c.1830 New York Fixer Upper MultiFamily Home Under $50K
OHU50K Notesย ย $49,900

Realtor Comments
Investor special. Welcome to 195 Prospect St in Lockport, NY. This 3,382 Square Foot, 3 family homes offers so much potential. 2 lower units and one upper unit – very spacious. While rehab is required to bring it back to it’s former glory this layout allows for amazing apartment opportunities with tons of room. Additionally, there is ample parking including a 4 car garage for additional potential cash flow, storage and protection from the elements. The two lower apartments have basement access – while the upper could have in unit laundry. Roof Approximately 10 Years Old. New Electrical panel- new service line and meter. Ample Parking. Showing being immediately.
- 9 bed
- 3 bath
- 3,988 sqft
- 0.31 acre lot
- Build date 1830
If interested in a property, pleases contact the realtor whose link is provided in the post below, or contact an agent of your own choosing. Independent verification of details and status is recommended.ย
195 Prospect St, Lockport, NY 14094ย ย $49,900
- Contact Realtor: Joshua Mcdougall
- Google Map
- Niche
Pros of Lockport, NY
1. Affordable (especially for New York)
- Cost of living index around 83 (below U.S. average)
- Ranked among the cheapest places in New York
- Median rent under ~$1,000
ย Big advantage if you want New York living without NYC prices
2. Affordable housing
- Median home values are relatively low for NY (~$250K range)
ย Easier homeownership compared to most of the state
3. Generally decent safety (with nuance)
- Violent crime is ~16% below the national average
- Overall safety ranks around average to above-average depending on dataset
ย Not crime-free, but safer than many similar small cities
4. Small-city feel with suburban vibe
- Population ~20,000
- โSparse suburbanโ feel with space and quieter neighborhoods
ย Good balance of:
- Not rural
- Not overwhelming
5. Location near bigger cities & attractions
- About 30โ45 minutes from Buffalo
- Near Niagara Falls and Lake Ontario
ย You get access to bigger-city amenities without living in one
6. History and character
- Located along the Erie Canal with historic architecture and tourism appeal
ย More charm than many small Rust Belt cities
ย Cons of Lockport, NY
1. Economic limitations
- Median income ~$59K
- Poverty rate ~16%
ย Not a booming economy; job options are somewhat limited
2. Property crime is higher
- Property crime about 50% higher than national average
ย Theft and similar issues are more common than violent crime
3. Population decline
- Population has been slowly shrinking
ย Can mean:
- Less economic growth
- Fewer new businesses
4. Limited amenities
- Smaller city โ fewer:
- Restaurants
- Shopping options
- Entertainment
ย Many residents rely on Buffalo for more variety
5. Cold, gray Upstate NY weather
- Long winters, lake-effect snow, and cloud cover
ย This is a major lifestyle factor if you prefer warmth/sun
6. Older infrastructure & housing
- Many homes are older
ย Can mean: - More maintenance
- Mixed neighborhood quality
ย Real-world perspective (from locals online)
From Reddit:
โSmall but quiet placeโฆ shopping is kind of limited.โ
โHas its warts butโฆ not terrible.โ
ย Translation:
Livable and improving in spots, but still has typical small-city Rust Belt issues
ย Bottom line
Lockport is a good fit if you want:
- Affordable living in New York
- A quieter, small-city/suburban feel
- Access to Buffalo and Niagara region
It may NOT be great if you want:
- Strong job growth or high salaries
- Lots of amenities or nightlife
- Warm weather
- Uniformly low property crime
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