3 Lake St · Jamestown, NY 14701

$30,000

4 bd · 2.0 ba · 1,808 sqft · MultiFamily public records · 159 Days on market

Built 1889 6,028 sqft lot Est $58k · 48% under

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Why this score? — see what drove the C- 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 +15.0/15.0
• 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

Multi-family home with lower unit tenant occupied. Upper unit was previously rented for $500/month. Tenants pay utilities. Home can be packaged with other properties.

Key facts

• 6,028 sq ft lot
• Parking
• Built 1889

Property features AI

Finance

• Other: Owner pays grounds care; rent includes gardener
• Financial info: Property configured as a 2-unit building; Each unit has its own rent (one recorded at $525, the other at $400); Operating expenses include maintenance of structure

Exterior

• Parking: On-site parking available
• Utilities: Public water connected; Sewer connected; Separate utility meters for each unit
• Home design: 2-story building; Resale property; Wood siding exterior
• Construction: Wood siding construction; Existing structure
• Exterior features: Irregular residential lot; City street frontage; Lot dimensions approximately 54 x 110

Interior

• Kitchen: Gas water heater (appliance noted)
• Bedrooms: Each unit has 2 bedrooms (2 units total)
• Flooring: Vinyl; Varies by area
• Bathrooms: Each unit has 1 full bathroom (2 units total)
• Heating & cooling: Gas forced-air heating
• Interior features: Varied and vinyl flooring; Full basement
• Laundry & utility: Separate gas meters for each unit; Separate electric meters for each unit

🏷️ Possibly a rental listed for sale. The $30,000 price doesn't fit this home's estimated sale value (~$57,856) 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 $30k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $581/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $30k).
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.
• Cap rate 52.7% 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; 1 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 $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 159 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y ago; this cycle's ask has dropped $15k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $22k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1889 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $26,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 159 days. Have you received any prior offers? Is the seller open to a 12% 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 1889 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
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: 5.94% ✓
• Cap rate: 52.74%
• Cash-on-cash: 165.87%
• DSCR: 8.38
• GRM: 1.4

CMA / ARV

• ARV (on-the-fly): $57,856
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
125 Superior St	0.42mi	4/2.0	1,744 (-4%)	7mo	$85,000	$49	69
52 Mckinley Ave	0.46mi	4/2.0	1,799 (-0%)	12mo	$14,000	$8	68
50 Colfax St	0.11mi	4/2.0	1,996 (+10%)	15mo	$60,000	$30	66
419 Newland Ave	0.51mi	4/2.0	1,787 (-1%)	11mo	$27,000	$15	65
11 Prather Ave	0.40mi	3/2.0 (-1)	1,688 (-7%)	1mo	$78,000	$46	64
102 Williams St	0.32mi	4/2.0	1,540 (-15%)	3mo	$50,000	$32	58
64 Barrett Ave	0.34mi	3/2.0 (-1)	1,917 (+6%)	16mo	$37,000	$19	56
71 Myrtle St	0.45mi	4/2.0	2,016 (+12%)	6mo	$67,000	$33	54
618 Newland Ave	0.38mi	3/2.0 (-1)	2,044 (+13%)	9mo	$65,000	$32	48
11 Mckinley Ave	0.54mi	5/3.0 (+1)	2,008 (+11%)	3mo	$54,000	$27	44
113 Hall Ave	0.75mi	4/2.0	1,631 (-10%)	9mo	$69,400	$43	42
273 S Main St	0.70mi	4/1.0	1,600 (-12%)	11mo	$21,000	$13	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: —
• Equity multiple: 9.23×
• Total profit: $69,140
• Equity at exit: $4,473

10-year hold

• IRR: —
• Equity multiple: 19.53×
• Total profit: $155,638
• 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: 2.8×

Monthly cashflow live

• Estimated rent: $1,783 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$78 /mo · $932/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $1,161

Break-even live

Break-even rent $313

Max offer price $30,000

Occupancy floor 30%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,782
Total (2 units)			$1,783

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: —

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	0.91mi

Listing history 14 events

1. 2026-04-26
   status Pending
2. 2026-04-10
   price $30,000
3. 2025-11-18
   listed $45,000 Active
4. 2020-04-09
   soldstatus $22,000 Closed Sale or Rented 166-char remark

   Show marketing remark (166 chars)

   Multi-family home with lower unit tenant occupied. Upper unit was previously rented for $500/month. Tenants pay utilities. Home can be packaged with other properties.

5. 2020-02-24
   status Pending Sale 166-char remark

   Show marketing remark (166 chars)

   Multi-family home with lower unit tenant occupied. Upper unit was previously rented for $500/month. Tenants pay utilities. Home can be packaged with other properties.

6. 2020-02-24
   status Active 166-char remark

   Show marketing remark (166 chars)

   Multi-family home with lower unit tenant occupied. Upper unit was previously rented for $500/month. Tenants pay utilities. Home can be packaged with other properties.

7. 2019-08-19
   historical 166-char remark

   Show marketing remark (166 chars)

   Multi-family home with lower unit tenant occupied. Upper unit was previously rented for $500/month. Tenants pay utilities. Home can be packaged with other properties.

8. 2019-05-24
   price $29,900 166-char remark

   Show marketing remark (166 chars)

   Multi-family home with lower unit tenant occupied. Upper unit was previously rented for $500/month. Tenants pay utilities. Home can be packaged with other properties.

9. 2019-02-25
   listed $34,900 Active 166-char remark

   Show marketing remark (166 chars)

   Multi-family home with lower unit tenant occupied. Upper unit was previously rented for $500/month. Tenants pay utilities. Home can be packaged with other properties.

10. 2009-12-09
    soldstatus $17,000
11. 2008-06-30
    listed $45,921
12. 2003-05-26
    soldstatus $12,500
13. 2003-05-14
    soldstatus $12,500
14. 2003-03-17
    listed $21,000

ⓘ 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: $932 · $78/mo
• Projected year-2 tax: $932 · $78/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 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: $21,396
• − Mortgage interest: −$1,680
• − Property taxes: −$932
• − Insurance: −$150
• − Repairs & maintenance: −$1,712
• − Management: −$1,712
• − Depreciation: −$873
• Taxable income: $14,337
• Est. tax owed @ 24.0%: −$3,441
• After-tax cash flow: $10,492/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

+42.9% since first listed

14 events — show timeline

• 2026-04-26 Pending — UNYREIS
• 2026-04-10 Price Changed $30,000 UNYREIS
• 2025-11-18 Listed $45,000 UNYREIS
• 2020-04-09 Sold (MLS) $22,000 UNYREIS
• 2020-02-24 Pending — UNYREIS
• 2020-02-24 Relisted — UNYREIS
• 2019-08-19 Listing Removed — UNYREIS
• 2019-05-24 Price Changed $29,900 UNYREIS
• 2019-02-25 Listed $34,900 UNYREIS
• 2009-12-09 Sold (Public Records) $17,000 Public Records
• 2008-06-30 Listed $45,921 UNYREIS
• 2003-05-26 Sold (MLS) $12,500 UNYREIS
• 2003-05-14 Sold (Public Records) $12,500 Public Records
• 2003-03-17 Listed $21,000 UNYREIS

Property tax history

-4.2%/yr

Latest (2025): $932 · +4.8% YoY. Source: county tax records.