2022 La Salle Ave · Niagara Falls, NY 14301

$119,900

2 bd · 2.0 ba · 1,516 sqft · MultiFamily public records · 65 Days on market

Built 1910 3,720 sqft lot $79/sqft · 33% below area Est $178k · 33% under

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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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great investment or owner-occupant opportunity! This 2/2 duplex offers 1,516 sq ft of living space and strong potential. The lower unit is tenant-occupied with a long-term tenant currently paying $700/month, providing immediate income. The upper unit requires renovation, making it ideal for an investor or owner occupant looking to add value while collecting rental income. Conveniently located near multiple schools, public transportation, and just minutes from Niagara Falls State Park, as well as the shopping and dining corridors along Military Rd and Niagara Falls Blvd. Whether you're looking to expand your portfolio or create your own living space, this property offers excellent upside potential.

Key facts

• 3,720 sq ft lot
• 2 parking spots
• Built 1910

🏷️ Possibly a rental listed for sale. The $119,900 price doesn't fit this home's estimated sale value (~$178,210) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $120k.

Deal economics

• At list price, monthly cash flow is $975 ($12k/yr) — positive. Per door: $487/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.0% 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; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• At $2,426/mo this rent would consume 84% 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 $13k of equity ($829 loan paydown + $12k 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 $34k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 3 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 $42k; list at $120k implies a 182% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $112,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 2.02% ✓
• Cap rate: 16.05%
• Cash-on-cash: 34.85%
• DSCR: 2.55
• GRM: 4.1

CMA / ARV

• ARV (median comp): $178,210
• List price: $119,900
• Delta: -32.72%
• 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
1970 Whitney Ave	0.06mi	3/2.0 (+1)	1,562 (+3%)	8mo	$122,000	$78	80
2236 Linwood Ave	0.27mi	3/2.0 (+1)	1,544 (+2%)	8mo	$163,000	$106	72
1805 Weston Ave	0.37mi	2/2.0	1,610 (+6%)	1mo	$20,000	$12	72
2260 Weston Ave	0.41mi	3/2.0 (+1)	1,540 (+2%)	3mo	$135,000	$88	71
2203 La Salle Ave	0.05mi	3/2.0 (+1)	1,594 (+5%)	18mo	$55,000	$35	69
2252 La Salle Ave	0.14mi	3/2.0 (+1)	1,635 (+8%)	17mo	$107,900	$66	62
2234 Willow Ave	0.21mi	3/2.0 (+1)	1,386 (-9%)	11mo	$105,000	$76	61
1208 17th St	0.25mi	3/2.0 (+1)	1,378 (-9%)	12mo	$92,500	$67	58
1519 Whitney Ave	0.33mi	3/2.0 (+1)	1,408 (-7%)	12mo	$110,000	$78	58
2216 Forest Ave	0.14mi	3/2.0 (+1)	1,650 (+9%)	20mo	$160,000	$97	57
443 21st St	0.71mi	3/2.0 (+1)	1,428 (-6%)	10mo	$65,000	$46	44
1361 North Ave	0.74mi	3/2.0 (+1)	1,711 (+13%)	2mo	$76,000	$44	38

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: 54.5%
• Equity multiple: 5.18×
• Total profit: $140,318
• Equity at exit: $108,015

10-year hold

• IRR: 50.3%
• Equity multiple: 12.81×
• Total profit: $396,360
• Equity at exit: $232,939

Cash invested: $33,572 (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 14301

• Home prices YoY: 6.2%
• Rents YoY: 8.8%
• Active inventory: 164
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,426 high
• Mortgage (P&I): −$629
• Tax from tax record: −$263 /mo · $3,155/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $975

Break-even live

Break-even rent $1,192

Max offer price $119,900

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,426
Total (2 units)			$2,426

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 9 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	0.14mi
1001 17th St Niagara Falls, NY	3.0	1.0	1152	$1,800	$1.56	24d	1	0.24mi
784 15th St Niagara Falls, NY	3.0	1.5	1380	$1,350	$0.98	3d	1	0.39mi
1312 Ontario Ave Niagara Falls, NY	2.0	1.0	1956	$1,200	$0.61	44d	1	0.76mi
1427 Fort Ave Unit 2 Niagara Falls, NY	3.0	1.0	1058	$950	$0.90	44d	1	0.78mi
420 25th St Niagara Falls, NY	3.0	1.0	1101	$1,500	$1.36	44d	1	0.80mi
1780 Falls St Niagara Falls, NY	2.0	1.0	1100	$1,200	$1.09	44d	1	0.88mi
700 Pine Ave Unit 1 Niagara Falls, NY	1.0	1.0	1075	$1,075	$1.00	12d	1	0.94mi
642 Ashland Ave Niagara Falls, NY	3.0	1.0	1238	$1,100	$0.89	3d	1	1.01mi

