701 Genesee St

Medina, NY 14103

$119,900C-

4 bd · 1.0 ba · 1,504 sqft · Built 1880 · SingleFamily · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,200/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$368
• HOA: −$0
• Vac / Maint / Mgmt: −$252
• Net cashflow: $-48/mo
• Annual: $-582/yr
• Cap rate: 5.81%
• Cash-on-cash: -1.73%
• DSCR: 0.92
• 1% rule: 1.00%
• Cash to close: $33,572

Investor read

• This is a 4-bed/1.0-bath single-family listed at $120k.
• At list price, monthly cash flow is $-48 ($-582/yr) — negative.
• To cash-flow at today's rent, offer at most $111k (7.1% below list).
• Meets the 1% rule at list price ($1k rent vs $120k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $111k (7.1% below list) — sets the bar for cash-flow.
• In year one you build about $512 of equity ($829 loan paydown + $-317 appreciation (-0.3% local appreciation)).
• Location reads 72/100 on livability (#344 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, amenities F, commute F.
• Medina Central School District (town): math 37% / reading 38% proficiency, ranked #548 of 590 in NY (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Clifford Wise Intermediate School (math 17% / reading 34%, grade F, #1,821 of 2,108 statewide, top 86%, 395 students, 55% FRL); Medina Junior-Senior High School (math 67% / reading 52%, grade C+, #851 of 1,100 statewide, top 80%, 614 students, 46% FRL).
• Watch-outs: property tax is 3.2% of price; built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 58 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 28 units permitted in Orleans County in 2024 (0 in 5+ unit buildings).
• Orleans County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is D 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?
• 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.
• 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.
• 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.