23 S Main St · Castile, NY 14427

$124,900

3 bd · 1.0 ba · 1,389 sqft · SingleFamily public records · 43 Days on market

Built 1900 0.39 ac lot $90/sqft · 38% below area Est $200k · 38% 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).

• ARV discount +15.0/15.0
• Cash flow +13.2/30.0
• Appreciation +5.4/10.0
• 1% rule +4.8/10.0
• Schools +4.6/10.0
• DSCR +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Very nice home with lots of updates. New roof newer windows, drywall, open stairway , natural woodwork, fire place with gas insert. 3 nice size bedrooms with room for 4th.

Key facts

• Covered front porch
• Formal dining room
• Additional den

Tags

• COVERED FRONT PORCH
• FIRST FLOOR
• FORMAL DINING ROOM
• ADDITIONAL DEN
• BASEMENT LAUNDRY
• NEARBY LETCHWORTH STATE PARK

Property features AI

Exterior

• Parking: No garage
• Utilities: Electricity connected (circuit breakers); Public water connected; Sewer connected
• Home design: Single-story; Resale property; Rectangular lot (85 x 200); Faces a main thoroughfare
• Construction: Wood siding; Copper plumbing; Poured foundation; Existing (established) construction
• Exterior features: Gravel driveway; Covered porch

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Refrigerator; Gas water heater
• Flooring: Hardwood; Laminate; Varied flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air gas heating; Window air conditioning units
• Interior features: Ceiling fan(s); Den; Separate formal dining room; Separate formal living room; Natural woodwork; Full basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $-58 ($-693/yr) — negative.
• To cash-flow at today's rent, offer at most $115k (8.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (2.2% below list).
• Recommended offer: $115k (8.2% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 63/100 on livability (#792 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: crime F, amenities F, commute F.
• Letchworth Central School District (rural): math 52% / reading 57% proficiency, ranked #318 of 590 in NY (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Letchworth Elementary School (math 72% / reading 62%, grade B+, #525 of 2,108 statewide, top 27%, 368 students, 44% FRL); Letchworth Middle School (math 34% / reading 54%, grade D, #363 of 729 statewide, top 50%, 278 students, 49% FRL); Letchworth Senior High School (math 95% / reading 75%, grade A, #369 of 1,100 statewide, top 34%, 269 students, 41% FRL) — zoned schools average 44% FRL vs 29% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 16 active listings in the ZIP; 83 units permitted in Wyoming County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($864 loan paydown + $914 appreciation (0.7% local appreciation)).
• Wyoming County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y 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 $69k; list at $125k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,696 (8.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.98% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.08%
• DSCR: 1.00
• GRM: 8.5

CMA / ARV

• ARV (median comp): $199,931
• List price: $124,900
• Delta: -37.53%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7 W Railroad St	0.43mi	3/1.0	1,583 (+14%)	7mo	$185,000	$117	51
28 Liberty St	0.53mi	3/1.0	1,200 (-14%)	21mo	$181,250	$151	35

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

Projected returns pro-forma

0.73% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.6%
• Equity multiple: 0.92×
• Total profit: $-2,858
• Equity at exit: $40,903

10-year hold

• IRR: 3.6%
• Equity multiple: 1.42×
• Total profit: $14,716
• Equity at exit: $53,038

Cash invested: $34,972 (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 14427

• Home prices YoY: 0.3%
• Active inventory: 16
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,222 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$261 /mo · $3,127/yr
• Insurance: −$52
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $-58

Break-even live

Break-even rent $1,295

Max offer price $114,696

Occupancy floor 100%

Sensitivity live

Price	-10% $13	-5% $-22	+0% $-58	+5% $-93	+10% $-128
Rent	-10% $-154	-5% $-106	+0% $-58	+5% $-9	+10% $39
Rate	-1.0pp $5	-0.5pp $-26	base $-58	+0.5pp $-90	+1.0pp $-123

