26 W Main St · Springville, NY 14141

$115,000

2 bd · 2.0 ba · 4,108 sqft · MultiFamily · 195 Days on market

Built 1952 Poor condition 2,841 sqft lot

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Why this score? — see what drove the D 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 +13.6/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• DSCR +4.1/10.0
• 1% rule +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

4,108 SF mixed-use building located in the Village of Springville’s B-1 Business District. The first floor is fully gutted, providing a clean slate for a variety of commercial build-outs, including retail, office, food service, apartments, mixed-use space or service-based uses. The rear portion of the first floor is currently framed out for a potential apartment; however, this area can easily be incorporated into the front commercial space if a larger footprint is required. The second floor includes two residential units: one partially gutted and one rentable 1-bedroom unit currently at $500/mo. Owner reports approximately $60,000 in completed structural and exterior improvements, including rear siding installation, added first-floor supports, and plumbing/electrical updates to portions of the second floor. This two-story structure offers a valuable opportunity for investors, contractors or owner-users looking for a project with strong upside. The property includes a commercial storefront on the first floor and residential units above. Square footage (4,108) measured by an appraiser. Also listed as Commercial B1653731. Property offered as-is.

Key facts

• Mixed-use building
• Potential apartment
• 2,841 sq ft lot

Tags

• MIXED-USE BUILDING
• B-1 BUSINESS DISTRICT
• COMMERCIAL BUILD-OUTS
• POTENTIAL APARTMENT
• STRUCTURAL IMPROVEMENTS
• EXTERIOR IMPROVEMENTS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $115k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $7 ($88/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $102k (11.7% below list).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 2.2% in Springville — 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 76/100 on livability (#213 in NY, #3,281 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: employment D+, commute F.
• Springville-Griffith Institute Central School District (town): math 47% / reading 52% proficiency, ranked #385 of 590 in NY (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 39 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 195 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 195 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 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 B-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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.88% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.27%
• DSCR: 1.01
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -15.9%
• Equity multiple: 0.44×
• Total profit: $-18,152
• Equity at exit: $17,147

10-year hold

• IRR: -7.4%
• Equity multiple: 0.53×
• Total profit: $-15,141
• Equity at exit: $9,943

Cash invested: $32,200 (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 14141

• Home prices YoY: -15.8%
• Active inventory: 39
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,015 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $7

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 94%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $115,000 Active 195 DOM
2. 2026-06-17
   days on market $115,000 Active 194 DOM
3. 2026-06-16
   days on market $115,000 Active 193 DOM
4. 2026-06-15
   days on market $115,000 Active 192 DOM
5. 2026-06-13
   days on market $115,000 Active 190 DOM
6. 2026-06-13
   days on market $115,000 Active 189 DOM
7. 2026-06-10
   days on market $115,000 Active 187 DOM
8. 2026-06-09
   days on market $115,000 Active 186 DOM
9. 2026-06-08
   days on market $115,000 Active 185 DOM
10. 2026-06-07
    days on market $115,000 Active 184 DOM
11. 2026-06-05
    days on market $115,000 Active 181 DOM
12. 2026-06-03
    days on market $115,000 Active 180 DOM
13. 2026-06-02
    days on market $115,000 Active 179 DOM
14. 2026-06-01
    days on market $115,000 Active 178 DOM
15. 2026-05-31
    days on market $115,000 Active 177 DOM
16. 2026-01-22
    price $115,000 1166-char remark

    Show marketing remark (1166 chars)

    4,108 SF mixed-use building located in the Village of Springville’s B-1 Business District. The first floor is fully gutted, providing a clean slate for a variety of commercial build-outs, including retail, office, food service, apartments, mixed-use space or service-based uses. The rear portion of the first floor is currently framed out for a potential apartment; however, this area can easily be incorporated into the front commercial space if a larger footprint is required. The second floor includes two residential units: one partially gutted and one rentable 1-bedroom unit currently at $500/mo. Owner reports approximately $60,000 in completed structural and exterior improvements, including rear siding installation, added first-floor supports, and plumbing/electrical updates to portions of the second floor. This two-story structure offers a valuable opportunity for investors, contractors or owner-users looking for a project with strong upside. The property includes a commercial storefront on the first floor and residential units above. Square footage (4,108) measured by an appraiser. Also listed as Commercial B1653731. Property offered as-is.

17. 2025-12-05
    listed $125,000 Active 1166-char remark

    Show marketing remark (1166 chars)

    4,108 SF mixed-use building located in the Village of Springville’s B-1 Business District. The first floor is fully gutted, providing a clean slate for a variety of commercial build-outs, including retail, office, food service, apartments, mixed-use space or service-based uses. The rear portion of the first floor is currently framed out for a potential apartment; however, this area can easily be incorporated into the front commercial space if a larger footprint is required. The second floor includes two residential units: one partially gutted and one rentable 1-bedroom unit currently at $500/mo. Owner reports approximately $60,000 in completed structural and exterior improvements, including rear siding installation, added first-floor supports, and plumbing/electrical updates to portions of the second floor. This two-story structure offers a valuable opportunity for investors, contractors or owner-users looking for a project with strong upside. The property includes a commercial storefront on the first floor and residential units above. Square footage (4,108) measured by an appraiser. Also listed as Commercial B1653731. Property offered as-is.

