3309 Five Mile Rd · Allegany, NY 14706

$110,900

3 bd · 1.5 ba · 1,600 sqft · SingleFamily public records · 256 Days on market

Built 1978 0.56 ac lot

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Why this score? — see what drove the C+ 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 +17.4/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• DSCR +5.4/10.0
• Schools +5.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Nestled in the countryside yet conveniently located close to town amenities, this charming home offers the best of both worlds. This raised ranch home boasts three bedrooms and one and a half baths, providing ample space for comfortable living. Situated on a generous lot, the property offers a large backyard adorned with a tranquil creek, perfect for outdoor recreation and relaxation. Don't miss your opportunity to make cherished memories in this inviting retreat. Welcome home!

Key facts

• Large backyard
• Dining area
• Bright living room

Tags

• RAISED RANCH
• MAIN LIVING SPACE
• BRIGHT LIVING ROOM
• DINING AREA
• LARGE BACKYARD
• CREEK

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $111k.

Deal economics

• At list price, monthly cash flow is $84 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $111k).
• Recommended offer: $98k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#395 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, amenities F, commute F.
• Allegany-Limestone Central School District (rural): math 55% / reading 67% proficiency, ranked #233 of 590 in NY (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 47 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 $12k of equity ($767 loan paydown + $11k 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 256 days — a 12% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $9k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price.

Recommended offer $97,592 (12.0% below list)

Questions for the listing agent

1. It's been on market 256 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 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.09% ✓
• Cap rate: 7.20%
• Cash-on-cash: 3.25%
• DSCR: 1.14
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.6%
• Equity multiple: 3.12×
• Total profit: $65,832
• Equity at exit: $99,908

10-year hold

• IRR: 23.4%
• Equity multiple: 7.11×
• Total profit: $189,824
• Equity at exit: $215,454

Cash invested: $31,052 (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 14706

• Home prices YoY: 10.5%
• Active inventory: 47
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,211 medium
• Mortgage (P&I): −$582
• Tax from tax record: −$245 /mo · $2,941/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $84

Break-even live

Break-even rent $1,105

Max offer price $110,900

Occupancy floor 88%

Sensitivity live

Price	-10% $147	-5% $115	+0% $84	+5% $53	+10% $21
Rent	-10% $-12	-5% $36	+0% $84	+5% $132	+10% $180
Rate	-1.0pp $140	-0.5pp $112	base $84	+0.5pp $55	+1.0pp $26

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: $27,725
• Closing costs: $3,327
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-04
   statusdays on market $110,900 Pending 256 DOM
2. 2026-06-02
   days on market $110,900 Active Under Contract 255 DOM
3. 2026-06-01
   days on market $110,900 Active Under Contract 254 DOM
4. 2026-05-31
   days on market $110,900 Active Under Contract 253 DOM
5. 2026-04-27
   historical Active Under Contract
6. 2026-04-23
   status Pending
7. 2026-03-13
   price $110,900
8. 2025-12-11
   status Active
9. 2025-09-20
   status Pending
10. 2025-08-26
    price $112,900
11. 2025-07-30
    price $114,900
12. 2025-06-24
    listed $119,900 Active
13. 2024-06-03
    soldstatus $110,000 Closed 482-char remark

    Show marketing remark (482 chars)

    Nestled in the countryside yet conveniently located close to town amenities, this charming home offers the best of both worlds. This raised ranch home boasts three bedrooms and one and a half baths, providing ample space for comfortable living. Situated on a generous lot, the property offers a large backyard adorned with a tranquil creek, perfect for outdoor recreation and relaxation. Don't miss your opportunity to make cherished memories in this inviting retreat. Welcome home!

14. 2024-05-28
    soldstatus $110,000
15. 2024-03-26
    status Pending 482-char remark

    Show marketing remark (482 chars)

    Nestled in the countryside yet conveniently located close to town amenities, this charming home offers the best of both worlds. This raised ranch home boasts three bedrooms and one and a half baths, providing ample space for comfortable living. Situated on a generous lot, the property offers a large backyard adorned with a tranquil creek, perfect for outdoor recreation and relaxation. Don't miss your opportunity to make cherished memories in this inviting retreat. Welcome home!

16. 2024-02-09
    listed $114,900 Active 482-char remark

    Show marketing remark (482 chars)

    Nestled in the countryside yet conveniently located close to town amenities, this charming home offers the best of both worlds. This raised ranch home boasts three bedrooms and one and a half baths, providing ample space for comfortable living. Situated on a generous lot, the property offers a large backyard adorned with a tranquil creek, perfect for outdoor recreation and relaxation. Don't miss your opportunity to make cherished memories in this inviting retreat. Welcome home!

17. 2019-07-08
    historical
18. 2019-04-30
    price $72,900
19. 2018-08-23
    price $74,900
20. 2018-04-26
    price $79,900
21. 2018-04-10
    price $83,500
22. 2017-09-08
    price $85,500
23. 2017-07-28
    listed $89,900 Active

ⓘ 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: $2,941 · $245/mo
• Projected year-2 tax: $2,941 · $245/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 4/10 Moderate FEMA zone X · 22% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥90°F today · 19 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: $14,534
• − Mortgage interest: −$6,212
• − Property taxes: −$2,941
• − Insurance: −$554
• − Repairs & maintenance: −$1,163
• − Management: −$1,163
• − Depreciation: −$3,226
• Taxable loss: −$725
• Est. tax savings @ 24.0%: +$174
• After-tax cash flow: $1,182/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: Allegany-Limestone Central School District
• NCES district ID: 3600015
• Math proficiency: 55% ▼ -5.00%
• Reading proficiency: 67% ▲ 17.00%
• Median HH income: $47,850
• Composite: 51.66/100
• National rank: #1696
• State rank: #233 of 590 in NY

Livability — Allegany

• Score: 71/100
• State rank: #395
• US rank: #6843

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,118

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 (88%)
• Race & ethnicity: White 88% Two or more races 5% Black 3% Native American 2% Asian 2%
• Common ancestry: Romanian 7% Slovak 3% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Other Indo-European 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: ▲ 24.72%
• Current HPI: 259.9141
• 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

+23.4% since first listed

19 events — show timeline

• 2026-04-27 Contingent — UNYREIS
• 2026-04-23 Pending — UNYREIS
• 2026-03-13 Price Changed $110,900 UNYREIS
• 2025-12-11 Relisted — UNYREIS
• 2025-09-20 Pending — UNYREIS
• 2025-08-26 Price Changed $112,900 UNYREIS
• 2025-07-30 Price Changed $114,900 UNYREIS
• 2025-06-24 Listed $119,900 UNYREIS
• 2024-06-03 Sold (MLS) $110,000 UNYREIS
• 2024-05-28 Sold (Public Records) $110,000 Public Records
• 2024-03-26 Pending — UNYREIS
• 2024-02-09 Listed $114,900 UNYREIS
• 2019-07-08 Listing Removed — UNYREIS
• 2019-04-30 Price Changed $72,900 UNYREIS
• 2018-08-23 Price Changed $74,900 UNYREIS
• 2018-04-26 Price Changed $79,900 UNYREIS
• 2018-04-10 Price Changed $83,500 UNYREIS
• 2017-09-08 Price Changed $85,500 UNYREIS
• 2017-07-28 Listed $89,900 UNYREIS

Property tax history

+1.7%/yr

Latest (2025): $2,941 · +0.9% YoY. Source: county tax records.