58 Bemus St · Jamestown, NY 14701

$29,900

5 bd · 2.0 ba · 1,560 sqft · MultiFamily public records · 143 Days on market

Built 1910 6,000 sqft lot $19/sqft · 71% below area ↓ 25% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.5/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Fixer upper!! Utilities have been off for more than a year and will require an inspection prior to being turned on. Property is vacant- will require some work !! Great opportunity for investors!

Key facts

• 6,000 sq ft lot
• Built 1910
• Listed 142 days

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $30k.

Deal economics

• At list price, monthly cash flow is $970 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.
• Cap rate 45.2% vs local median 16.8% in Jamestown — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#470 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, crime F, commute F.
• Jamestown City School District (town): math 33% / reading 42% proficiency, ranked #553 of 590 in NY (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Clinton V Bush Elementary School (math 42% / reading 47%, grade F, #1,277 of 2,108 statewide, top 64%, 276 students, 74% FRL); Thomas Jefferson Middle School (math 25% / reading 40%, grade F, #504 of 729 statewide, top 70%, 406 students, 79% FRL); Jamestown High School (math 87% / reading 92%, grade A+, #265 of 1,100 statewide, top 26%, 1,315 students, 80% FRL) — zoned schools average 77% FRL vs 60% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 56% at this address vs 38% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Jamestown City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 315 active listings in the ZIP; 127 units permitted in Chautauqua County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $897 of value loss. Plan a longer hold.
• Chautauqua County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 25y 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 $16k; list at $30k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $26,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 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 1910 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 4.98% ✓
• Cap rate: 45.21%
• Cash-on-cash: 138.98%
• DSCR: 7.18
• GRM: 1.7

CMA / ARV

• ARV (median comp): $101,976
• List price: $29,900
• Delta: -70.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
61 Ellicott St	0.29mi	4/2.0 (-1)	1,784 (+14%)	2mo	$55,000	$31	55
10 Eagle St	0.34mi	4/2.0 (-1)	1,760 (+13%)	5mo	$47,000	$27	54
566 Allen St	0.28mi	4/2.0 (-1)	1,672 (+7%)	23mo	$88,000	$53	51
25 Walnut St	0.65mi	4/2.0 (-1)	1,376 (-12%)	11mo	$68,000	$49	36

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

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 7.80×
• Total profit: $56,935
• Equity at exit: $4,458

10-year hold

• IRR: —
• Equity multiple: 16.43×
• Total profit: $129,191
• Equity at exit: $2,585

Cash invested: $8,372 (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 14701

• Home prices YoY: -18.5%
• Active inventory: 315
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,489 medium
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$37 /mo · $448/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $970

Break-even live

Break-even rent $262

Max offer price $29,900

Occupancy floor 30%

Sensitivity live

Price	-10% $990	-5% $980	+0% $970	+5% $959	+10% $949
Rent	-10% $852	-5% $911	+0% $970	+5% $1,028	+10% $1,087
Rate	-1.0pp $985	-0.5pp $977	base $970	+0.5pp $962	+1.0pp $954

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-21
   days on market $29,900 Active 143 DOM
2. 2026-06-19
   days on market $29,900 Active 141 DOM
3. 2026-06-18
   days on market $29,900 Active 140 DOM
4. 2026-06-17
   days on market $29,900 Active 139 DOM
5. 2026-06-16
   days on market $29,900 Active 138 DOM
6. 2026-06-15
   days on market $29,900 Active 137 DOM
7. 2026-06-14
   days on market $29,900 Active 135 DOM
8. 2026-06-12
   days on market $29,900 Active 134 DOM
9. 2026-06-09
   days on market $29,900 Active 131 DOM
10. 2026-06-08
    days on market $29,900 Active 130 DOM
11. 2026-06-07
    days on market $29,900 Active 129 DOM
12. 2026-06-05
    days on market $29,900 Active 126 DOM
13. 2026-06-02
    days on market $29,900 Active 124 DOM
14. 2026-06-01
    days on market $29,900 Active 123 DOM
15. 2026-05-31
    days on market $29,900 Active 122 DOM
16. 2026-05-30
    days on market $29,900 Active 121 DOM
17. 2026-01-29
    listed $29,900 Active 196-char remark

    Show marketing remark (196 chars)

    Fixer upper!! Utilities have been off for more than a year and will require an inspection prior to being turned on. Property is vacant- will require some work !! Great opportunity for investors!

18. 2024-03-20
    soldstatus $15,500 Closed 281-char remark

    Show marketing remark (281 chars)

    Great opportunity to own a super spacious home or convert it back into a 2 family multi-unit. No matter what, you're going to build significant equity with this purchase. Sold as is, ready for the right purchaser to take on this opportunity. Owner financing available with 8k down.

19. 2024-02-04
    status Pending

    Show marketing remark (281 chars)

    Great opportunity to own a super spacious home or convert it back into a 2 family multi-unit. No matter what, you're going to build significant equity with this purchase. Sold as is, ready for the right purchaser to take on this opportunity. Owner financing available with 8k down.

