162 Lock St · Lockport, NY 14094

$235,000

8 bd · 3.0 ba · 3,489 sqft · MultiFamily public records · 44 Days on market

Built 1890 6,534 sqft lot

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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
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• 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 MLS

Here is a rare opportunity to own a TRIPLEX in Niagara County with immediate cash flow, amazing ROI and to even owner occupy, not be house poor, and build some sweat equity. The vacant 4 bedroom unit with washer/dryer hookups within the unit is VACANT. When rented the owner was receiving $1,200 monthly. The other two units, each a 2 bedroom 1 bath, are meticulously maintained and decorated by clean and paying tenants. All of the units are sold with stoves and refrigerators. This is an as-is sale and the seller is unable to make any repairs due to inspection or appraisal. Showings: Showings of two occupied units will be Tuesday 10-12 only. The vacant unit and basement can be shown at will.

Key facts

• Fully renovated
• Separate utilities
• Convenient access

Tags

• FULLY RENOVATED
• UPDATED ELECTRICAL SYSTEM
• SEPARATE UTILITIES
• CONVENIENT ACCESS

Property features AI

Finance

• Financial info: Owner pays water; rent includes water; Operating expenses: See remarks; Three rental units with current actual rents: $824, $850, $1,275

Exterior

• Parking: Gravel parking
• Utilities: Public water connected; Sewer available
• Home design: 2-story building; Resale property; Vinyl siding exterior
• Construction: Vinyl siding construction
• Exterior features: Rectangular lot; Main thoroughfare road frontage

Interior

• Bedrooms: Two 2-bedroom units; One 4-bedroom unit
• Flooring: Hardwood; Laminate; Varies
• Bathrooms: Three full bathrooms total (one full bath per unit)
• Heating & cooling: Gas heating with baseboard units
• Interior features: Hardwood and laminate flooring in varying areas; Crawl space basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $235k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $459/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $235k).
• Recommended offer: $228k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.3% 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); 357 active listings in the ZIP; solid renter incomes; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• At $3,901/mo this rent would consume 62% of the median local household income ($75k/yr) (locally 1112% 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 $2k of loan paydown is wiped out by about $7k 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 $66k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y 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 $155k; list at $235k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $227,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 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 1890 — 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: 1.66% ✓
• Cap rate: 13.33%
• Cash-on-cash: 25.12%
• DSCR: 2.12
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.67% rent growth · sell at horizon

5-year hold

• IRR: 19.4%
• Equity multiple: 1.80×
• Total profit: $52,410
• Equity at exit: $35,039

10-year hold

• IRR: 28.2%
• Equity multiple: 3.58×
• Total profit: $170,061
• Equity at exit: $20,319

Cash invested: $65,800 (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: 357
• Price-to-rent: 15.1×

Monthly cashflow live

• Estimated rent: $3,901 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$374 /mo · $4,488/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$819
• Net cashflow: $1,378

Break-even live

Break-even rent $2,157

Max offer price $235,000

Occupancy floor 60%

Sensitivity live

Price	-10% $1,511	-5% $1,444	+0% $1,378	+5% $1,311	+10% $1,244
Rent	-10% $1,069	-5% $1,223	+0% $1,378	+5% $1,532	+10% $1,686
Rate	-1.0pp $1,496	-0.5pp $1,437	base $1,378	+0.5pp $1,317	+1.0pp $1,255

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$3,900
Total (3 units)			$3,901

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-18
   days on market $235,000 Active 44 DOM
2. 2026-06-17
   days on market $235,000 Active 43 DOM
3. 2026-06-16
   days on market $235,000 Active 42 DOM
4. 2026-06-15
   days on market $235,000 Active 41 DOM
5. 2026-06-13
   days on market $235,000 Active 39 DOM
6. 2026-06-13
   days on market $235,000 Active 38 DOM
7. 2026-06-10
   days on market $235,000 Active 36 DOM
8. 2026-06-09
   days on market $235,000 Active 35 DOM
9. 2026-06-08
   days on market $235,000 Active 34 DOM
10. 2026-06-07
    days on market $235,000 Active 33 DOM
11. 2026-06-05
    days on market $235,000 Active 30 DOM
12. 2026-06-03
    days on market $235,000 Active 29 DOM
13. 2026-06-02
    days on market $235,000 Active 28 DOM
14. 2026-06-01
    days on market $235,000 Active 27 DOM
15. 2026-05-31
    days on market $235,000 Active 26 DOM
16. 2026-05-05
    listed $235,000 Active
17. 2024-10-28
    soldstatus $155,000 Closed 697-char remark

    Show marketing remark (697 chars)

    Here is a rare opportunity to own a TRIPLEX in Niagara County with immediate cash flow, amazing ROI and to even owner occupy, not be house poor, and build some sweat equity. The vacant 4 bedroom unit with washer/dryer hookups within the unit is VACANT. When rented the owner was receiving $1,200 monthly. The other two units, each a 2 bedroom 1 bath, are meticulously maintained and decorated by clean and paying tenants. All of the units are sold with stoves and refrigerators. This is an as-is sale and the seller is unable to make any repairs due to inspection or appraisal. Showings: Showings of two occupied units will be Tuesday 10-12 only. The vacant unit and basement can be shown at will.

