59 Ontario St · Lockport, NY 14094

$170,000

3 bd · 2.0 ba · 2,076 sqft · MultiFamily public records · 26 Days on market

Built 1920 3,485 sqft lot Est $154k · 11% over

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Why this score? — see what drove the C+ 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 +27.2/30.0
• DSCR +9.4/10.0
• 1% rule +7.9/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• ARV discount +2.7/15.0
• 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: 2 units. confirmed

Listing remarks MLS

Impressive looking 2-Story multi-family home that acts as a single family as well with a one bedroom apartment. Great for an in-law situation. Exterior wise there is nothing to do. Newer architectural roof. Vinyl sided exterior. Updated vinyl clad windows throughout. Concrete drive was also replaced. Full concrete covered front porch. Main homes interior is awaiting your own modernization and cosmetic updates. Quaint upstairs apartment with separate entry and is in move-in condition. Oversized hot water tank and updated Dunkirk boiler. Seller offer deadline of 8/15/24 at 2 pm.

Key facts

• 3,485 sq ft lot
• 2 parking spots
• Built 1920

Property features AI

Finance

• Financial info: Owner pays electricity, heat, hot water and water; Operating expenses include electric, fuel, insurance and water/sewer; One unit is leased; the other is month-to-month; Unit rents: approx. $900 for the 1-bed unit and $1,175 for the 3-bed unit

Exterior

• Parking: Two or more parking spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story multifamily (2-unit) residence; Existing condition
• Construction: Vinyl siding; Asphalt roof; Block foundation; Built (existing)
• Exterior features: Rectangular residential lot; City street frontage

Interior

• Kitchen: Eat-in kitchen(s); Oven/range; Refrigerator
• Bedrooms: One 1-bedroom unit; One 3-bedroom unit
• Flooring: Hardwood; Laminate; Vinyl; Varies
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas heating; Hot water/radiant heat
• Interior features: Full basement; Hardwood, laminate, vinyl and mixed flooring
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $486 ($6k/yr) — positive. Per door: $243/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $167k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.7% 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); 362 active listings in the ZIP; solid renter incomes; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% 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 $1k of loan paydown is wiped out by about $5k 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 $48k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,450 (1.5% below list)

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 1920 — 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 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?
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: 1.29% ✓
• Cap rate: 9.72%
• Cash-on-cash: 12.25%
• DSCR: 1.54
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $153,624
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
146 Allen St	0.49mi	4/2.0 (+1)	1,876 (-10%)	2mo	$174,000	$93	54
179 Lock St	0.37mi	4/2.0 (+1)	2,275 (+10%)	11mo	$200,000	$88	53
14 Cave St	0.73mi	4/2.0 (+1)	2,056 (-1%)	11mo	$95,000	$46	51
25 S New York St	0.73mi	4/2.0 (+1)	1,980 (-5%)	16mo	$113,500	$57	40
107 Spalding St	0.67mi	4/2.0 (+1)	1,836 (-12%)	6mo	$134,000	$73	39
114 Elmwood Ave	0.73mi	4/3.0 (+1)	1,764 (-15%)	7mo	$130,000	$74	26

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 · 3.67% rent growth · sell at horizon

5-year hold

• IRR: 2.7%
• Equity multiple: 1.10×
• Total profit: $4,965
• Equity at exit: $25,348

10-year hold

• IRR: 13.0%
• Equity multiple: 2.07×
• Total profit: $50,700
• Equity at exit: $14,698

Cash invested: $47,600 (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: 362
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $2,200 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$290 /mo · $3,479/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $486

Break-even live

Break-even rent $1,585

Max offer price $170,000

Occupancy floor 73%

Sensitivity live

Price	-10% $582	-5% $534	+0% $486	+5% $438	+10% $390
Rent	-10% $312	-5% $399	+0% $486	+5% $573	+10% $660
Rate	-1.0pp $571	-0.5pp $529	base $486	+0.5pp $442	+1.0pp $397

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,200
Total (2 units)			$2,200

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-02
   status $170,000 Pending 26 DOM
2. 2026-06-01
   days on market $170,000 Active 26 DOM
3. 2026-05-31
   days on market $170,000 Active 25 DOM
4. 2026-05-06
   listed $170,000 Active
5. 2026-04-30
   historical
6. 2026-03-06
   price $170,000
7. 2025-10-27
   listed $175,000 Active
8. 2024-10-29
   soldstatus $163,000 Closed 583-char remark

   Show marketing remark (583 chars)

   Impressive looking 2-Story multi-family home that acts as a single family as well with a one bedroom apartment. Great for an in-law situation. Exterior wise there is nothing to do. Newer architectural roof. Vinyl sided exterior. Updated vinyl clad windows throughout. Concrete drive was also replaced. Full concrete covered front porch. Main homes interior is awaiting your own modernization and cosmetic updates. Quaint upstairs apartment with separate entry and is in move-in condition. Oversized hot water tank and updated Dunkirk boiler. Seller offer deadline of 8/15/24 at 2 pm.

9. 2024-08-16
   status Pending 583-char remark

   Show marketing remark (583 chars)

   Impressive looking 2-Story multi-family home that acts as a single family as well with a one bedroom apartment. Great for an in-law situation. Exterior wise there is nothing to do. Newer architectural roof. Vinyl sided exterior. Updated vinyl clad windows throughout. Concrete drive was also replaced. Full concrete covered front porch. Main homes interior is awaiting your own modernization and cosmetic updates. Quaint upstairs apartment with separate entry and is in move-in condition. Oversized hot water tank and updated Dunkirk boiler. Seller offer deadline of 8/15/24 at 2 pm.

10. 2024-08-08
    listed $149,900 Active 583-char remark

    Show marketing remark (583 chars)

    Impressive looking 2-Story multi-family home that acts as a single family as well with a one bedroom apartment. Great for an in-law situation. Exterior wise there is nothing to do. Newer architectural roof. Vinyl sided exterior. Updated vinyl clad windows throughout. Concrete drive was also replaced. Full concrete covered front porch. Main homes interior is awaiting your own modernization and cosmetic updates. Quaint upstairs apartment with separate entry and is in move-in condition. Oversized hot water tank and updated Dunkirk boiler. Seller offer deadline of 8/15/24 at 2 pm.

ⓘ 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: $3,479 · $290/mo
• Projected year-2 tax: $3,479 · $290/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 3/10 Moderate
• 🌡 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: $26,400
• − Mortgage interest: −$9,523
• − Property taxes: −$3,479
• − Insurance: −$850
• − Repairs & maintenance: −$2,112
• − Management: −$2,112
• − Depreciation: −$4,945
• Taxable income: $3,379
• Est. tax owed @ 24.0%: −$811
• After-tax cash flow: $5,018/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

+13.4% since first listed

7 events — show timeline

• 2026-05-06 Listed $170,000 WNYREIS
• 2026-04-30 Listing Removed — WNYREIS
• 2026-03-06 Price Changed $170,000 WNYREIS
• 2025-10-27 Listed $175,000 WNYREIS
• 2024-10-29 Sold (MLS) $163,000 WNYREIS
• 2024-08-16 Pending — WNYREIS
• 2024-08-08 Listed $149,900 WNYREIS

Property tax history

+45.8%/yr

Latest (2025): $3,479 · +0.4% YoY. Source: county tax records.