142 Ruggles St · Dunkirk, NY 14048

$95,000

6 bd · 2.0 ba · 1,952 sqft · MultiFamily public records · 22 Days on market

Built 1903 10,000 sqft lot $49/sqft · 33% below area Est $141k · 33% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.5/10.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks MLS

This two-family residence has long term tenants who pay all utilities except trash pickup; new roof recently installed.

Key facts

• Separate utilities
• Recently remodeled
• Two family property

Tags

• TWO FAMILY PROPERTY
• RECENTLY REMODELED
• SEPARATE UTILITIES
• LAUNDRY HOOKUPS
• STRONG RENTAL HISTORY
• MOVE IN READY

Property features AI

Finance

• Financial info: Two-unit building with separate gas and electric meters for each unit; Tenant(s) pay all utilities; Operating expenses include maintenance (structure and general) and professional management

Exterior

• Parking: No driveway; parking available
• Utilities: Public water connected; Sewer connected
• Home design: Two-story multi-family property; Existing (resale) condition
• Construction: Wood siding construction
• Exterior features: Rectangular residential lot with 100 x 100 dimensions; City street frontage

Interior

• Kitchen: Dining area with kitchen (Unit 1); Eat-in kitchen (Unit 2)
• Bedrooms: Two separate 3-bedroom units
• Flooring: Carpet; Hardwood; Laminate; Luxury vinyl; Varies
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas heating; Forced air; Radiator heating
• Interior features: Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $95k.

Deal economics

• At list price, monthly cash flow is $862 ($10k/yr) — positive. Per door: $431/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.2% vs local median 7.4% in Dunkirk — 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 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: 71 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 $5k of equity ($657 loan paydown + $5k 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 $27k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 10y 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 $75k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $93,575 (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 1903 — 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. 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: 2.06% ✓
• Cap rate: 17.18%
• Cash-on-cash: 38.87%
• DSCR: 2.73
• GRM: 4.0

CMA / ARV

• ARV (median comp): $140,992
• List price: $95,000
• Delta: -32.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
77 E 7th St	0.33mi	5/3.0 (-1)	2,230 (+14%)	21mo	$130,000	$58	34

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: 47.2%
• Equity multiple: 3.87×
• Total profit: $76,444
• Equity at exit: $53,436

10-year hold

• IRR: 45.1%
• Equity multiple: 7.91×
• Total profit: $183,937
• Equity at exit: $91,896

Cash invested: $26,600 (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 14048

• Home prices YoY: 1.5%
• Active inventory: 71
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,960 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$149 /mo · $1,789/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $862

Break-even live

Break-even rent $869

Max offer price $95,000

Occupancy floor 51%

Sensitivity live

Price	-10% $915	-5% $888	+0% $862	+5% $835	+10% $808
Rent	-10% $707	-5% $784	+0% $862	+5% $939	+10% $1,016
Rate	-1.0pp $909	-0.5pp $886	base $862	+0.5pp $837	+1.0pp $812

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$1,960
Total (2 units)			$1,960

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-05-05
   listed $95,000 Active 425-char remark
2. 2025-08-26
   status Active
3. 2025-08-12
   status Pending
4. 2025-07-17
   price $97,500
5. 2025-06-01
   price $101,500
6. 2025-02-05
   price $105,000
7. 2024-12-22
   listed $109,999 Active
8. 2022-11-03
   soldstatus $75,000
9. 2022-10-25
   soldstatus $75,000 Closed Sale or Rented

   Show marketing remark (119 chars)

   This two-family residence has long term tenants who pay all utilities except trash pickup; new roof recently installed.

10. 2022-09-02
    status Under Contract- Do Not Show

    Show marketing remark (119 chars)

    This two-family residence has long term tenants who pay all utilities except trash pickup; new roof recently installed.

11. 2022-08-19
    historical Continue to Show- Under Contract

    Show marketing remark (119 chars)

    This two-family residence has long term tenants who pay all utilities except trash pickup; new roof recently installed.

12. 2022-07-25
    price $74,900

    Show marketing remark (119 chars)

    This two-family residence has long term tenants who pay all utilities except trash pickup; new roof recently installed.

13. 2022-06-22
    price $79,900

    Show marketing remark (119 chars)

    This two-family residence has long term tenants who pay all utilities except trash pickup; new roof recently installed.

14. 2022-04-28
    listed $85,000 Active

    Show marketing remark (119 chars)

    This two-family residence has long term tenants who pay all utilities except trash pickup; new roof recently installed.

15. 2021-06-18
    historical
16. 2021-05-05
    listed $79,900 Active
17. 2016-07-18
    soldstatus $17,500
18. 2016-07-18
    soldstatus $17,500
19. 2016-05-20
    listed $17,500
20. 2016-05-19
    listed $17,500
21. 1996-08-22
    soldstatus $50,000

ⓘ 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: $1,789 · $149/mo
• Projected year-2 tax: $1,789 · $149/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 FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 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: $23,520
• − Mortgage interest: −$5,321
• − Property taxes: −$1,789
• − Insurance: −$475
• − Repairs & maintenance: −$1,882
• − Management: −$1,882
• − Depreciation: −$2,764
• Taxable income: $9,408
• Est. tax owed @ 24.0%: −$2,258
• After-tax cash flow: $8,081/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

+90.0% since first listed

22 events — show timeline

• 2026-05-27 Pending — UNYREIS
• 2026-05-05 Listed $95,000 UNYREIS
• 2025-08-26 Relisted — UNYREIS
• 2025-08-12 Pending — UNYREIS
• 2025-07-17 Price Changed $97,500 UNYREIS
• 2025-06-01 Price Changed $101,500 UNYREIS
• 2025-02-05 Price Changed $105,000 UNYREIS
• 2024-12-22 Listed $109,999 UNYREIS
• 2022-11-03 Sold (Public Records) $75,000 Public Records
• 2022-10-25 Sold (MLS) $75,000 UNYREIS
• 2022-09-02 Pending — UNYREIS
• 2022-08-19 Contingent — UNYREIS
• 2022-07-25 Price Changed $74,900 UNYREIS
• 2022-06-22 Price Changed $79,900 UNYREIS
• 2022-04-28 Listed $85,000 UNYREIS
• 2021-06-18 Listing Removed — UNYREIS
• 2021-05-05 Listed $79,900 UNYREIS
• 2016-07-18 Sold (MLS) $17,500 UNYREIS
• 2016-07-18 Sold (MLS) $17,500 WNYREIS
• 2016-05-20 Listed $17,500 UNYREIS
• 2016-05-19 Listed $17,500 WNYREIS
• 1996-08-22 Sold (Public Records) $50,000 Public Records

Property tax history

-0.6%/yr

Latest (2025): $1,789 · +3.3% YoY. Source: county tax records.