28 W 9th St · Jamestown, NY 14701

$20,000

3 bd · 2.0 ba · 1,920 sqft · MultiFamily public records · 1 Days on market

Built 1885 5,445 sqft lot ↓ 53% since listing

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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: 1 unit. estimate disagrees with records

Listing remarks

Priced to sell two unit. Lower unit is a 1 bed 1 bath and the upper is a 2 bedroom 1 bath. The downstairs unit needs a new forced air furnace. The house could also very easily be converted back to a single family home.

Key facts

• 5,445 sq ft lot
• 2 parking spots
• Built 1885

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $20k.

Deal economics

• At list price, monthly cash flow is $915 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Cap rate 61.2% vs local median 16.8% 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: 315 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 32% 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 $138 of loan paydown is wiped out by about $600 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 1885 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $20,000

Questions for the listing agent

1. Built in 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 6.67% ✓
• Cap rate: 61.21%
• Cash-on-cash: 196.11%
• DSCR: 9.73
• GRM: 1.2

CMA / ARV

• ARV (on-the-fly): $63,360
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7 Valley St	0.08mi	4/2.0 (+1)	2,054 (+7%)	10mo	$67,000	$33	71
245 Fulton St	0.26mi	4/2.0 (+1)	2,118 (+10%)	2mo	$47,000	$22	64
31 Falconer St	0.42mi	4/2.0 (+1)	1,860 (-3%)	8mo	$109,000	$59	63
120 Price St	0.36mi	4/2.0 (+1)	1,883 (-2%)	16mo	$65,500	$35	61
423 Lincoln St	0.43mi	3/2.0	1,661 (-14%)	5mo	$53,000	$32	54
435 Crossman St	0.59mi	4/2.0 (+1)	1,882 (-2%)	16mo	$115,000	$61	51
416 W 6th St	0.37mi	4/2.0 (+1)	2,149 (+12%)	12mo	$57,000	$27	48
5 Sturges St	0.60mi	4/2.0 (+1)	1,892 (-2%)	23mo	$52,000	$27	45
317 Van Buren St	0.55mi	4/2.0 (+1)	1,830 (-5%)	20mo	$67,000	$37	44
84 Sturges St	0.68mi	4/2.0 (+1)	1,980 (+3%)	17mo	$74,400	$38	44
612 Monroe St	0.41mi	4/3.0 (+1)	2,144 (+12%)	15mo	$41,000	$19	40

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: 10.83×
• Total profit: $55,069
• Equity at exit: $2,982

10-year hold

• IRR: —
• Equity multiple: 22.98×
• Total profit: $123,092
• Equity at exit: $1,729

Cash invested: $5,600 (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: 315
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $1,333 medium
• Mortgage (P&I): −$105
• Tax est. 1.5%: −$25 /mo · $300/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $915

Break-even live

Break-even rent $175

Max offer price $20,000

Occupancy floor 26%

Sensitivity live

Price	-10% $929	-5% $922	+0% $915	+5% $908	+10% $901
Rent	-10% $810	-5% $863	+0% $915	+5% $968	+10% $1,021
Rate	-1.0pp $925	-0.5pp $920	base $915	+0.5pp $910	+1.0pp $905

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: $5,000
• Closing costs: $600
• 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	45d	1	1.19mi

Listing history 8 events

1. 2026-01-28
   status Pending
2. 2026-01-27
   listed $20,000 Active
3. 2025-12-31
   historical
4. 2025-11-19
   price $34,998
5. 2025-11-03
   price $34,999
6. 2025-09-24
   price $36,500
7. 2025-07-14
   price $39,900
8. 2025-06-17
   listed $42,500 Active

ⓘ 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: $16,001
• − Mortgage interest: −$1,120
• − Property taxes: −$300
• − Insurance: −$100
• − Repairs & maintenance: −$1,280
• − Management: −$1,280
• − Depreciation: −$582
• Taxable income: $11,339
• Est. tax owed @ 24.0%: −$2,721
• After-tax cash flow: $8,261/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

-52.9% since first listed

8 events — show timeline

• 2026-01-28 Pending — UNYREIS
• 2026-01-27 Listed $20,000 UNYREIS
• 2025-12-31 Listing Removed — UNYREIS
• 2025-11-19 Price Changed $34,998 UNYREIS
• 2025-11-03 Price Changed $34,999 UNYREIS
• 2025-09-24 Price Changed $36,500 UNYREIS
• 2025-07-14 Price Changed $39,900 UNYREIS
• 2025-06-17 Listed $42,500 UNYREIS

Property tax history

-4.3%/yr

Latest (2025): $1,316 · +4.8% YoY. Source: county tax records.