3142 Algerine St · Gorham, NY 14561

$155,000

2 bd · 1.0 ba · 1,188 sqft · SingleFamily public records · 1 Days on market

Built 1920 1.90 ac lot

---

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).

• Cash flow +18.5/30.0
• ARV discount +7.5/15.0
• Appreciation +7.4/10.0
• DSCR +5.8/10.0
• 1% rule +5.2/10.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Short Sale. Seller has designed Buyer

Key facts

• 1.9 acre lot
• 2 garage spots
• Built 1920

Property features AI

Exterior

• Parking: Attached garage; 2 garage spaces
• Utilities: Private well water; Septic tank
• Home design: 2 stories; Resale property; Shingle roof; Vinyl siding
• Construction: Stone foundation; Built previously (existing structure)
• Exterior features: Gravel driveway; Rectangular lot; Main thoroughfare frontage; Lot dimensions approximately 155 x 537 feet

Interior

• Kitchen: Propane water heater
• Bedrooms: Total of 4 rooms (includes bedrooms and other rooms)
• Flooring: Carpet; Laminate; Varied flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Propane heating; Central air conditioning
• Interior features: Dining area; Generator; Water purifier (owned)
• Laundry & utility: Laundry in basement; Sump pump in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $147 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).

Location & tenants

• Location reads 63/100 on livability (#796 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-, cost of living A-; Watch: schools C-, crime F, amenities F.
• Gorham-Middlesex Central School District (Marcus Whitman) (rural): math 36% / reading 42% proficiency, ranked #519 of 590 in NY (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 active listings in the ZIP; 284 units permitted in Ontario County in 2024 (69 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($1k loan paydown + $7k appreciation (4.8% local appreciation)).
• Ontario County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (4.8% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $155,000

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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. 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.
5. 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.
6. 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: 1.02% ✓
• Cap rate: 7.43%
• Cash-on-cash: 4.05%
• DSCR: 1.18
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.79% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.8%
• Equity multiple: 2.00×
• Total profit: $43,267
• Equity at exit: $85,884

10-year hold

• IRR: 16.4%
• Equity multiple: 3.85×
• Total profit: $123,733
• Equity at exit: $146,634

Cash invested: $43,400 (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 14561

• Home prices YoY: 1.7%
• Active inventory: 8
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,585 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$228 /mo · $2,734/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $147

Break-even live

Break-even rent $1,399

Max offer price $155,000

Occupancy floor 86%

Sensitivity live

Price	-10% $234	-5% $190	+0% $147	+5% $103	+10% $59
Rent	-10% $21	-5% $84	+0% $147	+5% $209	+10% $272
Rate	-1.0pp $225	-0.5pp $186	base $147	+0.5pp $106	+1.0pp $66

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-05-26
   listed $155,000 Active

ⓘ 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: $2,734 · $228/mo
• Projected year-2 tax: $2,734 · $228/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 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,015
• − Mortgage interest: −$8,682
• − Property taxes: −$2,734
• − Insurance: −$775
• − Repairs & maintenance: −$1,521
• − Management: −$1,521
• − Depreciation: −$4,509
• Taxable loss: −$728
• Est. tax savings @ 24.0%: +$175
• After-tax cash flow: $1,933/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: Gorham-Middlesex Central School District (Marcus Whitman)
• NCES district ID: 3612300
• Math proficiency: 36% ▼ -7.00%
• Reading proficiency: 42% ▲ 2.00%
• Median HH income: $57,088
• Composite: 34.33/100
• National rank: #5233
• State rank: #519 of 590 in NY

Livability — Gorham

• Score: 63/100
• State rank: #796
• US rank: #15369

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,198

Population outlook (Ontario County) Hauer SSP2

• Today (2025): 111,230 people
• By 2030: 111,401 · +0.2%
• By 2040: 109,535 · -1.5%
• By 2050: 104,895 · -5.7%
• By 2075: 92,999 · -16.4%
• By 2100: 73,723 · -33.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Romanian 2% Lithuanian 2% Portuguese 2%
• Foreign-born: 0%
• Languages at home: 86% English-only · German/W. Germanic 13%

Political lean MEDSL · Ontario

• 2024 margin: Toss-up / Even · D 49.4% · R 50.6%
• 2008→2024 swing: -1.0pp toward R · 2008: -0.1pp · 2024: -1.2pp
• All cycles: 2024: R+1.2 2020: R+0.0 2016: R+8.6 2012: R+1.6 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.79%
• Current HPI: 292.3642
• 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

1 event — show timeline

• 2026-05-26 Listed $155,000 UNYREIS

Property tax history

+5.8%/yr

Latest (2025): $2,734 · -0.6% YoY. Source: county tax records.