54 Lexington Ave · Salamanca, NY 14779

$129,900

4 bd · 1.0 ba · 1,677 sqft · SingleFamily public records · 48 Days on market

Built 1925 6,425 sqft lot $77/sqft · 14% above area Est $114k · 14% 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 +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 +1.3/15.0

Listing remarks MLS

Welcome to this well-maintained 3 bedroom, 1 bath home offering comfort, updates, and beautiful direct views of the Allegany Mountains. Set in a well-kept neighborhood, this property delivers both convenience and charm with easy access to Routes 86 and 219. Inside, you’ll find hardwood floors throughout most of the home. This property showcases an abundance of bright, natural light. The living area feels warm and inviting with forced-air heat and a new wood pot-belly stove, perfect for cozy evenings. The kitchen has been refreshed with brand-new appliances still under warranty, making meal prep effortless. Step outside to enjoy a fully fenced backyard featuring a new vinyl fence, ideal for pets, play, or privacy. A covered front porch and back deck offer multiple outdoor spaces to relax and take in the scenery. Recent exterior improvements include a new metal roof and new stairs, giving buyers peace of mind for years to come. Additional highlights include some newer windows, Light Fixtures and thoughtful updates throughout, making this home truly move-in ready. A move in ready home with stunning mountain views this one may check all the boxes.

Key facts

• Covered front porch
• Brand-new appliances
• Hardwood floors

Tags

• HARDWOOD FLOORS
• NEW WOOD POT-BELLY STOVE
• BRAND-NEW APPLIANCES
• FULLY FENCED BACKYARD
• NEW VINYL FENCE
• COVERED FRONT PORCH

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $736 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% 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 ($898 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 $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y ago 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 $81k; list at $130k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.52% ✓
• Cap rate: 13.09%
• Cash-on-cash: 24.28%
• DSCR: 2.08
• GRM: 5.5

CMA / ARV

• ARV (median comp): $114,140
• List price: $129,900
• Delta: 13.81%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
157 Clinton St	0.16mi	3/1.5 (-1)	1,568 (-6%)	7mo	$121,300	$77	69
66 Waite Ave	0.48mi	3/1.5 (-1)	1,647 (-2%)	4mo	$179,900	$109	64
335 Wildwood Ave	0.47mi	3/2.0 (-1)	1,740 (+4%)	3mo	$166,000	$95	61
153 Wildwood Ave	0.35mi	3/2.0 (-1)	1,720 (+3%)	12mo	$125,000	$73	60
159 S Main St	0.35mi	3/1.0 (-1)	1,703 (+2%)	20mo	$90,000	$53	59
17 Waite Ave	0.45mi	4/1.0	1,747 (+4%)	22mo	$58,000	$33	53
20 Fawn Ave	0.53mi	4/2.0	1,523 (-9%)	15mo	$130,000	$85	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: 33.2%
• Equity multiple: 3.01×
• Total profit: $73,289
• Equity at exit: $69,888

10-year hold

• IRR: 32.0%
• Equity multiple: 6.03×
• Total profit: $182,770
• Equity at exit: $117,644

Cash invested: $36,372 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,969 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$84 /mo · $1,008/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $736

Break-even live

Break-even rent $1,037

Max offer price $129,900

Occupancy floor 58%

Sensitivity live

Price	-10% $809	-5% $773	+0% $736	+5% $699	+10% $662
Rent	-10% $580	-5% $658	+0% $736	+5% $814	+10% $891
Rate	-1.0pp $801	-0.5pp $769	base $736	+0.5pp $702	+1.0pp $668

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-05-13
   status Pending 1167-char remark

   Show marketing remark (1167 chars)

   Welcome to this well-maintained 3 bedroom, 1 bath home offering comfort, updates, and beautiful direct views of the Allegany Mountains. Set in a well-kept neighborhood, this property delivers both convenience and charm with easy access to Routes 86 and 219. Inside, you’ll find hardwood floors throughout most of the home. This property showcases an abundance of bright, natural light. The living area feels warm and inviting with forced-air heat and a new wood pot-belly stove, perfect for cozy evenings. The kitchen has been refreshed with brand-new appliances still under warranty, making meal prep effortless. Step outside to enjoy a fully fenced backyard featuring a new vinyl fence, ideal for pets, play, or privacy. A covered front porch and back deck offer multiple outdoor spaces to relax and take in the scenery. Recent exterior improvements include a new metal roof and new stairs, giving buyers peace of mind for years to come. Additional highlights include some newer windows, Light Fixtures and thoughtful updates throughout, making this home truly move-in ready. A move in ready home with stunning mountain views this one may check all the boxes.

