2462 La Salle Ave · Niagara Falls, NY 14301

$139,900

3 bd · 2.0 ba · 2,024 sqft · MultiFamily public records · 7 Days on market

Built 1946 3,844 sqft lot $69/sqft · 33% below area Est $208k · 33% under

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Why this score? — see what drove the A 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
• Appreciation +10.0/10.0
• Rent growth +4.7/5.0
• Livability +3.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

Well-maintained 2-unit property offering an excellent opportunity for both Owner-occupants and investors. The lower unit features 2 bedrooms, a spacious living area, and a full kitchen, along with access to a private balcony. Additional features include a detached 2-car garage, fully fenced backyard, and a quiet residential setting. Conveniently located near shopping, schools, and local amenities. A versatile property with income potential

Key facts

• Income potential
• Private balcony
• Fenced backyard

Tags

• PRIVATE BALCONY
• DETACHED GARAGE
• FENCED BACKYARD
• QUIET RESIDENTIAL SETTING
• INCOME POTENTIAL

Property features AI

Finance

• Financial info: Owner pays trash collection and water; Rent includes trash collection and water; Operating expenses include insurance, structure maintenance, general maintenance, and water/sewer

Exterior

• Parking: Two-car garage; No driveway
• Utilities: Public water connected; Sewer connected
• Home design: Single-story building; Vinyl siding; Existing (resale) property
• Construction: Vinyl siding construction
• Exterior features: Near public transit; Rectangular residential lot; City street frontage; Below-grade finished area (basement): 432

Interior

• Kitchen: Gas water heater
• Bedrooms: Property contains 2 dwelling units
• Flooring: Carpet; Hardwood; Varies
• Bathrooms: Two full bathrooms
• Heating & cooling: Gas heating; Central air conditioning
• Interior features: Carpet and hardwood flooring with varied surfaces; Full basement
• Laundry & utility: Separate gas meters for each unit; Separate electric meters for each unit

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $533/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $140k).
• Cap rate 15.4% vs local median 7.5% 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: Rents rising fast (+8.8%/yr); 164 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• At $2,596/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 $15k of equity ($967 loan paydown + $14k 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 $39k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 $58k; list at $140k implies a 143% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.86% ✓
• Cap rate: 15.44%
• Cash-on-cash: 32.66%
• DSCR: 2.45
• GRM: 4.5

CMA / ARV

• ARV (median comp): $207,903
• List price: $139,900
• Delta: -32.71%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2459 La Salle Ave	0.03mi	4/2.0 (+1)	1,920 (-5%)	2mo	$160,000	$83	84
2455 La Salle Ave	0.03mi	4/2.0 (+1)	2,152 (+6%)	3mo	$112,000	$52	81
2443 Pierce Ave	0.10mi	4/2.0 (+1)	2,112 (+4%)	4mo	$120,000	$57	79
2409 La Salle Ave	0.11mi	4/2.0 (+1)	2,154 (+6%)	6mo	$185,000	$86	74
2208 Weston Ave	0.44mi	4/2.0 (+1)	2,016 (-0%)	1mo	$55,000	$27	73
2463 South Ave	0.40mi	4/2.0 (+1)	2,016 (-0%)	3mo	$137,500	$68	73
609 24th St	0.44mi	4/2.0 (+1)	2,000 (-1%)	4mo	$140,000	$70	69
1867 Michigan Ave	0.41mi	4/2.0 (+1)	2,100 (+4%)	2mo	$87,000	$41	68
2734 Forest Ave	0.20mi	4/2.0 (+1)	2,208 (+9%)	7mo	$160,000	$72	64
1623 Linwood Ave	0.58mi	4/2.0 (+1)	1,994 (-2%)	3mo	$100,000	$50	63
2615 Ferry Ave	0.61mi	4/2.0 (+1)	1,848 (-9%)	6mo	$115,000	$62	47
1535 Pierce Ave	0.59mi	4/2.0 (+1)	1,724 (-15%)	2mo	$35,000	$20	41

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: 52.5%
• Equity multiple: 5.03×
• Total profit: $157,872
• Equity at exit: $126,033

10-year hold

• IRR: 48.2%
• Equity multiple: 12.38×
• Total profit: $445,591
• Equity at exit: $271,795

Cash invested: $39,172 (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: 9.0×

Monthly cashflow live

• Estimated rent: $2,596 high
• Mortgage (P&I): −$734
• Tax from tax record: −$193 /mo · $2,312/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$545
• Net cashflow: $1,066

Break-even live

Break-even rent $1,246

Max offer price $139,900

Occupancy floor 54%

Sensitivity live

Price	-10% $1,145	-5% $1,106	+0% $1,066	+5% $1,027	+10% $987
Rent	-10% $861	-5% $964	+0% $1,066	+5% $1,169	+10% $1,271
Rate	-1.0pp $1,137	-0.5pp $1,102	base $1,066	+0.5pp $1,030	+1.0pp $993

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,596
Total (2 units)			$2,596

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2020 Forest Ave Niagara Falls, NY	4.0	2.0	1600	$1,500	$0.94	18d	1	0.32mi
1935 Niagara St Unit Upper Niagara Falls, NY	3.0	1.0	2685	$1,200	$0.45	15d	1	0.87mi
1312 Ontario Ave Niagara Falls, NY	2.0	1.0	1956	$1,200	$0.61	44d	1	0.97mi

Listing history 7 events

1. 2026-05-11
   status Pending 443-char remark
2. 2026-05-04
   listed $139,900 Active 443-char remark
3. 2026-04-22
   historical
4. 2026-04-13
   status Active
5. 2026-03-26
   status Pending
6. 2026-03-16
   listed $129,900 Active
7. 1993-02-12
   soldstatus $57,500

ⓘ 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: $2,312 · $193/mo
• Projected year-2 tax: $2,338 · $195/mo
• Expected delta: +$26/yr (+$2/mo · 1.1%)

ⓘ 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 ≥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: $31,152
• − Mortgage interest: −$7,837
• − Property taxes: −$2,312
• − Insurance: −$700
• − Repairs & maintenance: −$2,492
• − Management: −$2,492
• − Depreciation: −$4,070
• Taxable income: $11,250
• Est. tax owed @ 24.0%: −$2,700
• After-tax cash flow: $10,095/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

+143.3% since first listed

7 events — show timeline

• 2026-05-11 Pending — WNYREIS
• 2026-05-04 Listed $139,900 WNYREIS
• 2026-04-22 Listing Removed — WNYREIS
• 2026-04-13 Relisted — WNYREIS
• 2026-03-26 Pending — WNYREIS
• 2026-03-16 Listed $129,900 WNYREIS
• 1993-02-12 Sold (Public Records) $57,500 Public Records

Property tax history

+7.9%/yr

Latest (2025): $2,312 · +20.8% YoY. Source: county tax records.