18. 2024-07-18
    historical Active Under Contract 697-char remark

    Show marketing remark (697 chars)

    Here is a rare opportunity to own a TRIPLEX in Niagara County with immediate cash flow, amazing ROI and to even owner occupy, not be house poor, and build some sweat equity. The vacant 4 bedroom unit with washer/dryer hookups within the unit is VACANT. When rented the owner was receiving $1,200 monthly. The other two units, each a 2 bedroom 1 bath, are meticulously maintained and decorated by clean and paying tenants. All of the units are sold with stoves and refrigerators. This is an as-is sale and the seller is unable to make any repairs due to inspection or appraisal. Showings: Showings of two occupied units will be Tuesday 10-12 only. The vacant unit and basement can be shown at will.

19. 2024-06-24
    price $179,900 697-char remark

    Show marketing remark (697 chars)

    Here is a rare opportunity to own a TRIPLEX in Niagara County with immediate cash flow, amazing ROI and to even owner occupy, not be house poor, and build some sweat equity. The vacant 4 bedroom unit with washer/dryer hookups within the unit is VACANT. When rented the owner was receiving $1,200 monthly. The other two units, each a 2 bedroom 1 bath, are meticulously maintained and decorated by clean and paying tenants. All of the units are sold with stoves and refrigerators. This is an as-is sale and the seller is unable to make any repairs due to inspection or appraisal. Showings: Showings of two occupied units will be Tuesday 10-12 only. The vacant unit and basement can be shown at will.

20. 2024-05-21
    listed $184,900 Active 697-char remark

    Show marketing remark (697 chars)

    Here is a rare opportunity to own a TRIPLEX in Niagara County with immediate cash flow, amazing ROI and to even owner occupy, not be house poor, and build some sweat equity. The vacant 4 bedroom unit with washer/dryer hookups within the unit is VACANT. When rented the owner was receiving $1,200 monthly. The other two units, each a 2 bedroom 1 bath, are meticulously maintained and decorated by clean and paying tenants. All of the units are sold with stoves and refrigerators. This is an as-is sale and the seller is unable to make any repairs due to inspection or appraisal. Showings: Showings of two occupied units will be Tuesday 10-12 only. The vacant unit and basement can be shown at will.

21. 2021-12-14
    soldstatus $135,000 Closed Sale or Rented 328-char remark

    Show marketing remark (328 chars)

    Great ROI on fully rented investment property. 3 Units w/ off street parking, all tenants paid to date. 2 units offer 2 bedrooms1 bath, and the 3rd unit boasts 4 bedrooms /1 bath w/ laundry. Great investment opportunity or potential for owner occupant. 2 Units were fully updated in 2020 - 2021 and all units include appliances.

22. 2021-11-29
    status Pending Sale 328-char remark

    Show marketing remark (328 chars)

    Great ROI on fully rented investment property. 3 Units w/ off street parking, all tenants paid to date. 2 units offer 2 bedrooms1 bath, and the 3rd unit boasts 4 bedrooms /1 bath w/ laundry. Great investment opportunity or potential for owner occupant. 2 Units were fully updated in 2020 - 2021 and all units include appliances.

23. 2021-11-01
    status Under Contract- Do Not Show 328-char remark

    Show marketing remark (328 chars)

    Great ROI on fully rented investment property. 3 Units w/ off street parking, all tenants paid to date. 2 units offer 2 bedrooms1 bath, and the 3rd unit boasts 4 bedrooms /1 bath w/ laundry. Great investment opportunity or potential for owner occupant. 2 Units were fully updated in 2020 - 2021 and all units include appliances.

24. 2021-10-14
    price $142,000 328-char remark

    Show marketing remark (328 chars)

    Great ROI on fully rented investment property. 3 Units w/ off street parking, all tenants paid to date. 2 units offer 2 bedrooms1 bath, and the 3rd unit boasts 4 bedrooms /1 bath w/ laundry. Great investment opportunity or potential for owner occupant. 2 Units were fully updated in 2020 - 2021 and all units include appliances.

25. 2021-09-27
    status Active 328-char remark

    Show marketing remark (328 chars)

    Great ROI on fully rented investment property. 3 Units w/ off street parking, all tenants paid to date. 2 units offer 2 bedrooms1 bath, and the 3rd unit boasts 4 bedrooms /1 bath w/ laundry. Great investment opportunity or potential for owner occupant. 2 Units were fully updated in 2020 - 2021 and all units include appliances.

26. 2021-09-08
    historical Continue to Show- Under Contract 328-char remark

    Show marketing remark (328 chars)

    Great ROI on fully rented investment property. 3 Units w/ off street parking, all tenants paid to date. 2 units offer 2 bedrooms1 bath, and the 3rd unit boasts 4 bedrooms /1 bath w/ laundry. Great investment opportunity or potential for owner occupant. 2 Units were fully updated in 2020 - 2021 and all units include appliances.

