143 S Transit St · Lockport, NY 14094

$150,000

4 bd · 2.0 ba · 2,508 sqft · MultiFamily public records · 62 Days on market

Built 1903 Fair condition 8,276 sqft lot 2-car garage $60/sqft · 38% below area Est $241k · 38% 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
• Schools +6.9/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

This well-maintained two-unit property offers an excellent investment opportunity in a prime location close to local shops, dining, and transportation. Both units are vacant. Whether you’re expanding your portfolio or seeking a reliable income-producing property, this one combines stability, value, and long-term potential in a desirable area of Lockport. Showings only on Sundays.

Key facts

• Two-unit property
• Transportation
• Prime location

Tags

• TWO-UNIT PROPERTY
• INVESTMENT OPPORTUNITY
• PRIME LOCATION
• LOCAL SHOPS
• DINING
• TRANSPORTATION

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $150k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $928 ($11k/yr) — positive. Per door: $464/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.7% vs local median 3.0% in Lockport — 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 76/100 on livability (#232 in NY, #3,669 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute D+, crime F, employment D-.
• Lockport City School District (town): math 44% / reading 49% proficiency, ranked #452 of 590 in NY (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.7%/yr); 589 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 82d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $1k 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 + 3.7% rent growth), your $42k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 15y 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 $55k; list at $150k implies a 173% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $141,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.62% ✓
• Cap rate: 13.71%
• Cash-on-cash: 26.50%
• DSCR: 2.18
• GRM: 5.1

CMA / ARV

• ARV (median comp): $240,572
• List price: $150,000
• Delta: -37.65%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
156 Cottage St	0.21mi	5/2.0 (+1)	2,556 (+2%)	16mo	$145,000	$57	68
24 Waterman St	0.39mi	3/3.0 (-1)	2,560 (+2%)	15mo	$135,000	$53	57
217 Genesee St	0.52mi	5/2.0 (+1)	2,464 (-2%)	24mo	$87,500	$36	48
87 Locust St	0.52mi	5/3.0 (+1)	2,208 (-12%)	3mo	$20,000	$9	44
240 Pine St	0.29mi	5/2.0 (+1)	2,876 (+15%)	21mo	$174,000	$61	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.67% rent growth · sell at horizon

5-year hold

• IRR: 21.1%
• Equity multiple: 1.87×
• Total profit: $36,428
• Equity at exit: $22,365

10-year hold

• IRR: 29.6%
• Equity multiple: 3.73×
• Total profit: $114,691
• Equity at exit: $12,969

Cash invested: $42,000 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 8 active · 11 under contract
• Months of supply: 8.0 mo (12%/mo absorbed)
• Median asking: $149,900 ($65/sqft)
• Median days on market: 49 d
• This list price: 62% of active listings are priced below it
• ARV vs active asking: +46.8% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 14094

• Rents YoY: 3.7%
• Active inventory: 589
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,431 high
• Mortgage (P&I): −$787
• Tax from tax record: −$144 /mo · $1,726/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $928

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,432
Total (2 units)			$2,431

Break-even live

Break-even rent $1,257

Max offer price $150,000

Occupancy floor 57%

Sensitivity live

Price	-10% $1,012	-5% $970	+0% $928	+5% $885	+10% $843
Rent	-10% $735	-5% $832	+0% $928	+5% $1,024	+10% $1,120
Rate	-1.0pp $1,003	-0.5pp $966	base $928	+0.5pp $889	+1.0pp $849

