Is 1501 Dewey Ave in Rochester, NY a good investment?

CashFlowRE grades it B with a 11.8% cap rate and $485/mo modeled cash flow at a $105,000 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 1501 Dewey Ave?

The modeled cap rate is 11.8% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $1,533/month, from CashFlowRE's rent model.

🏷️ Likely Rental

B Composite 74.0

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
ARV discount +15.0/15.0
DSCR +10.0/10.0
1% rule +9.6/10.0
Livability +3.8/5.0
Rent growth +2.5/5.0
Condition / age +2.2/5.0
Schools +0.9/10.0
Appreciation +0.0/10.0

$105,000

1501 Dewey Ave · Rochester, NY 14615

2 bd · 4.0 ba · 2,053 sqft · SingleFamily · 77 Days on market

Built 1920 Fair condition 5,160 sqft lot $51/sqft · 41% below area Est $179k · 41% under ↓ 30% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks MLS

Another Rockin' Rochester investment opportunity. BRAND NEW C of O. First group showing, Thursday 7/20. This one has two apartments- 1 studio and a two bdrm 2 bath apartment and one commercial space (approx. 650 sqft). Commercial space has full bath and is presently vacant -ready for you to make it your own. Lots of natural trim and original features in this home. A beautiful fireplace/mantel in the commercial area. Two enclosed porches, some vinyl replacement windows, appliances included. Gross Annual Income with projected rent of $900/mo for commercial space, is $27,720.

Key facts

Mixed-use property
Studio apartment
Prime location

What this means for you Summary

Snapshot

This is a 2-bed/4.0-bath single-family listed at $105k. Condition is rated fair.

Deal economics

At list price, monthly cash flow is $485 ($6k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($2k rent vs $105k).
Recommended offer: $99k (6.0% below list) — sets the bar for market timing.
Cap rate 11.8% vs local median 7.7% in 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 76/100 on livability (#222 in NY, #3,482 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment F.
Rochester City School District (urban): math 21% / reading 26% proficiency, ranked #589 of 590 in NY (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
Zoned schools: Joseph C Wilson Foundation Academy (math 8% / reading 17%, grade F, #2,049 of 2,108 statewide, top 98%, 404 students, 91% FRL); East Lower School (math 2% / reading 22%, grade F, #715 of 729 statewide, top 98%, 304 students, 86% FRL); Edison Career And Technology High School (math 44% / reading 50%, grade D-, #1,007 of 1,100 statewide, top 93%, 1,233 students, 91% FRL).
Market conditions: 97 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 93d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
This rent runs 36% of the median local income ($51k/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 $726 of loan paydown is wiped out by about $3k 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 $29k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

It's been on market 77 days — a 6% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
7 sale attempts since 4y 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 $90k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,700 (6.0% below list)

Questions for the listing agent

It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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?
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.
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.
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: 1.46% ✓
Cap rate: 11.84%
Cash-on-cash: 19.81%
DSCR: 1.88
GRM: 5.7

CMA / ARV

ARV (median comp): $179,452
List price: $105,000
Delta: -41.49%
Verdict: UNDERPRICED
Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
397 Raines Park	0.34mi	3/2.0 (+1)	2,084 (+2%)	14mo	$175,000	$84	57
740 Seneca Pkwy	0.57mi	3/2.0 (+1)	2,093 (+2%)	2mo	$200,000	$96	56
209 Alameda St	0.53mi	3/1.5 (+1)	1,942 (-5%)	9mo	$195,000	$100	44
539 Flower City Park	0.13mi	3/1.5 (+1)	1,750 (-15%)	23mo	$72,000	$41	35
7 Flower City Park	0.75mi	3/1.5 (+1)	2,320 (+13%)	1mo	$290,000	$125	27
191 Alameda St	0.54mi	3/1.5 (+1)	1,860 (-9%)	22mo	$145,000	$78	26
124 Alameda St	0.55mi	3/1.5 (+1)	1,784 (-13%)	20mo	$200,000	$112	20

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: 11.9%
Equity multiple: 1.47×
Total profit: $13,914
Equity at exit: $15,656

10-year hold

IRR: 20.9%
Equity multiple: 2.77×
Total profit: $52,005
Equity at exit: $9,078

Cash invested: $29,400 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 0 active · 8 under contract
Months of supply: 0.0 mo

