205 Palmer St · Jamestown, NY 14701

$39,900

3 bd · 2.0 ba · 1,636 sqft · MultiFamily public records · 105 Days on market

Built 1901 6,000 sqft lot $24/sqft · 56% below area

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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 +7.5/15.0
• 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 MLS

* * Investor Opportunity – 205 Palmer St Two-Unit Rental Property * * Don’t miss this * * income-producing investment opportunity at 205 Palmer St * * . This * * two-unit rental property * * has strong potential for investors looking to expand their portfolio with a property positioned in a convenient, tenant-friendly area. The building features * * two separate units * * , making it ideal for generating * * dual rental income * * or for an owner-occupant looking to offset their mortgage by renting the second unit. With the right updates and management strategy, this property presents a solid * * value-add opportunity * * with room to increase rents and long-term equity. Located in a practical residential area, the property sits * * close to Lincoln Elementary School * * , a major convenience for families. It’s also just minutes from * * 3rd Street shopping * * , including * * Dollar General * * , giving tenants quick access to everyday essentials. The surrounding neighborhood has easy access to local amenities, helping support steady rental demand. * * Investment Highlights * * * Two-unit residential property * Opportunity for dual rental income * Close to Lincoln Elementary School * Minutes from 3rd Street amenities including Dollar General * Strong rental demand area * Potential value-add with updates Whether you're seeking a * * cash-flowing rental, a house-hack opportunity, or your next renovation project * * , * * 205 Palmer St has solid investment potential in a convenient area. * * * Add this property to your portfolio and take advantage of the income possibilities. * AS-IS

Key facts

• 6,000 sq ft lot
• 2 garage spots
• Built 1901

🏷️ Possibly a rental listed for sale. The $39,900 price doesn't fit this home's estimated sale value (~$91,389) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $40k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $563/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $36k (9.0% below list) — sets the bar for market timing.
• Cap rate 40.1% 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; 2 comparable units currently listed for rent nearby; 127 units permitted in Chautauqua County in 2024 (0 in 5+ unit buildings).
• This rent runs 43% 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 $276 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($36k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $36,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% 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 1901 — 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. 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?
8. 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?
9. 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.
10. 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.
11. 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: 4.45% ✓
• Cap rate: 40.15%
• Cash-on-cash: 120.92%
• DSCR: 6.38
• GRM: 1.9

CMA / ARV

• ARV (median comp): $91,389
• List price: $39,900
• Delta: -56.34%
• 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
102 Williams St	0.24mi	4/2.0 (+1)	1,540 (-6%)	3mo	$50,000	$32	72
11 Prather Ave	0.51mi	3/2.0	1,688 (+3%)	1mo	$78,000	$46	70
207 Palmer St	0.01mi	4/2.0 (+1)	1,394 (-15%)	1mo	$85,000	$61	69
171 Baker St	0.13mi	4/2.0 (+1)	1,452 (-11%)	1mo	$40,000	$28	69
113 Hall Ave	0.43mi	4/2.0 (+1)	1,631 (-0%)	9mo	$69,400	$43	67
79 Pershing Ave	0.19mi	2/2.0 (-1)	1,728 (+6%)	14mo	$119,000	$69	64
125 Fairview Ave	0.40mi	4/2.0 (+1)	1,624 (-1%)	16mo	$95,000	$58	62
307 W 6th St	0.62mi	3/2.5	1,499 (-8%)	5mo	$100,000	$67	51
15 Kelsey Pl	0.35mi	4/2.0 (+1)	1,425 (-13%)	15mo	$80,000	$56	44
125 Superior St	0.73mi	4/2.0 (+1)	1,744 (+7%)	7mo	$85,000	$49	44
52 Mckinley Ave	0.64mi	4/2.0 (+1)	1,799 (+10%)	12mo	$14,000	$8	39
53 Hallock St	0.48mi	2/3.0 (-1)	1,402 (-14%)	9mo	$53,000	$38	37

