761 Lee Ave · North Tonawanda, NY 14120

$169,900

3 bd · 1.0 ba · 832 sqft · SingleFamily public records · 8 Days on market

Built 1935 4,680 sqft lot $204/sqft · 33% below area Est $252k · 33% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.6/30.0
• DSCR +4.4/10.0
• Schools +4.2/10.0
• Livability +4.2/5.0
• Rent growth +4.0/5.0
• 1% rule +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

761 Lee Ave is proof that smart updates and smart layout matter more than square footage. This Energy Star Certified ranch lives noticeably larger than you’d expect, with 3 bedrooms, an updated full bath, an eat-in kitchen, bright living room, and additional family room space in the basement for everyday living, hobbies, or game nights. Thoughtful design choices throughout make the home feel especially functional, including a clever refrigerator placement tucked over the basement stair area to free up valuable kitchen space and improve the overall layout. The kitchen also features Corian counters and a hands-free sink for added convenience. Over the past 20 years, the owners completed

Key facts

• Corian counters
• Updated full bath
• Bright living room

Tags

• ENERGY STAR CERTIFIED
• UPDATED FULL BATH
• EAT-IN KITCHEN
• BRIGHT LIVING ROOM
• CORIAN COUNTERS
• HANDS-FREE SINK

Property features AI

Finance

• Other: Some energy-efficient features for appliances, HVAC, lighting, and windows

Exterior

• Parking: Detached garage with electricity, storage and workshop space; Driveway parking
• Utilities: Electricity connected with circuit breakers; Public water connected; Sewer connected
• Home design: Single-story home; Resale property; City street frontage; Rectangular residential lot (approx. 40 x 117)
• Construction: Built existing (year not specified); Shake and vinyl siding; Asphalt and metal roof; Block foundation; Attic/crawl hatchway(s) insulated; PEX plumbing
• Exterior features: Blacktop driveway; Fully fenced yard; Open patio and porch; Patio; Porch

Interior

• Kitchen: Electric oven and electric range; Microwave; Dishwasher; Refrigerator; Solid surface counters; Eat-in layout
• Bedrooms: Three main-level bedrooms
• Flooring: Hardwood; Carpet; Ceramic tile; Luxury vinyl; Varies
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Entrance foyer; Eat-in kitchen; Separate/formal living room; Pull-down attic stairs; Storage; Solid surface counters; Natural woodwork; Main level bedroom(s); Main level primary; Accessible doors; No stairs (accessible)
• Laundry & utility: Washer and dryer included; Laundry room located in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $40 ($480/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (12.6% below list).
• Recommended offer: $148k (12.6% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.0% in North Tonawanda — 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 85/100 on livability (#30 in NY, #518 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+.
• North Tonawanda City School District (suburban): math 42% / reading 57% proficiency, ranked #398 of 590 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.0%/yr); 178 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 10d 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 $1k of loan paydown is wiped out by about $5k 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $148,451 (12.6% below list)

Questions for the listing agent

1. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.87% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.01%
• DSCR: 1.04
• GRM: 9.5

CMA / ARV

• ARV (median comp): $252,273
• List price: $169,900
• Delta: -32.65%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
979 Nash Rd	0.07mi	3/1.0	808 (-3%)	19mo	$220,000	$272	76
33 Jesella Dr	0.40mi	3/1.0	864 (+4%)	13mo	$165,000	$191	64
922 Nash Rd	0.16mi	3/1.0	776 (-7%)	22mo	$205,000	$264	63
821 Revere Ave	0.13mi	3/1.5	936 (+12%)	17mo	$183,000	$196	57
317 Hedwig Dr	0.62mi	3/1.0	854 (+3%)	13mo	$243,500	$285	56
45 Jesella Dr	0.38mi	2/1.0 (-1)	864 (+4%)	18mo	$208,000	$241	56
953 Erie Ave	0.59mi	3/1.0	906 (+9%)	12mo	$195,000	$215	48
959 Erie Ave	0.59mi	2/1.0 (-1)	816 (-2%)	24mo	$90,000	$110	44
104 Oakwood	0.54mi	2/1.0 (-1)	720 (-14%)	8mo	$210,000	$292	41
114 Oakwood Ter	0.54mi	2/1.5 (-1)	900 (+8%)	19mo	$140,000	$156	39
1269 Master St	0.57mi	3/2.0	950 (+14%)	22mo	$270,000	$284	27

