31 S Franklin St · Wellsville, NY 14895

$105,000

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 13 Days on market

Built 1920 0.43 ac lot $122/sqft · 12% below area Est $119k · 12% under

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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 +16.7/30.0
• ARV discount +12.8/15.0
• Appreciation +10.0/10.0
• 1% rule +5.3/10.0
• DSCR +5.2/10.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Cozy 2 Bedroom Bungalow located on a neighborhood street, on the outskirts of the village. The home has beautifully restored hardwood floors and tile in the bathroom and kitchen. The kitchen was remodeled around 2011 and has a new double basin sink. The kitchen offers a newer refrigerator, gas range and built-in dishwasher. There is a deck conveniently accessed from the back of the home and leads to a side door to the garage. The garage offers electric and extra storage in the attic, with a full concrete floor. This property offers a large 0.44 acre lot with water drainage work completed at the lower level of the lot. The exterior offers a built-on shed for lawn equipment and storage at the rear. The basement is dry and has a full concrete floor, newer electric hot water tank. Electric service is breakers and laundry hook-ups are in the basement. This would make a nice home for an older couple or smaller family. Worth mentioning. .. . Village electric is very affordable and this home has supplemental electric heat conveniently located in the center of the home.

Key facts

• Country kitchen
• Hardwood flooring
• Formal dining room

Tags

• BUNGALOW
• QUIET NEIGHBORHOOD STREET
• COUNTRY KITCHEN
• SPACIOUS LIVING AREA
• FORMAL DINING ROOM
• HARDWOOD FLOORING

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Public water connected; Sewer connected; Cable available; High-speed internet available
• Home design: Single-story home; Existing/resale property
• Construction: Vinyl siding; Block foundation; Built as existing (year built: existing)
• Exterior features: Covered porch; Deck; Gravel driveway; Rectangular residential lot; City street frontage; Lot dimensions approximately 55 x 351

Interior

• Kitchen: Gas oven and gas range; Range hood; Dishwasher; Refrigerator; Exhaust fan
• Bedrooms: 2 bedrooms on the main level
• Flooring: Hardwood flooring; Varied flooring
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Gas forced-air heating
• Interior features: Ceiling fan(s); Separate/formal dining room; Separate/formal living room; Natural woodwork; Main-level primary bedroom; Bedroom on main level; Walk-out basement access
• Laundry & utility: Washer and dryer; Laundry located in the basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $65 ($774/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).

Location & tenants

• Location reads 73/100 on livability (#336 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, crime C-, employment C-.
• Wellsville Central School District (town): math 42% / reading 53% proficiency, ranked #442 of 590 in NY (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 52 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 87 units permitted in Allegany County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($726 loan paydown + $10k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $29k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.
• Current owner paid $56k; list at $105k implies a 89% 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 $105,000

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. 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.
4. 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.
5. 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: 1.03% ✓
• Cap rate: 7.03%
• Cash-on-cash: 2.63%
• DSCR: 1.12
• GRM: 8.1

CMA / ARV

• ARV (median comp): $118,878
• List price: $105,000
• Delta: -11.67%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
97 Williams Ave	0.39mi	3/1.0 (+1)	975 (+13%)	4mo	$123,000	$126	52

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

Projected returns pro-forma

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

5-year hold

• IRR: 26.2%
• Equity multiple: 3.09×
• Total profit: $61,352
• Equity at exit: $94,592

10-year hold

• IRR: 23.0%
• Equity multiple: 7.04×
• Total profit: $177,554
• Equity at exit: $203,992

Cash invested: $29,400 (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 14895

• Home prices YoY: 6.9%
• Active inventory: 52
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,084 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$198 /mo · $2,372/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $65

Break-even live

Break-even rent $1,003

Max offer price $105,000

Occupancy floor 89%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
50 S Brooklyn Ave Unit 3 Wellsville, NY	1.0	1.0	800	$750	$0.94	44d	1	0.89mi
46 Pine St Wellsville, NY	3.0	2.0	1000	$1,450	$1.45	44d	1	0.91mi

Listing history 7 events

1. 2026-05-14
   listed $105,000 Active 1053-char remark
2. 2022-04-01
   soldstatus $55,500
3. 2022-03-30
   soldstatus $55,500 Closed Sale or Rented 1077-char remark

   Show marketing remark (1077 chars)