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: $65,259
• Equity at exit: $5,949

10-year hold

• IRR: —
• Equity multiple: 14.36×
• Total profit: $149,257
• Equity at exit: $3,450

Cash invested: $11,172 (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: 3.7×

Monthly cashflow live

• Estimated rent: $1,774 medium
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $1,126

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 32%

Sensitivity live

Price	-10% $1,153	-5% $1,140	+0% $1,126	+5% $1,112	+10% $1,098
Rent	-10% $986	-5% $1,056	+0% $1,126	+5% $1,196	+10% $1,266
Rate	-1.0pp $1,146	-0.5pp $1,136	base $1,126	+0.5pp $1,115	+1.0pp $1,105

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,774
Total (2 units)			$1,774

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
317 Fairmount Ave Unit G-1 Jamestown, NY	2.0	2.0	1215	$1,295	$1.07	44d	1	0.65mi
148 Maple St Jamestown, NY	3.0	1.0	1424	$1,350	$0.95	44d	1	1.13mi

Listing history 16 events

1. 2026-06-19
   days on market $39,900 Active 105 DOM
2. 2026-06-18
   days on market $39,900 Active 104 DOM
3. 2026-06-17
   days on market $39,900 Active 103 DOM
4. 2026-06-16
   days on market $39,900 Active 102 DOM
5. 2026-06-15
   days on market $39,900 Active 101 DOM
6. 2026-06-14
   days on market $39,900 Active 99 DOM
7. 2026-06-12
   days on market $39,900 Active 98 DOM
8. 2026-06-09
   days on market $39,900 Active 95 DOM
9. 2026-06-08
   days on market $39,900 Active 94 DOM
10. 2026-06-07
    days on market $39,900 Active 93 DOM
11. 2026-06-05
    days on market $39,900 Active 90 DOM
12. 2026-06-02
    days on market $39,900 Active 88 DOM
13. 2026-06-01
    days on market $39,900 Active 87 DOM
14. 2026-05-31
    days on market $39,900 Active 86 DOM
15. 2026-05-30
    days on market $39,900 Active 85 DOM
16. 2026-03-06
    listed $39,900 Active 1699-char remark

    Show marketing remark (1699 chars)

    * * Investor Opportunity – 205 Palmer St Two-Unit Rental Property * * Don’t miss this * * income-producing investment opportunity at 205 Palmer St * * . This * * two-unit rental property * * has strong potential for investors looking to expand their portfolio with a property positioned in a convenient, tenant-friendly area. The building features * * two separate units * * , making it ideal for generating * * dual rental income * * or for an owner-occupant looking to offset their mortgage by renting the second unit. With the right updates and management strategy, this property presents a solid * * value-add opportunity * * with room to increase rents and long-term equity. Located in a practical residential area, the property sits * * close to Lincoln Elementary School * * , a major convenience for families. It’s also just minutes from * * 3rd Street shopping * * , including * * Dollar General * * , giving tenants quick access to everyday essentials. The surrounding neighborhood has easy access to local amenities, helping support steady rental demand. * * Investment Highlights * * * Two-unit residential property * Opportunity for dual rental income * Close to Lincoln Elementary School * Minutes from 3rd Street amenities including Dollar General * Strong rental demand area * Potential value-add with updates Whether you're seeking a * * cash-flowing rental, a house-hack opportunity, or your next renovation project * * , * * 205 Palmer St has solid investment potential in a convenient area. * * * Add this property to your portfolio and take advantage of the income possibilities. * AS-IS

ⓘ 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 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: $21,288
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$1,703
• − Management: −$1,703
• − Depreciation: −$1,161
• Taxable income: $13,688
• Est. tax owed @ 24.0%: −$3,285
• After-tax cash flow: $10,223/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

1 event — show timeline

• 2026-03-06 Listed $39,900 UNYREIS

Property tax history

-4.2%/yr

Latest (2025): $2,741 · +4.8% YoY. Source: county tax records.