9557 Route 60 · Fredonia, NY 14063

$52,000

2 bd · 1.0 ba · 940 sqft · SingleFamily public records · 179 Days on market

Built 1912 Fair condition 0.29 ac lot $55/sqft · 65% below area ↓ 9% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.8/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Key facts

• 0.29 acre lot
• Garage
• Built 1912

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $52k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $585 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $52k).
• Recommended offer: $46k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.8% vs local median 3.6% 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.
• Zoned schools: Fredonia Elementary School (math 32% / reading 52%, grade F, #1,361 of 2,108 statewide, top 67%, 398 students, 49% FRL); Fredonia Middle School (math 48% / reading 41%, grade D, #348 of 729 statewide, top 50%, 426 students, 43% FRL); Fredonia High School (math 98% / reading 75%, grade A, #342 of 1,100 statewide, top 31%, 463 students, 38% FRL) — zoned schools average 43% FRL vs 28% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 146 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 $360 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 179 days — a 12% lower offer ($46k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $45,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 179 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1912 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 2.54% ✓
• Cap rate: 19.78%
• Cash-on-cash: 48.18%
• DSCR: 3.14
• GRM: 3.3

CMA / ARV

• ARV (median comp): $147,007
• List price: $52,000
• Delta: -64.63%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
52 Castile Dr	1.18mi	2/2.0	1,012 (+8%)	2mo	$184,000	$182	47
9897 Christy Rd	0.99mi	2/1.0	980 (+4%)	21mo	$95,000	$97	40
3564 Brainard Rd	0.87mi	3/2.0 (+1)	980 (+4%)	12mo	$79,900	$82	39
28 Susann Ct	1.14mi	2/1.0	896 (-5%)	24mo	$115,000	$128	38
16 Susann Ct	1.17mi	2/2.0	896 (-5%)	33mo	$153,500	$171	33
8 Susann Ct	1.20mi	2/2.0	896 (-5%)	34mo	$97,500	$109	33
63 Castile Dr	1.20mi	2/1.5	1,012 (+8%)	29mo	$80,000	$79	30
51 Castile Dr	1.21mi	2/2.0	1,012 (+8%)	26mo	$93,000	$92	28
166 Liberty St	1.41mi	3/2.0 (+1)	1,032 (+10%)	28mo	$155,000	$150	20
206 Seymour St	1.47mi	3/1.0 (+1)	1,080 (+15%)	24mo	$200,000	$185	15

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

Projected returns pro-forma

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

5-year hold

• IRR: 45.7%
• Equity multiple: 2.98×
• Total profit: $28,885
• Equity at exit: $7,753

10-year hold

• IRR: 51.6%
• Equity multiple: 6.04×
• Total profit: $73,419
• Equity at exit: $4,496

Cash invested: $14,560 (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: 146
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,319 medium
• Mortgage (P&I): −$273
• Tax from tax record: −$163 /mo · $1,955/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $585

Break-even live

Break-even rent $579

Max offer price $52,000

Occupancy floor 51%

Sensitivity live

Price	-10% $614	-5% $599	+0% $585	+5% $570	+10% $555
Rent	-10% $480	-5% $532	+0% $585	+5% $637	+10% $689
Rate	-1.0pp $611	-0.5pp $598	base $585	+0.5pp $571	+1.0pp $557

