255-261 Buffalo St · Jamestown, NY 14701

$259,000

16 bd · 0.0 ba · 6,298 sqft · MultiFamily · 246 Days on market

Built 1930 Good condition $41/sqft · 15% above area Est $226k · 15% over ↓ 7% since listing

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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).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• ARV discount +0.9/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Excellent investment opportunity with this well-maintained five-unit rental property! Each unit features separate utilities, offering ease of management and strong income potential. Tenants enjoy the convenience of dedicated parking spots and their own private garage—a rare and highly desirable feature. The property has seen numerous updates throughout, including updated kitchens in each unit. Every unit also offers private laundry located in the basement, adding comfort and long-term tenant appeal. With solid functionality, thoughtful upgrades, and strong amenities, this property is ideal for investors seeking a turnkey multi-family with lasting value.

Key facts

• Private laundry
• Usable space
• Kitchen cabinets

Tags

• USABLE SPACE
• KITCHEN CABINETS
• RECESSED LIGHTING
• PRIVATE LAUNDRY
• PARKING SPACE

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/?-bath units multifamily listed at $259k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $3k ($32k/yr) — positive. Per door: $672/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $259k).
• Recommended offer: $228k (12.0% below list) — sets the bar for market timing.

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; 127 units permitted in Chautauqua County in 2024 (0 in 5+ unit buildings).
• At $5,670/mo this rent would consume 137% 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 $2k of loan paydown is wiped out by about $8k 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 $73k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 246 days — a 12% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $21k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $227,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 246 days. Have you received any prior offers? Is the seller open to a 12% 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 2.19% ✓
• Cap rate: 18.75%
• Cash-on-cash: 44.50%
• DSCR: 2.98
• GRM: 3.8

CMA / ARV

• ARV (median comp): $225,664
• List price: $259,000
• Delta: 14.77%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 41.5%
• Equity multiple: 2.78×
• Total profit: $129,406
• Equity at exit: $38,618

10-year hold

• IRR: 47.7%
• Equity multiple: 5.60×
• Total profit: $333,595
• Equity at exit: $22,394

Cash invested: $72,520 (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: 15.2×

Monthly cashflow live

• Estimated rent: $5,670 medium
• Mortgage (P&I): −$1,358
• Tax est. 1.5%: −$324 /mo · $3,885/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,191
• Net cashflow: $2,689

Break-even live

Break-even rent $2,266

Max offer price $259,000

Occupancy floor 48%

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	—	$5,672
Total (4 units)			$5,670

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $259,000 Active 246 DOM
2. 2026-06-18
   days on market $259,000 Active 245 DOM
3. 2026-06-17
   days on market $259,000 Active 244 DOM
4. 2026-06-16
   days on market $259,000 Active 243 DOM
5. 2026-06-15
   days on market $259,000 Active 242 DOM
6. 2026-06-14
   days on market $259,000 Active 240 DOM
7. 2026-06-12
   days on market $259,000 Active 239 DOM
8. 2026-06-09
   days on market $259,000 Active 236 DOM
9. 2026-06-08
   days on market $259,000 Active 235 DOM
10. 2026-06-07
    days on market $259,000 Active 234 DOM
11. 2026-06-05
    days on market $259,000 Active 231 DOM
12. 2026-06-02
    days on market $259,000 Active 229 DOM
13. 2026-06-01
    days on market $259,000 Active 228 DOM
14. 2026-05-31
    days on market $259,000 Active 227 DOM
15. 2026-05-30
    days on market $259,000 Active 226 DOM
16. 2026-02-07
    price $259,000 667-char remark

    Show marketing remark (667 chars)

    Excellent investment opportunity with this well-maintained five-unit rental property! Each unit features separate utilities, offering ease of management and strong income potential. Tenants enjoy the convenience of dedicated parking spots and their own private garage—a rare and highly desirable feature. The property has seen numerous updates throughout, including updated kitchens in each unit. Every unit also offers private laundry located in the basement, adding comfort and long-term tenant appeal. With solid functionality, thoughtful upgrades, and strong amenities, this property is ideal for investors seeking a turnkey multi-family with lasting value.

17. 2026-01-14
    status Active 667-char remark

    Show marketing remark (667 chars)

    Excellent investment opportunity with this well-maintained five-unit rental property! Each unit features separate utilities, offering ease of management and strong income potential. Tenants enjoy the convenience of dedicated parking spots and their own private garage—a rare and highly desirable feature. The property has seen numerous updates throughout, including updated kitchens in each unit. Every unit also offers private laundry located in the basement, adding comfort and long-term tenant appeal. With solid functionality, thoughtful upgrades, and strong amenities, this property is ideal for investors seeking a turnkey multi-family with lasting value.

18. 2025-12-31
    historical 667-char remark

    Show marketing remark (667 chars)

    Excellent investment opportunity with this well-maintained five-unit rental property! Each unit features separate utilities, offering ease of management and strong income potential. Tenants enjoy the convenience of dedicated parking spots and their own private garage—a rare and highly desirable feature. The property has seen numerous updates throughout, including updated kitchens in each unit. Every unit also offers private laundry located in the basement, adding comfort and long-term tenant appeal. With solid functionality, thoughtful upgrades, and strong amenities, this property is ideal for investors seeking a turnkey multi-family with lasting value.

19. 2025-10-02
    listed $279,900 Active 667-char remark

    Show marketing remark (667 chars)

    Excellent investment opportunity with this well-maintained five-unit rental property! Each unit features separate utilities, offering ease of management and strong income potential. Tenants enjoy the convenience of dedicated parking spots and their own private garage—a rare and highly desirable feature. The property has seen numerous updates throughout, including updated kitchens in each unit. Every unit also offers private laundry located in the basement, adding comfort and long-term tenant appeal. With solid functionality, thoughtful upgrades, and strong amenities, this property is ideal for investors seeking a turnkey multi-family with lasting value.

ⓘ 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 6/10 Major FEMA zone X · 57% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥90°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: $68,040
• − Mortgage interest: −$14,508
• − Property taxes: −$3,885
• − Insurance: −$1,295
• − Repairs & maintenance: −$5,443
• − Management: −$5,443
• − Depreciation: −$7,535
• Taxable income: $29,931
• Est. tax owed @ 24.0%: −$7,183
• After-tax cash flow: $25,089/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.

Condition & rehab AI · 1 photo

Good 75/100 Cosmetic rehab

This well-maintained five-unit rental property offers updated kitchens, private laundry, and dedicated parking, making it an excellent investment opportunity with strong resale and rental value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and property value.
• Both Clean gutters — Improves drainage and property value.
• Both Replace worn-out windows — Improves energy efficiency and property value.
• Both Update flooring in common areas — Enhances overall aesthetic and property value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and property value. ↑
• Both Clean gutters — Improves drainage and property value. ↑
• Both Replace worn-out windows — Improves energy efficiency and property value. ↑
• Both Update flooring in common areas — Enhances overall aesthetic and property value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-7.5% since first listed

4 events — show timeline

• 2026-02-07 Price Changed $259,000 UNYREIS
• 2026-01-14 Relisted — UNYREIS
• 2025-12-31 Listing Removed — UNYREIS
• 2025-10-02 Listed $279,900 UNYREIS