79 Lettington Ave · Gates, NY 14624

$199,900

4 bd · 1.5 ba · 1,518 sqft · SingleFamily public records · 5 Days on market

Built 1942 0.27 ac lot $132/sqft · 13% below area Est $240k · 17% under

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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).

• ARV discount +15.0/15.0
• Cash flow +7.4/30.0
• 1% rule +5.1/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This Fantastic 3-4 bedroom Colonial has too many features to count!! Gleaming hardwoods add character w/ luxury vinyl flooring in sunken living room (potential 4th bedroom w/ half bath) & kitchen where you’ll find solid surface countertops & custom cabinetry. Upstairs main bdrm has walk-in closet and a secret hiding place behind the built in book case! Weathered wood cultured stone & ceramic tile give you a SPA like feel in the main bath, accented by a custom vanity w/ concrete countertops and copper sink! The rustic finished basement gives you bonus square footage! This home has excellent bones with H/E furnace, Tear off roof 2016 and many more updates! The fully fenced back yard is an entertainers paradise! This secluded oasis backs to mature woods owned by Town of Gates! You will love the outdoor kitchen w/ concrete counters, stone and stainless appointments with multi tiered decks and patios, speakers, planters, storage & cooler! The pool has custom beach theme w/ sand step leading to the composite deck and even an outdoor shower with teak flooring! Don't forget the massive (24X24) garage!! DELAYED SHOWINGS UNTIL THURSDAY 5/18. DELAYED NEGOTIATIONS UNTIL WEDNESDAY 5/24 AT NOON

Key facts

• Built-in grill area
• Above ground pool
• 3 seasons room

Tags

• HARDWOOD FLOORS
• 3 SEASONS ROOM
• PARTIALLY FINISHED BASEMENT
• MULTI TIERED DECK
• BUILT-IN GRILL AREA
• ABOVE GROUND POOL

Property features AI

Exterior

• Parking: Detached garage with garage door opener; 2-car garage
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: Two-story home; Resale property
• Construction: Vinyl siding; Asphalt architectural shingle roof; Block foundation; Partially finished basement with sump pump
• Exterior features: Blacktop driveway; Deck; Patio; Porch; Enclosed porch; Fully fenced yard; Above-ground pool

Interior

• Kitchen: Gas cooktop; Gas oven; Gas range; Dishwasher; Microwave; Refrigerator
• Bedrooms: One bedroom on the main level
• Flooring: Hardwood; Tile; Vinyl; Varies
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Ceiling fan(s); Separate/formal dining room; Home office; Sliding glass door(s)
• Laundry & utility: Washer and dryer; Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-260 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $175k (12.5% below list).
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $175k (12.5% below list) — sets the bar for cash-flow.
• Cap rate 4.7% vs local median 5.9% in Gates — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 67/100 on livability (#582 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+; Watch: amenities F, commute F.
• Gates-Chili Central School District (suburban): math 41% / reading 42% proficiency, ranked #491 of 590 in NY (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Paul Road School (math 32% / reading 42%, grade F, #1,519 of 2,108 statewide, top 74%, 430 students, 42% FRL); Gates-Chili Middle School (math 25% / reading 40%, grade F, #504 of 729 statewide, top 70%, 854 students, 58% FRL); Gates-Chili High School (math 92% / reading 70%, grade A, #495 of 1,100 statewide, top 46%, 1,132 students, 55% FRL) — zoned schools average 52% FRL vs 31% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 127 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 16y 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.

Risks & watch-outs

• Watch-outs: property tax is 4.4% of price; built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $174,950 (12.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1942 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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?
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 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: 1.01% ✓
• Cap rate: 4.73%
• Cash-on-cash: -5.57%
• DSCR: 0.75
• GRM: 8.2

