224 Ellicott St · Batavia, NY 14020

$169,900

6 bd · 1.5 ba · 2,772 sqft · MultiFamily · 42 Days on market

Built 1880 7,405 sqft lot $61/sqft · 21% below area Est $214k · 21% under

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• 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 (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Nice location and offices for attorney, insurance, real estate, doctor or retail.

Key facts

• 7,405 sq ft lot
• 10 garage spots
• Built 1880

Property features AI

Finance

• Financial info: Property contains 2 total units with separate gas and electric meters for each unit; Owner pays water; water included in rent/operating income; Operating expenses include water/sewer; One unit currently rented month-to-month for $1,100

Exterior

• Parking: 10 garage spaces; Multiple parking spaces (two or more)
• Utilities: Public water connected; Sewer connected
• Home design: Two-story multi-family building; Resale property
• Construction: Vinyl siding; Existing construction
• Exterior features: Near public transit; Rectangular lot (approx. 44 x 165)

Interior

• Kitchen: Oven/range; Refrigerator; Eat-in kitchen
• Bedrooms: Two 3-bedroom units
• Flooring: Laminate flooring; Varied flooring in places
• Bathrooms: Each unit has one full bathroom; one unit also has a half bathroom
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Full basement; Laminate and varied flooring throughout; Eat-in kitchen (in at least one unit)
• Laundry & utility: Laundry in unit (at least in one unit); Gas water heater

What this means for you Summary

Snapshot

• This is a 6-bed/1.5-bath multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.0% vs local median 5.5% in Batavia — 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 68/100 on livability (#536 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment C-, crime D+, amenities F.
• Batavia City School District (town): math 38% / reading 50% proficiency, ranked #477 of 590 in NY (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: John Kennedy School (math 35% / reading 50%, grade F, #1,356 of 2,108 statewide, top 64%, 481 students, 56% FRL); Batavia Middle School (math 23% / reading 50%, grade F, #464 of 729 statewide, top 64%, 595 students, 54% FRL); Batavia High School (math 87% / reading 75%, grade A, #485 of 1,100 statewide, top 45%, 645 students, 45% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: 90 active listings in the ZIP; 55 units permitted in Genesee County in 2024 (0 in 5+ unit buildings).
• At $3,046/mo this rent would consume 58% of the median local household income ($63k/yr) (locally 817% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Genesee County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y 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 $1k; list at $170k implies a 14058% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.79% ✓
• Cap rate: 15.00%
• Cash-on-cash: 31.08%
• DSCR: 2.38
• GRM: 4.6

CMA / ARV

• ARV (median comp): $214,434
• List price: $169,900
• Delta: -20.77%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 25.9%
• Equity multiple: 2.07×
• Total profit: $50,994
• Equity at exit: $25,333

10-year hold

• IRR: 33.6%
• Equity multiple: 4.06×
• Total profit: $145,646
• 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 14020

• Home prices YoY: -10.4%
• Active inventory: 90
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $3,046 high
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,548/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$640
• Net cashflow: $1,232

Break-even live

Break-even rent $1,486

Max offer price $169,900

Occupancy floor 55%

Sensitivity live

Price	-10% $1,350	-5% $1,291	+0% $1,232	+5% $1,173	+10% $1,115
Rent	-10% $992	-5% $1,112	+0% $1,232	+5% $1,353	+10% $1,473
Rate	-1.0pp $1,318	-0.5pp $1,275	base $1,232	+0.5pp $1,188	+1.0pp $1,143

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

Units	Beds	Baths	Est. rent
1× unit	3	1.5	$1,632
1× unit	0	0	$1,414
Total (2 units)			$3,046

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: —

Listing history 19 events

1. 2026-06-19
   days on market $169,900 Active 42 DOM
2. 2026-06-18
   days on market $169,900 Active 41 DOM
3. 2026-06-17
   days on market $169,900 Active 40 DOM
4. 2026-06-16
   days on market $169,900 Active 39 DOM
5. 2026-06-15
   days on market $169,900 Active 38 DOM
6. 2026-06-14
   days on market $169,900 Active 36 DOM
7. 2026-06-12
   days on market $169,900 Active 35 DOM
8. 2026-06-09
   days on market $169,900 Active 32 DOM
9. 2026-06-08
   days on market $169,900 Active 31 DOM
10. 2026-06-07
    days on market $169,900 Active 30 DOM
11. 2026-06-07
    days on market $169,900 Active 29 DOM
12. 2026-06-04
    days on market $169,900 Active 26 DOM
13. 2026-06-02
    days on market $169,900 Active 25 DOM
14. 2026-06-01
    days on market $169,900 Active 24 DOM
15. 2026-05-31
    days on market $169,900 Active 23 DOM
16. 2026-05-31
    days on market $169,900 Active 22 DOM
17. 2026-05-06
    listed $169,900 Active 584-char remark
18. 2007-04-10
    soldstatus $1,200 81-char remark

    Show marketing remark (81 chars)

    Nice location and offices for attorney, insurance, real estate, doctor or retail.

19. 2006-09-06
    listed $1,200 81-char remark

    Show marketing remark (81 chars)

    Nice location and offices for attorney, insurance, real estate, doctor or retail.

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

Taxation est. · year 1

• Rental income: $36,552
• − Mortgage interest: −$9,517
• − Property taxes: −$2,548
• − Insurance: −$850
• − Repairs & maintenance: −$2,924
• − Management: −$2,924
• − Depreciation: −$4,943
• Taxable income: $12,846
• Est. tax owed @ 24.0%: −$3,083
• After-tax cash flow: $11,703/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: Batavia City School District
• NCES district ID: 3603990
• Math proficiency: 38% ▼ -13.00%
• Reading proficiency: 50% ▲ 4.00%
• Median HH income: $43,288
• Composite: 37.13/100
• National rank: #4490
• State rank: #477 of 590 in NY

Livability — Batavia

• Score: 68/100
• State rank: #536
• US rank: #9660

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Batavia, NY
• County: Genesee County · 22,002 people
• City population: 22,002
• Metro: Batavia, NY
• Population (ZIP): 22,002
• Household income: $62,655
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 817.0

Population outlook (Genesee County) Hauer SSP2

• Today (2025): 56,113 people
• By 2030: 54,140 · -3.5%
• By 2040: 49,368 · -12.0%
• By 2050: 43,911 · -21.7%
• By 2075: 32,511 · -42.1%
• By 2100: 21,695 · -61.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 6% Hispanic / Latino 4% Black 3% Asian 1%
• Common ancestry: Romanian 11% Lithuanian 2% Slovak 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 3% Chinese 1%

Political lean MEDSL · Genesee

• 2024 margin: Solid R (+34.0) · D 33.0% · R 67.0%
• 2008→2024 swing: -15.6pp toward R · 2008: -18.4pp · 2024: -34.0pp
• All cycles: 2024: R+34.0 2020: R+31.7 2016: R+37.0 2012: R+20.9 2008: R+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.58%
• Current HPI: 263.2147
• Rent YoY: —
• Metro: Batavia, 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

+14058.3% since first listed

3 events — show timeline

• 2026-05-06 Listed $169,900 WNYREIS
• 2007-04-10 Sold (MLS) $1,200 UNYREIS
• 2006-09-06 Listed $1,200 UNYREIS