133 Hawley St · Lockport, NY 14094

$120,000

4 bd · 2.0 ba · 1,960 sqft · MultiFamily public records · 61 Days on market

Built 1870 Poor condition 2,178 sqft lot Est $133k · 10% under

---

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
• ARV discount +12.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Condition / age +1.0/5.0
• 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 MLS

Excellent opportunity to acquire a 3-property investment package including 133 Hawley St, 149 Green St, and 227 Genesee St. Each property is a double, offering a total of 6 units with strong income potential. Currently 3 units are vacant, providing immediate upside for increased cash flow. Ideal for investors looking to expand their portfolio with properties in close proximity for easier management. Conveniently located near local amenities, schools, and transportation. Don’t miss this rare chance to secure multiple income-producing properties in one purchase. Sale price for 133 Hawley St. Tax ID (290900-109-061-0001-011-000), 149 Green St. , Tax ID (290900-109-046-0001-054-000) and and 227 Genesse St Tax ID (290900-109-063-0002-059-000). Please reference MLS#s B1668823, B1674133, and B1677256 for complete details.

Key facts

• 2,178 sq ft lot
• 2 parking spots
• Built 1870

Property features AI

Finance

• Other: Owner pays utilities (all utilities and water) for tenants; rent includes utilities
• Financial info: Property configured as 2-unit building with separate electric meters for each unit and a single gas meter; Both units currently rent for $900 each; Operating expenses include professional management and utilities (water/sewer)

Exterior

• Parking: Two or more off-street parking spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story multifamily building; Resale property; Wood siding exterior
• Construction: Wood siding construction
• Exterior features: Rectangular lot with 30 x 66 dimensions; Located on a main thoroughfare

Interior

• Kitchen: Each unit includes an oven/range and refrigerator
• Bedrooms: Two 2-bedroom units
• Flooring: Carpet; Laminate; Varies by area
• Bathrooms: Each unit has one full bathroom (2 full bathrooms total)
• Heating & cooling: Gas forced-air heating
• Interior features: Partial basement; Carpet and laminate flooring with varied materials in places
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $120k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 26.4% 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).
• At $3,596/mo this rent would consume 57% 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 $830 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $205k (63%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $112,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 3.00% ✓
• Cap rate: 26.38%
• Cash-on-cash: 71.74%
• DSCR: 4.19
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $133,280
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25 S New York St	0.45mi	4/2.0	1,980 (+1%)	16mo	$113,500	$57	64
146 Allen St	0.74mi	4/2.0	1,876 (-4%)	2mo	$174,000	$93	57
35 South St	0.48mi	5/3.0 (+1)	2,070 (+6%)	14mo	$162,000	$78	48
275 Genesee St	0.68mi	5/2.0 (+1)	1,826 (-7%)	7mo	$100,000	$55	46
87 Locust St	0.54mi	5/3.0 (+1)	2,208 (+13%)	0mo	$20,000	$9	44
22 Waterman St	0.46mi	3/2.0 (-1)	1,752 (-11%)	15mo	$120,000	$68	43
247 Lock St	0.73mi	5/3.0 (+1)	2,240 (+14%)	6mo	$187,000	$83	28

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: 72.2%
• Equity multiple: 4.30×
• Total profit: $110,996
• Equity at exit: $17,892

10-year hold

• IRR: 76.3%
• Equity multiple: 9.09×
• Total profit: $271,781
• Equity at exit: $10,375

Cash invested: $33,600 (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: 8.3×

Monthly cashflow live

• Estimated rent: $3,596 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$153 /mo · $1,832/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$755
• Net cashflow: $2,009

Break-even live

Break-even rent $1,053

Max offer price $120,000

Occupancy floor 39%

Sensitivity live

Price	-10% $2,077	-5% $2,043	+0% $2,009	+5% $1,975	+10% $1,941
Rent	-10% $1,725	-5% $1,867	+0% $2,009	+5% $2,151	+10% $2,293
Rate	-1.0pp $2,069	-0.5pp $2,039	base $2,009	+0.5pp $1,978	+1.0pp $1,946

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,594
Total (3 units)			$3,596

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-07
   statusdays on market $120,000 Pending 61 DOM
2. 2026-06-05
   days on market $120,000 Active 59 DOM
3. 2026-06-03
   days on market $120,000 Active 58 DOM
4. 2026-06-02
   days on market $120,000 Active 57 DOM
5. 2026-06-02
   price $120,000 Active 56 DOM
6. 2026-06-01
   days on market $129,900 Active 56 DOM
7. 2026-05-31
   days on market $129,900 Active 55 DOM
8. 2026-05-13
   price $324,900 835-char remark

   Show marketing remark (835 chars)

   Excellent opportunity to acquire a 3-property investment package including 133 Hawley St, 149 Green St, and 227 Genesee St. Each property is a double, offering a total of 6 units with strong income potential. Currently 3 units are vacant, providing immediate upside for increased cash flow. Ideal for investors looking to expand their portfolio with properties in close proximity for easier management. Conveniently located near local amenities, schools, and transportation. Don’t miss this rare chance to secure multiple income-producing properties in one purchase. Sale price for 133 Hawley St. Tax ID (290900-109-061-0001-011-000), 149 Green St. , Tax ID (290900-109-046-0001-054-000) and and 227 Genesse St Tax ID (290900-109-063-0002-059-000). Please reference MLS#s B1668823, B1674133, and B1677256 for complete details.

