395 University Ave · Rochester, NY 14607

$459,900

5 bd · 4.5 ba · 2,817 sqft · MultiFamily public records · 69 Days on market

Built 1930 5,463 sqft lot $163/sqft · 28% above area Est $358k · 28% over

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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 +29.3/30.0
• DSCR +10.0/10.0
• 1% rule +7.4/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• 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: 3 units. confirmed

Listing remarks MLS

ASSUMABLE FHA MORTGAGE AT 3.5%! Completely renovated property with high end finishes, this three unit in the heart of the Neighborhood of the Arts is what you have been looking for! 3 bedroom unit rented at $2100 a month, owner occupied one bedroom unit has projected rent of $1200, and the other one bedroom unit currently rented well below market rent at $900 a month. Would make an excellent owner occupied property or a great addition to your investment portfolio. Separate utilities for each unit, off street parking, in unit laundry with washer/dryer combo included. C of O good until Nov 2027. Delayed negotiations on file, all offers due no later then April 19, 2026 at 6 PM.

Key facts

• Separate utilities
• Off street parking
• Renovated property

Tags

• RENOVATED PROPERTY
• HIGH END FINISHES
• SEPARATE UTILITIES
• OFF STREET PARKING
• IN UNIT LAUNDRY
• WASHER DRYER COMBO

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/4.5-bath units multifamily listed at $460k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $539/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $460k).
• Recommended offer: $432k (6.0% below list) — sets the bar for market timing.

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: 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.
• Zoned schools: Joseph C Wilson Foundation Academy (math 8% / reading 17%, grade F, #2,049 of 2,108 statewide, top 98%, 404 students, 91% FRL); East Lower School (math 2% / reading 22%, grade F, #715 of 729 statewide, top 98%, 304 students, 86% FRL); Edison Career And Technology High School (math 44% / reading 50%, grade D-, #1,007 of 1,100 statewide, top 93%, 1,233 students, 91% FRL).
• Market conditions: Rents rising fast (+4.6%/yr); 55 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).
• At $5,691/mo this rent would consume 114% 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 $14k 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 + 4.6% rent growth), your $129k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($432k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 17y 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 $297k; list at $460k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $432,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 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 1930 — 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 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?
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: 1.24% ✓
• Cap rate: 10.51%
• Cash-on-cash: 15.06%
• DSCR: 1.67
• GRM: 6.7

CMA / ARV

• ARV (median comp): $358,218
• List price: $459,900
• Delta: 28.39%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31 Park Ave	0.44mi	5/4.5	2,828 (+0%)	20mo	$460,000	$163	62
135 Delevan St	0.39mi	5/3.0	2,982 (+6%)	6mo	$300,000	$101	61
213-215 Oxford St	0.57mi	6/3.0 (+1)	2,876 (+2%)	8mo	$410,000	$143	53
33 Birch Cres	0.35mi	5/2.0	2,518 (-11%)	7mo	$305,000	$121	50
8 Rowley St	0.55mi	4/— (-1)	3,199 (+14%)	4mo	$300,000	$94	44
275 S Goodman St	0.67mi	5/3.0	2,621 (-7%)	11mo	$375,000	$143	42
26 Rowley St	0.62mi	6/2.0 (+1)	2,798 (-1%)	20mo	$423,000	$151	38
18 Rowley St	0.58mi	4/3.0 (-1)	2,730 (-3%)	24mo	$370,000	$136	37
48 Vick Park B	0.71mi	4/2.0 (-1)	2,632 (-7%)	14mo	$385,000	$146	29
566 North Goodman	0.67mi	6/2.0 (+1)	2,460 (-13%)	14mo	$55,000	$22	21
49 Rowley St	0.70mi	4/2.0 (-1)	2,432 (-14%)	18mo	$325,000	$134	14

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: 7.3%
• Equity multiple: 1.29×
• Total profit: $37,606
• Equity at exit: $68,573

10-year hold

• IRR: 17.9%
• Equity multiple: 2.59×
• Total profit: $204,338
• Equity at exit: $39,764

Cash invested: $128,772 (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: 55
• Price-to-rent: 20.2×

Monthly cashflow live

• Estimated rent: $5,691 medium
• Mortgage (P&I): −$2,412
• Tax from tax record: −$277 /mo · $3,319/yr
• Insurance: −$192
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,195
• Net cashflow: $1,616

Break-even live

Break-even rent $3,646

Max offer price $459,900

Occupancy floor 67%

Sensitivity live

Price	-10% $1,876	-5% $1,746	+0% $1,616	+5% $1,486	+10% $1,356
Rent	-10% $1,166	-5% $1,391	+0% $1,616	+5% $1,841	+10% $2,066
Rate	-1.0pp $1,848	-0.5pp $1,733	base $1,616	+0.5pp $1,497	+1.0pp $1,376

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	4.5	$5,691
Total (3 units)			$5,691

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: $114,975
• Closing costs: $13,797
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
34 Shepard St Rochester, NY	4.0	1.5	2347	$800	$0.34	45d	1	1.34mi