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: $37,500
• Closing costs: $4,500
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
70 Harvey Ave Unit 5 Lockport, NY	1.0	1.0	—	$895	—	10d	1	0.17mi
172 High St Apt B Lockport, NY	1.0	1.0	350	$730	$2.09	110d	1	0.35mi
172 High St Lockport, NY	1.0	1.0	700	$850	$1.21	86d	1	0.35mi
42 Waterman St Lockport, NY	2.0	1.0	—	$950	—	99d	1	0.35mi
67 Waterman St Lockport, NY	1.0	1.0	—	$750	—	99d	1	0.36mi
47 Waterman St Unit 3 Lockport, NY	2.0	1.0	1100	$1,150	$1.05	119d	1	0.37mi
47 Waterman St Apt 2 Lockport, NY	1.0	1.0	700	$775	$1.11	10d	1	0.37mi
189 West Ave Unit 1 Lockport, NY	2.0	1.0	—	$1,130	—	6d	1	0.38mi
35 South St Lockport, NY	2.0	1.0	—	$900	—	10d	1	0.44mi
271 Locust St Lockport, NY	1.0	1.0	—	$975	—	10d	1	0.52mi
83 South St Lockport, NY	2.0	1.0	—	$950	—	62d	1	0.53mi
321 Washburn St Unit 1 Lockport, NY	3.0	1.0	—	$1,150	—	63d	1	0.59mi
327 High St Lockport, NY	1.0–2.0	1.0–2.0	690	$1,920	$2.78	0d	1	0.61mi
11 Beattie Ave Lockport, NY	3.0	1.0	1230	$1,800	$1.46	82d	1	0.82mi
574 S Transit St Lockport, NY	1.0–2.0	1.0	850	$1,055	$1.24	87d	1	0.89mi
303 Beattie Ave Apt 1 Lockport, NY	1.0	1.0	—	$950	—	65d	1	1.00mi
80 Charlotte St Unit 1 Lockport, NY	2.0	1.0	—	$975	—	97d	1	1.00mi
315 Beattie Ave Apt 2 Lockport, NY	1.0	1.0	—	$995	—	8d	1	1.03mi
315 Beattie Ave Unit 3 Lockport, NY	1.0	1.0	—	$995	—	99d	1	1.03mi
309 Beattie Ave Unit 4 Lockport, NY	1.0	1.0	—	$995	—	99d	1	1.03mi
321 Beattie Ave Unit 3 Lockport, NY	2.0	1.0	—	$1,025	—	119d	1	1.06mi
480 South St Lockport, NY	2.0	1.0	960	$1,200	$1.25	0d	2	1.24mi
4 Mc Cue Ave Unit Upper Lockport, NY	3.0	1.0	960	$1,100	$1.15	62d	1	1.40mi
53 Dayton St Lockport, NY	3.0	1.0	930	$1,150	$1.24	107d	1	1.42mi

Property features AI

Finance

• Other: Property contains 2 total units; both units currently month-to-month for at least one unit
• Financial info: Owner pays water; water included in rentOperating expenses may include insurance, professional management, and rent

Exterior

• Parking: Shared/common concrete parking with two or more spaces2-car garage
• Utilities: Public water connectedSewer connected
• Home design: 2-story buildingResale propertyShingle roofBrick and frame construction
• Construction: Block foundationBuilt (existing structure)
• Exterior features: Fully fenced yardLot is irregular and in a flood zone

Interior

• Kitchen: Gas water heater (appliance listed)
• Bedrooms: Two 3-bedroom units (both include living room; one unit also includes den/family room and porch)
• Flooring: HardwoodVaries
• Bathrooms: Each unit has 1 full bathroom (total 2 full bathrooms in the building)
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood and varied flooringPartial basement
• Laundry & utility: Separate gas meters for each unitSeparate electric meters for each unit

