2861 North Rd · North East, PA 14781

$149,900

2 bd · 1.0 ba · 768 sqft · SingleFamily · 78 Days on market

Built 1975 2.00 ac lot $195/sqft · 62% below area

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Why this score? — see what drove the D- 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).

• ARV discount +7.5/15.0
• Appreciation +6.9/10.0
• Cash flow +5.7/30.0
• Schools +5.2/10.0
• Livability +4.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.0/10.0
• DSCR +0.1/10.0

Listing remarks MLS

Discover the perfect blend of rustic charm and practical functionality in this unique 2-bedroom, 1-bathroom barndominium set on 2 peaceful acres just minutes from scenic Findley Lake. The home’s cozy living quarters feature an open-concept layout with a bright kitchen, comfortable living area, and a private bedroom with a full bath—ideal for year-round living or a weekend retreat. The real showstopper is the massive garage space, offering ample room for vehicles, boats, or a workshop. Whether you’re a hobbyist, collector, or in need of serious storage, this property delivers unmatched versatility. Outside, enjoy the tranquility of your own acreage—perfect for gardening, outdoor gatherings, or simply soaking in the serene countryside views. Only 5-minute walk to lovely Findley Lake with stunning Lake views, boat and canoe launch, charming shops and local eats! 10 minute drive to Peek'n Peak Resort, 20-minute drive to Lake Erie, Vineyards and 1/4 mile to snowmobile trails!

Key facts

• 2 peaceful acres
• Massive garage space
• Open-concept layout

Tags

• OPEN-CONCEPT LAYOUT
• MASSIVE GARAGE SPACE
• 2 PEACEFUL ACRES
• 5-MINUTE WALK TO FINDLEY LAKE
• BOAT AND CANOE LAUNCH
• 20-MINUTE DRIVE TO LAKE ERIE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-309 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $95k (36.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $89k (40.4% below list).
• Recommended offer: $89k (40.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 88/100 on livability (#42 in PA, #233 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+.
• Clymer Central School District (rural): math 62% / reading 57% proficiency, ranked #291 of 755 in NY (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 127 units permitted in Chautauqua County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.8% local appreciation)).
• Chautauqua County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $150k implies a 87% gain — meaningful room to come down on a strong offer.

Recommended offer $89,333 (40.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.60% ✗
• Cap rate: 3.82%
• Cash-on-cash: -8.84%
• DSCR: 0.61
• GRM: 14.0

CMA / ARV

• ARV (median comp): $394,768
• List price: $149,900
• Delta: -62.03%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

3.81% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.9%
• Equity multiple: 1.12×
• Total profit: $4,912
• Equity at exit: $74,376

10-year hold

• IRR: 5.3%
• Equity multiple: 1.89×
• Total profit: $37,290
• Equity at exit: $120,369

Cash invested: $41,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Pennsylvania: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

10-day notice; Philadelphia has eviction-court diversion + some protections; otherwise moderate.

Methodology + full state rankings →

ZIP-level market 14781

• Home prices YoY: 1.1%
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $893 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$167 /mo · $1,998/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$188
• Net cashflow: $-309

Break-even live

Break-even rent $1,285

Max offer price $95,254

Occupancy floor —

Sensitivity live

Price	-10% $-224	-5% $-267	+0% $-309	+5% $-352	+10% $-394
Rent	-10% $-380	-5% $-345	+0% $-309	+5% $-274	+10% $-239
Rate	-1.0pp $-234	-0.5pp $-271	base $-309	+0.5pp $-348	+1.0pp $-388

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $149,900 Active 78 DOM
2. 2026-06-21
   days on market $149,900 Active 77 DOM
3. 2026-06-18
   days on market $149,900 Active 75 DOM
4. 2026-06-17
   days on market $149,900 Active 74 DOM
5. 2026-06-16
   days on market $149,900 Active 73 DOM
6. 2026-06-15
   days on market $149,900 Active 72 DOM
7. 2026-06-13
   days on market $149,900 Active 70 DOM
8. 2026-06-12
   pricedays on market $149,900 Active 69 DOM
9. 2026-06-09
   days on market $159,900 Active 66 DOM
10. 2026-06-08
    days on market $159,900 Active 65 DOM
11. 2026-06-07
    days on market $159,900 Active 64 DOM
12. 2026-06-07
    days on market $159,900 Active 63 DOM
13. 2026-06-04
    days on market $159,900 Active 60 DOM
14. 2026-06-02
    days on market $159,900 Active 59 DOM
15. 2026-06-01
    days on market $159,900 Active 58 DOM
16. 2026-05-31
    days on market $159,900 Active 57 DOM
17. 2026-04-04
    listed $159,900 Active 1009-char remark

