141 Prospect St · Fredonia, NY 14063

$169,900

4 bd · 2.0 ba · 2,058 sqft · SingleFamily public records · 31 Days on market

Built 1910 9,920 sqft lot Est $200k · 15% under

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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 +14.6/30.0
• ARV discount +14.2/15.0
• 1% rule +4.8/10.0
• DSCR +4.4/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully maintained two-family home, featuring two spacious three-bedroom apartments, each offering a comfortable and inviting living space. Situated in a quiet, desirable neighborhood, this property is an investor's dream, providing a seamless, income-producing opportunity. Mechanically in excellent condition. Both units are occupied by long-term tenants who are interested in staying, ensuring immediate and steady rental income. The home has been meticulously cared for and requires no additional work, making it truly move-in ready. Numerous updates throughout the property add to its appeal and functionality. Additionally, off-street parking provides convenience for tenants. This property is not currently student housing, which contributes to a stable tenant base. With its prime location, excellent condition, and consistent income, this two-family home is a standout investment opportunity. Don't miss out on this rare find – schedule your viewing today! Seller also has listed 65 Cleveland Ave and 18 Cleveland Ave - make a deal on all three!

Key facts

• Separate utilities
• Two-family home
• Central air

Tags

• TWO-FAMILY HOME
• IN-UNIT LAUNDRY HOOKUPS
• CENTRAL AIR
• SEPARATE UTILITIES
• OFF-STREET PARKING

Property features AI

Finance

• Other: Two total residential units; Each unit currently listing rent at $900; Operating expenses include water/sewer and professional management
• Financial info: Owner pays water; water included in rent; Professional management included in operating expenses (multi-unit); Two separate gas meters and two separate electric meters

Exterior

• Parking: Concrete parking with two or more spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Resale property; Vinyl siding
• Construction: Vinyl siding construction; Existing (previously built)
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 62 x 160

Interior

• Kitchen: Each unit features an eat-in kitchen
• Bedrooms: Two 3-bedroom units (each unit has 3 bedrooms)
• Flooring: Carpet; Laminate; Tile; Varied flooring
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Full basement
• Laundry & utility: Laundry in each unit; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $40 ($477/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 $166k (2.0% below list).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.6% vs local median 3.3% in Fredonia — 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 81/100 on livability (#95 in NY, #1,446 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, commute A; Watch: amenities C-, employment C-, crime F.
• Fredonia Central School District (town): math 55% / reading 46% proficiency, ranked #376 of 590 in NY (top 64%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Fredonia Elementary School (math 32% / reading 52%, grade F, #1,361 of 2,108 statewide, top 67%, 398 students, 49% FRL); Fredonia Middle School (math 48% / reading 41%, grade D, #348 of 729 statewide, top 50%, 426 students, 43% FRL); Fredonia High School (math 98% / reading 75%, grade A, #342 of 1,100 statewide, top 31%, 463 students, 38% FRL) — zoned schools average 43% FRL vs 28% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 92 active listings in the ZIP; 127 units permitted in Chautauqua County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y 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.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. 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?
6. 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.
7. 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.
8. 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: 0.98% ✗
• Cap rate: 6.57%
• Cash-on-cash: 1.00%
• DSCR: 1.04
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $199,626
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
100 Eagle St	0.32mi	5/2.0 (+1)	2,128 (+3%)	1mo	$95,000	$45	74
20 Lakeview Ave	0.23mi	3/1.5 (-1)	1,936 (-6%)	2mo	$244,900	$126	70
139 Eagle St	0.25mi	4/2.0	1,850 (-10%)	8mo	$105,000	$57	64
235 Eagle St	0.19mi	3/1.5 (-1)	1,904 (-8%)	9mo	$185,000	$97	64
35 Elm St	0.16mi	4/2.5	1,904 (-8%)	23mo	$305,000	$160	59
15 Gillis St	0.45mi	3/2.0 (-1)	2,088 (+2%)	21mo	$225,000	$108	54
49 Day St	0.74mi	4/2.5	2,090 (+2%)	9mo	$224,500	$107	54
36 Clinton Ave	0.59mi	3/2.0 (-1)	1,921 (-7%)	15mo	$125,000	$65	44
32 White St	0.64mi	4/1.5	2,350 (+14%)	11mo	$150,000	$64	35
42 Lambert Ave	0.68mi	3/2.0 (-1)	1,923 (-7%)	23mo	$115,000	$60	33

