88 Washington St · Salamanca, NY 14779

$129,900

1 bd · 1.0 ba · 1,426 sqft · SingleFamily public records · 8 Days on market

Built 1900 0.39 ac lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Appreciation +7.3/10.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome home to this move-in ready ranch that checks all the boxes with curb appeal, comfort, and an extremely affordable cost of living! Set on a beautifully manicured lot with frontage on both Washington Street and School Street, this home offers an attractive setting inside and out. Step inside through the spacious mudroom with dual closets, leading to a convenient laundry area and large bathroom. The country-style kitchen opens nicely into the expansive living and dining room combo, creating a warm and functional layout for everyday living or entertaining. The huge primary bedroom is truly a standout, offering the space of a studio apartment and the flexibility to easily divide it into

Key facts

• Laundry area
• Large bathroom
• Dual closets

Tags

• MANICURED LOT
• DUAL CLOSETS
• LAUNDRY AREA
• LARGE BATHROOM
• COUNTRY-STYLE KITCHEN
• LIVING AND DINING ROOM

Property features AI

Exterior

• Parking: Detached garage; Garage with door opener; Driveway parking; 2-car garage
• Utilities: Electricity connected (circuit breakers); Public water connected; Sewer connected; High-speed internet available; Cable available
• Home design: Single-story home; Vinyl siding; Existing/resale property
• Construction: Vinyl siding construction; Block foundation; Built as existing structure
• Exterior features: Concrete driveway; Covered patio/porch; Patio

Interior

• Kitchen: Electric oven and range; Dishwasher
• Bedrooms: One main-level bedroom
• Flooring: Carpet; Tile; Vinyl; Varied flooring
• Bathrooms: One full bathroom on main level
• Heating & cooling: Electric baseboard heating
• Interior features: Ceiling fan(s); Separate/formal living room; Open living/dining area; Pull-down attic stairs; Primary bedroom on main level; Partial walk-out basement
• Laundry & utility: Main-level laundry; Washer and dryer (included); Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $537 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).

Location & tenants

• Location reads 71/100 on livability (#380 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, crime C-, amenities F.
• Salamanca City School District (town): math 29% / reading 43% proficiency, ranked #560 of 590 in NY (top 95%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 27 active listings in the ZIP; 128 units permitted in Cattaraugus County in 2024 (21 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($898 loan paydown + $6k appreciation (4.5% local appreciation)).
• Cattaraugus County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.5% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $60k; list at $130k implies a 116% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $129,900

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. 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.
4. 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.
5. 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: 1.28% ✓
• Cap rate: 11.26%
• Cash-on-cash: 17.72%
• DSCR: 1.79
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.52% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.3%
• Equity multiple: 2.67×
• Total profit: $60,603
• Equity at exit: $69,888

10-year hold

• IRR: 26.5%
• Equity multiple: 5.27×
• Total profit: $155,299
• Equity at exit: $117,644

Cash invested: $36,372 (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 14779

• Home prices YoY: 1.4%
• Active inventory: 27
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,661 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$40 /mo · $474/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $537

Break-even live

Break-even rent $981

Max offer price $129,900

Occupancy floor 63%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-09
   status $129,900 Pending 8 DOM
2. 2026-06-08
   days on market $129,900 Active 8 DOM
3. 2026-06-07
   days on market $129,900 Active 7 DOM
4. 2026-06-05
   days on market $129,900 Active 5 DOM
5. 2026-06-04
   days on market $129,900 Active 3 DOM
6. 2026-06-02
   days on market $129,900 Active 2 DOM
7. 2026-06-01
   remarks 699-char remark
8. 2026-06-01
   listed $129,900 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: $474 · $40/mo
• Projected year-2 tax: $1,335 · $111/mo
• Expected delta: +$861/yr (+$72/mo · 181.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 8 d/yr ≥90°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: $19,930
• − Mortgage interest: −$7,276
• − Property taxes: −$474
• − Insurance: −$650
• − Repairs & maintenance: −$1,594
• − Management: −$1,594
• − Depreciation: −$3,779
• Taxable income: $4,562
• Est. tax owed @ 24.0%: −$1,095
• After-tax cash flow: $5,351/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: Salamanca City School District
• NCES district ID: 3625440
• Math proficiency: 29% ▼ -12.00%
• Reading proficiency: 43% ▲ 5.00%
• Median HH income: $33,251
• Composite: 29.52/100
• National rank: #6500
• State rank: #560 of 590 in NY

Livability — Salamanca

• Score: 71/100
• State rank: #380
• US rank: #6521

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salamanca, NY
• Population (ZIP): 6,791

Population outlook (Cattaraugus County) Hauer SSP2

• Today (2025): 71,623 people
• By 2030: 67,751 · -5.4%
• By 2040: 59,488 · -16.9%
• By 2050: 51,601 · -28.0%
• By 2075: 35,025 · -51.1%
• By 2100: 21,243 · -70.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Native American 18% Two or more races 9% Hispanic / Latino 5% Black 2%
• Common ancestry: Romanian 9% Lithuanian 2% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 2%

Political lean MEDSL · Cattaraugus

• 2024 margin: Solid R (+32.8) · D 33.6% · R 66.4%
• 2008→2024 swing: -22.2pp toward R · 2008: -10.6pp · 2024: -32.8pp
• All cycles: 2024: R+32.8 2020: R+29.5 2016: R+34.4 2012: R+13.4 2008: R+10.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.52%
• Current HPI: 320.5286
• 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

+116.5% since first listed

2 events — show timeline

• 2026-05-31 Listed $129,900 WNYREIS
• 2019-10-02 Sold (Public Records) $60,000 Public Records

Property tax history

+0.6%/yr

Latest (2025): $474 · +15.1% YoY. Source: county tax records.