17 Christy St · Silver Creek, NY 14136

$144,900

5 bd · 2.5 ba · 2,881 sqft · MultiFamily public records · 153 Days on market

Built 1900 5,630 sqft 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great income property. You'll want to see this very nice duplex apartment house--live in one unit and let the other pay your mortgage. It's located in a quiet Silver Creek neighborhood and features newer windows and 30 year roof; 2-bedroom/1-bath unit rents for $575/mo. plus gas, electric & sewer; 3-bedroom/1.5-bath unit rents for $650/mo. plus gas, electric & sewer; full basement, all new exterior doors, both units have newer 100 amp breaker boxes and newer hot water tanks. Stove and refrigerator stay in one unit, refrigerator only stays in the other unit. Unit 1 has walk-up attic with two large rooms that could be another bedroom, playroom or office. Call soon.

Key facts

• Separate utilities
• Close to restaurants
• Two-family duplex

Tags

• TWO-FAMILY DUPLEX
• CORNER LOT
• SEPARATE UTILITIES
• PEACEFUL NEIGHBORHOOD
• CLOSE TO SUNSET BAY
• CLOSE TO RESTAURANTS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.2-bath units multifamily listed at $145k.

Deal economics

• At list price, monthly cash flow is $695 ($8k/yr) — positive. Per door: $348/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#698 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety F.
• Silver Creek Central School District (rural): math 43% / reading 51% proficiency, ranked #435 of 590 in NY (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 29 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 $1k of loan paydown is wiped out by about $4k 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 $41k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y ago; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $68k; list at $145k implies a 113% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $127,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.55% ✓
• Cap rate: 12.05%
• Cash-on-cash: 20.56%
• DSCR: 1.91
• GRM: 5.4

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: 12.9%
• Equity multiple: 1.51×
• Total profit: $20,864
• Equity at exit: $21,605

10-year hold

• IRR: 21.8%
• Equity multiple: 2.86×
• Total profit: $75,485
• Equity at exit: $12,528

Cash invested: $40,572 (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 14136

• Home prices YoY: -4.1%
• Active inventory: 29
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,239 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$254 /mo · $3,043/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $695

Break-even live

Break-even rent $1,359

Max offer price $144,900

Occupancy floor 64%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.2	$2,238
Total (2 units)			$2,239

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-04-14
   status Pending
2. 2026-03-17
   price $144,900
3. 2026-01-14
   price $159,900
4. 2025-11-12
   listed $164,900 Active
5. 2019-05-24
   soldstatus $68,100 Closed Sale or Rented 683-char remark

   Show marketing remark (683 chars)

   Great income property. You'll want to see this very nice duplex apartment house--live in one unit and let the other pay your mortgage. It's located in a quiet Silver Creek neighborhood and features newer windows and 30 year roof; 2-bedroom/1-bath unit rents for $575/mo. plus gas, electric & sewer; 3-bedroom/1.5-bath unit rents for $650/mo. plus gas, electric & sewer; full basement, all new exterior doors, both units have newer 100 amp breaker boxes and newer hot water tanks. Stove and refrigerator stay in one unit, refrigerator only stays in the other unit. Unit 1 has walk-up attic with two large rooms that could be another bedroom, playroom or office. Call soon.

6. 2019-05-24
   soldstatus $68,100

   Show marketing remark (683 chars)

   Great income property. You'll want to see this very nice duplex apartment house--live in one unit and let the other pay your mortgage. It's located in a quiet Silver Creek neighborhood and features newer windows and 30 year roof; 2-bedroom/1-bath unit rents for $575/mo. plus gas, electric & sewer; 3-bedroom/1.5-bath unit rents for $650/mo. plus gas, electric & sewer; full basement, all new exterior doors, both units have newer 100 amp breaker boxes and newer hot water tanks. Stove and refrigerator stay in one unit, refrigerator only stays in the other unit. Unit 1 has walk-up attic with two large rooms that could be another bedroom, playroom or office. Call soon.

