44 S Main St · Salamanca, NY 14779

$79,900

5 bd · 2.5 ba · 3,344 sqft · SingleFamily public records · 68 Days on market

Built 1900 0.51 ac lot $24/sqft · 53% below area ↓ 11% since listing

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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
• 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

Listing remarks MLS

How many people have dreamed of living in the Dowd House Mansion?!?! Step into the charm and grandeur of this historic Greek Revival home, circa 1880s, offering three stories of incredible character and rich local lore! Previously known as the Dowd Mansion, according to the Salamanca Historical Society, Judge Dowd hosted several political notables including President Franklin D. Roosevelt and his wife Eleanor! The Roosevelt's actually slept at the Dowd House! In 1886, it became the first house in Salamanca, NY to have a bathtub! This one-of-a-kind property is filled with timeless appeal and remarkable potential. While it is in need of restoration and cosmetic updating, the home appears to retain solid bones, and major improvements have already begun, including updated plumbing and a renovated third floor efficiency apartment. Whether you dream of restoring it to its original elegance, creating a stunning private residence, or transforming it into a charming bed and breakfast, this is a rare opportunity for a buyer with vision, passion, and appreciation for historic homes! Priced to sell, this diamond in the rough is ready for its next chapter! * Photos are from when home was previously listed * .

Key facts

• Updated plumbing
• 0.51 acre lot
• Garage

Tags

• HISTORIC GREEK REVIVAL HOME
• UPDATED PLUMBING

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $75k (6.0% 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 $4k of equity ($552 loan paydown + $4k 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, 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 68 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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.

Risks & watch-outs

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

Recommended offer $75,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 2.57% ✓
• Cap rate: 22.91%
• Cash-on-cash: 59.33%
• DSCR: 3.64
• GRM: 3.2

CMA / ARV

• ARV (median comp): $168,464
• List price: $79,900
• Delta: -52.57%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 65.8%
• Equity multiple: 4.88×
• Total profit: $86,725
• Equity at exit: $42,987

10-year hold

• IRR: 64.1%
• Equity multiple: 10.05×
• Total profit: $202,369
• Equity at exit: $72,362

Cash invested: $22,372 (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: 3.2×

Monthly cashflow live

• Estimated rent: $2,055 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$65 /mo · $781/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $1,106

Break-even live

Break-even rent $655

Max offer price $79,900

Occupancy floor 41%

Sensitivity live

Price	-10% $1,151	-5% $1,129	+0% $1,106	+5% $1,084	+10% $1,061
Rent	-10% $944	-5% $1,025	+0% $1,106	+5% $1,187	+10% $1,269
Rate	-1.0pp $1,146	-0.5pp $1,127	base $1,106	+0.5pp $1,085	+1.0pp $1,064

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $79,900 Active 68 DOM
2. 2026-06-18
   days on market $79,900 Active 66 DOM
3. 2026-06-17
   days on market $79,900 Active 65 DOM
4. 2026-06-16
   days on market $79,900 Active 64 DOM
5. 2026-06-15
   days on market $79,900 Active 63 DOM
6. 2026-06-13
   days on market $79,900 Active 61 DOM
7. 2026-06-12
   days on market $79,900 Active 60 DOM
8. 2026-06-09
   days on market $79,900 Active 57 DOM
9. 2026-06-08
   days on market $79,900 Active 56 DOM
10. 2026-06-07
    days on market $79,900 Active 55 DOM
11. 2026-06-05
    days on market $79,900 Active 53 DOM
12. 2026-06-04
    days on market $79,900 Active 51 DOM
13. 2026-06-02
    days on market $79,900 Active 50 DOM
14. 2026-06-01
    days on market $79,900 Active 49 DOM
15. 2026-05-31
    days on market $79,900 Active 48 DOM
16. 2026-05-01
    status Active 1222-char remark

    Show marketing remark (1222 chars)

