3023 Orleans Ave · Niagara Falls, NY 14303

$105,000

2 bd · 2.0 ba · 1,760 sqft · MultiFamily public records · 7 Days on market

Built 1936 3,300 sqft lot $60/sqft · 27% below area Est $143k · 27% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +2.3/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Investor opportunity in Niagara Falls! This two-unit property at 3023 Orleans Ave offers strong potential for both rental income and long-term value. The lower unit features 1 bedroom and 1 full bath, with the flexibility for a second bedroom (dining area was previously a bedroom). The upper unit offers 3 bedrooms and 1 full bath, providing a spacious layout for tenants. A 2-car detached garage adds convenience and additional value, and solar panels on the roof will convey with the sale. Conveniently located near Hyde Park Blvd with easy access to shopping, restaurants, and everyday amenities. Low property taxes add to the appeal, making this a great option for investors or owner-occupants

Key facts

• Two-unit property
• Upper unit
• Solar panels

Tags

• TWO-UNIT PROPERTY
• LOWER UNIT
• UPPER UNIT
• DETACHED GARAGE
• SOLAR PANELS
• EASY ACCESS TO SHOPPING

Property features AI

Finance

• Financial info: Property configured as 2-unit building with separate gas and electric meters for each unit; Operating expenses include maintenance of structure; Owner pays grounds care and water; gardener and water listed under rent includes

Exterior

• Parking: 2-car garage; On-street parking
• Utilities: Public water connected; Sewer connected
• Home design: Two-story property; Resale condition; Brick and composite siding exterior; City street frontage; Rectangular residential lot near public transit
• Construction: Brick and composite siding construction; Existing (previously built)
• Exterior features: Covered porch

Interior

• Kitchen: Eat-in kitchen (in one unit); Dishwasher; Oven/Range; Refrigerator; Dining area connected to kitchen (in one unit)
• Bedrooms: One unit with 3 bedrooms; One unit with 1 bedroom
• Flooring: Resilient flooring; Varies by unit
• Bathrooms: Two full bathrooms total (one full bath in each unit)
• Heating & cooling: Gas heating; Baseboard heating; Forced air
• Interior features: Programmable thermostat; Full basement
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $105k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $105k).
• Cap rate 18.8% 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: 74 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• At $2,564/mo this rent would consume 67% of the median local household income ($46k/yr) (locally 230% 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 $726 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $29k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 14y 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 $90k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1936 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,000

Questions for the listing agent

1. Built in 1936 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.44% ✓
• Cap rate: 18.81%
• Cash-on-cash: 44.72%
• DSCR: 2.99
• GRM: 3.4

CMA / ARV

• ARV (median comp): $142,872
• List price: $105,000
• Delta: -9.08%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2738 Welch Ave	0.19mi	3/2.0 (+1)	1,621 (-8%)	14mo	$141,110	$87	62
1926 Welch Ave	0.68mi	3/2.0 (+1)	1,690 (-4%)	13mo	$65,000	$38	46

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.8%
• Equity multiple: 2.80×
• Total profit: $52,924
• Equity at exit: $15,656

10-year hold

• IRR: 48.0%
• Equity multiple: 5.65×
• Total profit: $136,599
• Equity at exit: $9,078

Cash invested: $29,400 (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 14303

• Home prices YoY: -1.7%
• Active inventory: 74
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,564 high
• Mortgage (P&I): −$551
• Tax from tax record: −$336 /mo · $4,028/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$538
• Net cashflow: $1,096

Break-even live

Break-even rent $1,177

Max offer price $105,000

Occupancy floor 52%

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$1,189
1× unit	3	1	$1,375
Total (2 units)			$2,564

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
784 15th St Niagara Falls, NY	3.0	1.5	1380	$1,350	$0.98	3d	1	1.11mi
508 59th St Niagara Falls, NY	3.0	1.0	2070	$1,400	$0.68	2d	1	1.45mi