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 14615

Home prices YoY: -11.7%
Active inventory: 97
Price-to-rent: 5.7×

Monthly cashflow live

Estimated rent: $1,533 high interval (Pro) →
Mortgage (P&I): −$551
Tax est. 1.5%: −$131 /mo · $1,575/yr
Insurance: −$44
HOA: −$0
Lot rent: −$0
Vacancy / Maint / Mgmt: −$322
Net cashflow: $485

Break-even live

Break-even rent $919

Max offer price $105,000

Occupancy floor 63%

Sensitivity live

Price	-10% $558	-5% $522	+0% $485	+5% $449	+10% $413
Rent	-10% $364	-5% $425	+0% $485	+5% $546	+10% $606
Rate	-1.0pp $538	-0.5pp $512	base $485	+0.5pp $458	+1.0pp $430

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: $26,250
Closing costs: $3,150
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
768 Flower City Park Rochester, NY	3.0	1.0	1995	$1,995	$1.00	59d	1	0.37mi
235 Flower City Park Rochester, NY	3.0	1.0	2000	$1,360	$0.68	93d	1	0.41mi
1108 Lake Ave Rochester, NY	2.0	1.0	2574	$1,600	$0.62	93d	1	0.70mi
98 Pierpont St Rochester, NY	3.0	1.0	1973	$1,295	$0.66	93d	1	0.88mi
327 Glenwood Ave Rochester, NY	3.0	1.0	2012	$1,690	$0.84	52d	1	1.21mi
28-30 Carthage Dr Unit 28 Rochester, NY	3.0	1.0	1415	$1,600	$1.13	72d	1	1.22mi

Property features AI

Finance

Other: Property has multiple meters: 1 separate gas meter and 4 separate electric metersRent includes services in some units (gardener, heat, hot water, snow removal, trash collection, water)
Financial info: Three total unitsGross annual income reported at $28,800Operating expenses reported at $8,000 (includes fuel, insurance, professional management, trash)Owner pays gas, heat, hot water, water, grounds care, snow removal, and trash collectionSome rents listed; one unit currently at $600 (month-to-month)

Exterior

Parking: Paved parking available with two or more spaces
Utilities: Public water connectedSewer connectedElectric with circuit breakers
Home design: Two-story multi-unit buildingResale propertyAsphalt roof
Construction: Vinyl sidingCopper plumbing
Exterior features: Rectangular lot approximately 43 x 120Near public transitResidential multi-use zoning

Interior

Kitchen: Eat-in kitchen in at least one unit
Bedrooms: One unit with 2 bedrooms (includes eat-in kitchen, living room, porch)
Flooring: CarpetHardwoodLuxury vinyl
Bathrooms: Four full bathrooms total across the propertyUnits include full bathrooms (each unit has at least one full bath)
Heating & cooling: Gas heating with baseboard units
Interior features: Full basementVaried interior finishes
Laundry & utility: Gas water heater

