4344 W Summit St · Lakewood, NY 14750

$900,000

64 bd · None ba · 8,843 sqft · MultiFamily public records · 360 Days on market

Built 1950 1.05 ac lot ↓ 22% since listing

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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
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• 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: 8 units. confirmed

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

Discover a once-in-a-lifetime chance to own a truly unique property with an impressive 212 feet of lake frontage—a rare gem on the beautiful Chautauqua Lake. Nestled in a prime location, this expansive estate offers sweeping panoramic lake views and endless possibilities. The property features an 8-unit residence, offering incredible flexibility: keep it as an income-generating rental, convert it to a private family retreat, or redevelop and build your dream lakefront estate. Whether you’re an investor, homeowner, or visionary builder, this property is a canvas for your imagination. Additional highlights include a spacious 4-car garage, a wraparound driveway for easy access and ample parking, proximity to dining and stores, and also being nearby major roads and highways. For savvy developers, this property offers multiple redevelopment possibilities, such as luxury lakefront condos or a private estate compound. Properties with this much lake frontage are extremely rare—don’t miss your chance to own a piece of Chautauqua Lake’s finest shoreline. Tons of potential and the location to match!

Key facts

• Wraparound driveway
• 8 unit residence
• Panoramic lake views

Tags

• 212 FEET OF LAKE FRONTAGE
• PANORAMIC LAKE VIEWS
• 8 UNIT RESIDENCE
• INCOME GENERATING RENTAL
• PRIVATE FAMILY RETREAT
• WRAPAROUND DRIVEWAY

What this means for you Summary

Snapshot

• This is a 8 × 2-bed/1-bath units multifamily listed at $900k.

Deal economics

• At list price, monthly cash flow is $3k ($42k/yr) — positive. Per door: $434/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $900k).
• Recommended offer: $792k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 3.0% in Lakewood — 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 71/100 on livability (#398 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, employment D+, amenities F.
• Southwestern Central School District At Jamestown (town): math 45% / reading 56% proficiency, ranked #373 of 590 in NY (top 63%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 39 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 $6k of loan paydown is wiped out by about $27k 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 $252k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 360 days — a 12% lower offer ($792k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y ago; this cycle's ask is 112400% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $792,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 360 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 1950 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 1.34% ✓
• Cap rate: 10.93%
• Cash-on-cash: 16.55%
• DSCR: 1.74
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 7.7%
• Equity multiple: 1.30×
• Total profit: $75,615
• Equity at exit: $134,193

10-year hold

• IRR: 17.0%
• Equity multiple: 2.39×
• Total profit: $351,261
• Equity at exit: $77,816

Cash invested: $252,000 (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 14750

• Home prices YoY: -7.7%
• Active inventory: 39
• Price-to-rent: 49.6×

Monthly cashflow live

• Estimated rent: $12,090 medium
• Mortgage (P&I): −$4,720
• Tax from tax record: −$981 /mo · $11,770/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,539
• Net cashflow: $3,476

Break-even live

Break-even rent $7,691

Max offer price $900,000

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 8× units	2	1	$12,088
Total (8 units)			$12,090

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: $225,000
• Closing costs: $27,000
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-03
   days on market $900,000 Active 360 DOM
2. 2026-06-02
   days on market $900,000 Active 359 DOM
3. 2026-06-01
   days on market $900,000 Active 358 DOM
4. 2026-05-31
   days on market $900,000 Active 357 DOM
5. 2026-05-30
   days on market $900,000 Active 356 DOM
6. 2026-04-23
   price $900,000 1135-char remark

   Show marketing remark (1135 chars)

   Discover a once-in-a-lifetime chance to own a truly unique property with an impressive 212 feet of lake frontage—a rare gem on the beautiful Chautauqua Lake. Nestled in a prime location, this expansive estate offers sweeping panoramic lake views and endless possibilities. The property features an 8-unit residence, offering incredible flexibility: keep it as an income-generating rental, convert it to a private family retreat, or redevelop and build your dream lakefront estate. Whether you’re an investor, homeowner, or visionary builder, this property is a canvas for your imagination. Additional highlights include a spacious 4-car garage, a wraparound driveway for easy access and ample parking, proximity to dining and stores, and also being nearby major roads and highways. For savvy developers, this property offers multiple redevelopment possibilities, such as luxury lakefront condos or a private estate compound. Properties with this much lake frontage are extremely rare—don’t miss your chance to own a piece of Chautauqua Lake’s finest shoreline. Tons of potential and the location to match!

