66 Cushing St · Fredonia, NY 14063

$79,000

4 bd · 2.5 ba · 1,800 sqft · SingleFamily · 28 Days on market

Built 1900 Fair condition 0.54 ac lot

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

CONVENIENTLY LOCATED 4 BED 2.5 BATH HOME IN A NICE AREA IN THE VILLAGE OF FREDONIA. LARGE LOT. WALKING DISTANCE TO THE CENTER OF TOWN. COULD BE A GREAT HOME WITH A LITTLE UPDATING. HOME NEEDS A NEW ROOF. "THIS HOME WILL BE SOLD AS IS " WHERE IS " NO $$ CREDITS FOR REPAIRS WILL BE ISSUED. " " "BUYER PAYS FOR UPDATED SURVEY" $5,000.00 ESCROW. WILL BE UP TO 6 MONTHS FROM CONTRACT AGREEMENT UNTIL CLOSING. APPROVAL WILL BE BY THE CATHOLIC DIOCESE OF BUFFALO AND THE NY STATE SUPREME COURT FOR THE 4TH DISTRICT.

Key facts

• Large lot
• 0.54 acre lot
• Built 1900

Tags

• LARGE LOT

Property features AI

Exterior

• Parking: No garage
• Utilities: High-speed internet available; Public water connected; Sewer connected; Circuit breaker electrical service
• Home design: 2-story house; Existing construction; Faces unspecified
• Construction: Vinyl siding; Asphalt roof; Stone foundation; Built previously (existing structure)
• Exterior features: Gravel driveway; Corner lot; Irregular lot; Residential lot; City street frontage; Lot dimensions approximately 89 x 263

Interior

• Kitchen: Country-style kitchen; Dishwasher; Free-standing range; Oven; Refrigerator; Gas water heater
• Flooring: Hardwood; Vinyl; Varied flooring
• Bathrooms: 2 full bathrooms; 1 half bathroom; 2 main-level bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Den; Entrance foyer; Separate/formal living room; Home office; Country kitchen
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $79k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $744 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $79k).
• Recommended offer: $78k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.6% vs local median 3.4% in Fredonia — 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 81/100 on livability (#95 in NY, #1,446 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, commute A; Watch: amenities C-, employment C-, crime F.
• Fredonia Central School District (town): math 55% / reading 46% proficiency, ranked #376 of 590 in NY (top 64%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 90 active listings in the ZIP; 127 units permitted in Chautauqua County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Chautauqua County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,815 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. 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?
6. 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.
7. 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.
8. 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: 2.07% ✓
• Cap rate: 17.60%
• Cash-on-cash: 40.38%
• DSCR: 2.80
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $181,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
139 Eagle St	0.14mi	4/2.0	1,850 (+3%)	8mo	$105,000	$57	80
121 E Main St	0.21mi	4/2.0	1,609 (-11%)	4mo	$105,000	$65	67
235 Eagle St	0.38mi	3/1.5 (-1)	1,904 (+6%)	9mo	$185,000	$97	57
44 Spring St	0.39mi	4/2.0	1,664 (-8%)	14mo	$148,294	$89	56
20 Lakeview Ave	0.48mi	3/1.5 (-1)	1,936 (+8%)	2mo	$244,900	$126	54
328 E Main St	0.68mi	3/2.5 (-1)	1,695 (-6%)	2mo	$265,000	$156	52
36 Clinton Ave	0.59mi	3/2.0 (-1)	1,921 (+7%)	15mo	$125,000	$65	42
74 Newton St	0.59mi	4/2.0	1,632 (-9%)	20mo	$170,000	$104	38
18 Leverett St	0.66mi	4/1.5	2,000 (+11%)	13mo	$159,900	$80	36
252 Water St	0.53mi	3/3.5 (-1)	1,536 (-15%)	13mo	$293,500	$191	31
15 Leon Pl	0.74mi	3/1.5 (-1)	1,696 (-6%)	22mo	$195,000	$115	29
32 Summer St	0.67mi	4/1.5	1,584 (-12%)	21mo	$159,900	$101	27

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: 36.8%
• Equity multiple: 2.57×
• Total profit: $34,630
• Equity at exit: $11,779

10-year hold

• IRR: 43.4%
• Equity multiple: 5.13×
• Total profit: $91,298
• Equity at exit: $6,830

Cash invested: $22,120 (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 14063

