10353 Route 62 · Gowanda, NY 14070

$64,900

2 bd · 1.0 ba · 1,170 sqft · SingleFamily public records · 99 Days on market

Built 1920 0.90 ac lot $55/sqft · 63% below area ↓ 19% since listing

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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 +29.8/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

A charming opportunity wrapped in nearly an acre of land, this 2-bedroom, 1-bath home is full of character, space, and potential. The main level offers a generous living room that flows into a formal dining room—perfect for gatherings, or could be opened up to create a larger, more efficient kitchen if that suits your vision. One bedroom sits conveniently on the first floor, while the second, larger bedroom occupies the upper level. At the top of the stairs, a cozy landing area invites possibilities: expand the primary bedroom, create a reading nook, or set up a movie-night hideaway. The main floor bathroom has been fully gutted and is ready for your design ideas, and you’ll also find a toilet upstairs plus a toilet, shower, and sink in the basement. Newer double-paned windows bring in great natural light, and the enclosed porch is an ideal spot to enjoy morning coffee. The home does need some TLC—including a basement wall repair where a cinder-block-sized hole awaits attention—but at this price, it’s a promising canvas for investors, DIY enthusiasts, or anyone excited to bring new life to a solid home with great bones and room to grow.

Key facts

• Cozy landing area
• Formal dining room
• Generous living room

Tags

• NEARLY AN ACRE OF LAND
• GENEROUS LIVING ROOM
• FORMAL DINING ROOM
• COZY LANDING AREA
• FULLY GUTTED BATHROOM
• NEWER DOUBLE-PANED WINDOWS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#457 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities F, commute F.
• Gowanda Central School District (rural): math 38% / reading 44% proficiency, ranked #513 of 590 in NY (top 87%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 24 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 ($449 loan paydown + $6k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,059 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.56% ✓
• Cap rate: 10.69%
• Cash-on-cash: 15.69%
• DSCR: 1.70
• GRM: 5.3

CMA / ARV

• ARV (median comp): $175,087
• List price: $64,900
• Delta: -62.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
57 E Hill St	0.41mi	2/1.5	1,248 (+7%)	8mo	$200,000	$160	61
50 Maple Ave	0.55mi	2/2.0	1,120 (-4%)	11mo	$40,000	$36	54
29 Miller St	0.70mi	3/2.0 (+1)	1,188 (+2%)	9mo	$177,000	$149	48
5 Crestwood Dr	0.50mi	3/1.0 (+1)	1,248 (+7%)	24mo	$165,000	$132	41

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

Projected returns pro-forma

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

5-year hold

• IRR: 35.9%
• Equity multiple: 3.78×
• Total profit: $50,565
• Equity at exit: $58,467

10-year hold

• IRR: 31.0%
• Equity multiple: 8.55×
• Total profit: $137,171
• Equity at exit: $126,086

Cash invested: $18,172 (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 14070

• Home prices YoY: 8.8%
• Active inventory: 24
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,011 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$194 /mo · $2,324/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $238

Break-even live

Break-even rent $710

Max offer price $64,900

Occupancy floor 72%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-12
   statusdays on market $64,900 Pending 99 DOM
2. 2026-06-09
   days on market $64,900 Active 97 DOM
3. 2026-06-08
   days on market $64,900 Active 96 DOM
4. 2026-06-07
   days on market $64,900 Active 95 DOM
5. 2026-06-07
   days on market $64,900 Active 94 DOM
6. 2026-06-04
   days on market $64,900 Active 91 DOM
7. 2026-06-02
   days on market $64,900 Active 90 DOM
8. 2026-06-01
   days on market $64,900 Active 89 DOM
9. 2026-05-31
   days on market $64,900 Active 88 DOM
10. 2026-05-15
    price $64,900 1184-char remark

    Show marketing remark (1184 chars)

    A charming opportunity wrapped in nearly an acre of land, this 2-bedroom, 1-bath home is full of character, space, and potential. The main level offers a generous living room that flows into a formal dining room—perfect for gatherings, or could be opened up to create a larger, more efficient kitchen if that suits your vision. One bedroom sits conveniently on the first floor, while the second, larger bedroom occupies the upper level. At the top of the stairs, a cozy landing area invites possibilities: expand the primary bedroom, create a reading nook, or set up a movie-night hideaway. The main floor bathroom has been fully gutted and is ready for your design ideas, and you’ll also find a toilet upstairs plus a toilet, shower, and sink in the basement. Newer double-paned windows bring in great natural light, and the enclosed porch is an ideal spot to enjoy morning coffee. The home does need some TLC—including a basement wall repair where a cinder-block-sized hole awaits attention—but at this price, it’s a promising canvas for investors, DIY enthusiasts, or anyone excited to bring new life to a solid home with great bones and room to grow.

11. 2026-03-04
    listed $79,900 Active 1184-char remark

    Show marketing remark (1184 chars)

    A charming opportunity wrapped in nearly an acre of land, this 2-bedroom, 1-bath home is full of character, space, and potential. The main level offers a generous living room that flows into a formal dining room—perfect for gatherings, or could be opened up to create a larger, more efficient kitchen if that suits your vision. One bedroom sits conveniently on the first floor, while the second, larger bedroom occupies the upper level. At the top of the stairs, a cozy landing area invites possibilities: expand the primary bedroom, create a reading nook, or set up a movie-night hideaway. The main floor bathroom has been fully gutted and is ready for your design ideas, and you’ll also find a toilet upstairs plus a toilet, shower, and sink in the basement. Newer double-paned windows bring in great natural light, and the enclosed porch is an ideal spot to enjoy morning coffee. The home does need some TLC—including a basement wall repair where a cinder-block-sized hole awaits attention—but at this price, it’s a promising canvas for investors, DIY enthusiasts, or anyone excited to bring new life to a solid home with great bones and room to grow.

ⓘ 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: $2,324 · $194/mo
• Projected year-2 tax: $2,324 · $194/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,131
• − Mortgage interest: −$3,635
• − Property taxes: −$2,324
• − Insurance: −$324
• − Repairs & maintenance: −$971
• − Management: −$971
• − Depreciation: −$1,888
• Taxable income: $2,019
• Est. tax owed @ 24.0%: −$484
• After-tax cash flow: $2,367/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: Gowanda Central School District
• NCES district ID: 3612390
• Math proficiency: 38% ▼ -13.00%
• Reading proficiency: 44% ▲ 3.00%
• Median HH income: $43,777
• Composite: 34.71/100
• National rank: #5138
• State rank: #513 of 590 in NY

Livability — Gowanda

• Score: 70/100
• State rank: #457
• US rank: #7988

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,437

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 (81%)
• Race & ethnicity: White 81% Native American 10% Hispanic / Latino 5% Two or more races 3% Black 1%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 9% Italian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% German/W. Germanic 1%

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: ▲ 21.64%
• Current HPI: 269.1092
• 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

-18.8% since first listed

2 events — show timeline

• 2026-05-15 Price Changed $64,900 UNYREIS
• 2026-03-04 Listed $79,900 UNYREIS

Property tax history

+9.2%/yr

Latest (2025): $2,324 · -0.7% YoY. Source: county tax records.