98 Myrtle St · Jamestown, NY 14701

$25,000

4 bd · 2.0 ba · 1,872 sqft · MultiFamily public records · 43 Days on market

Built 1920 4,500 sqft lot $13/sqft · 79% below area ↓ 26% 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: 2 units. confirmed

Listing remarks

Two family home situated on Southside of Jamestown in need of renovation! Tons of upside with neighboring comparable sales. Bring your vision! All separate utility meters. Currently condemned by the city of Jamestown so will need brought up to code before occupancy. Cash only sale.

Key facts

• 4,500 sq ft lot
• 2 parking spots
• Built 1920

Property features AI

Finance

• Financial info: Operating expenses include maintenance; Property has two separate gas meters and two separate electric meters; Two total units

Exterior

• Parking: Two or more parking spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story multiunit property; Resale condition
• Construction: Wood siding exterior; Existing construction
• Exterior features: Irregular residential lot; City street frontage; Lot dimensions approximately 45 x 100

Interior

• Kitchen: Electric water heater
• Bedrooms: Two 2-bedroom units (each unit has 2 bedrooms)
• Flooring: Hardwood; Vinyl; Varies
• Bathrooms: Each unit has 1 full bathroom (total of 2 full bathrooms)
• Heating & cooling: Electric baseboard heating
• Interior features: Full basement; Formal dining room
• Laundry & utility: Tenants pay all utilities

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $25k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $676/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• Recommended offer: $24k (3.0% below list) — sets the bar for market timing.
• Cap rate 71.1% vs local median 16.6% 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: schools C-, amenities D, crime 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.
• Market conditions: 313 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).
• At $1,929/mo this rent would consume 47% of the median local household income ($50k/yr) (locally 1838% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y 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 $12k; list at $25k implies a 110% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $24,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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 1920 — 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. 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?
8. 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.
9. 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.
10. 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: 7.72% ✓
• Cap rate: 71.15%
• Cash-on-cash: 231.62%
• DSCR: 11.31
• GRM: 1.1

CMA / ARV

• ARV (median comp): $120,971
• List price: $25,000
• Delta: -79.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
125 Superior St	0.07mi	4/2.0	1,744 (-7%)	7mo	$85,000	$49	80
71 Myrtle St	0.08mi	4/2.0	2,016 (+8%)	6mo	$67,000	$33	79
419 Newland Ave	0.15mi	4/2.0	1,787 (-4%)	11mo	$27,000	$15	76
52 Mckinley Ave	0.32mi	4/2.0	1,799 (-4%)	11mo	$14,000	$8	69
228 Forest Ave	0.24mi	4/2.0	2,080 (+11%)	5mo	$11,000	$5	66
127 Maple St	0.62mi	4/2.0	1,834 (-2%)	3mo	$13,000	$7	65
618 Newland Ave	0.15mi	3/2.0 (-1)	2,044 (+9%)	9mo	$65,000	$32	65
11 Mckinley Ave	0.32mi	5/3.0 (+1)	2,008 (+7%)	3mo	$54,000	$27	61
64 Barrett Ave	0.43mi	3/2.0 (-1)	1,917 (+2%)	16mo	$37,000	$19	58
11 Prather Ave	0.44mi	3/2.0 (-1)	1,688 (-10%)	1mo	$78,000	$46	57
50 Colfax St	0.55mi	4/2.0	1,996 (+7%)	15mo	$60,000	$30	51
273 S Main St	0.30mi	4/1.0	1,600 (-14%)	11mo	$21,000	$13	49

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: 12.72×
• Total profit: $82,033
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 27.05×
• Total profit: $182,360
• Equity at exit: $2,162

Cash invested: $7,000 (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: 313
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,929 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $1,351

Break-even live

Break-even rent $219

Max offer price $25,000

Occupancy floor 25%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,928
Total (2 units)			$1,929

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: $6,250
• Closing costs: $750
• 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	43d	1	0.56mi

Listing history 19 events

1. 2026-06-19
   days on market $25,000 Active 43 DOM
2. 2026-06-18
   days on market $25,000 Active 42 DOM
3. 2026-06-17
   days on market $25,000 Active 41 DOM
4. 2026-06-16
   days on market $25,000 Active 40 DOM
5. 2026-06-15
   days on market $25,000 Active 39 DOM
6. 2026-06-14
   days on market $25,000 Active 37 DOM
7. 2026-06-12
   days on market $25,000 Active 36 DOM
8. 2026-06-09
   days on market $25,000 Active 33 DOM
9. 2026-06-08
   days on market $25,000 Active 32 DOM
10. 2026-06-07
    days on market $25,000 Active 31 DOM
11. 2026-06-05
    days on market $25,000 Active 28 DOM
12. 2026-06-02
    days on market $25,000 Active 26 DOM
13. 2026-06-01
    days on market $25,000 Active 25 DOM
14. 2026-05-31
    days on market $25,000 Active 24 DOM
15. 2026-05-30
    days on market $25,000 Active 23 DOM
16. 2026-05-07
    listed $25,000 Active 282-char remark
17. 2010-11-17
    soldstatus $11,880
18. 2010-10-13
    listed $11,880
19. 1995-04-25
    soldstatus $34,000

ⓘ 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 0% 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: $23,148
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$1,852
• − Management: −$1,852
• − Depreciation: −$727
• Taxable income: $16,817
• Est. tax owed @ 24.0%: −$4,036
• After-tax cash flow: $12,178/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

-26.5% since first listed

4 events — show timeline

• 2026-05-07 Listed $25,000 UNYREIS
• 2010-11-17 Sold (MLS) $11,880 UNYREIS
• 2010-10-13 Listed $11,880 UNYREIS
• 1995-04-25 Sold (Public Records) $34,000 Public Records

Property tax history

-4.8%/yr

Latest (2025): $1,590 · +4.8% YoY. Source: county tax records.