5380 W Ridge Rd · Spencerport, NY 14559

$300,000

5 bd · 3.0 ba · 1,720 sqft · MultiFamily public records · 67 Days on market

Built 1968 0.50 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 +5.1/10.0
• Livability +3.8/5.0
• 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

Spacious 3-unit multi-family opportunity in the suburbs within Spencerport Schools, set on a half-acre lot backing to woods for added privacy! Two upper units include a 1-bedroom/1-bath and a 2-bedroom/1-bath, both featuring open layouts. The lower level offers an additional 2-bedroom/1-bath unit (note: square footage does not include lower level). Property features include a newer septic system (approx. 2 years), public water, and a tear-off roof (2018). All units have separate gas and electric meters. Forced air furnace (approx. 2018) services upper units; lower unit has baseboard heat. Hot water heaters: upper units (2018) and lower unit (2025). Additional highlights include vinyl siding

Key facts

• Half-acre lot
• Newer septic system
• Tear-off roof

Tags

• MULTI-FAMILY OPPORTUNITY
• HALF-ACRE LOT
• BACKING TO WOODS
• NEWER SEPTIC SYSTEM
• PUBLIC WATER
• TEAR-OFF ROOF

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $747/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $300k).
• Recommended offer: $282k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.3% vs local median 3.2% in Spencerport — 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 (#237 in NY, #3,718 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A, crime B+; Watch: amenities F, commute F.
• Spencerport Central School District (suburban): math 52% / reading 63% proficiency, ranked #248 of 590 in NY (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 73 active listings in the ZIP; solid renter incomes; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $6,158/mo this rent would consume 78% of the median local household income ($95k/yr) (locally 220% 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 + 3.0% 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 67 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $25k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $300k implies a 362% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price.

Recommended offer $282,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% 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 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 2.05% ✓
• Cap rate: 15.26%
• Cash-on-cash: 32.03%
• DSCR: 2.42
• GRM: 4.1

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: 27.1%
• Equity multiple: 2.13×
• Total profit: $94,602
• Equity at exit: $44,731

10-year hold

• IRR: 34.7%
• Equity multiple: 4.19×
• Total profit: $267,986
• Equity at exit: $25,939

Cash invested: $84,000 (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 14559

• Home prices YoY: -31.7%
• Active inventory: 73
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $6,158 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$925 /mo · $11,097/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,293
• Net cashflow: $2,242

Break-even live

Break-even rent $3,320

Max offer price $300,000

Occupancy floor 59%

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$6,159
Total (3 units)			$6,158

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-05
   status Pending
2. 2026-04-16
   historical Active Under Contract
3. 2026-03-09
   price $300,000
4. 2026-02-27
   listed $325,000 Active
5. 2018-11-02
   soldstatus $65,000 Closed Sale or Rented
6. 2018-11-01
   soldstatus $65,000
7. 2018-04-06
   status Pending Sale
8. 2018-04-06
   listed $69,000 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: $11,097 · $925/mo
• Projected year-2 tax: $11,097 · $925/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 2/10 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $73,896
• − Mortgage interest: −$16,805
• − Property taxes: −$11,097
• − Insurance: −$1,500
• − Repairs & maintenance: −$5,912
• − Management: −$5,912
• − Depreciation: −$8,727
• Taxable income: $23,944
• Est. tax owed @ 24.0%: −$5,747
• After-tax cash flow: $21,156/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: Spencerport Central School District
• NCES district ID: 3627780
• Math proficiency: 52% ▼ -15.00%
• Reading proficiency: 63% ▲ 8.00%
• Median HH income: $66,920
• Composite: 50.58/100
• National rank: #1846
• State rank: #248 of 590 in NY

Livability — Spencerport

• Score: 76/100
• State rank: #237
• US rank: #3718

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Monroe County · 674,131 people
• City population: 17,200
• Metro: Rochester, NY
• Population (ZIP): 17,200
• Household income: $94,794
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 220.0

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 (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 2% Black 1%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Russian/Polish/Slavic 2% 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: ▼ -121.06%
• Current HPI: 260.3489
• 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

+334.8% since first listed

8 events — show timeline

• 2026-05-05 Pending — UNYREIS
• 2026-04-16 Contingent — UNYREIS
• 2026-03-09 Price Changed $300,000 UNYREIS
• 2026-02-27 Listed $325,000 UNYREIS
• 2018-11-02 Sold (MLS) $65,000 UNYREIS
• 2018-11-01 Sold (Public Records) $65,000 Public Records
• 2018-04-06 Pending — UNYREIS
• 2018-04-06 Listed $69,000 UNYREIS

Property tax history

+7.4%/yr

Latest (2025): $11,097 · -1.1% YoY. Source: county tax records.