424 W Spruce St · East Rochester, NY 14445

$169,900

3 bd · 1.5 ba · 1,711 sqft · SingleFamily public records · 8 Days on market

Built 1952 4,792 sqft lot $99/sqft · 36% below area Est $267k · 36% under

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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 +27.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.7/10.0
• 1% rule +7.5/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 424 W. Spruce St. in the heart of the Village of East Rochester! Conveniently located near local shops, restaurants, and nightlife, this charming 2-bedroom Cape Cod offers the potential for a 3rd bedroom and an impressive amount of living space thanks to a spacious two-story addition. Cozy up by the wood-burning stove in the combined dining and family room, or retreat to the oversized primary suite featuring a massive walk-in closet. The home also offers two updated full bathrooms, an updated kitchen, and a generously sized living room perfect for entertaining. Additional highlights include a brand-new power-vented hot water tank, partially finished basement with workshop potenti

Key facts

• Wood-burning stove
• Updated kitchen
• 4,792 sq ft lot

Tags

• SPACIOUS TWO-STORY ADDITION
• WOOD-BURNING STOVE
• OVERSIZED PRIMARY SUITE
• MASSIVE WALK-IN CLOSET
• UPDATED FULL BATHROOMS
• UPDATED KITCHEN

Property features AI

Exterior

• Parking: Detached garage with garage door opener; 1 garage space
• Utilities: Public water connected; Sewer connected; Electricity available with circuit breakers; High-speed internet available; Cable available
• Home design: 2-story existing home; Block foundation; Asphalt roof; Vinyl siding exterior; Rectangular lot near public transit on a city street, lot dimensions ~40 x 120
• Construction: Built (existing); Vinyl siding; Copper and PEX plumbing
• Exterior features: Blacktop driveway; Fully fenced yard; Covered porch

Interior

• Kitchen: Gas oven and gas range; Range hood; Dishwasher; Refrigerator; Exhaust fan; Eat-in kitchen
• Bedrooms: One main-level bedroom; Convertible bedroom
• Flooring: Hardwood; Carpet; Ceramic tile; Varied flooring
• Bathrooms: Two full bathrooms; One full bathroom on the main level; Primary bedroom includes a bathroom
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Ceiling fans; Cathedral ceilings; Den; Eat-in kitchen; Separate/formal living room; Skylights; Natural woodwork; Window treatments; Programmable thermostat; Accessible bedroom and doors
• Laundry & utility: Washer and dryer; Laundry located in the basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $504 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Cap rate 9.9% vs local median 4.5% in East Rochester — 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 78/100 on livability (#155 in NY, #2,400 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: employment D+, crime D.
• East Rochester Union Free School District (suburban): math 50% / reading 51% proficiency, ranked #371 of 590 in NY (top 63%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 34 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• This rent runs 35% of the median local income ($74k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Monroe County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,900

Questions for the listing agent

1. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D 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?
5. 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.
6. 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.
7. 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: 1.25% ✓
• Cap rate: 9.85%
• Cash-on-cash: 12.71%
• DSCR: 1.57
• GRM: 6.7

CMA / ARV

• ARV (median comp): $267,098
• List price: $169,900
• Delta: -36.39%
• 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
34 Lochnavar Pkwy	0.42mi	3/1.5	1,784 (+4%)	0mo	$383,500	$215	73
10 Callingham Rd	0.44mi	3/1.5	1,738 (+2%)	7mo	$305,000	$175	71
5 Callingham Rd	0.45mi	3/1.5	1,595 (-7%)	2mo	$375,724	$236	66
128 W Spruce St	0.49mi	3/2.0	1,773 (+4%)	8mo	$260,000	$147	63
116 W Filbert St	0.53mi	3/2.0	1,816 (+6%)	5mo	$225,000	$124	58
51 Lochnavar Pkwy	0.54mi	3/2.5	1,783 (+4%)	8mo	$350,000	$196	57
910 Roosevelt Rd	0.20mi	3/1.5	1,458 (-15%)	11mo	$303,500	$208	56
103 Washington Rd	0.44mi	3/2.0	1,505 (-12%)	2mo	$318,900	$212	56
121 W Spruce St	0.51mi	4/2.0 (+1)	1,624 (-5%)	8mo	$270,000	$166	54
132 E Elm St	0.73mi	4/2.5 (+1)	1,725 (+1%)	9mo	$279,000	$162	48
121 Woodbine Ave	0.51mi	3/1.0	1,487 (-13%)	11mo	$301,000	$202	43
34 Charmwood Rd	0.54mi	3/2.5	1,518 (-11%)	11mo	$260,000	$171	43

