217 Steele St · Jamestown, NY 14701

$59,900

4 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 42 Days on market

Built 1906 4,142 sqft lot $45/sqft · 51% below area ↓ 20% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Listing remarks

Here is your chance to become a part of the revitalization efforts in Jamestown. Located across from a peaceful river setting, this property offers solid potential. Featuring four small bedrooms and beautiful original woodwork, this home has been well maintained by the same owner for over 60 years. There is a walk-up attic area that would make a great storage area or additional office space. Recent updates include a newer hot water tank, newer furnace, updated PEX plumbing, and some newer fixtures throughout. The property offers solid bones, scenic water views, and opportunity for future upside as redevelopment continues in the area. Bring your creativity and ambition to breathe new life in

Key facts

• Updated pex plumbing
• Newer furnace
• Newer hot water tank

Tags

• ORIGINAL WOODWORK
• WALK-UP ATTIC
• NEWER HOT WATER TANK
• NEWER FURNACE
• UPDATED PEX PLUMBING
• SCENIC WATER VIEWS

Property features AI

Exterior

• Parking: No garage; No driveway
• Utilities: Sewer connected; Water source: lake/river
• Home design: 2-story existing residence; Resale property
• Construction: Wood siding; PEX plumbing; Block and poured foundation
• Exterior features: Rectangular lot (approx. 37 x 110)

Interior

• Kitchen: Dishwasher; Electric cooktop
• Bedrooms: Total rooms: 7
• Flooring: Carpet; Hardwood; Vinyl; Varies
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas heating; Forced air heating
• Interior features: Eat-in kitchen; Natural woodwork; See remarks / other
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $691 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.1% vs local median 16.6% in Jamestown — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 1 comparable units currently listed for rent nearby; 127 units permitted in Chautauqua County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1906 — 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 42 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 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.34% ✓
• Cap rate: 20.14%
• Cash-on-cash: 49.46%
• DSCR: 3.20
• GRM: 3.6

CMA / ARV

• ARV (median comp): $121,293
• List price: $59,900
• Delta: -50.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26 Hess St	0.39mi	3/1.0 (-1)	1,360 (+1%)	5mo	$145,000	$107	71
32 Meadow Ln	0.57mi	4/1.5	1,347 (+0%)	2mo	$129,000	$96	70
80 Stewart Ave	0.42mi	3/1.5 (-1)	1,365 (+2%)	4mo	$97,335	$71	68
1389 Newland Ave	0.58mi	3/1.0 (-1)	1,328 (-1%)	4mo	$65,000	$49	63
93 Summit Ave	0.43mi	3/1.0 (-1)	1,248 (-7%)	6mo	$75,000	$60	58
9 Myers Ave	0.62mi	3/1.0 (-1)	1,290 (-4%)	3mo	$35,000	$27	57
306 Charles St	0.71mi	3/1.0 (-1)	1,320 (-2%)	5mo	$75,000	$57	54
44 Meadow Ln	0.59mi	3/1.5 (-1)	1,428 (+6%)	1mo	$116,494	$82	54
9 Stearns Ave	0.55mi	3/1.5 (-1)	1,443 (+7%)	3mo	$13,500	$9	53
504 W 8th St	0.49mi	3/2.0 (-1)	1,221 (-9%)	4mo	$45,000	$37	50
24 Meadow Ln	0.56mi	3/2.0 (-1)	1,525 (+14%)	6mo	$100,000	$66	38
71 S Chicago Ave	0.75mi	3/2.0 (-1)	1,200 (-11%)	4mo	$176,663	$147	35

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: 47.1%
• Equity multiple: 3.05×
• Total profit: $34,342
• Equity at exit: $8,931

10-year hold

• IRR: 52.8%
• Equity multiple: 6.17×
• Total profit: $86,683
• 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: 3.6×

Monthly cashflow live

• Estimated rent: $1,400 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$76 /mo · $907/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $691

Break-even live

Break-even rent $525

Max offer price $59,900

Occupancy floor 46%

Sensitivity live

Price	-10% $725	-5% $708	+0% $691	+5% $674	+10% $657
Rent	-10% $581	-5% $636	+0% $691	+5% $747	+10% $802
Rate	-1.0pp $721	-0.5pp $706	base $691	+0.5pp $676	+1.0pp $660

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: —

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	44d	1	1.18mi

Listing history 16 events

1. 2026-06-19
   days on market $59,900 Active 42 DOM
2. 2026-06-18
   days on market $59,900 Active 41 DOM
3. 2026-06-17
   days on market $59,900 Active 40 DOM
4. 2026-06-16
   days on market $59,900 Active 39 DOM
5. 2026-06-15
   days on market $59,900 Active 38 DOM
6. 2026-06-14
   days on market $59,900 Active 36 DOM
7. 2026-06-12
   days on market $59,900 Active 35 DOM
8. 2026-06-09
   days on market $59,900 Active 32 DOM
9. 2026-06-08
   days on market $59,900 Active 31 DOM
10. 2026-06-07
    days on market $59,900 Active 30 DOM
11. 2026-06-05
    days on market $59,900 Active 27 DOM
12. 2026-06-02
    days on market $59,900 Active 25 DOM
13. 2026-06-01
    days on market $59,900 Active 24 DOM
14. 2026-05-31
    days on market $59,900 Active 23 DOM
15. 2026-05-30
    days on market $59,900 Active 22 DOM
16. 2026-05-08
    listed $74,900 Active 842-char remark

ⓘ 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: $907 · $76/mo
• Projected year-2 tax: $960 · $80/mo
• Expected delta: +$53/yr (+$4/mo · 5.8%)

ⓘ 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 1/10 Low 7 d/yr ≥91°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: $16,799
• − Mortgage interest: −$3,355
• − Property taxes: −$907
• − Insurance: −$300
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − Depreciation: −$1,743
• Taxable income: $7,807
• Est. tax owed @ 24.0%: −$1,874
• After-tax cash flow: $6,422/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

-20.0% since first listed

2 events — show timeline

• 2026-05-22 Price Changed $59,900 UNYREIS
• 2026-05-08 Listed $74,900 UNYREIS

Property tax history

-5.1%/yr

Latest (2025): $907 · +3.5% YoY. Source: county tax records.