115-117 Spring St · Springville, NY 14141

$134,900

4 bd · 1.5 ba · 2,142 sqft · SingleFamily · 17 Days on market

Built 1930 Fair condition 0.38 ac lot Est $251k · 46% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.3/30.0
• Schools +4.3/10.0
• DSCR +4.0/10.0
• Livability +3.8/5.0
• 1% rule +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Currently utilized as a single-family home, this property offers excellent potential to easily convert back to a duplex for added income opportunities. Conveniently located in the Village of Springville, close to Bertrand Chaffee Hospital, downtown shops, restaurants, and everyday conveniences. The home is currently set up as a spacious 4 bedroom, 1.5 bath residence featuring a first-floor laundry area, office space, blacktop driveway, and a good-sized backyard. Updates include a roof completed in 2010 and some vinyl replacement windows installed in 2002. With solid space, flexible possibilities, and plenty of potential, this property is a great opportunity for an owner occupant or investor ready to add their personal touch and build equity! See ML R1683334 for Single Family listing.

Key facts

• Blacktop driveway
• Office space
• Good-sized backyard

Tags

• SINGLE-FAMILY HOME
• FIRST-FLOOR LAUNDRY AREA
• OFFICE SPACE
• BLACKTOP DRIVEWAY
• GOOD-SIZED BACKYARD
• ROOF COMPLETED IN 2010

Property features AI

Exterior

• Parking: No garage; Shared driveway
• Utilities: Public water (connected); Sewer connected; Electric with fuses
• Home design: 2-story existing home; Poured foundation; Asphalt roof
• Construction: Poured foundation; Asphalt roof; Construction details: see remarks
• Exterior features: Blacktop driveway; City street frontage; Rectangular residential lot (approximately 0.3788 acres; 50 x 330)

Interior

• Kitchen: Gas oven; Gas range; Eat-in kitchen
• Bedrooms: One main-level bedroom; Second-floor bedrooms (three additional bedrooms)
• Flooring: Carpet; Hardwood; Laminate; Varies
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Separate/formal dining room; Eat-in kitchen; Separate/formal living room; Natural woodwork; Bedroom on main level; Full basement
• Laundry & utility: Main-level laundry; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $135k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $0 ($-3/yr) — negative.
• To cash-flow at today's rent, offer at most $135k (0.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $118k (12.5% below list).
• Recommended offer: $118k (12.5% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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 $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($133k) 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: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,975 (12.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.87% ✗
• Cap rate: 6.29%
• Cash-on-cash: -0.01%
• DSCR: 1.00
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $250,614
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
167 E Main St	0.25mi	5/2.0 (+1)	2,196 (+2%)	10mo	$275,000	$125	68
54 Spring St	0.12mi	3/2.0 (-1)	2,019 (-6%)	12mo	$175,000	$87	68
96 W Edgewood Dr	0.56mi	4/2.5	2,122 (-1%)	3mo	$306,000	$144	66
24 Prospect Ave	0.32mi	4/2.5	2,203 (+3%)	18mo	$305,000	$138	62
59 Maple Ave	0.12mi	4/2.0	2,360 (+10%)	21mo	$275,000	$117	58
72 Childs St	0.44mi	3/1.0 (-1)	2,254 (+5%)	21mo	$70,000	$31	46
206 Elk St	0.64mi	5/2.0 (+1)	2,272 (+6%)	11mo	$260,000	$114	44
72 Ellis Ave	0.74mi	4/2.0	2,024 (-6%)	14mo	$289,900	$143	43
56 Mill St	0.46mi	3/2.0 (-1)	2,320 (+8%)	19mo	$250,000	$108	42
17 Chestnut St	0.67mi	4/1.0	2,403 (+12%)	18mo	$212,999	$89	32
155 Woodward Ave	0.66mi	3/2.0 (-1)	1,852 (-14%)	17mo	$35,000	$19	26
9 Rauch Dr	0.75mi	3/2.5 (-1)	2,450 (+14%)	16mo	$530,000	$216	19

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: -16.3%
• Equity multiple: 0.42×
• Total profit: $-21,858
• Equity at exit: $20,114

10-year hold

• IRR: -8.0%
• Equity multiple: 0.50×
• Total profit: $-18,983
• Equity at exit: $11,664

Cash invested: $37,772 (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: 9.5×

Monthly cashflow live

• Estimated rent: $1,180 medium
• Mortgage (P&I): −$707
• Tax est. 1.5%: −$169 /mo · $2,024/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $-0

