314 W State St · Albion, NY 14411

$169,900

5 bd · 2.5 ba · 2,632 sqft · MultiFamily public records · 23 Days on market

Built 1860 0.26 ac lot Est $229k · 26% under

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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 +21.2/30.0
• ARV discount +15.0/15.0
• 1% rule +6.8/10.0
• DSCR +6.8/10.0
• Schools +3.7/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Great investment opportunity in the Village of Albion! This half occupied 2-unit property features a spacious 3-bedroom apartment, and a well-maintained 2-bedroom unit. Tenants pay separate utilities, keeping operating costs low. Solid rental history with room to raise rents to market rates for increased cash flow. Located near downtown, schools, and amenities — this is a prime addition to any portfolio or a perfect first investment. Don’t miss your chance to own a cash-flowing duplex in a growing rental market! Delayed Negotiations May 12th

Key facts

• Separate utilities
• Solid rental history
• Cash-flowing duplex

Tags

• INVESTMENT OPPORTUNITY
• SEPARATE UTILITIES
• SOLID RENTAL HISTORY
• CASH-FLOWING DUPLEX
• GROWING RENTAL MARKET

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.2-bath units multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $246 ($3k/yr) — positive. Per door: $123/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $167k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 4.1% in Albion — 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 59/100 on livability (#1,009 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: schools C-, crime D-, amenities F.
• Albion Central School District (town): math 37% / reading 50% proficiency, ranked #479 of 590 in NY (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 44 active listings in the ZIP; 28 units permitted in Orleans County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Orleans County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,351 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1860 — 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. Crime grade is D 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?
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 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: 1.18% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.21%
• DSCR: 1.28
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $228,984
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
340 W State St	0.10mi	5/3.0	2,636 (+0%)	7mo	$230,000	$87	87

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: -6.7%
• Equity multiple: 0.75×
• Total profit: $-11,735
• Equity at exit: $25,333

10-year hold

• IRR: 3.0%
• Equity multiple: 1.22×
• Total profit: $10,478
• Equity at exit: $14,690

Cash invested: $47,572 (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 14411

• Home prices YoY: -11.6%
• Active inventory: 44
• Price-to-rent: 14.2×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$372 /mo · $4,467/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $246

Break-even live

Break-even rent $1,689

Max offer price $169,900

Occupancy floor 83%

Sensitivity live

Price	-10% $342	-5% $294	+0% $246	+5% $198	+10% $150
Rent	-10% $88	-5% $167	+0% $246	+5% $325	+10% $404
Rate	-1.0pp $332	-0.5pp $289	base $246	+0.5pp $202	+1.0pp $157

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.2	$2,000
Total (2 units)			$2,000

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2025-11-12
   soldstatus $169,000
2. 2025-05-26
   status Pending
3. 2025-05-03
   listed $169,900 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: $4,467 · $372/mo
• Projected year-2 tax: $4,467 · $372/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 ≥96°F today · 15 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: $24,000
• − Mortgage interest: −$9,517
• − Property taxes: −$4,467
• − Insurance: −$850
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − Depreciation: −$4,943
• Taxable income: $384
• Est. tax owed @ 24.0%: −$92
• After-tax cash flow: $2,860/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: Albion Central School District
• NCES district ID: 3602520
• Math proficiency: 37% ▼ -15.00%
• Reading proficiency: 50% ▲ 7.00%
• Median HH income: $45,408
• Composite: 36.91/100
• National rank: #4541
• State rank: #479 of 590 in NY

Livability — Albion

• Score: 59/100
• State rank: #1009
• US rank: #19661

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albion, NY
• Population (ZIP): 12,479

Population outlook (Orleans County) Hauer SSP2

• Today (2025): 39,123 people
• By 2030: 37,648 · -3.8%
• By 2040: 34,432 · -12.0%
• By 2050: 31,487 · -19.5%
• By 2075: 26,544 · -32.2%
• By 2100: 22,251 · -43.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 9% Hispanic / Latino 5% Two or more races 4%
• Common ancestry: Romanian 5% Iranian 2% Lithuanian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 95% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Orleans

• 2024 margin: Solid R (+40.5) · D 29.8% · R 70.2%
• 2008→2024 swing: -21.8pp toward R · 2008: -18.7pp · 2024: -40.5pp
• All cycles: 2024: R+40.5 2020: R+36.0 2016: R+43.4 2012: R+19.4 2008: R+18.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.68%
• Current HPI: 302.9236
• 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

-0.5% since first listed

3 events — show timeline

• 2025-11-12 Sold (Public Records) $169,000 Public Records
• 2025-05-26 Pending — UNYREIS
• 2025-05-03 Listed $169,900 UNYREIS

Property tax history

+5.1%/yr

Latest (2025): $4,467 · +16.1% YoY. Source: county tax records.