12554 Route 62 · Cherry Creek, NY 14726

$124,900

4 bd · 1.0 ba · 1,584 sqft · SingleFamily public records · 5 Days on market

Built 1910 0.27 ac lot

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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 +25.2/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Appreciation +6.4/10.0
• Schools +4.3/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Looking for a great buy! Look no further. Great fixer upper home. Very large and spacious rooms, 2 bedrooms downstairs and 2 bedrooms upstairs with a huge landing/sitting room at the top of the stairs. Home has had all new plumping, new bathroom, new hot water tank, new kitchen sink, all covered under warranty, new furnace, new electric box in 2008, newer replacement windows. This home is in need of some TLC but has great potential to the right person. Larger lot size and room to put up a garage, very solid structure. Just waiting to be made new again and filled with a family. Owner is anxious and ready to sell. Give me a call and lets make a deal!

Key facts

• New upgrades
• Propane stove
• Back deck

Tags

• UPDATED ON THE INSIDE
• NEW UPGRADES
• BACK DECK
• PROPANE STOVE
• RANDOLPH SCHOOL DISTRICT

Property features AI

Exterior

• Parking: No garage
• Utilities: Well water; Septic tank
• Home design: Two-story frame home with vinyl siding; Existing/resale property
• Construction: Built as existing/resale; Frame construction with vinyl siding; Block and stone foundation
• Exterior features: Blacktop driveway; Rectangular lot; Agricultural zoning/setting; Main thoroughfare road frontage; Lot dimensions approximately 71 x 165

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: One main-level bedroom
• Flooring: Hardwood; Laminate; Tile; Varies
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Propane heating; Central air conditioning
• Interior features: Separate/formal living room; Kitchen/family room combo; Bedroom on main level; Partial basement
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $282 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).

Location & tenants

• Location reads 57/100 on livability (#1,081 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Randolph Central School District (rural): math 46% / reading 57% proficiency, ranked #370 of 590 in NY (top 63%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: G N Chapman Elementary School (math 40% / reading 53%, grade D-, #1,262 of 2,108 statewide, top 60%, 448 students, 46% FRL); Randolph Senior High School (math 57% / reading 62%, grade C+, #851 of 1,100 statewide, top 80%, 405 students, 46% FRL).
• Market conditions: 8 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 $4k of equity ($864 loan paydown + $4k appreciation (2.9% 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 (2.9% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 15y ago 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.
• Current owner paid $17k; list at $125k implies a 635% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,900

Questions for the listing agent

1. Built in 1910 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
5. 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.
6. 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.
7. 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: 1.14% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.66%
• DSCR: 1.43
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.86% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.2%
• Equity multiple: 1.92×
• Total profit: $32,102
• Equity at exit: $55,213

10-year hold

• IRR: 17.9%
• Equity multiple: 3.58×
• Total profit: $90,281
• Equity at exit: $84,360

Cash invested: $34,972 (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 14726

• Home prices YoY: 0.8%
• Active inventory: 8
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,420 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$133 /mo · $1,598/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $282

Break-even live

Break-even rent $1,064

Max offer price $124,900

Occupancy floor 75%

Sensitivity live

Price	-10% $352	-5% $317	+0% $282	+5% $246	+10% $211
Rent	-10% $169	-5% $226	+0% $282	+5% $338	+10% $394
Rate	-1.0pp $345	-0.5pp $313	base $282	+0.5pp $249	+1.0pp $216

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-07
   statusdays on market $124,900 Pending 5 DOM
2. 2026-06-04
   days on market $124,900 Active 2 DOM
3. 2026-06-01
   remarks 699-char remark
4. 2026-06-01
   listed $124,900 Active 1 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: $1,598 · $133/mo
• Projected year-2 tax: $1,855 · $155/mo
• Expected delta: +$256/yr (+$21/mo · 16.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 47% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥91°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,041
• − Mortgage interest: −$6,996
• − Property taxes: −$1,598
• − Insurance: −$624
• − Repairs & maintenance: −$1,363
• − Management: −$1,363
• − Depreciation: −$3,633
• Taxable income: $1,462
• Est. tax owed @ 24.0%: −$351
• After-tax cash flow: $3,029/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: Randolph Central School District
• NCES district ID: 3624090
• Math proficiency: 46% ▼ -16.00%
• Reading proficiency: 57% ▲ 6.00%
• Median HH income: $42,406
• Composite: 43.26/100
• National rank: #3053
• State rank: #370 of 590 in NY

Livability — Cherry Creek

• Score: 57/100
• State rank: #1081
• US rank: #21746

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,681

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 (98%)
• Race & ethnicity: White 98%
• Common ancestry: Polish 10% Romanian 5% Iranian 3%
• Languages at home: 62% English-only · German/W. Germanic 37% Spanish 1%

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: ▲ 2.86%
• Current HPI: 346.84
• 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

+593.9% since first listed

6 events — show timeline

• 2026-06-01 Listed $124,900 UNYREIS
• 2012-09-10 Sold (Public Records) $17,000 Public Records
• 2012-09-10 Sold (MLS) $17,000 UNYREIS
• 2012-05-15 Listed $23,000 UNYREIS
• 2011-09-14 Listed $25,000 UNYREIS
• 2002-08-28 Sold (Public Records) $18,000 Public Records

Property tax history

+1.4%/yr

Latest (2025): $1,598 · +2.0% YoY. Source: county tax records.