7624 Ridge Rd · Sodus, NY 14551

$189,900

6 bd · 3.0 ba · 2,140 sqft · MultiFamily public records · 12 Days on market

Built 1900 0.45 ac lot

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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 +7.5/15.0
• Schools +3.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 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

3-Family Investment Opportunity Recently updated and featuring separate utilities, this corner-lot property offers excellent income potential! The property also includes a large pole barn — perfect for storage, a workshop, or additional possibilities. Whether you’re looking to expand your investment portfolio or live in one unit while generating rental income from the others, this property is packed with opportunity! Corner Lot Pole Barn Separate Utilities Income Potential Lots of Potential! Perfect for investors or owner-occupants alike! Delayed showings till 5/27/26 ay 9am and Delayed Neg. till 6/4/26 at 2pm

Key facts

• Separate utilities
• Pole barn
• Income potential

Tags

• CORNER LOT
• POLE BARN
• SEPARATE UTILITIES
• INCOME POTENTIAL

Property features AI

Finance

• Other: Three total units in the building; Two separate gas meters; three separate electric meters
• Financial info: Owner pays water; water included in rent; For multi-unit property: operating expenses include water

Exterior

• Parking: Attached garage with 4 spaces; Gravel and unpaved parking; two or more additional spaces
• Utilities: Cable available; Public water connected; Septic tank sewer; Circuit breaker electrical
• Home design: Two-story building; Resale property
• Construction: Aluminum and vinyl siding; Copper plumbing; Asphalt and metal roof
• Exterior features: Covered porch; Corner lot with rectangular dimensions (approx. 150 x 176); Main thoroughfare frontage

Interior

• Flooring: Carpet; Vinyl; Varies
• Bathrooms: Three full bathrooms
• Heating & cooling: Gas heating; Baseboard heating; Radiant heating
• Interior features: Carpet and vinyl flooring; some areas vary; Full basement
• Laundry & utility: Washer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $623/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $190k).

Location & tenants

• Location reads 70/100 on livability (#428 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools F, amenities F, employment D-.
• Sodus Central School District (rural): math 45% / reading 45% proficiency, ranked #462 of 590 in NY (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 29 active listings in the ZIP; 259 units permitted in Wayne County in 2024 (90 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Wayne County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $189,900

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 1900 — 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 F-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. 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.
7. 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.
8. 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: 2.12% ✓
• Cap rate: 18.10%
• Cash-on-cash: 42.16%
• DSCR: 2.88
• GRM: 3.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.9%
• Equity multiple: 2.66×
• Total profit: $88,279
• Equity at exit: $28,315

10-year hold

• IRR: 45.3%
• Equity multiple: 5.33×
• Total profit: $230,344
• Equity at exit: $16,419

Cash invested: $53,172 (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 14551

• Home prices YoY: -13.9%
• Active inventory: 29
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $4,031 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$241 /mo · $2,896/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$847
• Net cashflow: $1,868

Break-even live

Break-even rent $1,666

Max offer price $189,900

Occupancy floor 49%

Sensitivity live

Price	-10% $1,976	-5% $1,922	+0% $1,868	+5% $1,814	+10% $1,761
Rent	-10% $1,550	-5% $1,709	+0% $1,868	+5% $2,027	+10% $2,187
Rate	-1.0pp $1,964	-0.5pp $1,917	base $1,868	+0.5pp $1,819	+1.0pp $1,769

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$4,032
Total (3 units)			$4,031

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-08
   status $189,900 Pending 12 DOM
2. 2026-06-07
   days on market $189,900 Active 12 DOM
3. 2026-06-05
   days on market $189,900 Active 10 DOM
4. 2026-06-04
   days on market $189,900 Active 8 DOM
5. 2026-06-02
   days on market $189,900 Active 7 DOM
6. 2026-06-01
   days on market $189,900 Active 6 DOM
7. 2026-05-31
   days on market $189,900 Active 5 DOM
8. 2026-05-26
   listed $189,900 Active

ⓘ 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: $2,896 · $241/mo
• Projected year-2 tax: $3,052 · $254/mo
• Expected delta: +$157/yr (+$13/mo · 5.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $48,372
• − Mortgage interest: −$10,637
• − Property taxes: −$2,896
• − Insurance: −$950
• − Repairs & maintenance: −$3,870
• − Management: −$3,870
• − Depreciation: −$5,524
• Taxable income: $20,626
• Est. tax owed @ 24.0%: −$4,950
• After-tax cash flow: $17,468/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: Sodus Central School District
• NCES district ID: 3627120
• Math proficiency: 45% ▲ 7.00%
• Reading proficiency: 45% ▲ 9.00%
• Median HH income: $46,269
• Composite: 38.29/100
• National rank: #4233
• State rank: #462 of 590 in NY

Livability — Sodus

• Score: 70/100
• State rank: #428
• US rank: #7433

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,969

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 85,662 people
• By 2030: 81,945 · -4.3%
• By 2040: 73,735 · -13.9%
• By 2050: 65,029 · -24.1%
• By 2075: 47,451 · -44.6%
• By 2100: 31,574 · -63.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 12% Two or more races 8% Hispanic / Latino 5%
• Common ancestry: Iranian 11% Romanian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 3% German/W. Germanic 3% French/Haitian/Cajun 1%

Political lean MEDSL · Wayne

• 2024 margin: Strong R (+23.1) · D 38.5% · R 61.5%
• 2008→2024 swing: -13.2pp toward R · 2008: -9.9pp · 2024: -23.1pp
• All cycles: 2024: R+23.1 2020: R+19.6 2016: R+26.1 2012: R+9.3 2008: R+9.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -36.35%
• Current HPI: 224.7978
• 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

1 event — show timeline

• 2026-05-26 Listed $189,900 UNYREIS

Property tax history

+5.2%/yr

Latest (2025): $2,896 · +3.5% YoY. Source: county tax records.