58 Landsdowne Ln

St. John Fisher College, NY 14618

$399,900D

4 bd · 2.5 ba · 2,567 sqft · Built 1960 · SingleFamily · Pending · 25 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,723/mo
• Mortgage (P&I): −$2,097
• Tax + insurance: −$1,065
• HOA: −$0
• Vac / Maint / Mgmt: −$782
• Net cashflow: $-221/mo
• Annual: $-2,647/yr
• Cap rate: 5.63%
• Cash-on-cash: -2.36%
• DSCR: 0.89
• 1% rule: 0.93%
• Cash to close: $111,972

Investor read

• This is a 4-bed/2.5-bath single-family listed at $400k.
• At list price, monthly cash flow is $-221 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $361k (9.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $372k (6.9% below list).
• It's been on market 25 days — a 2% lower offer ($394k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $361k (9.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• East Rochester Union Free School District (suburban): math 50% / reading 51% proficiency, ranked #371 of 590 in NY (top 63%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: East Rochester Elementary School (math 42% / reading 57%, grade D, #1,085 of 2,108 statewide, top 56%, 458 students, 48% FRL); East Rochester Junior-Senior High School (math 57% / reading 47%, grade D+, #946 of 1,100 statewide, top 88%, 515 students, 51% FRL).
• Watch-outs: property tax is 2.7% of price.
• Market conditions: 116 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• Monroe County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Cap rate 5.6% vs local median 16.6% in St. John Fisher College — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• This rent runs 36% of the median local income ($125k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 1960 — 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.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.