7. 2025-12-08
   status Active 1135-char remark

   Show marketing remark (1135 chars)

   Discover a once-in-a-lifetime chance to own a truly unique property with an impressive 212 feet of lake frontage—a rare gem on the beautiful Chautauqua Lake. Nestled in a prime location, this expansive estate offers sweeping panoramic lake views and endless possibilities. The property features an 8-unit residence, offering incredible flexibility: keep it as an income-generating rental, convert it to a private family retreat, or redevelop and build your dream lakefront estate. Whether you’re an investor, homeowner, or visionary builder, this property is a canvas for your imagination. Additional highlights include a spacious 4-car garage, a wraparound driveway for easy access and ample parking, proximity to dining and stores, and also being nearby major roads and highways. For savvy developers, this property offers multiple redevelopment possibilities, such as luxury lakefront condos or a private estate compound. Properties with this much lake frontage are extremely rare—don’t miss your chance to own a piece of Chautauqua Lake’s finest shoreline. Tons of potential and the location to match!

8. 2025-12-05
   historical 1135-char remark

   Show marketing remark (1135 chars)

   Discover a once-in-a-lifetime chance to own a truly unique property with an impressive 212 feet of lake frontage—a rare gem on the beautiful Chautauqua Lake. Nestled in a prime location, this expansive estate offers sweeping panoramic lake views and endless possibilities. The property features an 8-unit residence, offering incredible flexibility: keep it as an income-generating rental, convert it to a private family retreat, or redevelop and build your dream lakefront estate. Whether you’re an investor, homeowner, or visionary builder, this property is a canvas for your imagination. Additional highlights include a spacious 4-car garage, a wraparound driveway for easy access and ample parking, proximity to dining and stores, and also being nearby major roads and highways. For savvy developers, this property offers multiple redevelopment possibilities, such as luxury lakefront condos or a private estate compound. Properties with this much lake frontage are extremely rare—don’t miss your chance to own a piece of Chautauqua Lake’s finest shoreline. Tons of potential and the location to match!

9. 2025-09-05
   price $985,000 1135-char remark

   Show marketing remark (1135 chars)

   Discover a once-in-a-lifetime chance to own a truly unique property with an impressive 212 feet of lake frontage—a rare gem on the beautiful Chautauqua Lake. Nestled in a prime location, this expansive estate offers sweeping panoramic lake views and endless possibilities. The property features an 8-unit residence, offering incredible flexibility: keep it as an income-generating rental, convert it to a private family retreat, or redevelop and build your dream lakefront estate. Whether you’re an investor, homeowner, or visionary builder, this property is a canvas for your imagination. Additional highlights include a spacious 4-car garage, a wraparound driveway for easy access and ample parking, proximity to dining and stores, and also being nearby major roads and highways. For savvy developers, this property offers multiple redevelopment possibilities, such as luxury lakefront condos or a private estate compound. Properties with this much lake frontage are extremely rare—don’t miss your chance to own a piece of Chautauqua Lake’s finest shoreline. Tons of potential and the location to match!

10. 2025-09-05
    price $985,000

    Show marketing remark (1135 chars)

    Discover a once-in-a-lifetime chance to own a truly unique property with an impressive 212 feet of lake frontage—a rare gem on the beautiful Chautauqua Lake. Nestled in a prime location, this expansive estate offers sweeping panoramic lake views and endless possibilities. The property features an 8-unit residence, offering incredible flexibility: keep it as an income-generating rental, convert it to a private family retreat, or redevelop and build your dream lakefront estate. Whether you’re an investor, homeowner, or visionary builder, this property is a canvas for your imagination. Additional highlights include a spacious 4-car garage, a wraparound driveway for easy access and ample parking, proximity to dining and stores, and also being nearby major roads and highways. For savvy developers, this property offers multiple redevelopment possibilities, such as luxury lakefront condos or a private estate compound. Properties with this much lake frontage are extremely rare—don’t miss your chance to own a piece of Chautauqua Lake’s finest shoreline. Tons of potential and the location to match!

