51 S 86th St Unit 9A · Niagara Falls, NY 14304

$96,500

2 bd · 1.0 ba · 720 sqft · Condo public records · 23 Days on market

Built 1985 $125/mo HOA · 11% of rent

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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 +21.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +6.4/10.0
• 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

Listing remarks MLS

@ bedroom condo with laundry, eat in kitchen & all appliances included. Condo HOA fee's $60.00 per month.

Key facts

• Wall ac unit
• Electric stove oven
• Refrigerator

Tags

• WATERSIDE DECK
• IN UNIT STACKED WASHER DRYER
• ELECTRIC STOVE OVEN
• REFRIGERATOR
• WALL AC UNIT

Property features AI

Finance

• HOA & community: River Park Condominium with $125 monthly association fee; Association covers common area maintenance, common area insurance, structure maintenance, snow removal, and trash

Exterior

• Parking: Assigned parking (no garage) — one space; see remarks
• Utilities: Public water connected; Sewer connected; Circuit breaker electrical service
• Home design: Condominium unit in existing building; Single-story
• Construction: Brick and frame construction
• Exterior features: Irregular lot; Near public transit; Residential lot; City street frontage; Niagara River nearby

Interior

• Kitchen: Electric range; Electric oven; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Vinyl; Varies
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Electric baseboard heating; Wall cooling unit(s)
• Interior features: Ceiling fans; Eat-in kitchen; Separate/formal living room
• Laundry & utility: In-unit washer and dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $96k.

Deal economics

• At list price, monthly cash flow is $152 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $96k).
• Recommended offer: $95k (1.5% 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: 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: 144 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $667 of loan paydown is wiped out by about $3k 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 23 days — a 2% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y 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 $28k; list at $96k implies a 245% gain — meaningful room to come down on a strong offer.

Recommended offer $95,052 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 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: 1.14% ✓
• Cap rate: 8.18%
• Cash-on-cash: 6.75%
• DSCR: 1.30
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -5.9%
• Equity multiple: 0.78×
• Total profit: $-5,915
• Equity at exit: $14,388

10-year hold

• IRR: 3.8%
• Equity multiple: 1.28×
• Total profit: $7,501
• Equity at exit: $8,344

Cash invested: $27,020 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,101 medium
• Mortgage (P&I): −$506
• Tax from tax record: −$46 /mo · $556/yr
• Insurance: −$40
• HOA: −$125
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $152

Break-even live

Break-even rent $908

Max offer price $96,500

Occupancy floor 81%

Sensitivity live

Price	-10% $207	-5% $179	+0% $152	+5% $125	+10% $97
Rent	-10% $65	-5% $108	+0% $152	+5% $195	+10% $239
Rate	-1.0pp $200	-0.5pp $176	base $152	+0.5pp $127	+1.0pp $101

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: $24,125
• Closing costs: $2,895
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
51 S 86th St Unit 11B Niagara Falls, NY	2.0	1.0	720	$1,100	$1.53	3d	1	0.03mi
8405 Buffalo Ave Niagara Falls, NY	2.0	1.0	706	$850	$1.20	12d	1	0.18mi
730 66th St Niagara Falls, NY	2.0	1.0	748	$963	$1.29	2d	1	1.48mi

HOA detail condo

• Monthly dues: $125 · $1,500/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-02
   status $96,500 Pending 23 DOM
2. 2026-06-01
   days on market $96,500 Active Under Contract 23 DOM
3. 2026-05-31
   days on market $96,500 Active Under Contract 22 DOM
4. 2026-05-15
   historical Active Under Contract
5. 2026-05-08
   listed $96,500 Active
6. 2014-05-13
   historical 111-char remark

   Show marketing remark (111 chars)

   @ bedroom condo with laundry, eat in kitchen & all appliances included. Condo HOA fee's $60.00 per month.

7. 2014-04-30
   soldstatus $28,000 Closed Sale or Rented 111-char remark

   Show marketing remark (111 chars)

   @ bedroom condo with laundry, eat in kitchen & all appliances included. Condo HOA fee's $60.00 per month.

8. 2013-08-26
   listed $34,900
9. 2013-08-19
   listed $34,900 111-char remark

   Show marketing remark (111 chars)

   @ bedroom condo with laundry, eat in kitchen & all appliances included. Condo HOA fee's $60.00 per month.

10. 2002-02-22
    soldstatus $33,000

ⓘ 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: $556 · $46/mo
• Projected year-2 tax: $1,093 · $91/mo
• Expected delta: +$538/yr (+$45/mo · 96.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $13,207
• − Mortgage interest: −$5,406
• − Property taxes: −$556
• − Insurance: −$482
• − Repairs & maintenance: −$1,057
• − Management: −$1,057
• − HOA: −$1,500
• − Depreciation: −$2,807
• Taxable income: $343
• Est. tax owed @ 24.0%: −$82
• After-tax cash flow: $1,740/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

+192.4% since first listed

7 events — show timeline

• 2026-05-15 Contingent — WNYREIS
• 2026-05-08 Listed $96,500 WNYREIS
• 2014-05-13 Listing Removed — WNYREIS
• 2014-04-30 Sold (MLS) $28,000 WNYREIS
• 2013-08-26 Listed $34,900 WNYREIS
• 2013-08-19 Listed $34,900 WNYREIS
• 2002-02-22 Sold (Public Records) $33,000 Public Records

Property tax history

-6.3%/yr

Latest (2025): $556 · +29.3% YoY. Source: county tax records.