9667 Route 60 · Fredonia, NY 14063

$124,900

5 bd · 2.0 ba · 3,356 sqft · SingleFamily public records · 87 Days on market

Built 1872 6.40 ac lot $37/sqft · 65% below area ↓ 50% since listing

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Why this score? — see what drove the C 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 +22.1/30.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits at 9667 Route 60, where character and possibility come together! This spacious 3,356 sq ft farmhouse has been a place for gathering, growing, and making memories - and now it’s ready for its next chapter. The over sized rooms invite you to imagine cozy evenings, lively holidays, and everyday moments that turn into lasting memories. This classic home features 5 bedrooms with the possibility to convert 2 additional rooms into a bedroom or office area. The first floor kitchen, complete with a walk-in pantry, is full of charm and ready to be the heart of the home. The second floor kitchen offers the opportunity to expand cooking space for Holidays, use existing plumbing to add an en suite, or create two separate living quarters. With a mix of mostly carpeted spaces, some vinyl flooring, and wallpaper, this home could benefit from updates but provides a solid foundation and classic character to build upon. Located just minutes from the desirable Fredonia School District and local shopping and parks, this property offers both convenience and community. A rare opportunity to restore and customize a true farmhouse gem!

Key facts

• Second floor kitchen
• Parks
• Farmhouse gem

Tags

• WALK-IN PANTRY
• SECOND FLOOR KITCHEN
• FREDONIA SCHOOL DISTRICT
• LOCAL SHOPPING
• PARKS
• FARMHOUSE GEM

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $202 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $117k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 3.3% in Fredonia — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#95 in NY, #1,446 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, commute A; Watch: amenities C-, employment C-, crime F.
• Fredonia Central School District (town): math 55% / reading 46% proficiency, ranked #376 of 590 in NY (top 64%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 92 active listings in the ZIP; 127 units permitted in Chautauqua County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Chautauqua County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $25k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.4% of price; built in 1872 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,406 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 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 1872 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.38% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.92%
• DSCR: 1.31
• GRM: 6.0

CMA / ARV

• ARV (median comp): $355,000
• List price: $124,900
• Delta: -64.82%
• Verdict: UNDERPRICED
• Comps: 11 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -5.5%
• Equity multiple: 0.79×
• Total profit: $-7,189
• Equity at exit: $18,623

10-year hold

• IRR: 4.3%
• Equity multiple: 1.32×
• Total profit: $11,132
• Equity at exit: $10,799

Cash invested: $34,972 (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 14063

• Home prices YoY: -23.6%
• Active inventory: 92
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,730 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$458 /mo · $5,494/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $202

Break-even live

Break-even rent $1,474

Max offer price $124,900

Occupancy floor 83%

Sensitivity live

Price	-10% $272	-5% $237	+0% $202	+5% $166	+10% $131
Rent	-10% $65	-5% $133	+0% $202	+5% $270	+10% $338
Rate	-1.0pp $264	-0.5pp $233	base $202	+0.5pp $169	+1.0pp $136

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $124,900 Active 87 DOM
2. 2026-06-18
   days on market $124,900 Active 85 DOM
3. 2026-06-17
   days on market $124,900 Active 84 DOM
4. 2026-06-16
   days on market $124,900 Active 83 DOM
5. 2026-06-15
   days on market $124,900 Active 82 DOM
6. 2026-06-13
   days on market $124,900 Active 80 DOM
7. 2026-06-12
   days on market $124,900 Active 79 DOM
8. 2026-06-09
   days on market $124,900 Active 76 DOM
9. 2026-06-08
   days on market $124,900 Active 75 DOM
10. 2026-06-07
    days on market $124,900 Active 74 DOM
11. 2026-06-07
    days on market $124,900 Active 73 DOM
12. 2026-06-04
    days on market $124,900 Active 70 DOM
13. 2026-06-02
    days on market $124,900 Active 69 DOM
14. 2026-06-01
    days on market $124,900 Active 68 DOM
15. 2026-05-31
    days on market $124,900 Active 67 DOM
16. 2026-04-14
    price $124,900 1153-char remark

