47 Falconer St · Jamestown, NY 14701

$34,900

4 bd · 2.0 ba · 2,152 sqft · MultiFamily public records · 68 Days on market

Built 1897 8,490 sqft lot $16/sqft · 69% 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: 1 unit. estimate disagrees with records

Listing remarks MLS

This property is selling "AS IS, WHERE IS. " Land: 50’ x 169’ city lot, with a small garage in the back and has off street parking. There is a shared driveway with the neighboring house. House: 2,152 sq ft of living space (1st floor : 1,132 2nd floor 1,020) This property has been tested and flagged by City of Jamestown that there are lead paint violations on the outside of house and will need to be remedied. Downstairs Apartment: 2 Bedrooms, 1 Bathroom, Basement Access Upstairs Apartment: 2 Bedrooms, 1 Bathroom, There is one additional room that is currently being used as a laundry room & bedroom. This apartment is vacant. The lower apartment is currently rented on a month-to-month basis. There are separate gas and electric meters for each.

Key facts

• 8,490 sq ft lot
• 2 garage spots
• Built 1897

🏷️ Possibly a rental listed for sale. The $34,900 price doesn't fit this home's estimated sale value (~$111,313) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $35k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $35k).
• Recommended offer: $33k (6.0% below list) — sets the bar for market timing.
• Cap rate 49.6% 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: amenities D, crime F, commute 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.
• Zoned schools: Samuel G Love Elementary School (math 27% / reading 47%, grade F, #1,519 of 2,108 statewide, top 74%, 297 students, 82% FRL); George Washington Middle School (math 14% / reading 29%, grade F, #660 of 729 statewide, top 91%, 469 students, 86% FRL); Jamestown High School (math 87% / reading 92%, grade A+, #265 of 1,100 statewide, top 26%, 1,315 students, 80% FRL) — zoned schools average 83% FRL vs 60% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 317 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).
• At $1,973/mo this rent would consume 48% 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 $241 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($33k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $32,806 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1897 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 5.65% ✓
• Cap rate: 49.56%
• Cash-on-cash: 154.52%
• DSCR: 7.88
• GRM: 1.5

CMA / ARV

• ARV (median comp): $111,313
• List price: $34,900
• Delta: -68.65%
• 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
245 Fulton St	0.20mi	4/2.0	2,118 (-2%)	2mo	$47,000	$22	87
230 Price St	0.15mi	5/2.0 (+1)	2,118 (-2%)	9mo	$63,500	$30	78
16 Bowen St	0.26mi	4/2.0	2,250 (+5%)	3mo	$50,000	$22	78
161 Thayer St	0.34mi	4/2.0	2,133 (-1%)	7mo	$100,000	$47	77
211 E 8th St	0.25mi	4/2.0	2,280 (+6%)	4mo	$24,000	$11	75
31 Falconer St	0.04mi	4/2.0	1,860 (-14%)	8mo	$109,000	$59	69
532 Lakeview Ave	0.27mi	4/2.0	2,332 (+8%)	7mo	$65,500	$28	68
7 Lincoln St	0.31mi	5/2.0 (+1)	2,090 (-3%)	10mo	$32,000	$15	68
519 E 6th St	0.21mi	4/2.0	2,271 (+6%)	16mo	$38,000	$17	68
115 Fulton St	0.28mi	4/2.0	2,380 (+11%)	4mo	$30,000	$13	66
7 Valley St	0.50mi	4/2.0	2,054 (-5%)	11mo	$67,000	$33	60
1007 N Main St	0.39mi	4/2.0	2,355 (+9%)	9mo	$35,000	$15	59

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: 8.63×
• Total profit: $74,554
• Equity at exit: $5,204

10-year hold

• IRR: —
• Equity multiple: 18.23×
• Total profit: $168,386
• Equity at exit: $3,018

Cash invested: $9,772 (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: 317
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,973 medium
• Mortgage (P&I): −$183
• Tax from tax record: −$103 /mo · $1,233/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $1,258

Break-even live

Break-even rent $380

Max offer price $34,900

Occupancy floor 31%

Sensitivity live

Price	-10% $1,278	-5% $1,268	+0% $1,258	+5% $1,248	+10% $1,239
Rent	-10% $1,102	-5% $1,180	+0% $1,258	+5% $1,336	+10% $1,414
Rate	-1.0pp $1,276	-0.5pp $1,267	base $1,258	+0.5pp $1,249	+1.0pp $1,240

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,974
Total (2 units)			$1,973

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: $8,725
• Closing costs: $1,047
• 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	46d	1	1.07mi

Listing history 2 events

1. 2026-05-30
   days on market $34,900 Active 68 DOM
2. 2026-03-23
   listed $34,900 Active 787-char remark

   Show marketing remark (787 chars)

   This property is selling "AS IS, WHERE IS. " Land: 50’ x 169’ city lot, with a small garage in the back and has off street parking. There is a shared driveway with the neighboring house. House: 2,152 sq ft of living space (1st floor : 1,132 2nd floor 1,020) This property has been tested and flagged by City of Jamestown that there are lead paint violations on the outside of house and will need to be remedied. Downstairs Apartment: 2 Bedrooms, 1 Bathroom, Basement Access Upstairs Apartment: 2 Bedrooms, 1 Bathroom, There is one additional room that is currently being used as a laundry room & bedroom. This apartment is vacant. The lower apartment is currently rented on a month-to-month basis. There are separate gas and electric meters for each.

ⓘ 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: $1,233 · $103/mo
• Projected year-2 tax: $1,233 · $103/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 2/10 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: $23,676
• − Mortgage interest: −$1,955
• − Property taxes: −$1,233
• − Insurance: −$174
• − Repairs & maintenance: −$1,894
• − Management: −$1,894
• − Depreciation: −$1,015
• Taxable income: $15,510
• Est. tax owed @ 24.0%: −$3,722
• After-tax cash flow: $11,378/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

1 event — show timeline

• 2026-03-23 Listed $34,900 UNYREIS

Property tax history

-1.9%/yr

Latest (2025): $1,233 · +4.8% YoY. Source: county tax records.