364 9th St · Niagara Falls, NY 14303

$119,900

6 bd · 2.0 ba · 2,312 sqft · Other public records · 99 Days on market

Built 1910 4,356 sqft lot $52/sqft · 30% below area Est $239k · 50% under

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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 +28.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +2.3/10.0

Listing remarks MLS

Investment opportunity in Niagara Falls featuring two structures on one lot located near Seneca Niagara Resort & Casino and Niagara Falls State Park. The front building is a brick side-by-side duplex, with each unit offering three bedrooms, a living room, and a dining room, along with separate basements and attic spaces. The attics are semi-finished, providing additional space that may offer flexibility during renovation. A second structure on the lot is a two-bedroom single-family home, adding additional space and potential for renovation. Both structures require rehabilitation and present an opportunity for buyers looking to restore and improve multiple buildings on the same parcel. Conveniently situated near local attractions, restaurants, and entertainment, the property also offers access to the Robert Moses Parkway and surrounding areas. The nearby property at 352 9th St may be available as part of a package purchase, creating a potential multi-property investment opportunity.

Key facts

• Separate basements
• Semi-finished attics
• 4,356 sq ft lot

Tags

• TWO STRUCTURES ON ONE LOT
• BRICK SIDE-BY-SIDE DUPLEX
• SEPARATE BASEMENTS
• SEMI-FINISHED ATTICS
• TWO-BEDROOM SINGLE-FAMILY HOME
• ACCESS TO ROBERT MOSES PARKWAY

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath other listed at $120k.

Deal economics

• At list price, monthly cash flow is $406 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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: 74 active listings in the ZIP; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• At $1,722/mo this rent would consume 45% of the median local household income ($46k/yr) (locally 230% 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 $829 of loan paydown is wiped out by about $4k 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 + 3.0% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $53k; list at $120k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,109 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.44% ✓
• Cap rate: 10.35%
• Cash-on-cash: 14.50%
• DSCR: 1.65
• GRM: 5.8

CMA / ARV

• ARV (median comp): $239,262
• List price: $119,900
• Delta: -49.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 5.0%
• Equity multiple: 1.19×
• Total profit: $6,513
• Equity at exit: $17,877

10-year hold

• IRR: 14.5%
• Equity multiple: 2.17×
• Total profit: $39,363
• Equity at exit: $10,367

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 14303

• Home prices YoY: -1.7%
• Active inventory: 74
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,722 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$276 /mo · $3,314/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $406

Break-even live

Break-even rent $1,209

Max offer price $119,900

Occupancy floor 71%

Sensitivity live

Price	-10% $474	-5% $440	+0% $406	+5% $372	+10% $338
Rent	-10% $270	-5% $338	+0% $406	+5% $474	+10% $542
Rate	-1.0pp $466	-0.5pp $436	base $406	+0.5pp $375	+1.0pp $343

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: —

Listing history 18 events

1. 2026-06-21
   days on market $119,900 Active 99 DOM
2. 2026-06-18
   days on market $119,900 Active 96 DOM
3. 2026-06-17
   days on market $119,900 Active 95 DOM
4. 2026-06-16
   days on market $119,900 Active 94 DOM
5. 2026-06-15
   days on market $119,900 Active 93 DOM
6. 2026-06-13
   days on market $119,900 Active 91 DOM
7. 2026-06-13
   days on market $119,900 Active 90 DOM
8. 2026-06-10
   days on market $119,900 Active 88 DOM
9. 2026-06-09
   days on market $119,900 Active 87 DOM
10. 2026-06-08
    days on market $119,900 Active 86 DOM
11. 2026-06-07
    days on market $119,900 Active 85 DOM
12. 2026-06-03
    days on market $119,900 Active 81 DOM
13. 2026-06-02
    days on market $119,900 Active 80 DOM
14. 2026-06-01
    days on market $119,900 Active 79 DOM
15. 2026-05-31
    days on market $119,900 Active 78 DOM
16. 2026-03-14
    listed $119,900 Active 1002-char remark

    Show marketing remark (1002 chars)

    Investment opportunity in Niagara Falls featuring two structures on one lot located near Seneca Niagara Resort & Casino and Niagara Falls State Park. The front building is a brick side-by-side duplex, with each unit offering three bedrooms, a living room, and a dining room, along with separate basements and attic spaces. The attics are semi-finished, providing additional space that may offer flexibility during renovation. A second structure on the lot is a two-bedroom single-family home, adding additional space and potential for renovation. Both structures require rehabilitation and present an opportunity for buyers looking to restore and improve multiple buildings on the same parcel. Conveniently situated near local attractions, restaurants, and entertainment, the property also offers access to the Robert Moses Parkway and surrounding areas. The nearby property at 352 9th St may be available as part of a package purchase, creating a potential multi-property investment opportunity.

17. 2023-10-26
    soldstatus $53,000
18. 2005-01-04
    soldstatus $40,000

ⓘ 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: $3,314 · $276/mo
• Projected year-2 tax: $3,314 · $276/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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,667
• − Mortgage interest: −$6,716
• − Property taxes: −$3,314
• − Insurance: −$600
• − Repairs & maintenance: −$1,653
• − Management: −$1,653
• − Depreciation: −$3,488
• Taxable income: $3,243
• Est. tax owed @ 24.0%: −$778
• After-tax cash flow: $4,090/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): 6,156
• Household income: $45,646
• Rent vs Own: 55.7% rent · 44.3% own
• Severe rent burden: 230.0

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 0.68)
• Race & ethnicity: White 53% Two or more races 18% Hispanic / Latino 15% Black 12% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 6%
• Common ancestry: Romanian 12% Lithuanian 2% Iranian 1%
• Foreign-born: 3%
• Languages at home: 93% English-only · Other Indo-European 3% Spanish 3% 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: ▼ -5.37%
• Current HPI: 311.8094
• 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

+199.8% since first listed

3 events — show timeline

• 2026-03-14 Listed $119,900 WNYREIS
• 2023-10-26 Sold (Public Records) $53,000 Public Records
• 2005-01-04 Sold (Public Records) $40,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $3,314 · +19.3% YoY. Source: county tax records.