187 Broad St · Salamanca, NY 14779

$169,900

3 bd · 1.0 ba · 1,400 sqft · SingleFamily · 11 Days on market

Built 1945 3,840 sqft lot $121/sqft · 26% above area Est $135k · 26% over

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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
• Appreciation +7.3/10.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

Beautifully remodeled 3 bedroom home with blacktop driveway for off street parking. Brand new kitchen and dining areas with plenty of new windows creates a bright and inviting interior. New 1st floor laundry room has been added with plenty of space to add an office/workspace. A compact concrete patio at the back of the home will add to enjoyment of outdoor relaxing, as well as the covered front porch. There is a side entrance off the driveway leading through the laundry room, as well as a side entrance to the kitchen for easy unloading of groceries and letting out pets. Nice location for schools and shopping.

Key facts

• Blacktop driveway
• Covered front porch
• New kitchen

Tags

• BLACKTOP DRIVEWAY
• NEW KITCHEN
• NEW DINING AREAS
• 1ST FLOOR LAUNDRY ROOM
• COMPACT CONCRETE PATIO
• COVERED FRONT PORCH

Property features AI

Exterior

• Parking: No garage
• Utilities: Electricity connected; Public water connected; Sewer connected; Cable available
• Home design: 2-story home; Existing property; Rectangular residential lot; City street frontage
• Construction: Frame construction; Blown-in insulation; Block foundation
• Exterior features: Blacktop driveway; Partial fencing; Fence; Covered porch

Interior

• Kitchen: Eat-in kitchen
• Flooring: Carpet; Laminate; Varied flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Ceiling fans; Entrance foyer; Eat-in kitchen; Separate formal living room; Home office; Full basement
• Laundry & utility: Laundry on main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).

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 $9k of equity ($1k loan paydown + $8k 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 $48k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,900

Questions for the listing agent

1. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.06% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.19%
• DSCR: 1.28
• GRM: 7.9

CMA / ARV

• ARV (median comp): $134,966
• List price: $169,900
• Delta: 25.88%
• 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
96 Frank St	0.48mi	3/1.0	1,465 (+5%)	15mo	$100,000	$68	57
20 Fawn Ave	0.22mi	4/2.0 (+1)	1,523 (+9%)	15mo	$130,000	$85	54
52 Franklin St	0.38mi	3/1.0	1,224 (-13%)	13mo	$31,000	$25	50
40 Fawn Ave	0.24mi	3/1.0	1,200 (-14%)	18mo	$105,000	$88	50
103 Erie St	0.68mi	3/1.0	1,206 (-14%)	1mo	$93,500	$78	44
157 Clinton St	0.64mi	3/1.5	1,568 (+12%)	7mo	$121,300	$77	42
51 Wilson St	0.53mi	2/1.0 (-1)	1,215 (-13%)	8mo	$40,000	$33	41

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: 17.1%
• Equity multiple: 2.06×
• Total profit: $50,235
• Equity at exit: $91,408

10-year hold

• IRR: 17.5%
• Equity multiple: 3.96×
• Total profit: $140,721
• Equity at exit: $153,870

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 14779

• Home prices YoY: 1.4%
• Active inventory: 27
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,797 medium
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,548/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $245

Break-even live

Break-even rent $1,486

Max offer price $169,900

Occupancy floor 81%

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 4 events

1. 2026-05-04
   status Pending 616-char remark
2. 2026-04-23
   listed $169,900 Active 616-char remark
3. 2026-04-18
   historical
4. 2025-10-18
   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.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥90°F today · 19 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: $21,562
• − Mortgage interest: −$9,517
• − Property taxes: −$2,548
• − Insurance: −$850
• − Repairs & maintenance: −$1,725
• − Management: −$1,725
• − Depreciation: −$4,943
• Taxable income: $255
• Est. tax owed @ 24.0%: −$61
• After-tax cash flow: $2,883/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

+0.0% since first listed

4 events — show timeline

• 2026-05-04 Pending — WNYREIS
• 2026-04-23 Listed $169,900 WNYREIS
• 2026-04-18 Listing Removed — WNYREIS
• 2025-10-18 Listed $169,900 WNYREIS