122 W Main St · Fillmore, NY 14735

$39,900

2 bd · 1.0 ba · 1,526 sqft · SingleFamily public records · 461 Days on market

Built 1900 0.30 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 +7.7/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Two bedroom one bathroom house for sale in Fillmore. Located near school on primary road. Tenant occupied. Occupant is in a month to month lease paying $950/month. Great investment property as occupant would like to stay and rent. Property is being sold as-is.

Key facts

• Near school
• On primary road
• 0.3 acre lot

Tags

• NEAR SCHOOL
• ON PRIMARY ROAD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $486 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#868 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A-; Watch: employment D+, crime F, amenities F.
• Fillmore Central School District (rural): math 52% / reading 53% proficiency, ranked #359 of 590 in NY (top 61%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 24 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 $2k of equity ($276 loan paydown + $2k appreciation (5.4% 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 (5.4% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 461 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $25k (39%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 4.7% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 461 days. Have you received any prior offers? Is the seller open to a 12% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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?
7. 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?
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 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: 2.75% ✓
• Cap rate: 20.92%
• Cash-on-cash: 52.23%
• DSCR: 3.32
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.4% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 60.2%
• Equity multiple: 4.69×
• Total profit: $41,175
• Equity at exit: $23,596

10-year hold

• IRR: 57.7%
• Equity multiple: 9.72×
• Total profit: $97,446
• Equity at exit: $41,562

Cash invested: $11,172 (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 14735

• Home prices YoY: 1.9%
• Active inventory: 24
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,098 medium
• Mortgage (P&I): −$209
• Tax from tax record: −$156 /mo · $1,867/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $486

Break-even live

Break-even rent $483

Max offer price $39,900

Occupancy floor 51%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-04-23
   status Pending
2. 2025-10-30
   status Active
3. 2025-09-11
   status Pending
4. 2025-06-10
   price $39,900
5. 2025-05-06
   price $41,900
6. 2025-04-06
   price $44,900
7. 2025-03-07
   price $49,900
8. 2025-02-16
   price $54,900
9. 2025-01-13
   price $59,900
10. 2024-11-27
    listed $64,900 Active
11. 2009-03-17
    soldstatus $31,800
12. 2001-06-27
    soldstatus $18,000
13. 2001-03-01
    soldstatus $12,826
14. 1999-06-18
    soldstatus $32,000

ⓘ 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: $1,867 · $156/mo
• Projected year-2 tax: $1,867 · $156/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 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: $13,180
• − Mortgage interest: −$2,235
• − Property taxes: −$1,867
• − Insurance: −$200
• − Repairs & maintenance: −$1,054
• − Management: −$1,054
• − Depreciation: −$1,161
• Taxable income: $5,609
• Est. tax owed @ 24.0%: −$1,346
• After-tax cash flow: $4,489/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: Fillmore Central School District
• NCES district ID: 3611070
• Math proficiency: 52% ▼ -12.00%
• Reading proficiency: 53% ▼ -8.00%
• Median HH income: $41,114
• Composite: 44.01/100
• National rank: #2889
• State rank: #359 of 590 in NY

Livability — Fillmore

• Score: 62/100
• State rank: #868
• US rank: #16718

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fillmore, NY
• Population (ZIP): 2,609

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 (95%)
• Race & ethnicity: White 95% Hispanic / Latino 3% Two or more races 1%
• Common ancestry: Lithuanian 6% Romanian 5% Polish 2%
• Foreign-born: 1% · Canada, China
• Languages at home: 91% English-only · German/W. Germanic 7% Spanish 1% Other Indo-European 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: ▲ 5.40%
• Current HPI: 289.3268
• 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

+24.7% since first listed

14 events — show timeline

• 2026-04-23 Pending — WNYREIS
• 2025-10-30 Relisted — WNYREIS
• 2025-09-11 Pending — WNYREIS
• 2025-06-10 Price Changed $39,900 WNYREIS
• 2025-05-06 Price Changed $41,900 WNYREIS
• 2025-04-06 Price Changed $44,900 WNYREIS
• 2025-03-07 Price Changed $49,900 WNYREIS
• 2025-02-16 Price Changed $54,900 WNYREIS
• 2025-01-13 Price Changed $59,900 WNYREIS
• 2024-11-27 Listed $64,900 WNYREIS
• 2009-03-17 Sold (Public Records) $31,800 Public Records
• 2001-06-27 Sold (Public Records) $18,000 Public Records
• 2001-03-01 Sold (Public Records) $12,826 Public Records
• 1999-06-18 Sold (Public Records) $32,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $1,867 · +3.3% YoY. Source: county tax records.