201 Forest Ave · Jamestown, NY 14701

$139,000

15 bd · 12.0 ba · 2,796 sqft · MultiFamily · 57 Days on market

Built 1900 9,224 sqft lot $50/sqft · 7% above area Est $130k · 7% over

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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 +4.2/15.0
• 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: 3 units. confirmed

Listing remarks MLS

Investors dream! Solid income producing property. Looking to start your investing career? You could live in upper unit and rent out the bottom 2! HUGE double lot, 3 car garage that can used by tenants and/or rented out as storage space. Easily, the biggest exterior feature is the large fenced in lot with plenty of space to utilize and enjoy with a gated privacy fence surrounding the entire lot. 3 units with long term tenants on a corner lot. Well maintained with many upgrades. Turn key ready! Tenants pay utilities. Minimal maintenance required. Centrally located in the city of Jamestown.

Key facts

• 9,224 sq ft lot
• 3 garage spots
• Built 1900

Property features AI

Finance

• Financial info: Operating expense details: see remarks; Owner pays: other / see remarks; Rent details: see remarks; Separate electric meters for each unit (3); single separate gas meter

Exterior

• Parking: 3-car garage; Additional gravel parking; two or more parking spaces
• Utilities: Public water (connected); Sewer connected
• Home design: Multi-unit property with 3 total units; 2 stories
• Construction: Vinyl siding; Spray foam insulation; Existing construction
• Exterior features: Corner, rectangular lot (71 x 129)

Interior

• Kitchen: Dishwasher; Oven/Range; Refrigerator; Dining area in one unit
• Bedrooms: One 1-bedroom unit; Two 2-bedroom units
• Flooring: Carpet; Laminate; Varies
• Bathrooms: Three full bathrooms and one half bathroom total (across units)
• Heating & cooling: Electric baseboard heating
• Interior features: Accessible approach with ramp; Full basement
• Laundry & utility: Laundry in unit (in some units); Washer and dryer included in at least one unit; Electric water heater

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/4.0-bath units multifamily listed at $139k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $722/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $139k).
• Recommended offer: $135k (3.0% below list) — sets the bar for market timing.
• Cap rate 25.0% 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; 127 units permitted in Chautauqua County in 2024 (0 in 5+ unit buildings).
• At $3,956/mo this rent would consume 96% of the median local household income ($50k/yr) (locally 1838% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k 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 $39k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 15y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $134,830 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 2.85% ✓
• Cap rate: 24.98%
• Cash-on-cash: 66.74%
• DSCR: 3.97
• GRM: 2.9

CMA / ARV

• ARV (median comp): $129,606
• List price: $139,000
• Delta: 7.25%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 66.0%
• Equity multiple: 3.97×
• Total profit: $115,403
• Equity at exit: $20,725

10-year hold

• IRR: 70.3%
• Equity multiple: 8.15×
• Total profit: $278,259
• Equity at exit: $12,018

Cash invested: $38,920 (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: 8.8×

Monthly cashflow live

• Estimated rent: $3,956 medium
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$831
• Net cashflow: $2,165

Break-even live

Break-even rent $1,216

Max offer price $139,000

Occupancy floor 40%

Sensitivity live

Price	-10% $2,261	-5% $2,213	+0% $2,165	+5% $2,117	+10% $2,069
Rent	-10% $1,852	-5% $2,008	+0% $2,165	+5% $2,321	+10% $2,477
Rate	-1.0pp $2,235	-0.5pp $2,200	base $2,165	+0.5pp $2,129	+1.0pp $2,092

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	4	$3,957
Total (3 units)			$3,956

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $139,000 Active 57 DOM
2. 2026-06-18
   days on market $139,000 Active 56 DOM
3. 2026-06-17
   days on market $139,000 Active 55 DOM
4. 2026-06-16
   days on market $139,000 Active 54 DOM
5. 2026-06-15
   days on market $139,000 Active 53 DOM
6. 2026-06-14
   days on market $139,000 Active 51 DOM
7. 2026-06-12
   days on market $139,000 Active 50 DOM
8. 2026-06-09
   days on market $139,000 Active 47 DOM
9. 2026-06-08
   days on market $139,000 Active 46 DOM
10. 2026-06-07
    days on market $139,000 Active 45 DOM
11. 2026-06-05
    days on market $139,000 Active 42 DOM
12. 2026-06-02
    days on market $139,000 Active 40 DOM
13. 2026-06-01
    days on market $139,000 Active 39 DOM
14. 2026-05-31
    days on market $139,000 Active 38 DOM
15. 2026-05-30
    days on market $139,000 Active 37 DOM
16. 2026-04-23
    listed $149,000 Active 1231-char remark
17. 2022-06-23
    soldstatus $129,900 Closed Sale or Rented 595-char remark