   Cozy 2 Bedroom Bungalow located on a neighborhood street, on the outskirts of the village. The home has beautifully restored hardwood floors and tile in the bathroom and kitchen. The kitchen was remodeled around 2011 and has a new double basin sink. The kitchen offers a newer refrigerator, gas range and built-in dishwasher. There is a deck conveniently accessed from the back of the home and leads to a side door to the garage. The garage offers electric and extra storage in the attic, with a full concrete floor. This property offers a large 0.44 acre lot with water drainage work completed at the lower level of the lot. The exterior offers a built-on shed for lawn equipment and storage at the rear. The basement is dry and has a full concrete floor, newer electric hot water tank. Electric service is breakers and laundry hook-ups are in the basement. This would make a nice home for an older couple or smaller family. Worth mentioning. .. . Village electric is very affordable and this home has supplemental electric heat conveniently located in the center of the home.

4. 2022-01-22
   status Under Contract- Do Not Show 1077-char remark

   Show marketing remark (1077 chars)

   Cozy 2 Bedroom Bungalow located on a neighborhood street, on the outskirts of the village. The home has beautifully restored hardwood floors and tile in the bathroom and kitchen. The kitchen was remodeled around 2011 and has a new double basin sink. The kitchen offers a newer refrigerator, gas range and built-in dishwasher. There is a deck conveniently accessed from the back of the home and leads to a side door to the garage. The garage offers electric and extra storage in the attic, with a full concrete floor. This property offers a large 0.44 acre lot with water drainage work completed at the lower level of the lot. The exterior offers a built-on shed for lawn equipment and storage at the rear. The basement is dry and has a full concrete floor, newer electric hot water tank. Electric service is breakers and laundry hook-ups are in the basement. This would make a nice home for an older couple or smaller family. Worth mentioning. .. . Village electric is very affordable and this home has supplemental electric heat conveniently located in the center of the home.

5. 2021-12-29
   listed $62,000 Active 1077-char remark

   Show marketing remark (1077 chars)

   Cozy 2 Bedroom Bungalow located on a neighborhood street, on the outskirts of the village. The home has beautifully restored hardwood floors and tile in the bathroom and kitchen. The kitchen was remodeled around 2011 and has a new double basin sink. The kitchen offers a newer refrigerator, gas range and built-in dishwasher. There is a deck conveniently accessed from the back of the home and leads to a side door to the garage. The garage offers electric and extra storage in the attic, with a full concrete floor. This property offers a large 0.44 acre lot with water drainage work completed at the lower level of the lot. The exterior offers a built-on shed for lawn equipment and storage at the rear. The basement is dry and has a full concrete floor, newer electric hot water tank. Electric service is breakers and laundry hook-ups are in the basement. This would make a nice home for an older couple or smaller family. Worth mentioning. .. . Village electric is very affordable and this home has supplemental electric heat conveniently located in the center of the home.

6. 2003-03-07
   soldstatus $25,000
7. 2002-01-11
   soldstatus $10,000

ⓘ 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: $2,372 · $198/mo
• Projected year-2 tax: $2,372 · $198/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 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: $13,011
• − Mortgage interest: −$5,882
• − Property taxes: −$2,372
• − Insurance: −$525
• − Repairs & maintenance: −$1,041
• − Management: −$1,041
• − Depreciation: −$3,055
• Taxable loss: −$904
• Est. tax savings @ 24.0%: +$217
• After-tax cash flow: $991/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: Wellsville Central School District
• NCES district ID: 3630480
• Math proficiency: 42% ▼ -10.00%
• Reading proficiency: 53% ▲ 6.00%
• Median HH income: $39,964
• Composite: 39.71/100
• National rank: #3903
• State rank: #442 of 590 in NY

Livability — Wellsville

• Score: 73/100
• State rank: #336
• US rank: #5669

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wellsville, NY
• Population (ZIP): 9,117

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 (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Slovak 3% Italian 3% Romanian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · German/W. Germanic 1%

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: ▲ 18.16%
• Current HPI: 280.3569
• 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

+950.0% since first listed

8 events — show timeline

• 2026-05-27 Pending — UNYREIS
• 2026-05-14 Listed $105,000 UNYREIS
• 2022-04-01 Sold (Public Records) $55,500 Public Records
• 2022-03-30 Sold (MLS) $55,500 UNYREIS
• 2022-01-22 Pending — UNYREIS
• 2021-12-29 Listed $62,000 UNYREIS
• 2003-03-07 Sold (Public Records) $25,000 Public Records
• 2002-01-11 Sold (Public Records) $10,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $2,372 · -1.7% YoY. Source: county tax records.