59 N Franklin St · Cattaraugus, NY 14719

$57,000

3 bd · 1.0 ba · 1,752 sqft · SingleFamily public records · 225 Days on market

Built 1900 0.72 ac lot Est $100k · 43% under ↓ 5% since listing

---

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 +10.0/10.0
• Schools +3.9/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This property is being offered as is, where is, with clear title only being provided. Septic inspection and a survey if needed will be the responsibility of the purchaser. This is a large double lot, on a dead end Street, with the school property being directly behind it. The house has good floor space. Needing rehab, basically a shell ready for you to lay out how you would like. Ample square footage allows for multiple bedrooms and bathrooms. The basement stairs are broken/missing, please do not go down them. There is a large two-story barn with a concrete pad in the front for you to park your vehicle. Ample room for a garden and space to build a nice garage. All utilities are currently of

Key facts

• Concrete pad
• Large two story barn
• Built ins in kitchen

Tags

• LARGE DOUBLE LOT
• DEAD END STREET
• LARGE TWO STORY BARN
• CONCRETE PAD
• AMPLE ROOM FOR GARDEN
• BUILT INS IN KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $57k.

Deal economics

• At list price, monthly cash flow is $472 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $57k).
• Recommended offer: $50k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#973 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: employment C-, crime F, amenities F.
• Cattaraugus-Little Valley Central School District (rural): math 42% / reading 49% proficiency, ranked #460 of 590 in NY (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cattaraugus-Little Valley Elementary School (math 42% / reading 52%, grade D-, #1,195 of 2,108 statewide, top 60%, 334 students, 55% FRL); Cattaraugus-Little Valley Middle School (math 22% / reading 47%, grade F, #483 of 729 statewide, top 68%, 255 students, 53% FRL); Cattaraugus-Little Valley High School (math 92%, 251 students, 48% FRL).
• Market conditions: 21 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 $6k of equity ($394 loan paydown + $6k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~2 years — after that, you're playing with house money.
• 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 225 days — a 12% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $3k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,160 (12.0% below list)

Questions for the listing agent

1. It's been on market 225 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.01% ✓
• Cap rate: 16.23%
• Cash-on-cash: 35.51%
• DSCR: 2.58
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $99,864
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
133 Jefferson St	0.30mi	2/1.0 (-1)	1,666 (-5%)	2mo	$126,000	$76	71
110 Waverly St	0.40mi	3/2.0	1,840 (+5%)	6mo	$105,000	$57	64
74 Leavenworth St	0.52mi	3/2.0	1,800 (+3%)	23mo	$100,000	$56	48
75 Washington St	0.41mi	3/2.0	1,536 (-12%)	19mo	$155,000	$101	41
5 1st St	0.66mi	4/1.5 (+1)	1,646 (-6%)	21mo	$69,000	$42	34

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: 51.6%
• Equity multiple: 4.83×
• Total profit: $61,162
• Equity at exit: $51,350

10-year hold

• IRR: 45.2%
• Equity multiple: 10.81×
• Total profit: $156,543
• Equity at exit: $110,738

Cash invested: $15,960 (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 14719

• Home prices YoY: 3.4%
• Active inventory: 21
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,146 medium
• Mortgage (P&I): −$299
• Tax from tax record: −$111 /mo · $1,329/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $472

Break-even live

Break-even rent $549

Max offer price $57,000

Occupancy floor 54%

Sensitivity live

Price	-10% $504	-5% $488	+0% $472	+5% $456	+10% $440
Rent	-10% $382	-5% $427	+0% $472	+5% $518	+10% $563
Rate	-1.0pp $501	-0.5pp $487	base $472	+0.5pp $457	+1.0pp $442

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: $14,250
• Closing costs: $1,710
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2025-12-29
   status Pending
2. 2025-11-18
   status Active
3. 2025-11-14
   historical
4. 2025-06-15
   price $57,000
5. 2025-05-14
   listed $60,000 Active

ⓘ 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: $1,329 · $111/mo
• Projected year-2 tax: $1,329 · $111/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 1/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥90°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,757
• − Mortgage interest: −$3,193
• − Property taxes: −$1,329
• − Insurance: −$285
• − Repairs & maintenance: −$1,101
• − Management: −$1,101
• − Depreciation: −$1,658
• Taxable income: $5,091
• Est. tax owed @ 24.0%: −$1,222
• After-tax cash flow: $4,445/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: Cattaraugus-Little Valley Central School District
• NCES district ID: 3600024
• Math proficiency: 42% ▼ -15.00%
• Reading proficiency: 49% ▲ 3.00%
• Median HH income: $45,623
• Composite: 38.61/100
• National rank: #4159
• State rank: #460 of 590 in NY

Livability — Cattaraugus

• Score: 60/100
• State rank: #973
• US rank: #19013

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cattaraugus, NY
• Population (ZIP): 3,334

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 (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Romanian 9% Lithuanian 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · German/W. Germanic 3% 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: ▲ 10.94%
• Current HPI: 331.9433
• 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

-5.0% since first listed

5 events — show timeline

• 2025-12-29 Pending — UNYREIS
• 2025-11-18 Relisted — UNYREIS
• 2025-11-14 Listing Removed — UNYREIS
• 2025-06-15 Price Changed $57,000 UNYREIS
• 2025-05-14 Listed $60,000 UNYREIS

Property tax history

+5.7%/yr

Latest (2025): $1,329 · +12.0% YoY. Source: county tax records.