27. 2021-09-08
    status Active 328-char remark

    Show marketing remark (328 chars)

    Great ROI on fully rented investment property. 3 Units w/ off street parking, all tenants paid to date. 2 units offer 2 bedrooms1 bath, and the 3rd unit boasts 4 bedrooms /1 bath w/ laundry. Great investment opportunity or potential for owner occupant. 2 Units were fully updated in 2020 - 2021 and all units include appliances.

28. 2021-09-06
    historical 328-char remark

    Show marketing remark (328 chars)

    Great ROI on fully rented investment property. 3 Units w/ off street parking, all tenants paid to date. 2 units offer 2 bedrooms1 bath, and the 3rd unit boasts 4 bedrooms /1 bath w/ laundry. Great investment opportunity or potential for owner occupant. 2 Units were fully updated in 2020 - 2021 and all units include appliances.

29. 2021-08-27
    price $144,998 328-char remark

    Show marketing remark (328 chars)

    Great ROI on fully rented investment property. 3 Units w/ off street parking, all tenants paid to date. 2 units offer 2 bedrooms1 bath, and the 3rd unit boasts 4 bedrooms /1 bath w/ laundry. Great investment opportunity or potential for owner occupant. 2 Units were fully updated in 2020 - 2021 and all units include appliances.

30. 2021-08-13
    price $149,998 328-char remark

    Show marketing remark (328 chars)

    Great ROI on fully rented investment property. 3 Units w/ off street parking, all tenants paid to date. 2 units offer 2 bedrooms1 bath, and the 3rd unit boasts 4 bedrooms /1 bath w/ laundry. Great investment opportunity or potential for owner occupant. 2 Units were fully updated in 2020 - 2021 and all units include appliances.

31. 2021-08-13
    status Active 328-char remark

    Show marketing remark (328 chars)

    Great ROI on fully rented investment property. 3 Units w/ off street parking, all tenants paid to date. 2 units offer 2 bedrooms1 bath, and the 3rd unit boasts 4 bedrooms /1 bath w/ laundry. Great investment opportunity or potential for owner occupant. 2 Units were fully updated in 2020 - 2021 and all units include appliances.

32. 2021-08-05
    historical 328-char remark

    Show marketing remark (328 chars)

    Great ROI on fully rented investment property. 3 Units w/ off street parking, all tenants paid to date. 2 units offer 2 bedrooms1 bath, and the 3rd unit boasts 4 bedrooms /1 bath w/ laundry. Great investment opportunity or potential for owner occupant. 2 Units were fully updated in 2020 - 2021 and all units include appliances.

33. 2021-07-05
    listed $159,998 Active 328-char remark

    Show marketing remark (328 chars)

    Great ROI on fully rented investment property. 3 Units w/ off street parking, all tenants paid to date. 2 units offer 2 bedrooms1 bath, and the 3rd unit boasts 4 bedrooms /1 bath w/ laundry. Great investment opportunity or potential for owner occupant. 2 Units were fully updated in 2020 - 2021 and all units include appliances.

34. 2013-05-17
    soldstatus $46,000
35. 2005-08-12
    soldstatus $50,000
36. 2003-05-21
    soldstatus $40,000

ⓘ 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: $4,488 · $374/mo
• Projected year-2 tax: $4,488 · $374/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 ≥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: $46,812
• − Mortgage interest: −$13,164
• − Property taxes: −$4,488
• − Insurance: −$1,175
• − Repairs & maintenance: −$3,745
• − Management: −$3,745
• − Depreciation: −$6,836
• Taxable income: $13,659
• Est. tax owed @ 24.0%: −$3,278
• After-tax cash flow: $13,252/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

+487.5% since first listed

21 events — show timeline

• 2026-05-05 Listed $235,000 WNYREIS
• 2024-10-28 Sold (MLS) $155,000 WNYREIS
• 2024-07-18 Contingent — WNYREIS
• 2024-06-24 Price Changed $179,900 WNYREIS
• 2024-05-21 Listed $184,900 WNYREIS
• 2021-12-14 Sold (MLS) $135,000 WNYREIS
• 2021-11-29 Pending — WNYREIS
• 2021-11-01 Pending — WNYREIS
• 2021-10-14 Price Changed $142,000 WNYREIS
• 2021-09-27 Relisted — WNYREIS
• 2021-09-08 Contingent — WNYREIS
• 2021-09-08 Relisted — WNYREIS
• 2021-09-06 Listing Removed — WNYREIS
• 2021-08-27 Price Changed $144,998 WNYREIS
• 2021-08-13 Price Changed $149,998 WNYREIS
• 2021-08-13 Relisted — WNYREIS
• 2021-08-05 Listing Removed — WNYREIS
• 2021-07-05 Listed $159,998 WNYREIS
• 2013-05-17 Sold (Public Records) $46,000 Public Records
• 2005-08-12 Sold (Public Records) $50,000 Public Records
• 2003-05-21 Sold (Public Records) $40,000 Public Records

Property tax history

+7.3%/yr

Latest (2025): $4,488 · +3.9% YoY. Source: county tax records.