31 1st Ave · Franklinville, NY 14737

$108,000

3 bd · 2.0 ba · 1,456 sqft · SingleFamily public records · 171 Days on market

Built 1900 7,650 sqft lot Est $122k · 12% under

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Why this score? — see what drove the C- 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 +12.8/15.0
• Cash flow +10.6/30.0
• Appreciation +8.0/10.0
• 1% rule +5.9/10.0
• Schools +4.9/10.0
• DSCR +3.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great 3 bedroom village home. Home is in finishing touches of complete remodel and will be fully finished prior to closing. Sun porch on front of home opens to foyer with open stair case to second floor, off of foyer to the left is large living room with hardwood floors to the right is the formal dining room. The rear of the home boasts a large eat in kitchen with lots of cupboard space , all appliances included. Off of kitchen is laundry area with washer and dryer included and the down stairs full bath with whirlpool tub. Upstairs you will find 2 large bedrooms with ample closet space and a second full bath with walk in shower. Off of bath is third bedroom. Off the rear of the house is a large deck great for entertaining and a large fenced in private yard. Large shed also goes with property for plenty of storage space. This is home is a must see! Many updates have been done you will be able to move right in with out having to do a thing! Table in kitchen does not stay.

Key facts

• 7,650 sq ft lot
• Built 1900
• Listed 171 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $108k.

Deal economics

• At list price, monthly cash flow is $-109 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $90k (17.0% below list).
• Meets the 1% rule at list price ($1k rent vs $108k).
• Recommended offer: $90k (17.0% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 62/100 on livability (#856 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment C-, amenities F, commute F.
• Franklinville Central School District (rural): math 60% / reading 57% proficiency, ranked #281 of 590 in NY (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Franklinville Elementary School (math 67% / reading 52%, grade B-, #745 of 2,108 statewide, top 39%, 286 students, 51% FRL); Franklinville Junior-Senior High School (math 57% / reading 62%, grade C+, #851 of 1,100 statewide, top 80%, 299 students, 50% FRL).
• Market conditions: 33 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 ($747 loan paydown + $6k appreciation (5.9% local appreciation)).
• Cattaraugus County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 5, 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 171 days — a 12% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 11y ago; this cycle's ask has dropped $12k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.1% of price; flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,628 (17.0% 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. It's been on market 171 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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.
10. 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.
11. 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: 1.09% ✓
• Cap rate: 5.70%
• Cash-on-cash: -2.12%
• DSCR: 0.91
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $122,304
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Washburn Ave	0.19mi	3/1.0	1,360 (-7%)	10mo	$85,088	$63	68
34 Church St	0.33mi	3/1.5	1,268 (-13%)	10mo	$158,000	$125	53
35 Elm St	0.42mi	3/1.5	1,337 (-8%)	14mo	$21,000	$16	53
13 Johnson St	0.41mi	3/1.0	1,322 (-9%)	11mo	$92,500	$70	52
59 N Main St	0.42mi	3/1.5	1,568 (+8%)	16mo	$43,000	$27	52
1103 Mount Pleasant Ave	0.24mi	2/1.0 (-1)	1,584 (+9%)	16mo	$187,000	$118	52
16 Pennsylvania Ave	0.36mi	3/1.0	1,302 (-11%)	14mo	$109,900	$84	50
25 Riggs St	0.36mi	3/1.0	1,248 (-14%)	7mo	$129,000	$103	49
15 Maple Ave	0.21mi	4/2.0 (+1)	1,664 (+14%)	15mo	$184,000	$111	49
57 N Main St	0.41mi	3/1.0	1,624 (+12%)	13mo	$88,000	$54	47

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

Projected returns pro-forma

5.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.8%
• Equity multiple: 1.79×
• Total profit: $23,976
• Equity at exit: $67,403

10-year hold

• IRR: 12.7%
• Equity multiple: 3.53×
• Total profit: $76,477
• Equity at exit: $121,812

Cash invested: $30,240 (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 14737

