260 Main St · Richburg, NY 14715

$39,900

4 bd · 1.5 ba · 1,728 sqft · SingleFamily public records · 14 Days on market

Built 1920 0.38 ac lot Est $76k · 48% under ↓ 20% since listing

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.2/10.0
• Schools +4.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

BANK OWNED FORECLOSURE. THIS 4 BEDROOM 1.5 BATH HOME IS LOCATED IN A RURAL AREA WITH A LARGE PRIVATE LOT. SOLD AS IS WITH NEWER FURNACE AND NEWER HOT WATER TANK.

Key facts

• 0.38 acre lot
• Garage
• Built 1920

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Sewer connected; Water available (public); Water source: public
• Home design: Two-story home; Existing structure
• Construction: Vinyl siding; Composition roof; Poured and slab foundation; Built (existing)
• Exterior features: Gravel driveway; Greenbelt; Irregular lot

Interior

• Kitchen: Electric water heater (appliance listed)
• Bedrooms: One main-level bedroom
• Flooring: Hardwood; Varies
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Heat pump; Central air; Electric heating
• Interior features: Pantry; Hardwood and varied flooring; Two fireplaces
• Laundry & utility: Heat pump provides heating and cooling

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $742 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).

Location & tenants

• Location reads 60/100 on livability (#994 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, health & safety D, schools D-.
• 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 $2k of equity ($276 loan paydown + $2k 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 7y 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.
• Current owner paid $20k; list at $40k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,900

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 3.23% ✓
• Cap rate: 28.60%
• Cash-on-cash: 79.66%
• DSCR: 4.54
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $76,032
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
267 Main St	0.03mi	3/1.5 (-1)	1,768 (+2%)	6mo	$77,503	$44	84

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: 85.2%
• Equity multiple: 5.93×
• Total profit: $55,085
• Equity at exit: $21,160

10-year hold

• IRR: 83.8%
• Equity multiple: 12.32×
• Total profit: $126,423
• Equity at exit: $35,373

Cash invested: $11,172 (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: 2.6×

Monthly cashflow live

• Estimated rent: $1,288 medium
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $742

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 37%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $39,900 Active 14 DOM
2. 2026-06-17
   days on market $39,900 Active 13 DOM
3. 2026-06-16
   days on market $39,900 Active 12 DOM
4. 2026-06-15
   days on market $39,900 Active 11 DOM
5. 2026-06-13
   days on market $39,900 Active 9 DOM
6. 2026-06-12
   days on market $39,900 Active 8 DOM
7. 2026-06-09
   days on market $39,900 Active 5 DOM
8. 2026-06-08
   days on market $39,900 Active 4 DOM
9. 2026-06-07
   days on market $39,900 Active 3 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $39,900 Active 2 DOM

ⓘ 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 4/10 Moderate FEMA zone X · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 8 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: $15,453
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$1,236
• − Management: −$1,236
• − Depreciation: −$1,161
• Taxable income: $8,787
• Est. tax owed @ 24.0%: −$2,109
• After-tax cash flow: $6,790/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 — Richburg

• Score: 60/100
• State rank: #994
• US rank: #19418

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: Richburg, NY
• City population: 322
• 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

-20.2% since first listed

6 events — show timeline

• 2026-06-04 Listed $39,900 WNYREIS
• 2020-03-18 Sold (MLS) $19,500 WNYREIS
• 2020-02-04 Listed $19,500 WNYREIS
• 2020-02-04 Listing Removed — WNYREIS
• 2019-12-31 Listed $20,800 WNYREIS
• 2010-11-05 Sold (Public Records) $50,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $2,745 · +2.8% YoY. Source: county tax records.