919 Cedar Ave · Niagara Falls, NY 14301

$99,999

6 bd · 2.0 ba · 1,800 sqft · MultiFamily public records · 45 Days on market

Built 1910 2,200 sqft lot $56/sqft · 42% below area Est $172k · 42% under ↓ 56% since listing

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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

Welcome to 919 Cedar Avenue! This property offers an unbeatable location, situated directly across the street from one of the busiest plazas in Niagara Falls. Located within the Airbnb zone, this two-family home presents excellent potential for short-term rental income or investment. Each unit features 2 bedrooms, and the property includes central air along with a newer roof. The home is mostly gutted, giving you a head start on renovations and the opportunity to design it to your vision. Whether you're looking for your next Airbnb, flip, or long-term investment, this property is full of potential. This property may also be available as part of a package deal, including 608 20th Street, 545

Key facts

• 2,200 sq ft lot
• Built 1910
• Listed 45 days

Property features AI

Finance

• Other: Lot dimensions approximately 44 x 50
• Financial info: Two total units; Operating expense details: see remarks; Owner pays: other/see remarks; Rent includes: see remarks
• HOA & community: No HOA information provided

Exterior

• Parking: No driveway
• Security: No security features provided
• Utilities: Public water connected; Sewer connected
• Home design: Two-story multifamily property; Resale condition
• Construction: Composite siding; Existing (previously built)
• Exterior features: Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas water heater noted (appliance information limited)
• Bedrooms: Two 3-bedroom units
• Flooring: No flooring information provided
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced air heating
• Interior features: Full basement
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $100k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $641/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.7% 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; lower-income renter base — watch delinquency; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• At $2,481/mo this rent would consume 86% 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 $11k of equity ($691 loan paydown + $10k 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 $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $26k; list at $100k implies a 292% 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 $96,999 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% 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. 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 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: 2.48% ✓
• Cap rate: 21.67%
• Cash-on-cash: 54.90%
• DSCR: 3.44
• GRM: 3.4

CMA / ARV

• ARV (median comp): $172,017
• List price: $99,999
• Delta: -41.87%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1514 Whitney Ave	0.49mi	5/2.0 (-1)	1,824 (+1%)	19mo	$55,000	$30	54
541 20th St	0.74mi	5/2.0 (-1)	1,917 (+6%)	1mo	$112,000	$58	49
466 6th St	0.48mi	7/3.0 (+1)	1,901 (+6%)	16mo	$120,000	$63	46
769 19th St	0.63mi	6/2.5	1,920 (+7%)	16mo	$150,000	$78	45
514 15th St	0.47mi	6/2.0	1,992 (+11%)	20mo	$50,000	$25	44
1402 Walnut Ave	0.36mi	6/2.0	2,033 (+13%)	21mo	$135,000	$66	44
445 6th St	0.50mi	5/3.0 (-1)	2,016 (+12%)	22mo	$72,000	$36	30

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: 71.7%
• Equity multiple: 6.33×
• Total profit: $149,193
• Equity at exit: $90,087

10-year hold

• IRR: 67.4%
• Equity multiple: 15.56×
• Total profit: $407,729
• Equity at exit: $194,276

Cash invested: $28,000 (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: 6.7×

Monthly cashflow live

• Estimated rent: $2,481 high
• Mortgage (P&I): −$524
• Tax from tax record: −$113 /mo · $1,355/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$521
• Net cashflow: $1,281

Break-even live

Break-even rent $859

Max offer price $99,999

Occupancy floor 43%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,482
Total (2 units)			$2,481

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $99,999 Active 45 DOM
2. 2026-06-17
   days on market $99,999 Active 44 DOM
3. 2026-06-16
   days on market $99,999 Active 43 DOM
4. 2026-06-15
   days on market $99,999 Active 42 DOM
5. 2026-06-13
   days on market $99,999 Active 40 DOM
6. 2026-06-13
   days on market $99,999 Active 39 DOM
7. 2026-06-10
   days on market $99,999 Active 37 DOM
8. 2026-06-09
   days on market $99,999 Active 36 DOM
9. 2026-06-08
   days on market $99,999 Active 35 DOM
10. 2026-06-07
    days on market $99,999 Active 34 DOM
11. 2026-06-03
    days on market $99,999 Active 30 DOM
12. 2026-06-02
    days on market $99,999 Active 29 DOM
13. 2026-06-01
    days on market $99,999 Active 28 DOM
14. 2026-05-31
    days on market $99,999 Active 27 DOM
15. 2026-05-04
    listed $99,999 Active 736-char remark
16. 2008-05-30
    soldstatus $25,500
17. 2006-07-25
    soldstatus $227,000
18. 2006-07-25
    soldstatus $365,000

ⓘ 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: $1,355 · $113/mo
• Projected year-2 tax: $1,522 · $127/mo
• Expected delta: +$168/yr (+$14/mo · 12.4%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 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: $29,772
• − Mortgage interest: −$5,601
• − Property taxes: −$1,355
• − Insurance: −$500
• − Repairs & maintenance: −$2,382
• − Management: −$2,382
• − Depreciation: −$2,909
• Taxable income: $14,643
• Est. tax owed @ 24.0%: −$3,514
• After-tax cash flow: $11,858/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

-55.9% since first listed

4 events — show timeline

• 2026-05-04 Listed $99,999 WNYREIS
• 2008-05-30 Sold (Public Records) $25,500 Public Records
• 2006-07-25 Sold (Public Records) $365,000 Public Records
• 2006-07-25 Sold (Public Records) $227,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $1,355 · +19.3% YoY. Source: county tax records.