1142 Prendergast Ave · Jamestown, NY 14701

$117,500

5 bd · 3.0 ba · 3,588 sqft · MultiFamily public records · 27 Days on market

Built 1914 5,400 sqft lot

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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 +7.5/15.0
• 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

Turn key 3 unit investment property with great return on investment. Total Rents are over 1600 per month with tenants paying all utilities. Second floor tenant has been in place for aprox 15 years. 3rd floor unit was just painted and has a new tenant moving in october 1st. Detached 2 car garage and off street parking.

Key facts

• Return on investment
• Income property
• Separate meters

Tags

• INCOME PROPERTY
• RETURN ON INVESTMENT
• SEPARATE METERS
• TENANTS PAY UTILITIES
• CLOSE PROXIMITY TO DOWNTOWN
• CLOSE PROXIMITY TO PARKS

Property features AI

Finance

• Financial info: Tenants pay all utilities; Operating expense details: see remarks

Exterior

• Parking: No driveway
• Utilities: Public water connected; Sewer connected
• Home design: Wood siding exterior; 2-story building; Resale property
• Construction: Wood siding construction; Existing structure
• Exterior features: Irregular residential lot; 45 x 120 lot dimensions; City street frontage

Interior

• Kitchen: Gas water heater (appliance)
• Bedrooms: Multi-unit property with 3 total units
• Flooring: Carpet; Laminate; Varies
• Bathrooms: Three full bathrooms
• Heating & cooling: Gas heating (see remarks)
• Interior features: Attic; Full basement
• Laundry & utility: Each unit has separate gas and electric meters

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/3.0-bath units multifamily listed at $118k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $542/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $118k).
• Recommended offer: $116k (1.5% below list) — sets the bar for market timing.
• Cap rate 22.9% 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 $3,212/mo this rent would consume 78% 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 $812 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 $33k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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.
• Current owner paid $52k; list at $118k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,737 (1.5% below list)

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 1914 — 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. 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: 2.73% ✓
• Cap rate: 22.90%
• Cash-on-cash: 59.29%
• DSCR: 3.64
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $60,996
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22 Bassett St	0.08mi	5/3.0	3,734 (+4%)	20mo	$55,000	$15	73
91 Newton Ave	0.22mi	5/3.0	3,381 (-6%)	23mo	$150,000	$44	61
54 Lakeview Ave	0.36mi	5/3.0	3,108 (-13%)	6mo	$46,000	$15	55
853 Prendergast Ave	0.23mi	5/3.0	3,064 (-15%)	20mo	$22,000	$7	48
253 Falconer St	0.65mi	6/4.0 (+1)	3,338 (-7%)	12mo	$155,000	$46	39
152 Chandler St	0.74mi	5/—	4,027 (+12%)	17mo	$70,000	$17	31
537 E 5th St	0.58mi	6/4.0 (+1)	3,112 (-13%)	18mo	$80,000	$26	27

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: 58.0%
• Equity multiple: 3.57×
• Total profit: $84,608
• Equity at exit: $17,520

10-year hold

• IRR: 62.8%
• Equity multiple: 7.31×
• Total profit: $207,443
• Equity at exit: $10,159

Cash invested: $32,900 (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: 9.1×

Monthly cashflow live

• Estimated rent: $3,212 medium
• Mortgage (P&I): −$616
• Tax from tax record: −$247 /mo · $2,960/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$675
• Net cashflow: $1,626

Break-even live

Break-even rent $1,154

Max offer price $117,500

Occupancy floor 44%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	3	$3,213
Total (3 units)			$3,212

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: $29,375
• Closing costs: $3,525
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $117,500 Active 27 DOM
2. 2026-06-18
   days on market $117,500 Active 26 DOM
3. 2026-06-17
   days on market $117,500 Active 25 DOM
4. 2026-06-16
   days on market $117,500 Active 24 DOM
5. 2026-06-15
   days on market $117,500 Active 23 DOM
6. 2026-06-14
   days on market $117,500 Active 21 DOM
7. 2026-06-12
   pricedays on market $117,500 Active 20 DOM
8. 2026-06-09
   days on market $119,900 Active 17 DOM
9. 2026-06-08
   days on market $119,900 Active 16 DOM
10. 2026-06-07
    days on market $119,900 Active 15 DOM
11. 2026-06-05
    days on market $119,900 Active 12 DOM
12. 2026-06-02
    days on market $119,900 Active 10 DOM
13. 2026-06-01
    days on market $119,900 Active 9 DOM
14. 2026-05-31
    days on market $119,900 Active 8 DOM
15. 2026-05-30
    days on market $119,900 Active 7 DOM
16. 2026-05-23
    listed $119,900 Active
17. 2021-05-11
    soldstatus $52,000 Closed Sale or Rented 319-char remark

    Show marketing remark (319 chars)

    Turn key 3 unit investment property with great return on investment. Total Rents are over 1600 per month with tenants paying all utilities. Second floor tenant has been in place for aprox 15 years. 3rd floor unit was just painted and has a new tenant moving in october 1st. Detached 2 car garage and off street parking.

