84 Torrance Pl · Gowanda, NY 14070

$185,000

3 bd · 1.0 ba · 1,568 sqft · SingleFamily public records · 46 Days on market

Built 1940 0.48 ac lot $118/sqft · at area comps Est $190k · at est.

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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).

• Appreciation +10.0/10.0
• ARV discount +8.8/15.0
• Cash flow +6.3/30.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.2/10.0
• DSCR +0.6/10.0

Listing remarks MLS

84 Torrance Pl; Wonderfully cared for by the same owners since 1967,this 4 bedroom cedar shake village home is sitting on almost half acre home-site. The enclosed full front porch gives access to the extra large living room that features period style moldings that are found throughout this spacious home. Formal dining room, office area and fully appliance kitchen are also found on this level with the great sized full bathroom. The second level has four good sized bedrooms with gleaming hardwood floors. The full dry basement offers plenty of room for extra storage. The back entry has an enclosed mud room that leads to the covered back patio perfect for grilling and entertaining. The extra large lot homes a large 2 car detached garage and storage shed,

Key facts

• Formal dining room
• Enclosed mud room
• Full dry basement

Tags

• ENCLOSED FULL FRONT PORCH
• EXTRA LARGE LIVING ROOM
• FORMAL DINING ROOM
• FULLY APPLIANCE KITCHEN
• FULL DRY BASEMENT
• ENCLOSED MUD ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-325 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (31.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (37.9% below list).
• Recommended offer: $115k (37.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#457 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities F, commute F.
• Gowanda Central School District (rural): math 38% / reading 44% proficiency, ranked #513 of 590 in NY (top 87%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 24 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 $20k of equity ($1k loan paydown + $18k 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 ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $114,840 (37.9% 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. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.62% ✗
• Cap rate: 4.18%
• Cash-on-cash: -7.53%
• DSCR: 0.66
• GRM: 13.4

CMA / ARV

• ARV (median comp): $190,346
• List price: $185,000
• Delta: -2.81%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
39 Chestnut St	0.13mi	3/1.5	1,512 (-4%)	8mo	$160,000	$106	79
43 Miller St	0.44mi	3/2.0	1,500 (-4%)	1mo	$215,000	$143	68
33 Aldrich St	0.45mi	3/2.0	1,469 (-6%)	4mo	$176,500	$120	61
32 Miller St	0.30mi	2/1.5 (-1)	1,530 (-2%)	19mo	$170,000	$111	59
120 Buffalo St	0.63mi	3/1.5	1,641 (+5%)	19mo	$100,000	$61	45
36 Park St	0.49mi	2/1.5 (-1)	1,668 (+6%)	20mo	$145,000	$87	43
18 Frederick St	0.55mi	4/2.0 (+1)	1,435 (-8%)	11mo	$122,900	$86	42
26 Park St	0.47mi	2/1.0 (-1)	1,396 (-11%)	16mo	$130,000	$93	42
10348 Route 62	0.64mi	3/1.5	1,708 (+9%)	15mo	$220,000	$129	41
23 Aldrich St	0.44mi	3/2.0	1,341 (-14%)	19mo	$212,000	$158	35
11070 Fairview Dr	0.74mi	3/1.0	1,344 (-14%)	9mo	$210,000	$156	34
52 Frederick St	0.60mi	4/1.0 (+1)	1,365 (-13%)	21mo	$155,000	$114	28

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: 19.0%
• Equity multiple: 2.55×
• Total profit: $80,033
• Equity at exit: $166,663

10-year hold

• IRR: 17.5%
• Equity multiple: 5.86×
• Total profit: $251,951
• Equity at exit: $359,414

Cash invested: $51,800 (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 14070

• Home prices YoY: 8.8%
• Active inventory: 24
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $1,148 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$185 /mo · $2,222/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $-325

Break-even live

Break-even rent $1,560

Max offer price $127,554

Occupancy floor —

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-10
   status Pending 760-char remark

   Show marketing remark (760 chars)

   84 Torrance Pl; Wonderfully cared for by the same owners since 1967,this 4 bedroom cedar shake village home is sitting on almost half acre home-site. The enclosed full front porch gives access to the extra large living room that features period style moldings that are found throughout this spacious home. Formal dining room, office area and fully appliance kitchen are also found on this level with the great sized full bathroom. The second level has four good sized bedrooms with gleaming hardwood floors. The full dry basement offers plenty of room for extra storage. The back entry has an enclosed mud room that leads to the covered back patio perfect for grilling and entertaining. The extra large lot homes a large 2 car detached garage and storage shed,

2. 2026-03-25
   listed $185,000 Active 760-char remark

   Show marketing remark (760 chars)

   84 Torrance Pl; Wonderfully cared for by the same owners since 1967,this 4 bedroom cedar shake village home is sitting on almost half acre home-site. The enclosed full front porch gives access to the extra large living room that features period style moldings that are found throughout this spacious home. Formal dining room, office area and fully appliance kitchen are also found on this level with the great sized full bathroom. The second level has four good sized bedrooms with gleaming hardwood floors. The full dry basement offers plenty of room for extra storage. The back entry has an enclosed mud room that leads to the covered back patio perfect for grilling and entertaining. The extra large lot homes a large 2 car detached garage and storage shed,

ⓘ 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: $2,222 · $185/mo
• Projected year-2 tax: $2,674 · $223/mo
• Expected delta: +$452/yr (+$38/mo · 20.3%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥93°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,781
• − Mortgage interest: −$10,363
• − Property taxes: −$2,222
• − Insurance: −$925
• − Repairs & maintenance: −$1,102
• − Management: −$1,102
• − Depreciation: −$5,382
• Taxable loss: −$7,316
• Est. tax savings @ 24.0%: +$1,756
• After-tax cash flow: $-2,146/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: Gowanda Central School District
• NCES district ID: 3612390
• Math proficiency: 38% ▼ -13.00%
• Reading proficiency: 44% ▲ 3.00%
• Median HH income: $43,777
• Composite: 34.71/100
• National rank: #5138
• State rank: #513 of 590 in NY

Livability — Gowanda

• Score: 70/100
• State rank: #457
• US rank: #7988

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gowanda, NY
• Population (ZIP): 5,437

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 (81%)
• Race & ethnicity: White 81% Native American 10% Hispanic / Latino 5% Two or more races 3% Black 1%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 9% Italian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% German/W. Germanic 1%

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: ▲ 21.64%
• Current HPI: 269.1092
• 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

• 2026-05-10 Pending — WNYREIS
• 2026-03-25 Listed $185,000 WNYREIS

Property tax history

+10.4%/yr

Latest (2025): $2,222 · -1.3% YoY. Source: county tax records.