45 E Main St · Pike, NY 14066

$130,000

3 bd · 2.0 ba · 1,458 sqft · SingleFamily · 15 Days on market

Built 1900 Good condition 0.39 ac lot Est $179k · 28% under

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Why this score? — see what drove the C+ 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 +16.4/30.0
• ARV discount +15.0/15.0
• Appreciation +5.4/10.0
• DSCR +5.1/10.0
• Schools +4.6/10.0
• 1% rule +4.5/10.0
• Condition / age +3.8/5.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0

Listing remarks

A great affordable starter home with all the space you need! 3 bedrooms and 2 bathrooms (one located in primary bedroom). First floor laundry and bonus room that can be used as bedroom make this home a great option for downsizes as well. This property comes fully applianced (washer/dryer included!) and turn key. Sellers have loved this home for many years and have renovated from top to bottom throughout that time. Showings being immediately - open house SUN 4/26 from 1-3pm. FHA/VA/USDA buyers welcomed! Don't miss out - Come take a look today!

Key facts

• 0.39 acre lot
• Built 1900
• Listed 15 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Septic tank
• Home design: 2 stories; Existing (resale) property
• Construction: Vinyl siding; Blown-in and spray foam insulation; Block foundation
• Exterior features: Dirt driveway; Pie-shaped lot; Main thoroughfare frontage; Lot dimensions approximately 56 x 298

Interior

• Kitchen: Electric oven; Electric range; Microwave; Refrigerator
• Bedrooms: Total rooms: 6 (includes living, bonus, laundry)
• Flooring: Carpet; Laminate; Varies
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Heating: Electric and oil; Hot water/baseboard heat
• Interior features: Eat-in kitchen; Separate/formal living room; Full basement; Bonus room
• Laundry & utility: Main-level laundry; Washer; Dryer; Oil water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $74 ($886/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 $123k (5.3% below list).
• Recommended offer: $123k (5.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#1,024 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D+, schools F, crime F.
• Letchworth Central School District (rural): math 52% / reading 57% proficiency, ranked #318 of 590 in NY (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 6 active listings in the ZIP; 83 units permitted in Wyoming County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($899 loan paydown + $1k appreciation (0.8% local appreciation)).
• Wyoming County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.8% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,064 (5.3% below list)

Questions for the listing agent

1. Built in 1900 — 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 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?
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. 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: 0.95% ✗
• Cap rate: 6.97%
• Cash-on-cash: 2.43%
• DSCR: 1.11
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $179,334
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27 E Main St	0.16mi	3/1.0	1,590 (+9%)	16mo	$30,000	$19	61
33 Telegraph Rd	0.49mi	3/1.5	1,300 (-11%)	17mo	$160,000	$123	43

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

Projected returns pro-forma

0.77% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.1%
• Equity multiple: 1.16×
• Total profit: $5,721
• Equity at exit: $42,859

10-year hold

• IRR: 7.8%
• Equity multiple: 1.93×
• Total profit: $33,778
• Equity at exit: $55,797

Cash invested: $36,400 (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 14066

• Home prices YoY: 0.3%
• Active inventory: 6
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,231 medium
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $74

Break-even live

Break-even rent $1,137

Max offer price $130,000

Occupancy floor 89%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-08
   status Pending
2. 2026-05-01
   status Active
3. 2026-04-30
   status Pending
4. 2026-04-22
   listed $130,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $14,768
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$650
• − Repairs & maintenance: −$1,181
• − Management: −$1,181
• − Depreciation: −$3,782
• Taxable loss: −$1,259
• Est. tax savings @ 24.0%: +$302
• After-tax cash flow: $1,188/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.

Condition & rehab AI · 14 photos

Good 75/100 Cosmetic rehab

This home is in good condition with cosmetic updates needed, making it a great affordable starter home with potential for further value increases through minor improvements.

Repairs flagged

• Minor Landscaping — Some areas of the lawn could use trimming and some plants could be added for better curb appeal.

Value-add opportunities

• Resale Paint touch-ups — Fresh paint can make a home look more inviting and well-maintained.
• Both Landscaping improvements — A well-maintained yard can increase both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Landscaping · Some areas of the lawn could use trimming and some plants could be added for better curb appeal.	Minor	$500–3,000
Total estimated repair cost · 1 items		$500–3,000

Value-add ROI direction

• Resale Paint touch-ups — Fresh paint can make a home look more inviting and well-maintained. ↑
• Both Landscaping improvements — A well-maintained yard can increase both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Letchworth Central School District
• NCES district ID: 3617130
• Math proficiency: 52% ▼ -6.00%
• Reading proficiency: 57% ▲ 14.00%
• Median HH income: $48,908
• Composite: 46.4/100
• National rank: #2457
• State rank: #318 of 590 in NY

Livability — Pike

• Score: 59/100
• State rank: #1024
• US rank: #19969

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pike, NY
• City population: 110
• Population (ZIP): 1,004

Population outlook (Wyoming County) Hauer SSP2

• Today (2025): 38,976 people
• By 2030: 37,826 · -3.0%
• By 2040: 35,585 · -8.7%
• By 2050: 32,841 · -15.7%
• By 2075: 25,920 · -33.5%
• By 2100: 19,082 · -51.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Romanian 8% Iranian 2% Slovak 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Wyoming

• 2024 margin: Solid R (+48.2) · D 25.9% · R 74.1%
• 2008→2024 swing: -22.1pp toward R · 2008: -26.1pp · 2024: -48.2pp
• All cycles: 2024: R+48.2 2020: R+45.5 2016: R+51.0 2012: R+29.6 2008: R+26.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.77%
• Current HPI: 252.0504
• 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

4 events — show timeline

• 2026-05-08 Pending — WNYREIS
• 2026-05-01 Relisted — WNYREIS
• 2026-04-30 Pending — WNYREIS
• 2026-04-22 Listed $130,000 WNYREIS