964 Portville Olean Rd · Weston Mills, NY 14770

$159,000

4 bd · 3.0 ba · 3,232 sqft · MultiFamily public records · 43 Days on market

Built 1871 1.15 ac lot $49/sqft · 13% above area Est $141k · 13% over

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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 +8.8/10.0
• Schools +5.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.7/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Triplex conveniently located on 417 in Portville. Two downstairs apartments have been updated and remodeled 3 bedroom one bath with laundry, pantry spacious eat in kitchen and access to wrap around porch. 2 additional units, one upper and one lower, lower unit has private rear covered porch. This three family home sits on over an acre parcel with ample parking for all units. Newer roof, updated heating, detached two car garage could be used as storage for maintenance or could add additional rental income.

Key facts

• Wrap around porch
• Ample parking
• Newer roof

Tags

• PRIVATE REAR COVERED PORCH
• WRAP AROUND PORCH
• AMPLE PARKING
• NEWER ROOF
• DETACHED TWO CAR GARAGE

Property features AI

Finance

• Financial info: Owner pays all utilities for rental units; Operating expenses include utilities; Unit rents (actual): Unit 1 $725, Unit 2 $900, Unit 3 $1,250

Exterior

• Parking: Detached or attached garage with 2 spaces; Additional parking: two or more spaces
• Utilities: Public water connected; Sewer connected
• Home design: Multi-family property with 3 units; 2-story building; Existing resale property
• Construction: Frame construction; Blown-in insulation
• Exterior features: Rectangular lot with main thoroughfare frontage; Lot dimensions approximately 175 x 247; Lot size about 1.15 acres

Interior

• Kitchen: Oven/Range in each unit; Refrigerator in each unit; Eat-in kitchen or dining area depending on unit
• Bedrooms: Unit 1: 1 bedroom; Unit 2: 1 bedroom; Unit 3: 3 bedrooms
• Flooring: Carpet; Hardwood; Luxury vinyl; Vinyl; Flooring varies by unit
• Bathrooms: Three full bathrooms (one per unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Varied flooring including carpet, hardwood, luxury vinyl and vinyl; Full dirt-floor basement
• Laundry & utility: Washer and dryer in Unit 3; Laundry in unit for Unit 3; Gas water heater

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $159k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $453/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $159k).
• Recommended offer: $154k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.6% vs local median 5.3% in Weston Mills — 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 65/100 on livability (#667 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, schools F, amenities F.
• Portville Central School District (rural): math 63% / reading 65% proficiency, ranked #190 of 590 in NY (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 25 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 $13k of equity ($1k loan paydown + $12k appreciation (7.7% 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 (7.7% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, 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 43 days — a 3% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $55k; list at $159k implies a 189% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1871 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,230 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1871 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.08% ✓
• Cap rate: 16.56%
• Cash-on-cash: 36.67%
• DSCR: 2.63
• GRM: 4.0

CMA / ARV

• ARV (median comp): $140,872
• List price: $159,000
• Delta: 12.87%
• Verdict: OVERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

7.68% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 49.2%
• Equity multiple: 4.35×
• Total profit: $149,071
• Equity at exit: $117,380

10-year hold

• IRR: 44.7%
• Equity multiple: 9.27×
• Total profit: $368,381
• Equity at exit: $229,813

Cash invested: $44,520 (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 14770

• Home prices YoY: 2.9%
• Active inventory: 25
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $3,306 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$351 /mo · $4,216/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$694
• Net cashflow: $1,360

Break-even live

Break-even rent $1,584

Max offer price $159,000

Occupancy floor 54%

Sensitivity live

Price	-10% $1,450	-5% $1,405	+0% $1,360	+5% $1,315	+10% $1,270
Rent	-10% $1,099	-5% $1,230	+0% $1,360	+5% $1,491	+10% $1,621
Rate	-1.0pp $1,440	-0.5pp $1,401	base $1,360	+0.5pp $1,319	+1.0pp $1,277

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$3,306
Total (3 units)			$3,306

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $159,000 Active 43 DOM
2. 2026-06-18
   days on market $159,000 Active 41 DOM
3. 2026-06-17
   days on market $159,000 Active 40 DOM
4. 2026-06-16
   days on market $159,000 Active 39 DOM
5. 2026-06-15
   days on market $159,000 Active 38 DOM
6. 2026-06-13
   days on market $159,000 Active 36 DOM
7. 2026-06-12
   days on market $159,000 Active 35 DOM
8. 2026-06-09
   days on market $159,000 Active 32 DOM
9. 2026-06-08
   days on market $159,000 Active 31 DOM
10. 2026-06-07
    days on market $159,000 Active 30 DOM
11. 2026-06-07
    days on market $159,000 Active 29 DOM
12. 2026-06-04
    days on market $159,000 Active 26 DOM
13. 2026-06-02
    days on market $159,000 Active 25 DOM
14. 2026-06-01
    days on market $159,000 Active 24 DOM
15. 2026-05-31
    days on market $159,000 Active 23 DOM
16. 2026-05-05
    listed $159,000 Active 510-char remark
17. 2025-08-28
    historical
18. 2025-03-09
    listed $154,000 Active
19. 2009-09-30
    soldstatus $55,080
20. 2004-06-24
    soldstatus $75,000

ⓘ 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: $4,216 · $351/mo
• Projected year-2 tax: $4,216 · $351/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 5/10 Major FEMA zone X (shaded) · 27% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 8 d/yr ≥90°F today · 18 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: $39,672
• − Mortgage interest: −$8,906
• − Property taxes: −$4,216
• − Insurance: −$795
• − Repairs & maintenance: −$3,174
• − Management: −$3,174
• − Depreciation: −$4,625
• Taxable income: $14,781
• Est. tax owed @ 24.0%: −$3,548
• After-tax cash flow: $12,776/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: Portville Central School District
• NCES district ID: 3623640
• Math proficiency: 63% ▲ 1.00%
• Reading proficiency: 65% ▲ 5.00%
• Median HH income: $52,207
• Composite: 54.6/100
• National rank: #1337
• State rank: #190 of 590 in NY

Livability — Weston Mills

• Score: 65/100
• State rank: #667
• US rank: #12400

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Weston Mills, NY
• City population: 95
• Population (ZIP): 2,805

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 (93%)
• Race & ethnicity: White 93% Two or more races 4% Black 2%
• Common ancestry: Romanian 8% Slovak 4% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Spanish 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: ▲ 7.68%
• Current HPI: 276.8841
• 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

+112.0% since first listed

5 events — show timeline

• 2026-05-05 Listed $159,000 WNYREIS
• 2025-08-28 Listing Removed — WNYREIS
• 2025-03-09 Listed $154,000 WNYREIS
• 2009-09-30 Sold (Public Records) $55,080 Public Records
• 2004-06-24 Sold (Public Records) $75,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $4,216 · +3.3% YoY. Source: county tax records.