581-583 Dewey Ave · Rochester, NY 14613

$99,900

6 bd · 2.0 ba · 2,134 sqft · MultiFamily public records · 10 Days on market

Built 1910 4,163 sqft lot $47/sqft · 25% below area Est $133k · 25% under

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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
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.2/10.0
• Schools +1.9/10.0

Multi-family units

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

Listing remarks MLS

Create and INSTANT CASH FLOW with this 6/6, side by side double with separate utilities! Special features include: vinyl siding, tilt-out thermopane windows, recent partial roof replacement, 2 newer hot water heaters, and a 3 year new Certificate of Occupancy. One side currently rented for $700/month plus utilites(partial DSS) and the other side in clean and intentionally being kept empty for logistics, and we HAVE to have ample showing notice!!!!!

Key facts

• 4,163 sq ft lot
• Built 1910
• Listed 10 days

Property features AI

Finance

• Other: Property contains 2 total units; Each unit has separate gas and electric meters; One unit is leased month-to-month at $1,300
• Financial info: Operating expense details: See remarks; Owner pays: See remarks (other)

Exterior

• Parking: No driveway
• Utilities: Public water connected; Sewer connected
• Home design: Two-story multi-family (Residential 2 Unit); Resale property
• Construction: Vinyl siding
• Exterior features: Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: No specific kitchen appliance list provided
• Bedrooms: Two 3-bedroom units
• Flooring: Carpet; Laminate; Varies
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement
• Laundry & utility: Gas water heater

🏷️ Possibly a rental listed for sale. The $99,900 price doesn't fit this home's estimated sale value (~$132,914) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $100k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $744/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $100k).
• Cap rate 24.2% vs local median 9.3% 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: 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: 71 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $691 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 $28k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.
• Current owner paid $72k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,900

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 1910 — 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. 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 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: 2.75% ✓
• Cap rate: 24.17%
• Cash-on-cash: 63.84%
• DSCR: 3.84
• GRM: 3.0

CMA / ARV

• ARV (median comp): $132,914
• List price: $99,900
• Delta: -24.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
140 Glendale Park	0.09mi	7/2.0 (+1)	2,210 (+4%)	5mo	$70,000	$32	81
408 Glenwood Ave	0.13mi	6/2.0	2,027 (-5%)	7mo	$110,000	$54	80
673-675 Dewey Ave	0.13mi	5/2.0 (-1)	2,194 (+3%)	12mo	$155,000	$71	74
195 Fulton Ave	0.39mi	6/2.0	2,158 (+1%)	12mo	$75,000	$35	70
106 Emerson St	0.39mi	6/2.0	2,268 (+6%)	4mo	$166,000	$73	67
96 Otis St	0.43mi	6/2.0	2,092 (-2%)	11mo	$125,000	$60	67
220 Glenwood Ave	0.24mi	5/2.0 (-1)	2,016 (-6%)	11mo	$170,000	$84	66
227 Saratoga Ave	0.55mi	6/3.0	2,000 (-6%)	2mo	$85,000	$43	58
254 Lexington Ave	0.33mi	5/2.0 (-1)	1,845 (-14%)	0mo	$135,000	$73	56
104 Parkway	0.71mi	6/2.0	2,070 (-3%)	10mo	$170,000	$82	54
12 Villa St	0.31mi	5/2.0 (-1)	2,362 (+11%)	12mo	$106,000	$45	52
929 Plymouth Ave N	0.68mi	6/2.0	2,380 (+12%)	4mo	$125,000	$53	46

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: 62.9%
• Equity multiple: 3.81×
• Total profit: $78,625
• Equity at exit: $14,895

10-year hold

• IRR: 67.4%
• Equity multiple: 7.82×
• Total profit: $190,651
• Equity at exit: $8,638

Cash invested: $27,972 (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 14613

• Home prices YoY: -2.0%
• Active inventory: 71
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,745 high
• Mortgage (P&I): −$524
• Tax from tax record: −$115 /mo · $1,379/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$576
• Net cashflow: $1,488

Break-even live

Break-even rent $861

Max offer price $99,900

Occupancy floor 41%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,744
Total (2 units)			$2,745