Listing history 50 events

1. 2026-09-14
   days on market $150,000 Active 62 DOM
2. 2026-09-13
   days on market $150,000 Active 61 DOM
3. 2026-09-12
   days on market $150,000 Active 60 DOM
4. 2026-09-11
   days on market $150,000 Active 59 DOM
5. 2026-09-05
   days on market $150,000 Active 53 DOM
6. 2026-09-04
   days on market $150,000 Active 52 DOM
7. 2026-09-03
   days on market $150,000 Active 51 DOM
8. 2026-08-31
   days on market $150,000 Active 48 DOM
9. 2026-08-29
   days on market $150,000 Active 46 DOM
10. 2026-08-28
    days on market $150,000 Active 45 DOM
11. 2026-08-27
    days on market $150,000 Active 44 DOM
12. 2026-08-26
    days on market $150,000 Active 43 DOM
13. 2026-08-25
    days on market $150,000 Active 42 DOM
14. 2026-08-24
    days on market $150,000 Active 41 DOM
15. 2026-08-23
    days on market $150,000 Active 40 DOM
16. 2026-08-22
    days on market $150,000 Active 39 DOM
17. 2026-08-21
    days on market $150,000 Active 38 DOM
18. 2026-08-20
    days on market $150,000 Active 37 DOM
19. 2026-08-19
    days on market $150,000 Active 36 DOM
20. 2026-08-18
    days on market $150,000 Active 35 DOM
21. 2026-08-17
    days on market $150,000 Active 34 DOM
22. 2026-08-16
    days on market $150,000 Active 33 DOM
23. 2026-08-15
    days on market $150,000 Active 32 DOM
24. 2026-08-14
    days on market $150,000 Active 31 DOM
25. 2026-08-13
    days on market $150,000 Active 30 DOM
26. 2026-08-12
    days on market $150,000 Active 29 DOM
27. 2026-08-11
    days on market $150,000 Active 28 DOM
28. 2026-08-10
    days on market $150,000 Active 27 DOM
29. 2026-08-09
    days on market $150,000 Active 26 DOM
30. 2026-08-08
    days on market $150,000 Active 25 DOM
31. 2026-08-07
    days on market $150,000 Active 24 DOM
32. 2026-08-06
    days on market $150,000 Active 23 DOM
33. 2026-08-05
    days on market $150,000 Active 22 DOM
34. 2026-08-04
    days on market $150,000 Active 21 DOM
35. 2026-08-03
    days on market $150,000 Active 20 DOM
36. 2026-07-31
    days on market $150,000 Active 17 DOM
37. 2026-07-30
    days on market $150,000 Active 16 DOM
38. 2026-07-30
    days on market $150,000 Active 15 DOM
39. 2026-07-28
    days on market $150,000 Active 14 DOM
40. 2026-07-26
    days on market $150,000 Active 12 DOM
41. 2026-07-24
    days on market $150,000 Active 10 DOM
42. 2026-07-23
    days on market $150,000 Active 9 DOM
43. 2026-07-22
    days on market $150,000 Active 8 DOM
44. 2026-07-21
    days on market $150,000 Active 7 DOM
45. 2026-07-20
    days on market $150,000 Active 6 DOM
46. 2026-07-18
    days on market $150,000 Active 4 DOM
47. 2026-07-18
    days on market $150,000 Active 3 DOM
48. 2026-07-16
    days on market $150,000 Active 2 DOM
49. 2026-07-15
    days on marketlisting id $150,000 Active 1 DOM
50. 2026-06-30
    days on market $150,000 Active 147 DOM

ⓘ 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: $1,726 · $144/mo
• Projected year-2 tax: $2,131 · $178/mo
• Expected delta: +$404/yr (+$34/mo · 23.4%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥95°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: $29,172
• − Mortgage interest: −$8,402
• − Property taxes: −$1,726
• − Insurance: −$750
• − Repairs & maintenance: −$2,334
• − Management: −$2,334
• − Depreciation: −$4,364
• Taxable income: $9,262
• Est. tax owed @ 24.0%: −$2,223
• After-tax cash flow: $8,907/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.

Condition & rehab AI · 3 photos

Fair 45/100 Moderate rehab Est. rehab $62,700–$112,860 screening

The property is in fair condition with average exterior and landscaping. Immediate repairs and maintenance are needed to improve its curb appeal and value.

Repairs flagged

• Major Landscaping — The overgrown landscaping significantly detracts from the curb appeal and needs immediate attention.
• Major Trimming — The overgrown landscaping needs trimming to improve the curb appeal and maintain a neat appearance.

