71 Friendship St · Bolivar, NY 14715

$79,900

2 bd · 1.5 ba · 1,388 sqft · SingleFamily public records · 13 Days on market

Built 1921 6,970 sqft lot Est $54k · 48% 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 +29.1/30.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Appreciation +7.2/10.0
• Schools +4.2/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

This charming 1,388 sq. ft. two-story home offers a perfect blend of historic character and functional living space, making it an ideal opportunity for a first-time homebuyer or an investor looking for a high-potential rental. With 7 total rooms, including 3 bedrooms (one conveniently located on the first floor) and 1.5 baths, this home provides plenty of flexibility for a growing family or a home office setup. The property includes a full basement and a detached 1-car garage with a concrete driveway—perfect for hobbies, extra storage, or protecting your vehicle from the elements. The home features an oversized fenced inside lot perfect for pets or children to play. Open house Saturda

Key facts

• Full basement
• Historic character
• Oversized fenced lot

Tags

• HISTORIC CHARACTER
• FULL BASEMENT
• DETACHED GARAGE
• CONCRETE DRIVEWAY
• OVERSIZED FENCED LOT

Property features AI

Exterior

• Parking: Detached garage; 1 garage space
• Utilities: Public water connected; Sewer connected
• Home design: 2-story home; Existing (resale) property
• Construction: Wood siding; Block foundation
• Exterior features: Concrete driveway; Rectangular lot; Agricultural zoning

Interior

• Kitchen: Gas oven; Gas range; Microwave
• Bedrooms: 1 main-level bedroom
• Flooring: Carpet; Tile; Vinyl; Varied flooring
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Breakfast bar; Full basement
• Laundry & utility: Main-level laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).

Location & tenants

• Location reads 66/100 on livability (#644 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, schools D, crime F.
• Bolivar-Richburg Central School District (rural): math 50% / reading 51% proficiency, ranked #395 of 590 in NY (top 67%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 20 active listings in the ZIP; 87 units permitted in Allegany County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($552 loan paydown + $4k appreciation (4.4% local appreciation)).
• Allegany County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.4% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1921 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,900

Questions for the listing agent

1. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-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 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: 1.40% ✓
• Cap rate: 10.42%
• Cash-on-cash: 14.73%
• DSCR: 1.66
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $54,132
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
67 Friendship St	0.01mi	2/2.0	1,563 (+13%)	14mo	$60,000	$38	65
65 Olean St	0.06mi	3/1.5 (+1)	1,536 (+11%)	13mo	$62,500	$41	63
577 S Main St	0.49mi	3/1.0 (+1)	1,392 (+0%)	10mo	$40,000	$29	61
214 Olive St	0.56mi	3/2.0 (+1)	1,527 (+10%)	6mo	$58,900	$39	46
183 Wellsville St	0.39mi	3/1.5 (+1)	1,196 (-14%)	15mo	$69,000	$58	42
106 2nd St	0.22mi	3/1.0 (+1)	1,580 (+14%)	23mo	$46,000	$29	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.4% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.7%
• Equity multiple: 2.33×
• Total profit: $29,728
• Equity at exit: $42,374

10-year hold

• IRR: 21.7%
• Equity multiple: 4.55×
• Total profit: $79,362
• Equity at exit: $70,835

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 14715

• Home prices YoY: 1.4%
• Active inventory: 20
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,116 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$155 /mo · $1,857/yr
• Insurance: −$33
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $219

Break-even live

Break-even rent $839

Max offer price $79,900

Occupancy floor 75%

Sensitivity live

Price	-10% $264	-5% $242	+0% $219	+5% $197	+10% $174
Rent	-10% $131	-5% $175	+0% $219	+5% $263	+10% $307
Rate	-1.0pp $259	-0.5pp $239	base $219	+0.5pp $198	+1.0pp $177

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: —

Listing history 2 events

1. 2026-04-29
   status Pending
2. 2026-04-16
   listed $79,900 Active

ⓘ 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: $1,857 · $155/mo
• Projected year-2 tax: $1,857 · $155/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 8/10 Severe FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 9 d/yr ≥88°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,394
• − Mortgage interest: −$4,476
• − Property taxes: −$1,857
• − Insurance: −$1,066
• − Repairs & maintenance: −$1,071
• − Management: −$1,071
• − Depreciation: −$2,324
• Taxable income: $1,528
• Est. tax owed @ 24.0%: −$367
• After-tax cash flow: $2,263/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: Bolivar-Richburg Central School District
• NCES district ID: 3600012
• Math proficiency: 50% ▲ 9.00%
• Reading proficiency: 51% ▲ 8.00%
• Median HH income: $40,153
• Composite: 42.26/100
• National rank: #3277
• State rank: #395 of 590 in NY

Livability — Bolivar

• Score: 66/100
• State rank: #644
• US rank: #12061

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D+ Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bolivar, NY
• Population (ZIP): 2,374

Population outlook (Allegany County) Hauer SSP2

• Today (2025): 45,362 people
• By 2030: 43,078 · -5.0%
• By 2040: 38,031 · -16.2%
• By 2050: 33,634 · -25.9%
• By 2075: 25,285 · -44.3%
• By 2100: 18,902 · -58.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Slovak 3% Romanian 2% Italian 2%
• Foreign-born: 0%

Political lean MEDSL · Allegany

• 2024 margin: Solid R (+43.2) · D 28.4% · R 71.6%
• 2008→2024 swing: -21.5pp toward R · 2008: -21.7pp · 2024: -43.2pp
• All cycles: 2024: R+43.2 2020: R+38.9 2016: R+42.3 2012: R+25.3 2008: R+21.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.40%
• Current HPI: 312.0332
• Rent YoY: —
• Metro: —
• 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

2 events — show timeline

• 2026-04-29 Pending — WNYREIS
• 2026-04-16 Listed $79,900 WNYREIS

Property tax history

+1.7%/yr

Latest (2025): $1,857 · +1.1% YoY. Source: county tax records.