56 Amherst St · Rochester, NY 14607

$299,900

4 bd · 4.0 ba · 2,835 sqft · MultiFamily public records · 44 Days on market

Built 1925 4,380 sqft lot $106/sqft · 42% below area Est $513k · 42% 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 +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• 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

Great money making triple in Upper Monroe. Large 1 bedroom unit on first floor with charm & eat-in kitchen. 2 bedroom 2 bath 2nd floor unit. Third floor unit is nice for the size & could get more in rent. Off-street parking w/ parking area. Separate utilities. Open front porch.

Key facts

• 4,380 sq ft lot
• Parking
• Built 1925

Property features AI

Finance

• Financial info: Reported gross income: $32,400; Owner pays trash collection and water; Rent includes trash collection and water; Operating expenses include professional management; Individual unit rents listed: two units at $850, one unit at $1,000

Exterior

• Parking: Parking available
• Utilities: Public water connected; Sewer connected
• Home design: Multi-family property with 3 total units; 3 stories; Resale condition; Composite siding
• Construction: Composite siding construction
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 40 x 109

Interior

• Kitchen: Refrigerator included in each unit; Eat-in kitchen in one unit; Formal dining room in two units
• Bedrooms: Three separate 1-bedroom units (each unit listed as 1 bedroom)
• Flooring: Carpet, hardwood, laminate, luxury vinyl, tile
• Bathrooms: Total of 4 full bathrooms across units
• Heating & cooling: Gas forced-air heating
• Interior features: Full walk-out basement; Varied flooring including carpet, hardwood, laminate, luxury vinyl and tile
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/4.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $707/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $300k).
• Recommended offer: $291k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.8% 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: Rents rising fast (+4.6%/yr); 56 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $5,128/mo this rent would consume 103% 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 $2k of loan paydown is wiped out by about $9k 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 $84k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y 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 $107k; list at $300k implies a 180% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $290,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% 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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.71% ✓
• Cap rate: 14.77%
• Cash-on-cash: 30.29%
• DSCR: 2.35
• GRM: 4.9

CMA / ARV

• ARV (median comp): $513,384
• List price: $299,900
• Delta: -41.58%
• 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
33 Amherst St	0.04mi	4/4.0	2,811 (-1%)	16mo	$259,900	$92	84
185-187 Mt Vernon Ave	0.68mi	4/2.0	2,852 (+1%)	1mo	$280,000	$98	59
115 Rutgers St St	0.36mi	4/3.0	3,201 (+13%)	0mo	$440,000	$137	58
8 Rowley St	0.41mi	4/—	3,199 (+13%)	4mo	$300,000	$94	57
20 Avondale Park	0.65mi	4/3.0	2,735 (-4%)	4mo	$385,000	$141	56
275 S Goodman St	0.29mi	5/3.0 (+1)	2,621 (-8%)	11mo	$375,000	$143	56
395 Meigs St	0.23mi	5/3.0 (+1)	2,602 (-8%)	17mo	$357,500	$137	52
15 Edgerton St	0.66mi	4/3.0	2,761 (-3%)	13mo	$525,000	$190	50
80 Alexander St	0.61mi	5/3.0 (+1)	2,826 (-0%)	20mo	$430,000	$152	46
48 Vick Park B	0.56mi	4/2.0	2,632 (-7%)	14mo	$385,000	$146	42
49 Rowley St	0.26mi	4/2.0	2,432 (-14%)	18mo	$325,000	$134	41
1097 Monroe Ave	0.69mi	4/3.0	2,463 (-13%)	14mo	$270,000	$110	31

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: 26.7%
• Equity multiple: 2.13×
• Total profit: $94,781
• Equity at exit: $44,716

10-year hold

• IRR: 35.2%
• Equity multiple: 4.48×
• Total profit: $291,888
• Equity at exit: $25,930

Cash invested: $83,972 (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: 14.6×

Monthly cashflow live

• Estimated rent: $5,128 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$234 /mo · $2,806/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,077
• Net cashflow: $2,120

Break-even live

Break-even rent $2,445

Max offer price $299,900

Occupancy floor 54%

Sensitivity live

Price	-10% $2,289	-5% $2,205	+0% $2,120	+5% $2,035	+10% $1,950
Rent	-10% $1,715	-5% $1,917	+0% $2,120	+5% $2,322	+10% $2,525
Rate	-1.0pp $2,271	-0.5pp $2,196	base $2,120	+0.5pp $2,042	+1.0pp $1,963

