34 Foster St · Canandaigua, NY 14424

$239,900

4 bd · 2.0 ba · 1,548 sqft · MultiFamily public records · 10 Days on market

Built 1920 9,447 sqft lot Est $197k · 22% 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 +25.0/30.0
• DSCR +8.2/10.0
• 1% rule +6.6/10.0
• Schools +4.7/10.0
• Rent growth +4.6/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Amazing rental investment opportunity in Canandaigua featuring a separate 5-car bay garage offering excellent additional rental income. 5 garage bays rent out for extra income Both the lower and upper 2-bedroom units feature identical layouts with white kitchen cabinetry, included appliances, and in-unit laundry rooms complete with washers and dryers included in the sale. Each unit offers central A/C, and all windows have been replaced. The home and garage both received new metal roofs in 2023. Exterior features low-maintenance vinyl siding, a huge driveway, and plenty of off-street parking. Each apartment is approx. 775 sq ft. with 2 bedrooms Conveniently located just minutes from Canandai

Key facts

• 5-car bay garage
• Central a/c
• New metal roofs

Tags

• 5-CAR BAY GARAGE
• WHITE KITCHEN CABINETRY
• IN-UNIT LAUNDRY ROOMS
• CENTRAL A/C
• NEW METAL ROOFS
• LOW-MAINTENANCE VINYL SIDING

Property features AI

Finance

• Other: Owner pays water; rent includes water
• Financial info: Two-unit building with separate gas and electric meters for each unit; Operating expenses include water; Unit rents reported: one unit at $905, the other at $1,220 (both units leased with leases expiring December 31, 2026)

Exterior

• Parking: Five covered garage spaces; Paved parking with two or more spaces available
• Utilities: Public water connected (owner pays water for tenants); Sewer connected; Electric with circuit breakers
• Home design: Two-story multi-family building; Vinyl siding exterior; Existing/resale property
• Construction: Block foundation; Vinyl siding construction
• Exterior features: Rectangular residential lot with city street frontage; Lot dimensions approximately 87 x 108

Interior

• Kitchen: Eat-in kitchens in both units; Each unit includes an oven/range and refrigerator
• Bedrooms: Two 2-bedroom units (both units located within the building)
• Flooring: Carpet; Ceramic tile; Varies by area
• Bathrooms: Each unit has one full bathroom (2 full bathrooms total)
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Carpet and ceramic tile flooring in varied areas; Full basement
• Laundry & utility: One unit has washer and dryer included; the other unit has a washer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $524 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Cap rate 8.9% vs local median 3.4% in Canandaigua — 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 75/100 on livability (#243 in NY, #3,822 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living B; Watch: employment C-, amenities F, health & safety D-.
• Canandaigua City School District (suburban): math 50% / reading 59% proficiency, ranked #305 of 590 in NY (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Canandaigua Primary-Elementary School (math 37% / reading 49%, grade F, #1,354 of 2,108 statewide, top 64%, 1,475 students, 41% FRL); Canandaigua Middle School (math 38% / reading 55%, grade D+, #330 of 729 statewide, top 46%, 676 students, 0% FRL); Canandaigua Academy (math 100% / reading 92%, grade A+, #71 of 1,100 statewide, top 7%, 1,082 students, 36% FRL) — zoned schools at 26% FRL track the district average.
• Market conditions: Rents rising fast (+8.5%/yr); 223 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 284 units permitted in Ontario County in 2024 (69 in 5+ unit buildings).
• This rent runs 42% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Ontario 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 + 8.0% rent growth), your $67k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $52k; list at $240k implies a 361% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $239,900

Questions for the listing agent

1. Built in 1920 — 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 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?
4. 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.
5. 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.
6. 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: 1.16% ✓
• Cap rate: 8.91%
• Cash-on-cash: 9.36%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $196,596
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
221 Mason St	0.37mi	4/2.0	1,777 (+15%)	10mo	$225,000	$127	50

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 3.4%
• Equity multiple: 1.14×
• Total profit: $9,203
• Equity at exit: $35,770

