10 E Main St · Canisteo, NY 14823

$49,900

4 bd · 2.5 ba · 3,493 sqft · SingleFamily public records · 93 Days on market

Built 1862 0.30 ac lot $14/sqft · 77% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.1/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Do you have vision with the compassion to restore this rustic beauty to its classic 19th century glory? Or the imagination to bring it back to life with 21st century style and amenities? Here's your opportunity! In need of lots of love and complete restoration, this almost 3500 square foot home is ready and waiting. Some of the original woodwork is still intact. Being sold as-is, where is, with all faults known and unknown. All contents in and on the property at the time of closing will remain with the property. Please use care when entering and touring the home. No utilities are functioning. Bring a flashlight.

Key facts

• 0.3 acre lot
• Garage
• Built 1862

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $788 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $45k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#556 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety D, amenities F, commute F.
• Canisteo-Greenwood CSD (rural): math 51% / reading 53% proficiency, ranked #354 of 590 in NY (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 28 active listings in the ZIP; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($345 loan paydown + $4k appreciation (8.2% local appreciation)).
• Steuben County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.2% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $29k; list at $50k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1862 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $45,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1862 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 3.07% ✓
• Cap rate: 25.25%
• Cash-on-cash: 67.72%
• DSCR: 4.01
• GRM: 2.7

CMA / ARV

• ARV (median comp): $212,528
• List price: $49,900
• Delta: -76.52%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9 E Main St	0.04mi	4/2.0	3,174 (-9%)	24mo	$275,000	$87	61

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

Projected returns pro-forma

8.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 77.3%
• Equity multiple: 6.12×
• Total profit: $71,493
• Equity at exit: $38,601

10-year hold

• IRR: 72.8%
• Equity multiple: 13.19×
• Total profit: $170,293
• Equity at exit: $77,292

Cash invested: $13,972 (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 14823

• Home prices YoY: 2.8%
• Active inventory: 28
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,530 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$137 /mo · $1,648/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $788

Break-even live

Break-even rent $531

Max offer price $49,900

Occupancy floor 43%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $49,900 Active 93 DOM
2. 2026-06-18
   days on market $49,900 Active 92 DOM
3. 2026-06-17
   days on market $49,900 Active 91 DOM
4. 2026-06-16
   days on market $49,900 Active 90 DOM
5. 2026-06-15
   days on market $49,900 Active 89 DOM
6. 2026-06-14
   days on market $49,900 Active 87 DOM
7. 2026-06-12
   days on market $49,900 Active 86 DOM
8. 2026-06-09
   days on market $49,900 Active 83 DOM
9. 2026-06-08
   days on market $49,900 Active 82 DOM
10. 2026-06-07
    days on market $49,900 Active 81 DOM
11. 2026-06-05
    days on market $49,900 Active 78 DOM
12. 2026-06-03
    days on market $49,900 Active 77 DOM
13. 2026-06-02
    days on market $49,900 Active 76 DOM
14. 2026-06-01
    days on market $49,900 Active 75 DOM
15. 2026-05-31
    days on market $49,900 Active 74 DOM
16. 2026-05-30
    days on market $49,900 Active 73 DOM
17. 2026-03-18
    listed $49,900 Active 620-char remark

    Show marketing remark (620 chars)

    Do you have vision with the compassion to restore this rustic beauty to its classic 19th century glory? Or the imagination to bring it back to life with 21st century style and amenities? Here's your opportunity! In need of lots of love and complete restoration, this almost 3500 square foot home is ready and waiting. Some of the original woodwork is still intact. Being sold as-is, where is, with all faults known and unknown. All contents in and on the property at the time of closing will remain with the property. Please use care when entering and touring the home. No utilities are functioning. Bring a flashlight.

18. 2005-01-05
    soldstatus $29,000

ⓘ 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: $1,648 · $137/mo
• Projected year-2 tax: $1,648 · $137/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥91°F today · 18 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: $18,354
• − Mortgage interest: −$2,795
• − Property taxes: −$1,648
• − Insurance: −$250
• − Repairs & maintenance: −$1,468
• − Management: −$1,468
• − Depreciation: −$1,452
• Taxable income: $9,273
• Est. tax owed @ 24.0%: −$2,225
• After-tax cash flow: $7,236/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: Canisteo-Greenwood CSD
• NCES district ID: 3600124
• Math proficiency: 51% ▼ -5.00%
• Reading proficiency: 53% ▲ 7.00%
• Median HH income: $47,928
• Composite: 44.25/100
• National rank: #2843
• State rank: #354 of 590 in NY

Livability — Canisteo

• Score: 68/100
• State rank: #556
• US rank: #9982

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Canisteo, NY
• Population (ZIP): 3,697

Population outlook (Steuben County) Hauer SSP2

• Today (2025): 93,062 people
• By 2030: 89,793 · -3.5%
• By 2040: 82,353 · -11.5%
• By 2050: 74,286 · -20.2%
• By 2075: 55,589 · -40.3%
• By 2100: 37,587 · -59.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Asian 3% Two or more races 3%
• Common ancestry: Romanian 7% Slovak 4% Iranian 3%
• Foreign-born: 3% · China, Canada
• Languages at home: 95% English-only · Chinese 2% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Steuben

• 2024 margin: Solid R (+31.8) · D 34.1% · R 65.9%
• 2008→2024 swing: -15.0pp toward R · 2008: -16.8pp · 2024: -31.8pp
• All cycles: 2024: R+31.8 2020: R+29.6 2016: R+36.2 2012: R+16.4 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.20%
• Current HPI: 304.2112
• 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

+72.1% since first listed

2 events — show timeline

• 2026-03-18 Listed $49,900 UNYREIS
• 2005-01-05 Sold (Public Records) $29,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,648 · +0.4% YoY. Source: county tax records.