119 Seneca St · Wellsville, NY 14895

$123,900

4 bd · 1.0 ba · 802 sqft · SingleFamily public records · 80 Days on market

Built 1910 8,712 sqft lot $154/sqft · 38% above area Est $135k · 8% under

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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 +26.4/30.0
• ARV discount +11.1/15.0
• Appreciation +10.0/10.0
• DSCR +9.0/10.0
• 1% rule +6.7/10.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to 119 Seneca St, a turn-key rental opportunity located in the heart of Wellsville, just steps from the scenic River Walk. Whether you’re looking for a great starter home, a long-term rental, or a short-term rental investment, this property offers flexibility and immediate usability. The home has been updated with new flooring throughout and new doors, creating a clean, modern feel that’s ready for occupants right away. Its central location puts you minutes from shopping, dining, and everyday amenities, making it highly attractive to both tenants and homeowners. With strong rental potential and a desirable location, 119 Seneca St is a smart addition to any portfolio or a great place to call home!

Key facts

• 8,712 sq ft lot
• Built 1910
• Listed 80 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $124k.

Deal economics

• At list price, monthly cash flow is $324 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $124k).
• Recommended offer: $116k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 6.6% in Wellsville — 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 73/100 on livability (#336 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, crime C-, employment C-.
• Wellsville Central School District (town): math 42% / reading 53% proficiency, ranked #442 of 590 in NY (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 55 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 87 units permitted in Allegany County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($857 loan paydown + $12k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $25k; list at $124k implies a 388% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,466 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.17% ✓
• Cap rate: 9.43%
• Cash-on-cash: 11.20%
• DSCR: 1.50
• GRM: 7.1

CMA / ARV

• ARV (median comp): $134,729
• List price: $123,900
• Delta: -8.04%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.5%
• Equity multiple: 3.54×
• Total profit: $88,102
• Equity at exit: $111,619

10-year hold

• IRR: 28.0%
• Equity multiple: 8.01×
• Total profit: $243,230
• Equity at exit: $240,710

Cash invested: $34,692 (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 14895

• Home prices YoY: 6.9%
• Active inventory: 55
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,450 medium
• Mortgage (P&I): −$650
• Tax from tax record: −$120 /mo · $1,444/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $324

Break-even live

Break-even rent $1,040

Max offer price $123,900

Occupancy floor 73%

Sensitivity live

Price	-10% $394	-5% $359	+0% $324	+5% $289	+10% $254
Rent	-10% $209	-5% $267	+0% $324	+5% $381	+10% $438
Rate	-1.0pp $386	-0.5pp $355	base $324	+0.5pp $292	+1.0pp $259

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: $30,975
• Closing costs: $3,717
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
46 Pine St Wellsville, NY	3.0	2.0	1000	$1,450	$1.45	44d	1	0.73mi

Listing history 18 events

1. 2026-06-21
   days on market $123,900 Active 80 DOM
2. 2026-06-18
   days on market $123,900 Active 78 DOM
3. 2026-06-17
   days on market $123,900 Active 77 DOM
4. 2026-06-16
   days on market $123,900 Active 76 DOM
5. 2026-06-15
   days on market $123,900 Active 75 DOM
6. 2026-06-13
   days on market $123,900 Active 73 DOM
7. 2026-06-12
   days on market $123,900 Active 72 DOM
8. 2026-06-09
   days on market $123,900 Active 69 DOM
9. 2026-06-08
   days on market $123,900 Active 68 DOM
10. 2026-06-07
    days on market $123,900 Active 67 DOM
11. 2026-06-05
    days on market $123,900 Active 65 DOM
12. 2026-06-04
    days on market $123,900 Active 63 DOM
13. 2026-06-02
    days on market $123,900 Active 62 DOM
14. 2026-06-01
    days on market $123,900 Active 61 DOM
15. 2026-05-31
    days on market $123,900 Active 60 DOM
16. 2026-04-02
    price $123,900 725-char remark

    Show marketing remark (725 chars)

    Welcome to 119 Seneca St, a turn-key rental opportunity located in the heart of Wellsville, just steps from the scenic River Walk. Whether you’re looking for a great starter home, a long-term rental, or a short-term rental investment, this property offers flexibility and immediate usability. The home has been updated with new flooring throughout and new doors, creating a clean, modern feel that’s ready for occupants right away. Its central location puts you minutes from shopping, dining, and everyday amenities, making it highly attractive to both tenants and homeowners. With strong rental potential and a desirable location, 119 Seneca St is a smart addition to any portfolio or a great place to call home!

17. 2026-04-01
    listed $119,900 Active 725-char remark

    Show marketing remark (725 chars)

    Welcome to 119 Seneca St, a turn-key rental opportunity located in the heart of Wellsville, just steps from the scenic River Walk. Whether you’re looking for a great starter home, a long-term rental, or a short-term rental investment, this property offers flexibility and immediate usability. The home has been updated with new flooring throughout and new doors, creating a clean, modern feel that’s ready for occupants right away. Its central location puts you minutes from shopping, dining, and everyday amenities, making it highly attractive to both tenants and homeowners. With strong rental potential and a desirable location, 119 Seneca St is a smart addition to any portfolio or a great place to call home!

18. 2003-01-29
    soldstatus $25,400

ⓘ 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: $1,444 · $120/mo
• Projected year-2 tax: $1,769 · $147/mo
• Expected delta: +$325/yr (+$27/mo · 22.5%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥89°F today · 18 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: $17,400
• − Mortgage interest: −$6,940
• − Property taxes: −$1,444
• − Insurance: −$620
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$3,604
• Taxable income: $2,008
• Est. tax owed @ 24.0%: −$482
• After-tax cash flow: $3,404/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: Wellsville Central School District
• NCES district ID: 3630480
• Math proficiency: 42% ▼ -10.00%
• Reading proficiency: 53% ▲ 6.00%
• Median HH income: $39,964
• Composite: 39.71/100
• National rank: #3903
• State rank: #442 of 590 in NY

Livability — Wellsville

• Score: 73/100
• State rank: #336
• US rank: #5669

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wellsville, NY
• Population (ZIP): 9,117

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 (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Slovak 3% Italian 3% Romanian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · German/W. Germanic 1%

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: ▲ 18.16%
• Current HPI: 280.3569
• 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

+387.8% since first listed

3 events — show timeline

• 2026-04-02 Price Changed $123,900 WNYREIS
• 2026-04-01 Listed $119,900 WNYREIS
• 2003-01-29 Sold (Public Records) $25,400 Public Records

Property tax history

-0.9%/yr

Latest (2025): $1,444 · +3.2% YoY. Source: county tax records.