20. 2024-02-04
    status Pending 281-char remark

    Show marketing remark (281 chars)

    Great opportunity to own a super spacious home or convert it back into a 2 family multi-unit. No matter what, you're going to build significant equity with this purchase. Sold as is, ready for the right purchaser to take on this opportunity. Owner financing available with 8k down.

21. 2024-02-02
    historical
22. 2024-01-31
    price $26,000

    Show marketing remark (281 chars)

    Great opportunity to own a super spacious home or convert it back into a 2 family multi-unit. No matter what, you're going to build significant equity with this purchase. Sold as is, ready for the right purchaser to take on this opportunity. Owner financing available with 8k down.

23. 2024-01-31
    price $26,000 281-char remark

    Show marketing remark (281 chars)

    Great opportunity to own a super spacious home or convert it back into a 2 family multi-unit. No matter what, you're going to build significant equity with this purchase. Sold as is, ready for the right purchaser to take on this opportunity. Owner financing available with 8k down.

24. 2024-01-12
    listed $35,000 Active 281-char remark

    Show marketing remark (281 chars)

    Great opportunity to own a super spacious home or convert it back into a 2 family multi-unit. No matter what, you're going to build significant equity with this purchase. Sold as is, ready for the right purchaser to take on this opportunity. Owner financing available with 8k down.

25. 2024-01-12
    listed $35,000 Active

    Show marketing remark (281 chars)

    Great opportunity to own a super spacious home or convert it back into a 2 family multi-unit. No matter what, you're going to build significant equity with this purchase. Sold as is, ready for the right purchaser to take on this opportunity. Owner financing available with 8k down.

26. 2023-07-03
    status Under Contract- Do Not Show
27. 2023-06-26
    historical
28. 2023-05-25
    listed $29,999 Active
29. 2003-03-13
    soldstatus $32,000
30. 2002-08-26
    listed $35,000
31. 2001-08-13
    listed $39,900

ⓘ 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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥91°F today · 16 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: $17,868
• − Mortgage interest: −$1,675
• − Property taxes: −$448
• − Insurance: −$150
• − Repairs & maintenance: −$1,429
• − Management: −$1,429
• − Depreciation: −$870
• Taxable income: $11,866
• Est. tax owed @ 24.0%: −$2,848
• After-tax cash flow: $8,788/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: Jamestown City School District
• NCES district ID: 3615630
• Math proficiency: 33% ▼ -3.00%
• Reading proficiency: 42% ▲ 5.00%
• Median HH income: $32,240
• Composite: 30.69/100
• National rank: #6176
• State rank: #553 of 590 in NY

Livability — Jamestown

• Score: 69/100
• State rank: #470
• US rank: #8213

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jamestown, NY
• County: Chautauqua County · 38,461 people
• City population: 38,461
• Metro: Jamestown-Dunkirk-Fredonia, NY
• Population (ZIP): 38,461
• Household income: $49,685
• Rent vs Own: 42.8% rent · 57.2% own
• Severe rent burden: 1838.0

Population outlook (Chautauqua County) Hauer SSP2

• Today (2025): 123,454 people
• By 2030: 118,509 · -4.0%
• By 2040: 107,311 · -13.1%
• By 2050: 96,703 · -21.7%
• By 2075: 76,757 · -37.8%
• By 2100: 60,984 · -50.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 11% Two or more races 6% Black 3%
• Hispanic origin (detail): Puerto Rican 8%
• Common ancestry: Romanian 6% Lithuanian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 6% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Chautauqua

• 2024 margin: Strong R (+22.0) · D 39.0% · R 61.0%
• 2008→2024 swing: -22.9pp toward R · 2008: 0.9pp · 2024: -22.0pp
• All cycles: 2024: R+22.0 2020: R+19.8 2016: R+24.6 2012: R+8.2 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.93%
• Current HPI: 259.402
• Rent YoY: —
• Metro: Jamestown-Dunkirk-Fredonia, NY
• 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

-25.1% since first listed

15 events — show timeline

• 2026-01-29 Listed $29,900 UNYREIS
• 2024-03-20 Sold (MLS) $15,500 UNYREIS
• 2024-02-04 Pending — UNYREIS
• 2024-02-04 Pending — UNYREIS
• 2024-02-02 Listing Removed — UNYREIS
• 2024-01-31 Price Changed $26,000 UNYREIS
• 2024-01-31 Price Changed $26,000 UNYREIS
• 2024-01-12 Listed $35,000 UNYREIS
• 2024-01-12 Listed $35,000 UNYREIS
• 2023-07-03 Pending — UNYREIS
• 2023-06-26 Listing Removed — UNYREIS
• 2023-05-25 Listed $29,999 UNYREIS
• 2003-03-13 Sold (MLS) $32,000 UNYREIS
• 2002-08-26 Listed $35,000 UNYREIS
• 2001-08-13 Listed $39,900 UNYREIS

Property tax history

-4.3%/yr

Latest (2025): $1,782 · +4.8% YoY. Source: county tax records.