746 17th St · Niagara Falls, NY 14301

$79,900

2 bd · 2.0 ba · 1,475 sqft · MultiFamily public records · 15 Days on market

Built 1910 4,026 sqft lot Est $112k · 29% 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: 1 unit. estimate disagrees with records

Listing remarks

Welcome to 746 17th St in Niagara Falls — a solid opportunity for investors or owner-occupants looking to offset their mortgage. This two-unit property is ideally located just a short walk to Pine Ave, putting you close to restaurants, shops, and everyday conveniences. The upper unit has been refreshed with new carpets, fixtures, and fresh paint, making it vacant and rent-ready for immediate occupancy or tenant placement. The lower unit is currently rented for $525/month to an excellent paying tenant, providing immediate income from day one. Major mechanical updates add value and peace of mind, including newer furnaces, one newer hot water tank, and updated electric service. Combined

Key facts

• Two unit property
• Upper unit refreshed
• Newer furnaces

Tags

• TWO UNIT PROPERTY
• SHORT WALK TO PINE AVE
• UPPER UNIT REFRESHED
• LOWER UNIT RENTED
• NEWER FURNACES
• NEWER HOT WATER TANK

🏷️ Possibly a rental listed for sale. The $79,900 price doesn't fit this home's estimated sale value (~$112,100) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $80k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 23.6% 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; 21 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 $2,310/mo this rent would consume 80% 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 $9k of equity ($552 loan paydown + $8k 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 $22k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y 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 $54k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,701 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 2.89% ✓
• Cap rate: 23.64%
• Cash-on-cash: 61.96%
• DSCR: 3.76
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $112,100
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1519 Whitney Ave	0.30mi	3/2.0 (+1)	1,408 (-4%)	12mo	$110,000	$78	64
1208 17th St	0.26mi	3/2.0 (+1)	1,378 (-7%)	12mo	$92,500	$67	62
1970 Whitney Ave	0.41mi	3/2.0 (+1)	1,562 (+6%)	8mo	$122,000	$78	59
443 21st St	0.53mi	3/2.0 (+1)	1,428 (-3%)	10mo	$65,000	$46	57
1805 Weston Ave	0.60mi	2/2.0	1,610 (+9%)	1mo	$20,000	$12	56
2236 Linwood Ave	0.61mi	3/2.0 (+1)	1,544 (+5%)	8mo	$163,000	$106	52
2260 Weston Ave	0.74mi	3/2.0 (+1)	1,540 (+4%)	3mo	$135,000	$88	50
2234 Willow Ave	0.56mi	3/2.0 (+1)	1,386 (-6%)	11mo	$105,000	$76	49
514 18th St	0.32mi	3/2.0 (+1)	1,260 (-15%)	14mo	$88,740	$70	44
709 Townsend Pl	0.65mi	3/2.0 (+1)	1,295 (-12%)	14mo	$117,500	$91	33
1926 Welch Ave	0.61mi	3/2.0 (+1)	1,690 (+15%)	13mo	$65,000	$38	32
2719 Pine Ave	0.67mi	3/3.0 (+1)	1,280 (-13%)	16mo	$79,000	$62	24

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: 78.4%
• Equity multiple: 6.78×
• Total profit: $129,405
• Equity at exit: $71,980

10-year hold

• IRR: 74.4%
• Equity multiple: 16.81×
• Total profit: $353,674
• Equity at exit: $155,228

Cash invested: $22,372 (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: 5.8×

Monthly cashflow live

• Estimated rent: $2,310 high
• Mortgage (P&I): −$419
• Tax from tax record: −$217 /mo · $2,609/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $1,155

Break-even live

Break-even rent $848

Max offer price $79,900

Occupancy floor 45%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,310
Total (2 units)			$2,310