18. 2024-06-07
    soldstatus $105,000 Closed 730-char remark

    Show marketing remark (730 chars)

    Welcome to 26 W Main Street! This is a great investment opportunity in the heart of the Springville Preservation District. This is a multi/mixed use property with 2 fully rented apartments with a separate entrance way. The main floor storefront/office has over 12-foot ceilings and is a large canvas to create the space of your dreams. There is also an upstairs loft renovation that measures 36x32 with new insulation, drywall, recessed lighting, new electric, and new floor joists. A steel roof has been put on the back of the building and a metal roof covers the front. Main storefront measures 36x22, rear 27x23. This is a must see and opportunity awaits! Offers to be reviewed as received. Cross listed as Commercial B1533293

19. 2024-04-25
    status Pending 730-char remark

    Show marketing remark (730 chars)

    Welcome to 26 W Main Street! This is a great investment opportunity in the heart of the Springville Preservation District. This is a multi/mixed use property with 2 fully rented apartments with a separate entrance way. The main floor storefront/office has over 12-foot ceilings and is a large canvas to create the space of your dreams. There is also an upstairs loft renovation that measures 36x32 with new insulation, drywall, recessed lighting, new electric, and new floor joists. A steel roof has been put on the back of the building and a metal roof covers the front. Main storefront measures 36x22, rear 27x23. This is a must see and opportunity awaits! Offers to be reviewed as received. Cross listed as Commercial B1533293

20. 2024-04-23
    listed $95,000 Active 730-char remark

    Show marketing remark (730 chars)

    Welcome to 26 W Main Street! This is a great investment opportunity in the heart of the Springville Preservation District. This is a multi/mixed use property with 2 fully rented apartments with a separate entrance way. The main floor storefront/office has over 12-foot ceilings and is a large canvas to create the space of your dreams. There is also an upstairs loft renovation that measures 36x32 with new insulation, drywall, recessed lighting, new electric, and new floor joists. A steel roof has been put on the back of the building and a metal roof covers the front. Main storefront measures 36x22, rear 27x23. This is a must see and opportunity awaits! Offers to be reviewed as received. Cross listed as Commercial B1533293

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $12,184
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$975
• − Management: −$975
• − Depreciation: −$3,345
• Taxable loss: −$1,853
• Est. tax savings @ 24.0%: +$445
• After-tax cash flow: $533/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 · 1 photo

Poor 20/100 Extensive rehab

This multi-family property requires extensive repairs and updates to its exterior, interior, and HVAC systems, significantly impacting its value. Immediate attention to these issues is crucial for increasing its resale or rental value.

Repairs flagged

• Major Exterior siding — Severe peeling and damage
• Major Windows — Broken and missing
• Major Paint — Peeling and damaged
• Major HVAC/mechanicals — No visible units

Value-add opportunities

• Both Exterior siding repair — Improves curb appeal and structural integrity
• Both Window replacement — Enhances safety and energy efficiency
• Both Painting — Restores curb appeal and enhances property value
• Both HVAC/mechanical replacement — Improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Severe peeling and damage	Major	$15,000–50,000
Windows · Broken and missing	Major	$15,000–50,000
Paint · Peeling and damaged	Major	$15,000–50,000
HVAC/mechanicals · No visible units	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both Exterior siding repair — Improves curb appeal and structural integrity ↑
• Both Window replacement — Enhances safety and energy efficiency ↑
• Both Painting — Restores curb appeal and enhances property value ↑
• Both HVAC/mechanical replacement — Improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Springville-Griffith Institute Central School District
• NCES district ID: 3612990
• Math proficiency: 47% ▼ -15.00%
• Reading proficiency: 52% ▲ 7.00%
• Median HH income: $53,569
• Composite: 42.7/100
• National rank: #3170
• State rank: #385 of 590 in NY

Livability — Springville

• Score: 76/100
• State rank: #213
• US rank: #3281

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springville, NY
• Population (ZIP): 7,624

Population outlook (Erie County) Hauer SSP2

• Today (2025): 933,037 people
• By 2030: 935,181 · +0.2%
• By 2040: 928,531 · -0.5%
• By 2050: 905,725 · -2.9%
• By 2075: 834,037 · -10.6%
• By 2100: 708,033 · -24.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Romanian 19% Lithuanian 2% Slovak 2%
• Foreign-born: 1%

Political lean MEDSL · Erie

• 2024 margin: Lean D (+9.7) · D 54.8% · R 45.2%
• 2008→2024 swing: -7.9pp toward R · 2008: 17.5pp · 2024: 9.7pp
• All cycles: 2024: D+9.7 2020: D+14.7 2016: D+4.8 2012: D+15.6 2008: D+17.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.52%
• Current HPI: 374.6726
• 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

+21.1% since first listed

5 events — show timeline

• 2026-01-22 Price Changed $115,000 WNYREIS
• 2025-12-05 Listed $125,000 WNYREIS
• 2024-06-07 Sold (MLS) $105,000 WNYREIS
• 2024-04-25 Pending — WNYREIS
• 2024-04-23 Listed $95,000 WNYREIS