1537 La Salle Ave · Niagara Falls, NY 14301

$229,900

6 bd · 2.0 ba · 1,924 sqft · MultiFamily public records · 101 Days on market

Built 1920 3,696 sqft lot $119/sqft · 44% above area Est $159k · 44% 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 +25.8/30.0
• Appreciation +10.0/10.0
• DSCR +8.6/10.0
• 1% rule +6.3/10.0
• 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 MLS

* * * Running 2-unit Airbnb business for sale. * * * * * * Invest today, earn tomorrow. * * * Turnkey investment opportunity. The sale includes the fully operating 2-unit Airbnb business along with the property, all furniture, appliances, and existing setup. Welcome to 1537 La Salle Avenue in Niagara Falls, located in a designated short-term rental zone. This fully furnished two-family home is currently operating as an active Airbnb, immediate income potential for the next owner. Each unit features 3 bedrooms, 1 full bathroom, a living room, and an eat-in kitchen. Both units are fully furnished and set up for short-term rentals, allowing the new owner a smooth transition to continue the established business from day one. The sale includes the current furnishings and operational setup, making it a true turnkey opportunity. Conveniently located near major tourist attractions, this property is well positioned for short-term rental demand.

Key facts

• Active airbnb
• 3,696 sq ft lot
• 2 parking spots

Tags

• TURNKEY INVESTMENT OPPORTUNITY
• FULLY OPERATING 2-UNIT AIRBNB
• ACTIVE AIRBNB
• IMMEDIATE INCOME POTENTIAL

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $230k.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive. Per door: $277/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Recommended offer: $209k (9.0% below list) — sets the bar for market timing.

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; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• At $2,591/mo this rent would consume 90% 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 $25k of equity ($2k loan paydown + $23k 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 $64k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 4 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 $58k; list at $230k implies a 300% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $209,209 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.13% ✓
• Cap rate: 9.19%
• Cash-on-cash: 10.34%
• DSCR: 1.46
• GRM: 7.4

CMA / ARV

• ARV (median comp): $159,323
• List price: $229,900
• Delta: 44.30%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
541 20th St	0.55mi	5/2.0 (-1)	1,917 (-0%)	1mo	$112,000	$58	68
2449 Grand Ave	0.62mi	5/2.0 (-1)	1,918 (-0%)	4mo	$135,000	$70	62
1811 Weston Ave	0.40mi	5/3.0 (-1)	1,998 (+4%)	6mo	$140,000	$70	61
2219 Walnut Ave	0.59mi	6/3.0	2,023 (+5%)	4mo	$62,500	$31	57
2225 Whitney Ave	0.39mi	6/2.0	2,200 (+14%)	3mo	$125,000	$57	56
2401 Whitney Ave	0.48mi	6/2.0	2,168 (+13%)	2mo	$40,000	$18	55
814 Willow Ave	0.59mi	5/2.0 (-1)	2,072 (+8%)	2mo	$140,000	$68	53
2460 Grand Ave	0.62mi	6/2.0	2,162 (+12%)	0mo	$175,000	$81	50
2254 Grand Ave	0.50mi	5/2.0 (-1)	1,748 (-9%)	8mo	$149,000	$85	50
1635 South Ave	0.42mi	5/2.0 (-1)	2,208 (+15%)	2mo	$85,000	$38	49
2133 North Ave	0.74mi	6/2.0	2,048 (+6%)	9mo	$170,000	$83	47
417 18th St	0.74mi	6/2.0	2,080 (+8%)	10mo	$166,000	$80	43

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: 34.0%
• Equity multiple: 3.71×
• Total profit: $174,194
• Equity at exit: $207,112

10-year hold

• IRR: 31.0%
• Equity multiple: 9.06×
• Total profit: $519,087
• Equity at exit: $446,645

Cash invested: $64,372 (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: 14.8×

Monthly cashflow live

• Estimated rent: $2,591 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$191 /mo · $2,293/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$544
• Net cashflow: $554

