23 Church St · Franklinville, NY 14737

$69,900

4 bd · 1.0 ba · 1,760 sqft · SingleFamily public records · 156 Days on market

Built 1900 8,911 sqft lot $40/sqft · 30% below area Est $100k · 30% under

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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 +8.0/10.0
• Schools +4.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Income-producing opportunity featuring two single-family homes on one . 20-acre lot! The property includes a 4-bedroom, 1-bath main house with a first-floor bedroom and a NEW high-efficiency furnace. Main house is occupied by a long-term, paying tenant who would prefer to stay. With a few renovations, the 1-bedroom, 1-bath house in back could be ideal for rental or in-law use. When fully occupied, the property delivers gross annual rental income of $16,200, offering immediate cash-flow potential. Updated metal roofs on both homes reduce long-term maintenance costs. NEW water meter was installed last year. Located close to village services, shops and the new multi-million dollar cheese factory in Franklinville, this property is well-positioned for rental demand growth and long-term appreciation. This versatile asset is suited for long term rentals, house-hacking or multi-generational occupancy. Property sold "as-is". Seller desires a quick sale, CASH buyers only please!

Key facts

• First-floor bedroom
• New water meter
• Village location

Tags

• FIRST-FLOOR BEDROOM
• NEW HIGH EFFICIENCY FURNACE
• UPDATED METAL ROOF
• NEW WATER METER
• VILLAGE LOCATION
• CLOSE TO SHOPS

🏷️ Possibly a rental listed for sale. The $69,900 price doesn't fit this home's estimated sale value (~$99,684) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $317 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#856 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment C-, schools D+, amenities F.
• Franklinville Central School District (rural): math 60% / reading 57% proficiency, ranked #281 of 590 in NY (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 33 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 $5k of equity ($483 loan paydown + $4k appreciation (5.9% 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 (5.9% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $70k implies a 180% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 5.0% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.82% ✓
• Cap rate: 11.74%
• Cash-on-cash: 19.44%
• DSCR: 1.86
• GRM: 4.6

CMA / ARV

• ARV (median comp): $99,684
• List price: $69,900
• Delta: -29.88%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19 1st Ave	0.24mi	4/2.0	1,712 (-3%)	12mo	$215,000	$126	70
14 2nd Ave	0.27mi	3/2.0 (-1)	1,760 (0%)	11mo	$185,000	$105	69
65 Pine St	0.40mi	3/2.0 (-1)	1,722 (-2%)	10mo	$162,000	$94	60
57 N Main St	0.24mi	3/1.0 (-1)	1,624 (-8%)	13mo	$88,000	$54	60
10 Chestnut St	0.16mi	3/1.5 (-1)	1,924 (+9%)	16mo	$210,000	$109	57
15 Maple Ave	0.45mi	4/2.0	1,664 (-6%)	15mo	$184,000	$111	54
59 N Main St	0.25mi	3/1.5 (-1)	1,568 (-11%)	16mo	$43,000	$27	50

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

Projected returns pro-forma

5.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.6%
• Equity multiple: 3.05×
• Total profit: $40,218
• Equity at exit: $43,625

10-year hold

• IRR: 29.5%
• Equity multiple: 6.26×
• Total profit: $102,856
• Equity at exit: $78,840

Cash invested: $19,572 (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 14737

• Home prices YoY: 2.0%
• Active inventory: 33
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,270 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$290 /mo · $3,484/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $317

Break-even live

Break-even rent $868

Max offer price $69,900

Occupancy floor 70%

Sensitivity live

Price	-10% $568	-5% $544	+0% $317	+5% $297	+10% $277
Rent	-10% $217	-5% $267	+0% $317	+5% $367	+10% $417
Rate	-1.0pp $352	-0.5pp $335	base $317	+0.5pp $299	+1.0pp $280

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-21
   days on market $69,900 Active 156 DOM
2. 2026-06-18
   days on market $69,900 Active 154 DOM
3. 2026-06-17
   days on market $69,900 Active 153 DOM
4. 2026-06-16
   days on market $69,900 Active 152 DOM
5. 2026-06-15
   days on market $69,900 Active 151 DOM
6. 2026-06-13
   days on market $69,900 Active 149 DOM
7. 2026-06-12
   days on market $69,900 Active 148 DOM
8. 2026-06-09
   days on market $69,900 Active 145 DOM
9. 2026-06-08
   days on market $69,900 Active 144 DOM
10. 2026-06-07
    days on market $69,900 Active 143 DOM
11. 2026-06-07
    days on market $69,900 Active 142 DOM
12. 2026-06-04
    days on market $69,900 Active 139 DOM
13. 2026-06-02
    days on market $69,900 Active 138 DOM
14. 2026-06-01
    days on market $69,900 Active 137 DOM
15. 2026-05-31
    days on market $69,900 Active 136 DOM
16. 2026-04-22
    price $69,900 993-char remark

    Show marketing remark (993 chars)