Listing history 30 events

1. 2026-06-18
   days on market $105,000 Active 7 DOM
2. 2026-06-17
   days on market $105,000 Active 6 DOM
3. 2026-06-16
   days on market $105,000 Active 5 DOM
4. 2026-06-15
   days on market $105,000 Active 4 DOM
5. 2026-06-13
   days on market $105,000 Active 2 DOM
6. 2026-06-13
   pricedays on marketlisting id $105,000 Active 1 DOM
7. 2026-06-10
   days on market $129,900 Active 75 DOM
8. 2026-06-09
   days on market $129,900 Active 74 DOM
9. 2026-06-08
   days on market $129,900 Active 73 DOM
10. 2026-06-07
    days on market $129,900 Active 72 DOM
11. 2026-06-03
    days on market $129,900 Active 68 DOM
12. 2026-06-02
    days on market $129,900 Active 67 DOM
13. 2026-06-01
    days on market $129,900 Active 66 DOM
14. 2026-05-31
    days on market $129,900 Active 65 DOM
15. 2026-04-22
    price $129,900 769-char remark
16. 2026-03-27
    listed $139,900 Active 769-char remark
17. 2023-11-03
    historical
18. 2023-05-09
    listed $120,000 Active
19. 2022-01-10
    soldstatus $90,000 Closed Sale or Rented
20. 2021-11-03
    status Pending Sale
21. 2021-10-13
    status Under Contract- Do Not Show
22. 2021-09-09
    price $99,000
23. 2021-08-19
    price $109,000
24. 2021-07-20
    listed $120,000 Active
25. 2014-09-10
    soldstatus $45,000
26. 2014-08-22
    soldstatus $45,000
27. 2014-03-03
    listed $48,500
28. 2013-08-18
    listed $48,500
29. 2012-02-10
    listed $54,900
30. 1996-09-25
    soldstatus $43,900

ⓘ 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: $4,028 · $336/mo
• Projected year-2 tax: $4,028 · $336/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 (shaded) · 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: $30,768
• − Mortgage interest: −$5,882
• − Property taxes: −$4,028
• − Insurance: −$525
• − Repairs & maintenance: −$2,461
• − Management: −$2,461
• − Depreciation: −$3,055
• Taxable income: $12,356
• Est. tax owed @ 24.0%: −$2,965
• After-tax cash flow: $10,181/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): 6,156
• Household income: $45,646
• Rent vs Own: 55.7% rent · 44.3% own
• Severe rent burden: 230.0

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 0.68)
• Race & ethnicity: White 53% Two or more races 18% Hispanic / Latino 15% Black 12% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 6%
• Common ancestry: Romanian 12% Lithuanian 2% Iranian 1%
• Foreign-born: 3%
• Languages at home: 93% English-only · Other Indo-European 3% Spanish 3% Russian/Polish/Slavic 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: ▼ -5.37%
• Current HPI: 311.8094
• Rent YoY: —
• 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

+139.2% since first listed

18 events — show timeline

• 2026-06-11 Listing Removed — WNYREIS
• 2026-06-11 Listed $105,000 WNYREIS
• 2026-04-22 Price Changed $129,900 WNYREIS
• 2026-03-27 Listed $139,900 WNYREIS
• 2023-11-03 Listing Removed — WNYREIS
• 2023-05-09 Listed $120,000 WNYREIS
• 2022-01-10 Sold (MLS) $90,000 WNYREIS
• 2021-11-03 Pending — WNYREIS
• 2021-10-13 Pending — WNYREIS
• 2021-09-09 Price Changed $99,000 WNYREIS
• 2021-08-19 Price Changed $109,000 WNYREIS
• 2021-07-20 Listed $120,000 WNYREIS
• 2014-09-10 Sold (MLS) $45,000 WNYREIS
• 2014-08-22 Sold (Public Records) $45,000 Public Records
• 2014-03-03 Listed $48,500 WNYREIS
• 2013-08-18 Listed $48,500 WNYREIS
• 2012-02-10 Listed $54,900 WNYREIS
• 1996-09-25 Sold (Public Records) $43,900 Public Records

Property tax history

+7.1%/yr

Latest (2025): $4,028 · -27.2% YoY. Source: county tax records.