• Home prices YoY: 2.0%
• Active inventory: 33
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,179 medium
• Mortgage (P&I): −$566
• Tax from tax record: −$373 /mo · $4,481/yr
• Insurance: −$45
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $-109

Break-even live

Break-even rent $1,317

Max offer price $89,628

Occupancy floor —

Sensitivity live

Price	-10% $-48	-5% $-78	+0% $-109	+5% $-140	+10% $-170
Rent	-10% $-202	-5% $-156	+0% $-109	+5% $-62	+10% $-16
Rate	-1.0pp $-55	-0.5pp $-82	base $-109	+0.5pp $-137	+1.0pp $-165

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: $27,000
• Closing costs: $3,240
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-03-28
   status Pending
2. 2026-02-23
   price $108,000
3. 2025-10-08
   listed $120,000 Active
4. 2021-11-05
   soldstatus $115,000 Closed Sale or Rented 988-char remark

   Show marketing remark (988 chars)

   Great 3 bedroom village home. Home is in finishing touches of complete remodel and will be fully finished prior to closing. Sun porch on front of home opens to foyer with open stair case to second floor, off of foyer to the left is large living room with hardwood floors to the right is the formal dining room. The rear of the home boasts a large eat in kitchen with lots of cupboard space , all appliances included. Off of kitchen is laundry area with washer and dryer included and the down stairs full bath with whirlpool tub. Upstairs you will find 2 large bedrooms with ample closet space and a second full bath with walk in shower. Off of bath is third bedroom. Off the rear of the house is a large deck great for entertaining and a large fenced in private yard. Large shed also goes with property for plenty of storage space. This is home is a must see! Many updates have been done you will be able to move right in with out having to do a thing! Table in kitchen does not stay.

5. 2021-11-05
   soldstatus $115,000

   Show marketing remark (988 chars)

   Great 3 bedroom village home. Home is in finishing touches of complete remodel and will be fully finished prior to closing. Sun porch on front of home opens to foyer with open stair case to second floor, off of foyer to the left is large living room with hardwood floors to the right is the formal dining room. The rear of the home boasts a large eat in kitchen with lots of cupboard space , all appliances included. Off of kitchen is laundry area with washer and dryer included and the down stairs full bath with whirlpool tub. Upstairs you will find 2 large bedrooms with ample closet space and a second full bath with walk in shower. Off of bath is third bedroom. Off the rear of the house is a large deck great for entertaining and a large fenced in private yard. Large shed also goes with property for plenty of storage space. This is home is a must see! Many updates have been done you will be able to move right in with out having to do a thing! Table in kitchen does not stay.

6. 2021-08-02
   status Under Contract- Do Not Show 988-char remark

   Show marketing remark (988 chars)

   Great 3 bedroom village home. Home is in finishing touches of complete remodel and will be fully finished prior to closing. Sun porch on front of home opens to foyer with open stair case to second floor, off of foyer to the left is large living room with hardwood floors to the right is the formal dining room. The rear of the home boasts a large eat in kitchen with lots of cupboard space , all appliances included. Off of kitchen is laundry area with washer and dryer included and the down stairs full bath with whirlpool tub. Upstairs you will find 2 large bedrooms with ample closet space and a second full bath with walk in shower. Off of bath is third bedroom. Off the rear of the house is a large deck great for entertaining and a large fenced in private yard. Large shed also goes with property for plenty of storage space. This is home is a must see! Many updates have been done you will be able to move right in with out having to do a thing! Table in kitchen does not stay.

7. 2021-07-23
   listed $109,900 Active 988-char remark

   Show marketing remark (988 chars)

   Great 3 bedroom village home. Home is in finishing touches of complete remodel and will be fully finished prior to closing. Sun porch on front of home opens to foyer with open stair case to second floor, off of foyer to the left is large living room with hardwood floors to the right is the formal dining room. The rear of the home boasts a large eat in kitchen with lots of cupboard space , all appliances included. Off of kitchen is laundry area with washer and dryer included and the down stairs full bath with whirlpool tub. Upstairs you will find 2 large bedrooms with ample closet space and a second full bath with walk in shower. Off of bath is third bedroom. Off the rear of the house is a large deck great for entertaining and a large fenced in private yard. Large shed also goes with property for plenty of storage space. This is home is a must see! Many updates have been done you will be able to move right in with out having to do a thing! Table in kitchen does not stay.