2. 2026-04-29
   price $129,900 1167-char remark

   Show marketing remark (1167 chars)

   Welcome to this well-maintained 3 bedroom, 1 bath home offering comfort, updates, and beautiful direct views of the Allegany Mountains. Set in a well-kept neighborhood, this property delivers both convenience and charm with easy access to Routes 86 and 219. Inside, you’ll find hardwood floors throughout most of the home. This property showcases an abundance of bright, natural light. The living area feels warm and inviting with forced-air heat and a new wood pot-belly stove, perfect for cozy evenings. The kitchen has been refreshed with brand-new appliances still under warranty, making meal prep effortless. Step outside to enjoy a fully fenced backyard featuring a new vinyl fence, ideal for pets, play, or privacy. A covered front porch and back deck offer multiple outdoor spaces to relax and take in the scenery. Recent exterior improvements include a new metal roof and new stairs, giving buyers peace of mind for years to come. Additional highlights include some newer windows, Light Fixtures and thoughtful updates throughout, making this home truly move-in ready. A move in ready home with stunning mountain views this one may check all the boxes.

3. 2026-03-26
   listed $135,000 Active 1167-char remark

   Show marketing remark (1167 chars)

   Welcome to this well-maintained 3 bedroom, 1 bath home offering comfort, updates, and beautiful direct views of the Allegany Mountains. Set in a well-kept neighborhood, this property delivers both convenience and charm with easy access to Routes 86 and 219. Inside, you’ll find hardwood floors throughout most of the home. This property showcases an abundance of bright, natural light. The living area feels warm and inviting with forced-air heat and a new wood pot-belly stove, perfect for cozy evenings. The kitchen has been refreshed with brand-new appliances still under warranty, making meal prep effortless. Step outside to enjoy a fully fenced backyard featuring a new vinyl fence, ideal for pets, play, or privacy. A covered front porch and back deck offer multiple outdoor spaces to relax and take in the scenery. Recent exterior improvements include a new metal roof and new stairs, giving buyers peace of mind for years to come. Additional highlights include some newer windows, Light Fixtures and thoughtful updates throughout, making this home truly move-in ready. A move in ready home with stunning mountain views this one may check all the boxes.

4. 2022-06-03
   soldstatus $81,000 Closed Sale or Rented 317-char remark

   Show marketing remark (317 chars)

   Spacious 3 bedroom home with a large family room that opens to covered porch and deck. Updates through-out. Large kitchen with plenty of storage. High-efficiency furnace. Detached garage with workshop. Fenced in back yard. Enjoy the space and convenience of this centrally located home and everything it has to offer.

5. 2022-05-20
   soldstatus $81,000
6. 2022-05-19
   status Pending Sale 317-char remark

   Show marketing remark (317 chars)

   Spacious 3 bedroom home with a large family room that opens to covered porch and deck. Updates through-out. Large kitchen with plenty of storage. High-efficiency furnace. Detached garage with workshop. Fenced in back yard. Enjoy the space and convenience of this centrally located home and everything it has to offer.

7. 2022-04-27
   status Under Contract- Do Not Show 317-char remark

   Show marketing remark (317 chars)

   Spacious 3 bedroom home with a large family room that opens to covered porch and deck. Updates through-out. Large kitchen with plenty of storage. High-efficiency furnace. Detached garage with workshop. Fenced in back yard. Enjoy the space and convenience of this centrally located home and everything it has to offer.

8. 2022-03-11
   price $79,000 317-char remark

   Show marketing remark (317 chars)

   Spacious 3 bedroom home with a large family room that opens to covered porch and deck. Updates through-out. Large kitchen with plenty of storage. High-efficiency furnace. Detached garage with workshop. Fenced in back yard. Enjoy the space and convenience of this centrally located home and everything it has to offer.