• Home prices YoY: -23.6%
• Active inventory: 90
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,633 medium
• Mortgage (P&I): −$414
• Tax est. 1.5%: −$99 /mo · $1,185/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $744

Break-even live

Break-even rent $691

Max offer price $79,000

Occupancy floor 49%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $79,000 Active 28 DOM
2. 2026-06-17
   days on market $79,000 Active 27 DOM
3. 2026-06-16
   days on market $79,000 Active 26 DOM
4. 2026-06-15
   days on market $79,000 Active 25 DOM
5. 2026-06-13
   days on market $79,000 Active 23 DOM
6. 2026-06-12
   days on market $79,000 Active 22 DOM
7. 2026-06-09
   days on market $79,000 Active 19 DOM
8. 2026-06-08
   days on market $79,000 Active 18 DOM
9. 2026-06-07
   days on market $79,000 Active 17 DOM
10. 2026-06-07
    days on market $79,000 Active 16 DOM
11. 2026-06-04
    days on market $79,000 Active 13 DOM
12. 2026-06-02
    days on market $79,000 Active 12 DOM
13. 2026-06-01
    days on market $79,000 Active 11 DOM
14. 2026-05-31
    days on market $79,000 Active 10 DOM
15. 2026-05-21
    listed $79,000 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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 17 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: $19,599
• − Mortgage interest: −$4,425
• − Property taxes: −$1,185
• − Insurance: −$395
• − Repairs & maintenance: −$1,568
• − Management: −$1,568
• − Depreciation: −$2,298
• Taxable income: $8,160
• Est. tax owed @ 24.0%: −$1,958
• After-tax cash flow: $6,974/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 · 2 photos

Fair 40/100 Moderate rehab

This home requires significant repairs, particularly a new roof and exterior painting, to improve its condition and value.

Repairs flagged

• Major roof — The independent image shows significant wear and tear on the roof.
• Moderate exterior siding — The independent image shows weathered siding with peeling paint.
• Minor landscaping — The independent image shows some unkempt landscaping that could be improved with some maintenance.

Value-add opportunities

• Resale new roof — A new roof would significantly improve the home's curb appeal and overall condition.
• Resale exterior painting — Fresh paint would enhance the home's appearance and make it more attractive to potential buyers.
• Both landscaping — A well-maintained landscape would improve the home's curb appeal and increase its rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The independent image shows significant wear and tear on the roof.	Major	$15,000–50,000
exterior siding · The independent image shows weathered siding with peeling paint.	Moderate	$3,000–15,000
landscaping · The independent image shows some unkempt landscaping that could be improved with some maintenance.	Minor	$500–3,000
Total estimated repair cost · 3 items		$18,500–68,000

Value-add ROI direction

• Resale new roof — A new roof would significantly improve the home's curb appeal and overall condition. ↑
• Resale exterior painting — Fresh paint would enhance the home's appearance and make it more attractive to potential buyers. ↑
• Both landscaping — A well-maintained landscape would improve the home's curb appeal and increase its rental value. ↑

ⓘ 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: Fredonia Central School District
• NCES district ID: 3611520
• Math proficiency: 55% ▼ -8.00%
• Reading proficiency: 46% ▼ -8.00%
• Median HH income: $48,491
• Composite: 43.1/100
• National rank: #3086
• State rank: #376 of 590 in NY

Livability — Fredonia

• Score: 81/100
• State rank: #95
• US rank: #1446

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fredonia, NY
• Population (ZIP): 12,722

Population outlook (Chautauqua County) Hauer SSP2

• Today (2025): 123,454 people
• By 2030: 118,509 · -4.0%
• By 2040: 107,311 · -13.1%
• By 2050: 96,703 · -21.7%
• By 2075: 76,757 · -37.8%
• By 2100: 60,984 · -50.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 8% Two or more races 5% Black 3% Asian 2%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 14% Italian 3% Iranian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Chinese 1% Other Indo-European 1%

Political lean MEDSL · Chautauqua

• 2024 margin: Strong R (+22.0) · D 39.0% · R 61.0%
• 2008→2024 swing: -22.9pp toward R · 2008: 0.9pp · 2024: -22.0pp
• All cycles: 2024: R+22.0 2020: R+19.8 2016: R+24.6 2012: R+8.2 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.55%
• Current HPI: 253.5334
• 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

1 event — show timeline

• 2026-05-21 Listed $79,000 UNYREIS