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: 2.5%
• Equity multiple: 1.10×
• Total profit: $4,583
• Equity at exit: $25,333

10-year hold

• IRR: 12.1%
• Equity multiple: 1.96×
• Total profit: $45,432
• 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 14445

• Home prices YoY: -9.5%
• Active inventory: 34
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,124 high
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,548/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $504

Break-even live

Break-even rent $1,486

Max offer price $169,900

Occupancy floor 71%

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: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
108 W Filbert St Unit 2 East Rochester, NY	2.0	1.0	1100	$1,525	$1.39	3d	1	0.59mi
214 Magnolia Ave East Rochester, NY	3.0	1.0	1200	$1,600	$1.33	23d	1	0.77mi
218 1/2 Magnolia Ave East Rochester, NY	3.0	1.5	1200	$1,400	$1.17	44d	1	0.78mi
223 E Filbert St East Rochester, NY	3.0	1.5	1512	$2,475	$1.64	3d	1	0.89mi
405 Garfield Ave East Rochester, NY	3.0	1.0	1228	$2,000	$1.63	3d	1	1.00mi
3765 East Ave Rochester, NY	2.0	1.5	1826	$2,900	$1.59	3d	1	1.01mi
330 E Chestnut St East Rochester, NY	3.0	2.0	1200	$2,100	$1.75	10d	1	1.05mi
3540 East Ave Rochester, NY	1.0–2.0	1.0–2.5	1261	$4,123	$3.27	3d	10	1.17mi

Listing history 1 events

1. 2026-05-12
   listed $169,900 Active 1009-char remark

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥95°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: $25,486
• − Mortgage interest: −$9,517
• − Property taxes: −$2,548
• − Insurance: −$850
• − Repairs & maintenance: −$2,039
• − Management: −$2,039
• − Depreciation: −$4,943
• Taxable income: $3,551
• Est. tax owed @ 24.0%: −$852
• After-tax cash flow: $5,192/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: East Rochester Union Free School District
• NCES district ID: 3609930
• Math proficiency: 50% ▼ -16.00%
• Reading proficiency: 51% ▲ 5.00%
• Median HH income: $50,308
• Composite: 43.23/100
• National rank: #3058
• State rank: #371 of 590 in NY

Livability — East Rochester

• Score: 78/100
• State rank: #155
• US rank: #2400

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Rochester, NY
• County: Monroe County · 674,131 people
• City population: 7,529
• Metro: Rochester, NY
• Population (ZIP): 7,529
• Household income: $73,625
• Rent vs Own: 40.2% rent · 59.8% own
• Severe rent burden: 216.0

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 759,460 people
• By 2030: 757,154 · -0.3%
• By 2040: 740,644 · -2.5%
• By 2050: 714,443 · -5.9%
• By 2075: 645,883 · -15.0%
• By 2100: 547,084 · -28.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Black 3% Two or more races 3%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 4% Portuguese 2% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1% Tagalog/Filipino 1%

Political lean MEDSL · Monroe

• 2024 margin: D (+19.1) · D 59.5% · R 40.5%
• 2008→2024 swing: +1.4pp toward D · 2008: 17.7pp · 2024: 19.1pp
• All cycles: 2024: D+19.1 2020: D+21.0 2016: D+14.1 2012: D+17.4 2008: D+17.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -28.80%
• Current HPI: 273.7033
• Rent YoY: —
• Metro: Rochester, 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

2 events — show timeline

• 2026-05-20 Pending — UNYREIS
• 2026-05-12 Listed $169,900 UNYREIS

Property tax history

+6.9%/yr

Latest (2025): $10,909 · +72.7% YoY. Source: county tax records.