318 Pearl St · Medina, NY 14103

$194,900

5 bd · 3.5 ba · 3,778 sqft · MultiFamily public records · 7 Days on market

Built 1910 0.26 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
• Appreciation +4.9/10.0
• Livability +3.6/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Introducing a rare and versatile 3,778 sq ft, historic 3-unit property in the heart of the Village of Medina, an exceptional opportunity for investors and owner-occupants alike. Set on a 0.26-acre lot with a large turnaround driveway and detached 3-bay garage, this property offers both convenience and curb appeal with ALL UTILITIES SEPARATE. A welcoming wraparound porch sets the tone, perfect for relaxing and enjoying the neighborhood charm. The lower unit apartment #1 offers easy first-floor living with 1 bed and a private office, perfect for remote work, a small business setup, or added tenant appeal. The upper unit apartment #2 offers 2 beds and a full bath. The main unit apartment #3 bo

Key facts

• Private office
• Grand foyer
• Wraparound porch

Tags

• HISTORIC 3 UNIT PROPERTY
• LARGE TURNAROUND DRIVEWAY
• DETACHED 3 BAY GARAGE
• WRAPAROUND PORCH
• PRIVATE OFFICE
• GRAND FOYER

What this means for you Summary

Snapshot

• This is a 2×2bd/1.2ba + 1×1bd/1.2ba units multifamily listed at $195k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $544/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $195k).
• Cap rate 16.3% vs local median 4.8% in Medina — 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 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.
• Market conditions: 57 active listings in the ZIP; 28 units permitted in Orleans County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $832 of equity ($1k loan paydown + $-515 appreciation (-0.3% local appreciation)).
• Orleans County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.3% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $194,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.10% ✓
• Cap rate: 16.34%
• Cash-on-cash: 35.89%
• DSCR: 2.60
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.3%
• Equity multiple: 2.76×
• Total profit: $96,050
• Equity at exit: $54,033

10-year hold

• IRR: 39.9%
• Equity multiple: 5.42×
• Total profit: $241,245
• Equity at exit: $62,941

Cash invested: $54,572 (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 14103

• Home prices YoY: -0.1%
• Active inventory: 57
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $4,091 medium
• Mortgage (P&I): −$1,022
• Tax from tax record: −$497 /mo · $5,960/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$859
• Net cashflow: $1,632

Break-even live

Break-even rent $2,025

Max offer price $194,900

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.2	$2,866
1× unit	1	1.2	$1,225
Total (3 units)			$4,091

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-01-31
   status Pending
2. 2026-01-23
   listed $194,900 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: $5,960 · $497/mo
• Projected year-2 tax: $5,960 · $497/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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 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: $49,092
• − Mortgage interest: −$10,917
• − Property taxes: −$5,960
• − Insurance: −$974
• − Repairs & maintenance: −$3,927
• − Management: −$3,927
• − Depreciation: −$5,670
• Taxable income: $17,716
• Est. tax owed @ 24.0%: −$4,252
• After-tax cash flow: $15,332/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: Medina Central School District
• NCES district ID: 3618960
• Math proficiency: 37% ▼ -12.00%
• Reading proficiency: 38% ▼ -6.00%
• Median HH income: $43,046
• Composite: 31.76/100
• National rank: #5901
• State rank: #548 of 590 in NY

Livability — Medina

• Score: 72/100
• State rank: #344
• US rank: #5814

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Medina, NY
• City population: 10,836
• Population (ZIP): 10,836

Population outlook (Orleans County) Hauer SSP2

• Today (2025): 39,123 people
• By 2030: 37,648 · -3.8%
• By 2040: 34,432 · -12.0%
• By 2050: 31,487 · -19.5%
• By 2075: 26,544 · -32.2%
• By 2100: 22,251 · -43.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 6% Two or more races 5% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 9% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 89% English-only · Spanish 5% German/W. Germanic 3% Chinese 1%

Political lean MEDSL · Orleans

• 2024 margin: Solid R (+40.5) · D 29.8% · R 70.2%
• 2008→2024 swing: -21.8pp toward R · 2008: -18.7pp · 2024: -40.5pp
• All cycles: 2024: R+40.5 2020: R+36.0 2016: R+43.4 2012: R+19.4 2008: R+18.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.26%
• Current HPI: 307.0342
• Rent YoY: —
• Metro: —
• 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

2 events — show timeline

• 2026-01-31 Pending — WNYREIS
• 2026-01-23 Listed $194,900 WNYREIS

Property tax history

+2.6%/yr

Latest (2025): $5,960 · +1.4% YoY. Source: county tax records.