Break-even live

Break-even rent $1,180

Max offer price $134,862

Occupancy floor 95%

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-13
   status $134,900 Pending 17 DOM
2. 2026-06-10
   statusdays on market $134,900 Active 17 DOM
3. 2026-06-09
   days on market $134,900 Active Under Contract 16 DOM
4. 2026-06-08
   days on market $134,900 Active Under Contract 15 DOM
5. 2026-06-08
   status $134,900 Active Under Contract 14 DOM
6. 2026-06-05
   status $134,900 Pending 14 DOM
7. 2026-06-03
   days on market $134,900 Active 14 DOM
8. 2026-06-02
   days on market $134,900 Active 13 DOM
9. 2026-06-01
   days on market $134,900 Active 12 DOM
10. 2026-05-31
    days on market $134,900 Active 11 DOM
11. 2026-05-20
    listed $134,900 Active 795-char remark

    Show marketing remark (795 chars)

    Currently utilized as a single-family home, this property offers excellent potential to easily convert back to a duplex for added income opportunities. Conveniently located in the Village of Springville, close to Bertrand Chaffee Hospital, downtown shops, restaurants, and everyday conveniences. The home is currently set up as a spacious 4 bedroom, 1.5 bath residence featuring a first-floor laundry area, office space, blacktop driveway, and a good-sized backyard. Updates include a roof completed in 2010 and some vinyl replacement windows installed in 2002. With solid space, flexible possibilities, and plenty of potential, this property is a great opportunity for an owner occupant or investor ready to add their personal touch and build equity! See ML R1683334 for Single Family listing.

12. 2026-05-20
    listed $134,900 Active

    Show marketing remark (795 chars)

    Currently utilized as a single-family home, this property offers excellent potential to easily convert back to a duplex for added income opportunities. Conveniently located in the Village of Springville, close to Bertrand Chaffee Hospital, downtown shops, restaurants, and everyday conveniences. The home is currently set up as a spacious 4 bedroom, 1.5 bath residence featuring a first-floor laundry area, office space, blacktop driveway, and a good-sized backyard. Updates include a roof completed in 2010 and some vinyl replacement windows installed in 2002. With solid space, flexible possibilities, and plenty of potential, this property is a great opportunity for an owner occupant or investor ready to add their personal touch and build equity! See ML R1683334 for Single Family listing.

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥91°F today · 16 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: $14,157
• − Mortgage interest: −$7,556
• − Property taxes: −$2,024
• − Insurance: −$674
• − Repairs & maintenance: −$1,133
• − Management: −$1,133
• − Depreciation: −$3,924
• Taxable loss: −$2,287
• Est. tax savings @ 24.0%: +$549
• After-tax cash flow: $546/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

Fair 45/100 Moderate rehab

The home requires significant repairs and maintenance, including a new roof, exterior painting, and landscaping. These improvements will significantly increase its resale and rental value.

Repairs flagged

• Major roof — The roof appears to be in poor condition based on the satellite image.
• Major exterior siding — The exterior siding appears to be in poor condition.
• Major windows — The windows appear to be in poor condition.
• Major landscaping — The landscaping appears to be overgrown and in poor condition.

Value-add opportunities

• Both repair and replace roof — A new roof will improve the home's appearance and increase its value.
• Both repair and paint exterior — A fresh coat of paint will improve the home's curb appeal and increase its value.
• Both replace windows — New windows will improve energy efficiency and increase the home's value.
• Both trim and landscape — A well-maintained yard will improve the home's curb appeal and increase its value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition based on the satellite image.	Major	$15,000–50,000
exterior siding · The exterior siding appears to be in poor condition.	Major	$15,000–50,000
windows · The windows appear to be in poor condition.	Major	$15,000–50,000
landscaping · The landscaping appears to be overgrown and in poor condition.	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both repair and replace roof — A new roof will improve the home's appearance and increase its value. ↑
• Both repair and paint exterior — A fresh coat of paint will improve the home's curb appeal and increase its value. ↑
• Both replace windows — New windows will improve energy efficiency and increase the home's value. ↑
• Both trim and landscape — A well-maintained yard will improve the home's curb appeal and increase its 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: 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

+0.0% since first listed

2 events — show timeline

• 2026-05-20 Listed $134,900 UNYREIS
• 2026-05-20 Listed $134,900 UNYREIS