34 Myrtle St · Jamestown, NY 14701

$30,000

4 bd · 2.0 ba · 1,841 sqft · MultiFamily public records · 1 Days on market

Built 1899 2,700 sqft lot $16/sqft · 56% 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

Southside 2 unit property. Rented with long term tenants. Can be combined in a package deal with R1303972 and R1303942.

Key facts

• 2,700 sq ft lot
• Parking
• Built 1899

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $30k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $577/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $30k).
• Cap rate 52.5% 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 43% 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 $207 of loan paydown is wiped out by about $900 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 15y ago; this cycle's ask has dropped $15k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1899 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $30,000

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 1899 — 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. 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. 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?
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: 5.94% ✓
• Cap rate: 52.46%
• Cash-on-cash: 164.89%
• DSCR: 8.34
• GRM: 1.4

CMA / ARV

• ARV (median comp): $68,040
• List price: $30,000
• Delta: -55.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
419 Newland Ave	0.10mi	4/2.0	1,787 (-3%)	11mo	$27,000	$15	81
52 Mckinley Ave	0.15mi	4/2.0	1,799 (-2%)	11mo	$14,000	$8	80
125 Superior St	0.21mi	4/2.0	1,744 (-5%)	7mo	$85,000	$49	76
71 Myrtle St	0.10mi	4/2.0	2,016 (+10%)	6mo	$67,000	$33	75
127 Maple St	0.55mi	4/2.0	1,834 (-0%)	3mo	$13,000	$7	71
228 Forest Ave	0.10mi	4/2.0	2,080 (+13%)	5mo	$11,000	$5	69
11 Prather Ave	0.29mi	3/2.0 (-1)	1,688 (-8%)	1mo	$78,000	$46	67
618 Newland Ave	0.05mi	3/2.0 (-1)	2,044 (+11%)	9mo	$65,000	$32	67
11 Mckinley Ave	0.17mi	5/3.0 (+1)	2,008 (+9%)	3mo	$54,000	$27	65
64 Barrett Ave	0.29mi	3/2.0 (-1)	1,917 (+4%)	16mo	$37,000	$19	62
273 S Main St	0.28mi	4/1.0	1,600 (-13%)	11mo	$21,000	$13	52
50 Colfax St	0.49mi	4/2.0	1,996 (+8%)	15mo	$60,000	$30	51

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: 9.18×
• Total profit: $68,708
• Equity at exit: $4,473

10-year hold

• IRR: —
• Equity multiple: 19.42×
• Total profit: $154,717
• Equity at exit: $2,594

Cash invested: $8,400 (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 14701

• Home prices YoY: -18.5%
• Active inventory: 313
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,783 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$85 /mo · $1,014/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $1,154

Break-even live

Break-even rent $322

Max offer price $30,000

Occupancy floor 30%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,782
Total (2 units)			$1,783

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: $7,500
• Closing costs: $900
• 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	0.50mi

Listing history 14 events

1. 2026-05-10
   historical
2. 2026-04-10
   price $30,000
3. 2026-02-10
   price $39,900
4. 2025-11-18
   listed $45,000 Active
5. 2021-09-28
   soldstatus $27,500 Closed Sale or Rented 119-char remark

   Show marketing remark (119 chars)

   Southside 2 unit property. Rented with long term tenants. Can be combined in a package deal with R1303972 and R1303942.

6. 2021-09-28
   soldstatus $25,000

   Show marketing remark (119 chars)

   Southside 2 unit property. Rented with long term tenants. Can be combined in a package deal with R1303972 and R1303942.

7. 2021-03-16
   status Under Contract- Do Not Show 119-char remark

   Show marketing remark (119 chars)

   Southside 2 unit property. Rented with long term tenants. Can be combined in a package deal with R1303972 and R1303942.

8. 2021-02-19
   historical Continue to Show- Under Contract 119-char remark

   Show marketing remark (119 chars)

   Southside 2 unit property. Rented with long term tenants. Can be combined in a package deal with R1303972 and R1303942.

9. 2020-10-27
   listed $40,000 Active 119-char remark

   Show marketing remark (119 chars)

   Southside 2 unit property. Rented with long term tenants. Can be combined in a package deal with R1303972 and R1303942.

10. 2016-12-15
    soldstatus $35,000
11. 2012-05-03
    listed $39,900
12. 2011-01-28
    soldstatus $18,500
13. 2011-01-28
    listed $20,000
14. 2010-12-14
    soldstatus $18,500

ⓘ 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: $1,014 · $85/mo
• Projected year-2 tax: $1,014 · $85/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 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: $21,396
• − Mortgage interest: −$1,680
• − Property taxes: −$1,014
• − Insurance: −$150
• − Repairs & maintenance: −$1,712
• − Management: −$1,712
• − Depreciation: −$873
• Taxable income: $14,255
• Est. tax owed @ 24.0%: −$3,421
• After-tax cash flow: $10,430/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

+62.2% since first listed

14 events — show timeline

• 2026-05-10 Listing Removed — UNYREIS
• 2026-04-10 Price Changed $30,000 UNYREIS
• 2026-02-10 Price Changed $39,900 UNYREIS
• 2025-11-18 Listed $45,000 UNYREIS
• 2021-09-28 Sold (Public Records) $25,000 Public Records
• 2021-09-28 Sold (MLS) $27,500 UNYREIS
• 2021-03-16 Pending — UNYREIS
• 2021-02-19 Contingent — UNYREIS
• 2020-10-27 Listed $40,000 UNYREIS
• 2016-12-15 Sold (MLS) $35,000 UNYREIS
• 2012-05-03 Listed $39,900 UNYREIS
• 2011-01-28 Listed $20,000 UNYREIS
• 2011-01-28 Sold (MLS) $18,500 UNYREIS
• 2010-12-14 Sold (Public Records) $18,500 Public Records

Property tax history

-4.2%/yr

Latest (2025): $1,014 · +4.8% YoY. Source: county tax records.