    Income-producing opportunity featuring two single-family homes on one . 20-acre lot! The property includes a 4-bedroom, 1-bath main house with a first-floor bedroom and a NEW high-efficiency furnace. Main house is occupied by a long-term, paying tenant who would prefer to stay. With a few renovations, the 1-bedroom, 1-bath house in back could be ideal for rental or in-law use. When fully occupied, the property delivers gross annual rental income of $16,200, offering immediate cash-flow potential. Updated metal roofs on both homes reduce long-term maintenance costs. NEW water meter was installed last year. Located close to village services, shops and the new multi-million dollar cheese factory in Franklinville, this property is well-positioned for rental demand growth and long-term appreciation. This versatile asset is suited for long term rentals, house-hacking or multi-generational occupancy. Property sold "as-is". Seller desires a quick sale, CASH buyers only please!

17. 2026-01-14
    listed $75,000 Active 993-char remark

    Show marketing remark (993 chars)

    Income-producing opportunity featuring two single-family homes on one . 20-acre lot! The property includes a 4-bedroom, 1-bath main house with a first-floor bedroom and a NEW high-efficiency furnace. Main house is occupied by a long-term, paying tenant who would prefer to stay. With a few renovations, the 1-bedroom, 1-bath house in back could be ideal for rental or in-law use. When fully occupied, the property delivers gross annual rental income of $16,200, offering immediate cash-flow potential. Updated metal roofs on both homes reduce long-term maintenance costs. NEW water meter was installed last year. Located close to village services, shops and the new multi-million dollar cheese factory in Franklinville, this property is well-positioned for rental demand growth and long-term appreciation. This versatile asset is suited for long term rentals, house-hacking or multi-generational occupancy. Property sold "as-is". Seller desires a quick sale, CASH buyers only please!

18. 2025-05-28
    status Pending
19. 2025-05-28
    historical
20. 2025-01-22
    price $75,000
21. 2024-12-04
    listed $84,900 Active
22. 2024-11-30
    historical
23. 2024-09-20
    price $89,900
24. 2024-06-28
    price $99,000
25. 2024-05-31
    listed $115,000 Active
26. 2024-05-23
    historical
27. 2024-05-19
    status Active
28. 2024-05-02
    status Pending
29. 2024-02-20
    price $119,900
30. 2024-01-03
    listed $134,900 Active
31. 2023-12-27
    historical
32. 2023-12-09
    listed $139,900 Active
33. 2005-07-29
    soldstatus $25,000

ⓘ 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: $3,484 · $290/mo
• Projected year-2 tax: $3,484 · $290/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 6/10 Major FEMA zone X · 69% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥88°F today · 18 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: $15,236
• − Mortgage interest: −$3,915
• − Property taxes: −$3,484
• − Insurance: −$350
• − Repairs & maintenance: −$1,219
• − Management: −$1,219
• − Depreciation: −$2,033
• Taxable income: $3,016
• Est. tax owed @ 24.0%: −$724
• After-tax cash flow: $3,080/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: Franklinville Central School District
• NCES district ID: 3611490
• Math proficiency: 60% ▲ 11.00%
• Reading proficiency: 57% ▲ 16.00%
• Median HH income: $41,110
• Composite: 49.0/100
• National rank: #2068
• State rank: #281 of 590 in NY

Livability — Franklinville

• Score: 62/100
• State rank: #856
• US rank: #16514

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklinville, NY
• Population (ZIP): 4,071

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 (85%)
• Race & ethnicity: White 85% Two or more races 9% Hispanic / Latino 5% Native American 1%
• Common ancestry: Romanian 10% Iranian 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · German/W. Germanic 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: ▲ 5.93%
• Current HPI: 305.4492
• 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

+179.6% since first listed

18 events — show timeline

• 2026-04-22 Price Changed $69,900 WNYREIS
• 2026-01-14 Listed $75,000 WNYREIS
• 2025-05-28 Pending — WNYREIS
• 2025-05-28 Listing Removed — WNYREIS
• 2025-01-22 Price Changed $75,000 WNYREIS
• 2024-12-04 Listed $84,900 WNYREIS
• 2024-11-30 Listing Removed — WNYREIS
• 2024-09-20 Price Changed $89,900 WNYREIS
• 2024-06-28 Price Changed $99,000 WNYREIS
• 2024-05-31 Listed $115,000 WNYREIS
• 2024-05-23 Listing Removed — WNYREIS
• 2024-05-19 Relisted — WNYREIS
• 2024-05-02 Pending — WNYREIS
• 2024-02-20 Price Changed $119,900 WNYREIS
• 2024-01-03 Listed $134,900 WNYREIS
• 2023-12-27 Listing Removed — WNYREIS
• 2023-12-09 Listed $139,900 WNYREIS
• 2005-07-29 Sold (Public Records) $25,000 Public Records

Property tax history

-0.1%/yr

Latest (2025): $3,484 · -0.9% YoY. Source: county tax records.