Listing history 50 events

2026-07-23

days on market $105,000 Active 77 DOM
2026-07-22

days on market $105,000 Active 76 DOM
2026-07-21

days on market $105,000 Active 75 DOM
2026-07-18

days on market $105,000 Active 72 DOM
2026-07-16

days on market $105,000 Active 70 DOM
2026-07-16

days on market $105,000 Active 69 DOM
2026-07-14

days on market $105,000 Active 68 DOM
2026-07-13

days on market $105,000 Active 67 DOM
2026-07-12

days on market $105,000 Active 66 DOM
2026-07-11

days on market $105,000 Active 65 DOM
2026-07-10

days on market $105,000 Active 64 DOM
2026-07-09

days on market $105,000 Active 63 DOM
2026-07-07

days on market $105,000 Active 61 DOM
2026-07-06

days on market $105,000 Active 60 DOM
2026-07-05

days on market $105,000 Active 59 DOM
2026-07-03

days on market $105,000 Active 57 DOM
2026-07-02

days on market $105,000 Active 56 DOM
2026-07-01

days on market $105,000 Active 55 DOM
2026-06-30

days on market $105,000 Active 54 DOM
2026-06-29

days on market $105,000 Active 53 DOM
2026-06-28

days on market $105,000 Active 52 DOM
2026-06-28

days on market $105,000 Active 51 DOM
2026-06-27

days on market $105,000 Active 50 DOM
2026-06-25

days on market $105,000 Active 48 DOM
2026-06-23

days on market $105,000 Active 46 DOM
2026-06-21

days on market $105,000 Active 45 DOM
2026-06-18

days on market $105,000 Active 42 DOM
2026-06-17

days on market $105,000 Active 41 DOM
2026-06-16

days on market $105,000 Active 40 DOM
2026-06-15

days on market $105,000 Active 39 DOM
2026-06-13

days on market $105,000 Active 37 DOM
2026-06-13

days on market $105,000 Active 36 DOM
2026-06-10

days on market $105,000 Active 34 DOM
2026-06-09

days on market $105,000 Active 33 DOM
2026-06-09

days on market $105,000 Active 32 DOM
2026-06-07

days on market $105,000 Active 31 DOM
2026-06-05

days on market $105,000 Active 28 DOM
2026-06-03

days on market $105,000 Active 27 DOM
2026-06-03

days on market $105,000 Active 26 DOM
2026-06-01

days on market $105,000 Active 25 DOM
2026-05-31

days on market $105,000 Active 24 DOM
2026-05-07

listed $105,000 Active 827-char remark
2023-09-26

soldstatus $89,900 Closed Sale or Rented 629-char remark

Show marketing remark (629 chars)

Another Rockin' Rochester investment opportunity. BRAND NEW C of O. First group showing, Thursday 7/20. This one has two apartments- 1 studio and a two bdrm 2 bath apartment and one commercial space (approx. 650 sqft). Commercial space has full bath and is presently vacant -ready for you to make it your own. Lots of natural trim and original features in this home. A beautiful fireplace/mantel in the commercial area. Two enclosed porches, some vinyl replacement windows, appliances included. Gross Annual Income with projected rent of $900/mo for commercial space, is $27,720. Also listed as commercial listing in MLS R1484932
2023-08-31

status Pending Sale 629-char remark

Show marketing remark (629 chars)

Another Rockin' Rochester investment opportunity. BRAND NEW C of O. First group showing, Thursday 7/20. This one has two apartments- 1 studio and a two bdrm 2 bath apartment and one commercial space (approx. 650 sqft). Commercial space has full bath and is presently vacant -ready for you to make it your own. Lots of natural trim and original features in this home. A beautiful fireplace/mantel in the commercial area. Two enclosed porches, some vinyl replacement windows, appliances included. Gross Annual Income with projected rent of $900/mo for commercial space, is $27,720. Also listed as commercial listing in MLS R1484932
2023-07-17

listed $89,900 Active 629-char remark

Show marketing remark (629 chars)

Another Rockin' Rochester investment opportunity. BRAND NEW C of O. First group showing, Thursday 7/20. This one has two apartments- 1 studio and a two bdrm 2 bath apartment and one commercial space (approx. 650 sqft). Commercial space has full bath and is presently vacant -ready for you to make it your own. Lots of natural trim and original features in this home. A beautiful fireplace/mantel in the commercial area. Two enclosed porches, some vinyl replacement windows, appliances included. Gross Annual Income with projected rent of $900/mo for commercial space, is $27,720. Also listed as commercial listing in MLS R1484932
2023-07-15

historical
2023-05-15

listed $99,900 Active
2023-05-12

historical
2023-03-08

listed $134,900 Active
2023-03-01

historical

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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $18,393
− Mortgage interest: −$5,882
− Property taxes: −$1,575
− Insurance: −$525
− Repairs & maintenance: −$1,471
− Management: −$1,471
− Depreciation: −$3,055
Taxable income: $4,414

Your marginal tax rate % combined federal + state — saved on this device

Est. tax owed @ 24.0%: −$1,059
After-tax cash flow: $4,764/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.

Condition & rehab AI · 1 photo

Fair 45/100 Moderate rehab Est. rehab $51,325–$92,385 screening

This multi-family property requires moderate renovations to improve its condition and increase its value. Exterior siding, interior walls, and bathrooms need significant attention.

