131 S Main St · Belfast, NY 14711

$21,900

4 bd · 1.5 ba · 1,017 sqft · SingleFamily public records · 135 Days on market

Built 1930 0.43 ac lot $22/sqft · 74% below area

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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 +15.0/30.0
• Appreciation +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Opportunity awaits with this spacious 4-bedroom, 1-bath home located in the heart of Belfast, NY. Featuring a classic covered front porch perfect for relaxing, and a durable metal roof offering long-term protection, this property offers solid bones and endless potential. Inside, you'll find generous room sizes and a traditional layout ready for your vision and updates. Whether you're an investor, flipper, or ambitious homeowner looking for your next project, this is your chance to build equity from the ground up. The home will require repairs and is being sold as-is, making it ideal for those with a creative eye and renovation skills. With its affordable price point, this fixer-upper is a rare find in today’s market—don’t miss your chance to restore and reimagine this diamond in the rough.

Key facts

• Covered front porch
• Metal roof
• Traditional layout

Tags

• COVERED FRONT PORCH
• METAL ROOF
• TRADITIONAL LAYOUT

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $22k.

Deal economics

• At list price, monthly cash flow is $396 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $22k).
• Recommended offer: $19k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#927 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, schools D+, crime F.
• Belfast Central School District (rural): math 50% / reading 40% proficiency, ranked #577 of 755 in NY (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 23 active listings in the ZIP; 87 units permitted in Allegany County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($151 loan paydown + $1k appreciation (6.1% local appreciation)).
• Allegany County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.1% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($19k) 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $314/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $19,272 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
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 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: 4.98% ✓
• Cap rate: 45.17%
• Cash-on-cash: 138.85%
• DSCR: 7.18
• GRM: 1.7

CMA / ARV

• ARV (median comp): $83,083
• List price: $21,900
• Delta: -73.64%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32 Merton Ave	0.69mi	3/1.0 (-1)	1,144 (+12%)	10mo	$42,500	$37	32

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

Projected returns pro-forma

6.12% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 84.7%
• Equity multiple: 6.20×
• Total profit: $31,894
• Equity at exit: $13,930

10-year hold

• IRR: 82.2%
• Equity multiple: 13.14×
• Total profit: $74,453
• Equity at exit: $25,403

Cash invested: $6,132 (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 14711

• Home prices YoY: 2.2%
• Active inventory: 23
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,090 medium
• Mortgage (P&I): −$115
• Tax est. 1.5%: −$27 /mo · $328/yr
• Insurance: −$9
• Flood insurance flood zone: −$314 /mo · $3,765/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $396

Break-even live

Break-even rent $589

Max offer price $21,900

Occupancy floor 59%

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: $5,475
• Closing costs: $657
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $21,900 Active 135 DOM
2. 2026-06-17
   days on market $21,900 Active 134 DOM
3. 2026-06-16
   days on market $21,900 Active 133 DOM
4. 2026-06-15
   days on market $21,900 Active 132 DOM
5. 2026-06-13
   days on market $21,900 Active 130 DOM
6. 2026-06-12
   days on market $21,900 Active 129 DOM
7. 2026-06-09
   days on market $21,900 Active 126 DOM
8. 2026-06-08
   days on market $21,900 Active 125 DOM
9. 2026-06-07
   days on market $21,900 Active 124 DOM
10. 2026-06-07
    days on market $21,900 Active 123 DOM
11. 2026-06-04
    days on market $21,900 Active 120 DOM
12. 2026-06-02
    days on market $21,900 Active 119 DOM
13. 2026-06-01
    days on market $21,900 Active 118 DOM
14. 2026-05-31
    days on market $21,900 Active 117 DOM
15. 2026-02-03
    listed $21,900 Active 818-char remark

    Show marketing remark (818 chars)

    Opportunity awaits with this spacious 4-bedroom, 1-bath home located in the heart of Belfast, NY. Featuring a classic covered front porch perfect for relaxing, and a durable metal roof offering long-term protection, this property offers solid bones and endless potential. Inside, you'll find generous room sizes and a traditional layout ready for your vision and updates. Whether you're an investor, flipper, or ambitious homeowner looking for your next project, this is your chance to build equity from the ground up. The home will require repairs and is being sold as-is, making it ideal for those with a creative eye and renovation skills. With its affordable price point, this fixer-upper is a rare find in today’s market—don’t miss your chance to restore and reimagine this diamond in the rough.

16. 2025-12-23
    historical
17. 2025-06-23
    listed $21,999 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 6/10 Major FEMA zone A · 68% 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,077
• − Mortgage interest: −$1,227
• − Property taxes: −$328
• − Insurance: −$3,874
• − Repairs & maintenance: −$1,046
• − Management: −$1,046
• − Depreciation: −$637
• Taxable income: $4,918
• Est. tax owed @ 24.0%: −$1,180
• After-tax cash flow: $3,569/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: Belfast Central School District
• NCES district ID: 3604350
• Math proficiency: 50% ▲ 10.00%
• Reading proficiency: 40% ▬ 0.00%
• Median HH income: $42,217
• Composite: 40.14/100
• National rank: #7847
• State rank: #577 of 755 in NY

Livability — Belfast

• Score: 61/100
• State rank: #927
• US rank: #18080

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Belfast, NY
• Population (ZIP): 1,861

Population outlook (Allegany County) Hauer SSP2

• Today (2025): 45,362 people
• By 2030: 43,078 · -5.0%
• By 2040: 38,031 · -16.2%
• By 2050: 33,634 · -25.9%
• By 2075: 25,285 · -44.3%
• By 2100: 18,902 · -58.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Romanian 5% Lithuanian 3% Iranian 3%
• Foreign-born: 0% · Canada
• Languages at home: 91% English-only · German/W. Germanic 9%

Political lean MEDSL · Allegany

• 2024 margin: Solid R (+43.2) · D 28.4% · R 71.6%
• 2008→2024 swing: -21.5pp toward R · 2008: -21.7pp · 2024: -43.2pp
• All cycles: 2024: R+43.2 2020: R+38.9 2016: R+42.3 2012: R+25.3 2008: R+21.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.12%
• Current HPI: 286.2504
• 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

• 2026-02-03 Listed $21,900 UNYREIS
• 2025-12-23 Listing Removed — UNYREIS
• 2025-06-23 Listed $21,999 UNYREIS

Property tax history

+1.3%/yr

Latest (2025): $1,635 · +0.6% YoY. Source: county tax records.