9. 2022-03-05
   status Active 317-char remark

   Show marketing remark (317 chars)

   Spacious 3 bedroom home with a large family room that opens to covered porch and deck. Updates through-out. Large kitchen with plenty of storage. High-efficiency furnace. Detached garage with workshop. Fenced in back yard. Enjoy the space and convenience of this centrally located home and everything it has to offer.

10. 2022-03-04
    historical Continue to Show- Under Contract 317-char remark

    Show marketing remark (317 chars)

    Spacious 3 bedroom home with a large family room that opens to covered porch and deck. Updates through-out. Large kitchen with plenty of storage. High-efficiency furnace. Detached garage with workshop. Fenced in back yard. Enjoy the space and convenience of this centrally located home and everything it has to offer.

11. 2022-03-02
    status Active 317-char remark

    Show marketing remark (317 chars)

    Spacious 3 bedroom home with a large family room that opens to covered porch and deck. Updates through-out. Large kitchen with plenty of storage. High-efficiency furnace. Detached garage with workshop. Fenced in back yard. Enjoy the space and convenience of this centrally located home and everything it has to offer.

12. 2022-02-07
    historical Continue to Show- Under Contract 317-char remark

    Show marketing remark (317 chars)

    Spacious 3 bedroom home with a large family room that opens to covered porch and deck. Updates through-out. Large kitchen with plenty of storage. High-efficiency furnace. Detached garage with workshop. Fenced in back yard. Enjoy the space and convenience of this centrally located home and everything it has to offer.

13. 2022-01-28
    listed $82,500 Active 317-char remark

    Show marketing remark (317 chars)

    Spacious 3 bedroom home with a large family room that opens to covered porch and deck. Updates through-out. Large kitchen with plenty of storage. High-efficiency furnace. Detached garage with workshop. Fenced in back yard. Enjoy the space and convenience of this centrally located home and everything it has to offer.

14. 2014-03-01
    listed $74,900
15. 2010-06-30
    soldstatus $70,000
16. 2010-06-30
    soldstatus $70,000
17. 2010-04-12
    listed $82,500
18. 2002-03-05
    soldstatus $50,000

ⓘ 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: $1,008 · $84/mo
• Projected year-2 tax: $1,602 · $133/mo
• Expected delta: +$594/yr (+$49/mo · 58.9%)

ⓘ 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 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: $23,624
• − Mortgage interest: −$7,276
• − Property taxes: −$1,008
• − Insurance: −$650
• − Repairs & maintenance: −$1,890
• − Management: −$1,890
• − Depreciation: −$3,779
• Taxable income: $7,131
• Est. tax owed @ 24.0%: −$1,711
• After-tax cash flow: $7,119/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

+159.8% since first listed

18 events — show timeline

• 2026-05-13 Pending — UNYREIS
• 2026-04-29 Price Changed $129,900 UNYREIS
• 2026-03-26 Listed $135,000 UNYREIS
• 2022-06-03 Sold (MLS) $81,000 WNYREIS
• 2022-05-20 Sold (Public Records) $81,000 Public Records
• 2022-05-19 Pending — WNYREIS
• 2022-04-27 Pending — WNYREIS
• 2022-03-11 Price Changed $79,000 WNYREIS
• 2022-03-05 Relisted — WNYREIS
• 2022-03-04 Contingent — WNYREIS
• 2022-03-02 Relisted — WNYREIS
• 2022-02-07 Contingent — WNYREIS
• 2022-01-28 Listed $82,500 WNYREIS
• 2014-03-01 Listed $74,900 WNYREIS
• 2010-06-30 Sold (Public Records) $70,000 Public Records
• 2010-06-30 Sold (MLS) $70,000 WNYREIS
• 2010-04-12 Listed $82,500 WNYREIS
• 2002-03-05 Sold (Public Records) $50,000 Public Records

Property tax history

-4.9%/yr

Latest (2025): $1,008 · +15.1% YoY. Source: county tax records.