1230 98th St · Niagara Falls, NY 14304

$192,500

4 bd · 1.0 ba · 1,112 sqft · SingleFamily public records · 7 Days on market

Built 1955 8,197 sqft lot Est $205k · 6% under

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Why this score? — see what drove the D 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 +14.7/30.0
• ARV discount +10.2/15.0
• 1% rule +4.5/10.0
• DSCR +4.5/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 4-bedroom Cape in the LaSalle area with great curb appeal and major updates already done! The newer covered side porch with composite decking offers a warm welcome, while the flexible floor plan allows this home to easily live like a ranch with 2 bedrooms and a full bath on the first floor. Hardwood floors are under the carpeting in the living room and both first-floor bedrooms. Big-ticket improvements include newer furnace, central air, hot water tank, architectural roof on the garage: all under 6 years. Architectural roof on the house (approx. 12 years), and newer windows. The full basement adds valuable bonus space with a separate exterior entrance, workshop area, and plenty of

Key facts

• Hot water tank
• Newer furnace
• Flexible floor plan

Tags

• COVERED SIDE PORCH
• FLEXIBLE FLOOR PLAN
• HARDWOOD FLOORS
• NEWER FURNACE
• CENTRAL AIR
• HOT WATER TANK

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $192k.

Deal economics

• At list price, monthly cash flow is $50 ($597/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $183k (5.1% below list).
• Recommended offer: $183k (5.1% below list) — sets the bar for 1% rule.

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: 142 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($67k/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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $182,683 (5.1% below list)

Questions for the listing agent

1. Built in 1955 — 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 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?
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.95% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.11%
• DSCR: 1.05
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $204,608
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1230 98th St	0.00mi	4/1.0	1,112 (0%)	1mo	$205,000	$184	99
1236 96th St	0.11mi	3/1.5 (-1)	1,092 (-2%)	4mo	$228,000	$209	82
936 92nd St	0.53mi	4/1.5	1,124 (+1%)	1mo	$175,000	$156	71
1041 92nd St	0.44mi	3/1.0 (-1)	1,130 (+2%)	1mo	$200,000	$177	71
1033 100th St	0.34mi	3/1.0 (-1)	1,040 (-6%)	2mo	$185,533	$178	67
1079 98th St	0.23mi	3/1.5 (-1)	1,008 (-9%)	2mo	$130,000	$129	65
1122 91st St	0.47mi	3/1.5 (-1)	1,160 (+4%)	3mo	$187,000	$161	62
1296 93rd St	0.33mi	3/1.5 (-1)	1,198 (+8%)	5mo	$260,000	$217	61
1088 98th St	0.19mi	3/1.0 (-1)	982 (-12%)	6mo	$161,000	$164	61
1067 98th St	0.25mi	3/1.0 (-1)	951 (-14%)	6mo	$197,500	$208	54
1021 97th St	0.34mi	3/1.5 (-1)	984 (-12%)	6mo	$190,000	$193	53
1406 99th St	0.28mi	3/2.0 (-1)	960 (-14%)	7mo	$235,000	$245	49

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: -14.5%
• Equity multiple: 0.48×
• Total profit: $-27,957
• Equity at exit: $28,702

10-year hold

• IRR: -5.7%
• Equity multiple: 0.63×
• Total profit: $-19,994
• Equity at exit: $16,644

Cash invested: $53,900 (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 14304

• Active inventory: 142
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,827 medium
• Mortgage (P&I): −$1,009
• Tax from tax record: −$304 /mo · $3,645/yr
• Insurance: −$80
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $50

Break-even live

Break-even rent $1,764

Max offer price $192,500

Occupancy floor 92%

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: $48,125
• Closing costs: $5,775
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8520 Munson Ave Niagara Falls, NY	3.0	1.0	1216	$2,200	$1.81	17d	1	1.07mi

Listing history 2 events

1. 2026-04-03
   status Pending
2. 2026-03-27
   listed $192,500 Active

ⓘ 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: $3,645 · $304/mo
• Projected year-2 tax: $3,645 · $304/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 ≥94°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,922
• − Mortgage interest: −$10,783
• − Property taxes: −$3,645
• − Insurance: −$962
• − Repairs & maintenance: −$1,754
• − Management: −$1,754
• − Depreciation: −$5,600
• Taxable loss: −$2,576
• Est. tax savings @ 24.0%: +$618
• After-tax cash flow: $1,215/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): 29,208
• Household income: $66,660
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 698.0

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 (85%)
• Race & ethnicity: White 85% Two or more races 6% Hispanic / Latino 4% Black 3% Asian 2%
• Common ancestry: Romanian 10% Lithuanian 3% Slovak 2%
• Foreign-born: 3% · Canada, China, Vietnam
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% 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: ▼ -231.77%
• Current HPI: 280.3295
• 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

2 events — show timeline

• 2026-04-03 Pending — WNYREIS
• 2026-03-27 Listed $192,500 WNYREIS

Property tax history

+12.6%/yr

Latest (2025): $3,645 · +23.7% YoY. Source: county tax records.