115 1st St · Bolivar, NY 14715

$19,900

3 bd · 1.5 ba · 2,014 sqft · SingleFamily public records · 33 Days on market

Built 1924 5,227 sqft lot $10/sqft · 81% below area ↓ 49% since listing

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +7.2/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.2/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Spacious opportunity in Bolivar! This 2,014 sq ft home offers a solid footprint with 3 bedrooms, 1.5 bathrooms, and plenty of potential. Enjoy the charm of the covered front porch, perfect for relaxing. The layout provides a great starting point for a full renovation, with the possibility to easily create a 4th bedroom to maximize value and functionality. Design a dream home from the ground up, this property is ready for transformation. All utilities are currently off, and the property is being sold as-is.

Key facts

• Covered front porch
• Full renovation
• 5,227 sq ft lot

Tags

• COVERED FRONT PORCH
• FULL RENOVATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $859 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Recommended offer: $19k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#644 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, schools D, crime F.
• Bolivar-Richburg Central School District (rural): math 50% / reading 51% proficiency, ranked #395 of 590 in NY (top 67%) — 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 ($138 loan paydown + $875 appreciation (4.4% 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 (4.4% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($19k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $10k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $20k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $19,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 6.34% ✓
• Cap rate: 58.07%
• Cash-on-cash: 184.91%
• DSCR: 9.23
• GRM: 1.3

CMA / ARV

• ARV (median comp): $103,344
• List price: $19,900
• Delta: -80.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
51 Olean St	0.12mi	3/1.5	2,096 (+4%)	6mo	$120,000	$57	82
59 First St	0.22mi	3/2.0	1,808 (-10%)	1mo	$95,000	$53	70
175 Salt Rising Rd	0.47mi	3/1.5	2,088 (+4%)	7mo	$163,000	$78	66
48 Olean St	0.15mi	3/1.5	2,280 (+13%)	7mo	$155,000	$68	65
73 Olive St	0.24mi	4/2.0 (+1)	1,948 (-3%)	15mo	$12,500	$6	64
190 N Main St	0.30mi	4/1.5 (+1)	2,000 (-1%)	23mo	$145,900	$73	61
97 Plum St	0.26mi	2/1.0 (-1)	1,938 (-4%)	20mo	$82,000	$42	57
161 Wellsville St	0.42mi	3/2.0	1,728 (-14%)	5mo	$132,500	$77	50

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

Projected returns pro-forma

4.4% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 11.52×
• Total profit: $58,611
• Equity at exit: $10,554

10-year hold

• IRR: —
• Equity multiple: 24.38×
• Total profit: $130,289
• Equity at exit: $17,642

Cash invested: $5,572 (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 14715

• Home prices YoY: 1.4%
• Active inventory: 20
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $1,261 medium
• Mortgage (P&I): −$104
• Tax est. 1.5%: −$25 /mo · $298/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $859

Break-even live

Break-even rent $174

Max offer price $19,900

Occupancy floor 27%

Sensitivity live

Price	-10% $872	-5% $865	+0% $859	+5% $852	+10% $845
Rent	-10% $759	-5% $809	+0% $859	+5% $908	+10% $958
Rate	-1.0pp $869	-0.5pp $864	base $859	+0.5pp $853	+1.0pp $848

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: $4,975
• Closing costs: $597
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-05
   price $19,900 511-char remark

   Show marketing remark (511 chars)

   Spacious opportunity in Bolivar! This 2,014 sq ft home offers a solid footprint with 3 bedrooms, 1.5 bathrooms, and plenty of potential. Enjoy the charm of the covered front porch, perfect for relaxing. The layout provides a great starting point for a full renovation, with the possibility to easily create a 4th bedroom to maximize value and functionality. Design a dream home from the ground up, this property is ready for transformation. All utilities are currently off, and the property is being sold as-is.

2. 2026-04-18
   listed $29,900 Active 511-char remark

   Show marketing remark (511 chars)

   Spacious opportunity in Bolivar! This 2,014 sq ft home offers a solid footprint with 3 bedrooms, 1.5 bathrooms, and plenty of potential. Enjoy the charm of the covered front porch, perfect for relaxing. The layout provides a great starting point for a full renovation, with the possibility to easily create a 4th bedroom to maximize value and functionality. Design a dream home from the ground up, this property is ready for transformation. All utilities are currently off, and the property is being sold as-is.

3. 2021-01-11
   soldstatus $12,000 Closed Sale or Rented 186-char remark

   Show marketing remark (186 chars)

   This has such potential for the right buyer with the vision to renovate. Great foundation, location and woodwork. All is needed is some good old fashion ambition and this could be a gem!

4. 2021-01-08
   status Pending Sale 186-char remark

   Show marketing remark (186 chars)

   This has such potential for the right buyer with the vision to renovate. Great foundation, location and woodwork. All is needed is some good old fashion ambition and this could be a gem!

5. 2021-01-08
   status Active 186-char remark

   Show marketing remark (186 chars)

   This has such potential for the right buyer with the vision to renovate. Great foundation, location and woodwork. All is needed is some good old fashion ambition and this could be a gem!

6. 2020-09-08
   status Pending Sale 186-char remark

   Show marketing remark (186 chars)

   This has such potential for the right buyer with the vision to renovate. Great foundation, location and woodwork. All is needed is some good old fashion ambition and this could be a gem!

7. 2020-08-18
   status Under Contract- Do Not Show 186-char remark

   Show marketing remark (186 chars)

   This has such potential for the right buyer with the vision to renovate. Great foundation, location and woodwork. All is needed is some good old fashion ambition and this could be a gem!

8. 2020-06-16
   listed $20,000 Active 186-char remark

   Show marketing remark (186 chars)

   This has such potential for the right buyer with the vision to renovate. Great foundation, location and woodwork. All is needed is some good old fashion ambition and this could be a gem!

9. 2013-07-08
   soldstatus $38,700

ⓘ 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 6/10 Major FEMA zone X · 68% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 9 d/yr ≥88°F today · 21 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: $15,131
• − Mortgage interest: −$1,115
• − Property taxes: −$298
• − Insurance: −$100
• − Repairs & maintenance: −$1,211
• − Management: −$1,211
• − Depreciation: −$579
• Taxable income: $10,619
• Est. tax owed @ 24.0%: −$2,548
• After-tax cash flow: $7,755/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: Bolivar-Richburg Central School District
• NCES district ID: 3600012
• Math proficiency: 50% ▲ 9.00%
• Reading proficiency: 51% ▲ 8.00%
• Median HH income: $40,153
• Composite: 42.26/100
• National rank: #3277
• State rank: #395 of 590 in NY

Livability — Bolivar

• Score: 66/100
• State rank: #644
• US rank: #12061

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bolivar, NY
• Population (ZIP): 2,374

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 (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Slovak 3% Romanian 2% Italian 2%
• Foreign-born: 0%

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: ▲ 4.40%
• Current HPI: 312.0332
• 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

-48.6% since first listed

9 events — show timeline

• 2026-05-05 Price Changed $19,900 UNYREIS
• 2026-04-18 Listed $29,900 UNYREIS
• 2021-01-11 Sold (MLS) $12,000 WNYREIS
• 2021-01-08 Pending — WNYREIS
• 2021-01-08 Relisted — WNYREIS
• 2020-09-08 Pending — WNYREIS
• 2020-08-18 Pending — WNYREIS
• 2020-06-16 Listed $20,000 WNYREIS
• 2013-07-08 Sold (Public Records) $38,700 Public Records

Property tax history

-6.8%/yr

Latest (2025): $1,080 · +1.1% YoY. Source: county tax records.