Break-even live

Break-even rent $1,889

Max offer price $229,900

Occupancy floor 74%

Sensitivity live

Price	-10% $685	-5% $620	+0% $554	+5% $489	+10% $424
Rent	-10% $350	-5% $452	+0% $554	+5% $657	+10% $759
Rate	-1.0pp $670	-0.5pp $613	base $554	+0.5pp $495	+1.0pp $434

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,592
Total (2 units)			$2,591

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3225 Belden Pl Niagara Falls, NY	5.0	1.5	1344	$1,750	$1.30	2d	1	1.35mi

Listing history 24 events

1. 2026-06-18
   days on market $229,900 Active 101 DOM
2. 2026-06-17
   days on market $229,900 Active 100 DOM
3. 2026-06-16
   days on market $229,900 Active 99 DOM
4. 2026-06-15
   days on market $229,900 Active 98 DOM
5. 2026-06-13
   days on market $229,900 Active 96 DOM
6. 2026-06-13
   days on market $229,900 Active 95 DOM
7. 2026-06-10
   days on market $229,900 Active 93 DOM
8. 2026-06-09
   days on market $229,900 Active 92 DOM
9. 2026-06-08
   days on market $229,900 Active 91 DOM
10. 2026-06-07
    days on market $229,900 Active 90 DOM
11. 2026-06-03
    days on market $229,900 Active 86 DOM
12. 2026-06-02
    days on market $229,900 Active 85 DOM
13. 2026-06-01
    days on market $229,900 Active 84 DOM
14. 2026-05-31
    days on market $229,900 Active 83 DOM
15. 2026-03-09
    listed $229,900 Active 966-char remark

    Show marketing remark (966 chars)

    * * * Running 2-unit Airbnb business for sale. * * * * * * Invest today, earn tomorrow. * * * Turnkey investment opportunity. The sale includes the fully operating 2-unit Airbnb business along with the property, all furniture, appliances, and existing setup. Welcome to 1537 La Salle Avenue in Niagara Falls, located in a designated short-term rental zone. This fully furnished two-family home is currently operating as an active Airbnb, immediate income potential for the next owner. Each unit features 3 bedrooms, 1 full bathroom, a living room, and an eat-in kitchen. Both units are fully furnished and set up for short-term rentals, allowing the new owner a smooth transition to continue the established business from day one. The sale includes the current furnishings and operational setup, making it a true turnkey opportunity. Conveniently located near major tourist attractions, this property is well positioned for short-term rental demand.

16. 2025-09-26
    status Active
17. 2025-09-26
    historical
18. 2025-07-23
    status Pending
19. 2025-07-17
    listed $169,900 Active
20. 2023-12-11
    soldstatus $57,500
21. 2017-11-30
    soldstatus $39,000
22. 2012-02-10
    soldstatus $19,500
23. 2012-02-10
    soldstatus $19,500
24. 2011-07-20
    listed $29,900

ⓘ 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: $2,293 · $191/mo
• Projected year-2 tax: $3,089 · $257/mo
• Expected delta: +$796/yr (+$66/mo · 34.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $31,092
• − Mortgage interest: −$12,878
• − Property taxes: −$2,293
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,487
• − Management: −$2,487
• − Depreciation: −$6,688
• Taxable income: $3,109
• Est. tax owed @ 24.0%: −$746
• After-tax cash flow: $5,907/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.

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

+668.9% since first listed

10 events — show timeline

• 2026-03-09 Listed $229,900 WNYREIS
• 2025-09-26 Relisted — WNYREIS
• 2025-09-26 Listing Removed — WNYREIS
• 2025-07-23 Pending — WNYREIS
• 2025-07-17 Listed $169,900 WNYREIS
• 2023-12-11 Sold (Public Records) $57,500 Public Records
• 2017-11-30 Sold (Public Records) $39,000 Public Records
• 2012-02-10 Sold (Public Records) $19,500 Public Records
• 2012-02-10 Sold (MLS) $19,500 WNYREIS
• 2011-07-20 Listed $29,900 WNYREIS

Property tax history

+3.2%/yr

Latest (2025): $2,293 · -0.0% YoY. Source: county tax records.