CMA / ARV

• ARV (median comp): $239,730
• List price: $199,900
• Delta: 14.71%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
45 Cheshire Ln	0.17mi	3/1.5 (-1)	1,458 (-4%)	0mo	$354,000	$243	80
140 Lettington Ave	0.09mi	4/1.5	1,368 (-10%)	3mo	$240,000	$175	76
51 Caroline Dr	0.55mi	4/1.5	1,512 (-0%)	1mo	$225,000	$149	73
69 Cheshire Ln	0.25mi	3/1.5 (-1)	1,386 (-9%)	7mo	$250,000	$180	63
26 Merrydale Dr	0.23mi	4/2.0	1,305 (-14%)	1mo	$250,000	$192	63
134 Arrowhead Dr	0.60mi	4/1.5	1,440 (-5%)	3mo	$240,000	$167	61
56 Ellis Dr	0.45mi	3/1.5 (-1)	1,618 (+7%)	2mo	$240,600	$149	61
274 Hinchey Rd	0.18mi	3/1.0 (-1)	1,328 (-12%)	6mo	$169,900	$128	59
36 Walbert Dr	0.46mi	3/1.5 (-1)	1,392 (-8%)	4mo	$305,000	$219	57
90 Caroline Dr	0.58mi	3/1.5 (-1)	1,453 (-4%)	5mo	$220,000	$151	56
19 Ingram Dr	0.25mi	3/1.5 (-1)	1,290 (-15%)	4mo	$220,000	$171	55
5 Ellis Dr	0.42mi	3/2.0 (-1)	1,698 (+12%)	4mo	$241,000	$142	50

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: -25.6%
• Equity multiple: 0.13×
• Total profit: $-48,613
• Equity at exit: $29,806

10-year hold

• IRR: -21.3%
• Equity multiple: -0.11×
• Total profit: $-62,316
• Equity at exit: $17,284

Cash invested: $55,972 (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 14624

• Active inventory: 127
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,026 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$729 /mo · $8,748/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $-260

Break-even live

Break-even rent $2,355

Max offer price $174,950

Occupancy floor —

Sensitivity live

Price	-10% $-147	-5% $-203	+0% $-260	+5% $-316	+10% $-373
Rent	-10% $-420	-5% $-340	+0% $-260	+5% $-180	+10% $-100
Rate	-1.0pp $-159	-0.5pp $-209	base $-260	+0.5pp $-312	+1.0pp $-364

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32 Stanton St Rochester, NY	3.0	1.0	1390	$1,500	$1.08	12d	1	1.14mi
136 Garfield St Rochester, NY	3.0	1.0	1152	$1,200	$1.04	20d	1	1.41mi

Listing history 14 events

1. 2026-06-21
   days on market $199,900 Active 5 DOM
2. 2026-06-18
   days on market $199,900 Active 2 DOM
3. 2026-06-16
   remarks 699-char remark
4. 2026-06-16
   pricedays on marketlisting id $199,900 Active 1 DOM
5. 2026-05-13
   listed $249,900 Active 1399-char remark
6. 2023-07-11
   soldstatus $258,000
7. 2023-07-07
   soldstatus $258,000 Closed Sale or Rented 1229-char remark

   Show marketing remark (1229 chars)

   This Fantastic 3-4 bedroom Colonial has too many features to count!! Gleaming hardwoods add character w/ luxury vinyl flooring in sunken living room (potential 4th bedroom w/ half bath) & kitchen where you’ll find solid surface countertops & custom cabinetry. Upstairs main bdrm has walk-in closet and a secret hiding place behind the built in book case! Weathered wood cultured stone & ceramic tile give you a SPA like feel in the main bath, accented by a custom vanity w/ concrete countertops and copper sink! The rustic finished basement gives you bonus square footage! This home has excellent bones with H/E furnace, Tear off roof 2016 and many more updates! The fully fenced back yard is an entertainers paradise! This secluded oasis backs to mature woods owned by Town of Gates! You will love the outdoor kitchen w/ concrete counters, stone and stainless appointments with multi tiered decks and patios, speakers, planters, storage & cooler! The pool has custom beach theme w/ sand step leading to the composite deck and even an outdoor shower with teak flooring! Don't forget the massive (24X24) garage!! DELAYED SHOWINGS UNTIL THURSDAY 5/18. DELAYED NEGOTIATIONS UNTIL WEDNESDAY 5/24 AT NOON

8. 2023-05-25
   status Pending Sale 1229-char remark

   Show marketing remark (1229 chars)

   This Fantastic 3-4 bedroom Colonial has too many features to count!! Gleaming hardwoods add character w/ luxury vinyl flooring in sunken living room (potential 4th bedroom w/ half bath) & kitchen where you’ll find solid surface countertops & custom cabinetry. Upstairs main bdrm has walk-in closet and a secret hiding place behind the built in book case! Weathered wood cultured stone & ceramic tile give you a SPA like feel in the main bath, accented by a custom vanity w/ concrete countertops and copper sink! The rustic finished basement gives you bonus square footage! This home has excellent bones with H/E furnace, Tear off roof 2016 and many more updates! The fully fenced back yard is an entertainers paradise! This secluded oasis backs to mature woods owned by Town of Gates! You will love the outdoor kitchen w/ concrete counters, stone and stainless appointments with multi tiered decks and patios, speakers, planters, storage & cooler! The pool has custom beach theme w/ sand step leading to the composite deck and even an outdoor shower with teak flooring! Don't forget the massive (24X24) garage!! DELAYED SHOWINGS UNTIL THURSDAY 5/18. DELAYED NEGOTIATIONS UNTIL WEDNESDAY 5/24 AT NOON

