340 Park Ave · Lockport, NY 14094

$134,900

3 bd · 2.0 ba · 1,762 sqft · MultiFamily public records · 57 Days on market

Built 1900 4,792 sqft lot Est $100k · 34% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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 MLS

offers being reviewed Thursday at 2pm. 2 family with vinyl siding, glass block basement windows and separate gas/electric meters. A LOT of potential here for a handy individual to come finish some minor repairs! 3 bedroom 1 bath lower unit with a large living room and all good sized bedrooms. Master bedroom has walk-in closet. Upper unit is very clean and ready to go! If you're an investor or considering your first investment this is a solid home to consider. Repairs will limit finance options. Call for your appointment today!

Key facts

• Strong cash flow
• Fully leased
• Tenant occupied

Tags

• FULLY LEASED
• IMMEDIATE RENTAL INCOME
• STRONG CASH FLOW
• TENANT OCCUPIED
• GENERATES RENTAL INCOME
• DESIRABLE CORNER LOT

Property features AI

Finance

• Financial info: Property operates as a 2-unit building with separate gas and electric meters for each unit; Owner pays trash collection and water; Operating expenses include trash and water; Both units currently leased (rents listed): one unit at $850, the other at $950; leases expire January 31, 2027

Exterior

• Parking: Concrete parking with two or more spaces
• Utilities: Public water (connected); Sewer connected
• Home design: 2-story multi-family property; Resale property; Vinyl siding
• Construction: Vinyl siding construction; Existing (previously built) structure; 2 stories
• Exterior features: Corner, rectangular lot (approx. 39 x 88)

Interior

• Kitchen: Each unit includes an eat-in kitchen with oven/range and refrigerator
• Bedrooms: One unit with 2 bedrooms; One unit with 3 bedrooms
• Flooring: Carpet; Vinyl; Varied flooring
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Carpet and vinyl flooring; varies by room
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $135k.

Deal economics

• At list price, monthly cash flow is $960 ($12k/yr) — positive. Per door: $480/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.8% vs local median 4.5% 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); 362 active listings in the ZIP; solid renter incomes; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 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 $38k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $52k; list at $135k implies a 159% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,853 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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 1900 — 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 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?
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: 1.84% ✓
• Cap rate: 14.83%
• Cash-on-cash: 30.49%
• DSCR: 2.36
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $100,434
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25 S New York St	0.16mi	4/2.0 (+1)	1,980 (+12%)	16mo	$113,500	$57	54

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: 26.0%
• Equity multiple: 2.09×
• Total profit: $41,032
• Equity at exit: $20,114

10-year hold

• IRR: 34.1%
• Equity multiple: 4.22×
• Total profit: $121,778
• Equity at exit: $11,664

Cash invested: $37,772 (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 14094

• Rents YoY: 3.7%
• Active inventory: 362
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,484 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$239 /mo · $2,868/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$522
• Net cashflow: $960

Break-even live

Break-even rent $1,269

Max offer price $134,900

Occupancy floor 56%

Sensitivity live

Price	-10% $1,036	-5% $998	+0% $960	+5% $922	+10% $883
Rent	-10% $763	-5% $862	+0% $960	+5% $1,058	+10% $1,156
Rate	-1.0pp $1,028	-0.5pp $994	base $960	+0.5pp $925	+1.0pp $889

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,484
Total (2 units)			$2,484

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-05-21
   historical Active Under Contract
2. 2026-05-04
   price $134,900
3. 2026-04-28
   status Active
4. 2026-03-30
   status Pending
5. 2026-03-03
   listed $144,900 Active
6. 2022-09-05
   historical
7. 2022-06-03
   listed $142,500 Active
8. 2020-01-09
   soldstatus $52,000 Closed Sale or Rented 532-char remark

   Show marketing remark (532 chars)

   offers being reviewed Thursday at 2pm. 2 family with vinyl siding, glass block basement windows and separate gas/electric meters. A LOT of potential here for a handy individual to come finish some minor repairs! 3 bedroom 1 bath lower unit with a large living room and all good sized bedrooms. Master bedroom has walk-in closet. Upper unit is very clean and ready to go! If you're an investor or considering your first investment this is a solid home to consider. Repairs will limit finance options. Call for your appointment today!

9. 2019-12-30
   soldstatus $52,000
10. 2019-07-19
    status Pending Sale 532-char remark

    Show marketing remark (532 chars)

    offers being reviewed Thursday at 2pm. 2 family with vinyl siding, glass block basement windows and separate gas/electric meters. A LOT of potential here for a handy individual to come finish some minor repairs! 3 bedroom 1 bath lower unit with a large living room and all good sized bedrooms. Master bedroom has walk-in closet. Upper unit is very clean and ready to go! If you're an investor or considering your first investment this is a solid home to consider. Repairs will limit finance options. Call for your appointment today!

11. 2019-07-15
    listed $50,000 Active 532-char remark

    Show marketing remark (532 chars)

    offers being reviewed Thursday at 2pm. 2 family with vinyl siding, glass block basement windows and separate gas/electric meters. A LOT of potential here for a handy individual to come finish some minor repairs! 3 bedroom 1 bath lower unit with a large living room and all good sized bedrooms. Master bedroom has walk-in closet. Upper unit is very clean and ready to go! If you're an investor or considering your first investment this is a solid home to consider. Repairs will limit finance options. Call for your appointment today!

12. 2017-12-08
    historical
13. 2017-04-19
    listed $63,900 Active
14. 2015-06-30
    historical
15. 2015-05-13
    listed $59,500 Active
16. 2005-09-27
    soldstatus $56,000

ⓘ 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: $2,868 · $239/mo
• Projected year-2 tax: $2,868 · $239/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 3/10 Moderate
• 🌡 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: $29,808
• − Mortgage interest: −$7,556
• − Property taxes: −$2,868
• − Insurance: −$674
• − Repairs & maintenance: −$2,385
• − Management: −$2,385
• − Depreciation: −$3,924
• Taxable income: $10,015
• Est. tax owed @ 24.0%: −$2,404
• After-tax cash flow: $9,113/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: 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

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 · 157,377 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: 1112.0

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 (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%

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

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

+140.9% since first listed

16 events — show timeline

• 2026-05-21 Contingent — WNYREIS
• 2026-05-04 Price Changed $134,900 WNYREIS
• 2026-04-28 Relisted — WNYREIS
• 2026-03-30 Pending — WNYREIS
• 2026-03-03 Listed $144,900 WNYREIS
• 2022-09-05 Listing Removed — WNYREIS
• 2022-06-03 Listed $142,500 WNYREIS
• 2020-01-09 Sold (MLS) $52,000 WNYREIS
• 2019-12-30 Sold (Public Records) $52,000 Public Records
• 2019-07-19 Pending — WNYREIS
• 2019-07-15 Listed $50,000 WNYREIS
• 2017-12-08 Listing Removed — WNYREIS
• 2017-04-19 Listed $63,900 WNYREIS
• 2015-06-30 Listing Removed — WNYREIS
• 2015-05-13 Listed $59,500 WNYREIS
• 2005-09-27 Sold (Public Records) $56,000 Public Records

Property tax history

+6.7%/yr

Latest (2025): $2,868 · +3.5% YoY. Source: county tax records.