8. 2018-09-07
   soldstatus $65,000 Closed Sale or Rented 610-char remark

   Show marketing remark (610 chars)

   Don't miss out on this updated traditional home tucked in the Village of Franklinville. Updated kitchen, windows, electrical, siding and roof! Large fenced in yard for your privacy. Small Barn steps from your spacious deck would be a great workshop, storage for all of your toys or even a "she-shed. " This home features two full bathrooms, three bedrooms and plenty of storage throughout. Lower taxes, HOME WARRANTY, priced to sell and well maintained. This homeowner is MOTIVATED. Quick drive to Allegany State Park, Casino and everything Ellicottville has to offer! Don't wait make an offer today!

9. 2018-09-07
   soldstatus $64,999

   Show marketing remark (610 chars)

   Don't miss out on this updated traditional home tucked in the Village of Franklinville. Updated kitchen, windows, electrical, siding and roof! Large fenced in yard for your privacy. Small Barn steps from your spacious deck would be a great workshop, storage for all of your toys or even a "she-shed. " This home features two full bathrooms, three bedrooms and plenty of storage throughout. Lower taxes, HOME WARRANTY, priced to sell and well maintained. This homeowner is MOTIVATED. Quick drive to Allegany State Park, Casino and everything Ellicottville has to offer! Don't wait make an offer today!

10. 2018-08-06
    status Pending Sale 610-char remark

    Show marketing remark (610 chars)

    Don't miss out on this updated traditional home tucked in the Village of Franklinville. Updated kitchen, windows, electrical, siding and roof! Large fenced in yard for your privacy. Small Barn steps from your spacious deck would be a great workshop, storage for all of your toys or even a "she-shed. " This home features two full bathrooms, three bedrooms and plenty of storage throughout. Lower taxes, HOME WARRANTY, priced to sell and well maintained. This homeowner is MOTIVATED. Quick drive to Allegany State Park, Casino and everything Ellicottville has to offer! Don't wait make an offer today!

11. 2018-08-06
    status Under Contract- Do Not Show 610-char remark

    Show marketing remark (610 chars)

    Don't miss out on this updated traditional home tucked in the Village of Franklinville. Updated kitchen, windows, electrical, siding and roof! Large fenced in yard for your privacy. Small Barn steps from your spacious deck would be a great workshop, storage for all of your toys or even a "she-shed. " This home features two full bathrooms, three bedrooms and plenty of storage throughout. Lower taxes, HOME WARRANTY, priced to sell and well maintained. This homeowner is MOTIVATED. Quick drive to Allegany State Park, Casino and everything Ellicottville has to offer! Don't wait make an offer today!

12. 2018-07-14
    historical Continue to Show- Under Contract 610-char remark

    Show marketing remark (610 chars)

    Don't miss out on this updated traditional home tucked in the Village of Franklinville. Updated kitchen, windows, electrical, siding and roof! Large fenced in yard for your privacy. Small Barn steps from your spacious deck would be a great workshop, storage for all of your toys or even a "she-shed. " This home features two full bathrooms, three bedrooms and plenty of storage throughout. Lower taxes, HOME WARRANTY, priced to sell and well maintained. This homeowner is MOTIVATED. Quick drive to Allegany State Park, Casino and everything Ellicottville has to offer! Don't wait make an offer today!

13. 2018-06-26
    listed $68,000 Active 610-char remark

    Show marketing remark (610 chars)

    Don't miss out on this updated traditional home tucked in the Village of Franklinville. Updated kitchen, windows, electrical, siding and roof! Large fenced in yard for your privacy. Small Barn steps from your spacious deck would be a great workshop, storage for all of your toys or even a "she-shed. " This home features two full bathrooms, three bedrooms and plenty of storage throughout. Lower taxes, HOME WARRANTY, priced to sell and well maintained. This homeowner is MOTIVATED. Quick drive to Allegany State Park, Casino and everything Ellicottville has to offer! Don't wait make an offer today!

