash-on-cash: 1.67%
• DSCR: 1.07
• GRM: 8.1

CMA / ARV

• ARV (median comp): $352,807
• List price: $219,900
• Delta: -37.67%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.6%
• Equity multiple: 0.51×
• Total profit: $-30,016
• Equity at exit: $32,788

10-year hold

• IRR: -4.6%
• Equity multiple: 0.70×
• Total profit: $-18,500
• Equity at exit: $19,013

Cash invested: $61,572 (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 14304

• Active inventory: 144
• Price-to-rent: 16.2×

Monthly cashflow live

• Estimated rent: $2,263 medium
• Mortgage (P&I): −$1,153
• Tax from tax record: −$457 /mo · $5,485/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $86

Break-even live

Break-even rent $2,154

Max offer price $219,900

Occupancy floor 91%

Sensitivity live

Price	-10% $210	-5% $148	+0% $86	+5% $24	+10% $-39
Rent	-10% $-93	-5% $-3	+0% $86	+5% $175	+10% $265
Rate	-1.0pp $197	-0.5pp $142	base $86	+0.5pp $29	+1.0pp $-29

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,264
Total (2 units)			$2,263

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
508 59th St Niagara Falls, NY	3.0	1.0	2070	$1,400	$0.68	3d	1	0.54mi
8520 Munson Ave Niagara Falls, NY	3.0	1.0	1216	$2,200	$1.81	18d	1	1.49mi

Listing history 13 events

1. 2026-06-10
   days on market $219,900 Active 37 DOM
2. 2026-06-09
   days on market $219,900 Active 36 DOM
3. 2026-06-08
   days on market $219,900 Active 35 DOM
4. 2026-06-07
   days on market $219,900 Active 34 DOM
5. 2026-06-03
   days on market $219,900 Active 30 DOM
6. 2026-06-02
   days on market $219,900 Active 29 DOM
7. 2026-06-01
   days on market $219,900 Active 28 DOM
8. 2026-05-31
   days on market $219,900 Active 27 DOM
9. 2026-05-04
   listed $219,900 Active 1126-char remark
10. 2023-03-28
    soldstatus $215,000 Closed Sale or Rented 864-char remark

    Show marketing remark (864 chars)

    Amazing investment opportunity in Niagara Falls! 2 potential family double, loving taken care of by original owners. A must see! You will be amazed by custom workmanship throughout. Flr 2 "updated kitchen/bath". Spacious sunroom in both apartments. Generous living room. Glass block windows in basement. Large 2 car garage on a nice sized lot. This 2 family home is perfect home for potential owner-occupied landlord. Floor one is currently unoccupied. Have your rental income pay for many of the expenses of home ownership! Very close to the 90, 5 minutes from outlet mall, Tops markets and many more great amenities-including parks, shopping, restaurants, schools and entertainment, this home is worth a look! (Floor 1 is available to view, must make 2nd appointment to view FLR 2 ) Open House Dec 10th, 1-3pm. Sellers may need to find suitable housing

11. 2022-12-30
    status Pending Sale 864-char remark

    Show marketing remark (864 chars)

    Amazing investment opportunity in Niagara Falls! 2 potential family double, loving taken care of by original owners. A must see! You will be amazed by custom workmanship throughout. Flr 2 "updated kitchen/bath". Spacious sunroom in both apartments. Generous living room. Glass block windows in basement. Large 2 car garage on a nice sized lot. This 2 family home is perfect home for potential owner-occupied landlord. Floor one is currently unoccupied. Have your rental income pay for many of the expenses of home ownership! Very close to the 90, 5 minutes from outlet mall, Tops markets and many more great amenities-including parks, shopping, restaurants, schools and entertainment, this home is worth a look! (Floor 1 is available to view, must make 2nd appointment to view FLR 2 ) Open House Dec 10th, 1-3pm. Sellers may need to find suitable housing

12. 2022-12-17
    status Under Contract- Do Not Show 864-char remark

    Show marketing remark (864 chars)

    Amazing investment opportunity in Niagara Falls! 2 potential family double, loving taken care of by original owners. A must see! You will be amazed by custom workmanship throughout. Flr 2 "updated kitchen/bath". Spacious sunroom in both apartments. Generous living room. Glass block windows in basement. Large 2 car garage on a nice sized lot. This 2 family home is perfect home for potential owner-occupied landlord. Floor one is currently unoccupied. Have your rental income pay for many of the expenses of home ownership! Very close to the 90, 5 minutes from outlet mall, Tops markets and many more great amenities-including parks, shopping, restaurants, schools and entertainment, this home is worth a look! (Floor 1 is available to view, must make 2nd appointment to view FLR 2 ) Open House Dec 10th, 1-3pm. Sellers may need to find suitable housing

13. 2022-11-28
    listed $200,000 Active 864-char remark

    Show marketing remark (864 chars)

    Amazing investment opportunity in Niagara Falls! 2 potential family double, loving taken care of by original owners. A must see! You will be amazed by custom workmanship throughout. Flr 2 "updated kitchen/bath". Spacious sunroom in both apartments. Generous living room. Glass block windows in basement. Large 2 car garage on a nice sized lot. This 2 family home is perfect home for potential owner-occupied landlord. Floor one is currently unoccupied. Have your rental income pay for many of the expenses of home ownership! Very close to the 90, 5 minutes from outlet mall, Tops markets and many more great amenities-including parks, shopping, restaurants, schools and entertainment, this home is worth a look! (Floor 1 is available to view, must make 2nd appointment to view FLR 2 ) Open House Dec 10th, 1-3pm. Sellers may need to find suitable housing

ⓘ 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: $5,485 · $457/mo
• Projected year-2 tax: $5,485 · $457/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 3/10 Moderate 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: $27,156
• − Mortgage interest: −$12,318
• − Property taxes: −$5,485
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,172
• − Management: −$2,172
• − Depreciation: −$6,397
• Taxable loss: −$2,488
• Est. tax savings @ 24.0%: +$597
• After-tax cash flow: $1,628/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): 29,208
• Household income: $66,660
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 698.0

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 (85%)
• Race & ethnicity: White 85% Two or more races 6% Hispanic / Latino 4% Black 3% Asian 2%
• Common ancestry: Romanian 10% Lithuanian 3% Slovak 2%
• Foreign-born: 3% · Canada, China, Vietnam
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -231.77%
• Current HPI: 280.3295
• Rent YoY: —
• 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

+10.0% since first listed

5 events — show timeline

• 2026-05-04 Listed $219,900 WNYREIS
• 2023-03-28 Sold (MLS) $215,000 WNYREIS
• 2022-12-30 Pending — WNYREIS
• 2022-12-17 Pending — WNYREIS
• 2022-11-28 Listed $200,000 WNYREIS

Property tax history

+13.4%/yr

Latest (2025): $5,485 · +23.2% YoY. Source: county tax records.