51 Bowen St · Jamestown, NY 14701

$35,000

4 bd · 2.0 ba · 1,469 sqft · MultiFamily public records · 105 Days on market

Built 1900 3,635 sqft lot $24/sqft · 72% below area

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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: 2 units. confirmed

Listing remarks MLS

Investment Opportunity! This two-family property offers great potential for investors or flippers. Each unit features 1 bedroom, 1 full bathroom, a kitchen, living / dining room combo. The home offers a driveway with 1 car driveway and approximately 1,469 sq ft of living space. With the right updates and improvements, this property presents a strong fix-and-flip or repair-and-rent opportunity. Don’t miss the chance to add value and generate income with this multi-family investment property. Can be sold as a packaged deal with 101 Bush St Jamestown NY, 20 Charles St Jamestown NY, 52 Liberty St Jamestown NY and 33 Linwood Ave, Jamestown, NY.

Key facts

• 3,635 sq ft lot
• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1.0-bath units multifamily listed at $35k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $530/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $35k).
• Recommended offer: $32k (9.0% below list) — sets the bar for market timing.
• Cap rate 42.6% 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 42% 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 $242 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y ago; this cycle's ask has dropped $4k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $31,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% 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 1900 — 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. 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?
10. 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.
11. 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.
12. 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: 4.96% ✓
• Cap rate: 42.61%
• Cash-on-cash: 129.69%
• DSCR: 6.77
• GRM: 1.7

CMA / ARV

• ARV (median comp): $123,407
• List price: $35,000
• Delta: -68.40%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
423 Lincoln St	0.21mi	3/2.0 (-1)	1,661 (+13%)	5mo	$53,000	$32	59
149 Thayer St	0.24mi	3/2.0 (-1)	1,584 (+8%)	14mo	$85,000	$54	59
217 Fulton St	0.37mi	4/3.0	1,332 (-9%)	23mo	$65,000	$49	44
566 Allen St	0.43mi	4/2.0	1,672 (+14%)	23mo	$88,000	$53	38

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: 7.31×
• Total profit: $61,853
• Equity at exit: $5,219

10-year hold

• IRR: —
• Equity multiple: 15.39×
• Total profit: $141,001
• Equity at exit: $3,026

Cash invested: $9,800 (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: 3.4×

Monthly cashflow live

• Estimated rent: $1,736 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$114 /mo · $1,371/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $1,059

Break-even live

Break-even rent $395

Max offer price $35,000

Occupancy floor 34%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,736
Total (2 units)			$1,736

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: $8,750
• Closing costs: $1,050
• 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	43d	1	1.06mi

Listing history 27 events

1. 2026-06-19
   days on market $35,000 Active 105 DOM
2. 2026-06-18
   price $35,000 Active 104 DOM
3. 2026-06-18
   days on market $39,000 Active 104 DOM
4. 2026-06-17
   days on market $39,000 Active 103 DOM
5. 2026-06-16
   days on market $39,000 Active 102 DOM
6. 2026-06-15
   days on market $39,000 Active 101 DOM
7. 2026-06-14
   days on market $39,000 Active 99 DOM
8. 2026-06-12
   days on market $39,000 Active 98 DOM
9. 2026-06-09
   days on market $39,000 Active 95 DOM
10. 2026-06-08
    days on market $39,000 Active 94 DOM
11. 2026-06-07
    days on market $39,000 Active 93 DOM
12. 2026-06-05
    days on market $39,000 Active 90 DOM
13. 2026-06-02
    days on market $39,000 Active 88 DOM
14. 2026-06-01
    days on market $39,000 Active 87 DOM
15. 2026-05-31
    days on market $39,000 Active 86 DOM
16. 2026-05-30
    days on market $39,000 Active 85 DOM
17. 2026-03-06
    listed $39,000 Active 653-char remark

    Show marketing remark (653 chars)

    Investment Opportunity! This two-family property offers great potential for investors or flippers. Each unit features 1 bedroom, 1 full bathroom, a kitchen, living / dining room combo. The home offers a driveway with 1 car driveway and approximately 1,469 sq ft of living space. With the right updates and improvements, this property presents a strong fix-and-flip or repair-and-rent opportunity. Don’t miss the chance to add value and generate income with this multi-family investment property. Can be sold as a packaged deal with 101 Bush St Jamestown NY, 20 Charles St Jamestown NY, 52 Liberty St Jamestown NY and 33 Linwood Ave, Jamestown, NY.

18. 2024-09-01
    historical
19. 2024-07-23
    price $38,900
20. 2024-03-12
    listed $39,900 Active
21. 2022-06-27
    soldstatus $34,900 Closed Sale or Rented
22. 2022-06-24
    soldstatus $34,900
23. 2022-03-24
    status Under Contract- Do Not Show
24. 2022-03-24
    listed $34,900 Active
25. 2002-09-04
    soldstatus $22,000
26. 2002-08-30
    soldstatus $39,000
27. 2002-06-06
    listed $29,000

ⓘ 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: $1,371 · $114/mo
• Projected year-2 tax: $1,371 · $114/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 ≥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: $20,832
• − Mortgage interest: −$1,961
• − Property taxes: −$1,371
• − Insurance: −$175
• − Repairs & maintenance: −$1,667
• − Management: −$1,667
• − Depreciation: −$1,018
• Taxable income: $12,975
• Est. tax owed @ 24.0%: −$3,114
• After-tax cash flow: $9,595/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

+34.5% since first listed

11 events — show timeline

• 2026-03-06 Listed $39,000 WNYREIS
• 2024-09-01 Listing Removed — UNYREIS
• 2024-07-23 Price Changed $38,900 UNYREIS
• 2024-03-12 Listed $39,900 UNYREIS
• 2022-06-27 Sold (MLS) $34,900 UNYREIS
• 2022-06-24 Sold (Public Records) $34,900 Public Records
• 2022-03-24 Pending — UNYREIS
• 2022-03-24 Listed $34,900 UNYREIS
• 2002-09-04 Sold (MLS) $22,000 UNYREIS
• 2002-08-30 Sold (Public Records) $39,000 Public Records
• 2002-06-06 Listed $29,000 UNYREIS

Property tax history

-4.3%/yr

Latest (2025): $1,371 · +4.8% YoY. Source: county tax records.