83 W 2nd St · Dunkirk, NY 14048

$128,500

4 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 213 Days on market

Built 1873 3,000 sqft lot $109/sqft · at area comps Est $123k · at est.

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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 +20.0/30.0
• Appreciation +7.5/10.0
• DSCR +6.3/10.0
• ARV discount +5.3/15.0
• 1% rule +4.3/10.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

You're a short one block walk to Memorial Park and Lake Erie from this 3-4 bedroom/1 bath move in ready home. This newly roofed home sits on a nice city corner lot with off street parking. The interior is fresly painted with new flooring throughout. The first floor features an eat in kitchen, living room, bathroom and one bedroom. There's also an additional room that could be used for an office or another bedroom if needed. The second floor has the other two bedrooms. The mechanicals are all in decent shape so there's really nothing to do except move in.

Key facts

• Fresly painted
• Lake erie
• Off street parking

Tags

• LAKE ERIE
• CITY CORNER LOT
• OFF STREET PARKING
• EAT IN KITCHEN
• NEWLY ROOFED
• FRESLY PAINTED

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $158 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (7.2% below list).
• Recommended offer: $113k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#426 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities F, commute F.
• Dunkirk City School District (town): math 30% / reading 34% proficiency, ranked #575 of 590 in NY (top 98%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 70 active listings in the ZIP; 127 units permitted in Chautauqua County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($888 loan paydown + $6k appreciation (4.9% local appreciation)).
• Chautauqua County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.9% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 213 days — a 12% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y ago; this cycle's ask has dropped $26k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $7k; list at $128k implies a 1804% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1873 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,080 (12.0% below list)

Questions for the listing agent

1. It's been on market 213 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1873 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 7.76%
• Cash-on-cash: 5.25%
• DSCR: 1.23
• GRM: 9.0

CMA / ARV

• ARV (median comp): $122,545
• List price: $128,500
• Delta: 4.86%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
72 W 5th St	0.31mi	3/1.0 (-1)	1,184 (+1%)	10mo	$70,000	$59	71
184 W 2nd St	0.30mi	3/1.0 (-1)	1,160 (-1%)	10mo	$105,000	$91	70
320 Temple St	0.29mi	3/1.0 (-1)	1,250 (+6%)	2mo	$158,894	$127	70
208 Brigham Rd	0.30mi	3/1.0 (-1)	1,122 (-5%)	5mo	$93,000	$83	70
305 Canary St	0.12mi	3/1.0 (-1)	1,078 (-8%)	9mo	$115,000	$107	69
142 Lake Shore Dr W	0.25mi	3/1.0 (-1)	1,067 (-9%)	8mo	$112,500	$105	62
222 Brigham Rd	0.31mi	3/1.0 (-1)	1,287 (+9%)	10mo	$150,100	$117	57
188 Brooks Ave	0.33mi	3/2.5 (-1)	1,152 (-2%)	18mo	$142,900	$124	55
53 W 5th St	0.34mi	3/1.0 (-1)	1,284 (+9%)	11mo	$100,000	$78	55
426 Mullet St	0.36mi	3/1.5 (-1)	1,015 (-14%)	4mo	$138,146	$136	50
37 Point Dr N	0.58mi	3/1.0 (-1)	1,188 (+1%)	23mo	$99,000	$83	47
165 Lake Shore Dr E	0.74mi	3/1.0 (-1)	1,233 (+5%)	19mo	$95,000	$77	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.2%
• Equity multiple: 2.09×
• Total profit: $39,100
• Equity at exit: $72,280

10-year hold

• IRR: 17.4%
• Equity multiple: 4.05×
• Total profit: $109,703
• Equity at exit: $124,301

Cash invested: $35,980 (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 14048

• Home prices YoY: 1.5%
• Active inventory: 70
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,193 medium
• Mortgage (P&I): −$674
• Tax from tax record: −$57 /mo · $686/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $158

Break-even live

Break-even rent $993

Max offer price $128,500

Occupancy floor 82%

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: $32,125
• Closing costs: $3,855
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $128,500 Active 213 DOM
2. 2026-06-17
   days on market $128,500 Active 212 DOM
3. 2026-06-16
   days on market $128,500 Active 211 DOM
4. 2026-06-15
   days on market $128,500 Active 210 DOM
5. 2026-06-13
   days on market $128,500 Active 208 DOM
6. 2026-06-12
   days on market $128,500 Active 207 DOM
7. 2026-06-09
   days on market $128,500 Active 204 DOM
8. 2026-06-08
   days on market $128,500 Active 203 DOM
9. 2026-06-07
   days on market $128,500 Active 202 DOM
10. 2026-06-07
    days on market $128,500 Active 201 DOM
11. 2026-06-04
    days on market $128,500 Active 198 DOM
12. 2026-06-02
    days on market $128,500 Active 197 DOM
13. 2026-06-01
    days on market $128,500 Active 196 DOM
14. 2026-05-31
    days on market $128,500 Active 195 DOM
15. 2026-05-19
    price $128,500 560-char remark

    Show marketing remark (560 chars)

    You're a short one block walk to Memorial Park and Lake Erie from this 3-4 bedroom/1 bath move in ready home. This newly roofed home sits on a nice city corner lot with off street parking. The interior is fresly painted with new flooring throughout. The first floor features an eat in kitchen, living room, bathroom and one bedroom. There's also an additional room that could be used for an office or another bedroom if needed. The second floor has the other two bedrooms. The mechanicals are all in decent shape so there's really nothing to do except move in.

