66 Grand St · Lockport, NY 14094

$180,000

24 bd · 16.0 ba · 4,061 sqft · MultiFamily public records · 252 Days on market

Built 1866 3,920 sqft lot

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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
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Your next investment opportunity is here w/ this solid 4 unit! Featuring 2 units w/ 2beds + 2 studio apartments all with separate entrances & off-street parking. Front upper 2 beds has open kitchen w/ breakfast bar, lrg bright living rm & dining room w/ hardwoods throughout. Left side 2 beds has lrg living rm w/ tiled accent wall, spacious eat-in kitchen with lots of cupboard space, updated tiled bath with walk-in shower, laundry hook-ups & door to private porch. Right side studio features two private entrances and a walk out to a covered porch and small patio. L/side studio has updated bath & private balcony. Updates inc vinyl siding, all new double pane windows, furnace & hot water tanks 6 yrs, updated electric panels & 10-year-old main roof. Showings are Wednesday 10:00 a. m. to 4:00 p. m. and Saturday 10:00 a. m. to 4:00 p. m.

Key facts

• Off street parking
• Separate entrances
• Hardwoods throughout

Tags

• SEPARATE ENTRANCES
• OFF STREET PARKING
• OPEN KITCHEN
• BREAKFAST BAR
• HARDWOODS THROUGHOUT
• TILED ACCENT WALL

Property features AI

Finance

• Other: Property has 1 separate gas meter and 2 separate electric meters; Operating expense details: see remarks
• Financial info: Owner pays utilities, electricity, gas, grounds care, heat, hot water, snow removal and trash collection; Rent includes utilities, common area maintenance, electricity, heat, hot water, snow removal and trash collection; Four-unit multi-family with individual unit rents: $525, $550, $700, $725 (units are month-to-month)

Exterior

• Parking: Two or more parking spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Resale property; Vinyl siding exterior
• Construction: Vinyl siding construction; Existing (previously built)
• Exterior features: Corner, rectangular lot (approximately 47 x 80); Lot is 0.09 acres

Interior

• Kitchen: Some units include eat-in kitchen and/or formal dining room
• Bedrooms: Four units total: two 1-bedroom units and two 2-bedroom units
• Flooring: Vinyl and varying floor types
• Bathrooms: Four full bathrooms (one per unit)
• Heating & cooling: Gas heating; Forced air; Wall furnace
• Interior features: Varied flooring including vinyl; Crawl space and partial basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/4.0-bath units multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $4k ($46k/yr) — positive. Per door: $955/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 31.8% vs local median 4.5% 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); 357 active listings in the ZIP; solid renter incomes; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• At $6,463/mo this rent would consume 103% of the median local household income ($75k/yr) (locally 1112% of renters already pay >50% of income on rent) — 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 $5k 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 $50k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 252 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $39k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1866 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $158,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 252 days. Have you received any prior offers? Is the seller open to a 12% 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 1866 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 3.59% ✓
• Cap rate: 31.77%
• Cash-on-cash: 90.98%
• DSCR: 5.05
• GRM: 2.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.67% rent growth · sell at horizon

5-year hold

• IRR: 92.5%
• Equity multiple: 5.34×
• Total profit: $218,719
• Equity at exit: $26,839

10-year hold

• IRR: 95.5%
• Equity multiple: 11.37×
• Total profit: $522,587
• Equity at exit: $15,563

Cash invested: $50,400 (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 14094

• Rents YoY: 3.7%
• Active inventory: 357
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $6,463 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$266 /mo · $3,187/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,357
• Net cashflow: $3,821

