1812 Pierce Ave · Niagara Falls, NY 14301

$60,000

3 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 4 Days on market

Built 1906 4,092 sqft lot Est $83k · 28% under

---

Why this score? — see what drove the A 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
• 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

Listing remarks

3-bedroom 1 bath VINYL sided Niagara Falls home. On metro bus route. Conveniently located close to shopping, dining, entertainment, schools and one of the 7 Wonders of the World, Niagara Falls. Large, detached garage accessible from the alleyway. Room for a small garden in the back yard and a flower garden in the front yard. Kitchen has a separate panty area that is perfect for a homework or a work from home nook. House will need a new roof. Current interior photos are approximately 10 years old. House is currently tenanted.

Key facts

• Vinyl sided
• Separate pantry area
• Flower garden

Tags

• VINYL SIDED
• DETACHED GARAGE
• SEPARATE PANTRY AREA
• ROOM FOR A SMALL GARDEN
• FLOWER GARDEN

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $501 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Cap rate 16.3% 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; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• This rent runs 45% of the median local income ($35k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $6k of equity ($415 loan paydown + $6k 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y 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 $29k; list at $60k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $60,000

Questions for the listing agent

1. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.14% ✓
• Cap rate: 16.31%
• Cash-on-cash: 35.78%
• DSCR: 2.59
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $82,944
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1812 Pierce Ave	0.00mi	3/1.0	1,152 (0%)	0mo	$65,000	$56	100
1512 Willow Ave	0.22mi	3/1.0	1,148 (-0%)	0mo	$39,300	$34	89
724 17th St	0.43mi	3/1.5	1,179 (+2%)	4mo	$70,000	$59	71
1133 Whitney Ave	0.47mi	3/1.0	1,057 (-8%)	3mo	$76,100	$72	62
2189 Seneca Ave	0.67mi	3/1.5	1,125 (-2%)	2mo	$130,000	$116	62
1870 South Ave	0.31mi	3/1.0	1,320 (+15%)	0mo	$116,000	$88	61
2487 Grand Ave	0.62mi	4/1.5 (+1)	1,188 (+3%)	1mo	$169,900	$143	58
1852 Ontario Ave	0.48mi	3/1.0	1,273 (+10%)	3mo	$85,000	$67	58
1145 Whitney Ave	0.44mi	3/1.5	992 (-14%)	1mo	$105,100	$106	54
1148 Haeberle Ave	0.58mi	3/1.0	1,302 (+13%)	4mo	$85,000	$65	48
609 25th St	0.68mi	3/2.0	1,040 (-10%)	2mo	$158,000	$152	47
1317 Niagara Ave	0.51mi	2/2.0 (-1)	1,310 (+14%)	1mo	$28,000	$21	43

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: 55.5%
• Equity multiple: 5.25×
• Total profit: $71,432
• Equity at exit: $54,053

10-year hold

• IRR: 51.3%
• Equity multiple: 13.04×
• Total profit: $202,203
• Equity at exit: $116,567

Cash invested: $16,800 (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: 3.9×

Monthly cashflow live

• Estimated rent: $1,282 high
• Mortgage (P&I): −$315
• Tax from tax record: −$172 /mo · $2,063/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $501

Break-even live

Break-even rent $648

Max offer price $60,000

Occupancy floor 56%

Sensitivity live

Price	-10% $535	-5% $518	+0% $501	+5% $484	+10% $467
Rent	-10% $400	-5% $450	+0% $501	+5% $552	+10% $602
Rate	-1.0pp $531	-0.5pp $516	base $501	+0.5pp $485	+1.0pp $470

