15 Washburn Ave · Franklinville, NY 14737

$45,000

3 bd · 1.0 ba · 1,144 sqft · SingleFamily public records · 46 Days on market

Built 1920 6,272 sqft lot $39/sqft · 65% below area

---

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 +8.0/10.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Attention investors and DIY enthusiasts! This 3-bedroom, 1-bath home is a true diamond in the rough, offering a prime opportunity to build massive sweat equity. While the interior is a blank canvas awaiting your creative vision and mechanical updates, the most important "big ticket" item is already done—a brand-new roof was professionally installed in 2024. Featuring a solid block foundation, full basement, and a spacious 2-story layout, this property provides the structural bones needed for a successful transformation. Located on a central village lot in an agricultural district, you’re just steps away from local schools and amenities. Whether you're looking for yo

Key facts

• Brand new roof
• Full basement
• Central village lot

Tags

• BRAND NEW ROOF
• SOLID BLOCK FOUNDATION
• FULL BASEMENT
• SPACIOUS 2 STORY LAYOUT
• CENTRAL VILLAGE LOT
• AGRICULTURAL DISTRICT

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: Two-story house; Existing/resale property
• Construction: Aluminum siding; Block foundation
• Exterior features: Dirt driveway; Rectangular lot; Agricultural zoning/character

Interior

• Kitchen: Country-style kitchen; Breakfast bar; Refrigerator
• Bedrooms: Total rooms: 9 (includes entry foyer and other rooms)
• Flooring: Hardwood; Varies
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Entrance foyer; Breakfast bar; Country kitchen; Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $535 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#856 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment C-, schools D+, amenities F.
• Franklinville Central School District (rural): math 60% / reading 57% proficiency, ranked #281 of 590 in NY (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 33 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 $3k of equity ($311 loan paydown + $3k appreciation (5.9% local appreciation)).
• Cattaraugus County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k 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 ($44k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $17k; list at $45k implies a 165% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 2.38% ✓
• Cap rate: 20.55%
• Cash-on-cash: 50.93%
• DSCR: 3.27
• GRM: 3.5

CMA / ARV

• ARV (median comp): $127,222
• List price: $45,000
• Delta: -64.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25 Riggs St	0.27mi	3/1.0	1,248 (+9%)	7mo	$129,000	$103	67
34 Church St	0.24mi	3/1.5	1,268 (+11%)	10mo	$158,000	$125	61
12 Mill St	0.47mi	3/1.5	1,128 (-1%)	18mo	$155,000	$137	59
30 Howard St	0.16mi	3/1.0	987 (-14%)	13mo	$111,000	$112	59
4 4th Ave	0.46mi	2/1.5 (-1)	1,065 (-7%)	9mo	$90,100	$85	52
7829 Pine St	0.41mi	2/1.0 (-1)	1,016 (-11%)	17mo	$121,500	$120	43
16 Pennsylvania Ave	0.51mi	3/1.0	1,302 (+14%)	14mo	$109,900	$84	42

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

Projected returns pro-forma

5.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 59.6%
• Equity multiple: 4.72×
• Total profit: $46,876
• Equity at exit: $28,085

10-year hold

• IRR: 56.5%
• Equity multiple: 9.83×
• Total profit: $111,297
• Equity at exit: $50,755

Cash invested: $12,600 (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 14737

• Home prices YoY: 2.0%
• Active inventory: 33
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,071 medium
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $535

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 45%

Sensitivity live

Price	-10% $566	-5% $550	+0% $535	+5% $519	+10% $504
Rent	-10% $450	-5% $492	+0% $535	+5% $577	+10% $619
Rate	-1.0pp $557	-0.5pp $546	base $535	+0.5pp $523	+1.0pp $511

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $45,000 Active 46 DOM
2. 2026-06-18
   days on market $45,000 Active 44 DOM
3. 2026-06-17
   days on market $45,000 Active 43 DOM
4. 2026-06-16
   days on market $45,000 Active 42 DOM
5. 2026-06-15
   days on market $45,000 Active 41 DOM
6. 2026-06-13
   days on market $45,000 Active 39 DOM
7. 2026-06-12
   days on market $45,000 Active 38 DOM
8. 2026-06-09
   days on market $45,000 Active 35 DOM
9. 2026-06-08
   days on market $45,000 Active 34 DOM
10. 2026-06-07
    days on market $45,000 Active 33 DOM
11. 2026-06-07
    days on market $45,000 Active 32 DOM
12. 2026-06-04
    days on market $45,000 Active 29 DOM
13. 2026-06-02
    days on market $45,000 Active 28 DOM
14. 2026-06-01
    days on market $45,000 Active 27 DOM
15. 2026-05-31
    days on market $45,000 Active 26 DOM
16. 2026-05-05
    listed $45,000 Active 803-char remark
17. 2010-09-15
    soldstatus $17,000

ⓘ 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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥88°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,847
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,028
• − Management: −$1,028
• − Depreciation: −$1,309
• Taxable income: $6,061
• Est. tax owed @ 24.0%: −$1,455
• After-tax cash flow: $4,962/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: Franklinville Central School District
• NCES district ID: 3611490
• Math proficiency: 60% ▲ 11.00%
• Reading proficiency: 57% ▲ 16.00%
• Median HH income: $41,110
• Composite: 49.0/100
• National rank: #2068
• State rank: #281 of 590 in NY

Livability — Franklinville

• Score: 62/100
• State rank: #856
• US rank: #16514

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklinville, NY
• Population (ZIP): 4,071

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 (85%)
• Race & ethnicity: White 85% Two or more races 9% Hispanic / Latino 5% Native American 1%
• Common ancestry: Romanian 10% Iranian 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · 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: ▲ 5.93%
• Current HPI: 305.4492
• 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

+164.7% since first listed

2 events — show timeline

• 2026-05-05 Listed $45,000 WNYREIS
• 2010-09-15 Sold (Public Records) $17,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $2,374 · +2.5% YoY. Source: county tax records.