9838-9848 Route 474 · Corry, PA 14724

$139,900

2 bd · 1.0 ba · 1,790 sqft · Other public records · 44 Days on market

Built 1930 1.41 ac lot

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Why this score? — see what drove the D- 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).

• ARV discount +7.5/15.0
• Appreciation +7.3/10.0
• Cash flow +6.3/30.0
• Schools +5.2/10.0
• Livability +3.7/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.6/10.0

Listing remarks

Discover a unique opportunity with this versatile 1.41 acre property featuring three distinct structures, each offering incredible potential. The main house, in need of some TLC, roof is approximately 2 years old features 3 bedrooms and 1 full bath, provides a solid foundation for your vision and could become a charming country retreat. A mobile home on the property is currently occupied has 3 bedrooms and 2 full baths, providing added financial flexibility. Additionally, the commercial building offers endless possibilities for a business venture, studio, or creative space, perfectly suited for the entrepreneurial spirit. The commercial space also includes a super cozy living space with 1 b

Key facts

• Spacious barn
• Commercial building
• 1.41 acre property

Tags

• 1.41 ACRE PROPERTY
• THREE DISTINCT STRUCTURES
• COMMERCIAL BUILDING
• COZY LIVING SPACE
• PROXIMITY TO SNOWMOBILE TRAILS
• SPACIOUS BARN

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $140k.

Deal economics

• At list price, monthly cash flow is $-250 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $96k (31.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (24.3% below list).
• Recommended offer: $96k (31.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 73/100 on livability (#573 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, health & safety A; Watch: amenities D+, commute F, employment F.
• Clymer Central School District (rural): math 62% / reading 57% proficiency, ranked #291 of 755 in NY (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 127 units permitted in Chautauqua County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($967 loan paydown + $7k appreciation (4.7% local appreciation)).
• Chautauqua County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 5, 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 44 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,763 (31.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.76% ✗
• Cap rate: 4.15%
• Cash-on-cash: -7.65%
• DSCR: 0.66
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.68% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.6%
• Equity multiple: 1.35×
• Total profit: $13,860
• Equity at exit: $76,554

10-year hold

• IRR: 8.1%
• Equity multiple: 2.46×
• Total profit: $57,110
• Equity at exit: $129,922

Cash invested: $39,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Pennsylvania: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

10-day notice; Philadelphia has eviction-court diversion + some protections; otherwise moderate.

Methodology + full state rankings →

ZIP-level market 14724

• Home prices YoY: 1.4%
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,059 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$294 /mo · $3,534/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $-250

Break-even live

Break-even rent $1,375

Max offer price $95,763

Occupancy floor —

Sensitivity live

Price	-10% $-171	-5% $-210	+0% $-250	+5% $-289	+10% $-329
Rent	-10% $-334	-5% $-292	+0% $-250	+5% $-208	+10% $-166
Rate	-1.0pp $-179	-0.5pp $-214	base $-250	+0.5pp $-286	+1.0pp $-323

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-16
   status Pending
2. 2026-03-02
   listed $139,900 Active

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

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $3,534 · $294/mo
• Projected year-2 tax: $3,534 · $294/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 7 d/yr ≥90°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,708
• − Mortgage interest: −$7,837
• − Property taxes: −$3,534
• − Insurance: −$700
• − Repairs & maintenance: −$1,017
• − Management: −$1,017
• − Depreciation: −$4,070
• Taxable loss: −$5,465
• Est. tax savings @ 24.0%: +$1,312
• After-tax cash flow: $-1,686/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: Clymer Central School District
• NCES district ID: 3607890
• Math proficiency: 62% ▲ 6.00%
• Reading proficiency: 57% ▲ 5.00%
• Median HH income: $46,360
• Composite: 51.95/100
• National rank: #3542
• State rank: #291 of 755 in NY

Livability — Corry

• Score: 73/100
• State rank: #573
• US rank: #5430

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,099

Population outlook (Chautauqua County) Hauer SSP2

• Today (2025): 123,454 people
• By 2030: 118,509 · -4.0%
• By 2040: 107,311 · -13.1%
• By 2050: 96,703 · -21.7%
• By 2075: 76,757 · -37.8%
• By 2100: 60,984 · -50.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3%
• Common ancestry: Polish 10% Iranian 9% Romanian 5%
• Foreign-born: 1%
• Languages at home: 64% English-only · German/W. Germanic 34% Spanish 1%

Political lean MEDSL · Chautauqua

• 2024 margin: Strong R (+22.0) · D 39.0% · R 61.0%
• 2008→2024 swing: -22.9pp toward R · 2008: 0.9pp · 2024: -22.0pp
• All cycles: 2024: R+22.0 2020: R+19.8 2016: R+24.6 2012: R+8.2 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.68%
• Current HPI: 328.2574
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.68%
• F500 in state: 34

Industry mix (Fortune 500 HQ in PA)

Industry	F500 HQs	Revenue
▸Healthcare	2	$309B
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

Price history

2 events — show timeline

• 2026-04-16 Pending — UNYREIS
• 2026-03-02 Listed $139,900 UNYREIS

Property tax history

-3.1%/yr

Latest (2025): $3,534 · +0.6% YoY. Source: county tax records.