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 · 5.96% rent growth · sell at horizon

5-year hold

• IRR: -11.5%
• Equity multiple: 0.57×
• Total profit: $-20,433
• Equity at exit: $25,333

10-year hold

• IRR: 1.4%
• Equity multiple: 1.11×
• Total profit: $5,328
• Equity at exit: $14,690

Cash invested: $47,572 (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 14120

• Rents YoY: 6.0%
• Active inventory: 178
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,485 high
• Mortgage (P&I): −$891
• Tax from tax record: −$171 /mo · $2,052/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $40

Break-even live

Break-even rent $1,434

Max offer price $169,900

Occupancy floor 92%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
757 Remington Dr Unit 1 North Tonawanda, NY	3.0	1.5	1100	$1,750	$1.59	10d	1	0.24mi
317 Hedwig Dr Unit N North Tonawanda, NY	3.0	1.0	864	$1,350	$1.56	10d	1	0.61mi
1400 Nash Rd North Tonawanda, NY	1.0–2.0	1.0	750	$1,225	$1.63	1d	1	0.78mi
175 12th Ave North Tonawanda, NY	3.0	1.0	1000	$1,600	$1.60	43d	1	0.88mi
399 Miller St North Tonawanda, NY	2.0	1.0	750	$1,250	$1.67	23d	1	0.95mi
125 3rd Ave North Tonawanda, NY	2.0	1.0	900	$1,100	$1.22	43d	1	1.06mi
900 E Robinson St North Tonawanda, NY	2.0	1.0	900	$1,350	$1.50	1d	1	1.24mi
600 River Rd North Tonawanda, NY	1.0–3.0	1.0–2.5	1320	$4,995	$3.78	1d	12	1.44mi

Listing history 2 events

1. 2026-05-14
   status Pending 1313-char remark
2. 2026-05-06
   listed $169,900 Active 1313-char remark

ⓘ 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: $2,052 · $171/mo
• Projected year-2 tax: $2,461 · $205/mo
• Expected delta: +$410/yr (+$34/mo · 20.0%)

ⓘ 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,814
• − Mortgage interest: −$9,517
• − Property taxes: −$2,052
• − Insurance: −$850
• − Repairs & maintenance: −$1,425
• − Management: −$1,425
• − Depreciation: −$4,943
• Taxable loss: −$2,397
• Est. tax savings @ 24.0%: +$575
• After-tax cash flow: $1,056/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: North Tonawanda City School District
• NCES district ID: 3621240
• Math proficiency: 42% ▼ -16.00%
• Reading proficiency: 57% ▲ 4.00%
• Median HH income: $48,348
• Composite: 42.15/100
• National rank: #3301
• State rank: #398 of 590 in NY

Livability — North Tonawanda

• Score: 85/100
• State rank: #30
• US rank: #518

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Tonawanda, NY
• County: Niagara County · 157,377 people
• City population: 44,241
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 44,241
• Household income: $74,871
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 1303.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Black 2%
• Common ancestry: Romanian 15% Lithuanian 2% Slovak 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Russian/Polish/Slavic 2% Spanish 1% Other Indo-European 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: ▼ -260.39%
• Current HPI: 303.1744
• Rent YoY: ▲ 5.96%
• 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

2 events — show timeline

• 2026-05-14 Pending — WNYREIS
• 2026-05-06 Listed $169,900 WNYREIS

Property tax history

+5.3%/yr

Latest (2025): $2,052 · +2.1% YoY. Source: county tax records.