122 Lafayette Ave · Geneva, NY 14456

$329,900

8 bd · 4.0 ba · 4,194 sqft · MultiFamily public records · 79 Days on market

Built 1920 0.25 ac lot $79/sqft · 17% below area Est $396k · 17% under

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Why this score? — see what drove the C+ 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 +22.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +6.1/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• 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 (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

This 3-unit property features a 1920 brick home with a 1960 vinyl addition. It includes two 2-bedroom units and one 3-bedroom unit. Two units are currently rented, including a family-occupied unit at a reduced rent, and one unit is available. This home offers a great opportunity for investors or an owner-occupant looking to generate rental income while living on-site. With solid rental history and flexible options, this property is ready for someone to add value and make it their own.

Key facts

• 0.25 acre lot
• 2 garage spots
• Built 1920

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/?-bath units multifamily listed at $330k.

Deal economics

• At list price, monthly cash flow is $562 ($7k/yr) — positive. Per door: $281/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $330k).
• Recommended offer: $310k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 5.0% in Geneva — 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 (#177 in NY, #2,760 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime D+, employment D.
• Geneva City School District (town): math 36% / reading 43% proficiency, ranked #528 of 590 in NY (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 122 active listings in the ZIP; 284 units permitted in Ontario County in 2024 (69 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Ontario County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $82k; list at $330k implies a 302% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $310,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.11% ✓
• Cap rate: 8.34%
• Cash-on-cash: 7.30%
• DSCR: 1.33
• GRM: 7.5

CMA / ARV

• ARV (median comp): $395,791
• List price: $329,900
• Delta: -16.65%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.1%
• Equity multiple: 0.81×
• Total profit: $-17,564
• Equity at exit: $49,189

10-year hold

• IRR: 4.6%
• Equity multiple: 1.34×
• Total profit: $31,155
• Equity at exit: $28,524

Cash invested: $92,372 (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 14456

• Home prices YoY: -15.8%
• Active inventory: 122
• Price-to-rent: 15.0×

Monthly cashflow live

• Estimated rent: $3,655 medium
• Mortgage (P&I): −$1,730
• Tax from tax record: −$458 /mo · $5,492/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$768
• Net cashflow: $562

Break-even live

Break-even rent $2,943

Max offer price $329,900

Occupancy floor 80%

Sensitivity live

Price	-10% $749	-5% $656	+0% $562	+5% $469	+10% $376
Rent	-10% $274	-5% $418	+0% $562	+5% $707	+10% $851
Rate	-1.0pp $728	-0.5pp $646	base $562	+0.5pp $477	+1.0pp $390

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	—	$3,654
Total (2 units)			$3,655

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: $82,475
• Closing costs: $9,897
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $329,900 Active 79 DOM
2. 2026-06-17
   days on market $329,900 Active 78 DOM
3. 2026-06-17
   status $329,900 Active 77 DOM
4. 2026-06-16
   days on market $329,900 Active Under Contract 77 DOM
5. 2026-06-15
   days on market $329,900 Active Under Contract 76 DOM
6. 2026-06-13
   days on market $329,900 Active Under Contract 74 DOM
7. 2026-06-12
   days on market $329,900 Active Under Contract 73 DOM
8. 2026-06-09
   days on market $329,900 Active Under Contract 70 DOM
9. 2026-06-09
   status $329,900 Active Under Contract 69 DOM
10. 2026-06-08
    days on market $329,900 Active 69 DOM
11. 2026-06-07
    days on market $329,900 Active 68 DOM
12. 2026-06-07
    days on market $329,900 Active 67 DOM
13. 2026-06-04
    days on market $329,900 Active 64 DOM
14. 2026-06-02
    days on market $329,900 Active 63 DOM
15. 2026-06-01
    days on market $329,900 Active 62 DOM
16. 2026-05-31
    days on market $329,900 Active 61 DOM
17. 2026-05-31
    status $329,900 Active 60 DOM
18. 2026-05-08
    historical Active Under Contract 489-char remark

    Show marketing remark (489 chars)

    This 3-unit property features a 1920 brick home with a 1960 vinyl addition. It includes two 2-bedroom units and one 3-bedroom unit. Two units are currently rented, including a family-occupied unit at a reduced rent, and one unit is available. This home offers a great opportunity for investors or an owner-occupant looking to generate rental income while living on-site. With solid rental history and flexible options, this property is ready for someone to add value and make it their own.

19. 2026-03-31
    listed $329,900 Active 489-char remark

    Show marketing remark (489 chars)

    This 3-unit property features a 1920 brick home with a 1960 vinyl addition. It includes two 2-bedroom units and one 3-bedroom unit. Two units are currently rented, including a family-occupied unit at a reduced rent, and one unit is available. This home offers a great opportunity for investors or an owner-occupant looking to generate rental income while living on-site. With solid rental history and flexible options, this property is ready for someone to add value and make it their own.

20. 2004-11-19
    soldstatus $82,000

ⓘ 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: $5,492 · $458/mo
• Projected year-2 tax: $5,534 · $461/mo
• Expected delta: +$41/yr (+$3/mo · 0.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 16 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: $43,860
• − Mortgage interest: −$18,480
• − Property taxes: −$5,492
• − Insurance: −$1,650
• − Repairs & maintenance: −$3,509
• − Management: −$3,509
• − Depreciation: −$9,597
• Taxable income: $1,624
• Est. tax owed @ 24.0%: −$390
• After-tax cash flow: $6,357/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: Geneva City School District
• NCES district ID: 3611970
• Math proficiency: 36% ▲ 3.00%
• Reading proficiency: 43% ▲ 11.00%
• Median HH income: $44,012
• Composite: 33.48/100
• National rank: #5448
• State rank: #528 of 590 in NY

Livability — Geneva

• Score: 78/100
• State rank: #177
• US rank: #2760

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Geneva, NY
• Population (ZIP): 19,864

Population outlook (Ontario County) Hauer SSP2

• Today (2025): 111,230 people
• By 2030: 111,401 · +0.2%
• By 2040: 109,535 · -1.5%
• By 2050: 104,895 · -5.7%
• By 2075: 92,999 · -16.4%
• By 2100: 73,723 · -33.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 13% Two or more races 7% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9%
• Common ancestry: Iranian 5% Slovak 3% Italian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 2% German/W. Germanic 1%

Political lean MEDSL · Ontario

• 2024 margin: Toss-up / Even · D 49.4% · R 50.6%
• 2008→2024 swing: -1.0pp toward R · 2008: -0.1pp · 2024: -1.2pp
• All cycles: 2024: R+1.2 2020: R+0.0 2016: R+8.6 2012: R+1.6 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -57.56%
• Current HPI: 307.9168
• Rent YoY: —
• Metro: —
• 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

+302.3% since first listed

3 events — show timeline

• 2026-05-08 Contingent — UNYREIS
• 2026-03-31 Listed $329,900 UNYREIS
• 2004-11-19 Sold (Public Records) $82,000 Public Records

Property tax history

+8.2%/yr

Latest (2025): $5,492 · +0.3% YoY. Source: county tax records.