27 Porter St · Lockport, NY 14094

$169,900

4 bd · 2.0 ba · 1,638 sqft · Townhouse public records · 3 Days on market

Built 1880 8,712 sqft lot Est $164k · at est.

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Why this score? — see what drove the D+ 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 +18.8/30.0
• DSCR +5.9/10.0
• ARV discount +5.8/15.0
• 1% rule +4.7/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Exceptional duplex investment opportunity offering strong income potential and flexible living arrangements. Each unit features spacious living areas, well-appointed kitchens, comfortable bedrooms, and separate utilities for added convenience. Whether you're an investor seeking steady rental income or an owner-occupant looking to offset your mortgage, this property delivers versatility and value. Situation on a generous lot with ample parking and outdoor space, the home and area were a part of the Superfund program to abate any lead so you will have peace of mind. For added bonus and value right down the street a new park is being developed. The duplex features solid mechanics, new copper w

Key facts

• Separate utilities
• Generous lot
• Parking

Tags

• DUPLEX INVESTMENT OPPORTUNITY
• FLEXIBLE LIVING ARRANGEMENTS
• SPACIOUS LIVING AREAS
• WELL-APPOINTED KITCHENS
• SEPARATE UTILITIES
• GENEROUS LOT

Property features AI

Finance

• Other: Operating expenses include maintenance, snow removal, trash (multi-unit)
• Financial info: Owner pays water, trash collection, snow removal (see remarks)

Exterior

• Parking: Gravel parking; On-street parking available
• Utilities: Public water connected; Sewer connected; Circuit breaker electrical service
• Home design: 2-story property; Existing construction
• Construction: Vinyl siding; Copper plumbing; Asphalt roof; Stone foundation; Built (existing)
• Exterior features: Partial fencing; Fence

Interior

• Flooring: Carpet; Laminate; Varies
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Ceiling fan(s); Other (see remarks)
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $170k.

Deal economics

• At list price, monthly cash flow is $171 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (3.4% below list).
• Recommended offer: $164k (3.4% below list) — sets the bar for 1% rule.
• Cap rate 7.5% 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); 357 active listings in the ZIP; solid renter incomes; 167 units permitted in Niagara County in 2024 (0 in 5+ unit buildings).

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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,100 (3.4% below list)

Questions for the listing agent

1. Built in 1880 — 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 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?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 7.50%
• Cash-on-cash: 4.31%
• DSCR: 1.19
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $163,800
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 Hill St	0.43mi	4/2.0	1,393 (-15%)	8mo	$139,900	$100	49

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: -8.8%
• Equity multiple: 0.67×
• Total profit: $-15,540
• Equity at exit: $25,333

10-year hold

• IRR: 1.5%
• Equity multiple: 1.11×
• Total profit: $5,092
• Equity at exit: $14,690

Cash invested: $47,572 (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: 357
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,641 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$164 /mo · $1,965/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $171

Break-even live

Break-even rent $1,425

Max offer price $169,900

Occupancy floor 85%

Sensitivity live

Price	-10% $267	-5% $219	+0% $171	+5% $123	+10% $75
Rent	-10% $41	-5% $106	+0% $171	+5% $236	+10% $301
Rate	-1.0pp $256	-0.5pp $214	base $171	+0.5pp $127	+1.0pp $82

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-18
   days on market $169,900 Active 3 DOM
2. 2026-06-17
   days on market $169,900 Active 2 DOM
3. 2026-06-15
   remarks 699-char remark
4. 2026-06-15
   listed $169,900 Active 1 DOM

ⓘ 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: $1,965 · $164/mo
• Projected year-2 tax: $2,418 · $202/mo
• Expected delta: +$453/yr (+$38/mo · 23.1%)

ⓘ 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) · 20% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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: $19,692
• − Mortgage interest: −$9,517
• − Property taxes: −$1,965
• − Insurance: −$850
• − Repairs & maintenance: −$1,575
• − Management: −$1,575
• − Depreciation: −$4,943
• Taxable loss: −$733
• Est. tax savings @ 24.0%: +$176
• After-tax cash flow: $2,226/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

1 event — show timeline

• 2026-06-15 Listed $169,900 WNYREIS

Property tax history

+5.7%/yr

Latest (2025): $1,965 · +3.3% YoY. Source: county tax records.