54 Gardiner Ave · Rochester, NY 14611

$174,900

5 bd · 3.0 ba · 2,495 sqft · MultiFamily public records · 13 Days on market

Built 1900 5,227 sqft lot Est $170k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +6.1/15.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Appreciation +3.5/10.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

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

19th ward 3 family house. Used as a 2/2/1. All separate utilities. C of O good until 2021. Buying "as is". Only the 1 br is vacant. Current monthly rents are: 615,650 and the one bedroom has rented for 500. Front roof is new. The upper 2 br and 1 br were both recently remodeled.

Key facts

• 5,227 sq ft lot
• Built 1900
• Listed 13 days

Property features AI

Finance

• Other: Owner pays: Other (see remarks); Rent includes: See remarks
• Financial info: Three total rental units with separate gas and electric meters for each unit; Unit rents reported: $695 (1-bed), $995 (2-bed), $1,025 (2-bed); Operating expense details: See remarks

Exterior

• Parking: Common parking
• Utilities: Public water connected; Sewer connected
• Home design: Two-story multifamily building; Resale property; Composite siding
• Construction: Built (existing); Composite siding exterior
• Exterior features: Near public transit; Rectangular lot (40 x 128)

Interior

• Kitchen: Each unit includes an eat-in kitchen and a formal dining room
• Bedrooms: One 1-bedroom unit; Two 2-bedroom units
• Flooring: Laminate; Varies by area
• Bathrooms: Three full bathrooms total
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Laminate and varied flooring throughout
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $175k).
• Cap rate 19.8% 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 (+6.4%/yr); 78 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $3,874/mo this rent would consume 148% of the median local household income ($31k/yr) (locally 2168% 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 (-2.9%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 (-2.9% appreciation + 6.4% rent growth), your $49k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 7y 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 $75k; list at $175k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $174,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.21% ✓
• Cap rate: 19.84%
• Cash-on-cash: 48.38%
• DSCR: 3.15
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $169,660
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
54 Turner St	0.41mi	4/2.0 (-1)	2,472 (-1%)	6mo	$167,500	$68	65
456-458 Chili Ave	0.20mi	5/3.0	2,844 (+14%)	5mo	$135,000	$47	63
149 Warwick Ave	0.49mi	5/3.0	2,293 (-8%)	7mo	$110,000	$48	58
131 York St	0.71mi	5/3.0	2,246 (-10%)	0mo	$156,000	$69	50
19 Hillendale St	0.23mi	6/2.0 (+1)	2,864 (+15%)	7mo	$160,000	$56	50
231 Kenwood Ave	0.63mi	4/2.0 (-1)	2,439 (-2%)	14mo	$92,000	$38	46
554 Campbell St	0.72mi	5/2.0	2,256 (-10%)	1mo	$118,000	$52	46
311 Kenwood Ave Ave	0.70mi	6/2.0 (+1)	2,532 (+2%)	15mo	$180,000	$71	43
290 Kenwood Ave	0.70mi	6/2.0 (+1)	2,370 (-5%)	11mo	$160,000	$68	41
547 Maple St	0.70mi	6/2.0 (+1)	2,248 (-10%)	4mo	$36,667	$16	38
286 Kenwood Ave	0.69mi	5/2.0	2,202 (-12%)	10mo	$160,000	$73	36
3-5 Ravenwood Ave	0.74mi	4/2.0 (-1)	2,152 (-14%)	8mo	$210,000	$98	26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-2.93% appreciation · 6.37% rent growth · sell at horizon

5-year hold

• IRR: 49.6%
• Equity multiple: 3.28×
• Total profit: $111,477
• Equity at exit: $26,613

10-year hold

• IRR: 56.4%
• Equity multiple: 7.52×
• Total profit: $319,083
• Equity at exit: $16,043

Cash invested: $48,972 (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 14611

• Home prices YoY: -1.1%
• Rents YoY: 6.4%
• Active inventory: 78
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $3,874 high
• Mortgage (P&I): −$917
• Tax from tax record: −$96 /mo · $1,151/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$814
• Net cashflow: $1,974

Break-even live

Break-even rent $1,375

Max offer price $174,900

Occupancy floor 44%

Sensitivity live

Price	-10% $2,073	-5% $2,024	+0% $1,974	+5% $1,925	+10% $1,875
Rent	-10% $1,668	-5% $1,821	+0% $1,974	+5% $2,127	+10% $2,280
Rate	-1.0pp $2,063	-0.5pp $2,019	base $1,974	+0.5pp $1,929	+1.0pp $1,883

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.5	$3,873
Total (3 units)			$3,874

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
161 Fillmore St Rochester, NY	4.0	2.0	1612	$1,400	$0.87	15d	1	0.18mi
48 Thorndale Ter Rochester, NY	4.0	1.5	1700	$1,400	$0.82	15d	1	0.24mi
649 Jay St Rochester, NY	5.0	2.0	2144	$2,000	$0.93	3d	1	0.97mi
793 Woodbine Ave Rochester, NY	4.0	1.0	1700	$2,200	$1.29	3d	1	1.31mi

Listing history 11 events

1. 2026-06-18
   days on market $174,900 Active 13 DOM
2. 2026-06-17
   days on market $174,900 Active 12 DOM
3. 2026-06-16
   days on market $174,900 Active 11 DOM
4. 2026-06-15
   days on market $174,900 Active 10 DOM
5. 2026-06-13
   days on market $174,900 Active 8 DOM
6. 2026-06-13
   days on market $174,900 Active 7 DOM
7. 2026-06-10
   days on market $174,900 Active 5 DOM
8. 2026-06-09
   days on market $174,900 Active 4 DOM
9. 2026-06-09
   days on market $174,900 Active 3 DOM
10. 2026-06-07
    remarks 88-char remark
11. 2026-06-07
    listed $174,900 Active 2 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: $1,151 · $96/mo
• Projected year-2 tax: $2,054 · $171/mo
• Expected delta: +$902/yr (+$75/mo · 78.4%)

ⓘ 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 ≥96°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: $46,488
• − Mortgage interest: −$9,797
• − Property taxes: −$1,151
• − Insurance: −$874
• − Repairs & maintenance: −$3,719
• − Management: −$3,719
• − Depreciation: −$5,088
• Taxable income: $22,139
• Est. tax owed @ 24.0%: −$5,313
• After-tax cash flow: $18,380/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): 17,145
• Household income: $31,376
• Rent vs Own: 64.5% rent · 35.5% own
• Severe rent burden: 2168.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 55% White 22% Hispanic / Latino 18% Two or more races 13% Asian 1%
• Hispanic origin (detail): Puerto Rican 14% Dominican 2%
• Common ancestry: Romanian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 85% English-only · Spanish 12% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -2.93%
• Current HPI: 262.1549
• Rent YoY: ▲ 6.37%
• 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

+177.6% since first listed

11 events — show timeline

• 2026-06-05 Listed $174,900 UNYREIS
• 2019-11-01 Sold (MLS) $75,000 UNYREIS
• 2019-09-25 Sold (Public Records) $75,000 Public Records
• 2019-07-26 Pending — UNYREIS
• 2019-06-21 Price Changed $79,900 UNYREIS
• 2019-06-21 Relisted — UNYREIS
• 2019-06-11 Pending — UNYREIS
• 2019-05-22 Relisted — UNYREIS
• 2019-05-08 Pending — UNYREIS
• 2019-04-30 Listed $89,900 UNYREIS
• 2017-02-03 Sold (Public Records) $63,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,151 · -7.7% YoY. Source: county tax records.