220 & 222 Fulton · Jamestown, NY 14701

$59,900

7 bd · 2.0 ba · 2,246 sqft · MultiFamily · 46 Days on market

Built 1892 Fair condition 10,018 sqft lot $27/sqft · 13% below area Est $69k · 13% 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 +13.4/15.0
• 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 +2.0/5.0
• 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

Cash cow!!! $1,225 combined rent / per month. Tenant's pay all utilities (separate meters). #220 features 2 beds / 1 bath ($375) and #222 features 3 beds / 2 optional beds / 1.5 baths ($850). Unit #220 is below market rent, but a longtime tenant. Unit has been left untouched, but is in good condition. #222 was just renovated. New flooring, new paint, new thermostat / new furnace, new plumbing, new appliances, new cabinetry, new vanities, new light fixtures / outlets / switches, new and working CO monitors / smoke detectors (up to code), new exterior stair railings, some new vinyl windows, new sinks / faucets, new interior doors, new blinds, etc. The lot is huge!!! Great property to add to your investment portfolio. Owner is selling to move onto a new project.

Key facts

• Long term tenant
• Separate utilities
• Investment property

Tags

• INVESTMENT PROPERTY
• LONG TERM TENANT
• SEPARATE UTILITIES
• SEPARATE METERS
• RECENTLY RENOVATED
• NEW WINDOWS

Property features AI

Finance

• Other: Property contains 2 total units; Each unit has separate gas and electric meters (2 of each)
• Financial info: Tenants pay all utilities; Operating expenses include insurance and maintenance

Exterior

• Parking: Gravel parking; On-street parking
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: 2-story property; Resale condition
• Construction: Vinyl siding
• Exterior features: Irregular residential lot; City street frontage

Interior

• Flooring: Hardwood; Laminate; Vinyl; Varies
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas heating; Forced air; Space heater
• Interior features: Hardwood, laminate, vinyl, and varying floor materials; Walk-out basement access
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 7-bed/2.0-bath multifamily listed at $60k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 35.9% 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; 127 units permitted in Chautauqua County in 2024 (0 in 5+ unit buildings).
• At $2,394/mo this rent would consume 58% 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 $414 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 3 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 $45k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1892 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1892 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
7. 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.
8. 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: 4.00% ✓
• Cap rate: 35.89%
• Cash-on-cash: 105.70%
• DSCR: 5.70
• GRM: 2.1

CMA / ARV

• ARV (median comp): $68,944
• List price: $59,900
• Delta: -13.12%
• 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
211 Crescent St	0.45mi	6/2.0 (-1)	2,184 (-3%)	5mo	$16,500	$8	65
99 Newton Ave	0.43mi	6/2.0 (-1)	2,153 (-4%)	23mo	$110,000	$51	49
413 Winsor St	0.31mi	6/4.0 (-1)	2,477 (+10%)	18mo	$82,500	$33	40
84 Victoria Ave	0.74mi	6/2.0 (-1)	1,924 (-14%)	6mo	$73,000	$38	32

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: 6.03×
• Total profit: $84,420
• Equity at exit: $8,931

10-year hold

• IRR: —
• Equity multiple: 12.62×
• Total profit: $194,815
• Equity at exit: $5,179

Cash invested: $16,772 (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: 5.1×

Monthly cashflow live

• Estimated rent: $2,394 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $1,477

Break-even live

Break-even rent $524

Max offer price $59,900

Occupancy floor 33%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$973
1× unit	5	1.5	$1,422
Total (2 units)			$2,394

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $59,900 Active 46 DOM
2. 2026-06-18
   days on market $59,900 Active 45 DOM
3. 2026-06-17
   days on market $59,900 Active 44 DOM
4. 2026-06-16
   days on market $59,900 Active 43 DOM
5. 2026-06-15
   days on market $59,900 Active 42 DOM
6. 2026-06-14
   days on market $59,900 Active 40 DOM
7. 2026-06-12
   days on market $59,900 Active 39 DOM
8. 2026-06-09
   days on market $59,900 Active 36 DOM
9. 2026-06-08
   days on market $59,900 Active 35 DOM
10. 2026-06-07
    days on market $59,900 Active 34 DOM
11. 2026-06-05
    days on market $59,900 Active 31 DOM
12. 2026-06-02
    days on market $59,900 Active 29 DOM
13. 2026-06-01
    days on market $59,900 Active 28 DOM
14. 2026-05-31
    days on market $59,900 Active 27 DOM
15. 2026-05-30
    days on market $59,900 Active 26 DOM
16. 2026-05-04
    listed $59,900 Active 373-char remark
17. 2021-08-31
    soldstatus $45,000 Closed Sale or Rented 769-char remark

    Show marketing remark (769 chars)

    Cash cow!!! $1,225 combined rent / per month. Tenant's pay all utilities (separate meters). #220 features 2 beds / 1 bath ($375) and #222 features 3 beds / 2 optional beds / 1.5 baths ($850). Unit #220 is below market rent, but a longtime tenant. Unit has been left untouched, but is in good condition. #222 was just renovated. New flooring, new paint, new thermostat / new furnace, new plumbing, new appliances, new cabinetry, new vanities, new light fixtures / outlets / switches, new and working CO monitors / smoke detectors (up to code), new exterior stair railings, some new vinyl windows, new sinks / faucets, new interior doors, new blinds, etc. The lot is huge!!! Great property to add to your investment portfolio. Owner is selling to move onto a new project.