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: -14.6%
• Equity multiple: 0.48×
• Total profit: $-24,912
• Equity at exit: $25,333

10-year hold

• IRR: -5.9%
• Equity multiple: 0.62×
• Total profit: $-18,079
• Equity at exit: $14,690

Cash invested: $47,572 (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 14063

• Home prices YoY: -23.6%
• Active inventory: 92
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,664 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$313 /mo · $3,758/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $40

Break-even live

Break-even rent $1,614

Max offer price $169,900

Occupancy floor 93%

Sensitivity live

Price	-10% $136	-5% $88	+0% $40	+5% $-8	+10% $-56
Rent	-10% $-92	-5% $-26	+0% $40	+5% $105	+10% $171
Rate	-1.0pp $125	-0.5pp $83	base $40	+0.5pp $-4	+1.0pp $-49

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $169,900 Active 31 DOM
2. 2026-06-21
   days on market $169,900 Active 30 DOM
3. 2026-06-18
   days on market $169,900 Active 28 DOM
4. 2026-06-17
   days on market $169,900 Active 27 DOM
5. 2026-06-16
   days on market $169,900 Active 26 DOM
6. 2026-06-15
   days on market $169,900 Active 25 DOM
7. 2026-06-13
   days on market $169,900 Active 23 DOM
8. 2026-06-12
   days on market $169,900 Active 22 DOM
9. 2026-06-09
   days on market $169,900 Active 19 DOM
10. 2026-06-08
    days on market $169,900 Active 18 DOM
11. 2026-06-07
    days on market $169,900 Active 17 DOM
12. 2026-06-07
    days on market $169,900 Active 16 DOM
13. 2026-06-04
    days on market $169,900 Active 13 DOM
14. 2026-06-02
    days on market $169,900 Active 12 DOM
15. 2026-06-01
    days on market $169,900 Active 11 DOM
16. 2026-05-31
    days on market $169,900 Active 10 DOM
17. 2026-05-21
    listed $169,900 Active
18. 2024-09-09
    soldstatus $151,000 Closed 1080-char remark

    Show marketing remark (1080 chars)

    Welcome to this beautifully maintained two-family home, featuring two spacious three-bedroom apartments, each offering a comfortable and inviting living space. Situated in a quiet, desirable neighborhood, this property is an investor's dream, providing a seamless, income-producing opportunity. Mechanically in excellent condition. Both units are occupied by long-term tenants who are interested in staying, ensuring immediate and steady rental income. The home has been meticulously cared for and requires no additional work, making it truly move-in ready. Numerous updates throughout the property add to its appeal and functionality. Additionally, off-street parking provides convenience for tenants. This property is not currently student housing, which contributes to a stable tenant base. With its prime location, excellent condition, and consistent income, this two-family home is a standout investment opportunity. Don't miss out on this rare find – schedule your viewing today! Seller also has listed 65 Cleveland Ave and 18 Cleveland Ave - make a deal on all three!

19. 2024-07-11
    status Pending 1080-char remark

    Show marketing remark (1080 chars)

    Welcome to this beautifully maintained two-family home, featuring two spacious three-bedroom apartments, each offering a comfortable and inviting living space. Situated in a quiet, desirable neighborhood, this property is an investor's dream, providing a seamless, income-producing opportunity. Mechanically in excellent condition. Both units are occupied by long-term tenants who are interested in staying, ensuring immediate and steady rental income. The home has been meticulously cared for and requires no additional work, making it truly move-in ready. Numerous updates throughout the property add to its appeal and functionality. Additionally, off-street parking provides convenience for tenants. This property is not currently student housing, which contributes to a stable tenant base. With its prime location, excellent condition, and consistent income, this two-family home is a standout investment opportunity. Don't miss out on this rare find – schedule your viewing today! Seller also has listed 65 Cleveland Ave and 18 Cleveland Ave - make a deal on all three!

