193 Elm St · Salamanca, NY 14779

$134,900

3 bd · 1.0 ba · 1,870 sqft · SingleFamily public records · 148 Days on market

Built 1900 5,742 sqft lot $72/sqft · 17% above area Est $115k · 17% over ↓ 7% 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• 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
• ARV discount +0.0/15.0

Listing remarks MLS

Here's a great opportunity to own a spacious four-bedroom, two bath home. Many updates have recently been made including a bathroom cabinets, fresh paint, a new hot water tank and a new roof. Each floor has a full bath. The living room has lots of room for entertaining or enjoying time together with family and friends. There are several windows letting in lots of light. The dining room has space to comfortably seat several people. The laundry room is conveniently located on the first floor. The upstairs offers three bedrooms, one that has a unique trio of windows giving it character. The enclosed front porch would provide a great space to relax. The two-car garage does need a new door but has plenty of space. Don't miss out on this home that has lots to offer! Property subject to Seneca Nation of Indians lease.

Key facts

• New hot water tank
• Full bath
• Two car garage

Tags

• NEW HOT WATER TANK
• NEW ROOF
• FULL BATH
• ENCLOSED FRONT PORCH
• TWO CAR GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $504 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.

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 ($933 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 $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 148 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.31% ✓
• Cap rate: 11.27%
• Cash-on-cash: 17.77%
• DSCR: 1.79
• GRM: 6.4

CMA / ARV

• ARV (median comp): $115,118
• List price: $134,900
• Delta: 17.18%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
370 E State St	0.33mi	3/1.0	1,997 (+7%)	6mo	$84,900	$43	68
335 Wildwood Ave	0.33mi	3/2.0	1,740 (-7%)	3mo	$166,000	$95	67
338 E State St	0.28mi	4/2.0 (+1)	1,850 (-1%)	18mo	$115,000	$62	62
89 Lincoln Ave	0.45mi	3/1.0	1,694 (-9%)	3mo	$74,000	$44	61
153 Wildwood Ave	0.29mi	3/2.0	1,720 (-8%)	12mo	$125,000	$73	59
27 Central Ave	0.60mi	3/1.0	1,652 (-12%)	6mo	$149,900	$91	48
417 E State St	0.43mi	4/1.5 (+1)	2,117 (+13%)	6mo	$159,900	$76	46
106 Merden St	0.40mi	3/1.0	1,599 (-14%)	16mo	$111,700	$70	44

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

Projected returns pro-forma

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

5-year hold

• IRR: 25.7%
• Equity multiple: 2.58×
• Total profit: $59,540
• Equity at exit: $72,578

10-year hold

• IRR: 25.2%
• Equity multiple: 5.08×
• Total profit: $154,091
• Equity at exit: $122,172

Cash invested: $37,772 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,760 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$68 /mo · $814/yr
• Insurance: −$56
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $504

Break-even live

Break-even rent $1,123

Max offer price $134,900

Occupancy floor 66%

Sensitivity live

Price	-10% $580	-5% $542	+0% $504	+5% $466	+10% $427
Rent	-10% $365	-5% $434	+0% $504	+5% $573	+10% $643
Rate	-1.0pp $572	-0.5pp $538	base $504	+0.5pp $469	+1.0pp $433

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $134,900 Active 148 DOM
2. 2026-06-18
   days on market $134,900 Active 146 DOM
3. 2026-06-17
   days on market $134,900 Active 145 DOM
4. 2026-06-16
   days on market $134,900 Active 144 DOM
5. 2026-06-15
   days on market $134,900 Active 143 DOM
6. 2026-06-13
   days on market $134,900 Active 141 DOM
7. 2026-06-12
   days on market $134,900 Active 140 DOM
8. 2026-06-09
   days on market $134,900 Active 137 DOM
9. 2026-06-08
   days on market $134,900 Active 136 DOM
10. 2026-06-07
    days on market $134,900 Active 135 DOM
11. 2026-06-05
    days on market $134,900 Active 133 DOM
12. 2026-06-04
    days on market $134,900 Active 131 DOM
13. 2026-06-02
    days on market $134,900 Active 130 DOM
14. 2026-06-01
    days on market $134,900 Active 129 DOM
15. 2026-05-31
    days on market $134,900 Active 128 DOM
16. 2026-05-01
    price $134,900 825-char remark

    Show marketing remark (825 chars)

    Here's a great opportunity to own a spacious four-bedroom, two bath home. Many updates have recently been made including a bathroom cabinets, fresh paint, a new hot water tank and a new roof. Each floor has a full bath. The living room has lots of room for entertaining or enjoying time together with family and friends. There are several windows letting in lots of light. The dining room has space to comfortably seat several people. The laundry room is conveniently located on the first floor. The upstairs offers three bedrooms, one that has a unique trio of windows giving it character. The enclosed front porch would provide a great space to relax. The two-car garage does need a new door but has plenty of space. Don't miss out on this home that has lots to offer! Property subject to Seneca Nation of Indians lease.

17. 2026-01-23
    listed $144,900 Active 825-char remark

    Show marketing remark (825 chars)

    Here's a great opportunity to own a spacious four-bedroom, two bath home. Many updates have recently been made including a bathroom cabinets, fresh paint, a new hot water tank and a new roof. Each floor has a full bath. The living room has lots of room for entertaining or enjoying time together with family and friends. There are several windows letting in lots of light. The dining room has space to comfortably seat several people. The laundry room is conveniently located on the first floor. The upstairs offers three bedrooms, one that has a unique trio of windows giving it character. The enclosed front porch would provide a great space to relax. The two-car garage does need a new door but has plenty of space. Don't miss out on this home that has lots to offer! Property subject to Seneca Nation of Indians lease.

ⓘ 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: $814 · $68/mo
• Projected year-2 tax: $1,547 · $129/mo
• Expected delta: +$733/yr (+$61/mo · 90.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥90°F today · 20 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: $21,126
• − Mortgage interest: −$7,556
• − Property taxes: −$814
• − Insurance: −$1,341
• − Repairs & maintenance: −$1,690
• − Management: −$1,690
• − Depreciation: −$3,924
• Taxable income: $4,110
• Est. tax owed @ 24.0%: −$986
• After-tax cash flow: $5,059/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

-6.9% since first listed

2 events — show timeline

• 2026-05-01 Price Changed $134,900 UNYREIS
• 2026-01-23 Listed $144,900 UNYREIS

Property tax history

+4.4%/yr

Latest (2025): $814 · +68.4% YoY. Source: county tax records.