535 20th St · Niagara Falls, NY 14301

$53,500

2 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 76 Days on market

Built 1910 3,125 sqft lot $51/sqft · 56% below area

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.7/5.0
• Livability +3.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Discover this beautiful updated ready to move single family home with 2 bedroom and 1 bathroom property along with 1 additional lot on the left side of the house. The location is quite and 10 minutes from Niagara Falls. The entire property was remodeled, renovated few years back. Now need some TLC. The location and exquisite interiors design make you feel at home with comfort, peace and tranquility. It’s a good investment too. The home is accessible to all amenities and facilities within 2 minutes driving distance and 10 minutes drive to access to all major highways and state ways. It’s a vacant property and you can schedule at any time with agent. Offer will be reviewed as they come. Please put your highest and best offer.

Key facts

• Additional lot
• Remodeled property
• 3,125 sq ft lot

Tags

• UPDATED SINGLE FAMILY HOME
• ADDITIONAL LOT
• REMODELED PROPERTY
• ACCESSIBLE TO AMENITIES
• 10 MINUTES FROM NIAGARA FALLS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $54k.

Deal economics

• At list price, monthly cash flow is $592 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $54k).
• Recommended offer: $50k (6.0% below list) — sets the bar for market timing.
• Cap rate 19.6% vs local median 7.5% 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; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 42% 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 ($370 loan paydown + $5k 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 $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• 7 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 $18k; list at $54k implies a 206% 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 $50,290 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.28% ✓
• Cap rate: 19.58%
• Cash-on-cash: 47.44%
• DSCR: 3.11
• GRM: 3.7

CMA / ARV

• ARV (median comp): $122,373
• List price: $53,500
• Delta: -56.28%
• 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
609 25th St	0.30mi	3/2.0 (+1)	1,040 (-2%)	2mo	$158,000	$152	73
422 21st St	0.23mi	3/1.0 (+1)	992 (-6%)	5mo	$136,000	$137	70
1962 Falls St	0.38mi	3/1.0 (+1)	1,040 (-2%)	6mo	$76,000	$73	69
2762 Falls St	0.69mi	2/1.0	1,056 (0%)	3mo	$120,000	$114	66
2219 Forest Ave	0.38mi	3/1.0 (+1)	1,116 (+6%)	5mo	$155,000	$139	64
1923 Cudaback Ave	0.46mi	3/2.0 (+1)	1,008 (-4%)	2mo	$143,000	$142	60
627 13th St	0.47mi	3/1.5 (+1)	1,120 (+6%)	4mo	$110,000	$98	57
724 17th St	0.32mi	3/1.5 (+1)	1,179 (+12%)	4mo	$70,000	$59	56
2475 La Salle Ave	0.60mi	3/2.0 (+1)	1,024 (-3%)	6mo	$129,320	$126	53
544 30th St	0.58mi	3/1.0 (+1)	964 (-9%)	3mo	$62,000	$64	51
1812 Pierce Ave	0.65mi	3/1.0 (+1)	1,152 (+9%)	0mo	$65,000	$56	49
3028 Welch Ave	0.74mi	3/1.5 (+1)	942 (-11%)	4mo	$99,000	$105	37

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: 65.2%
• Equity multiple: 5.89×
• Total profit: $73,306
• Equity at exit: $48,197

10-year hold

• IRR: 60.8%
• Equity multiple: 14.50×
• Total profit: $202,193
• Equity at exit: $103,939

Cash invested: $14,980 (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: 3.7×

Monthly cashflow live

• Estimated rent: $1,218 high
• Mortgage (P&I): −$281
• Tax est. 1.5%: −$67 /mo · $802/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $592

Break-even live

Break-even rent $468

Max offer price $53,500

Occupancy floor 46%

Sensitivity live

Price	-10% $629	-5% $611	+0% $592	+5% $574	+10% $555
Rent	-10% $496	-5% $544	+0% $592	+5% $640	+10% $688
Rate	-1.0pp $619	-0.5pp $606	base $592	+0.5pp $578	+1.0pp $564