    Show marketing remark (1009 chars)

    Discover the perfect blend of rustic charm and practical functionality in this unique 2-bedroom, 1-bathroom barndominium set on 2 peaceful acres just minutes from scenic Findley Lake. The home’s cozy living quarters feature an open-concept layout with a bright kitchen, comfortable living area, and a private bedroom with a full bath—ideal for year-round living or a weekend retreat. The real showstopper is the massive garage space, offering ample room for vehicles, boats, or a workshop. Whether you’re a hobbyist, collector, or in need of serious storage, this property delivers unmatched versatility. Outside, enjoy the tranquility of your own acreage—perfect for gardening, outdoor gatherings, or simply soaking in the serene countryside views. Only 5-minute walk to lovely Findley Lake with stunning Lake views, boat and canoe launch, charming shops and local eats! 10 minute drive to Peek'n Peak Resort, 20-minute drive to Lake Erie, Vineyards and 1/4 mile to snowmobile trails!

18. 2026-03-19
    listed $159,900 Active 1009-char remark

    Show marketing remark (1009 chars)

    Discover the perfect blend of rustic charm and practical functionality in this unique 2-bedroom, 1-bathroom barndominium set on 2 peaceful acres just minutes from scenic Findley Lake. The home’s cozy living quarters feature an open-concept layout with a bright kitchen, comfortable living area, and a private bedroom with a full bath—ideal for year-round living or a weekend retreat. The real showstopper is the massive garage space, offering ample room for vehicles, boats, or a workshop. Whether you’re a hobbyist, collector, or in need of serious storage, this property delivers unmatched versatility. Outside, enjoy the tranquility of your own acreage—perfect for gardening, outdoor gatherings, or simply soaking in the serene countryside views. Only 5-minute walk to lovely Findley Lake with stunning Lake views, boat and canoe launch, charming shops and local eats! 10-minute drive to Peek'n Peak Resort, 20-minute drive to Lake Erie, Vineyards and 1/4 mile to snowmobile trails!

19. 2020-08-03
    soldstatus $80,000 Closed Sale or Rented
20. 2020-07-31
    soldstatus $80,000
21. 2020-06-19
    status Pending Sale
22. 2020-03-07
    price $89,000
23. 2019-12-02
    listed $98,000 Active
24. 2003-04-25
    soldstatus $39,700

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

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $1,998 · $167/mo
• Projected year-2 tax: $2,183 · $182/mo
• Expected delta: +$185/yr (+$15/mo · 9.3%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥91°F today · 17 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: $10,720
• − Mortgage interest: −$8,397
• − Property taxes: −$1,998
• − Insurance: −$750
• − Repairs & maintenance: −$858
• − Management: −$858
• − Depreciation: −$4,361
• Taxable loss: −$6,500
• Est. tax savings @ 24.0%: +$1,560
• After-tax cash flow: $-2,152/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: Clymer Central School District
• NCES district ID: 3607890
• Math proficiency: 62% ▲ 6.00%
• Reading proficiency: 57% ▲ 5.00%
• Median HH income: $46,360
• Composite: 51.95/100
• National rank: #3542
• State rank: #291 of 755 in NY

Livability — North East

• Score: 88/100
• State rank: #42
• US rank: #233

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,859

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 (90%)
• Race & ethnicity: White 90% Two or more races 7% Hispanic / Latino 5%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Iranian 6% Romanian 5% Polish 5%
• Foreign-born: 1%
• Languages at home: 90% English-only · German/W. Germanic 9%

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: ▲ 3.81%
• Current HPI: 346.9299
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.68%
• F500 in state: 34

Industry mix (Fortune 500 HQ in PA)

Industry	F500 HQs	Revenue
▸Healthcare	2	$309B
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

Price history

+302.8% since first listed

8 events — show timeline

• 2026-04-04 Listed $159,900 UNYREIS
• 2026-03-19 Listed $159,900 UNYREIS
• 2020-08-03 Sold (MLS) $80,000 UNYREIS
• 2020-07-31 Sold (Public Records) $80,000 Public Records
• 2020-06-19 Pending — UNYREIS
• 2020-03-07 Price Changed $89,000 UNYREIS
• 2019-12-02 Listed $98,000 UNYREIS
• 2003-04-25 Sold (Public Records) $39,700 Public Records

Property tax history

+1.0%/yr

Latest (2025): $1,998 · +2.0% YoY. Source: county tax records.