474 Lake Shore Boulevard Ext · Irondequoit, NY 14617

$124,900

3 bd · 1.0 ba · 948 sqft · SingleFamily public records · 6 Days on market

Built 1925 5,227 sqft lot Est $182k · 31% under

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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 +27.0/30.0
• ARV discount +15.0/15.0
• 1% rule +9.8/10.0
• DSCR +9.3/10.0
• Schools +6.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

CUTE SUMMERVILLE BUNGALOW! W IROND FOR UNDER $80,000. LOW, LOW TAXES! THIS HOME IS JUST A MINTUES WALK TO THE LAKE. HURRY, SUMMER IS JUST AROUND THE CORNER!

Key facts

• Large back deck
• Formal dining room
• Screened-in porch

Tags

• EAT-IN KITCHEN
• FORMAL DINING ROOM
• SCREENED-IN PORCH
• UNFINISHED BASEMENT
• LARGE BACK DECK
• TWO-CAR GARAGE

Property features AI

Exterior

• Parking: Attached garage; 2 garage spaces; Driveway parking
• Utilities: Public water connected; Sewer connected; Electric service with circuit breakers
• Home design: 2-story house; Existing (previously built) property; Irregular residential lot on a city street; Lot dimensions approximately 68 x 72
• Construction: Cedar and composite siding; Block foundation
• Exterior features: Blacktop driveway; Deck (including screened); Porch; Partial fencing; Shed(s)/storage

Interior

• Kitchen: Gas oven; Gas range; Microwave; Dishwasher; Refrigerator; Eat-in kitchen
• Flooring: Carpet; Ceramic tile; Hardwood; Varied flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump (cooling); Heat pump and gas heating; Hot water heating; Circuit breaker electric
• Interior features: Leaded glass windows; Sliding doors / sliding glass door(s); Separate/formal dining room; Separate/formal living room; Eat-in kitchen
• Laundry & utility: Washer and dryer; Laundry located in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $348 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 9.6% vs local median 4.5% in Irondequoit — 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 81/100 on livability (#92 in NY, #1,414 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, crime B+; Watch: amenities F.
• West Irondequoit Central School District (suburban): math 73% / reading 70% proficiency, ranked #126 of 590 in NY (top 21%) — strong family-tenant draw, lease renewals of 3-5y typical; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Irondequoit High School (math 96% / reading 64%, grade A, #509 of 1,100 statewide, top 46%, 1,163 students, 33% FRL).
• Market conditions: 104 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $864 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 16y 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 $75k; list at $125k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,900

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.48% ✓
• Cap rate: 9.64%
• Cash-on-cash: 11.94%
• DSCR: 1.53
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $182,016
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
587 Washington Ave	0.11mi	3/1.0	936 (-1%)	21mo	$120,000	$128	75
283 Pattonwood Dr	0.16mi	2/1.0 (-1)	935 (-1%)	14mo	$205,000	$219	73
306 Norcrest Dr	0.33mi	3/1.5	988 (+4%)	10mo	$190,000	$192	67
77 Parkview Ter	0.29mi	2/1.0 (-1)	880 (-7%)	3mo	$220,000	$250	67
832 Washington Ave	0.31mi	2/1.0 (-1)	1,001 (+6%)	6mo	$200,000	$200	66
18 Beach Ter	0.29mi	2/1.0 (-1)	928 (-2%)	20mo	$165,000	$178	61
388 Eaton Rd	0.19mi	2/1.5 (-1)	1,046 (+10%)	7mo	$187,000	$179	61
500 Lake Shore Boulevard Ext	0.03mi	2/1.0 (-1)	822 (-13%)	13mo	$143,000	$174	60
54 Oaklawn Dr	0.24mi	3/1.5	1,072 (+13%)	11mo	$260,000	$243	56
9 2nd St	0.51mi	2/1.0 (-1)	944 (-0%)	21mo	$142,000	$150	53
29 Centre Ter	0.37mi	2/1.0 (-1)	808 (-15%)	13mo	$165,000	$204	42
94 Shorewood Dr	0.51mi	3/1.5	1,062 (+12%)	19mo	$201,000	$189	38

