35 School St · Delevan, NY 14042

$215,000

4 bd · 1.5 ba · 1,700 sqft · SingleFamily · 1 Days on market

Built 1920 9,240 sqft lot $126/sqft · 18% below area Est $262k · 18% under

---

Why this score? — see what drove the D 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 +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +5.8/30.0
• Schools +4.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.0/10.0
• DSCR +0.2/10.0

Listing remarks

Step into timeless character and craftsmanship with this stunning early 19th century craftsman-style home. This property beautifully showcases original natural woodwork throughout, including natural wood staircase leading to 3 bedrooms, Newer renovated full bath, and Stairs to Full finished offering versatile additional living space-perfect for a home office, studio, or guest retreat. The first floor features a primary bedroom with half bath, lovely formal dining room, and living room with fireplace fueled by gas for cozy, cool weather nights. The kitchen comes with appliances and has entrance to side foyer/entrance, leading to full basement. The basement makes for additional storage and la

Key facts

• Natural woodwork
• Full finished
• Formal dining room

Tags

• NATURAL WOODWORK
• NATURAL WOOD STAIRCASE
• FULL FINISHED
• PRIMARY BEDROOM
• FORMAL DINING ROOM
• LIVING ROOM WITH FIREPLACE

Property features AI

Exterior

• Parking: No garage; Storage and workshop in garage; Garage door opener
• Utilities: High-speed internet available; Public water connected; Septic tank
• Home design: Two-story home; Existing construction; Shingle roof; Stone foundation
• Construction: Shake siding; Wood siding; Built previously (existing)
• Exterior features: Gravel driveway; Barn(s) and outbuilding

Interior

• Kitchen: Free-standing range; Oven; Refrigerator
• Bedrooms: One bedroom on the main level
• Flooring: Hardwood; Vinyl; Varies
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Gas heating; Forced air
• Interior features: Leaded glass windows; Attic; Separate/formal dining room; Entrance foyer; Separate/formal living room; Natural woodwork
• Laundry & utility: Washer and dryer; Laundry located in the basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-431 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (35.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (39.9% below list).
• Recommended offer: $129k (39.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#861 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing A-; Watch: amenities F, commute F, employment D-.
• Yorkshire-Pioneer Central School District (town): math 50% / reading 54% proficiency, ranked #358 of 590 in NY (top 61%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Delevan Elementary School (math 47% / reading 52%, grade D, #1,085 of 2,108 statewide, top 56%, 355 students, 51% FRL); Pioneer Middle School (math 35% / reading 52%, grade D, #366 of 729 statewide, top 51%, 662 students, 52% FRL); Pioneer Senior High School (math 98% / reading 95%, grade A+, #59 of 1,100 statewide, top 6%, 658 students, 42% FRL).
• Market conditions: 22 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 $23k of equity ($1k loan paydown + $22k 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.
• By year 2, 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 $129,300 (39.9% 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. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.60% ✗
• Cap rate: 3.89%
• Cash-on-cash: -8.59%
• DSCR: 0.62
• GRM: 13.9

CMA / ARV

• ARV (median comp): $262,019
• List price: $215,000
• Delta: -17.94%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Cobb Ave	0.19mi	4/2.0	1,660 (-2%)	10mo	$240,000	$145	77
56 Delevan Ave	0.40mi	3/2.0 (-1)	1,536 (-10%)	6mo	$299,900	$195	53
11155 Weaver Rd	0.73mi	4/2.0	1,932 (+14%)	20mo	$214,000	$111	24

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

Projected returns pro-forma

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

5-year hold

• IRR: 18.2%
• Equity multiple: 2.49×
• Total profit: $89,633
• Equity at exit: $193,689

10-year hold

• IRR: 17.0%
• Equity multiple: 5.74×
• Total profit: $285,548
• Equity at exit: $417,698

Cash invested: $60,200 (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 14042

• Home prices YoY: 8.2%
• Active inventory: 22
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $1,293 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$236 /mo · $2,827/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $-431

Break-even live

Break-even rent $1,839

Max offer price $138,834

Occupancy floor —

Sensitivity live

Price	-10% $-309	-5% $-370	+0% $-431	+5% $-492	+10% $-553
Rent	-10% $-533	-5% $-482	+0% $-431	+5% $-380	+10% $-329
Rate	-1.0pp $-323	-0.5pp $-376	base $-431	+0.5pp $-487	+1.0pp $-544

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-04
   status Pending 1033-char remark
2. 2026-05-02
   listed $215,000 Active 1033-char remark

ⓘ 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: $2,827 · $236/mo
• Projected year-2 tax: $3,230 · $269/mo
• Expected delta: +$403/yr (+$34/mo · 14.3%)

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

Taxation est. · year 1

• Rental income: $15,516
• − Mortgage interest: −$12,043
• − Property taxes: −$2,827
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,241
• − Management: −$1,241
• − Depreciation: −$6,255
• Taxable loss: −$9,166
• Est. tax savings @ 24.0%: +$2,200
• After-tax cash flow: $-2,974/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: Yorkshire-Pioneer Central School District
• NCES district ID: 3608970
• Math proficiency: 50% ▼ -17.00%
• Reading proficiency: 54% ▼ -1.00%
• Median HH income: $45,735
• Composite: 44.02/100
• National rank: #2885
• State rank: #358 of 590 in NY

Livability — Delevan

• Score: 62/100
• State rank: #861
• US rank: #16623

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Delevan, NY
• Population (ZIP): 4,207

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 (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Romanian 11% Italian 3% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

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: ▲ 19.20%
• Current HPI: 254.5285
• 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

2 events — show timeline

• 2026-05-04 Pending — WNYREIS
• 2026-05-02 Listed $215,000 WNYREIS

Property tax history

+2.8%/yr

Latest (2025): $2,827 · +0.6% YoY. Source: county tax records.