23 Costar St · Rochester, NY 14608

$75,000

4 bd · 1.5 ba · 1,773 sqft · SingleFamily · 12 Days on market

Built 1900 Poor condition 6,098 sqft 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
• Appreciation +6.8/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Schools +1.9/10.0
• Condition / age +1.0/5.0

Listing remarks

NO INTERIOR ACCESS ALLOW PRIOR TO CLOSING. Photos supplied are from the seller and were taken mid-May. Home is boarded. Seller has never occupied the property. Property to be sold as-is, cash or equivalent only. Any garbage/contents at the property will remain. No seller financing. Seller will not accept a contract subject to any unresolved contingencies (inspection, financing, etc. ) except attorney approval.

Key facts

• 6,098 sq ft lot
• Built 1900
• Listed 12 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water (connected); Sewer connected
• Home design: Two-story property; Existing construction
• Construction: Composite siding; Asphalt roof; Block foundation
• Exterior features: See remarks; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Vinyl; 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; Bedroom on main level; Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $75k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $842 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• 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 (+6.6%/yr); 51 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $1,721/mo this rent would consume 51% of the median local household income ($41k/yr) (locally 1300% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $3k of equity ($519 loan paydown + $3k appreciation (3.7% local appreciation)).
• Monroe County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.7% appreciation + 6.6% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y 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.

Risks & watch-outs

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

Recommended offer $75,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 2.30% ✓
• Cap rate: 19.76%
• Cash-on-cash: 48.09%
• DSCR: 3.14
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $163,116
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 Emerson St	0.44mi	4/1.5	1,725 (-3%)	4mo	$65,000	$38	72
288 Emerson St	0.43mi	4/2.0	1,688 (-5%)	9mo	$185,000	$110	62
134 Cameron St	0.40mi	4/2.5	1,645 (-7%)	7mo	$50,000	$30	60
163 Ravine Ave	0.42mi	4/1.0	1,622 (-8%)	8mo	$78,000	$48	58
371 Glenwood Ave	0.67mi	4/2.0	1,830 (+3%)	5mo	$168,000	$92	58
170 Otis St	0.60mi	5/3.0 (+1)	1,830 (+3%)	0mo	$190,000	$104	55
320 Ravine Ave	0.54mi	4/2.0	1,923 (+8%)	6mo	$140,000	$73	54
79 Avenue B	0.74mi	4/2.0	1,922 (+8%)	2mo	$165,000	$86	48
515 Emerson St	0.69mi	4/1.5	1,536 (-13%)	4mo	$129,900	$85	43
33 Wolff St	0.71mi	5/2.0 (+1)	1,630 (-8%)	5mo	$175,000	$107	42
62 Curtis St	0.58mi	3/1.0 (-1)	1,566 (-12%)	5mo	$155,000	$99	42
33 Brooklyn St	0.73mi	3/1.5 (-1)	1,609 (-9%)	6mo	$160,000	$99	41

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

Projected returns pro-forma

3.69% appreciation · 6.61% rent growth · sell at horizon

5-year hold

• IRR: 57.4%
• Equity multiple: 4.42×
• Total profit: $71,917
• Equity at exit: $36,679

10-year hold

• IRR: 57.9%
• Equity multiple: 9.99×
• Total profit: $188,825
• Equity at exit: $58,941

Cash invested: $21,000 (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 14608

• Home prices YoY: 1.3%
• Rents YoY: 6.6%
• Active inventory: 51
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,721 high
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $842

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 46%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
327 Glenwood Ave Rochester, NY	3.0	1.0	2012	$1,690	$0.84	3d	1	0.62mi
2 Jay St Unit 2 Rochester, NY	3.0	1.0	1252	$1,045	$0.83	43d	1	0.66mi
649 Jay St Rochester, NY	5.0	2.0	2144	$2,000	$0.93	3d	1	0.74mi
28-30 Carthage Dr Unit 28 Rochester, NY	3.0	1.0	1415	$1,600	$1.13	23d	1	0.75mi
98 Pierpont St Rochester, NY	3.0	1.0	1973	$1,295	$0.66	43d	1	0.88mi
385 Ames St Rochester, NY	3.0	1.5	1738	$1,500	$0.86	21d	1	0.98mi
1016 Lake Ave Unit 1 Rochester, NY	3.0	1.0	1300	$1,600	$1.23	43d	1	1.05mi
108 Wetmore Park Rochester, NY	3.0	2.0	1278	$1,900	$1.49	10d	1	1.35mi
478 Tremont St Rochester, NY	3.0	2.0	1424	$1,500	$1.05	43d	1	1.46mi

Listing history 7 events

1. 2026-06-09
   statusdays on market $75,000 Pending 12 DOM
2. 2026-06-07
   days on market $75,000 Active 11 DOM
3. 2026-06-05
   days on market $75,000 Active 8 DOM
4. 2026-06-03
   days on market $75,000 Active 7 DOM
5. 2026-06-03
   days on market $75,000 Active 6 DOM
6. 2026-06-02
   remarks 413-char remark
7. 2026-06-02
   listed $75,000 Active 5 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,656
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,652
• − Management: −$1,652
• − Depreciation: −$2,182
• Taxable income: $9,468
• Est. tax owed @ 24.0%: −$2,272
• After-tax cash flow: $7,826/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This property requires extensive repairs and improvements to be marketable. Immediate focus should be on removing the board-ups and addressing the structural issues to ensure safety and security for potential buyers.

Repairs flagged

• Major Boarded up windows — Structural damage or security issue
• Major Boarded up siding — Structural damage or security issue

Value-add opportunities

• Both Board up removal and repair — Safety and security for potential buyers
• Both Landscaping and curb appeal improvements — Enhances property's visual appeal and marketability

Renovation cost estimate screening

Repair item	Severity	Est. cost
Boarded up windows · Structural damage or security issue	Major	$15,000–50,000
Boarded up siding · Structural damage or security issue	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Board up removal and repair — Safety and security for potential buyers ↑
• Both Landscaping and curb appeal improvements — Enhances property's visual appeal and marketability ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 12,792
• Household income: $40,646
• Rent vs Own: 78.0% rent · 22.0% own
• Severe rent burden: 1300.0

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 0.67)
• Race & ethnicity: Black 50% White 25% Two or more races 13% Hispanic / Latino 12% Asian 4%
• Hispanic origin (detail): Puerto Rican 10%
• Common ancestry: Lithuanian 1% Romanian 1% Iranian 1%
• Foreign-born: 8% · Canada, India
• Languages at home: 85% English-only · Spanish 8% Other Indo-European 3% French/Haitian/Cajun 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: ▲ 3.69%
• Current HPI: 280.2411
• Rent YoY: ▲ 6.61%
• 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

+67.0% since first listed

4 events — show timeline

• 2026-05-27 Listed $75,000 UNYREIS
• 2022-12-14 Listing Removed — UNYREIS
• 2022-12-07 Listed $130,000 UNYREIS
• 2015-07-28 Listed $44,900 UNYREIS