9. 2026-05-05
   price $425,000 835-char remark

   Show marketing remark (835 chars)

   Excellent opportunity to acquire a 3-property investment package including 133 Hawley St, 149 Green St, and 227 Genesee St. Each property is a double, offering a total of 6 units with strong income potential. Currently 3 units are vacant, providing immediate upside for increased cash flow. Ideal for investors looking to expand their portfolio with properties in close proximity for easier management. Conveniently located near local amenities, schools, and transportation. Don’t miss this rare chance to secure multiple income-producing properties in one purchase. Sale price for 133 Hawley St. Tax ID (290900-109-061-0001-011-000), 149 Green St. , Tax ID (290900-109-046-0001-054-000) and and 227 Genesse St Tax ID (290900-109-063-0002-059-000). Please reference MLS#s B1668823, B1674133, and B1677256 for complete details.

10. 2026-04-21
    listed $325,000 Active 835-char remark

    Show marketing remark (835 chars)

    Excellent opportunity to acquire a 3-property investment package including 133 Hawley St, 149 Green St, and 227 Genesee St. Each property is a double, offering a total of 6 units with strong income potential. Currently 3 units are vacant, providing immediate upside for increased cash flow. Ideal for investors looking to expand their portfolio with properties in close proximity for easier management. Conveniently located near local amenities, schools, and transportation. Don’t miss this rare chance to secure multiple income-producing properties in one purchase. Sale price for 133 Hawley St. Tax ID (290900-109-061-0001-011-000), 149 Green St. , Tax ID (290900-109-046-0001-054-000) and and 227 Genesse St Tax ID (290900-109-063-0002-059-000). Please reference MLS#s B1668823, B1674133, and B1677256 for complete details.

11. 2026-04-06
    listed $129,900 Active
12. 2026-02-24
    historical
13. 2026-02-06
    status Active
14. 2026-01-13
    price $139,900
15. 2025-12-01
    listed $149,900 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: $1,832 · $153/mo
• Projected year-2 tax: $1,930 · $161/mo
• Expected delta: +$98/yr (+$8/mo · 5.3%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 16 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: $43,152
• − Mortgage interest: −$6,722
• − Property taxes: −$1,832
• − Insurance: −$600
• − Repairs & maintenance: −$3,452
• − Management: −$3,452
• − Depreciation: −$3,491
• Taxable income: $23,603
• Est. tax owed @ 24.0%: −$5,665
• After-tax cash flow: $18,442/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This multi-family property requires extensive repairs and updates to bring it up to a livable condition. Immediate investment in exterior siding, painting, HVAC, and landscaping is necessary to increase its resale and rental value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major roof — No photos of roof, but based on exterior condition, likely in poor condition
• Major interior walls/paint — No photos of interior, but based on exterior condition, likely in poor condition
• Major HVAC/mechanicals — No photos of HVAC, but based on exterior condition, likely in poor condition
• Major landscaping — Unkempt and overgrown

Value-add opportunities

• Both exterior siding repair — Improves curb appeal and structural integrity
• Both paint interior and exterior — Enhances appearance and can increase value
• Both HVAC replacement — Improves comfort and energy efficiency
• Both landscaping and curb appeal — Enhances property's visual appeal and can attract more tenants

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
roof · No photos of roof, but based on exterior condition, likely in poor condition	Major	$15,000–50,000
interior walls/paint · No photos of interior, but based on exterior condition, likely in poor condition	Major	$15,000–50,000
HVAC/mechanicals · No photos of HVAC, but based on exterior condition, likely in poor condition	Major	$15,000–50,000
landscaping · Unkempt and overgrown	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both exterior siding repair — Improves curb appeal and structural integrity ↑
• Both paint interior and exterior — Enhances appearance and can increase value ↑
• Both HVAC replacement — Improves comfort and energy efficiency ↑
• Both landscaping and curb appeal — Enhances property's visual appeal and can attract more tenants ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+116.7% since first listed

8 events — show timeline

• 2026-05-13 Price Changed $324,900 WNYREIS
• 2026-05-05 Price Changed $425,000 WNYREIS
• 2026-04-21 Listed $325,000 WNYREIS
• 2026-04-06 Listed $129,900 WNYREIS
• 2026-02-24 Listing Removed — WNYREIS
• 2026-02-06 Relisted — WNYREIS
• 2026-01-13 Price Changed $139,900 WNYREIS
• 2025-12-01 Listed $149,900 WNYREIS

Property tax history

+15.1%/yr

Latest (2025): $1,832 · +3.7% YoY. Source: county tax records.