10-year hold

• IRR: 17.2%
• Equity multiple: 2.76×
• Total profit: $117,918
• Equity at exit: $20,742

Cash invested: $67,172 (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 14424

• Home prices YoY: -21.2%
• Rents YoY: 8.5%
• Active inventory: 223
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $2,775 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$310 /mo · $3,725/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$583
• Net cashflow: $524

Break-even live

Break-even rent $2,112

Max offer price $239,900

Occupancy floor 76%

Sensitivity live

Price	-10% $660	-5% $592	+0% $524	+5% $456	+10% $388
Rent	-10% $305	-5% $414	+0% $524	+5% $633	+10% $743
Rate	-1.0pp $645	-0.5pp $585	base $524	+0.5pp $462	+1.0pp $398

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,776
Total (2 units)			$2,775

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
450 S Main St Canandaigua, NY	3.0	2.5	2060	$3,000	$1.46	45d	1	0.22mi
81 Pleasant St Canandaigua, NY	5.0	2.0	2132	$2,800	$1.31	4d	1	0.26mi
292 Mason St Canandaigua, NY	3.0	1.5	1225	$1,800	$1.47	4d	1	0.37mi
79 Granger St Canandaigua, NY	4.0	1.5	1740	$2,700	$1.55	45d	1	1.00mi
9000 Hammocks Dr Unit 3102 Canandaigua, NY	3.0	2.0	1356	$2,314	$1.71	45d	1	1.04mi

Listing history 8 events

1. 2026-06-09
   statusdays on market $239,900 Pending 10 DOM
2. 2026-06-07
   days on market $239,900 Active 9 DOM
3. 2026-06-03
   days on market $239,900 Active 5 DOM
4. 2026-06-03
   days on market $239,900 Active 4 DOM
5. 2026-06-01
   days on market $239,900 Active 3 DOM
6. 2026-05-31
   days on market $239,900 Active 2 DOM
7. 2026-05-29
   listed $239,900 Active
8. 2001-01-18
   soldstatus $52,000

ⓘ 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: $3,725 · $310/mo
• Projected year-2 tax: $3,890 · $324/mo
• Expected delta: +$165/yr (+$14/mo · 4.4%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,300
• − Mortgage interest: −$13,438
• − Property taxes: −$3,725
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,664
• − Management: −$2,664
• − Depreciation: −$6,979
• Taxable income: $2,631
• Est. tax owed @ 24.0%: −$631
• After-tax cash flow: $5,655/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: Canandaigua City School District
• NCES district ID: 3606330
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 59% ▲ 4.00%
• Median HH income: $56,375
• Composite: 47.09/100
• National rank: #2335
• State rank: #305 of 590 in NY

Livability — Canandaigua

• Score: 75/100
• State rank: #243
• US rank: #3822

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Canandaigua, NY
• County: Ontario County · 58,989 people
• City population: 28,786
• Metro: Rochester, NY
• Population (ZIP): 28,786
• Household income: $79,778
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 737.0

Population outlook (Ontario County) Hauer SSP2

• Today (2025): 111,230 people
• By 2030: 111,401 · +0.2%
• By 2040: 109,535 · -1.5%
• By 2050: 104,895 · -5.7%
• By 2075: 92,999 · -16.4%
• By 2100: 73,723 · -33.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 5% Black 1%
• Common ancestry: Romanian 4% Iranian 4% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% German/W. Germanic 1% Arabic 1%

Political lean MEDSL · Ontario

• 2024 margin: Toss-up / Even · D 49.4% · R 50.6%
• 2008→2024 swing: -1.0pp toward R · 2008: -0.1pp · 2024: -1.2pp
• All cycles: 2024: R+1.2 2020: R+0.0 2016: R+8.6 2012: R+1.6 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.94%
• Current HPI: 263.755
• Rent YoY: ▲ 8.46%
• 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

+361.3% since first listed

2 events — show timeline

• 2026-05-29 Listed $239,900 WNYREIS
• 2001-01-18 Sold (Public Records) $52,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $3,725 · -2.3% YoY. Source: county tax records.