321 Allen St · Jamestown, NY 14701

$30,000

6 bd · 4.0 ba · 2,300 sqft · MultiFamily public records · 20 Days on market

Built 1870 3,444 sqft lot Est $34k · 13% under

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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 +13.4/15.0
• 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 (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

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

Investor opportunity in the heart of Jamestown! This 4-unit property at 321 Allen St offers rare multi-family potential with strong long-term upside for the right buyer. The property is currently condemned and will require rehabilitation, but properties with four units are hard to come by, making this a unique chance to add a valuable asset to your portfolio while being part of the ongoing revitalization happening in the area. Whether you’re looking to renovate and hold for cash flow, build equity over time, or create quality housing in a growing market, this property offers the opportunity to put in the work upfront and reap the rewards down the road.

Key facts

• 3,444 sq ft lot
• Built 1870
• Listed 20 days

Property features AI

Finance

• Financial info: Building contains 4 total units with separate electric and gas meter arrangements (3 separate electric meters, 3 separate gas meters); Owner pays water; rent includes water; Operating expenses include water/sewer (see remarks)

Exterior

• Parking: No driveway
• Utilities: Public water connected; Sewer connected
• Home design: Two-story multifamily building; Resale property
• Construction: Vinyl siding; Existing structure (year built details: Existing)
• Exterior features: Rectangular lot (approx. 42 x 82)

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Four separate units: two 1-bedroom units and two 2-bedroom units
• Bathrooms: Four full bathrooms (one per unit)
• Heating & cooling: Electric heating with baseboard units; Heating details note: see remarks
• Interior features: Attic; Crawl space basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/4.0-bath units multifamily listed at $30k.

Deal economics

• At list price, monthly cash flow is $4k ($45k/yr) — positive. Per door: $928/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $30k).
• Recommended offer: $30k (1.5% below list) — sets the bar for market timing.
• Cap rate 154.8% 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; 127 units permitted in Chautauqua County in 2024 (0 in 5+ unit buildings).
• At $4,962/mo this rent would consume 120% 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 $207 of loan paydown is wiped out by about $900 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($30k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 5y 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 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $29,550 (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 1870 — 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: 16.54% ✓
• Cap rate: 154.80%
• Cash-on-cash: 530.38%
• DSCR: 24.60
• GRM: 0.5

CMA / ARV

• ARV (on-the-fly): $34,500
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
211 Crescent St	0.48mi	6/2.0	2,184 (-5%)	5mo	$16,500	$8	57
104 Willard St	0.27mi	5/3.0 (-1)	2,222 (-3%)	24mo	$21,500	$10	53
85 Hazzard St	0.53mi	6/3.0	2,341 (+2%)	18mo	$59,000	$25	53
413 Winsor St	0.52mi	6/4.0	2,477 (+8%)	18mo	$82,500	$33	48
335 Foote Ave	0.40mi	6/3.0	2,634 (+14%)	8mo	$20,500	$8	46
222 S Main St	0.56mi	5/2.0 (-1)	2,443 (+6%)	6mo	$24,500	$10	46
7 Lincoln St	0.45mi	5/2.0 (-1)	2,090 (-9%)	10mo	$32,000	$15	43
93 Barker St	0.74mi	5/2.0 (-1)	2,190 (-5%)	3mo	$8,000	$4	42
100 Hazzard St	0.57mi	5/2.0 (-1)	2,375 (+3%)	16mo	$76,750	$32	41
323 Newland Ave	0.72mi	7/4.0 (+1)	2,475 (+8%)	9mo	$84,900	$34	41
11 Mckinley Ave	0.63mi	5/3.0 (-1)	2,008 (-13%)	3mo	$54,000	$27	38

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: 28.58×
• Total profit: $231,675
• Equity at exit: $4,473

10-year hold

• IRR: —
• Equity multiple: 61.30×
• Total profit: $506,524
• Equity at exit: $2,594

Cash invested: $8,400 (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: 2.0×

