116 Water St · Jamestown, NY 14701

$44,000

4 bd · 2.0 ba · 1,999 sqft · MultiFamily public records · 49 Days on market

Built 1900 3,045 sqft lot Est $50k · 12% under

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Why this score? — see what drove the B 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 +12.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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: 2 units. confirmed

Listing remarks

New to the market! This 2 unit is ready for a new owner! Lots of updates including furnace, hot water tanks, vinyl windows. Add this to your portfolio or make it your new home!

Key facts

• Vinyl windows
• Hot water tanks
• Furnace

Tags

• FURNACE
• HOT WATER TANKS
• VINYL WINDOWS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $44k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $544/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $44k).
• Recommended offer: $43k (3.0% below list) — sets the bar for market timing.
• Cap rate 36.0% 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: 319 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $304 of loan paydown is wiped out by about $1k 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 $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $18k; list at $44k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: 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 $42,680 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 4.08% ✓
• Cap rate: 35.95%
• Cash-on-cash: 105.93%
• DSCR: 5.71
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $49,975
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16 Pearl Ave	0.34mi	4/2.0	2,010 (+1%)	6mo	$50,000	$25	78
220 Allen St	0.12mi	4/2.0	2,184 (+9%)	8mo	$35,000	$16	73
61 Ellicott St	0.22mi	4/2.0	1,784 (-11%)	2mo	$55,000	$31	70
127 Maple St	0.40mi	4/2.0	1,834 (-8%)	3mo	$13,000	$7	65
11 Mckinley Ave	0.65mi	5/3.0 (+1)	2,008 (+0%)	3mo	$54,000	$27	57
346 Willard	0.52mi	4/3.0	2,128 (+6%)	6mo	$18,900	$9	56
16 Bowen St	0.55mi	4/2.0	2,250 (+13%)	3mo	$50,000	$22	51
8 E Newland Ave	0.60mi	4/2.0	2,226 (+11%)	4mo	$53,500	$24	50
31 Falconer St	0.70mi	4/2.0	1,860 (-7%)	8mo	$109,000	$59	49
10 Eagle St	0.60mi	4/2.0	1,760 (-12%)	5mo	$47,000	$27	48
215 Hazzard St	0.73mi	4/2.0	2,280 (+14%)	4mo	$61,800	$27	40
211 E 8th St	0.72mi	4/2.0	2,280 (+14%)	4mo	$24,000	$11	40

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: 6.05×
• Total profit: $62,180
• Equity at exit: $6,561

10-year hold

• IRR: —
• Equity multiple: 12.65×
• Total profit: $143,513
• Equity at exit: $3,804

Cash invested: $12,320 (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: 319
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,796 medium
• Mortgage (P&I): −$231
• Tax from tax record: −$82 /mo · $987/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $1,088

Break-even live

Break-even rent $419

Max offer price $44,000

Occupancy floor 34%

Sensitivity live

Price	-10% $1,112	-5% $1,100	+0% $1,088	+5% $1,075	+10% $1,063
Rent	-10% $946	-5% $1,017	+0% $1,088	+5% $1,158	+10% $1,229
Rate	-1.0pp $1,110	-0.5pp $1,099	base $1,088	+0.5pp $1,076	+1.0pp $1,065

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,796
Total (2 units)			$1,796

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: $11,000
• Closing costs: $1,320
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
148 Maple St Jamestown, NY	3.0	1.0	1424	$1,350	$0.95	46d	1	0.52mi

Listing history 4 events

1. 2025-09-17
   status Pending
2. 2025-09-13
   price $44,000
3. 2025-07-30
   listed $49,000 Active
4. 2008-08-12
   soldstatus $18,000

ⓘ 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: $987 · $82/mo
• Projected year-2 tax: $987 · $82/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 · 62% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 17 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: $21,552
• − Mortgage interest: −$2,465
• − Property taxes: −$987
• − Insurance: −$220
• − Repairs & maintenance: −$1,724
• − Management: −$1,724
• − Depreciation: −$1,280
• Taxable income: $13,152
• Est. tax owed @ 24.0%: −$3,157
• After-tax cash flow: $9,894/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

+144.4% since first listed

4 events — show timeline

• 2025-09-17 Pending — UNYREIS
• 2025-09-13 Price Changed $44,000 UNYREIS
• 2025-07-30 Listed $49,000 UNYREIS
• 2008-08-12 Sold (Public Records) $18,000 Public Records

Property tax history

-4.2%/yr

Latest (2025): $987 · +4.8% YoY. Source: county tax records.