111 W Main St · Allegany, NY 14706

$132,900

28 bd · 16.0 ba · 2,856 sqft · MultiFamily public records · 87 Days on market

Built 1950 2,875 sqft lot $47/sqft · 121% above area

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Excellent investment opportunity in the heart of Allegany, NY, just minutes from St. Bonaventure University! This well-located 4-unit property offers strong rental potential, ideal for student housing or long-term tenants. Each unit provides functional living space with separate entrances, making it attractive for a variety of rental strategies. Situated in a high-demand rental area, this property benefits from consistent occupancy driven by proximity to the university, local amenities, and downtown Allegany. Whether you're looking to expand your portfolio or start investing, this property offers great income potential with upside through improved rents or updates. Don’t miss your chance to own a multi-unit in a prime location!

Key facts

• Consistent occupancy
• Separate entrances
• 2,875 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• STRONG RENTAL POTENTIAL
• FUNCTIONAL LIVING SPACE
• SEPARATE ENTRANCES
• HIGH-DEMAND RENTAL AREA
• CONSISTENT OCCUPANCY

What this means for you Summary

Snapshot

• This is a 4 × 7-bed/4.0-bath units multifamily listed at $133k.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $599/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $133k).
• Recommended offer: $125k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#395 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, amenities F, commute F.
• Allegany-Limestone Central School District (rural): math 55% / reading 67% proficiency, ranked #233 of 590 in NY (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 47 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 $14k of equity ($919 loan paydown + $13k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $37k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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 $80k; list at $133k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,926 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% 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 1950 — 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. 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?
8. 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.
9. 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.
10. 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: 3.20% ✓
• Cap rate: 27.91%
• Cash-on-cash: 77.22%
• DSCR: 4.44
• GRM: 2.6

CMA / ARV

• ARV (median comp): $60,000
• List price: $132,900
• Delta: 121.50%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 87.5%
• Equity multiple: 7.05×
• Total profit: $224,980
• Equity at exit: $119,727

10-year hold

• IRR: 82.1%
• Equity multiple: 15.59×
• Total profit: $542,784
• Equity at exit: $258,195

Cash invested: $37,212 (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 14706

• Home prices YoY: 10.5%
• Active inventory: 47
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $4,253 medium
• Mortgage (P&I): −$697
• Tax from tax record: −$213 /mo · $2,557/yr
• Insurance: −$55
• HOA: −$0
• Vacancy / Maint / Mgmt: −$893
• Net cashflow: $2,394

Break-even live

Break-even rent $1,222

Max offer price $132,900

Occupancy floor 39%

Sensitivity live

Price	-10% $2,470	-5% $2,432	+0% $2,394	+5% $2,357	+10% $2,319
Rent	-10% $2,058	-5% $2,226	+0% $2,394	+5% $2,562	+10% $2,730
Rate	-1.0pp $2,461	-0.5pp $2,428	base $2,394	+0.5pp $2,360	+1.0pp $2,325

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

Units	Beds	Baths	Est. rent
▸ 4× units	7	4	$4,252
Total (4 units)			$4,253

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: $33,225
• Closing costs: $3,987
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   status $132,900 Pending 87 DOM
2. 2026-06-18
   days on market $132,900 Active 87 DOM
3. 2026-06-17
   days on market $132,900 Active 86 DOM
4. 2026-06-16
   days on market $132,900 Active 85 DOM
5. 2026-06-15
   days on market $132,900 Active 84 DOM
6. 2026-06-13
   days on market $132,900 Active 82 DOM
7. 2026-06-12
   days on market $132,900 Active 81 DOM
8. 2026-06-09
   days on market $132,900 Active 78 DOM
9. 2026-06-08
   days on market $132,900 Active 77 DOM
10. 2026-06-07
    days on market $132,900 Active 76 DOM
11. 2026-06-07
    days on market $132,900 Active 75 DOM
12. 2026-06-04
    days on market $132,900 Active 72 DOM
13. 2026-06-02
    days on market $132,900 Active 71 DOM
14. 2026-06-01
    days on market $132,900 Active 70 DOM
15. 2026-05-31
    days on market $132,900 Active 69 DOM
16. 2026-03-23
    listed $132,900 Active 743-char remark

    Show marketing remark (743 chars)

    Excellent investment opportunity in the heart of Allegany, NY, just minutes from St. Bonaventure University! This well-located 4-unit property offers strong rental potential, ideal for student housing or long-term tenants. Each unit provides functional living space with separate entrances, making it attractive for a variety of rental strategies. Situated in a high-demand rental area, this property benefits from consistent occupancy driven by proximity to the university, local amenities, and downtown Allegany. Whether you're looking to expand your portfolio or start investing, this property offers great income potential with upside through improved rents or updates. Don’t miss your chance to own a multi-unit in a prime location!

17. 2023-07-24
    soldstatus $80,000
18. 2017-03-24
    soldstatus $66,667
19. 2016-10-25
    historical
20. 2016-09-07
    price $84,900
21. 2016-07-08
    listed $89,900 Active
22. 2013-12-24
    soldstatus $49,000
23. 2000-09-19
    soldstatus $38,000

ⓘ 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: $2,557 · $213/mo
• Projected year-2 tax: $2,557 · $213/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 8 d/yr ≥90°F today · 18 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: $51,036
• − Mortgage interest: −$7,444
• − Property taxes: −$2,557
• − Insurance: −$664
• − Repairs & maintenance: −$4,083
• − Management: −$4,083
• − Depreciation: −$3,866
• Taxable income: $28,338
• Est. tax owed @ 24.0%: −$6,801
• After-tax cash flow: $21,933/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: Allegany-Limestone Central School District
• NCES district ID: 3600015
• Math proficiency: 55% ▼ -5.00%
• Reading proficiency: 67% ▲ 17.00%
• Median HH income: $47,850
• Composite: 51.66/100
• National rank: #1696
• State rank: #233 of 590 in NY

Livability — Allegany

• Score: 71/100
• State rank: #395
• US rank: #6843

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Allegany, NY
• Population (ZIP): 6,118

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 (88%)
• Race & ethnicity: White 88% Two or more races 5% Black 3% Native American 2% Asian 2%
• Common ancestry: Romanian 7% Slovak 3% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Other Indo-European 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: ▲ 24.72%
• Current HPI: 259.9141
• 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

+249.7% since first listed

8 events — show timeline

• 2026-03-23 Listed $132,900 UNYREIS
• 2023-07-24 Sold (Public Records) $80,000 Public Records
• 2017-03-24 Sold (Public Records) $66,667 Public Records
• 2016-10-25 Listing Removed — WNYREIS
• 2016-09-07 Price Changed $84,900 WNYREIS
• 2016-07-08 Listed $89,900 WNYREIS
• 2013-12-24 Sold (Public Records) $49,000 Public Records
• 2000-09-19 Sold (Public Records) $38,000 Public Records

Property tax history

-0.7%/yr

Latest (2025): $2,557 · +0.4% YoY. Source: county tax records.