12 Norton St · Belmont, NY 14813

$45,900

4 bd · 2.0 ba · 1,400 sqft · SingleFamily public records · 33 Days on market

Built 1915 0.25 ac lot $33/sqft · 67% below area

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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 +8.4/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity awaits with this spacious 2-story home located on a quiet street in the Village of Belmont NY, Allegany County. Offering 4 bedrooms, including one conveniently located on the first floor and three additional bedrooms upstairs, this property has plenty of space and potential for the right buyer.   The home features a full bathroom on the main level, with room and potential to add a second full bath upstairs.   A large attached 2-car garage provides excellent storage and workspace options.   Situated on 0.25 acres, the property also includes a great backyard perfect for outdoor enjoyment, gardening, and entertaining. Conveniently located within the Genesee Valley Sc

Key facts

• 2 story home
• Great backyard
• 0.25 acre lot

Tags

• 2 STORY HOME
• FULL BATHROOM ON MAIN LEVEL
• GREAT BACKYARD
• LOCATED ON A QUIET STREET

Property features AI

Exterior

• Parking: Attached garage; 2 garage spaces
• Utilities: Public water (connected); Sewer connected
• Home design: 2-story home; Existing construction
• Construction: Frame construction with wood siding; Stone foundation; Asphalt roof
• Exterior features: Concrete driveway; Rectangular residential lot with 50 x 200 dimensions; City street frontage

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 1 main-level bedroom
• Flooring: Hardwood; Varied flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas forced-air heating
• Interior features: Eat-in kitchen; Other interior features (see remarks); Crawl space/partial basement
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $46k.

Deal economics

• At list price, monthly cash flow is $599 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $46k).
• Recommended offer: $45k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#401 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Genesee Valley Central School District (rural): math 52% / reading 50% proficiency, ranked #453 of 755 in NY (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 19 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 $3k of equity ($317 loan paydown + $3k appreciation (6.8% 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 (6.8% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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: property tax is 3.8% of price; built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $44,523 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.77% ✓
• Cap rate: 21.96%
• Cash-on-cash: 55.96%
• DSCR: 3.49
• GRM: 3.0

CMA / ARV

• ARV (median comp): $137,624
• List price: $45,900
• Delta: -66.65%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14 Willets Ave	0.09mi	3/2.0 (-1)	1,530 (+9%)	11mo	$139,900	$91	66
27 Willard St	0.35mi	3/1.0 (-1)	1,272 (-9%)	5mo	$72,000	$57	56
7 Trianna St	0.43mi	3/1.5 (-1)	1,272 (-9%)	21mo	$79,900	$63	40

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

Projected returns pro-forma

6.77% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 65.2%
• Equity multiple: 5.17×
• Total profit: $53,625
• Equity at exit: $31,115

10-year hold

• IRR: 61.5%
• Equity multiple: 10.92×
• Total profit: $127,530
• Equity at exit: $58,488

Cash invested: $12,852 (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 14813

• Home prices YoY: 2.6%
• Active inventory: 19
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,272 medium
• Mortgage (P&I): −$241
• Tax from tax record: −$146 /mo · $1,747/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $599

Break-even live

Break-even rent $513

Max offer price $45,900

Occupancy floor 48%

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: $11,475
• Closing costs: $1,377
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $45,900 Active 33 DOM
2. 2026-06-17
   days on market $45,900 Active 32 DOM
3. 2026-06-16
   days on market $45,900 Active 31 DOM
4. 2026-06-15
   days on market $45,900 Active 30 DOM
5. 2026-06-13
   days on market $45,900 Active 28 DOM
6. 2026-06-12
   status $45,900 Active 27 DOM
7. 2026-06-09
   status $45,900 Pending 27 DOM
8. 2026-06-08
   days on market $45,900 Active 27 DOM
9. 2026-06-07
   days on market $45,900 Active 26 DOM
10. 2026-06-05
    days on market $45,900 Active 24 DOM
11. 2026-06-04
    days on market $45,900 Active 22 DOM
12. 2026-06-02
    days on market $45,900 Active 21 DOM
13. 2026-06-01
    days on market $45,900 Active 20 DOM
14. 2026-05-31
    days on market $45,900 Active 19 DOM
15. 2026-05-12
    listed $45,900 Active 888-char remark
16. 2015-05-19
    listed $38,900

ⓘ 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: $1,747 · $146/mo
• Projected year-2 tax: $1,747 · $146/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 5/10 Major FEMA zone X · 47% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 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: $15,262
• − Mortgage interest: −$2,571
• − Property taxes: −$1,747
• − Insurance: −$230
• − Repairs & maintenance: −$1,221
• − Management: −$1,221
• − Depreciation: −$1,335
• Taxable income: $6,938
• Est. tax owed @ 24.0%: −$1,665
• After-tax cash flow: $5,527/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: Genesee Valley Central School District
• NCES district ID: 3600017
• Math proficiency: 52% ▲ 5.00%
• Reading proficiency: 50% ▲ 1.00%
• Median HH income: $43,704
• Composite: 45.0/100
• National rank: #5858
• State rank: #453 of 755 in NY

Livability — Belmont

• Score: 71/100
• State rank: #401
• US rank: #6959

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Belmont, NY
• Population (ZIP): 2,465

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 (97%)
• Race & ethnicity: White 97% Black 2%
• Common ancestry: Lithuanian 4% Romanian 4% Slovak 2%
• Foreign-born: 0%

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: ▲ 6.77%
• Current HPI: 271.7193
• 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

+18.0% since first listed

4 events — show timeline

• 2026-06-12 Relisted — CNYIS
• 2026-06-08 Pending — CNYIS
• 2026-05-12 Listed $45,900 CNYIS
• 2015-05-19 Listed $38,900 UNYREIS

Property tax history

-1.7%/yr

Latest (2025): $1,747 · +0.6% YoY. Source: county tax records.