18 East Ave · Sinclairville, NY 14782

$59,900

2 bd · 2.0 ba · 1,830 sqft · MultiFamily public records · 7 Days on market

Built 1900 0.52 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
• ARV discount +7.5/15.0
• Appreciation +7.3/10.0
• Schools +4.3/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Opportunity galore at 18 East Ave in Sinclairville! This two-unit property is packed with potential for investors, flippers, or buyers looking to create value. One unit is currently livable, while the second unit offers a blank canvas for renovation and customization. Whether you’re looking to renovate and rent both units, live in one side while finishing the other, or create additional space for personal use, the possibilities are endless. Several major updates have already been completed, including a roof in 2019, vinyl replacement windows throughout most of the home in 2020, new septic system in 2023, new sump pump in the basement, updated exterior wiring for both units, and a new

Key facts

• Two unit property
• Roof in 2019
• New sump pump

Tags

• TWO UNIT PROPERTY
• MAJOR UPDATES COMPLETED
• ROOF IN 2019
• VINYL REPLACEMENT WINDOWS
• NEW SEPTIC SYSTEM
• NEW SUMP PUMP

Property features AI

Finance

• Financial info: Multi-unit property with 2 total units; Two separate gas meters; Two separate electric meters; Operating expenses noted as 'See Remarks'; Owner pays some utilities (water noted; see remarks for details); Rent includes water for at least some units (see remarks)

Exterior

• Parking: Detached or on-site parking with gravel surface; Two or more parking spaces; 1-car garage
• Utilities: Public water connected; Water service connected; Septic tank sewer; Electric with circuit breakers
• Home design: Single-story building; Composite siding; Asphalt roof; Stone foundation; Existing (not new) condition; Property described as resale/fixer
• Construction: Composite siding construction; Asphalt roof; Stone foundation; Built as existing structure
• Exterior features: Irregular lot; Main-thoroughfare road frontage

Interior

• Kitchen: Oven/range; Refrigerator; Eat-in kitchen (in one unit)
• Bedrooms: One unit contains 2 bedrooms (unit-level details listed)
• Flooring: Carpet and varied flooring
• Bathrooms: At least one full bathroom per unit (one full bathroom noted)
• Heating & cooling: Gas heating; Wall furnace
• Interior features: Enclosed porch; Porch; Partial dirt-floor basement with sump pump
• Laundry & utility: Washer and dryer in one unit; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $60k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).

Location & tenants

• Location reads 58/100 on livability (#1,062 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools D+, crime F, amenities F.
• Cassadaga Valley Central School District (rural): math 41% / reading 61% proficiency, ranked #372 of 590 in NY (top 63%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 18 active listings in the ZIP; 127 units permitted in Chautauqua County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($414 loan paydown + $3k appreciation (4.6% local appreciation)).
• Chautauqua County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $17k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $19k; list at $60k implies a 215% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.15% ✓
• Cap rate: 26.63%
• Cash-on-cash: 72.62%
• DSCR: 4.23
• GRM: 2.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.6% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 78.6%
• Equity multiple: 5.60×
• Total profit: $77,172
• Equity at exit: $32,510

10-year hold

• IRR: 76.9%
• Equity multiple: 11.63×
• Total profit: $178,205
• Equity at exit: $54,957

Cash invested: $16,772 (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 14782

• Home prices YoY: 1.2%
• Active inventory: 18
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,887 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$137 /mo · $1,639/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $1,015

Break-even live

Break-even rent $602

Max offer price $59,900

Occupancy floor 41%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,888
Total (2 units)			$1,887

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-21
   listed $59,900 Active
2. 1993-05-17
   soldstatus $19,000

ⓘ 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: $1,639 · $137/mo
• Projected year-2 tax: $1,639 · $137/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 1/10 Low 7 d/yr ≥89°F today · 16 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: $22,644
• − Mortgage interest: −$3,355
• − Property taxes: −$1,639
• − Insurance: −$300
• − Repairs & maintenance: −$1,812
• − Management: −$1,812
• − Depreciation: −$1,743
• Taxable income: $11,984
• Est. tax owed @ 24.0%: −$2,876
• After-tax cash flow: $9,304/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: Cassadaga Valley Central School District
• NCES district ID: 3606660
• Math proficiency: 41% ▼ -3.00%
• Reading proficiency: 61% ▲ 15.00%
• Median HH income: $46,654
• Composite: 43.22/100
• National rank: #3059
• State rank: #372 of 590 in NY

Livability — Sinclairville

• Score: 58/100
• State rank: #1062
• US rank: #21176

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sinclairville, NY
• City population: 2,010
• Population (ZIP): 2,010

Population outlook (Chautauqua County) Hauer SSP2

• Today (2025): 123,454 people
• By 2030: 118,509 · -4.0%
• By 2040: 107,311 · -13.1%
• By 2050: 96,703 · -21.7%
• By 2075: 76,757 · -37.8%
• By 2100: 60,984 · -50.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Iranian 7% Italian 4% Lithuanian 3%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Chautauqua

• 2024 margin: Strong R (+22.0) · D 39.0% · R 61.0%
• 2008→2024 swing: -22.9pp toward R · 2008: 0.9pp · 2024: -22.0pp
• All cycles: 2024: R+22.0 2020: R+19.8 2016: R+24.6 2012: R+8.2 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.60%
• Current HPI: 383.2164
• 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

+215.3% since first listed

2 events — show timeline

• 2026-05-21 Listed $59,900 UNYREIS
• 1993-05-17 Sold (Public Records) $19,000 Public Records

Property tax history

+0.6%/yr

Latest (2025): $1,639 · +1.7% YoY. Source: county tax records.