20. 2024-06-17
    historical Active Under Contract 1080-char remark

    Show marketing remark (1080 chars)

    Welcome to this beautifully maintained two-family home, featuring two spacious three-bedroom apartments, each offering a comfortable and inviting living space. Situated in a quiet, desirable neighborhood, this property is an investor's dream, providing a seamless, income-producing opportunity. Mechanically in excellent condition. Both units are occupied by long-term tenants who are interested in staying, ensuring immediate and steady rental income. The home has been meticulously cared for and requires no additional work, making it truly move-in ready. Numerous updates throughout the property add to its appeal and functionality. Additionally, off-street parking provides convenience for tenants. This property is not currently student housing, which contributes to a stable tenant base. With its prime location, excellent condition, and consistent income, this two-family home is a standout investment opportunity. Don't miss out on this rare find – schedule your viewing today! Seller also has listed 65 Cleveland Ave and 18 Cleveland Ave - make a deal on all three!

21. 2024-06-07
    listed $159,000 Active 1080-char remark

    Show marketing remark (1080 chars)

    Welcome to this beautifully maintained two-family home, featuring two spacious three-bedroom apartments, each offering a comfortable and inviting living space. Situated in a quiet, desirable neighborhood, this property is an investor's dream, providing a seamless, income-producing opportunity. Mechanically in excellent condition. Both units are occupied by long-term tenants who are interested in staying, ensuring immediate and steady rental income. The home has been meticulously cared for and requires no additional work, making it truly move-in ready. Numerous updates throughout the property add to its appeal and functionality. Additionally, off-street parking provides convenience for tenants. This property is not currently student housing, which contributes to a stable tenant base. With its prime location, excellent condition, and consistent income, this two-family home is a standout investment opportunity. Don't miss out on this rare find – schedule your viewing today! Seller also has listed 65 Cleveland Ave and 18 Cleveland Ave - make a deal on all three!

22. 2006-08-11
    listed $79,500
23. 2001-08-03
    soldstatus $52,900
24. 1995-10-30
    soldstatus $40,000
25. 1992-01-31
    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: $3,758 · $313/mo
• Projected year-2 tax: $3,758 · $313/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 ≥93°F today · 16 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: $19,970
• − Mortgage interest: −$9,517
• − Property taxes: −$3,758
• − Insurance: −$850
• − Repairs & maintenance: −$1,598
• − Management: −$1,598
• − Depreciation: −$4,943
• Taxable loss: −$2,292
• Est. tax savings @ 24.0%: +$550
• After-tax cash flow: $1,027/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: Fredonia Central School District
• NCES district ID: 3611520
• Math proficiency: 55% ▼ -8.00%
• Reading proficiency: 46% ▼ -8.00%
• Median HH income: $48,491
• Composite: 43.1/100
• National rank: #3086
• State rank: #376 of 590 in NY

Livability — Fredonia

• Score: 81/100
• State rank: #95
• US rank: #1446

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fredonia, NY
• Population (ZIP): 12,722

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 (83%)
• Race & ethnicity: White 83% Hispanic / Latino 8% Two or more races 5% Black 3% Asian 2%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 14% Italian 3% Iranian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Chinese 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: ▼ -78.55%
• Current HPI: 253.5334
• 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

+239.8% since first listed

9 events — show timeline

• 2026-05-21 Listed $169,900 UNYREIS
• 2024-09-09 Sold (MLS) $151,000 UNYREIS
• 2024-07-11 Pending — UNYREIS
• 2024-06-17 Contingent — UNYREIS
• 2024-06-07 Listed $159,000 UNYREIS
• 2006-08-11 Listed $79,500 UNYREIS
• 2001-08-03 Sold (Public Records) $52,900 Public Records
• 1995-10-30 Sold (Public Records) $40,000 Public Records
• 1992-01-31 Sold (Public Records) $50,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $3,758 · +11.2% YoY. Source: county tax records.