Monthly cashflow live

• Estimated rent: $4,962 medium
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$38 /mo · $450/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,042
• Net cashflow: $3,713

Break-even live

Break-even rent $262

Max offer price $30,000

Occupancy floor 20%

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

Units	Beds	Baths	Est. rent
▸ 4× units	6	4	$4,960
Total (4 units)			$4,962

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-16
   status $30,000 Pending 20 DOM
2. 2026-06-15
   days on market $30,000 Active 20 DOM
3. 2026-06-14
   days on market $30,000 Active 18 DOM
4. 2026-06-12
   days on market $30,000 Active 17 DOM
5. 2026-06-09
   days on market $30,000 Active 14 DOM
6. 2026-06-08
   days on market $30,000 Active 13 DOM
7. 2026-06-07
   days on market $30,000 Active 12 DOM
8. 2026-06-05
   days on market $30,000 Active 9 DOM
9. 2026-06-02
   days on market $30,000 Active 7 DOM
10. 2026-06-01
    days on market $30,000 Active 6 DOM
11. 2026-05-31
    days on market $30,000 Active 5 DOM
12. 2026-05-30
    days on market $30,000 Active 4 DOM
13. 2026-05-26
    listed $30,000 Active
14. 2026-01-30
    historical
15. 2025-10-19
    price $35,000
16. 2025-10-09
    status Active
17. 2025-10-09
    price $45,000
18. 2025-06-05
    status Pending
19. 2025-01-31
    listed $59,400 Active
20. 2024-12-11
    historical
21. 2024-10-31
    status Active
22. 2024-07-26
    status Pending
23. 2023-12-12
    listed $54,900 Active
24. 2023-10-17
    listed $54,900 Active
25. 2023-10-17
    historical
26. 2023-08-02
    price $55,000
27. 2023-08-01
    historical
28. 2023-02-06
    listed $64,900 Active
29. 2022-12-06
    historical
30. 2022-08-16
    price $64,900
31. 2022-06-06
    listed $69,900 Active
32. 2021-10-06
    soldstatus $57,500
33. 2021-10-06
    listed $60,000
34. 2021-10-05
    soldstatus $172,500

ⓘ 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: $59,544
• − Mortgage interest: −$1,680
• − Property taxes: −$450
• − Insurance: −$150
• − Repairs & maintenance: −$4,764
• − Management: −$4,764
• − Depreciation: −$873
• Taxable income: $46,864
• Est. tax owed @ 24.0%: −$11,247
• After-tax cash flow: $33,305/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

-82.6% since first listed

22 events — show timeline

• 2026-05-26 Listed $30,000 UNYREIS
• 2026-01-30 Listing Removed — UNYREIS
• 2025-10-19 Price Changed $35,000 UNYREIS
• 2025-10-09 Relisted — UNYREIS
• 2025-10-09 Price Changed $45,000 UNYREIS
• 2025-06-05 Pending — UNYREIS
• 2025-01-31 Listed $59,400 UNYREIS
• 2024-12-11 Listing Removed — UNYREIS
• 2024-10-31 Relisted — UNYREIS
• 2024-07-26 Pending — UNYREIS
• 2023-12-12 Listed $54,900 UNYREIS
• 2023-10-17 Listing Removed — UNYREIS
• 2023-10-17 Listed $54,900 UNYREIS
• 2023-08-02 Price Changed $55,000 UNYREIS
• 2023-08-01 Listing Removed — UNYREIS
• 2023-02-06 Listed $64,900 UNYREIS
• 2022-12-06 Listing Removed — UNYREIS
• 2022-08-16 Price Changed $64,900 UNYREIS
• 2022-06-06 Listed $69,900 UNYREIS
• 2021-10-06 Listed $60,000 UNYREIS
• 2021-10-06 Sold (MLS) $57,500 UNYREIS
• 2021-10-05 Sold (Public Records) $172,500 Public Records

Property tax history

+6.3%/yr

Latest (2025): $3,952 · +136.2% YoY. Source: county tax records.