18. 2021-06-08
    status Pending Sale 769-char remark

    Show marketing remark (769 chars)

    Cash cow!!! $1,225 combined rent / per month. Tenant's pay all utilities (separate meters). #220 features 2 beds / 1 bath ($375) and #222 features 3 beds / 2 optional beds / 1.5 baths ($850). Unit #220 is below market rent, but a longtime tenant. Unit has been left untouched, but is in good condition. #222 was just renovated. New flooring, new paint, new thermostat / new furnace, new plumbing, new appliances, new cabinetry, new vanities, new light fixtures / outlets / switches, new and working CO monitors / smoke detectors (up to code), new exterior stair railings, some new vinyl windows, new sinks / faucets, new interior doors, new blinds, etc. The lot is huge!!! Great property to add to your investment portfolio. Owner is selling to move onto a new project.

19. 2021-06-04
    historical Continue to Show- Under Contract 769-char remark

    Show marketing remark (769 chars)

    Cash cow!!! $1,225 combined rent / per month. Tenant's pay all utilities (separate meters). #220 features 2 beds / 1 bath ($375) and #222 features 3 beds / 2 optional beds / 1.5 baths ($850). Unit #220 is below market rent, but a longtime tenant. Unit has been left untouched, but is in good condition. #222 was just renovated. New flooring, new paint, new thermostat / new furnace, new plumbing, new appliances, new cabinetry, new vanities, new light fixtures / outlets / switches, new and working CO monitors / smoke detectors (up to code), new exterior stair railings, some new vinyl windows, new sinks / faucets, new interior doors, new blinds, etc. The lot is huge!!! Great property to add to your investment portfolio. Owner is selling to move onto a new project.

20. 2021-05-25
    listed $39,900 Active 769-char remark

    Show marketing remark (769 chars)

    Cash cow!!! $1,225 combined rent / per month. Tenant's pay all utilities (separate meters). #220 features 2 beds / 1 bath ($375) and #222 features 3 beds / 2 optional beds / 1.5 baths ($850). Unit #220 is below market rent, but a longtime tenant. Unit has been left untouched, but is in good condition. #222 was just renovated. New flooring, new paint, new thermostat / new furnace, new plumbing, new appliances, new cabinetry, new vanities, new light fixtures / outlets / switches, new and working CO monitors / smoke detectors (up to code), new exterior stair railings, some new vinyl windows, new sinks / faucets, new interior doors, new blinds, etc. The lot is huge!!! Great property to add to your investment portfolio. Owner is selling to move onto a new project.

21. 2020-06-19
    soldstatus $16,500 Closed Sale or Rented

    Show marketing remark (73 chars)

    Excellent income producing property priced aggressively for a quick sale.

22. 2020-04-24
    status Pending Sale

    Show marketing remark (73 chars)

    Excellent income producing property priced aggressively for a quick sale.

23. 2020-04-24
    listed $19,900 Active

    Show marketing remark (73 chars)

    Excellent income producing property priced aggressively for a quick sale.

ⓘ 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 3/10 Moderate
• 🌡 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: $28,728
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$2,298
• − Management: −$2,298
• − Depreciation: −$1,743
• Taxable income: $17,836
• Est. tax owed @ 24.0%: −$4,281
• After-tax cash flow: $13,447/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

Fair 40/100 Moderate rehab

This multi-family property requires significant exterior and interior repairs, but has potential for substantial value increase with targeted renovations.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major concrete steps — Cracks and uneven surfaces
• Major interior walls — Faded and chipped paint
• Major roof — Aged appearance

Value-add opportunities

• Both Landscaping and exterior painting — Enhances curb appeal and property value
• Both New flooring and paint in bathrooms and kitchen — Improves functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
concrete steps · Cracks and uneven surfaces	Major	$15,000–50,000
interior walls · Faded and chipped paint	Major	$15,000–50,000
roof · Aged appearance	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both Landscaping and exterior painting — Enhances curb appeal and property value ↑
• Both New flooring and paint in bathrooms and kitchen — Improves functionality and aesthetics ↑

ⓘ 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

+201.0% since first listed

8 events — show timeline

• 2026-05-04 Listed $59,900 UNYREIS
• 2021-08-31 Sold (MLS) $45,000 UNYREIS
• 2021-06-08 Pending — UNYREIS
• 2021-06-04 Contingent — UNYREIS
• 2021-05-25 Listed $39,900 UNYREIS
• 2020-06-19 Sold (MLS) $16,500 UNYREIS
• 2020-04-24 Pending — UNYREIS
• 2020-04-24 Listed $19,900 UNYREIS