200 Tremont St · North Tonawanda, NY 14120

$105,000

4 bd · 2.0 ba · 2,064 sqft · MultiFamily public records · 29 Days on market

Built 1830 3,432 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 +4.2/10.0
• Livability +4.2/5.0
• Rent growth +4.0/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Investor opportunity in North Tonawanda! This multi-family property offers strong potential for the right buyer looking to renovate and build equity. Property is being sold as-is and will require some repairs and updates. Great opportunity for investors, or owner-occupants willing to put in the work. Conveniently located near local amenities, shopping, and thruway access.

Key facts

• Local amenities
• Thruway access
• 3,432 sq ft lot

Tags

• MULTI-FAMILY PROPERTY
• LOCAL AMENITIES
• THRUWAY ACCESS

Property features AI

Finance

• Other: Operating expenses referenced in remarks
• Financial info: Owner pays grounds care, trash collection, and water; One unit reported renting for $500; Two separate electric meters and two separate gas meters; Two total rental units

Exterior

• Parking: Gravel/unpaved parking
• Utilities: Electricity connected (circuit breakers); Public water connected; Sewer connected
• Home design: Two-story multi-unit property; Resale condition; City street frontage; Irregular lot shape; Near public transit; Residential setting
• Construction: Asphalt roof; Composite siding; Vinyl siding; Copper and PEX plumbing; Built as existing structure
• Exterior features: Balcony; Covered porch

Interior

• Kitchen: Gas water heater
• Bedrooms: Two 2-bedroom units
• Flooring: Carpet; Laminate; Vinyl; Varied flooring
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Thermal windows; Programmable thermostat
• Laundry & utility: Laundry in one unit

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $105k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $105k).
• Recommended offer: $103k (1.5% below list) — sets the bar for market timing.
• Cap rate 21.1% vs local median 4.0% in North Tonawanda — 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 85/100 on livability (#30 in NY, #518 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+.
• North Tonawanda City School District (suburban): math 42% / reading 57% proficiency, ranked #398 of 590 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.0%/yr); 178 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).
• This rent runs 42% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 + 6.0% rent growth), your $29k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $22k; list at $105k implies a 373% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1830 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,425 (1.5% below list)

Questions for the listing agent

1. Built in 1830 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.48% ✓
• Cap rate: 21.10%
• Cash-on-cash: 52.89%
• DSCR: 3.35
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $212,592
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
28 Lincoln Ave	0.24mi	4/2.0	2,228 (+8%)	4mo	$215,000	$96	72
103 Lincoln Ave	0.38mi	3/3.0 (-1)	2,088 (+1%)	8mo	$305,000	$146	64
182 Payne Ave	0.30mi	3/2.0 (-1)	1,956 (-5%)	17mo	$200,000	$102	58
158 Christiana St	0.29mi	5/2.0 (+1)	2,240 (+8%)	13mo	$247,200	$110	57
260 Payne Ave	0.42mi	5/2.0 (+1)	1,894 (-8%)	12mo	$210,940	$111	52
42 Geneva St	0.42mi	4/2.0	1,936 (-6%)	23mo	$122,000	$63	51
342 Bryant St	0.56mi	4/2.0	1,942 (-6%)	20mo	$200,000	$103	47
299 Bryant St	0.50mi	5/3.0 (+1)	2,283 (+11%)	4mo	$176,750	$77	47

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 · 5.96% rent growth · sell at horizon

5-year hold

• IRR: 54.3%
• Equity multiple: 3.50×
• Total profit: $73,553
• Equity at exit: $15,656

10-year hold

• IRR: 60.6%
• Equity multiple: 7.98×
• Total profit: $205,355
• 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 14120

• Rents YoY: 6.0%
• Active inventory: 178
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $2,602 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$165 /mo · $1,983/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$546
• Net cashflow: $1,296

Break-even live

Break-even rent $962

Max offer price $105,000

Occupancy floor 45%

Sensitivity live

Price	-10% $1,355	-5% $1,326	+0% $1,296	+5% $1,266	+10% $1,236
Rent	-10% $1,090	-5% $1,193	+0% $1,296	+5% $1,399	+10% $1,501
Rate	-1.0pp $1,349	-0.5pp $1,322	base $1,296	+0.5pp $1,269	+1.0pp $1,241

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
600 River Rd North Tonawanda, NY	1.0–3.0	1.0–2.5	1320	$4,995	$3.78	2d	12	1.07mi
203 Highland Ave Tonawanda, NY	3.0	1.0	2288	$1,800	$0.79	4d	1	1.47mi

Listing history 20 events

1. 2026-06-18
   status $105,000 Pending 29 DOM
2. 2026-06-18
   days on market $105,000 Active 29 DOM
3. 2026-06-17
   days on market $105,000 Active 28 DOM
4. 2026-06-16
   days on market $105,000 Active 27 DOM
5. 2026-06-15
   days on market $105,000 Active 26 DOM
6. 2026-06-13
   days on market $105,000 Active 24 DOM
7. 2026-06-10
   days on market $105,000 Active 21 DOM
8. 2026-06-09
   days on market $105,000 Active 20 DOM
9. 2026-06-08
   days on market $105,000 Active 19 DOM
10. 2026-06-07
    days on market $105,000 Active 18 DOM
11. 2026-06-03
    days on market $105,000 Active 14 DOM
12. 2026-06-02
    days on market $105,000 Active 13 DOM
13. 2026-06-01
    days on market $105,000 Active 12 DOM
14. 2026-05-31
    days on market $105,000 Active 11 DOM
15. 2026-05-20
    listed $105,000 Active
16. 2024-02-12
    listed $99,000 Active
17. 2016-07-21
    historical
18. 2016-05-06
    listed $49,900 Active
19. 2000-06-27
    soldstatus $22,200
20. 1993-01-06
    soldstatus $27,200

ⓘ 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: $1,983 · $165/mo
• Projected year-2 tax: $1,983 · $165/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 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: $31,222
• − Mortgage interest: −$5,882
• − Property taxes: −$1,983
• − Insurance: −$525
• − Repairs & maintenance: −$2,498
• − Management: −$2,498
• − Depreciation: −$3,055
• Taxable income: $14,782
• Est. tax owed @ 24.0%: −$3,548
• After-tax cash flow: $12,002/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: North Tonawanda City School District
• NCES district ID: 3621240
• Math proficiency: 42% ▼ -16.00%
• Reading proficiency: 57% ▲ 4.00%
• Median HH income: $48,348
• Composite: 42.15/100
• National rank: #3301
• State rank: #398 of 590 in NY

Livability — North Tonawanda

• Score: 85/100
• State rank: #30
• US rank: #518

Category grades

Amenities C+ 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: North Tonawanda, NY
• County: Niagara County · 157,377 people
• City population: 44,241
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 44,241
• Household income: $74,871
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 1303.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Black 2%
• Common ancestry: Romanian 15% Lithuanian 2% Slovak 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Russian/Polish/Slavic 2% Spanish 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: ▼ -260.39%
• Current HPI: 303.1744
• Rent YoY: ▲ 5.96%
• 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

+286.0% since first listed

6 events — show timeline

• 2026-05-20 Listed $105,000 WNYREIS
• 2024-02-12 Listed $99,000 WNYREIS
• 2016-07-21 Listing Removed — WNYREIS
• 2016-05-06 Listed $49,900 WNYREIS
• 2000-06-27 Sold (Public Records) $22,200 Public Records
• 1993-01-06 Sold (Public Records) $27,200 Public Records

Property tax history

+1.2%/yr

Latest (2025): $1,983 · +2.1% YoY. Source: county tax records.