16-18 River St · Canaseraga, NY 14822

$69,900

2 bd · 1.0 ba · 1,410 sqft · Other public records · 1 Days on market

Built 1920 0.43 ac lot

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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
• Appreciation +9.5/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Great investment opportunity! This unique property features two homes on one lot, offering excellent potential for owner-occupants, investors, or multi-generational living. The primary home offers 3 bedrooms and 1 bathroom and is ready for your updates and improvements. The second home features 1 bedroom and 1 bathroom and is currently tenant-occupied, providing immediate rental income. Live in one home while renting the other, or add both units to your investment portfolio. Property is being sold 'as-is'

Key facts

• 0.43 acre lot
• 2 parking spots
• Built 1920

Property features AI

Finance

• Other: Two total residential units; Two separate gas meters; Two separate electric meters; Lot is approximately 0.43 acres with irregular dimensions (88 x 219) and located on a city street; listed as in a flood zone
• Financial info: Owner pays water for rental units; One unit reported rent of $500 (month-to-month); Operating expenses include insurance, maintenance, and water/sewer

Exterior

• Parking: Gravel parking; Two or more parking spaces
• Utilities: Public water connected; Sewer connected
• Home design: Single-story building; Resale property
• Construction: Composite siding; Vinyl siding; Asphalt and metal roofing; Slab foundation; Existing (previously built) structure
• Exterior features: Owned and leased propane tanks; Covered porch

Interior

• Kitchen: Eat-in kitchens in both units
• Bedrooms: One unit with 3 bedrooms; One unit with 1 bedroom
• Flooring: Laminate; Vinyl; Varies
• Bathrooms: Two full bathrooms total (each unit has 1 full bath)
• Heating & cooling: Forced air heating; Propane heating
• Interior features: Crawl space basement; Varied flooring including laminate and vinyl
• Laundry & utility: Electric water heater; Propane water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $70k.

Deal economics

• At list price, monthly cash flow is $325 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).

Location & tenants

• Location reads 61/100 on livability (#937 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D, crime F, amenities F.
• Canaseraga Central School District (rural): math 60% / reading 45% proficiency, ranked #430 of 755 in NY (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 13 active listings in the ZIP; 87 units permitted in Allegany County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($483 loan paydown + $6k appreciation (8.9% local appreciation)).
• Allegany County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.9% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $12k; list at $70k implies a 482% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; flood insurance adds $125/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $69,900

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.88% ✓
• Cap rate: 14.02%
• Cash-on-cash: 27.61%
• DSCR: 2.23
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.4%
• Equity multiple: 3.76×
• Total profit: $53,986
• Equity at exit: $57,707

10-year hold

• IRR: 32.8%
• Equity multiple: 8.26×
• Total profit: $142,029
• Equity at exit: $119,240

Cash invested: $19,572 (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 14822

• Home prices YoY: 3.6%
• Active inventory: 13
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,317 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$195 /mo · $2,334/yr
• Insurance: −$29
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $325

Break-even live

Break-even rent $906

Max offer price $69,900

Occupancy floor 70%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-18
   remarks 510-char remark
2. 2026-06-18
   listed $69,900 Active 1 DOM

ⓘ 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: $2,334 · $195/mo
• Projected year-2 tax: $2,334 · $195/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 A · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 17 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: $15,805
• − Mortgage interest: −$3,915
• − Property taxes: −$2,334
• − Insurance: −$1,852
• − Repairs & maintenance: −$1,264
• − Management: −$1,264
• − Depreciation: −$2,033
• Taxable income: $3,141
• Est. tax owed @ 24.0%: −$754
• After-tax cash flow: $3,147/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: Canaseraga Central School District
• NCES district ID: 3606360
• Math proficiency: 60% ▲ 5.00%
• Reading proficiency: 45% ▼ -5.00%
• Median HH income: $42,247
• Composite: 46.07/100
• National rank: #5487
• State rank: #430 of 755 in NY

Livability — Canaseraga

• Score: 61/100
• State rank: #937
• US rank: #18234

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Canaseraga, NY
• Population (ZIP): 826

Population outlook (Allegany County) Hauer SSP2

• Today (2025): 45,362 people
• By 2030: 43,078 · -5.0%
• By 2040: 38,031 · -16.2%
• By 2050: 33,634 · -25.9%
• By 2075: 25,285 · -44.3%
• By 2100: 18,902 · -58.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 6% Two or more races 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 1%
• Common ancestry: Slovak 5% Iranian 4% Lithuanian 2%
• Foreign-born: 3%
• Languages at home: 97% English-only · German/W. Germanic 1%

Political lean MEDSL · Allegany

• 2024 margin: Solid R (+43.2) · D 28.4% · R 71.6%
• 2008→2024 swing: -21.5pp toward R · 2008: -21.7pp · 2024: -43.2pp
• All cycles: 2024: R+43.2 2020: R+38.9 2016: R+42.3 2012: R+25.3 2008: R+21.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.95%
• Current HPI: 254.8905
• 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

+482.5% since first listed

2 events — show timeline

• 2026-06-18 Listed $69,900 UNYREIS
• 1999-10-20 Sold (Public Records) $12,000 Public Records

Property tax history

+7.0%/yr

Latest (2025): $2,334 · +7.9% YoY. Source: county tax records.