1533 La Salle Ave · Niagara Falls, NY 14301

$149,900

4 bd · 2.0 ba · 1,496 sqft · MultiFamily public records · 10 Days on market

Built 1925 3,696 sqft lot Est $117k · 28% over

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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
• 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
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Investment Opportunity! This multi-family Upper and Lower style home has a total of 1,496 square feet and is located in the Niagara Falls City School District. This home has a total of 4 bedrooms, 2 baths, with a common access basement that includes separate laundry hookups as well as separate utilities for gas and electricity. Both units have been recently renovated. Each unit consists of 2 bedrooms, 1 full bath, a formal living room and an eat in kitchen. The kitchens in both units have been updated with new cabinetry and countertops. The full baths for each unit have been restored with high end materials as well. Vinyl floors throughout makes for easy maintenance. Enjoy the serenity of t

Key facts

• Separate utilities
• Multi-family home
• Recently renovated

Tags

• MULTI-FAMILY HOME
• COMMON ACCESS BASEMENT
• SEPARATE LAUNDRY HOOKUPS
• SEPARATE UTILITIES
• RECENTLY RENOVATED
• UPDATED CABINETRY

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $722 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 12.1% vs local median 7.7% 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; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $2,334/mo this rent would consume 81% 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 $16k of equity ($1k loan paydown + $15k 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 $42k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 15y 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 $85k; list at $150k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,900

Questions for the listing agent

1. Built in 1925 — 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. 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.
6. 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.
7. 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: 1.56% ✓
• Cap rate: 12.07%
• Cash-on-cash: 20.65%
• DSCR: 1.92
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $116,688
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
746 17th St	0.24mi	4/2.0	1,475 (-1%)	1mo	$72,000	$49	86
1519 Whitney Ave	0.07mi	3/2.0 (-1)	1,408 (-6%)	12mo	$110,000	$78	72
1888 Weston Ave	0.50mi	4/2.0	1,512 (+1%)	4mo	$30,000	$20	71
614 20th St	0.47mi	4/2.0	1,570 (+5%)	1mo	$100,000	$64	69
1970 Whitney Ave	0.34mi	3/2.0 (-1)	1,562 (+4%)	8mo	$122,000	$78	65
2236 Linwood Ave	0.49mi	3/2.0 (-1)	1,544 (+3%)	8mo	$163,000	$106	60
2260 Weston Ave	0.61mi	3/2.0 (-1)	1,540 (+3%)	3mo	$135,000	$88	59
547 21st St	0.58mi	5/2.0 (+1)	1,534 (+2%)	12mo	$129,900	$85	54
2234 Willow Ave	0.46mi	3/2.0 (-1)	1,386 (-7%)	11mo	$105,000	$76	52
555 25th St	0.72mi	4/2.0	1,619 (+8%)	7mo	$128,000	$79	47
420 18th St	0.73mi	4/2.5	1,632 (+9%)	3mo	$115,000	$70	46
1361 North Ave	0.67mi	3/2.0 (-1)	1,711 (+14%)	2mo	$76,000	$44	38

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: 42.6%
• Equity multiple: 4.34×
• Total profit: $140,059
• Equity at exit: $135,042

10-year hold

• IRR: 38.9%
• Equity multiple: 10.70×
• Total profit: $407,011
• Equity at exit: $291,223

Cash invested: $41,972 (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: 10.7×

Monthly cashflow live

• Estimated rent: $2,334 high
• Mortgage (P&I): −$786
• Tax from tax record: −$273 /mo · $3,277/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $722

Break-even live

Break-even rent $1,420

Max offer price $149,900

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,334
Total (2 units)			$2,334