7. 2019-04-21
   status Under Contract- Do Not Show 683-char remark

   Show marketing remark (683 chars)

   Great income property. You'll want to see this very nice duplex apartment house--live in one unit and let the other pay your mortgage. It's located in a quiet Silver Creek neighborhood and features newer windows and 30 year roof; 2-bedroom/1-bath unit rents for $575/mo. plus gas, electric & sewer; 3-bedroom/1.5-bath unit rents for $650/mo. plus gas, electric & sewer; full basement, all new exterior doors, both units have newer 100 amp breaker boxes and newer hot water tanks. Stove and refrigerator stay in one unit, refrigerator only stays in the other unit. Unit 1 has walk-up attic with two large rooms that could be another bedroom, playroom or office. Call soon.

8. 2019-01-09
   listed $69,900 Active 683-char remark

   Show marketing remark (683 chars)

   Great income property. You'll want to see this very nice duplex apartment house--live in one unit and let the other pay your mortgage. It's located in a quiet Silver Creek neighborhood and features newer windows and 30 year roof; 2-bedroom/1-bath unit rents for $575/mo. plus gas, electric & sewer; 3-bedroom/1.5-bath unit rents for $650/mo. plus gas, electric & sewer; full basement, all new exterior doors, both units have newer 100 amp breaker boxes and newer hot water tanks. Stove and refrigerator stay in one unit, refrigerator only stays in the other unit. Unit 1 has walk-up attic with two large rooms that could be another bedroom, playroom or office. Call soon.

9. 2017-04-10
   listed $69,900
10. 2014-04-10
    soldstatus $60,500
11. 2014-04-04
    soldstatus $60,500
12. 2014-04-04
    soldstatus $57,000
13. 2013-09-16
    listed $59,900
14. 2013-09-13
    listed $59,900
15. 2012-02-01
    listed $55,900
16. 2004-10-19
    soldstatus $56,000

ⓘ 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: $3,043 · $254/mo
• Projected year-2 tax: $3,043 · $254/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 2/10 Low 7 d/yr ≥93°F today · 15 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: $26,868
• − Mortgage interest: −$8,117
• − Property taxes: −$3,043
• − Insurance: −$724
• − Repairs & maintenance: −$2,149
• − Management: −$2,149
• − Depreciation: −$4,215
• Taxable income: $6,470
• Est. tax owed @ 24.0%: −$1,553
• After-tax cash flow: $6,787/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: Silver Creek Central School District
• NCES district ID: 3626880
• Math proficiency: 43% ▼ -4.00%
• Reading proficiency: 51% ▲ 6.00%
• Median HH income: $48,212
• Composite: 40.1/100
• National rank: #3804
• State rank: #435 of 590 in NY

Livability — Silver Creek

• Score: 65/100
• State rank: #698
• US rank: #13141

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Silver Creek, NY
• Population (ZIP): 5,274

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 (89%)
• Race & ethnicity: White 89% Two or more races 5% Hispanic / Latino 5% Black 1%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 12% Lithuanian 9% Italian 2%
• Foreign-born: 1%
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1% German/W. Germanic 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: ▼ -12.33%
• Current HPI: 291.4708
• 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

+158.8% since first listed

16 events — show timeline

• 2026-04-14 Pending — UNYREIS
• 2026-03-17 Price Changed $144,900 UNYREIS
• 2026-01-14 Price Changed $159,900 UNYREIS
• 2025-11-12 Listed $164,900 UNYREIS
• 2019-05-24 Sold (Public Records) $68,100 Public Records
• 2019-05-24 Sold (MLS) $68,100 UNYREIS
• 2019-04-21 Pending — UNYREIS
• 2019-01-09 Listed $69,900 UNYREIS
• 2017-04-10 Listed $69,900 UNYREIS
• 2014-04-10 Sold (MLS) $60,500 UNYREIS
• 2014-04-04 Sold (Public Records) $57,000 Public Records
• 2014-04-04 Sold (MLS) $60,500 WNYREIS
• 2013-09-16 Listed $59,900 WNYREIS
• 2013-09-13 Listed $59,900 UNYREIS
• 2012-02-01 Listed $55,900 UNYREIS
• 2004-10-19 Sold (Public Records) $56,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $3,043 · +3.7% YoY. Source: county tax records.