Listing history 41 events

1. 2026-06-21
   days on market $459,900 Active 69 DOM
2. 2026-06-18
   days on market $459,900 Active 66 DOM
3. 2026-06-17
   days on market $459,900 Active 65 DOM
4. 2026-06-16
   days on market $459,900 Active 64 DOM
5. 2026-06-15
   days on market $459,900 Active 63 DOM
6. 2026-06-13
   days on market $459,900 Active 61 DOM
7. 2026-06-13
   days on market $459,900 Active 60 DOM
8. 2026-06-10
   days on market $459,900 Active 58 DOM
9. 2026-06-09
   days on market $459,900 Active 57 DOM
10. 2026-06-09
    days on market $459,900 Active 56 DOM
11. 2026-06-07
    days on market $459,900 Active 55 DOM
12. 2026-06-05
    days on market $459,900 Active 52 DOM
13. 2026-06-03
    days on market $459,900 Active 51 DOM
14. 2026-06-03
    days on market $459,900 Active 50 DOM
15. 2026-06-01
    days on market $459,900 Active 49 DOM
16. 2026-05-31
    days on market $459,900 Active 48 DOM
17. 2026-04-13
    listed $459,900 Active 684-char remark

    Show marketing remark (684 chars)

    ASSUMABLE FHA MORTGAGE AT 3.5%! Completely renovated property with high end finishes, this three unit in the heart of the Neighborhood of the Arts is what you have been looking for! 3 bedroom unit rented at $2100 a month, owner occupied one bedroom unit has projected rent of $1200, and the other one bedroom unit currently rented well below market rent at $900 a month. Would make an excellent owner occupied property or a great addition to your investment portfolio. Separate utilities for each unit, off street parking, in unit laundry with washer/dryer combo included. C of O good until Nov 2027. Delayed negotiations on file, all offers due no later then April 19, 2026 at 6 PM.

18. 2025-01-23
    historical
19. 2025-01-23
    historical
20. 2025-01-21
    listed $430,000 Active
21. 2024-05-15
    listed $530,000 Active
22. 2024-05-14
    historical
23. 2024-02-14
    listed $530,000 Active
24. 2020-01-13
    soldstatus $297,000
25. 2019-09-05
    historical
26. 2019-08-23
    price $319,900
27. 2019-08-11
    price $329,900
28. 2019-07-11
    listed $339,900 Active
29. 2018-09-24
    soldstatus $213,346
30. 2017-05-25
    historical
31. 2017-05-15
    status Active
32. 2017-04-27
    historical Under Contract- Do Not Show
33. 2017-04-05
    price $279,900
34. 2017-04-05
    listed $289,900 Active
35. 2013-10-18
    soldstatus $240,000
36. 2013-10-16
    soldstatus $244,800
37. 2013-07-01
    listed $249,700
38. 2009-12-12
    soldstatus $185,000
39. 2009-12-11
    soldstatus $185,000
40. 2009-07-07
    listed $189,900
41. 2006-10-20
    soldstatus $119,000

ⓘ 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: $3,319 · $277/mo
• Projected year-2 tax: $5,546 · $462/mo
• Expected delta: +$2,227/yr (+$186/mo · 67.1%)

ⓘ 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: $68,292
• − Mortgage interest: −$25,762
• − Property taxes: −$3,319
• − Insurance: −$2,300
• − Repairs & maintenance: −$5,463
• − Management: −$5,463
• − Depreciation: −$13,379
• Taxable income: $12,607
• Est. tax owed @ 24.0%: −$3,026
• After-tax cash flow: $16,366/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

+286.5% since first listed

25 events — show timeline

• 2026-04-13 Listed $459,900 UNYREIS
• 2025-01-23 Listing Removed — UNYREIS
• 2025-01-23 Listing Removed — UNYREIS
• 2025-01-21 Listed $430,000 UNYREIS
• 2024-05-15 Listed $530,000 UNYREIS
• 2024-05-14 Listing Removed — UNYREIS
• 2024-02-14 Listed $530,000 UNYREIS
• 2020-01-13 Sold (Public Records) $297,000 Public Records
• 2019-09-05 Listing Removed — UNYREIS
• 2019-08-23 Price Changed $319,900 UNYREIS
• 2019-08-11 Price Changed $329,900 UNYREIS
• 2019-07-11 Listed $339,900 UNYREIS
• 2018-09-24 Sold (Public Records) $213,346 Public Records
• 2017-05-25 Listing Removed — UNYREIS
• 2017-05-15 Relisted — UNYREIS
• 2017-04-27 Contingent — UNYREIS
• 2017-04-05 Price Changed $279,900 UNYREIS
• 2017-04-05 Listed $289,900 UNYREIS
• 2013-10-18 Sold (MLS) $240,000 UNYREIS
• 2013-10-16 Sold (Public Records) $244,800 Public Records
• 2013-07-01 Listed $249,700 UNYREIS
• 2009-12-12 Sold (MLS) $185,000 UNYREIS
• 2009-12-11 Sold (Public Records) $185,000 Public Records
• 2009-07-07 Listed $189,900 UNYREIS
• 2006-10-20 Sold (Public Records) $119,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $3,319 · +0.0% YoY. Source: county tax records.