8 Norton St · Belmont, NY 14813

$79,900

2 bd · 1.0 ba · 1,080 sqft · SingleFamily · 169 Days on market

Built 1975 Average condition 0.28 ac lot $74/sqft · 20% below area Est $100k · 20% under

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Why this score? — see what drove the A- 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 +27.2/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• Appreciation +8.4/10.0
• 1% rule +7.4/10.0
• Schools +4.5/10.0
• Livability +3.6/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0

Listing remarks MLS

This A-Frame style home is move-in ready or continue to use as a rental property located in the Village of Belmont NY, Allegany County. Tucked back off the road is this cozy A-frame style home set on a 36 x 20 block foundation that serves as a garage.   Exterior steps lead to the main level of the home where you’ll enter from the back porch into a functional kitchen that overlooks the open living space. The inviting living room features vaulted ceilings and plank flooring creating a warm and comfortable space.   On each end of the living room are steps leading to two separate loft spaces currently utilized as bedrooms providing a unique and efficient use of space. Enjoy the convenience of village living on a spacious lot with all utilities including municipal water, municipal sewer, and internet.   The large lower-level garage offers plenty of room to park your car, store your belongings, and even provides the potential to be finished into additional living space.   The home is currently a rental property and is tenant occupied offering an immediate income opportunity.   The lot size is 0.28 acres.

Key facts

• Functional kitchen
• Open living space
• Plank flooring

Tags

• A-FRAME STYLE HOME
• FUNCTIONAL KITCHEN
• OPEN LIVING SPACE
• VAULTED CEILINGS
• PLANK FLOORING
• LOFT SPACES

🏷️ Possibly a rental listed for sale. The $79,900 price doesn't fit this home's estimated sale value (~$100,322) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($988 rent vs $80k).
• Recommended offer: $70k (12.0% 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 $6k of equity ($552 loan paydown + $5k 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 $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 169 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 169 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 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.24% ✓
• Cap rate: 9.73%
• Cash-on-cash: 12.26%
• DSCR: 1.55
• GRM: 6.7

CMA / ARV

• ARV (median comp): $100,322
• List price: $79,900
• Delta: -20.36%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3 Middaugh St	0.17mi	3/2.0 (+1)	1,080 (0%)	10mo	$127,500	$118	75
68 South St St	0.47mi	3/1.0 (+1)	1,080 (0%)	8mo	$59,900	$55	67
5489 Cemetery Hill Rd	0.43mi	2/1.0	980 (-9%)	19mo	$23,900	$24	49

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: 27.1%
• Equity multiple: 2.85×
• Total profit: $41,344
• Equity at exit: $54,164

10-year hold

• IRR: 24.9%
• Equity multiple: 5.89×
• Total profit: $109,439
• Equity at exit: $101,813

Cash invested: $22,372 (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: 6.7×

Monthly cashflow live

• Estimated rent: $988 medium
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $229

Break-even live

Break-even rent $699

Max offer price $79,900

Occupancy floor 72%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-13
   status Pending 1146-char remark

   Show marketing remark (1146 chars)

   This A-Frame style home is move-in ready or continue to use as a rental property located in the Village of Belmont NY, Allegany County. Tucked back off the road is this cozy A-frame style home set on a 36 x 20 block foundation that serves as a garage.   Exterior steps lead to the main level of the home where you’ll enter from the back porch into a functional kitchen that overlooks the open living space. The inviting living room features vaulted ceilings and plank flooring creating a warm and comfortable space.   On each end of the living room are steps leading to two separate loft spaces currently utilized as bedrooms providing a unique and efficient use of space. Enjoy the convenience of village living on a spacious lot with all utilities including municipal water, municipal sewer, and internet.   The large lower-level garage offers plenty of room to park your car, store your belongings, and even provides the potential to be finished into additional living space.   The home is currently a rental property and is tenant occupied offering an immediate income opportunity.   The lot size is 0.28 acres.

2. 2025-11-25
   listed $79,900 Active 1146-char remark

   Show marketing remark (1146 chars)

   This A-Frame style home is move-in ready or continue to use as a rental property located in the Village of Belmont NY, Allegany County. Tucked back off the road is this cozy A-frame style home set on a 36 x 20 block foundation that serves as a garage.   Exterior steps lead to the main level of the home where you’ll enter from the back porch into a functional kitchen that overlooks the open living space. The inviting living room features vaulted ceilings and plank flooring creating a warm and comfortable space.   On each end of the living room are steps leading to two separate loft spaces currently utilized as bedrooms providing a unique and efficient use of space. Enjoy the convenience of village living on a spacious lot with all utilities including municipal water, municipal sewer, and internet.   The large lower-level garage offers plenty of room to park your car, store your belongings, and even provides the potential to be finished into additional living space.   The home is currently a rental property and is tenant occupied offering an immediate income opportunity.   The lot size is 0.28 acres.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major 74% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 8 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: $11,860
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$949
• − Management: −$949
• − Depreciation: −$2,324
• Taxable income: $1,564
• Est. tax owed @ 24.0%: −$375
• After-tax cash flow: $2,368/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.

Condition & rehab AI · 1 photo

Average 55/100 Moderate rehab

This A-frame style home is move-in ready but requires some exterior repairs and maintenance to enhance its curb appeal and value.

Repairs flagged

• Minor Deck — Some weathering
• Minor Stairs — Some wear

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace deck and stairs — Improves safety and aesthetics
• Both Landscaping — Enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Deck · Some weathering	Minor	$500–3,000
Stairs · Some wear	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace deck and stairs — Improves safety and aesthetics ↑
• Both Landscaping — Enhances curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

2 events — show timeline

• 2026-05-13 Pending — CNYIS
• 2025-11-25 Listed $79,900 CNYIS