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: $13,000
• Closing costs: $1,560
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-09-24
   days on market $52,000 Active 179 DOM
2. 2026-09-23
   days on market $52,000 Active 178 DOM
3. 2026-09-21
   days on market $52,000 Active 176 DOM
4. 2026-09-20
   days on market $52,000 Active 175 DOM
5. 2026-09-19
   days on market $52,000 Active 173 DOM
6. 2026-09-17
   days on market $52,000 Active 172 DOM
7. 2026-09-17
   days on market $52,000 Active 171 DOM
8. 2026-09-16
   days on market $52,000 Active 170 DOM
9. 2026-09-14
   days on market $52,000 Active 169 DOM
10. 2026-09-13
    days on market $52,000 Active 168 DOM
11. 2026-09-12
    days on market $52,000 Active 167 DOM
12. 2026-09-11
    days on market $52,000 Active 166 DOM
13. 2026-09-05
    pricedays on market $52,000 Active 160 DOM
14. 2026-09-04
    days on market $67,900 Active 159 DOM
15. 2026-09-03
    days on market $67,900 Active 158 DOM
16. 2026-09-02
    days on market $67,900 Active 157 DOM
17. 2026-08-30
    days on market $67,900 Active 154 DOM
18. 2026-08-29
    days on market $67,900 Active 153 DOM
19. 2026-08-28
    days on market $67,900 Active 152 DOM
20. 2026-08-27
    days on market $67,900 Active 151 DOM
21. 2026-08-26
    days on market $67,900 Active 150 DOM
22. 2026-08-25
    days on market $67,900 Active 149 DOM
23. 2026-08-24
    days on market $67,900 Active 148 DOM
24. 2026-08-23
    days on market $67,900 Active 147 DOM
25. 2026-08-22
    days on market $67,900 Active 146 DOM
26. 2026-08-21
    days on market $67,900 Active 145 DOM
27. 2026-08-20
    days on market $67,900 Active 144 DOM
28. 2026-08-19
    days on market $67,900 Active 143 DOM
29. 2026-08-18
    days on market $67,900 Active 142 DOM
30. 2026-08-17
    days on market $67,900 Active 141 DOM
31. 2026-08-16
    days on market $67,900 Active 140 DOM
32. 2026-08-15
    days on market $67,900 Active 139 DOM
33. 2026-08-14
    days on market $67,900 Active 138 DOM
34. 2026-08-13
    days on market $67,900 Active 137 DOM
35. 2026-08-12
    days on market $67,900 Active 136 DOM
36. 2026-08-11
    days on market $67,900 Active 135 DOM
37. 2026-08-10
    days on market $67,900 Active 134 DOM
38. 2026-08-09
    days on market $67,900 Active 133 DOM
39. 2026-08-08
    days on market $67,900 Active 132 DOM
40. 2026-08-07
    days on market $67,900 Active 131 DOM
41. 2026-08-06
    days on market $67,900 Active 130 DOM
42. 2026-08-05
    days on market $67,900 Active 129 DOM
43. 2026-08-04
    days on market $67,900 Active 128 DOM
44. 2026-08-03
    days on market $67,900 Active 127 DOM
45. 2026-07-31
    days on market $67,900 Active 124 DOM
46. 2026-07-29
    days on market $67,900 Active 122 DOM
47. 2026-07-27
    days on market $67,900 Active 120 DOM
48. 2026-07-25
    days on market $67,900 Active 118 DOM
49. 2026-07-24
    days on market $67,900 Active 117 DOM
50. 2026-07-23
    days on market $67,900 Active 116 DOM

ⓘ 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: $1,955 · $163/mo
• Projected year-2 tax: $1,955 · $163/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: $15,826
• − Mortgage interest: −$2,913
• − Property taxes: −$1,955
• − Insurance: −$260
• − Repairs & maintenance: −$1,266
• − Management: −$1,266
• − Depreciation: −$1,513
• Taxable income: $6,653
• Est. tax owed @ 24.0%: −$1,597
• After-tax cash flow: $5,418/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.

Condition & rehab AI · 3 photos

Fair 45/100 Moderate rehab Est. rehab $23,500–$42,300 screening

This single-family home requires significant repairs and maintenance, including a new roof, exterior siding, and landscaping. Painting and staining can also improve its curb appeal and value.

Deferred maintenance Est. $40,000–$120,000 screening

• Major Roof (roof) — The roof appears to be in poor condition with visible damage and missing shingles.
• Major Windows (windows) — The windows appear to be old and possibly not functioning properly.
• Major Electrical (electrical) — The electrical panel is not visible, but the house's age suggests it may be outdated and in need of replacement.
• Major Exterior (exterior) — The exterior of the house shows significant wear and tear, with peeling paint and possible structural issues.

Repairs flagged

• Major roof — Signs of significant wear
• Major exterior siding — Weathered and in need of replacement
• Major fencing — Old and in need of repair
• Major landscaping — Sparse and overgrown

Value-add opportunities

• Both painting and staining — Fresh paint and staining can improve curb appeal and interior aesthetics ↑
• Both roof repair — A new roof will significantly increase the home's value and reduce maintenance costs ↑
• Both landscaping — A well-maintained yard can enhance curb appeal and property value ↑
• Both fencing repair — A repaired fence will improve the home's appearance and security ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 58/100

Zoned Schools

Elementary Fredonia Elementary School F NY #1,361/2,108 Nat'l #17,861/41,679 Middle Fredonia Middle School D NY #348/729 Nat'l #4,747/14,009 High Fredonia High School A NY #342/1,100 Nat'l #642/17,239

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

A Composite livability gradescore 81/100

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

• County: Chautauqua · 123,454 people
• Population (ZIP): 12,722
• Household income: $55,629
• Rent vs Own: 34.4% rent · 65.6% own
• Severe rent burden: 12% of renters

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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%

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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%

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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

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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

-9.5% since first listed

3 events — show timeline

• 2026-05-13 Pending — UNYREIS
• 2026-04-18 Price Changed $67,900 UNYREIS
• 2026-03-16 Listed $75,000 UNYREIS

Property tax history

-1.2%/yr

Latest (2025): $1,955 · +1.8% YoY. Source: county tax records.