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: 1.6%
• Equity multiple: 1.06×
• Total profit: $2,100
• Equity at exit: $18,623

10-year hold

• IRR: 11.3%
• Equity multiple: 1.89×
• Total profit: $31,101
• Equity at exit: $10,799

Cash invested: $34,972 (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 14617

• Active inventory: 104
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,851 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$407 /mo · $4,889/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $348

Break-even live

Break-even rent $1,411

Max offer price $124,900

Occupancy floor 76%

Sensitivity live

Price	-10% $419	-5% $383	+0% $348	+5% $313	+10% $277
Rent	-10% $202	-5% $275	+0% $348	+5% $421	+10% $494
Rate	-1.0pp $411	-0.5pp $380	base $348	+0.5pp $316	+1.0pp $283

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
123 Spanish Trl Rochester, NY	1.0–2.0	1.0–1.5	945	$1,775	$1.88	5d	1	1.10mi
3677 Lake Ave Rochester, NY	2.0	1.0	1088	$1,200	$1.10	46d	1	1.39mi

Listing history 5 events

1. 2026-05-06
   status Pending
2. 2026-04-30
   listed $124,900 Active
3. 2010-05-28
   soldstatus $74,800 156-char remark

   Show marketing remark (156 chars)

   CUTE SUMMERVILLE BUNGALOW! W IROND FOR UNDER $80,000. LOW, LOW TAXES! THIS HOME IS JUST A MINTUES WALK TO THE LAKE. HURRY, SUMMER IS JUST AROUND THE CORNER!

4. 2010-05-21
   soldstatus $74,800
5. 2010-03-19
   listed $79,900 156-char remark

   Show marketing remark (156 chars)

   CUTE SUMMERVILLE BUNGALOW! W IROND FOR UNDER $80,000. LOW, LOW TAXES! THIS HOME IS JUST A MINTUES WALK TO THE LAKE. HURRY, SUMMER IS JUST AROUND THE CORNER!

ⓘ 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: $4,889 · $407/mo
• Projected year-2 tax: $4,889 · $407/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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 16 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: $22,213
• − Mortgage interest: −$6,996
• − Property taxes: −$4,889
• − Insurance: −$624
• − Repairs & maintenance: −$1,777
• − Management: −$1,777
• − Depreciation: −$3,633
• Taxable income: $2,515
• Est. tax owed @ 24.0%: −$604
• After-tax cash flow: $3,571/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: West Irondequoit Central School District
• NCES district ID: 3615390
• Math proficiency: 73% ▲ 3.00%
• Reading proficiency: 70% ▲ 5.00%
• Median HH income: $60,218
• Composite: 61.61/100
• National rank: #748
• State rank: #126 of 590 in NY

Livability — Irondequoit

• Score: 81/100
• State rank: #92
• US rank: #1414

Category grades

Amenities F Commute C 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

• Census place: Irondequoit, NY
• County: Monroe County · 674,131 people
• City population: 74,252
• Metro: Rochester, NY
• Population (ZIP): 21,788
• Household income: $90,192
• Rent vs Own: 14.7% rent · 85.3% own
• Severe rent burden: 426.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 8% Two or more races 6% Black 4%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 6% Iranian 3% Lithuanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 4% Other Indo-European 1% 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: ▼ -148.22%
• Current HPI: 263.9973
• 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

+56.3% since first listed

5 events — show timeline

• 2026-05-06 Pending — UNYREIS
• 2026-04-30 Listed $124,900 UNYREIS
• 2010-05-28 Sold (MLS) $74,800 UNYREIS
• 2010-05-21 Sold (Public Records) $74,800 Public Records
• 2010-03-19 Listed $79,900 UNYREIS

Property tax history

+3.3%/yr

Latest (2025): $4,889 · +60.8% YoY. Source: county tax records.