39 Clinton Ave · Fredonia, NY 14063

$365,000

5 bd · None ba · 3,960 sqft · MultiFamily public records · 35 Days on market

Built 1977 0.49 ac lot $92/sqft · 32% below area Est $533k · 32% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• 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 (5+ Unit). Listing-text estimate: 1 unit. 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

Introducing a prime investment opportunity in the heart of Fredonia, NY. This meticulously maintained 3960 Square feet of low rise property, boasting 5 units, presents a lucrative investment prospect. Built in 1977 and currently enjoying full occupancy, this property offers a seamless blend of comfort and convenience. Zoned V1 to accommodate various uses, it provides a solid foundation for multifamily investment success. With a prime location in the sought-after Fredonia area and impressive historical performance, this property stands as an exceptional choice for investors seeking a thriving multifamily investment with established returns. Also listed under MLS# B1681428

Key facts

• Full occupancy
• Low rise property
• Zoned v1

Tags

• PRIME INVESTMENT OPPORTUNITY
• LOW RISE PROPERTY
• 5 UNITS
• FULL OCCUPANCY
• ZONED V1
• MULTIFAMILY INVESTMENT

What this means for you Summary

Snapshot

• This is a 5-bed/?-bath multifamily listed at $365k.

Deal economics

• At list price, monthly cash flow is $3k ($33k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $365k).
• Recommended offer: $354k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.2% vs local median 3.3% in Fredonia — 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 81/100 on livability (#95 in NY, #1,446 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, commute A; Watch: amenities C-, employment C-, crime F.
• Fredonia Central School District (town): math 55% / reading 46% proficiency, ranked #376 of 590 in NY (top 64%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 92 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 $3k of loan paydown is wiped out by about $11k 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 $102k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($354k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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 $194k; list at $365k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price.

Recommended offer $354,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.99% ✓
• Cap rate: 15.25%
• Cash-on-cash: 31.98%
• DSCR: 2.42
• GRM: 4.2

CMA / ARV

• ARV (median comp): $533,363
• List price: $365,000
• Delta: -31.57%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
61-63 E Main St	0.68mi	6/2.5 (+1)	3,880 (-2%)	22mo	$306,000	$79	42

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: 27.0%
• Equity multiple: 2.12×
• Total profit: $114,731
• Equity at exit: $54,423

10-year hold

• IRR: 34.6%
• Equity multiple: 4.18×
• Total profit: $324,953
• Equity at exit: $31,559

Cash invested: $102,200 (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 14063

• Home prices YoY: -23.6%
• Active inventory: 92
• Price-to-rent: 20.9×

Monthly cashflow live

• Estimated rent: $7,270 medium
• Mortgage (P&I): −$1,914
• Tax from tax record: −$954 /mo · $11,443/yr
• Insurance: −$152
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,527
• Net cashflow: $2,724

Break-even live

Break-even rent $3,823

Max offer price $365,000

Occupancy floor 58%

Sensitivity live

Price	-10% $2,930	-5% $2,827	+0% $2,724	+5% $2,620	+10% $2,517
Rent	-10% $2,149	-5% $2,436	+0% $2,724	+5% $3,011	+10% $3,298
Rate	-1.0pp $2,907	-0.5pp $2,816	base $2,724	+0.5pp $2,629	+1.0pp $2,533

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

Units	Beds	Baths	Est. rent
▸ 5× units	5	0	$7,270
Total (5 units)			$7,270

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: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-17
   status $365,000 Pending 35 DOM
2. 2026-06-17
   days on market $365,000 Active 35 DOM
3. 2026-06-16
   days on market $365,000 Active 34 DOM
4. 2026-06-15
   days on market $365,000 Active 33 DOM
5. 2026-06-13
   days on market $365,000 Active 31 DOM
6. 2026-06-12
   days on market $365,000 Active 30 DOM
7. 2026-06-09
   days on market $365,000 Active 27 DOM
8. 2026-06-08
   days on market $365,000 Active 26 DOM
9. 2026-06-07
   days on market $365,000 Active 25 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    days on market $365,000 Active 24 DOM
12. 2026-06-04
    days on market $365,000 Active 21 DOM
13. 2026-06-02
    days on market $365,000 Active 20 DOM
14. 2026-06-01
    days on market $365,000 Active 19 DOM
15. 2026-05-31
    days on market $365,000 Active 18 DOM
16. 2026-05-13
    listed $365,000 Active 679-char remark