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1001 17th St Niagara Falls, NY	3.0	1.0	1152	$1,800	$1.56	23d	1	0.14mi
784 15th St Niagara Falls, NY	3.0	1.5	1380	$1,350	$0.98	3d	1	0.17mi
754 15th St Niagara Falls, NY	3.0	1.0	990	$1,100	$1.11	23d	1	0.24mi
2020 Forest Ave Niagara Falls, NY	4.0	2.0	1600	$1,500	$0.94	16d	1	0.34mi
724 Augustus Pl Niagara Falls, NY	4.0	1.0	1200	$1,500	$1.25	43d	1	0.66mi
642 Ashland Ave Niagara Falls, NY	3.0	1.0	1238	$1,100	$0.89	3d	1	0.71mi
1427 Fort Ave Unit 2 Niagara Falls, NY	3.0	1.0	1058	$950	$0.90	43d	1	0.71mi
420 25th St Niagara Falls, NY	3.0	1.0	1101	$1,500	$1.36	43d	1	0.94mi
2727 Monroe Ave Niagara Falls, NY	3.0	1.0	960	$1,500	$1.56	10d	1	1.06mi
2420 Mackenna Ave Unit 1 Niagara Falls, NY	4.0	1.0	1300	$1,390	$1.07	1d	1	1.15mi
3036 Welch Ave Niagara Falls, NY	3.0	1.0	1000	$1,500	$1.50	1d	1	1.28mi
3225 Belden Pl Niagara Falls, NY	5.0	1.5	1344	$1,750	$1.30	1d	1	1.35mi
3025 Macklem Ave Niagara Falls, NY	4.0	1.5	1750	$2,200	$1.26	43d	1	1.39mi
3340 Simmons Ave Niagara Falls, NY	3.0	1.0	1008	$1,550	$1.54	14d	1	1.45mi

Listing history 23 events

1. 2026-04-14
   status Pending
2. 2026-04-03
   listed $149,900 Active
3. 2025-11-22
   historical
4. 2025-08-22
   listed $169,900 Active
5. 2025-06-09
   historical
6. 2025-04-19
   listed $159,999 Active
7. 2025-02-05
   listed $149,999 Active
8. 2023-06-08
   soldstatus $85,000
9. 2023-05-31
   soldstatus $83,000 Closed Sale or Rented
10. 2023-04-17
    status Pending Sale
11. 2023-02-17
    historical Continue to Show- Under Contract
12. 2023-01-07
    listed $99,900 Active
13. 2018-05-25
    soldstatus $50,000
14. 2018-05-25
    soldstatus $50,000
15. 2015-03-26
    soldstatus $67,540
16. 2015-02-20
    soldstatus $39,000
17. 2015-01-14
    soldstatus $14,000
18. 2015-01-13
    soldstatus $14,000
19. 2014-09-27
    listed $22,900
20. 2011-12-15
    soldstatus $19,000
21. 2011-12-12
    soldstatus $19,000
22. 2011-07-12
    listed $29,900
23. 1999-03-09
    soldstatus $29,196

ⓘ 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: $3,277 · $273/mo
• Projected year-2 tax: $3,277 · $273/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 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: $28,008
• − Mortgage interest: −$8,397
• − Property taxes: −$3,277
• − Insurance: −$750
• − Repairs & maintenance: −$2,241
• − Management: −$2,241
• − Depreciation: −$4,361
• Taxable income: $6,742
• Est. tax owed @ 24.0%: −$1,618
• After-tax cash flow: $7,048/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

+413.4% since first listed

23 events — show timeline

• 2026-04-14 Pending — WNYREIS
• 2026-04-03 Listed $149,900 WNYREIS
• 2025-11-22 Listing Removed — WNYREIS
• 2025-08-22 Listed $169,900 WNYREIS
• 2025-06-09 Listing Removed — WNYREIS
• 2025-04-19 Listed $159,999 WNYREIS
• 2025-02-05 Listed $149,999 WNYREIS
• 2023-06-08 Sold (Public Records) $85,000 Public Records
• 2023-05-31 Sold (MLS) $83,000 WNYREIS
• 2023-04-17 Pending — WNYREIS
• 2023-02-17 Contingent — WNYREIS
• 2023-01-07 Listed $99,900 WNYREIS
• 2018-05-25 Sold (Public Records) $50,000 Public Records
• 2018-05-25 Sold (Public Records) $50,000 Public Records
• 2015-03-26 Sold (Public Records) $67,540 Public Records
• 2015-02-20 Sold (Public Records) $39,000 Public Records
• 2015-01-14 Sold (Public Records) $14,000 Public Records
• 2015-01-13 Sold (MLS) $14,000 WNYREIS
• 2014-09-27 Listed $22,900 WNYREIS
• 2011-12-15 Sold (MLS) $19,000 WNYREIS
• 2011-12-12 Sold (Public Records) $19,000 Public Records
• 2011-07-12 Listed $29,900 WNYREIS
• 1999-03-09 Sold (Public Records) $29,196 Public Records

Property tax history

+4.5%/yr

Latest (2025): $3,277 · +41.8% YoY. Source: county tax records.