18. 2021-05-11
    soldstatus $52,000

    Show marketing remark (319 chars)

    Turn key 3 unit investment property with great return on investment. Total Rents are over 1600 per month with tenants paying all utilities. Second floor tenant has been in place for aprox 15 years. 3rd floor unit was just painted and has a new tenant moving in october 1st. Detached 2 car garage and off street parking.

19. 2021-01-06
    status Pending Sale 319-char remark

    Show marketing remark (319 chars)

    Turn key 3 unit investment property with great return on investment. Total Rents are over 1600 per month with tenants paying all utilities. Second floor tenant has been in place for aprox 15 years. 3rd floor unit was just painted and has a new tenant moving in october 1st. Detached 2 car garage and off street parking.

20. 2021-01-02
    historical Continue to Show- Under Contract 319-char remark

    Show marketing remark (319 chars)

    Turn key 3 unit investment property with great return on investment. Total Rents are over 1600 per month with tenants paying all utilities. Second floor tenant has been in place for aprox 15 years. 3rd floor unit was just painted and has a new tenant moving in october 1st. Detached 2 car garage and off street parking.

21. 2020-11-15
    price $59,900 319-char remark

    Show marketing remark (319 chars)

    Turn key 3 unit investment property with great return on investment. Total Rents are over 1600 per month with tenants paying all utilities. Second floor tenant has been in place for aprox 15 years. 3rd floor unit was just painted and has a new tenant moving in october 1st. Detached 2 car garage and off street parking.

22. 2020-11-05
    status Active 319-char remark

    Show marketing remark (319 chars)

    Turn key 3 unit investment property with great return on investment. Total Rents are over 1600 per month with tenants paying all utilities. Second floor tenant has been in place for aprox 15 years. 3rd floor unit was just painted and has a new tenant moving in october 1st. Detached 2 car garage and off street parking.

23. 2020-10-31
    historical Continue to Show- Under Contract 319-char remark

    Show marketing remark (319 chars)

    Turn key 3 unit investment property with great return on investment. Total Rents are over 1600 per month with tenants paying all utilities. Second floor tenant has been in place for aprox 15 years. 3rd floor unit was just painted and has a new tenant moving in october 1st. Detached 2 car garage and off street parking.

24. 2020-10-21
    status Active 319-char remark

    Show marketing remark (319 chars)

    Turn key 3 unit investment property with great return on investment. Total Rents are over 1600 per month with tenants paying all utilities. Second floor tenant has been in place for aprox 15 years. 3rd floor unit was just painted and has a new tenant moving in october 1st. Detached 2 car garage and off street parking.

25. 2020-10-12
    historical Continue to Show- Under Contract 319-char remark

    Show marketing remark (319 chars)

    Turn key 3 unit investment property with great return on investment. Total Rents are over 1600 per month with tenants paying all utilities. Second floor tenant has been in place for aprox 15 years. 3rd floor unit was just painted and has a new tenant moving in october 1st. Detached 2 car garage and off street parking.

26. 2020-09-25
    listed $62,500 Active 319-char remark

    Show marketing remark (319 chars)

    Turn key 3 unit investment property with great return on investment. Total Rents are over 1600 per month with tenants paying all utilities. Second floor tenant has been in place for aprox 15 years. 3rd floor unit was just painted and has a new tenant moving in october 1st. Detached 2 car garage and off street parking.

ⓘ 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: $2,960 · $247/mo
• Projected year-2 tax: $2,960 · $247/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 1/10 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: $38,544
• − Mortgage interest: −$6,582
• − Property taxes: −$2,960
• − Insurance: −$588
• − Repairs & maintenance: −$3,084
• − Management: −$3,084
• − Depreciation: −$3,418
• Taxable income: $18,829
• Est. tax owed @ 24.0%: −$4,519
• After-tax cash flow: $14,989/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

+91.8% since first listed

11 events — show timeline

• 2026-05-23 Listed $119,900 UNYREIS
• 2021-05-11 Sold (Public Records) $52,000 Public Records
• 2021-05-11 Sold (MLS) $52,000 UNYREIS
• 2021-01-06 Pending — UNYREIS
• 2021-01-02 Contingent — UNYREIS
• 2020-11-15 Price Changed $59,900 UNYREIS
• 2020-11-05 Relisted — UNYREIS
• 2020-10-31 Contingent — UNYREIS
• 2020-10-21 Relisted — UNYREIS
• 2020-10-12 Contingent — UNYREIS
• 2020-09-25 Listed $62,500 UNYREIS

Property tax history

-4.2%/yr

Latest (2025): $2,960 · +4.8% YoY. Source: county tax records.