11. 2025-07-12
    historical $800
12. 2025-06-10
    listed $800
13. 2025-06-05
    listed $1,100,000 Active 1135-char remark

    Show marketing remark (1135 chars)

    Discover a once-in-a-lifetime chance to own a truly unique property with an impressive 212 feet of lake frontage—a rare gem on the beautiful Chautauqua Lake. Nestled in a prime location, this expansive estate offers sweeping panoramic lake views and endless possibilities. The property features an 8-unit residence, offering incredible flexibility: keep it as an income-generating rental, convert it to a private family retreat, or redevelop and build your dream lakefront estate. Whether you’re an investor, homeowner, or visionary builder, this property is a canvas for your imagination. Additional highlights include a spacious 4-car garage, a wraparound driveway for easy access and ample parking, proximity to dining and stores, and also being nearby major roads and highways. For savvy developers, this property offers multiple redevelopment possibilities, such as luxury lakefront condos or a private estate compound. Properties with this much lake frontage are extremely rare—don’t miss your chance to own a piece of Chautauqua Lake’s finest shoreline. Tons of potential and the location to match!

14. 2025-03-19
    historical $850
15. 2025-03-13
    listed $850
16. 2025-03-07
    historical $850
17. 2025-02-01
    listed $850
18. 2025-01-08
    historical $850
19. 2024-11-23
    listed $850
20. 2023-07-03
    historical
21. 2022-12-15
    listed $1,150,000 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: $11,770 · $981/mo
• Projected year-2 tax: $13,490 · $1,124/mo
• Expected delta: +$1,720/yr (+$143/mo · 14.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥90°F today · 16 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: $145,080
• − Mortgage interest: −$50,414
• − Property taxes: −$11,770
• − Insurance: −$4,500
• − Repairs & maintenance: −$11,606
• − Management: −$11,606
• − Depreciation: −$26,182
• Taxable income: $29,001
• Est. tax owed @ 24.0%: −$6,960
• After-tax cash flow: $34,746/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: Southwestern Central School District At Jamestown
• NCES district ID: 3627660
• Math proficiency: 45% ▼ -11.00%
• Reading proficiency: 56% ▲ 3.00%
• Median HH income: $50,567
• Composite: 43.21/100
• National rank: #3062
• State rank: #373 of 590 in NY

Livability — Lakewood

• Score: 71/100
• State rank: #398
• US rank: #6904

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,411

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 4% Slovak 2% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% German/W. Germanic 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: ▼ -26.43%
• Current HPI: 318.8566
• 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

-21.7% since first listed

16 events — show timeline

• 2026-04-23 Price Changed $900,000 UNYREIS
• 2025-12-08 Relisted — UNYREIS
• 2025-12-05 Listing Removed — UNYREIS
• 2025-09-05 Price Changed $985,000 UNYREIS
• 2025-09-05 Price Changed $985,000 UNYREIS
• 2025-07-12 Rental Removed $800 LEASESTAR
• 2025-06-10 Listed for Rent $800 LEASESTAR
• 2025-06-05 Listed $1,100,000 UNYREIS
• 2025-03-19 Rental Removed $850 LEASESTAR
• 2025-03-13 Listed for Rent $850 LEASESTAR
• 2025-03-07 Rental Removed $850 LEASESTAR
• 2025-02-01 Listed for Rent $850 LEASESTAR
• 2025-01-08 Rental Removed $850 LEASESTAR
• 2024-11-23 Listed for Rent $850 LEASESTAR
• 2023-07-03 Listing Removed — UNYREIS
• 2022-12-15 Listed $1,150,000 UNYREIS

Property tax history

-1.9%/yr

Latest (2025): $11,770 · -6.0% YoY. Source: county tax records.