14. 2018-06-08
    historical
15. 2018-01-24
    status Active
16. 2017-12-05
    status Under Contract- Do Not Show
17. 2017-07-25
    status Active
18. 2017-07-24
    status Under Contract- Do Not Show
19. 2017-07-07
    listed $68,000 Active
20. 2017-04-16
    historical
21. 2016-10-16
    listed $69,900 Active
22. 2016-10-10
    historical
23. 2016-07-28
    price $69,900
24. 2016-04-14
    listed $75,000 Active
25. 2016-04-02
    historical
26. 2015-10-01
    listed $75,000 Active
27. 2015-09-20
    historical
28. 2015-05-13
    listed $75,000 Active
29. 2008-10-29
    soldstatus $68,000

ⓘ 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: $4,481 · $373/mo
• Projected year-2 tax: $4,481 · $373/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 7/10 Severe FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥88°F today · 18 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: $14,147
• − Mortgage interest: −$6,050
• − Property taxes: −$4,481
• − Insurance: −$1,206
• − Repairs & maintenance: −$1,132
• − Management: −$1,132
• − Depreciation: −$3,142
• Taxable loss: −$2,996
• Est. tax savings @ 24.0%: +$719
• After-tax cash flow: $-589/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: Franklinville Central School District
• NCES district ID: 3611490
• Math proficiency: 60% ▲ 11.00%
• Reading proficiency: 57% ▲ 16.00%
• Median HH income: $41,110
• Composite: 49.0/100
• National rank: #2068
• State rank: #281 of 590 in NY

Livability — Franklinville

• Score: 62/100
• State rank: #856
• US rank: #16514

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklinville, NY
• Population (ZIP): 4,071

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 (85%)
• Race & ethnicity: White 85% Two or more races 9% Hispanic / Latino 5% Native American 1%
• Common ancestry: Romanian 10% Iranian 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · German/W. Germanic 1%

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: ▲ 5.93%
• Current HPI: 305.4492
• 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

+58.8% since first listed

29 events — show timeline

• 2026-03-28 Pending — UNYREIS
• 2026-02-23 Price Changed $108,000 UNYREIS
• 2025-10-08 Listed $120,000 UNYREIS
• 2021-11-05 Sold (Public Records) $115,000 Public Records
• 2021-11-05 Sold (MLS) $115,000 WNYREIS
• 2021-08-02 Pending — WNYREIS
• 2021-07-23 Listed $109,900 WNYREIS
• 2018-09-07 Sold (Public Records) $64,999 Public Records
• 2018-09-07 Sold (MLS) $65,000 WNYREIS
• 2018-08-06 Pending — WNYREIS
• 2018-08-06 Pending — WNYREIS
• 2018-07-14 Contingent — WNYREIS
• 2018-06-26 Listed $68,000 WNYREIS
• 2018-06-08 Listing Removed — WNYREIS
• 2018-01-24 Relisted — WNYREIS
• 2017-12-05 Pending — WNYREIS
• 2017-07-25 Relisted — WNYREIS
• 2017-07-24 Pending — WNYREIS
• 2017-07-07 Listed $68,000 WNYREIS
• 2017-04-16 Listing Removed — WNYREIS
• 2016-10-16 Listed $69,900 WNYREIS
• 2016-10-10 Listing Removed — WNYREIS
• 2016-07-28 Price Changed $69,900 WNYREIS
• 2016-04-14 Listed $75,000 WNYREIS
• 2016-04-02 Listing Removed — WNYREIS
• 2015-10-01 Listed $75,000 WNYREIS
• 2015-09-20 Listing Removed — WNYREIS
• 2015-05-13 Listed $75,000 WNYREIS
• 2008-10-29 Sold (Public Records) $68,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $4,481 · +10.9% YoY. Source: county tax records.