178 Meadowdale Dr · Gates, NY 14624

$179,900

3 bd · 1.5 ba · 1,404 sqft · SingleFamily public records · 7 Days on market

Built 1951 0.34 ac lot $128/sqft · 26% below area Est $242k · 26% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.1/30.0
• 1% rule +6.0/10.0
• DSCR +3.9/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Easy one-floor living! First floor laundry. Open floor plan. 2 or 3 bedroom Ranch on quiet lot next to neighborhood walking path. Convenient to shopping, park, expressways but feels like the country.

Key facts

• Wood stove
• Formal dining room
• Brick surround

Tags

• OPEN-CONCEPT LAYOUT
• HARDWOOD FLOORS
• WOOD STOVE
• BRICK SURROUND
• FORMAL DINING ROOM
• EAT-IN KITCHEN

Property features AI

Exterior

• Parking: Attached garage; Driveway; 1-car garage
• Utilities: Cable available; High-speed internet available; Electricity available and connected with circuit breakers; Public water connected; Sewer connected
• Home design: Single-story; Existing construction
• Construction: Aluminum siding; Asphalt architectural shingle roof; Block foundation; Built previously (existing)
• Exterior features: Blacktop driveway; Gravel driveway; Shed(s) / storage; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: 2 main-level bedrooms; Main level primary bedroom
• Flooring: Hardwood; Laminate; Varies
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Separate/formal dining room; Eat-in kitchen; Home office; Basement finished
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-6 ($-76/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (0.6% below list).
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $179k (0.6% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 67/100 on livability (#582 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+; Watch: amenities F, commute F.
• Gates-Chili Central School District (suburban): math 41% / reading 42% proficiency, ranked #491 of 590 in NY (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 127 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,169 units permitted in Monroe County in 2024 (591 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 $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.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 12y 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 $83k; list at $180k implies a 117% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $178,775 (0.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.10% ✓
• Cap rate: 6.25%
• Cash-on-cash: -0.15%
• DSCR: 0.99
• GRM: 7.6

CMA / ARV

• ARV (median comp): $242,392
• List price: $179,900
• Delta: -25.78%
• 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
134 Arrowhead Dr	0.22mi	4/1.5 (+1)	1,440 (+3%)	3mo	$240,000	$167	78
140 Lettington Ave	0.36mi	4/1.5 (+1)	1,368 (-3%)	3mo	$240,000	$175	71
36 Walbert Dr	0.60mi	3/1.5	1,392 (-1%)	4mo	$305,000	$219	67
45 Cheshire Ln	0.56mi	3/1.5	1,458 (+4%)	0mo	$354,000	$243	67
274 Hinchey Rd	0.40mi	3/1.0	1,328 (-5%)	6mo	$169,900	$128	65
69 Cheshire Ln	0.63mi	3/1.5	1,386 (-1%)	7mo	$250,000	$180	63
90 Caroline Dr	0.68mi	3/1.5	1,453 (+4%)	5mo	$220,000	$151	58
122 Fisher Rd	0.72mi	3/1.5	1,428 (+2%)	7mo	$226,000	$158	58
107 Burben Way	0.62mi	2/2.0 (-1)	1,360 (-3%)	3mo	$114,000	$84	57
19 Ingram Dr	0.58mi	3/1.5	1,290 (-8%)	4mo	$220,000	$171	56
26 Merrydale Dr	0.55mi	4/2.0 (+1)	1,305 (-7%)	1mo	$250,000	$192	55
51 Caroline Dr	0.67mi	4/1.5 (+1)	1,512 (+8%)	1mo	$225,000	$149	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.4%
• Equity multiple: 0.42×
• Total profit: $-29,326
• Equity at exit: $26,824

10-year hold

• IRR: -7.9%
• Equity multiple: 0.50×
• Total profit: $-25,121
• Equity at exit: $15,554

Cash invested: $50,372 (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 14624

• Active inventory: 127
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,980 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$552 /mo · $6,622/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $-6

Break-even live

Break-even rent $1,988

Max offer price $178,775

Occupancy floor 95%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
254 Fisher Rd Rochester, NY	2.0	1.0	1100	$2,250	$2.05	44d	1	1.03mi
266 Fisher Rd Rochester, NY	2.0	2.0	1100	$1,800	$1.64	44d	1	1.09mi
32 Stanton St Rochester, NY	3.0	1.0	1390	$1,500	$1.08	10d	1	1.45mi

Listing history 5 events

1. 2026-05-13
   listed $179,900 Active 1211-char remark
2. 2014-12-09
   soldstatus $83,000
3. 2014-12-08
   soldstatus $83,000 199-char remark

   Show marketing remark (199 chars)

   Easy one-floor living! First floor laundry. Open floor plan. 2 or 3 bedroom Ranch on quiet lot next to neighborhood walking path. Convenient to shopping, park, expressways but feels like the country.

4. 2014-07-07
   listed $89,995 199-char remark

   Show marketing remark (199 chars)

   Easy one-floor living! First floor laundry. Open floor plan. 2 or 3 bedroom Ranch on quiet lot next to neighborhood walking path. Convenient to shopping, park, expressways but feels like the country.

5. 1999-04-07
   soldstatus $78,000

ⓘ 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: $6,622 · $552/mo
• Projected year-2 tax: $6,622 · $552/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $23,755
• − Mortgage interest: −$10,077
• − Property taxes: −$6,622
• − Insurance: −$900
• − Repairs & maintenance: −$1,900
• − Management: −$1,900
• − Depreciation: −$5,233
• Taxable loss: −$2,878
• Est. tax savings @ 24.0%: +$691
• After-tax cash flow: $614/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: Gates-Chili Central School District
• NCES district ID: 3611880
• Math proficiency: 41% ▼ -12.00%
• Reading proficiency: 42% ▼ -6.00%
• Median HH income: $55,045
• Composite: 36.23/100
• National rank: #4719
• State rank: #491 of 590 in NY

Livability — Gates

• Score: 67/100
• State rank: #582
• US rank: #10531

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Monroe County · 674,131 people
• Metro: Rochester, NY
• Population (ZIP): 38,626
• Household income: $87,989
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 584.0

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 9% Hispanic / Latino 6% Two or more races 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 6% Iranian 2% Lithuanian 2%
• Foreign-born: 7% · Canada, China, India
• Languages at home: 90% English-only · Spanish 3% Other Indo-European 3% 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: ▼ -151.26%
• Current HPI: 267.356
• Rent YoY: —
• 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

+130.6% since first listed

6 events — show timeline

• 2026-05-20 Pending — UNYREIS
• 2026-05-13 Listed $179,900 UNYREIS
• 2014-12-09 Sold (Public Records) $83,000 Public Records
• 2014-12-08 Sold (MLS) $83,000 UNYREIS
• 2014-07-07 Listed $89,995 UNYREIS
• 1999-04-07 Sold (Public Records) $78,000 Public Records

Property tax history

+18.9%/yr

Latest (2025): $6,622 · +30.8% YoY. Source: county tax records.