    Show marketing remark (1153 chars)

    Opportunity awaits at 9667 Route 60, where character and possibility come together! This spacious 3,356 sq ft farmhouse has been a place for gathering, growing, and making memories - and now it’s ready for its next chapter. The over sized rooms invite you to imagine cozy evenings, lively holidays, and everyday moments that turn into lasting memories. This classic home features 5 bedrooms with the possibility to convert 2 additional rooms into a bedroom or office area. The first floor kitchen, complete with a walk-in pantry, is full of charm and ready to be the heart of the home. The second floor kitchen offers the opportunity to expand cooking space for Holidays, use existing plumbing to add an en suite, or create two separate living quarters. With a mix of mostly carpeted spaces, some vinyl flooring, and wallpaper, this home could benefit from updates but provides a solid foundation and classic character to build upon. Located just minutes from the desirable Fredonia School District and local shopping and parks, this property offers both convenience and community. A rare opportunity to restore and customize a true farmhouse gem!

17. 2026-03-25
    listed $149,900 Active 1153-char remark

    Show marketing remark (1153 chars)

    Opportunity awaits at 9667 Route 60, where character and possibility come together! This spacious 3,356 sq ft farmhouse has been a place for gathering, growing, and making memories - and now it’s ready for its next chapter. The over sized rooms invite you to imagine cozy evenings, lively holidays, and everyday moments that turn into lasting memories. This classic home features 5 bedrooms with the possibility to convert 2 additional rooms into a bedroom or office area. The first floor kitchen, complete with a walk-in pantry, is full of charm and ready to be the heart of the home. The second floor kitchen offers the opportunity to expand cooking space for Holidays, use existing plumbing to add an en suite, or create two separate living quarters. With a mix of mostly carpeted spaces, some vinyl flooring, and wallpaper, this home could benefit from updates but provides a solid foundation and classic character to build upon. Located just minutes from the desirable Fredonia School District and local shopping and parks, this property offers both convenience and community. A rare opportunity to restore and customize a true farmhouse gem!

18. 2023-04-06
    historical
19. 2022-10-26
    listed $249,900 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 NY · Partial reset (capped growth)

• Current annual tax: $5,494 · $458/mo
• Projected year-2 tax: $5,494 · $458/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 ≥91°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: $20,756
• − Mortgage interest: −$6,996
• − Property taxes: −$5,494
• − Insurance: −$624
• − Repairs & maintenance: −$1,660
• − Management: −$1,660
• − Depreciation: −$3,633
• Taxable income: $687
• Est. tax owed @ 24.0%: −$165
• After-tax cash flow: $2,254/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: Fredonia Central School District
• NCES district ID: 3611520
• Math proficiency: 55% ▼ -8.00%
• Reading proficiency: 46% ▼ -8.00%
• Median HH income: $48,491
• Composite: 43.1/100
• National rank: #3086
• State rank: #376 of 590 in NY

Livability — Fredonia

• Score: 81/100
• State rank: #95
• US rank: #1446

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 12,722

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 (83%)
• Race & ethnicity: White 83% Hispanic / Latino 8% Two or more races 5% Black 3% Asian 2%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 14% Italian 3% Iranian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Chinese 1% Other Indo-European 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: ▼ -78.55%
• Current HPI: 253.5334
• 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

-50.0% since first listed

4 events — show timeline

• 2026-04-14 Price Changed $124,900 UNYREIS
• 2026-03-25 Listed $149,900 UNYREIS
• 2023-04-06 Listing Removed — UNYREIS
• 2022-10-26 Listed $249,900 UNYREIS

Property tax history

-0.5%/yr

Latest (2025): $5,494 · +1.7% YoY. Source: county tax records.