Repairs flagged

Major exterior siding — Significant wear and tear
Major interior walls — Peeling paint
Major bathrooms — Needs updating
Major kitchen — Needs updating
Major windows — Visible wear

Value-add opportunities

Both exterior siding replacement — Improves curb appeal and value ↑
Both interior paint job — Enhances interior aesthetics and value ↑
Both bathroom updates — Modernizes and increases rental value ↑
Both kitchen updates — Modernizes and increases rental value ↑
Both window replacements — Enhances curb appeal and value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 8/100

Zoned Schools

Elementary School 54-Flower City Community School F NY #2,075/2,108 Nat'l #39,071/41,679 Middle Northwest College Preparatory High School F NY #725/729 Nat'l #13,663/14,009

Schools (NCES district)

District: Rochester City School District
NCES district ID: 3624750
Math proficiency: 21% ▬ 0.00%
Reading proficiency: 26% ▲ 4.00%
Median HH income: $30,923
Composite: 18.98/100
National rank: #8850
State rank: #589 of 590 in NY

B Composite livability gradescore 76/100

Livability — Rochester

Score: 76/100
State rank: #222
US rank: #3482

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

Census place: Rochester, NY
County: Monroe County · 759,460 people
City population: 432,803
Metro: Rochester, NY
Population (ZIP): 17,884
Household income: $51,262
Rent vs Own: 45.6% rent · 54.4% own
Severe rent burden: 8% of renters

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: Diverse neighborhood (Simpson 0.68)
Race & ethnicity: White 45% Black 27% Hispanic / Latino 20% Two or more races 9% Asian 3%
Hispanic origin (detail): Puerto Rican 16% Cuban 2%
Common ancestry: Arab 3% Romanian 2% Subsaharan African 2%
Foreign-born: 10% · Canada, India, Vietnam
Languages at home: 81% English-only · Spanish 11% Arabic 2% Other Indo-European 2%

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: ▼ -31.81%
Current HPI: 240.6896
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
#11 JPMorgan Chase New York $278.9B #21 Citigroup New York $170.8B #32 Goldman Sachs New York $126.9B #40 Morgan Stanley New York $107.3B #42 StoneX Group New York $99.9B #58 American Express New York $74.2B #98 TIAA New York $46.9B #273 Mastercard Purchase $28.2B #328 M&T Bank Buffalo $8.8B #392 Voya Financial New York $7.8B
Consumer Goods	9	$162B
#45 PepsiCo Purchase $91.9B #171 Colgate-Palmolive New York $19.5B #207 Estee Lauder New York $15.6B #246 Constellation Brands Victor $10.2B #422 PVH Corp New York $8.6B #364 Tapestry New York $6.7B #420 Ralph Lauren New York $6.6B #460 Steven Madden Long Island City $2.2B #498 Prestige Consumer Healthcare Tarrytown $1.1B
Insurance	4	$225B
#60 MetLife New York $71.0B #69 New York Life Insurance New York $62.6B #99 Travelers Companies New York $46.4B #101 AIG New York $44.9B
Telecommunications	2	$144B
#30 Verizon Communications New York $134.8B #297 Altice USA Long Island City $9.1B
Pharmaceuticals	2	$112B
#67 Pfizer New York $63.6B #94 Bristol-Myers Squibb New York $48.3B
Media / Entertainment	2	$69B
#295 Warner Bros. Discovery New York $39.9B #269 Paramount Global New York $28.9B

Price history

-30.0% since first listed

17 events — show timeline

2026-05-07 Listed $105,000 UNYREIS
2023-09-26 Sold (MLS) $89,900 UNYREIS
2023-08-31 Pending — UNYREIS
2023-07-17 Listed $89,900 UNYREIS
2023-07-15 Listing Removed — UNYREIS
2023-05-15 Listed $99,900 UNYREIS
2023-05-12 Listing Removed — UNYREIS
2023-03-08 Listed $134,900 UNYREIS
2023-03-01 Listing Removed — UNYREIS
2023-01-16 Price Changed $148,900 UNYREIS
2023-01-12 Price Changed $155,000 UNYREIS
2022-12-01 Listed $139,900 UNYREIS
2022-09-10 Listing Removed — UNYREIS
2022-09-07 Price Changed $129,900 UNYREIS
2022-06-10 Listed $139,900 UNYREIS
2022-06-09 Listing Removed — UNYREIS
2022-03-09 Listed $149,900 UNYREIS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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