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: $13,375
• Closing costs: $1,605
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
434 23rd St Unit Upper Niagara Falls, NY	2.0	1.0	816	$1,100	$1.35	16d	1	0.26mi
769 19th St Niagara Falls, NY	2.0	1.5	960	$1,400	$1.46	22d	1	0.29mi
420 18th St Unit Upper Niagara Falls, NY	2.0	1.0	816	$1,150	$1.41	45d	1	0.31mi
420 25th St Niagara Falls, NY	3.0	1.0	1101	$1,500	$1.36	45d	1	0.38mi
1427 Fort Ave Unit 2 Niagara Falls, NY	3.0	1.0	1058	$950	$0.90	45d	1	0.40mi
1780 Falls St Niagara Falls, NY	2.0	1.0	1100	$1,200	$1.09	45d	1	0.41mi
1001 17th St Niagara Falls, NY	3.0	1.0	1152	$1,800	$1.56	25d	1	0.43mi
754 15th St Niagara Falls, NY	3.0	1.0	990	$1,100	$1.11	25d	1	0.44mi
613 13th St Unit 1 Niagara Falls, NY	2.0	1.0	750	$1,100	$1.47	18d	1	0.48mi
784 15th St Niagara Falls, NY	3.0	1.5	1380	$1,350	$0.98	4d	1	0.49mi
2727 Monroe Ave Niagara Falls, NY	3.0	1.0	960	$1,500	$1.56	12d	1	0.52mi
1808 Whitney Ave Unit 3 Niagara Falls, NY	2.0	1.0	1200	$900	$0.75	45d	1	0.56mi
2473 Pierce Ave Unit 2 Niagara Falls, NY	2.0	1.0	1000	$1,200	$1.20	4d	1	0.66mi
3036 Welch Ave Niagara Falls, NY	3.0	1.0	1000	$1,500	$1.50	3d	1	0.75mi
700 Pine Ave Unit 1 Niagara Falls, NY	1.0	1.0	1075	$1,075	$1.00	13d	1	0.88mi
616 7th St Niagara Falls, NY	2.0	1.0	770	$1,150	$1.49	25d	1	0.89mi
616 Niagara St Niagara Falls, NY	1.0	1.0	750	$1,288	$1.72	3d	1	0.93mi
3626 Dudley Ave Niagara Falls, NY	2.0	1.0	700	$1,250	$1.79	45d	1	0.93mi
2463 South Ave Niagara Falls, NY	2.0	1.0	1008	$1,100	$1.09	18d	1	0.94mi
510 6th St Unit 3 Niagara Falls, NY	1.0	1.0	950	$900	$0.95	45d	1	0.96mi
3340 Simmons Ave Niagara Falls, NY	3.0	1.0	1008	$1,550	$1.54	16d	1	0.98mi
1817 Ontario Ave Unit 2 Niagara Falls, NY	2.0	1.0	985	$1,899	$1.93	3d	1	1.07mi
1817 Ontario Ave Unit 1 Niagara Falls, NY	2.0	1.0	999	$1,899	$1.90	3d	1	1.07mi
714 Buffalo Ave Unit 3 Niagara Falls, NY	1.0	1.0	1000	$1,200	$1.20	45d	1	1.09mi
714 Buffalo Ave Unit 4 Niagara Falls, NY	1.0	1.0	1000	$1,000	$1.00	45d	1	1.09mi
642 Ashland Ave Niagara Falls, NY	3.0	1.0	1238	$1,100	$0.89	4d	1	1.10mi
460 3rd St Niagara Falls, NY	1.0	1.0	725	$1,212	$1.67	3d	1	1.17mi

Listing history 36 events

1. 2026-06-21
   days on market $53,500 Active 76 DOM
2. 2026-06-18
   days on market $53,500 Active 73 DOM
3. 2026-06-17
   days on market $53,500 Active 72 DOM
4. 2026-06-16
   days on market $53,500 Active 71 DOM
5. 2026-06-15
   days on market $53,500 Active 70 DOM
6. 2026-06-13
   days on market $53,500 Active 68 DOM
7. 2026-06-13
   days on market $53,500 Active 67 DOM
8. 2026-06-10
   days on market $53,500 Active 65 DOM
9. 2026-06-09
   days on market $53,500 Active 64 DOM
10. 2026-06-08
    days on market $53,500 Active 63 DOM
11. 2026-06-07
    days on market $53,500 Active 62 DOM
12. 2026-06-03
    days on market $53,500 Active 58 DOM
13. 2026-06-02
    days on market $53,500 Active 57 DOM
14. 2026-06-01
    days on market $53,500 Active 56 DOM
15. 2026-05-31
    days on market $53,500 Active 55 DOM
16. 2026-05-04
    price $53,500 745-char remark