    Show marketing remark (595 chars)

    Investors dream! Solid income producing property. Looking to start your investing career? You could live in upper unit and rent out the bottom 2! HUGE double lot, 3 car garage that can used by tenants and/or rented out as storage space. Easily, the biggest exterior feature is the large fenced in lot with plenty of space to utilize and enjoy with a gated privacy fence surrounding the entire lot. 3 units with long term tenants on a corner lot. Well maintained with many upgrades. Turn key ready! Tenants pay utilities. Minimal maintenance required. Centrally located in the city of Jamestown.

18. 2022-04-18
    status Under Contract- Do Not Show 595-char remark

    Show marketing remark (595 chars)

    Investors dream! Solid income producing property. Looking to start your investing career? You could live in upper unit and rent out the bottom 2! HUGE double lot, 3 car garage that can used by tenants and/or rented out as storage space. Easily, the biggest exterior feature is the large fenced in lot with plenty of space to utilize and enjoy with a gated privacy fence surrounding the entire lot. 3 units with long term tenants on a corner lot. Well maintained with many upgrades. Turn key ready! Tenants pay utilities. Minimal maintenance required. Centrally located in the city of Jamestown.

19. 2022-04-04
    listed $129,900 Active 595-char remark

    Show marketing remark (595 chars)

    Investors dream! Solid income producing property. Looking to start your investing career? You could live in upper unit and rent out the bottom 2! HUGE double lot, 3 car garage that can used by tenants and/or rented out as storage space. Easily, the biggest exterior feature is the large fenced in lot with plenty of space to utilize and enjoy with a gated privacy fence surrounding the entire lot. 3 units with long term tenants on a corner lot. Well maintained with many upgrades. Turn key ready! Tenants pay utilities. Minimal maintenance required. Centrally located in the city of Jamestown.

20. 2021-06-14
    soldstatus $97,500 Closed Sale or Rented

    Show marketing remark (296 chars)

    This is an opportunity to own a three family property in great condition with a solid rental history and great income flow ($1,950/month) tenants pay own utilities. Newly renovated apartments with maintenance free exterior and a new roof. Three car garage and extra parking all on two large lots.

21. 2021-04-06
    status Under Contract- Do Not Show

    Show marketing remark (296 chars)

    This is an opportunity to own a three family property in great condition with a solid rental history and great income flow ($1,950/month) tenants pay own utilities. Newly renovated apartments with maintenance free exterior and a new roof. Three car garage and extra parking all on two large lots.

22. 2021-01-18
    historical Continue to Show- Under Contract

    Show marketing remark (296 chars)

    This is an opportunity to own a three family property in great condition with a solid rental history and great income flow ($1,950/month) tenants pay own utilities. Newly renovated apartments with maintenance free exterior and a new roof. Three car garage and extra parking all on two large lots.

23. 2021-01-12
    listed $99,500 Active

    Show marketing remark (296 chars)

    This is an opportunity to own a three family property in great condition with a solid rental history and great income flow ($1,950/month) tenants pay own utilities. Newly renovated apartments with maintenance free exterior and a new roof. Three car garage and extra parking all on two large lots.

24. 2014-02-18
    listed $79,000
25. 2012-07-02
    soldstatus $75,000
26. 2011-06-22
    listed $86,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $47,472
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$695
• − Repairs & maintenance: −$3,798
• − Management: −$3,798
• − Depreciation: −$4,044
• Taxable income: $25,267
• Est. tax owed @ 24.0%: −$6,064
• After-tax cash flow: $19,912/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

+60.0% since first listed

12 events — show timeline

• 2026-05-26 Price Changed $139,000 UNYREIS
• 2026-04-23 Listed $149,000 UNYREIS
• 2022-06-23 Sold (MLS) $129,900 UNYREIS
• 2022-04-18 Pending — UNYREIS
• 2022-04-04 Listed $129,900 UNYREIS
• 2021-06-14 Sold (MLS) $97,500 UNYREIS
• 2021-04-06 Pending — UNYREIS
• 2021-01-18 Contingent — UNYREIS
• 2021-01-12 Listed $99,500 UNYREIS
• 2014-02-18 Listed $79,000 UNYREIS
• 2012-07-02 Sold (MLS) $75,000 UNYREIS
• 2011-06-22 Listed $86,900 UNYREIS