399 E University Ave W #397 · Rochester, NY 14607

$499,900

6 bd · 4.0 ba · 2,628 sqft · MultiFamily public records · 10 Days on market

Built 1920 4,792 sqft lot Est $350k · 43% over

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Why this score? — see what drove the F 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 +15.1/30.0
• DSCR +4.6/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Completely transformed and move in ready!!! Located just minutes from great restaurants, boutique shopping, cafes, and popular local hotspots. This lovingly-maintained multifamily property offers strong rental potential and is an excellent addition to any portfolio—ideal for both new and experienced investors. The Rare, first-floor unit features a private porch, three bedrooms, two full bathrooms, and the convenience of in-unit laundry. Upstairs, there is a spacious two-bedroom, one-bath apartment, along with a separate one-bedroom, one-bath unit next door. The one-bedroom apartment also includes complimentary laundry access in the basement. Each unit offers comfortable living space

Key facts

• Private porch
• Laminate flooring
• Updated windows

Tags

• PRIVATE PORCH
• IN UNIT LAUNDRY
• UPDATED KITCHENS
• UPDATED BATHROOMS
• UPDATED WINDOWS
• LAMINATE FLOORING

Property features AI

Finance

• Other: Three-unit property; Multiple meters: 5 separate gas meters and 4 separate electric meters
• Financial info: Owner pays heat, snow removal, trash collection, and water; Operating expenses may include electric, insurance, snow removal, utilities, and water/sewer

Exterior

• Parking: Paved parking with two or more spaces available
• Utilities: Public water connected; Sewer connected; Circuit breaker electrical service; Cable and high-speed internet available
• Home design: 2-story building; Existing construction; Block foundation
• Construction: Vinyl siding; Copper plumbing; Asphalt shingle roof; Built (existing)
• Exterior features: Partial fencing; Covered porch; Fence

Interior

• Flooring: Ceramic tile; Hardwood; Varies
• Bathrooms: 4 full bathrooms
• Heating & cooling: Gas and steam heating; Window air conditioning units
• Interior features: Leaded glass and thermal windows; Ceiling fans
• Laundry & utility: Common area laundry and washer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/?-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive. Per door: $83/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $415k (17.0% below list).
• Recommended offer: $415k (17.0% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 9.3% in Rochester — 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 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: schools D+, 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.
• Market conditions: Rents rising fast (+4.6%/yr); 56 active listings in the ZIP; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $4,148/mo this rent would consume 83% of the median local household income ($60k/yr) (locally 2034% 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 $3k of loan paydown is wiped out by about $15k 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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y 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 $430k; 16% 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 $414,800 (17.0% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.83% ✗
• Cap rate: 6.69%
• Cash-on-cash: 1.43%
• DSCR: 1.06
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $349,524
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
33 Birch Cres	0.34mi	5/2.0 (-1)	2,518 (-4%)	7mo	$305,000	$121	58
275 S Goodman St	0.67mi	5/3.0 (-1)	2,621 (-0%)	11mo	$375,000	$143	50
213-215 Oxford St	0.56mi	6/3.0	2,876 (+9%)	8mo	$410,000	$143	48
135 Delevan St	0.40mi	5/3.0 (-1)	2,982 (+14%)	6mo	$300,000	$101	45
31 Park Ave	0.44mi	5/4.5 (-1)	2,828 (+8%)	20mo	$460,000	$163	43
37 Weld St	0.51mi	7/2.0 (+1)	2,832 (+8%)	11mo	$202,000	$71	41
566 North Goodman	0.67mi	6/2.0	2,460 (-6%)	14mo	$55,000	$22	39
26 Rowley St	0.62mi	6/2.0	2,798 (+6%)	20mo	$423,000	$151	36
154 Lyndhurst St	0.40mi	6/2.0	2,288 (-13%)	23mo	$175,000	$76	33
371 Hayward Ave	0.65mi	5/3.0 (-1)	2,258 (-14%)	22mo	$300,000	$133	19

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 · 4.6% rent growth · sell at horizon

5-year hold

• IRR: -12.4%
• Equity multiple: 0.54×
• Total profit: $-63,748
• Equity at exit: $74,537

10-year hold

• IRR: -1.3%
• Equity multiple: 0.90×
• Total profit: $-13,677
• Equity at exit: $43,222

Cash invested: $139,972 (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 14607

• Home prices YoY: -10.7%
• Rents YoY: 4.6%
• Active inventory: 56
• Price-to-rent: 20.1×

Monthly cashflow live

• Estimated rent: $4,148 high
• Mortgage (P&I): −$2,622
• Tax from tax record: −$280 /mo · $3,364/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$871
• Net cashflow: $167

Break-even live

Break-even rent $3,937

Max offer price $499,900

Occupancy floor 91%

Sensitivity live

Price	-10% $450	-5% $308	+0% $167	+5% $25	+10% $-116
Rent	-10% $-161	-5% $3	+0% $167	+5% $331	+10% $494
Rate	-1.0pp $419	-0.5pp $294	base $167	+0.5pp $37	+1.0pp $-95

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	—	$4,148
Total (2 units)			$4,148

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: $124,975
• Closing costs: $14,997
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   status $499,900 Active 10 DOM
2. 2026-06-18
   days on market $499,900 Active Under Contract 10 DOM
3. 2026-06-18
   status $499,900 Active Under Contract 9 DOM
4. 2026-06-16
   status $499,900 Pending 9 DOM
5. 2026-06-15
   days on market $499,900 Active 9 DOM
6. 2026-06-13
   days on market $499,900 Active 7 DOM
7. 2026-06-13
   days on market $499,900 Active 6 DOM
8. 2026-06-10
   days on market $499,900 Active 4 DOM
9. 2026-06-09
   days on market $499,900 Active 3 DOM
10. 2026-06-09
    days on market $499,900 Active 2 DOM
11. 2026-06-07
    remarks 693-char remark
12. 2026-06-07
    listed $499,900 Active 1 DOM

ⓘ 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: $3,364 · $280/mo
• Projected year-2 tax: $5,906 · $492/mo
• Expected delta: +$2,542/yr (+$212/mo · 75.6%)

ⓘ 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 ≥95°F today · 15 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: $49,776
• − Mortgage interest: −$28,002
• − Property taxes: −$3,364
• − Insurance: −$2,500
• − Repairs & maintenance: −$3,982
• − Management: −$3,982
• − Depreciation: −$14,543
• Taxable loss: −$6,596
• Est. tax savings @ 24.0%: +$1,583
• After-tax cash flow: $3,584/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: 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

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 · 674,131 people
• City population: 432,803
• Metro: Rochester, NY
• Population (ZIP): 17,891
• Household income: $59,787
• Rent vs Own: 81.7% rent · 18.3% own
• Severe rent burden: 2034.0

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 8% Two or more races 7% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 5% Slovak 4% Scotch-Irish 2%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 1% 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: ▼ -35.72%
• Current HPI: 297.8107
• Rent YoY: ▲ 4.60%
• 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

+108.3% since first listed

6 events — show timeline

• 2026-06-06 Listed $499,900 UNYREIS
• 2024-06-17 Sold (Public Records) $430,000 Public Records
• 2018-03-20 Sold (Public Records) $350,000 Public Records
• 2017-10-18 Sold (Public Records) $199,000 Public Records
• 2016-02-21 Listing Removed — UNYREIS
• 2015-11-06 Listed $240,000 UNYREIS

Property tax history

+6.7%/yr

Latest (2025): $3,364 · -0.5% YoY. Source: county tax records.