    How many people have dreamed of living in the Dowd House Mansion?!?! Step into the charm and grandeur of this historic Greek Revival home, circa 1880s, offering three stories of incredible character and rich local lore! Previously known as the Dowd Mansion, according to the Salamanca Historical Society, Judge Dowd hosted several political notables including President Franklin D. Roosevelt and his wife Eleanor! The Roosevelt's actually slept at the Dowd House! In 1886, it became the first house in Salamanca, NY to have a bathtub! This one-of-a-kind property is filled with timeless appeal and remarkable potential. While it is in need of restoration and cosmetic updating, the home appears to retain solid bones, and major improvements have already begun, including updated plumbing and a renovated third floor efficiency apartment. Whether you dream of restoring it to its original elegance, creating a stunning private residence, or transforming it into a charming bed and breakfast, this is a rare opportunity for a buyer with vision, passion, and appreciation for historic homes! Priced to sell, this diamond in the rough is ready for its next chapter! * Photos are from when home was previously listed * .

17. 2026-04-28
    historical Active Under Contract 1222-char remark

    Show marketing remark (1222 chars)

    How many people have dreamed of living in the Dowd House Mansion?!?! Step into the charm and grandeur of this historic Greek Revival home, circa 1880s, offering three stories of incredible character and rich local lore! Previously known as the Dowd Mansion, according to the Salamanca Historical Society, Judge Dowd hosted several political notables including President Franklin D. Roosevelt and his wife Eleanor! The Roosevelt's actually slept at the Dowd House! In 1886, it became the first house in Salamanca, NY to have a bathtub! This one-of-a-kind property is filled with timeless appeal and remarkable potential. While it is in need of restoration and cosmetic updating, the home appears to retain solid bones, and major improvements have already begun, including updated plumbing and a renovated third floor efficiency apartment. Whether you dream of restoring it to its original elegance, creating a stunning private residence, or transforming it into a charming bed and breakfast, this is a rare opportunity for a buyer with vision, passion, and appreciation for historic homes! Priced to sell, this diamond in the rough is ready for its next chapter! * Photos are from when home was previously listed * .

18. 2026-04-13
    listed $79,900 Active 1222-char remark

    Show marketing remark (1222 chars)

    How many people have dreamed of living in the Dowd House Mansion?!?! Step into the charm and grandeur of this historic Greek Revival home, circa 1880s, offering three stories of incredible character and rich local lore! Previously known as the Dowd Mansion, according to the Salamanca Historical Society, Judge Dowd hosted several political notables including President Franklin D. Roosevelt and his wife Eleanor! The Roosevelt's actually slept at the Dowd House! In 1886, it became the first house in Salamanca, NY to have a bathtub! This one-of-a-kind property is filled with timeless appeal and remarkable potential. While it is in need of restoration and cosmetic updating, the home appears to retain solid bones, and major improvements have already begun, including updated plumbing and a renovated third floor efficiency apartment. Whether you dream of restoring it to its original elegance, creating a stunning private residence, or transforming it into a charming bed and breakfast, this is a rare opportunity for a buyer with vision, passion, and appreciation for historic homes! Priced to sell, this diamond in the rough is ready for its next chapter! * Photos are from when home was previously listed * .

19. 2021-01-29
    historical
20. 2021-01-24
    status Active
21. 2020-11-24
    historical
22. 2020-08-06
    listed $89,500 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: $781 · $65/mo
• Projected year-2 tax: $1,066 · $89/mo
• Expected delta: +$284/yr (+$24/mo · 36.4%)

ⓘ 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 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: $24,662
• − Mortgage interest: −$4,476
• − Property taxes: −$781
• − Insurance: −$400
• − Repairs & maintenance: −$1,973
• − Management: −$1,973
• − Depreciation: −$2,324
• Taxable income: $12,735
• Est. tax owed @ 24.0%: −$3,056
• After-tax cash flow: $10,218/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

-10.7% since first listed

7 events — show timeline

• 2026-05-01 Relisted — WNYREIS
• 2026-04-28 Contingent — WNYREIS
• 2026-04-13 Listed $79,900 WNYREIS
• 2021-01-29 Listing Removed — WNYREIS
• 2021-01-24 Relisted — WNYREIS
• 2020-11-24 Listing Removed — WNYREIS
• 2020-08-06 Listed $89,500 WNYREIS

Property tax history

+1.9%/yr

Latest (2025): $781 · +15.1% YoY. Source: county tax records.