    Show marketing remark (745 chars)

    Discover this beautiful updated ready to move single family home with 2 bedroom and 1 bathroom property along with 1 additional lot on the left side of the house. The location is quite and 10 minutes from Niagara Falls. The entire property was remodeled, renovated few years back. Now need some TLC. The location and exquisite interiors design make you feel at home with comfort, peace and tranquility. It’s a good investment too. The home is accessible to all amenities and facilities within 2 minutes driving distance and 10 minutes drive to access to all major highways and state ways. It’s a vacant property and you can schedule at any time with agent. Offer will be reviewed as they come. Please put your highest and best offer.

17. 2026-04-06
    listed $54,000 Active 745-char remark

    Show marketing remark (745 chars)

    Discover this beautiful updated ready to move single family home with 2 bedroom and 1 bathroom property along with 1 additional lot on the left side of the house. The location is quite and 10 minutes from Niagara Falls. The entire property was remodeled, renovated few years back. Now need some TLC. The location and exquisite interiors design make you feel at home with comfort, peace and tranquility. It’s a good investment too. The home is accessible to all amenities and facilities within 2 minutes driving distance and 10 minutes drive to access to all major highways and state ways. It’s a vacant property and you can schedule at any time with agent. Offer will be reviewed as they come. Please put your highest and best offer.

18. 2025-06-30
    historical
19. 2025-04-03
    listed $50,000 Active
20. 2024-10-14
    historical
21. 2024-09-09
    status Active
22. 2024-07-03
    price $59,000
23. 2024-05-22
    listed $69,900 Active
24. 2017-09-26
    soldstatus $17,500 Closed Sale or Rented
25. 2017-08-18
    status Pending Sale
26. 2017-07-17
    status Under Contract- Do Not Show
27. 2017-06-08
    price $10,000
28. 2017-02-27
    listed $20,000 Active
29. 2016-10-19
    historical
30. 2016-04-19
    listed $39,900 Active
31. 2014-08-13
    soldstatus $25,000
32. 2012-03-07
    listed $23,000
33. 2007-03-02
    soldstatus $11,559
34. 2004-06-25
    soldstatus $38,247
35. 2004-06-25
    soldstatus $10,600
36. 1998-06-19
    soldstatus $27,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $14,611
• − Mortgage interest: −$2,997
• − Property taxes: −$802
• − Insurance: −$268
• − Repairs & maintenance: −$1,169
• − Management: −$1,169
• − Depreciation: −$1,556
• Taxable income: $6,650
• Est. tax owed @ 24.0%: −$1,596
• After-tax cash flow: $5,510/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

+98.1% since first listed

21 events — show timeline

• 2026-05-04 Price Changed $53,500 WNYREIS
• 2026-04-06 Listed $54,000 WNYREIS
• 2025-06-30 Listing Removed — WNYREIS
• 2025-04-03 Listed $50,000 WNYREIS
• 2024-10-14 Listing Removed — WNYREIS
• 2024-09-09 Relisted — WNYREIS
• 2024-07-03 Price Changed $59,000 WNYREIS
• 2024-05-22 Listed $69,900 WNYREIS
• 2017-09-26 Sold (MLS) $17,500 WNYREIS
• 2017-08-18 Pending — WNYREIS
• 2017-07-17 Pending — WNYREIS
• 2017-06-08 Price Changed $10,000 WNYREIS
• 2017-02-27 Listed $20,000 WNYREIS
• 2016-10-19 Listing Removed — WNYREIS
• 2016-04-19 Listed $39,900 WNYREIS
• 2014-08-13 Sold (Public Records) $25,000 Public Records
• 2012-03-07 Listed $23,000 WNYREIS
• 2007-03-02 Sold (Public Records) $11,559 Public Records
• 2004-06-25 Sold (Public Records) $10,600 Public Records
• 2004-06-25 Sold (Public Records) $38,247 Public Records
• 1998-06-19 Sold (Public Records) $27,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $2,675 · +1.8% YoY. Source: county tax records.