548 19th St · Niagara Falls, NY 14301

$79,900

4 bd · 2.0 ba · 1,265 sqft · MultiFamily public records · 13 Days on market

Built 1920 3,380 sqft lot Est $85k · 6% 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 +10.1/15.0
• 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: 2 units. confirmed

Listing remarks

Investors take notice! Nice 2 unit in Niagara Falls is close to many city amenities. 2 bedrooms and full bath in each. Full basement, newer roof and hot water tank. 1 unit is currently rented.

Key facts

• Hot water tank
• Newer roof
• Full basement

Tags

• 2 UNIT
• FULL BASEMENT
• NEWER ROOF
• HOT WATER TANK
• CLOSE TO MANY CITY AMENITIES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $80k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $622/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Cap rate 25.0% vs local median 7.6% 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; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $2,333/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 $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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 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 $33k; list at $80k implies a 142% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $79,900

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 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?
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: 2.92% ✓
• Cap rate: 24.98%
• Cash-on-cash: 66.76%
• DSCR: 3.97
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $84,755
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
548 19th St	0.00mi	4/2.0	1,265 (0%)	1mo	$62,500	$49	99
514 18th St	0.09mi	3/2.0 (-1)	1,260 (-0%)	14mo	$88,740	$70	79
445 18th St	0.21mi	4/2.0	1,320 (+4%)	15mo	$55,000	$42	71
443 21st St	0.25mi	3/2.0 (-1)	1,428 (+13%)	10mo	$65,000	$46	53
2719 Pine Ave	0.56mi	3/3.0 (-1)	1,280 (+1%)	16mo	$79,000	$62	50
1208 17th St	0.52mi	3/2.0 (-1)	1,378 (+9%)	12mo	$92,500	$67	46
709 Townsend Pl	0.74mi	3/2.0 (-1)	1,295 (+2%)	14mo	$117,500	$91	45
2771 Livingston Ave	0.65mi	4/2.0	1,408 (+11%)	7mo	$88,000	$63	45
1519 Whitney Ave	0.57mi	3/2.0 (-1)	1,408 (+11%)	12mo	$110,000	$78	40
2234 Willow Ave	0.72mi	3/2.0 (-1)	1,386 (+10%)	11mo	$105,000	$76	36

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: 82.5%
• Equity multiple: 7.04×
• Total profit: $135,176
• Equity at exit: $71,980

10-year hold

• IRR: 78.6%
• Equity multiple: 17.38×
• Total profit: $366,406
• 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: 5.7×

Monthly cashflow live

• Estimated rent: $2,333 high
• Mortgage (P&I): −$419
• Tax from tax record: −$146 /mo · $1,754/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $1,245

Break-even live

Break-even rent $758

Max offer price $79,900

Occupancy floor 42%

Sensitivity live

Price	-10% $1,290	-5% $1,267	+0% $1,245	+5% $1,222	+10% $1,199
Rent	-10% $1,060	-5% $1,152	+0% $1,245	+5% $1,337	+10% $1,429
Rate	-1.0pp $1,285	-0.5pp $1,265	base $1,245	+0.5pp $1,224	+1.0pp $1,203

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,332
Total (2 units)			$2,333

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 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1427 Fort Ave Unit 2 Niagara Falls, NY	3.0	1.0	1058	$950	$0.90	44d	1	0.32mi
754 15th St Niagara Falls, NY	3.0	1.0	990	$1,100	$1.11	24d	1	0.36mi
2020 Forest Ave Niagara Falls, NY	4.0	2.0	1600	$1,500	$0.94	18d	1	0.37mi
1001 17th St Niagara Falls, NY	3.0	1.0	1152	$1,800	$1.56	24d	1	0.39mi
784 15th St Niagara Falls, NY	3.0	1.5	1380	$1,350	$0.98	4d	1	0.42mi
420 25th St Niagara Falls, NY	3.0	1.0	1101	$1,500	$1.36	44d	1	0.45mi
2727 Monroe Ave Niagara Falls, NY	3.0	1.0	960	$1,500	$1.56	11d	1	0.61mi
2420 Mackenna Ave Unit 1 Niagara Falls, NY	4.0	1.0	1300	$1,390	$1.07	2d	1	0.63mi
724 Augustus Pl Niagara Falls, NY	4.0	1.0	1200	$1,500	$1.25	44d	1	0.73mi
3036 Welch Ave Niagara Falls, NY	3.0	1.0	1000	$1,500	$1.50	2d	1	0.84mi
3225 Belden Pl Niagara Falls, NY	5.0	1.5	1344	$1,750	$1.30	2d	1	0.97mi
642 Ashland Ave Niagara Falls, NY	3.0	1.0	1238	$1,100	$0.89	4d	1	1.01mi
3340 Simmons Ave Niagara Falls, NY	3.0	1.0	1008	$1,550	$1.54	15d	1	1.07mi

Listing history 15 events

1. 2026-02-09
   status Pending
2. 2026-01-27
   listed $79,900 Active
3. 2024-09-25
   listed $84,900 Active
4. 2024-05-15
   status Pending
5. 2024-05-10
   listed $84,900 Active
6. 2024-05-09
   historical
7. 2024-04-08
   listed $84,900 Active
8. 2023-04-03
   soldstatus $33,000 Closed Sale or Rented
9. 2023-04-03
   soldstatus $33,000
10. 2023-03-30
    status Pending Sale
11. 2023-02-06
    status Under Contract- Do Not Show
12. 2023-02-02
    listed $32,900 Active
13. 2010-08-10
    soldstatus $17,000
14. 2010-08-07
    soldstatus $17,000
15. 2010-03-04
    listed $19,900

ⓘ 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: $1,754 · $146/mo
• Projected year-2 tax: $1,754 · $146/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 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: $27,996
• − Mortgage interest: −$4,476
• − Property taxes: −$1,754
• − Insurance: −$400
• − Repairs & maintenance: −$2,240
• − Management: −$2,240
• − Depreciation: −$2,324
• Taxable income: $14,563
• Est. tax owed @ 24.0%: −$3,495
• After-tax cash flow: $11,440/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

+301.5% since first listed

15 events — show timeline

• 2026-02-09 Pending — WNYREIS
• 2026-01-27 Listed $79,900 WNYREIS
• 2024-09-25 Listed $84,900 WNYREIS
• 2024-05-15 Pending — WNYREIS
• 2024-05-10 Listed $84,900 WNYREIS
• 2024-05-09 Listing Removed — WNYREIS
• 2024-04-08 Listed $84,900 WNYREIS
• 2023-04-03 Sold (Public Records) $33,000 Public Records
• 2023-04-03 Sold (MLS) $33,000 WNYREIS
• 2023-03-30 Pending — WNYREIS
• 2023-02-06 Pending — WNYREIS
• 2023-02-02 Listed $32,900 WNYREIS
• 2010-08-10 Sold (Public Records) $17,000 Public Records
• 2010-08-07 Sold (MLS) $17,000 WNYREIS
• 2010-03-04 Listed $19,900 WNYREIS

Property tax history

+5.6%/yr

Latest (2025): $1,754 · -26.7% YoY. Source: county tax records.