Value-add opportunities

• Both Landscaping and trimming — Improving the landscaping and trimming will enhance the curb appeal and potentially attract more tenants or buyers. ↑
• Both Painting exterior — Painting the exterior will improve the home's appearance and potentially increase its value. ↑
• Both Landscaping and trimming — Maintaining the landscaping and trimming will keep the property looking well-maintained and attractive. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 69/100

Zoned Schools

Elementary Regan Intermediate School B NY #663/2,108 Nat'l #5,891/41,679 High Lockport High School B+ NY #659/1,100 Nat'l #1,751/17,239

Schools (NCES district)

• District: Lockport City School District
• NCES district ID: 3617670
• Math proficiency: 44% ▼ -7.00%
• Reading proficiency: 49% ▲ 3.00%
• Median HH income: $43,793
• Composite: 39.28/100
• National rank: #3997
• State rank: #452 of 590 in NY

B Composite livability gradescore 76/100

Livability — Lockport

• Score: 76/100
• State rank: #232
• US rank: #3669

Category grades

Amenities A+ Commute D+ Cost of living A+ Crime F Employment D- Housing A+ Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lockport, NY
• County: Niagara County · 204,149 people
• City population: 50,153
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 50,153
• Household income: $75,427
• Rent vs Own: 28.1% rent · 71.9% own
• Severe rent burden: 10% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 6% Black 6% Hispanic / Latino 3%
• Common ancestry: Romanian 9% Slovak 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 1% Russian/Polish/Slavic 1% Other Indo-European 1%

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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: ▼ -262.57%
• Current HPI: 303.6109
• Rent YoY: ▲ 3.67%
• Metro: Buffalo-Cheektowaga, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

Property features AI

Finance

• Other: Property contains 2 total units; both units currently month-to-month for at least one unit
• Financial info: Owner pays water; water included in rentOperating expenses may include insurance, professional management, and rent

Exterior

• Parking: Shared/common concrete parking with two or more spaces2-car garage
• Utilities: Public water connectedSewer connected
• Home design: 2-story buildingResale propertyShingle roofBrick and frame construction
• Construction: Block foundationBuilt (existing structure)
• Exterior features: Fully fenced yardLot is irregular and in a flood zone

Interior

• Kitchen: Gas water heater (appliance listed)
• Bedrooms: Two 3-bedroom units (both include living room; one unit also includes den/family room and porch)
• Flooring: HardwoodVaries
• Bathrooms: Each unit has 1 full bathroom (total 2 full bathrooms in the building)
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood and varied flooringPartial basement
• Laundry & utility: Separate gas meters for each unitSeparate electric meters for each unit

Price history

+316.7% since first listed

23 events — show timeline

• 2026-07-14 Listed $150,000 WNYREIS
• 2026-06-30 Listing Removed — WNYREIS
• 2026-02-03 Listed $150,000 WNYREIS
• 2026-01-04 Listing Removed — WNYREIS
• 2025-09-05 Price Changed $145,000 WNYREIS
• 2025-08-05 Listed $150,000 WNYREIS
• 2023-11-12 Listing Removed — WNYREIS
• 2023-08-15 Listed $164,900 WNYREIS
• 2023-03-25 Listing Removed — WNYREIS
• 2023-02-20 Listed $149,900 WNYREIS
• 2020-12-21 Sold (MLS) $55,000 WNYREIS
• 2020-09-09 Pending — WNYREIS
• 2020-08-30 Contingent — WNYREIS
• 2020-07-13 Listed $59,900 WNYREIS
• 2020-03-05 Listing Removed — WNYREIS
• 2019-12-05 Listed $64,900 WNYREIS
• 2015-04-09 Listing Removed — WNYREIS
• 2014-07-14 Listed $59,900 WNYREIS
• 2013-07-29 Listed $625 WNYREIS
• 2011-02-25 Listing Removed — WNYREIS
• 2011-02-15 Sold (MLS) $550 WNYREIS
• 2011-01-17 Listed $600 WNYREIS
• 1998-01-22 Sold (Public Records) $36,000 Public Records

Property tax history

-1.9%/yr

Latest (2025): $1,726 · +2.4% YoY. Source: county tax records.