Break-even live

Break-even rent $1,626

Max offer price $180,000

Occupancy floor 36%

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

Units	Beds	Baths	Est. rent
▸ 4× units	6	4	$6,464
Total (4 units)			$6,463

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $180,000 Active 252 DOM
2. 2026-06-17
   days on market $180,000 Active 251 DOM
3. 2026-06-16
   days on market $180,000 Active 250 DOM
4. 2026-06-15
   days on market $180,000 Active 249 DOM
5. 2026-06-13
   days on market $180,000 Active 247 DOM
6. 2026-06-13
   days on market $180,000 Active 246 DOM
7. 2026-06-10
   days on market $180,000 Active 244 DOM
8. 2026-06-09
   days on market $180,000 Active 243 DOM
9. 2026-06-08
   days on market $180,000 Active 242 DOM
10. 2026-06-07
    days on market $180,000 Active 241 DOM
11. 2026-06-05
    days on market $180,000 Active 238 DOM
12. 2026-06-03
    days on market $180,000 Active 237 DOM
13. 2026-06-02
    days on market $180,000 Active 236 DOM
14. 2026-06-01
    days on market $180,000 Active 235 DOM
15. 2026-05-31
    days on market $180,000 Active 234 DOM
16. 2026-04-10
    status Active
17. 2026-04-10
    price $180,000
18. 2026-04-08
    status Pending
19. 2026-04-01
    price $189,000
20. 2026-03-19
    price $197,000
21. 2025-10-29
    price $199,000
22. 2025-10-05
    listed $219,000 Active
23. 2023-02-27
    soldstatus $159,000 Closed Sale or Rented 878-char remark

    Show marketing remark (878 chars)

    Your next investment opportunity is here w/ this solid 4 unit! Featuring 2 units w/ 2beds + 2 studio apartments all with separate entrances & off-street parking. Front upper 2 beds has open kitchen w/ breakfast bar, lrg bright living rm & dining room w/ hardwoods throughout. Left side 2 beds has lrg living rm w/ tiled accent wall, spacious eat-in kitchen with lots of cupboard space, updated tiled bath with walk-in shower, laundry hook-ups & door to private porch. Right side studio features two private entrances and a walk out to a covered porch and small patio. L/side studio has updated bath & private balcony. Updates inc vinyl siding, all new double pane windows, furnace & hot water tanks 6 yrs, updated electric panels & 10-year-old main roof. Showings are Wednesday 10:00 a. m. to 4:00 p. m. and Saturday 10:00 a. m. to 4:00 p. m.

24. 2022-11-18
    status Pending Sale 878-char remark

    Show marketing remark (878 chars)

    Your next investment opportunity is here w/ this solid 4 unit! Featuring 2 units w/ 2beds + 2 studio apartments all with separate entrances & off-street parking. Front upper 2 beds has open kitchen w/ breakfast bar, lrg bright living rm & dining room w/ hardwoods throughout. Left side 2 beds has lrg living rm w/ tiled accent wall, spacious eat-in kitchen with lots of cupboard space, updated tiled bath with walk-in shower, laundry hook-ups & door to private porch. Right side studio features two private entrances and a walk out to a covered porch and small patio. L/side studio has updated bath & private balcony. Updates inc vinyl siding, all new double pane windows, furnace & hot water tanks 6 yrs, updated electric panels & 10-year-old main roof. Showings are Wednesday 10:00 a. m. to 4:00 p. m. and Saturday 10:00 a. m. to 4:00 p. m.

25. 2022-11-10
    status Under Contract- Do Not Show 878-char remark

    Show marketing remark (878 chars)

    Your next investment opportunity is here w/ this solid 4 unit! Featuring 2 units w/ 2beds + 2 studio apartments all with separate entrances & off-street parking. Front upper 2 beds has open kitchen w/ breakfast bar, lrg bright living rm & dining room w/ hardwoods throughout. Left side 2 beds has lrg living rm w/ tiled accent wall, spacious eat-in kitchen with lots of cupboard space, updated tiled bath with walk-in shower, laundry hook-ups & door to private porch. Right side studio features two private entrances and a walk out to a covered porch and small patio. L/side studio has updated bath & private balcony. Updates inc vinyl siding, all new double pane windows, furnace & hot water tanks 6 yrs, updated electric panels & 10-year-old main roof. Showings are Wednesday 10:00 a. m. to 4:00 p. m. and Saturday 10:00 a. m. to 4:00 p. m.

