607 E State St · Salamanca, NY 14779

$139,900

3 bd · 1.0 ba · 1,494 sqft · SingleFamily public records · 17 Days on market

Built 1920 0.35 ac lot Est $120k · 17% over

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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
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Appreciation +7.3/10.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

1494 sq. ft 1-family 2 story house sit on 0.35 acre lot with 1 car detached garage. 1st floor has foyer, kitchen, living room, dining room, ¾ bathroom (shower). 2nd floor has 3 Bedrooms (all with walk-in closets), full bath. Full basement (unfinished). House has all new windows, new appliances, hardwood floors, freshly painted. Public water, public sewer, natural gas air heating system.

Key facts

• Tiled backsplash
• Farmhouse sink
• Spacious foyer

Tags

• SPACIOUS FOYER
• INVITING FORMAL LIVING
• UPDATED KITCHEN
• TILED BACKSPLASH
• CUSTOM COUNTERTOPS
• FARMHOUSE SINK

Property features AI

Exterior

• Parking: Detached garage; 2-car garage
• Utilities: Cable available; Electricity connected (circuit breakers); High speed internet available; Public water connected; Sewer connected
• Home design: Two-story house; Existing/resale property
• Construction: Vinyl siding; Block foundation
• Exterior features: Deck; Covered porch; Porch; Fence (partial); Gravel driveway; Rectangular residential lot; City street and main thoroughfare frontage

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Refrigerator
• Bedrooms: Three bedrooms (all on the second level)
• Flooring: Hardwood; Laminate; Tile; Vinyl; Varies
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Electric heating; Forced air; Radiant floor heating
• Interior features: Ceiling fan(s); Separate/formal dining room; Entrance foyer; Separate/formal living room; Natural woodwork
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $582 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#380 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, crime C-, amenities F.
• Salamanca City School District (town): math 29% / reading 43% proficiency, ranked #560 of 590 in NY (top 95%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 27 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 $7k of equity ($967 loan paydown + $6k appreciation (4.5% 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 (4.5% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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 $41k; list at $140k implies a 240% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $137,801 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — 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. 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.
4. 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.
5. 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: 1.28% ✓
• Cap rate: 11.28%
• Cash-on-cash: 17.82%
• DSCR: 1.79
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $119,520
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
612 Wildwood Ave	0.17mi	3/1.5	1,481 (-1%)	3mo	$117,500	$79	86
59 Prospect Ave	0.20mi	3/1.5	1,460 (-2%)	4mo	$130,000	$89	81
600 Wildwood Ave	0.19mi	3/1.5	1,419 (-5%)	16mo	$105,000	$74	67
27 Central Ave	0.23mi	3/1.0	1,652 (+11%)	6mo	$149,900	$91	67
21 Ellicott St	0.25mi	3/1.0	1,550 (+4%)	21mo	$150,000	$97	64
60 Cleveland Ave	0.40mi	3/1.5	1,356 (-9%)	5mo	$130,000	$96	60
89 Lincoln Ave	0.34mi	3/1.0	1,694 (+13%)	3mo	$74,000	$44	59
106 Merden St	0.39mi	3/1.0	1,599 (+7%)	16mo	$111,700	$70	57
7 Prospect Ave	0.28mi	3/1.5	1,320 (-12%)	13mo	$105,000	$80	55
36 Baker St	0.48mi	2/1.0 (-1)	1,410 (-6%)	11mo	$115,000	$82	54
533 Wildwood Ave	0.29mi	3/1.0	1,344 (-10%)	20mo	$85,000	$63	53

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

Projected returns pro-forma

4.52% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.4%
• Equity multiple: 2.67×
• Total profit: $65,464
• Equity at exit: $75,268

10-year hold

• IRR: 26.6%
• Equity multiple: 5.28×
• Total profit: $167,684
• Equity at exit: $126,701

Cash invested: $39,172 (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 14779

• Home prices YoY: 1.4%
• Active inventory: 27
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,796 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$45 /mo · $544/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $582

Break-even live

Break-even rent $1,060

Max offer price $139,900

Occupancy floor 63%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-17
   status $139,900 Pending 17 DOM
2. 2026-06-16
   days on market $139,900 Active Under Contract 17 DOM
3. 2026-06-15
   days on market $139,900 Active Under Contract 16 DOM
4. 2026-06-13
   days on market $139,900 Active Under Contract 14 DOM
5. 2026-06-12
   days on market $139,900 Active Under Contract 13 DOM
6. 2026-06-09
   days on market $139,900 Active Under Contract 10 DOM
7. 2026-06-08
   days on market $139,900 Active Under Contract 9 DOM
8. 2026-06-07
   days on market $139,900 Active Under Contract 8 DOM
9. 2026-06-05
   days on market $139,900 Active Under Contract 6 DOM
10. 2026-06-04
    statusdays on market $139,900 Active Under Contract 4 DOM
11. 2026-06-02
    days on market $139,900 Active 3 DOM
12. 2026-06-01
    days on market $139,900 Active 2 DOM
13. 2026-05-31
    remarks 699-char remark
14. 2026-05-31
    listed $139,900 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: $544 · $45/mo
• Projected year-2 tax: $1,454 · $121/mo
• Expected delta: +$910/yr (+$76/mo · 167.2%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 71% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 8 d/yr ≥90°F today · 19 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: $21,553
• − Mortgage interest: −$7,837
• − Property taxes: −$544
• − Insurance: −$700
• − Repairs & maintenance: −$1,724
• − Management: −$1,724
• − Depreciation: −$4,070
• Taxable income: $4,954
• Est. tax owed @ 24.0%: −$1,189
• After-tax cash flow: $5,790/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: Salamanca City School District
• NCES district ID: 3625440
• Math proficiency: 29% ▼ -12.00%
• Reading proficiency: 43% ▲ 5.00%
• Median HH income: $33,251
• Composite: 29.52/100
• National rank: #6500
• State rank: #560 of 590 in NY

Livability — Salamanca

• Score: 71/100
• State rank: #380
• US rank: #6521

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salamanca, NY
• Population (ZIP): 6,791

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 (68%)
• Race & ethnicity: White 68% Native American 18% Two or more races 9% Hispanic / Latino 5% Black 2%
• Common ancestry: Romanian 9% Lithuanian 2% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 2%

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: ▲ 4.52%
• Current HPI: 320.5286
• 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

+251.9% since first listed

13 events — show timeline

• 2026-05-29 Listed $139,900 WNYREIS
• 2018-06-15 Sold (Public Records) $41,200 Public Records
• 2018-06-15 Sold (MLS) $41,200 CNYIS
• 2018-06-04 Pending — CNYIS
• 2018-05-24 Pending — CNYIS
• 2018-04-16 Pending — CNYIS
• 2018-03-28 Relisted — CNYIS
• 2018-01-29 Pending — CNYIS
• 2018-01-22 Price Changed $49,000 CNYIS
• 2018-01-12 Price Changed $55,000 CNYIS
• 2018-01-04 Price Changed $62,000 CNYIS
• 2017-12-26 Listed $68,000 CNYIS
• 2001-04-05 Sold (Public Records) $39,750 Public Records

Property tax history

-4.6%/yr

Latest (2025): $544 · +15.1% YoY. Source: county tax records.