5 Pearl St · Forestville, NY 14062

$76,500

4 bd · 3.0 ba · 2,574 sqft · MultiFamily public records · 16 Days on market

Built 1890 0.55 ac lot

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Why this score? — see what drove the B+ 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +7.4/10.0
• Schools +4.8/10.0
• Livability +3.0/5.0
• 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: 3 units. confirmed

Listing remarks

Here is a 3 unit multi-family home in the heart of the Hamlet of Forestville! This is your chance at a great entrepreneurial possibility with a property you can live in while collecting 2 additional rents to pay your mortgage and taxes! Alternatively, rent out all 3 units for extra income potential. Speaking of the potential here, this property is not perfect as it does need some TLC and upgrading to realize a higher rental income, however, all 3 units are currently occupied and all tenants will require a 90 day term to vacate if necessary. There is a newer asphalt shingle roof on the home and vinyl siding as well as some thermal pane windows. This property also has a very large yard and pa

Key facts

• Parking area
• Large yard
• Vinyl siding

Tags

• MULTI-FAMILY HOME
• NEWER ASPHALT SHINGLE ROOF
• VINYL SIDING
• THERMAL PANE WINDOWS
• LARGE YARD
• PARKING AREA

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/3.0-bath units multifamily listed at $76k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $614/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $76k).
• Recommended offer: $75k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#982 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: employment D, crime F, amenities F.
• Forestville Central School District (rural): math 55% / reading 53% proficiency, ranked #380 of 755 in NY (top 50%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 18 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 $4k of equity ($529 loan paydown + $4k 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 $21k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,352 (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 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
8. 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.
9. 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.
10. 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: 4.16% ✓
• Cap rate: 35.19%
• Cash-on-cash: 103.19%
• DSCR: 5.59
• GRM: 2.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.9% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.29×
• Total profit: $134,642
• Equity at exit: $42,883

10-year hold

• IRR: —
• Equity multiple: 15.29×
• Total profit: $306,089
• Equity at exit: $73,625

Cash invested: $21,420 (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 14062

• Home prices YoY: 1.5%
• Active inventory: 18
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $3,186 medium
• Mortgage (P&I): −$401
• Tax from tax record: −$242 /mo · $2,904/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$669
• Net cashflow: $1,842

Break-even live

Break-even rent $854

Max offer price $76,500

Occupancy floor 37%

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	3	$3,186
Total (3 units)			$3,186

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: $19,125
• Closing costs: $2,295
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-01-22
   status Pending
2. 2026-01-06
   listed $76,500 Active
3. 2013-03-05
   soldstatus $60,000
4. 2001-02-28
   soldstatus $40,000

ⓘ 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: $2,904 · $242/mo
• Projected year-2 tax: $2,904 · $242/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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,232
• − Mortgage interest: −$4,285
• − Property taxes: −$2,904
• − Insurance: −$382
• − Repairs & maintenance: −$3,059
• − Management: −$3,059
• − Depreciation: −$2,225
• Taxable income: $22,318
• Est. tax owed @ 24.0%: −$5,356
• After-tax cash flow: $16,747/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: Forestville Central School District
• NCES district ID: 3611250
• Math proficiency: 55% ▼ -6.00%
• Reading proficiency: 53% ▼ -10.00%
• Median HH income: $50,335
• Composite: 47.99/100
• National rank: #4800
• State rank: #380 of 755 in NY

Livability — Forestville

• Score: 60/100
• State rank: #982
• US rank: #19170

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Forestville, NY
• Population (ZIP): 3,220

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 (93%)
• Race & ethnicity: White 93% Two or more races 6% Hispanic / Latino 2% Asian 1%
• Common ancestry: Romanian 15% Iranian 3% Serbian 3%
• Foreign-born: 3% · Canada, Dominican Republic, China
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1% 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: ▲ 4.90%
• Current HPI: 322.5177
• 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

+91.2% since first listed

4 events — show timeline

• 2026-01-22 Pending — UNYREIS
• 2026-01-06 Listed $76,500 UNYREIS
• 2013-03-05 Sold (Public Records) $60,000 Public Records
• 2001-02-28 Sold (Public Records) $40,000 Public Records

Property tax history

-3.0%/yr

Latest (2025): $2,904 · +2.0% YoY. Source: county tax records.