11 Prather Ave · Jamestown, NY 14701

$82,500

3 bd · 2.0 ba · 1,688 sqft · MultiFamily public records · 56 Days on market

Built 1907 9,148 sqft lot

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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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Investment, could be easily opened back to a SFD, long term tenants will like to stay, nothing to do, good overall condition with recent upgrades.

Key facts

• Large eat in kitchen
• Tub reglazed
• 9,148 sq ft lot

Tags

• OPEN DINING LIVING CONCEPT
• LARGE EAT IN KITCHEN
• PARTIALLY FINISHED BASEMENT
• HARDWOOD FLOORS REFINISHED
• GAS STOVE AND REFRIGERATOR
• TUB REGLAZED

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $82k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $577/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $82k).
• Recommended offer: $80k (3.0% below list) — sets the bar for market timing.
• Cap rate 23.1% 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).
• At $2,283/mo this rent would consume 55% 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 $570 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 $23k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 20y 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 $68k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,025 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% 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 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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 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: 2.77% ✓
• Cap rate: 23.08%
• Cash-on-cash: 59.94%
• DSCR: 3.67
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $47,264
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 Prather Ave	0.00mi	3/2.0	1,688 (0%)	1mo	$78,000	$46	99
52 Mckinley Ave	0.17mi	4/2.0 (+1)	1,799 (+7%)	12mo	$14,000	$8	67
102 Williams St	0.29mi	4/2.0 (+1)	1,540 (-9%)	3mo	$50,000	$32	64
93 Barrett Ave	0.11mi	2/2.0 (-1)	1,919 (+14%)	3mo	$50,000	$26	64
125 Superior St	0.47mi	4/2.0 (+1)	1,744 (+3%)	7mo	$85,000	$49	62
419 Newland Ave	0.36mi	4/2.0 (+1)	1,787 (+6%)	11mo	$27,000	$15	59
171 Baker St	0.40mi	4/2.0 (+1)	1,452 (-14%)	1mo	$40,000	$28	52
407 Foote Ave	0.58mi	2/2.0 (-1)	1,823 (+8%)	3mo	$38,000	$21	52
273 S Main St	0.49mi	4/1.0 (+1)	1,600 (-5%)	11mo	$21,000	$13	50
307 W 6th St	0.57mi	3/2.5	1,499 (-11%)	5mo	$100,000	$67	49
127 Maple St	0.65mi	4/2.0 (+1)	1,834 (+9%)	3mo	$13,000	$7	48
79 Pershing Ave	0.70mi	2/2.0 (-1)	1,728 (+2%)	14mo	$119,000	$69	47

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: 58.7%
• Equity multiple: 3.61×
• Total profit: $60,202
• Equity at exit: $12,301

10-year hold

• IRR: 63.5%
• Equity multiple: 7.38×
• Total profit: $147,389
• Equity at exit: $7,133

Cash invested: $23,100 (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: 6.0×

Monthly cashflow live

• Estimated rent: $2,283 medium
• Mortgage (P&I): −$433
• Tax from tax record: −$183 /mo · $2,193/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $1,154

Break-even live

Break-even rent $822

Max offer price $82,500

Occupancy floor 44%

Sensitivity live

Price	-10% $1,201	-5% $1,177	+0% $1,154	+5% $1,130	+10% $1,107
Rent	-10% $973	-5% $1,064	+0% $1,154	+5% $1,244	+10% $1,334
Rate	-1.0pp $1,195	-0.5pp $1,175	base $1,154	+0.5pp $1,132	+1.0pp $1,111

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,282
Total (2 units)			$2,283

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: $20,625
• Closing costs: $2,475
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	0.63mi
317 Fairmount Ave Unit G-1 Jamestown, NY	2.0	2.0	1215	$1,295	$1.07	44d	1	1.07mi

Listing history 20 events

1. 2026-04-11
   status Pending
2. 2026-03-10
   historical Active Under Contract
3. 2026-02-14
   listed $82,500 Active
4. 2026-02-08
   historical
5. 2026-02-06
   historical $600
6. 2026-01-31
   listed $600
7. 2026-01-13
   historical $600
8. 2025-12-06
   listed $600
9. 2025-12-06
   historical $500
10. 2025-10-09
    listed $500
11. 2025-08-07
    price $79,000
12. 2025-05-08
    listed $89,000 Active
13. 2022-04-01
    soldstatus $68,500 Closed Sale or Rented 146-char remark

    Show marketing remark (146 chars)

    Investment, could be easily opened back to a SFD, long term tenants will like to stay, nothing to do, good overall condition with recent upgrades.

14. 2022-03-23
    soldstatus $68,500
15. 2022-01-20
    status Pending Sale 146-char remark

    Show marketing remark (146 chars)

    Investment, could be easily opened back to a SFD, long term tenants will like to stay, nothing to do, good overall condition with recent upgrades.

16. 2021-10-21
    listed $72,500 Active 146-char remark

    Show marketing remark (146 chars)

    Investment, could be easily opened back to a SFD, long term tenants will like to stay, nothing to do, good overall condition with recent upgrades.

17. 2008-11-17
    soldstatus $45,000
18. 2008-11-07
    soldstatus $45,000
19. 2008-03-14
    listed $47,521
20. 2006-10-27
    listed $49,900

ⓘ 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: $2,193 · $183/mo
• Projected year-2 tax: $2,193 · $183/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $27,396
• − Mortgage interest: −$4,621
• − Property taxes: −$2,193
• − Insurance: −$412
• − Repairs & maintenance: −$2,192
• − Management: −$2,192
• − Depreciation: −$2,400
• Taxable income: $13,386
• Est. tax owed @ 24.0%: −$3,213
• After-tax cash flow: $10,633/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

+65.3% since first listed

20 events — show timeline

• 2026-04-11 Pending — UNYREIS
• 2026-03-10 Contingent — UNYREIS
• 2026-02-14 Listed $82,500 UNYREIS
• 2026-02-08 Listing Removed — UNYREIS
• 2026-02-06 Rental Removed $600 RENTSPREE
• 2026-01-31 Listed for Rent $600 RENTSPREE
• 2026-01-13 Rental Removed $600 UNYREIS
• 2025-12-06 Listed for Rent $600 UNYREIS
• 2025-12-06 Rental Removed $500 RENTSPREE
• 2025-10-09 Listed for Rent $500 RENTSPREE
• 2025-08-07 Price Changed $79,000 UNYREIS
• 2025-05-08 Listed $89,000 UNYREIS
• 2022-04-01 Sold (MLS) $68,500 UNYREIS
• 2022-03-23 Sold (Public Records) $68,500 Public Records
• 2022-01-20 Pending — UNYREIS
• 2021-10-21 Listed $72,500 UNYREIS
• 2008-11-17 Sold (MLS) $45,000 UNYREIS
• 2008-11-07 Sold (Public Records) $45,000 Public Records
• 2008-03-14 Listed $47,521 UNYREIS
• 2006-10-27 Listed $49,900 UNYREIS

Property tax history

-4.2%/yr

Latest (2025): $2,193 · +4.8% YoY. Source: county tax records.