9. 2023-05-15
   listed $149,999 Active 1229-char remark

   Show marketing remark (1229 chars)

   This Fantastic 3-4 bedroom Colonial has too many features to count!! Gleaming hardwoods add character w/ luxury vinyl flooring in sunken living room (potential 4th bedroom w/ half bath) & kitchen where you’ll find solid surface countertops & custom cabinetry. Upstairs main bdrm has walk-in closet and a secret hiding place behind the built in book case! Weathered wood cultured stone & ceramic tile give you a SPA like feel in the main bath, accented by a custom vanity w/ concrete countertops and copper sink! The rustic finished basement gives you bonus square footage! This home has excellent bones with H/E furnace, Tear off roof 2016 and many more updates! The fully fenced back yard is an entertainers paradise! This secluded oasis backs to mature woods owned by Town of Gates! You will love the outdoor kitchen w/ concrete counters, stone and stainless appointments with multi tiered decks and patios, speakers, planters, storage & cooler! The pool has custom beach theme w/ sand step leading to the composite deck and even an outdoor shower with teak flooring! Don't forget the massive (24X24) garage!! DELAYED SHOWINGS UNTIL THURSDAY 5/18. DELAYED NEGOTIATIONS UNTIL WEDNESDAY 5/24 AT NOON

10. 2010-05-18
    soldstatus $112,500
11. 2010-05-17
    soldstatus $112,500
12. 2010-03-02
    listed $114,900
13. 2005-08-18
    soldstatus $95,000
14. 1993-06-02
    soldstatus $80,000

ⓘ 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: $8,748 · $729/mo
• Projected year-2 tax: $8,748 · $729/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,315
• − Mortgage interest: −$11,198
• − Property taxes: −$8,748
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,945
• − Management: −$1,945
• − Depreciation: −$5,815
• Taxable loss: −$6,335
• Est. tax savings @ 24.0%: +$1,520
• After-tax cash flow: $-1,597/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: Gates-Chili Central School District
• NCES district ID: 3611880
• Math proficiency: 41% ▼ -12.00%
• Reading proficiency: 42% ▼ -6.00%
• Median HH income: $55,045
• Composite: 36.23/100
• National rank: #4719
• State rank: #491 of 590 in NY

Livability — Gates

• Score: 67/100
• State rank: #582
• US rank: #10531

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Monroe County · 674,131 people
• Metro: Rochester, NY
• Population (ZIP): 38,626
• Household income: $87,989
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 584.0

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 (78%)
• Race & ethnicity: White 78% Black 9% Hispanic / Latino 6% Two or more races 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 6% Iranian 2% Lithuanian 2%
• Foreign-born: 7% · Canada, China, India
• Languages at home: 90% English-only · Spanish 3% Other Indo-European 3% Russian/Polish/Slavic 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: ▼ -151.26%
• Current HPI: 267.356
• 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

+149.9% since first listed

13 events — show timeline

• 2026-06-16 Listed $199,900 UNYREIS
• 2026-05-30 Listing Removed — UNYREIS
• 2026-05-27 Price Changed $275,000 UNYREIS
• 2026-05-13 Listed $249,900 UNYREIS
• 2023-07-11 Sold (Public Records) $258,000 Public Records
• 2023-07-07 Sold (MLS) $258,000 UNYREIS
• 2023-05-25 Pending — UNYREIS
• 2023-05-15 Listed $149,999 UNYREIS
• 2010-05-18 Sold (MLS) $112,500 UNYREIS
• 2010-05-17 Sold (Public Records) $112,500 Public Records
• 2010-03-02 Listed $114,900 UNYREIS
• 2005-08-18 Sold (Public Records) $95,000 Public Records
• 1993-06-02 Sold (Public Records) $80,000 Public Records

Property tax history

+7.8%/yr

Latest (2025): $8,748 · +45.7% YoY. Source: county tax records.