61 Mechanic St · Angelica, NY 14709

$41,900

3 bd · 1.0 ba · 1,596 sqft · SingleFamily public records · 249 Days on market

Built 1900 7,840 sqft lot $26/sqft · 59% below area ↓ 16% since listing

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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 +6.4/10.0
• Schools +4.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This 2-bedroom, 1-bath home offers convenient one-level living in the Village of Angelica NY, Allegany County. The home features comfortable living areas with a large dining room, living room, and an updated kitchen and bath completed in 2023.  The remodel included new floor joists, plumbing, wiring, and insulation.   Only a few finishing touches are needed to complete the updates.   One bedroom at the front of the home offers generous space and a walk-in closet, while the second bedroom has been used as a laundry room. There is a walk-up attic that has been divided into three rooms offering flexible space with potential for additional living area, home office, or storage.   A new boiler was installed in 2020. Outside, the yard offers open space for recreation along with a useful storage shed.   Enjoy crisp autumn mornings with coffee on the covered side porch or spend time with friends on the back porch, both are perfect spots to relax and take in the neighborhood setting. Conveniently located within walking distance to Main Street and the park circle, and just minutes from I-86 making travel and commuting easy.   The lot size is 0.18 acres.   This property is being sold as-is. This home is ready for the next owner to bring their ideas and finishing touches to make it their own. Motivated Seller.

Key facts

• New floor joists
• New plumbing
• Updated bath

Tags

• ONE LEVEL LIVING
• UPDATED KITCHEN
• UPDATED BATH
• NEW FLOOR JOISTS
• NEW PLUMBING
• NEW WIRING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $42k.

Deal economics

• At list price, monthly cash flow is $690 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $42k).
• Recommended offer: $37k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#944 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: health & safety D, schools D-, crime 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: 20 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 $1k of equity ($290 loan paydown + $1k appreciation (2.8% 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 (2.8% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 249 days — a 12% lower offer ($37k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $36,872 (12.0% below list)

Questions for the listing agent

1. It's been on market 249 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. 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.96% ✓
• Cap rate: 26.05%
• Cash-on-cash: 70.58%
• DSCR: 4.14
• GRM: 2.8

CMA / ARV

• ARV (median comp): $101,299
• List price: $41,900
• Delta: -58.64%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34 Olean St	0.17mi	3/1.0	1,636 (+2%)	8mo	$40,000	$24	82
114 Elizabeth St	0.31mi	3/2.0	1,512 (-5%)	8mo	$165,000	$109	66
47 Mechanic St	0.03mi	4/1.0 (+1)	1,788 (+12%)	14mo	$30,000	$17	62
106 Mechanic St	0.09mi	3/1.0	1,782 (+12%)	20mo	$72,000	$40	60
86 Brooklyn St	0.44mi	3/1.0	1,581 (-1%)	24mo	$105,000	$66	58
89 E Main St	0.44mi	3/2.0	1,804 (+13%)	3mo	$150,000	$83	51
221 W Main St	0.41mi	3/2.0	1,788 (+12%)	9mo	$115,900	$65	50

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

Projected returns pro-forma

2.79% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 75.0%
• Equity multiple: 5.14×
• Total profit: $48,555
• Equity at exit: $18,352

10-year hold

• IRR: 74.7%
• Equity multiple: 10.54×
• Total profit: $111,867
• Equity at exit: $27,908

Cash invested: $11,732 (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 14709

• Home prices YoY: 1.0%
• Active inventory: 20
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,240 medium
• Mortgage (P&I): −$220
• Tax est. 1.5%: −$52 /mo · $628/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $690

Break-even live

Break-even rent $367

Max offer price $41,900

Occupancy floor 39%

Sensitivity live

Price	-10% $719	-5% $704	+0% $690	+5% $676	+10% $661
Rent	-10% $592	-5% $641	+0% $690	+5% $739	+10% $788
Rate	-1.0pp $711	-0.5pp $701	base $690	+0.5pp $679	+1.0pp $668

