8 Colwell St · Portville, NY 14770

$139,000

4 bd · 2.0 ba · 1,248 sqft · MultiFamily public records · 17 Days on market

Built 1900 6,510 sqft 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
• DSCR +10.0/10.0
• Appreciation +8.8/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• Livability +3.1/5.0
• 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: 2 units. confirmed

Listing remarks

Attention Investors! Here's an outstanding opportunity to add a fully renovated, income-producing property to your portfolio. This well-maintained duplex features two spacious units, each offering 3 bedrooms, laid out identically and currently rented for $900 per month, providing immediate cash flow. Tenants pay their own separate utilities, helping to maximize your return on investment. Over the years, the property has undergone extensive renovations and updates, including flooring, walls, windows, siding, plumbing, electrical systems, furnaces, hot water tanks, and much more. With strong rental history, separate utilities, and major capital improvements already completed, this turnkey inv

Key facts

• Fully renovated
• Separate utilities
• 6,510 sq ft lot

Tags

• FULLY RENOVATED
• INCOME PRODUCING PROPERTY
• WELL MAINTAINED DUPLEX
• EXTENSIVE RENOVATIONS
• STRONG RENTAL HISTORY
• SEPARATE UTILITIES

Property features AI

Finance

• Other: Two-unit building with separate gas and electric meters (2 each)
• Financial info: Tenants pay all utilities; Operating expenses include insurance

Exterior

• Parking: Two or more parking spaces
• Utilities: Public water connected; Sewer connected
• Home design: 2-story property; Resale condition; Vinyl siding
• Construction: Vinyl siding construction; Existing (built previously)
• Exterior features: Near public transit; Rectangular residential lot; City street frontage

Interior

• Flooring: Laminate; Varies by area
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Laminate and varied flooring
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $139k.

Deal economics

• At list price, monthly cash flow is $540 ($6k/yr) — positive. Per door: $270/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $137k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#877 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, health & safety D, crime F.
• Portville Central School District (rural): math 63% / reading 65% proficiency, ranked #190 of 590 in NY (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Portville Elementary School (math 60% / reading 62%, grade B, #736 of 2,108 statewide, top 35%, 518 students, 46% FRL); Portville Junior-Senior High School (math 67% / reading 72%, grade B, #715 of 1,100 statewide, top 67%, 450 students, 47% FRL) — zoned schools average 46% FRL vs 30% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 25 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 ($961 loan paydown + $11k appreciation (7.7% 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 (7.7% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($137k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

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

Recommended offer $136,915 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.33% ✓
• Cap rate: 10.95%
• Cash-on-cash: 16.64%
• DSCR: 1.74
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.68% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.4%
• Equity multiple: 3.28×
• Total profit: $88,834
• Equity at exit: $102,615

10-year hold

• IRR: 29.1%
• Equity multiple: 6.96×
• Total profit: $232,150
• Equity at exit: $200,906

Cash invested: $38,920 (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 14770

• Home prices YoY: 2.9%
• Active inventory: 25
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $1,842 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$129 /mo · $1,542/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $540

Break-even live

Break-even rent $1,159

Max offer price $139,000

Occupancy floor 66%

Sensitivity live

Price	-10% $618	-5% $579	+0% $540	+5% $500	+10% $461
Rent	-10% $394	-5% $467	+0% $540	+5% $613	+10% $685
Rate	-1.0pp $610	-0.5pp $575	base $540	+0.5pp $504	+1.0pp $467

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$1,842
Total (2 units)			$1,842

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-21
   days on market $139,000 Active 17 DOM
2. 2026-06-21
   days on market $139,000 Active 16 DOM
3. 2026-06-18
   days on market $139,000 Active 14 DOM
4. 2026-06-17
   days on market $139,000 Active 13 DOM
5. 2026-06-16
   days on market $139,000 Active 12 DOM
6. 2026-06-15
   days on market $139,000 Active 11 DOM
7. 2026-06-13
   days on market $139,000 Active 9 DOM
8. 2026-06-12
   days on market $139,000 Active 8 DOM
9. 2026-06-09
   days on market $139,000 Active 5 DOM
10. 2026-06-08
    days on market $139,000 Active 4 DOM
11. 2026-06-07
    days on market $139,000 Active 3 DOM
12. 2026-06-07
    remarks 699-char remark
13. 2026-06-07
    listed $139,000 Active 2 DOM

ⓘ 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: $1,542 · $129/mo
• Projected year-2 tax: $1,946 · $162/mo
• Expected delta: +$403/yr (+$34/mo · 26.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 70% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥90°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: $22,104
• − Mortgage interest: −$7,786
• − Property taxes: −$1,542
• − Insurance: −$695
• − Repairs & maintenance: −$1,768
• − Management: −$1,768
• − Depreciation: −$4,044
• Taxable income: $4,500
• Est. tax owed @ 24.0%: −$1,080
• After-tax cash flow: $5,398/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: Portville Central School District
• NCES district ID: 3623640
• Math proficiency: 63% ▲ 1.00%
• Reading proficiency: 65% ▲ 5.00%
• Median HH income: $52,207
• Composite: 54.6/100
• National rank: #1337
• State rank: #190 of 590 in NY

Livability — Portville

• Score: 62/100
• State rank: #877
• US rank: #17008

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portville, NY
• Population (ZIP): 2,805

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 (93%)
• Race & ethnicity: White 93% Two or more races 4% Black 2%
• Common ancestry: Romanian 8% Slovak 4% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Spanish 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: ▲ 7.68%
• Current HPI: 276.8841
• 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

+280.8% since first listed

8 events — show timeline

• 2026-06-04 Listed $139,000 UNYREIS
• 2022-04-18 Relisted — WNYREIS
• 2021-12-31 Listing Removed — WNYREIS
• 2021-08-12 Pending — WNYREIS
• 2021-05-13 Relisted — WNYREIS
• 2021-05-12 Pending — WNYREIS
• 2021-04-29 Pending — WNYREIS
• 2021-04-12 Listed $36,500 WNYREIS

Property tax history

-2.4%/yr

Latest (2025): $1,542 · +9.9% YoY. Source: county tax records.