Listing history 22 events

1. 2026-06-18
   days on market $119,900 Active 65 DOM
2. 2026-06-17
   days on market $119,900 Active 64 DOM
3. 2026-06-16
   days on market $119,900 Active 63 DOM
4. 2026-06-15
   days on market $119,900 Active 62 DOM
5. 2026-06-13
   days on market $119,900 Active 60 DOM
6. 2026-06-13
   days on market $119,900 Active 59 DOM
7. 2026-06-10
   days on market $119,900 Active 57 DOM
8. 2026-06-09
   days on market $119,900 Active 56 DOM
9. 2026-06-08
   days on market $119,900 Active 55 DOM
10. 2026-06-07
    days on market $119,900 Active 54 DOM
11. 2026-06-03
    days on market $119,900 Active 50 DOM
12. 2026-06-02
    days on market $119,900 Active 49 DOM
13. 2026-06-01
    days on market $119,900 Active 48 DOM
14. 2026-05-31
    days on market $119,900 Active 47 DOM
15. 2026-04-14
    listed $119,900 Active 706-char remark

    Show marketing remark (706 chars)

    Great investment or owner-occupant opportunity! This 2/2 duplex offers 1,516 sq ft of living space and strong potential. The lower unit is tenant-occupied with a long-term tenant currently paying $700/month, providing immediate income. The upper unit requires renovation, making it ideal for an investor or owner occupant looking to add value while collecting rental income. Conveniently located near multiple schools, public transportation, and just minutes from Niagara Falls State Park, as well as the shopping and dining corridors along Military Rd and Niagara Falls Blvd. Whether you're looking to expand your portfolio or create your own living space, this property offers excellent upside potential.

16. 2018-10-22
    soldstatus $42,500
17. 2015-07-23
    soldstatus $22,000 Closed Sale or Rented 218-char remark

    Show marketing remark (218 chars)

    Investors DONT MISS OUT! Listed way below assessment! Nice brick exterior with 2 front porches. Back deck with fenced yard. Great tenants. Possible 2nd bedroom in each unit. Appliances included in 1st floor unit only.

18. 2015-07-15
    soldstatus $22,000
19. 2015-06-29
    status Pending Sale 218-char remark

    Show marketing remark (218 chars)

    Investors DONT MISS OUT! Listed way below assessment! Nice brick exterior with 2 front porches. Back deck with fenced yard. Great tenants. Possible 2nd bedroom in each unit. Appliances included in 1st floor unit only.

20. 2015-05-13
    listed $28,000 Active 218-char remark

    Show marketing remark (218 chars)

    Investors DONT MISS OUT! Listed way below assessment! Nice brick exterior with 2 front porches. Back deck with fenced yard. Great tenants. Possible 2nd bedroom in each unit. Appliances included in 1st floor unit only.

21. 2012-02-20
    listed $28,000
22. 1996-11-18
    soldstatus $35,000

ⓘ 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: $3,155 · $263/mo
• Projected year-2 tax: $3,155 · $263/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: $29,112
• − Mortgage interest: −$6,716
• − Property taxes: −$3,155
• − Insurance: −$600
• − Repairs & maintenance: −$2,329
• − Management: −$2,329
• − Depreciation: −$3,488
• Taxable income: $10,495
• Est. tax owed @ 24.0%: −$2,519
• After-tax cash flow: $9,180/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

+242.6% since first listed

8 events — show timeline

• 2026-04-14 Listed $119,900 WNYREIS
• 2018-10-22 Sold (Public Records) $42,500 Public Records
• 2015-07-23 Sold (MLS) $22,000 WNYREIS
• 2015-07-15 Sold (Public Records) $22,000 Public Records
• 2015-06-29 Pending — WNYREIS
• 2015-05-13 Listed $28,000 WNYREIS
• 2012-02-20 Listed $28,000 WNYREIS
• 1996-11-18 Sold (Public Records) $35,000 Public Records

Property tax history

+7.3%/yr

Latest (2025): $3,155 · -26.8% YoY. Source: county tax records.