564 26th St · Niagara Falls, NY 14301

$159,900

4 bd · 2.0 ba · 1,956 sqft · MultiFamily public records · 220 Days on market

Built 1890 6,200 sqft lot Est $137k · 17% over ↓ 16% since listing

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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 +30.0/30.0
• 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
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks

Excellent investment opportunity in Niagara Falls! This well-maintained 2-unit home on a corner lot, 2 bedrooms and 1 full bath in each. The downstairs unit includes air conditioning. The home offers separate electric meters with one gas meter plus a 2 car garage. Tenants can enjoy a rare inground pool. The hot water tank is only 6 years old. Conveniently located near schools, shopping, and public transportation, this property is ideal for investors or owner-occupants looking to generate rental income while building equity.

Key facts

• 6,200 sq ft lot
• 2 garage spots
• Built 1890

Property features AI

Finance

• Financial info: Operating expenses include insurance, trash, and water/sewer; Owner pays heat; rent includes heat; Two rental units with reported rents of $525 each (one unit is month-to-month)

Exterior

• Parking: Attached garage; 2-car garage
• Utilities: Public water connected; Sewer connected; Circuit breaker electrical service
• Home design: Two-story building; Existing structure
• Construction: Brick and vinyl siding exterior; Shingle roof; Poured foundation
• Exterior features: Fully fenced yard; Corner lot; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas water heater (appliance noted)
• Bedrooms: Two-unit property: one unit with 3 bedrooms, one unit with 2 bedrooms
• Flooring: Carpet; Ceramic tile; Varies by area
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Central air; Wall unit(s); Gas heating; Forced air and radiant heating components
• Interior features: Full basement; Varied flooring throughout

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $687 ($8k/yr) — positive. Per door: $344/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• At $2,470/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 $17k of equity ($1k loan paydown + $16k 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 $45k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 220 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 220 days. Have you received any prior offers? Is the seller open to a 12% 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 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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?
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: 1.54% ✓
• Cap rate: 11.45%
• Cash-on-cash: 18.43%
• DSCR: 1.82
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $136,920
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
609 24th St	0.11mi	4/2.0	2,000 (+2%)	4mo	$140,000	$70	88
2449 Grand Ave	0.18mi	5/2.0 (+1)	1,918 (-2%)	4mo	$135,000	$70	80
2615 Ferry Ave	0.16mi	4/2.0	1,848 (-6%)	6mo	$115,000	$62	79
541 20th St	0.33mi	5/2.0 (+1)	1,917 (-2%)	1mo	$112,000	$58	76
2459 La Salle Ave	0.44mi	4/2.0	1,920 (-2%)	2mo	$160,000	$83	75
2219 Cudaback Ave	0.56mi	4/2.0	2,000 (+2%)	8mo	$80,000	$40	63
2455 La Salle Ave	0.43mi	4/2.0	2,152 (+10%)	3mo	$112,000	$52	61
2443 Pierce Ave	0.56mi	4/2.0	2,112 (+8%)	4mo	$120,000	$57	57
2409 La Salle Ave	0.45mi	4/2.0	2,154 (+10%)	6mo	$185,000	$86	57
346 Portage Rd	0.74mi	3/2.0 (-1)	1,940 (-1%)	4mo	$142,500	$73	56
2734 Forest Ave	0.37mi	4/2.0	2,208 (+13%)	7mo	$160,000	$72	55
1968 Cudaback Ave	0.56mi	4/3.0	1,848 (-6%)	8mo	$20,000	$11	54

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: 40.9%
• Equity multiple: 4.22×
• Total profit: $144,059
• Equity at exit: $144,051

10-year hold

• IRR: 37.4%
• Equity multiple: 10.43×
• Total profit: $422,404
• Equity at exit: $310,651

Cash invested: $44,772 (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 14301

• Home prices YoY: 6.2%
• Rents YoY: 8.8%
• Active inventory: 164
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,470 high
• Mortgage (P&I): −$839
• Tax from tax record: −$359 /mo · $4,304/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$519
• Net cashflow: $687

Break-even live

Break-even rent $1,600

Max offer price $159,900

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,470
Total (2 units)			$2,470

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2020 Forest Ave Niagara Falls, NY	4.0	2.0	1600	$1,500	$0.94	17d	1	0.46mi
2420 Mackenna Ave Unit 1 Niagara Falls, NY	4.0	1.0	1300	$1,390	$1.07	1d	1	0.54mi
3225 Belden Pl Niagara Falls, NY	5.0	1.5	1344	$1,750	$1.30	1d	1	0.59mi
784 15th St Niagara Falls, NY	3.0	1.5	1380	$1,350	$0.98	3d	1	0.74mi
642 Ashland Ave Niagara Falls, NY	3.0	1.0	1238	$1,100	$0.89	3d	1	1.38mi

Listing history 5 events

1. 2026-05-01
   status Pending
2. 2026-03-31
   price $159,900
3. 2026-03-11
   status Active
4. 2026-03-11
   price $169,900
5. 2025-09-22
   listed $190,000 Active

ⓘ 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: $4,304 · $359/mo
• Projected year-2 tax: $4,304 · $359/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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,640
• − Mortgage interest: −$8,957
• − Property taxes: −$4,304
• − Insurance: −$800
• − Repairs & maintenance: −$2,371
• − Management: −$2,371
• − Depreciation: −$4,652
• Taxable income: $6,185
• Est. tax owed @ 24.0%: −$1,485
• After-tax cash flow: $6,765/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

-15.8% since first listed

5 events — show timeline

• 2026-05-01 Pending — WNYREIS
• 2026-03-31 Price Changed $159,900 WNYREIS
• 2026-03-11 Relisted — WNYREIS
• 2026-03-11 Price Changed $169,900 WNYREIS
• 2025-09-22 Listed $190,000 WNYREIS

Property tax history

+13.8%/yr

Latest (2025): $4,304 · +4.9% YoY. Source: county tax records.