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	4	$5,127
Total (3 units)			$5,128

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
42 Wilcox St Rochester, NY	3.0	1.0	2184	$1,695	$0.78	45d	1	0.14mi
34 Shepard St Rochester, NY	4.0	1.5	2347	$800	$0.34	44d	1	0.53mi
256 Oxford St Unit 1 Rochester, NY	3.0	1.0	2050	$3,000	$1.46	15d	1	0.53mi
95 Parkwood Ave Rochester, NY	5.0	2.5	2000	$3,900	$1.95	12d	1	0.93mi
57 Calumet St Rochester, NY	3.0	3.0	2500	$2,250	$0.90	15d	1	1.06mi
1 Champeney Ter Rochester, NY	3.0	1.0	1936	$1,650	$0.85	15d	1	1.34mi

Listing history 26 events

1. 2026-06-18
   days on market $299,900 Active 44 DOM
2. 2026-06-17
   days on market $299,900 Active 43 DOM
3. 2026-06-16
   days on market $299,900 Active 42 DOM
4. 2026-06-15
   days on market $299,900 Active 41 DOM
5. 2026-06-13
   days on market $299,900 Active 39 DOM
6. 2026-06-13
   days on market $299,900 Active 38 DOM
7. 2026-06-10
   days on market $299,900 Active 36 DOM
8. 2026-06-09
   days on market $299,900 Active 35 DOM
9. 2026-06-09
   days on market $299,900 Active 34 DOM
10. 2026-06-07
    days on market $299,900 Active 33 DOM
11. 2026-06-05
    days on market $299,900 Active 30 DOM
12. 2026-06-03
    days on market $299,900 Active 29 DOM
13. 2026-06-03
    days on market $299,900 Active 28 DOM
14. 2026-06-01
    days on market $299,900 Active 27 DOM
15. 2026-05-31
    days on market $299,900 Active 26 DOM
16. 2026-05-05
    listed $299,900 Active 377-char remark
17. 2026-01-07
    historical
18. 2026-01-02
    historical
19. 2026-01-01
    historical
20. 2025-11-05
    price $334,000
21. 2025-09-18
    listed $339,000 Active
22. 2013-12-04
    soldstatus $107,000

    Show marketing remark (290 chars)

    Great money making triple in Upper Monroe. Large 1 bedroom unit on first floor with charm & eat-in kitchen. 2 bedroom 2 bath 2nd floor unit. Third floor unit is nice for the size & could get more in rent. Off-street parking w/ parking area. Separate utilities. Open front porch.

23. 2013-11-25
    soldstatus $107,000
24. 2013-09-05
    listed $119,900

    Show marketing remark (290 chars)

    Great money making triple in Upper Monroe. Large 1 bedroom unit on first floor with charm & eat-in kitchen. 2 bedroom 2 bath 2nd floor unit. Third floor unit is nice for the size & could get more in rent. Off-street parking w/ parking area. Separate utilities. Open front porch.

25. 1999-05-18
    soldstatus $31,000
26. 1994-09-12
    soldstatus $80,000

ⓘ 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: $2,806 · $234/mo
• Projected year-2 tax: $3,937 · $328/mo
• Expected delta: +$1,131/yr (+$94/mo · 40.3%)

ⓘ 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $61,536
• − Mortgage interest: −$16,799
• − Property taxes: −$2,806
• − Insurance: −$1,500
• − Repairs & maintenance: −$4,923
• − Management: −$4,923
• − Depreciation: −$8,724
• Taxable income: $21,861
• Est. tax owed @ 24.0%: −$5,247
• After-tax cash flow: $20,189/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

+274.9% since first listed

11 events — show timeline

• 2026-05-05 Listed $299,900 UNYREIS
• 2026-01-07 Listing Removed — UNYREIS
• 2026-01-02 Listing Removed — UNYREIS
• 2026-01-01 Listing Removed — UNYREIS
• 2025-11-05 Price Changed $334,000 UNYREIS
• 2025-09-18 Listed $339,000 UNYREIS
• 2013-12-04 Sold (MLS) $107,000 UNYREIS
• 2013-11-25 Sold (Public Records) $107,000 Public Records
• 2013-09-05 Listed $119,900 UNYREIS
• 1999-05-18 Sold (Public Records) $31,000 Public Records
• 1994-09-12 Sold (Public Records) $80,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $2,806 · +18.1% YoY. Source: county tax records.