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1808 Whitney Ave Unit 3 Niagara Falls, NY	2.0	1.0	1200	$900	$0.75	44d	1	0.08mi
1001 17th St Niagara Falls, NY	3.0	1.0	1152	$1,800	$1.56	24d	1	0.27mi
769 19th St Niagara Falls, NY	2.0	1.5	960	$1,400	$1.46	22d	1	0.34mi
784 15th St Niagara Falls, NY	3.0	1.5	1380	$1,350	$0.98	4d	1	0.39mi
2473 Pierce Ave Unit 2 Niagara Falls, NY	2.0	1.0	1000	$1,200	$1.20	4d	1	0.42mi
1817 Ontario Ave Unit 2 Niagara Falls, NY	2.0	1.0	985	$1,899	$1.93	2d	1	0.44mi
1817 Ontario Ave Unit 1 Niagara Falls, NY	2.0	1.0	999	$1,899	$1.90	2d	1	0.44mi
754 15th St Niagara Falls, NY	3.0	1.0	990	$1,100	$1.11	24d	1	0.45mi
2463 South Ave Niagara Falls, NY	2.0	1.0	1008	$1,100	$1.09	17d	1	0.48mi
613 13th St Unit 1 Niagara Falls, NY	2.0	1.0	750	$1,100	$1.47	17d	1	0.69mi
1427 Fort Ave Unit 2 Niagara Falls, NY	3.0	1.0	1058	$950	$0.90	44d	1	0.88mi
420 18th St Unit Upper Niagara Falls, NY	2.0	1.0	816	$1,150	$1.41	44d	1	0.88mi
434 23rd St Unit Upper Niagara Falls, NY	2.0	1.0	816	$1,100	$1.35	15d	1	0.88mi
724 Augustus Pl Niagara Falls, NY	4.0	1.0	1200	$1,500	$1.25	44d	1	0.91mi
642 Ashland Ave Niagara Falls, NY	3.0	1.0	1238	$1,100	$0.89	4d	1	0.93mi
420 25th St Niagara Falls, NY	3.0	1.0	1101	$1,500	$1.36	44d	1	0.96mi
616 7th St Niagara Falls, NY	2.0	1.0	770	$1,150	$1.49	24d	1	0.98mi
1780 Falls St Niagara Falls, NY	2.0	1.0	1100	$1,200	$1.09	44d	1	1.01mi
2814 10th St Niagara Falls, NY	2.0	1.0	900	$900	$1.00	2d	1	1.04mi
2727 Monroe Ave Niagara Falls, NY	3.0	1.0	960	$1,500	$1.56	11d	1	1.05mi
2420 Mackenna Ave Unit 1 Niagara Falls, NY	4.0	1.0	1300	$1,390	$1.07	2d	1	1.21mi
3036 Welch Ave Niagara Falls, NY	3.0	1.0	1000	$1,500	$1.50	2d	1	1.25mi
3626 Dudley Ave Niagara Falls, NY	2.0	1.0	700	$1,250	$1.79	44d	1	1.30mi
3340 Simmons Ave Niagara Falls, NY	3.0	1.0	1008	$1,550	$1.54	15d	1	1.37mi

Listing history 8 events

1. 2026-02-20
   status Pending
2. 2026-02-16
   listed $60,000 Active
3. 2016-12-31
   historical
4. 2016-11-08
   price $44,900
5. 2016-10-14
   price $49,900
6. 2016-09-30
   listed $50,000 Active
7. 2009-09-16
   soldstatus $29,000
8. 2009-09-16
   soldstatus $29,000

ⓘ 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: $2,063 · $172/mo
• Projected year-2 tax: $2,063 · $172/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 ≥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: $15,379
• − Mortgage interest: −$3,361
• − Property taxes: −$2,063
• − Insurance: −$300
• − Repairs & maintenance: −$1,230
• − Management: −$1,230
• − Depreciation: −$1,745
• Taxable income: $5,449
• Est. tax owed @ 24.0%: −$1,308
• After-tax cash flow: $4,703/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

+106.9% since first listed

8 events — show timeline

• 2026-02-20 Pending — WNYREIS
• 2026-02-16 Listed $60,000 WNYREIS
• 2016-12-31 Listing Removed — WNYREIS
• 2016-11-08 Price Changed $44,900 WNYREIS
• 2016-10-14 Price Changed $49,900 WNYREIS
• 2016-09-30 Listed $50,000 WNYREIS
• 2009-09-16 Sold (Public Records) $29,000 Public Records
• 2009-09-16 Sold (Public Records) $29,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $2,063 · +19.3% YoY. Source: county tax records.