141 Niagara St · Tonawanda, NY 14150

$199,900

2 bd · 2.0 ba · 1,239 sqft · MultiFamily public records · 36 Days on market

Built 1900 5,280 sqft lot

---

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
• ARV discount +7.5/15.0
• Livability +4.5/5.0
• Rent growth +4.2/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

For Sale: Exceptional 3-Unit Property in Prime Tonawanda Location! Discover a unique investment opportunity in one of the most sought-after areas of Tonawanda and North Tonawanda! This spacious triple unit is ideally located across the street from the beautiful Niawanda Park, just minutes away from shopping, town festivals, and lively concerts. Property Highlights: - Huge Double in Front: The lower unit boasts immense potential, perfect for use as a storefront, Airbnb, or short-term rental, making it a versatile investment. - Separate Garage Apartment: Located at the rear, providing additional rental income or living space. - Well-Maintained: Enjoy peace of mind with newly installed gutters

Key facts

• Roof on the garage
• Niawanda park
• 5,280 sq ft lot

Tags

• PRIME TONAWANDA LOCATION
• NIAWANDA PARK
• SEPARATE GARAGE APARTMENT
• NEWLY INSTALLED GUTTERS
• ROOF ON THE GARAGE

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/3.0-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $2k ($30k/yr) — positive. Per door: $822/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 89/100 on livability (#8 in NY, #169 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+.
• Tonawanda City School District (suburban): math 39% / reading 43% proficiency, ranked #508 of 590 in NY (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.8%/yr); 191 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $4,766/mo this rent would consume 80% of the median local household income ($71k/yr) (locally 1427% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.8% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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 $35k; list at $200k implies a 471% 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 $193,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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. 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.
8. 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.
9. 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: 2.38% ✓
• Cap rate: 21.09%
• Cash-on-cash: 52.85%
• DSCR: 3.35
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.75% rent growth · sell at horizon

5-year hold

• IRR: 55.0%
• Equity multiple: 3.56×
• Total profit: $143,300
• Equity at exit: $29,806

10-year hold

• IRR: 61.5%
• Equity multiple: 8.32×
• Total profit: $409,770
• Equity at exit: $17,284

Cash invested: $55,972 (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 14150

• Rents YoY: 6.8%
• Active inventory: 191
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $4,766 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$168 /mo · $2,020/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,001
• Net cashflow: $2,465

Break-even live

Break-even rent $1,645

Max offer price $199,900

Occupancy floor 43%

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	3	$4,767
Total (3 units)			$4,766

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
184 Sweeney St North Tonawanda, NY	2.0	2.0	1155	$2,000	$1.73	1d	1	0.58mi
115 Klinger Ave Tonawanda, NY	3.0	1.0	1200	$1,450	$1.21	3d	1	0.65mi
330 E Niagara St Tonawanda, NY	1.0–2.0	1.0–2.0	975	$1,900	$1.95	1d	1	1.11mi
600 River Rd North Tonawanda, NY	1.0–3.0	1.0–2.5	1320	$3,470	$2.63	1d	12	1.19mi
53 Winkler Dr Tonawanda, NY	3.0	1.0	1060	$2,100	$1.98	11d	1	1.36mi
125 3rd Ave North Tonawanda, NY	2.0	1.0	900	$1,100	$1.22	43d	1	1.38mi
166 Spruce St Unit 5 North Tonawanda, NY	2.0	1.0	1000	$1,300	$1.30	23d	1	1.44mi
399 Miller St North Tonawanda, NY	2.0	1.0	750	$1,250	$1.67	23d	1	1.45mi

Listing history 9 events

1. 2026-03-15
   status Pending
2. 2026-02-06
   listed $199,900 Active
3. 2025-10-31
   historical
4. 2025-07-31
   listed $219,900 Active
5. 2025-07-31
   historical
6. 2025-07-02
   price $239,900
7. 2025-07-02
   status Active
8. 2025-04-25
   listed $244,900 Active
9. 2005-10-14
   soldstatus $35,000

ⓘ 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: $2,020 · $168/mo
• Projected year-2 tax: $2,699 · $225/mo
• Expected delta: +$679/yr (+$57/mo · 33.6%)

ⓘ 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 3/10 Moderate 7 d/yr ≥93°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: $57,192
• − Mortgage interest: −$11,198
• − Property taxes: −$2,020
• − Insurance: −$1,000
• − Repairs & maintenance: −$4,575
• − Management: −$4,575
• − Depreciation: −$5,815
• Taxable income: $28,009
• Est. tax owed @ 24.0%: −$6,722
• After-tax cash flow: $22,860/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: Tonawanda City School District
• NCES district ID: 3628740
• Math proficiency: 39% ▼ -19.00%
• Reading proficiency: 43% ▼ -7.00%
• Median HH income: $47,061
• Composite: 35.03/100
• National rank: #5041
• State rank: #508 of 590 in NY

Livability — Tonawanda

• Score: 89/100
• State rank: #8
• US rank: #169

Category grades

Amenities A+ 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: Tonawanda, NY
• County: Erie County · 714,559 people
• City population: 41,260
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 41,260
• Household income: $71,406
• Rent vs Own: 27.9% rent · 72.1% own
• Severe rent burden: 1427.0

Population outlook (Erie County) Hauer SSP2

• Today (2025): 933,037 people
• By 2030: 935,181 · +0.2%
• By 2040: 928,531 · -0.5%
• By 2050: 905,725 · -2.9%
• By 2075: 834,037 · -10.6%
• By 2100: 708,033 · -24.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 5% Black 4% Asian 2%
• Common ancestry: Romanian 13% Lithuanian 3% Slovak 2%
• Foreign-born: 6% · Canada, Philippines, Vietnam
• Languages at home: 94% English-only · Other Indo-European 2% Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Erie

• 2024 margin: Lean D (+9.7) · D 54.8% · R 45.2%
• 2008→2024 swing: -7.9pp toward R · 2008: 17.5pp · 2024: 9.7pp
• All cycles: 2024: D+9.7 2020: D+14.7 2016: D+4.8 2012: D+15.6 2008: D+17.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -260.43%
• Current HPI: 334.5893
• Rent YoY: ▲ 6.75%
• 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

+471.1% since first listed

9 events — show timeline

• 2026-03-15 Pending — WNYREIS
• 2026-02-06 Listed $199,900 WNYREIS
• 2025-10-31 Listing Removed — WNYREIS
• 2025-07-31 Listing Removed — WNYREIS
• 2025-07-31 Listed $219,900 WNYREIS
• 2025-07-02 Price Changed $239,900 WNYREIS
• 2025-07-02 Relisted — WNYREIS
• 2025-04-25 Listed $244,900 WNYREIS
• 2005-10-14 Sold (Public Records) $35,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $2,020 · +2.8% YoY. Source: county tax records.