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: $10,475
• Closing costs: $1,257
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-22
   days on market $41,900 Active 249 DOM
2. 2026-06-21
   days on market $41,900 Active 248 DOM
3. 2026-06-21
   days on market $41,900 Active 247 DOM
4. 2026-06-18
   days on market $41,900 Active 245 DOM
5. 2026-06-17
   days on market $41,900 Active 244 DOM
6. 2026-06-16
   days on market $41,900 Active 243 DOM
7. 2026-06-15
   days on market $41,900 Active 242 DOM
8. 2026-06-13
   days on market $41,900 Active 240 DOM
9. 2026-06-12
   days on market $41,900 Active 239 DOM
10. 2026-06-09
    days on market $41,900 Active 236 DOM
11. 2026-06-08
    days on market $41,900 Active 235 DOM
12. 2026-06-07
    days on market $41,900 Active 234 DOM
13. 2026-06-05
    days on market $41,900 Active 232 DOM
14. 2026-06-04
    days on market $41,900 Active 230 DOM
15. 2026-06-02
    days on market $41,900 Active 229 DOM
16. 2026-06-01
    days on market $41,900 Active 228 DOM
17. 2026-05-31
    days on market $41,900 Active 227 DOM
18. 2026-05-01
    price $41,900 1356-char remark

    Show marketing remark (1356 chars)

    This 2-bedroom, 1-bath home offers convenient one-level living in the Village of Angelica NY, Allegany County. The home features comfortable living areas with a large dining room, living room, and an updated kitchen and bath completed in 2023.  The remodel included new floor joists, plumbing, wiring, and insulation.   Only a few finishing touches are needed to complete the updates.   One bedroom at the front of the home offers generous space and a walk-in closet, while the second bedroom has been used as a laundry room. There is a walk-up attic that has been divided into three rooms offering flexible space with potential for additional living area, home office, or storage.   A new boiler was installed in 2020. Outside, the yard offers open space for recreation along with a useful storage shed.   Enjoy crisp autumn mornings with coffee on the covered side porch or spend time with friends on the back porch, both are perfect spots to relax and take in the neighborhood setting. Conveniently located within walking distance to Main Street and the park circle, and just minutes from I-86 making travel and commuting easy.   The lot size is 0.18 acres.   This property is being sold as-is. This home is ready for the next owner to bring their ideas and finishing touches to make it their own. Motivated Seller.

19. 2025-10-16
    listed $49,900 Active 1356-char remark

    Show marketing remark (1356 chars)

    This 2-bedroom, 1-bath home offers convenient one-level living in the Village of Angelica NY, Allegany County. The home features comfortable living areas with a large dining room, living room, and an updated kitchen and bath completed in 2023.  The remodel included new floor joists, plumbing, wiring, and insulation.   Only a few finishing touches are needed to complete the updates.   One bedroom at the front of the home offers generous space and a walk-in closet, while the second bedroom has been used as a laundry room. There is a walk-up attic that has been divided into three rooms offering flexible space with potential for additional living area, home office, or storage.   A new boiler was installed in 2020. Outside, the yard offers open space for recreation along with a useful storage shed.   Enjoy crisp autumn mornings with coffee on the covered side porch or spend time with friends on the back porch, both are perfect spots to relax and take in the neighborhood setting. Conveniently located within walking distance to Main Street and the park circle, and just minutes from I-86 making travel and commuting easy.   The lot size is 0.18 acres.   This property is being sold as-is. This home is ready for the next owner to bring their ideas and finishing touches to make it their own. Motivated Seller.

ⓘ 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 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥89°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: $14,880
• − Mortgage interest: −$2,347
• − Property taxes: −$628
• − Insurance: −$210
• − Repairs & maintenance: −$1,190
• − Management: −$1,190
• − Depreciation: −$1,219
• Taxable income: $8,095
• Est. tax owed @ 24.0%: −$1,943
• After-tax cash flow: $6,337/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: 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 — Angelica

• Score: 61/100
• State rank: #944
• US rank: #18364

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Angelica, NY
• Population (ZIP): 1,190

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 (94%)
• Race & ethnicity: White 94% Two or more races 3% Asian 2%
• Common ancestry: Lithuanian 5% Romanian 4% Slovak 2%
• Foreign-born: 1% · China, Canada
• Languages at home: 98% English-only · German/W. Germanic 2%

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: ▲ 2.79%
• Current HPI: 270.867
• 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

-16.0% since first listed

2 events — show timeline

• 2026-05-01 Price Changed $41,900 CNYIS
• 2025-10-16 Listed $49,900 CNYIS

Property tax history

+3.6%/yr

Latest (2025): $2,487 · -0.1% YoY. Source: county tax records.