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
649 Jay St Rochester, NY	5.0	2.0	2144	$2,000	$0.93	2d	1	1.09mi

Listing history 10 events

1. 2026-05-11
   listed $99,900 Active 551-char remark
2. 2019-07-23
   soldstatus $72,000
3. 2019-04-19
   soldstatus $20,000
4. 2014-02-04
   soldstatus $33,000 453-char remark

   Show marketing remark (453 chars)

   Create and INSTANT CASH FLOW with this 6/6, side by side double with separate utilities! Special features include: vinyl siding, tilt-out thermopane windows, recent partial roof replacement, 2 newer hot water heaters, and a 3 year new Certificate of Occupancy. One side currently rented for $700/month plus utilites(partial DSS) and the other side in clean and intentionally being kept empty for logistics, and we HAVE to have ample showing notice!!!!!

5. 2014-01-31
   soldstatus $33,000
6. 2013-09-06
   listed $34,900 453-char remark

   Show marketing remark (453 chars)

   Create and INSTANT CASH FLOW with this 6/6, side by side double with separate utilities! Special features include: vinyl siding, tilt-out thermopane windows, recent partial roof replacement, 2 newer hot water heaters, and a 3 year new Certificate of Occupancy. One side currently rented for $700/month plus utilites(partial DSS) and the other side in clean and intentionally being kept empty for logistics, and we HAVE to have ample showing notice!!!!!

7. 2010-08-05
   soldstatus $30,000
8. 2010-08-04
   soldstatus $30,000

   Show marketing remark (279 chars)

   Two family. Excellent investment opportunity w/ gross annual rents of $15,600. Maintenance free vinyl siding, all new thermal replacement windows, separate utilities, plenty of off street parking, will pass all inspections. Brand new CofO 11/2009, Passed QHI Inspections 12/2009

9. 2010-01-04
   listed $32,900

   Show marketing remark (279 chars)

   Two family. Excellent investment opportunity w/ gross annual rents of $15,600. Maintenance free vinyl siding, all new thermal replacement windows, separate utilities, plenty of off street parking, will pass all inspections. Brand new CofO 11/2009, Passed QHI Inspections 12/2009

10. 1994-03-10
    soldstatus $65,304

ⓘ 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: $1,379 · $115/mo
• Projected year-2 tax: $1,534 · $128/mo
• Expected delta: +$155/yr (+$13/mo · 11.2%)

ⓘ 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: $32,940
• − Mortgage interest: −$5,596
• − Property taxes: −$1,379
• − Insurance: −$500
• − Repairs & maintenance: −$2,635
• − Management: −$2,635
• − Depreciation: −$2,906
• Taxable income: $17,289
• Est. tax owed @ 24.0%: −$4,149
• After-tax cash flow: $13,708/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
• City population: 432,803
• Population (ZIP): 14,740

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Black 45% White 22% Hispanic / Latino 20% Two or more races 10% Asian 8% Pacific Islander 1%
• Hispanic origin (detail): Puerto Rican 16% Dominican 3%
• Common ancestry: British 2% Serbian 1% Romanian 1%
• Foreign-born: 13% · Canada, India, Philippines
• Languages at home: 79% English-only · Spanish 12% Other Asian/Pacific 5% Other Indo-European 3%

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: ▼ -5.56%
• Current HPI: 274.2485
• 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

+53.0% since first listed

11 events — show timeline

• 2026-05-20 Pending — UNYREIS
• 2026-05-11 Listed $99,900 UNYREIS
• 2019-07-23 Sold (Public Records) $72,000 Public Records
• 2019-04-19 Sold (Public Records) $20,000 Public Records
• 2014-02-04 Sold (MLS) $33,000 UNYREIS
• 2014-01-31 Sold (Public Records) $33,000 Public Records
• 2013-09-06 Listed $34,900 UNYREIS
• 2010-08-05 Sold (Public Records) $30,000 Public Records
• 2010-08-04 Sold (MLS) $30,000 UNYREIS
• 2010-01-04 Listed $32,900 UNYREIS
• 1994-03-10 Sold (Public Records) $65,304 Public Records

Property tax history

+6.5%/yr

Latest (2025): $1,379 · +25.6% YoY. Source: county tax records.