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $124,900 Active 43 DOM
2. 2026-06-21
   days on market $124,900 Active 42 DOM
3. 2026-06-18
   days on market $124,900 Active 40 DOM
4. 2026-06-17
   days on market $124,900 Active 39 DOM
5. 2026-06-17
   price $124,900 Active 38 DOM
6. 2026-06-16
   days on market $129,900 Active 38 DOM
7. 2026-06-15
   days on market $129,900 Active 37 DOM
8. 2026-06-13
   days on market $129,900 Active 35 DOM
9. 2026-06-12
   days on market $129,900 Active 34 DOM
10. 2026-06-09
    days on market $129,900 Active 31 DOM
11. 2026-06-08
    days on market $129,900 Active 30 DOM
12. 2026-06-07
    days on market $129,900 Active 29 DOM
13. 2026-06-05
    days on market $129,900 Active 27 DOM
14. 2026-06-04
    days on market $129,900 Active 25 DOM
15. 2026-06-02
    days on market $129,900 Active 24 DOM
16. 2026-06-01
    days on market $129,900 Active 23 DOM
17. 2026-05-31
    days on market $129,900 Active 22 DOM
18. 2026-05-09
    listed $129,900 Active 993-char remark
19. 2019-08-31
    historical
20. 2019-05-14
    listed $82,000 Active
21. 2012-05-17
    soldstatus $69,000

    Show marketing remark (171 chars)

    Very nice home with lots of updates. New roof newer windows, drywall, open stairway , natural woodwork, fire place with gas insert. 3 nice size bedrooms with room for 4th.

22. 2012-05-17
    soldstatus $69,000

    Show marketing remark (171 chars)

    Very nice home with lots of updates. New roof newer windows, drywall, open stairway , natural woodwork, fire place with gas insert. 3 nice size bedrooms with room for 4th.

23. 2011-06-21
    listed $69,900

    Show marketing remark (171 chars)

    Very nice home with lots of updates. New roof newer windows, drywall, open stairway , natural woodwork, fire place with gas insert. 3 nice size bedrooms with room for 4th.

24. 1998-06-11
    soldstatus $53,900

ⓘ 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: $3,127 · $261/mo
• Projected year-2 tax: $3,127 · $261/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 8/10 Severe FEMA zone X · 78% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 16 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: $14,664
• − Mortgage interest: −$6,996
• − Property taxes: −$3,127
• − Insurance: −$1,291
• − Repairs & maintenance: −$1,173
• − Management: −$1,173
• − Depreciation: −$3,633
• Taxable loss: −$2,730
• Est. tax savings @ 24.0%: +$655
• After-tax cash flow: $-38/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: Letchworth Central School District
• NCES district ID: 3617130
• Math proficiency: 52% ▼ -6.00%
• Reading proficiency: 57% ▲ 14.00%
• Median HH income: $48,908
• Composite: 46.4/100
• National rank: #2457
• State rank: #318 of 590 in NY

Livability — Castile

• Score: 63/100
• State rank: #792
• US rank: #15197

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Castile, NY
• Population (ZIP): 1,875

Population outlook (Wyoming County) Hauer SSP2

• Today (2025): 38,976 people
• By 2030: 37,826 · -3.0%
• By 2040: 35,585 · -8.7%
• By 2050: 32,841 · -15.7%
• By 2075: 25,920 · -33.5%
• By 2100: 19,082 · -51.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 3% Black 1%
• Common ancestry: Romanian 10% Iranian 4% Lithuanian 3%
• Foreign-born: 1%

Political lean MEDSL · Wyoming

• 2024 margin: Solid R (+48.2) · D 25.9% · R 74.1%
• 2008→2024 swing: -22.1pp toward R · 2008: -26.1pp · 2024: -48.2pp
• All cycles: 2024: R+48.2 2020: R+45.5 2016: R+51.0 2012: R+29.6 2008: R+26.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.73%
• Current HPI: 256.065
• 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

+131.7% since first listed

8 events — show timeline

• 2026-06-16 Price Changed $124,900 WNYREIS
• 2026-05-09 Listed $129,900 WNYREIS
• 2019-08-31 Listing Removed — WNYREIS
• 2019-05-14 Listed $82,000 WNYREIS
• 2012-05-17 Sold (Public Records) $69,000 Public Records
• 2012-05-17 Sold (MLS) $69,000 WNYREIS
• 2011-06-21 Listed $69,900 WNYREIS
• 1998-06-11 Sold (Public Records) $53,900 Public Records

Property tax history

+3.7%/yr

Latest (2025): $3,127 · +5.5% YoY. Source: county tax records.