16. 2026-03-18
    price $134,900 560-char remark

    Show marketing remark (560 chars)

    You're a short one block walk to Memorial Park and Lake Erie from this 3-4 bedroom/1 bath move in ready home. This newly roofed home sits on a nice city corner lot with off street parking. The interior is fresly painted with new flooring throughout. The first floor features an eat in kitchen, living room, bathroom and one bedroom. There's also an additional room that could be used for an office or another bedroom if needed. The second floor has the other two bedrooms. The mechanicals are all in decent shape so there's really nothing to do except move in.

17. 2026-01-08
    price $144,900 560-char remark

    Show marketing remark (560 chars)

    You're a short one block walk to Memorial Park and Lake Erie from this 3-4 bedroom/1 bath move in ready home. This newly roofed home sits on a nice city corner lot with off street parking. The interior is fresly painted with new flooring throughout. The first floor features an eat in kitchen, living room, bathroom and one bedroom. There's also an additional room that could be used for an office or another bedroom if needed. The second floor has the other two bedrooms. The mechanicals are all in decent shape so there's really nothing to do except move in.

18. 2025-11-17
    listed $154,900 Active 560-char remark

    Show marketing remark (560 chars)

    You're a short one block walk to Memorial Park and Lake Erie from this 3-4 bedroom/1 bath move in ready home. This newly roofed home sits on a nice city corner lot with off street parking. The interior is fresly painted with new flooring throughout. The first floor features an eat in kitchen, living room, bathroom and one bedroom. There's also an additional room that could be used for an office or another bedroom if needed. The second floor has the other two bedrooms. The mechanicals are all in decent shape so there's really nothing to do except move in.

19. 2009-03-13
    soldstatus $6,750 100-char remark

    Show marketing remark (100 chars)

    Cozy 3 bedroom, 1 full bath home in need of some repairs and updates, truely a diamond in the rough.

20. 2008-09-09
    listed $8,900 100-char remark

    Show marketing remark (100 chars)

    Cozy 3 bedroom, 1 full bath home in need of some repairs and updates, truely a diamond in the rough.

21. 2007-05-07
    listed $49,900
22. 2005-09-14
    soldstatus $18,000
23. 1998-12-28
    soldstatus $10,000

ⓘ 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: $686 · $57/mo
• Projected year-2 tax: $1,429 · $119/mo
• Expected delta: +$743/yr (+$62/mo · 108.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,311
• − Mortgage interest: −$7,198
• − Property taxes: −$686
• − Insurance: −$642
• − Repairs & maintenance: −$1,145
• − Management: −$1,145
• − Depreciation: −$3,738
• Taxable loss: −$243
• Est. tax savings @ 24.0%: +$58
• After-tax cash flow: $1,949/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: Dunkirk City School District
• NCES district ID: 3609420
• Math proficiency: 30% ▼ -11.00%
• Reading proficiency: 34% ▬ 0.00%
• Median HH income: $36,345
• Composite: 26.55/100
• National rank: #7190
• State rank: #575 of 590 in NY

Livability — Dunkirk

• Score: 70/100
• State rank: #426
• US rank: #7421

Category grades

Amenities F Commute F Cost of living A+ Crime C+ Employment F Housing A+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dunkirk, NY
• City population: 14,949
• Population (ZIP): 14,949

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: Majority White (63%)
• Race & ethnicity: White 63% Hispanic / Latino 30% Two or more races 12% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 25% Dominican 1%
• Common ancestry: Romanian 20% Lithuanian 3% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 80% English-only · Spanish 18% Other Indo-European 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: ▲ 4.93%
• Current HPI: 325.9188
• Rent YoY: —
• Metro: —
• 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

+1185.0% since first listed

9 events — show timeline

• 2026-05-19 Price Changed $128,500 UNYREIS
• 2026-03-18 Price Changed $134,900 UNYREIS
• 2026-01-08 Price Changed $144,900 UNYREIS
• 2025-11-17 Listed $154,900 UNYREIS
• 2009-03-13 Sold (MLS) $6,750 UNYREIS
• 2008-09-09 Listed $8,900 UNYREIS
• 2007-05-07 Listed $49,900 UNYREIS
• 2005-09-14 Sold (Public Records) $18,000 Public Records
• 1998-12-28 Sold (Public Records) $10,000 Public Records

Property tax history

-0.6%/yr

Latest (2025): $686 · +3.3% YoY. Source: county tax records.