26. 2022-11-03
    status Active 878-char remark

    Show marketing remark (878 chars)

    Your next investment opportunity is here w/ this solid 4 unit! Featuring 2 units w/ 2beds + 2 studio apartments all with separate entrances & off-street parking. Front upper 2 beds has open kitchen w/ breakfast bar, lrg bright living rm & dining room w/ hardwoods throughout. Left side 2 beds has lrg living rm w/ tiled accent wall, spacious eat-in kitchen with lots of cupboard space, updated tiled bath with walk-in shower, laundry hook-ups & door to private porch. Right side studio features two private entrances and a walk out to a covered porch and small patio. L/side studio has updated bath & private balcony. Updates inc vinyl siding, all new double pane windows, furnace & hot water tanks 6 yrs, updated electric panels & 10-year-old main roof. Showings are Wednesday 10:00 a. m. to 4:00 p. m. and Saturday 10:00 a. m. to 4:00 p. m.

27. 2022-10-31
    status Under Contract- Do Not Show 878-char remark

    Show marketing remark (878 chars)

    Your next investment opportunity is here w/ this solid 4 unit! Featuring 2 units w/ 2beds + 2 studio apartments all with separate entrances & off-street parking. Front upper 2 beds has open kitchen w/ breakfast bar, lrg bright living rm & dining room w/ hardwoods throughout. Left side 2 beds has lrg living rm w/ tiled accent wall, spacious eat-in kitchen with lots of cupboard space, updated tiled bath with walk-in shower, laundry hook-ups & door to private porch. Right side studio features two private entrances and a walk out to a covered porch and small patio. L/side studio has updated bath & private balcony. Updates inc vinyl siding, all new double pane windows, furnace & hot water tanks 6 yrs, updated electric panels & 10-year-old main roof. Showings are Wednesday 10:00 a. m. to 4:00 p. m. and Saturday 10:00 a. m. to 4:00 p. m.

28. 2022-10-24
    listed $159,000 Active 878-char remark

    Show marketing remark (878 chars)

    Your next investment opportunity is here w/ this solid 4 unit! Featuring 2 units w/ 2beds + 2 studio apartments all with separate entrances & off-street parking. Front upper 2 beds has open kitchen w/ breakfast bar, lrg bright living rm & dining room w/ hardwoods throughout. Left side 2 beds has lrg living rm w/ tiled accent wall, spacious eat-in kitchen with lots of cupboard space, updated tiled bath with walk-in shower, laundry hook-ups & door to private porch. Right side studio features two private entrances and a walk out to a covered porch and small patio. L/side studio has updated bath & private balcony. Updates inc vinyl siding, all new double pane windows, furnace & hot water tanks 6 yrs, updated electric panels & 10-year-old main roof. Showings are Wednesday 10:00 a. m. to 4:00 p. m. and Saturday 10:00 a. m. to 4:00 p. m.

ⓘ 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: $3,187 · $266/mo
• Projected year-2 tax: $3,187 · $266/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $77,556
• − Mortgage interest: −$10,083
• − Property taxes: −$3,187
• − Insurance: −$900
• − Repairs & maintenance: −$6,204
• − Management: −$6,204
• − Depreciation: −$5,236
• Taxable income: $45,741
• Est. tax owed @ 24.0%: −$10,978
• After-tax cash flow: $34,877/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: 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

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 · 157,377 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: 1112.0

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 (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

+13.2% since first listed

13 events — show timeline

• 2026-04-10 Relisted — WNYREIS
• 2026-04-10 Price Changed $180,000 WNYREIS
• 2026-04-08 Pending — WNYREIS
• 2026-04-01 Price Changed $189,000 WNYREIS
• 2026-03-19 Price Changed $197,000 WNYREIS
• 2025-10-29 Price Changed $199,000 WNYREIS
• 2025-10-05 Listed $219,000 WNYREIS
• 2023-02-27 Sold (MLS) $159,000 WNYREIS
• 2022-11-18 Pending — WNYREIS
• 2022-11-10 Pending — WNYREIS
• 2022-11-03 Relisted — WNYREIS
• 2022-10-31 Pending — WNYREIS
• 2022-10-24 Listed $159,000 WNYREIS

Property tax history

+7.4%/yr

Latest (2025): $3,187 · -2.3% YoY. Source: county tax records.