4319 Steenrod Rd · Friendship, NY 14739

$55,900

4 bd · None ba · 1,296 sqft · SingleFamily public records · 65 Days on market

Built 1979 6.90 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.9/10.0
• ARV discount +7.5/15.0
• Schools +3.4/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This 3 bedroom hunting cabin with loft is situated on 6.9 acres of mostly wooded land on a dead end road in Friendship NY, Allegany County. The cabin features an open living and dining area with a wood stove for heat, kitchen space, and multiple sleeping areas including three bedrooms and a loft.   Electric service is already connected.   The property is being sold as-is and includes the furnishings currently in the cabin allowing it to be used immediately as a hunting camp or recreational getaway. The 6.9 acres consist of mature woods with a mix of hardwoods and evergreens and gently sloping terrain that provides good wildlife habitat and natural cover.   Three tree stands are already in place and will convey with the sale. There is currently no water or septic system on the property.   Total annual taxes are $1,667.11.  Surface rights only convey.   Property is being sold as-is, cash only. This property is located approximately 10 minutes from Friendship, about 20 minutes from Cuba, Cuba Lake and Seneca Allegany Resort and Casino, and approximately 90 minutes from Buffalo.

Key facts

• Wildlife habitat
• Wood stove
• Mature woods

Tags

• HUNTING CABIN
• WOOD STOVE
• MATURE WOODS
• HARDWOODS AND EVERGREENS
• GENTLY SLOPING TERRAIN
• WILDLIFE HABITAT

What this means for you Summary

Snapshot

• This is a 4-bed/?-bath single-family listed at $56k.

Deal economics

• At list price, monthly cash flow is $563 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $56k).
• Recommended offer: $53k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#992 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, health & safety D, schools D-.
• Friendship Central School District (rural): math 35% / reading 40% proficiency, ranked #684 of 755 in NY (top 91%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 26 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 $5k of equity ($386 loan paydown + $4k appreciation (7.9% 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 (7.9% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($53k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price.

Recommended offer $52,546 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 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 1979 — 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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.31% ✓
• Cap rate: 18.39%
• Cash-on-cash: 43.19%
• DSCR: 2.92
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.87% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 55.1%
• Equity multiple: 4.74×
• Total profit: $58,506
• Equity at exit: $41,979

10-year hold

• IRR: 50.4%
• Equity multiple: 10.15×
• Total profit: $143,206
• Equity at exit: $82,866

Cash invested: $15,652 (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 14739

• Home prices YoY: 2.7%
• Active inventory: 26
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,289 medium
• Mortgage (P&I): −$293
• Tax from tax record: −$139 /mo · $1,667/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $563

Break-even live

Break-even rent $576

Max offer price $55,900

Occupancy floor 51%

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: $13,975
• Closing costs: $1,677
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $55,900 Active 65 DOM
2. 2026-06-17
   days on market $55,900 Active 64 DOM
3. 2026-06-16
   days on market $55,900 Active 63 DOM
4. 2026-06-15
   days on market $55,900 Active 62 DOM
5. 2026-06-13
   days on market $55,900 Active 60 DOM
6. 2026-06-12
   days on market $55,900 Active 59 DOM
7. 2026-06-09
   days on market $55,900 Active 56 DOM
8. 2026-06-08
   days on market $55,900 Active 55 DOM
9. 2026-06-07
   days on market $55,900 Active 54 DOM
10. 2026-06-07
    days on market $55,900 Active 53 DOM
11. 2026-06-04
    days on market $55,900 Active 50 DOM
12. 2026-06-02
    days on market $55,900 Active 49 DOM
13. 2026-06-01
    price $55,900 Active 48 DOM
14. 2026-06-01
    days on market $58,900 Active 48 DOM
15. 2026-05-31
    days on market $58,900 Active 47 DOM
16. 2026-04-14
    listed $58,900 Active 1121-char remark

    Show marketing remark (1121 chars)

    This 3 bedroom hunting cabin with loft is situated on 6.9 acres of mostly wooded land on a dead end road in Friendship NY, Allegany County. The cabin features an open living and dining area with a wood stove for heat, kitchen space, and multiple sleeping areas including three bedrooms and a loft.   Electric service is already connected.   The property is being sold as-is and includes the furnishings currently in the cabin allowing it to be used immediately as a hunting camp or recreational getaway. The 6.9 acres consist of mature woods with a mix of hardwoods and evergreens and gently sloping terrain that provides good wildlife habitat and natural cover.   Three tree stands are already in place and will convey with the sale. There is currently no water or septic system on the property.   Total annual taxes are $1,667.11.  Surface rights only convey.   Property is being sold as-is, cash only. This property is located approximately 10 minutes from Friendship, about 20 minutes from Cuba, Cuba Lake and Seneca Allegany Resort and Casino, and approximately 90 minutes from Buffalo.

ⓘ 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: $1,667 · $139/mo
• Projected year-2 tax: $1,667 · $139/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 3/10 Moderate
• 🌡 Heat 1/10 Low 6 d/yr ≥89°F today · 13 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: $15,473
• − Mortgage interest: −$3,131
• − Property taxes: −$1,667
• − Insurance: −$280
• − Repairs & maintenance: −$1,238
• − Management: −$1,238
• − Depreciation: −$1,626
• Taxable income: $6,293
• Est. tax owed @ 24.0%: −$1,510
• After-tax cash flow: $5,249/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: Friendship Central School District
• NCES district ID: 3611640
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 40% ▼ -5.00%
• Median HH income: $36,835
• Composite: 33.68/100
• National rank: #10445
• State rank: #684 of 755 in NY

Livability — Friendship

• Score: 60/100
• State rank: #992
• US rank: #19386

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,494

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: Iranian 5% Polish 4% Romanian 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · German/W. Germanic 2%

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: ▲ 7.87%
• Current HPI: 301.9616
• 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

1 event — show timeline

• 2026-04-14 Listed $58,900 CNYIS

Property tax history

+1.6%/yr

Latest (2025): $1,667 · +1.6% YoY. Source: county tax records.