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
754 15th St Niagara Falls, NY	3.0	1.0	990	$1,100	$1.11	23d	1	0.12mi
784 15th St Niagara Falls, NY	3.0	1.5	1380	$1,350	$0.98	3d	1	0.16mi
1001 17th St Niagara Falls, NY	3.0	1.0	1152	$1,800	$1.56	23d	1	0.17mi
769 19th St Niagara Falls, NY	2.0	1.5	960	$1,400	$1.46	21d	1	0.18mi
1808 Whitney Ave Unit 3 Niagara Falls, NY	2.0	1.0	1200	$900	$0.75	43d	1	0.36mi
1427 Fort Ave Unit 2 Niagara Falls, NY	3.0	1.0	1058	$950	$0.90	43d	1	0.44mi
1780 Falls St Niagara Falls, NY	2.0	1.0	1100	$1,200	$1.09	43d	1	0.62mi
700 Pine Ave Unit 1 Niagara Falls, NY	1.0	1.0	1075	$1,075	$1.00	11d	1	0.63mi
2473 Pierce Ave Unit 2 Niagara Falls, NY	2.0	1.0	1000	$1,200	$1.20	3d	1	0.68mi
420 25th St Niagara Falls, NY	3.0	1.0	1101	$1,500	$1.36	43d	1	0.70mi
510 6th St Unit 3 Niagara Falls, NY	1.0	1.0	950	$900	$0.95	43d	1	0.77mi
642 Ashland Ave Niagara Falls, NY	3.0	1.0	1238	$1,100	$0.89	3d	1	0.79mi
2727 Monroe Ave Niagara Falls, NY	3.0	1.0	960	$1,500	$1.56	10d	1	0.85mi
1817 Ontario Ave Unit 2 Niagara Falls, NY	2.0	1.0	985	$1,899	$1.93	1d	1	0.87mi
1817 Ontario Ave Unit 1 Niagara Falls, NY	2.0	1.0	999	$1,899	$1.90	1d	1	0.87mi
2463 South Ave Niagara Falls, NY	2.0	1.0	1008	$1,100	$1.09	17d	1	0.88mi
3036 Welch Ave Niagara Falls, NY	3.0	1.0	1000	$1,500	$1.50	1d	1	1.08mi
714 Buffalo Ave Unit 3 Niagara Falls, NY	1.0	1.0	1000	$1,200	$1.20	43d	1	1.08mi
714 Buffalo Ave Unit 4 Niagara Falls, NY	1.0	1.0	1000	$1,000	$1.00	43d	1	1.08mi
3340 Simmons Ave Niagara Falls, NY	3.0	1.0	1008	$1,550	$1.54	14d	1	1.28mi
2814 10th St Niagara Falls, NY	2.0	1.0	900	$900	$1.00	1d	1	1.33mi

Listing history 6 events

1. 2026-03-27
   status Pending
2. 2026-03-12
   listed $79,900 Active
3. 2019-07-10
   soldstatus $54,000
4. 2011-12-21
   soldstatus $23,500
5. 2010-07-18
   listed $27,900
6. 2004-06-29
   soldstatus $24,000

ⓘ 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: $2,609 · $217/mo
• Projected year-2 tax: $2,609 · $217/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 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: $27,720
• − Mortgage interest: −$4,476
• − Property taxes: −$2,609
• − Insurance: −$400
• − Repairs & maintenance: −$2,218
• − Management: −$2,218
• − Depreciation: −$2,324
• Taxable income: $13,476
• Est. tax owed @ 24.0%: −$3,234
• After-tax cash flow: $10,628/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

+232.9% since first listed

6 events — show timeline

• 2026-03-27 Pending — WNYREIS
• 2026-03-12 Listed $79,900 WNYREIS
• 2019-07-10 Sold (Public Records) $54,000 Public Records
• 2011-12-21 Sold (MLS) $23,500 WNYREIS
• 2010-07-18 Listed $27,900 WNYREIS
• 2004-06-29 Sold (Public Records) $24,000 Public Records

Property tax history

+6.5%/yr

Latest (2025): $2,609 · +39.2% YoY. Source: county tax records.