    Show marketing remark (679 chars)

    Introducing a prime investment opportunity in the heart of Fredonia, NY. This meticulously maintained 3960 Square feet of low rise property, boasting 5 units, presents a lucrative investment prospect. Built in 1977 and currently enjoying full occupancy, this property offers a seamless blend of comfort and convenience. Zoned V1 to accommodate various uses, it provides a solid foundation for multifamily investment success. With a prime location in the sought-after Fredonia area and impressive historical performance, this property stands as an exceptional choice for investors seeking a thriving multifamily investment with established returns. Also listed under MLS# B1681428

17. 2025-09-29
    status Pending
18. 2025-08-22
    historical Active Under Contract
19. 2025-08-21
    historical
20. 2025-08-12
    listed $350,000 Active
21. 2024-07-30
    soldstatus $194,075
22. 2024-07-29
    soldstatus $194,075 Closed
23. 2024-05-19
    historical
24. 2024-05-13
    listed $225,000
25. 2021-08-04
    soldstatus $100,000 Closed Sale or Rented
26. 2021-08-02
    soldstatus $100,000
27. 2021-06-07
    status Pending Sale
28. 2020-12-29
    listed $175,000 Active

ⓘ 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: $11,443 · $954/mo
• Projected year-2 tax: $11,443 · $954/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $87,240
• − Mortgage interest: −$20,446
• − Property taxes: −$11,443
• − Insurance: −$1,825
• − Repairs & maintenance: −$6,979
• − Management: −$6,979
• − Depreciation: −$10,618
• Taxable income: $28,949
• Est. tax owed @ 24.0%: −$6,948
• After-tax cash flow: $25,734/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: Fredonia Central School District
• NCES district ID: 3611520
• Math proficiency: 55% ▼ -8.00%
• Reading proficiency: 46% ▼ -8.00%
• Median HH income: $48,491
• Composite: 43.1/100
• National rank: #3086
• State rank: #376 of 590 in NY

Livability — Fredonia

• Score: 81/100
• State rank: #95
• US rank: #1446

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fredonia, NY
• Population (ZIP): 12,722

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 (83%)
• Race & ethnicity: White 83% Hispanic / Latino 8% Two or more races 5% Black 3% Asian 2%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 14% Italian 3% Iranian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Chinese 1% Other Indo-European 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: ▼ -78.55%
• Current HPI: 253.5334
• 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

+108.6% since first listed

13 events — show timeline

• 2026-05-13 Listed $365,000 WNYREIS
• 2025-09-29 Pending — WNYREIS
• 2025-08-22 Contingent — WNYREIS
• 2025-08-21 Listing Removed — WNYREIS
• 2025-08-12 Listed $350,000 WNYREIS
• 2024-07-30 Sold (Public Records) $194,075 Public Records
• 2024-07-29 Sold (MLS) $194,075 UNYREIS
• 2024-05-19 Listing Removed — UNYREIS
• 2024-05-13 Listed $225,000 UNYREIS
• 2021-08-04 Sold (MLS) $100,000 UNYREIS
• 2021-08-02 Sold (Public Records) $100,000 Public Records
• 2021-06-07 Pending — UNYREIS
• 2020-12-29 Listed $175,000 UNYREIS

Property tax history

+2.3%/yr

Latest (2025): $11,443 · +11.2% YoY. Source: county tax records.