35 Genet St · Dunkirk, NY 14048

$105,000

6 bd · 2.0 ba · 3,036 sqft · MultiFamily public records · 47 Days on market

Built 1900 7,313 sqft lot $35/sqft · 33% below area Est $156k · 33% under ↓ 16% since listing

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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: 3 units. confirmed

Listing remarks

History galore! This 2- 3 unit home once served as a small grocery store for the neighborhood! And look at the photo of the iconic 'Dunkirk Ice Cream' sign from back in the day when the storefront sold ice cream made in Dunkirk! The house has space, use it as a 2 unit or split up the upstairs into 2 smaller units, there are 2 full bathrooms on the 2nd floor, a full kitchen and a partial kitchen with separate doorways that open up into the front part of the 2nd floor and another door opening up to the back part so it would not be hard to separate the 2nd floor into 2 apartments. There are 2 furnaces and 2 circuit breaker panels but the house has one meter for electric and one for gas curren

Key facts

• 2 full bathrooms
• Full kitchen
• 2 car garage

Tags

• 2 FULL BATHROOMS
• FULL KITCHEN
• CORNER LOT
• 2 CAR GARAGE
• 1 SHORT BLOCK FROM THE LAKE

Property features AI

Finance

• Other: Owner pays all utilities
• Financial info: Property configured as 2 units; Separate single gas meter and single electric meter for the property; Operating expenses include insurance, structure maintenance, utilities, and water/sewer; Rent currently listed as 0 in the provided fields

Exterior

• Parking: Detached garage with 2 spaces; Garage parking and two or more spaces available
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Existing/resale property; Composite siding
• Construction: Composite siding construction; 2 stories
• Exterior features: Corner, rectangular residential lot; 65 x 112 lot dimensions; City street frontage

Interior

• Kitchen: Oven/range; Refrigerator; Eat-in kitchen (in one unit); Formal dining room (in the other unit)
• Bedrooms: One unit with 3 bedrooms; One unit with 2 bedrooms
• Flooring: Carpet; Vinyl; Varies
• Bathrooms: Unit 1: 2 full bathrooms; Unit 2: 1 full bathroom; Total on property: 3 full bathrooms
• Heating & cooling: Gas heating; Hot water heating; Multiple heating units; Wall furnace
• Interior features: Partial basement; Gas water heater
• Laundry & utility: Owner pays all utilities

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/?-bath units multifamily listed at $105k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $578/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $105k).
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.
• Cap rate 26.9% 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 $6k of equity ($726 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 $29k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, 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 47 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $7k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,850 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 3.09% ✓
• Cap rate: 26.88%
• Cash-on-cash: 73.53%
• DSCR: 4.27
• GRM: 2.7

CMA / ARV

• ARV (median comp): $155,957
• List price: $105,000
• Delta: -32.67%
• 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
245 Lake Shore Dr E	0.15mi	6/2.5	2,982 (-2%)	3mo	$100,000	$34	86

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: 77.2%
• Equity multiple: 5.57×
• Total profit: $134,394
• Equity at exit: $59,061

10-year hold

• IRR: 75.2%
• Equity multiple: 11.58×
• Total profit: $311,171
• Equity at exit: $101,569

Cash invested: $29,400 (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 14048

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

Monthly cashflow live

• Estimated rent: $3,241 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$165 /mo · $1,976/yr
• Insurance: −$44
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$681
• Net cashflow: $1,735

Break-even live

Break-even rent $1,045

Max offer price $105,000

Occupancy floor 41%

Sensitivity live

Price	-10% $1,794	-5% $1,765	+0% $1,735	+5% $1,705	+10% $1,675
Rent	-10% $1,479	-5% $1,607	+0% $1,735	+5% $1,863	+10% $1,991
Rate	-1.0pp $1,788	-0.5pp $1,762	base $1,735	+0.5pp $1,708	+1.0pp $1,680

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	—	$3,240
Total (3 units)			$3,241

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $105,000 Active 47 DOM
2. 2026-06-18
   days on market $105,000 Active 45 DOM
3. 2026-06-17
   days on market $105,000 Active 44 DOM
4. 2026-06-16
   days on market $105,000 Active 43 DOM
5. 2026-06-15
   days on market $105,000 Active 42 DOM
6. 2026-06-13
   days on market $105,000 Active 40 DOM
7. 2026-06-12
   days on market $105,000 Active 39 DOM
8. 2026-06-09
   days on market $105,000 Active 36 DOM
9. 2026-06-08
   days on market $105,000 Active 35 DOM
10. 2026-06-07
    days on market $105,000 Active 34 DOM
11. 2026-06-07
    days on market $105,000 Active 33 DOM
12. 2026-06-04
    days on market $105,000 Active 30 DOM
13. 2026-06-02
    days on market $105,000 Active 29 DOM
14. 2026-06-01
    days on market $105,000 Active 28 DOM
15. 2026-05-31
    days on market $105,000 Active 27 DOM
16. 2026-05-04
    listed $112,000 Active 1318-char remark
17. 2026-04-28
    historical
18. 2026-03-24
    listed $124,900 Active

ⓘ 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: $1,976 · $165/mo
• Projected year-2 tax: $1,976 · $165/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 8/10 Severe FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $38,892
• − Mortgage interest: −$5,882
• − Property taxes: −$1,976
• − Insurance: −$1,322
• − Repairs & maintenance: −$3,111
• − Management: −$3,111
• − Depreciation: −$3,055
• Taxable income: $20,435
• Est. tax owed @ 24.0%: −$4,904
• After-tax cash flow: $15,915/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

-15.9% since first listed

4 events — show timeline

• 2026-05-27 Price Changed $105,000 UNYREIS
• 2026-05-04 Listed $112,000 UNYREIS
• 2026-04-28 Listing Removed — UNYREIS
• 2026-03-24 Listed $124,900 UNYREIS

Property tax history

+5.8%/yr

Latest (2025): $1,976 · +3.3% YoY. Source: county tax records.