138 Park St · Jamestown, NY 14701

$50,000

4 bd · 3.0 ba · 2,108 sqft · MultiFamily public records · 17 Days on market

Built 1894 7,850 sqft lot Est $51k · at est.

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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 +8.0/15.0
• 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

Investment opportunity at 138 Park St! This 2-unit property offers spacious apartments and immediate income potential, with the upper unit currently rented for $750 per month and the lower unit vacant and ready for occupancy or renovation. Featuring low-maintenance vinyl siding, this property presents an excellent opportunity for investors looking to add value through updates and improvements. Whether you're seeking a rental property, an owner-occupied investment, or your next project, this multi-family home offers flexibility and upside potential. Conveniently located near downtown Jamestown, schools, parks, shopping, and local amenities.

Key facts

• 2 unit property
• Spacious apartments
• 7,850 sq ft lot

Tags

• 2 UNIT PROPERTY
• SPACIOUS APARTMENTS
• IMMEDIATE INCOME POTENTIAL
• LOW MAINTENANCE VINYL SIDING

Property features AI

Finance

• Other: Two total units with separate gas and electric meters for each unit
• Financial info: Owner pays water; rent includes water (if rented); Operating expense details listed in remarks

Exterior

• Parking: Common parking with one space
• Utilities: Public water connected; Sewer connected
• Home design: 2-story building; Existing property condition
• Construction: Vinyl siding
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 50 x 157

Interior

• Flooring: Hardwood; Varies
• Bathrooms: Two full bathrooms
• Heating & cooling: Gas heating; Forced air; Space heater
• Interior features: Hardwood and varied flooring; Full basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $50k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $705/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 40.1% 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: Milton J Fletcher Elementary School (math 27% / reading 42%, grade F, #1,577 of 2,108 statewide, top 77%, 530 students, 74% FRL); Persell Middle School (math 23% / reading 37%, grade F, #539 of 729 statewide, top 74%, 417 students, 73% 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 75% FRL vs 60% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 51% at this address vs 38% district-wide (+14 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).
• At $2,222/mo this rent would consume 54% 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 $346 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 $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 26y 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.

Risks & watch-outs

• Watch-outs: built in 1894 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,250 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1894 — 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. 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?
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: 4.44% ✓
• Cap rate: 40.13%
• Cash-on-cash: 120.84%
• DSCR: 6.38
• GRM: 1.9

CMA / ARV

• ARV (on-the-fly): $50,592
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
71 Myrtle St	0.08mi	4/2.0	2,016 (-4%)	6mo	$67,000	$33	80
228 Forest Ave	0.27mi	4/2.0	2,080 (-1%)	5mo	$11,000	$5	77
11 Mckinley Ave	0.31mi	5/3.0 (+1)	2,008 (-5%)	3mo	$54,000	$27	70
618 Newland Ave	0.18mi	3/2.0 (-1)	2,044 (-3%)	9mo	$65,000	$32	70
506 Newland Ave	0.16mi	4/2.5	2,372 (+12%)	3mo	$35,000	$15	68
93 Barker St	0.31mi	5/2.0 (+1)	2,190 (+4%)	3mo	$8,000	$4	67
215 Hazzard St	0.32mi	4/2.0	2,280 (+8%)	4mo	$61,800	$27	65
8 E Newland Ave	0.44mi	4/2.0	2,226 (+6%)	4mo	$53,500	$24	63
149 Baker St	0.64mi	5/3.0 (+1)	2,192 (+4%)	2mo	$96,460	$44	57
15 Columbia Ave	0.23mi	5/2.0 (+1)	2,380 (+13%)	3mo	$50,000	$21	56
144 Barrett Ave	0.33mi	5/2.0 (+1)	2,352 (+12%)	3mo	$50,000	$21	54
127 Maple St	0.57mi	4/2.0	1,834 (-13%)	3mo	$13,000	$7	45

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: 6.84×
• Total profit: $81,725
• Equity at exit: $7,455

10-year hold

• IRR: —
• Equity multiple: 14.35×
• Total profit: $186,924
• Equity at exit: $4,323

Cash invested: $14,000 (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: 319
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,222 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $1,410

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 32%

Sensitivity live

Price	-10% $1,444	-5% $1,427	+0% $1,410	+5% $1,393	+10% $1,375
Rent	-10% $1,234	-5% $1,322	+0% $1,410	+5% $1,498	+10% $1,585
Rate	-1.0pp $1,435	-0.5pp $1,423	base $1,410	+0.5pp $1,397	+1.0pp $1,384

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,222
Total (2 units)			$2,222

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: $12,500
• Closing costs: $1,500
• 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	45d	1	0.52mi

Listing history 13 events

1. 2026-06-22
   days on market $50,000 Active 17 DOM
2. 2026-06-21
   days on market $50,000 Active 16 DOM
3. 2026-06-19
   days on market $50,000 Active 14 DOM
4. 2026-06-18
   days on market $50,000 Active 13 DOM
5. 2026-06-17
   days on market $50,000 Active 12 DOM
6. 2026-06-16
   days on market $50,000 Active 11 DOM
7. 2026-06-15
   days on market $50,000 Active 10 DOM
8. 2026-06-14
   days on market $50,000 Active 8 DOM
9. 2026-06-12
   days on market $50,000 Active 7 DOM
10. 2026-06-09
    days on market $50,000 Active 4 DOM
11. 2026-06-08
    days on market $50,000 Active 3 DOM
12. 2026-06-07
    remarks 647-char remark
13. 2026-06-07
    listed $50,000 Active 2 DOM

ⓘ 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: $26,664
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$2,133
• − Management: −$2,133
• − Depreciation: −$1,455
• Taxable income: $17,142
• Est. tax owed @ 24.0%: −$4,114
• After-tax cash flow: $12,804/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

+67.2% since first listed

24 events — show timeline

• 2026-06-05 Listed $50,000 UNYREIS
• 2026-03-12 Listing Removed — UNYREIS
• 2026-02-14 Price Changed $72,000 UNYREIS
• 2025-05-08 Price Changed $75,000 UNYREIS
• 2025-03-13 Listing Removed — UNYREIS
• 2025-03-13 Listed $80,000 UNYREIS
• 2025-01-23 Price Changed $320,000 UNYREIS
• 2024-09-06 Price Changed $345,000 UNYREIS
• 2024-08-29 Relisted — UNYREIS
• 2024-08-25 Price Changed $370,000 UNYREIS
• 2024-07-23 Listed $650,000 UNYREIS
• 2022-03-24 Sold (MLS) $55,000 UNYREIS
• 2022-03-23 Sold (Public Records) $191,000 Public Records
• 2021-11-05 Pending — UNYREIS
• 2021-10-28 Listed $59,900 UNYREIS
• 2018-12-14 Listing Removed — UNYREIS
• 2018-08-28 Price Changed $29,900 UNYREIS
• 2018-06-11 Price Changed $299,000 UNYREIS
• 2018-03-29 Listed $339,000 UNYREIS
• 2008-05-29 Listed $49,921 UNYREIS
• 2007-05-29 Sold (MLS) $23,000 UNYREIS
• 2007-04-30 Sold (Public Records) $23,000 Public Records
• 2006-11-08 Listed $26,900 UNYREIS
• 2000-09-12 Listed $29,900 UNYREIS

Property tax history

+3.2%/yr

Latest (2025): $2,840 · +136.2% YoY. Source: county tax records.