276 Parsells Ave · Rochester, NY 14609

$179,900

4 bd · 2.0 ba · 2,227 sqft · MultiFamily public records · 13 Days on market

Built 1925 6,320 sqft lot $81/sqft · at area comps Est $179k · at est.

---

Why this score? — see what drove the C 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 +25.5/30.0
• DSCR +8.4/10.0
• ARV discount +7.3/15.0
• 1% rule +5.6/10.0
• Rent growth +4.5/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

This spacious home offers an ideal opportunity for comfortable, modern living. Ideal open-concept layout, where a welcoming foyer provides an immediate sense of home, flowing seamlessly into the expansive living room and formal dining room with a timeless brick accent and bay window. The bright, updated kitchen is a highlight, featuring abundant cabinetry, and a stunning full tile backsplash. Four well-proportioned bedrooms and two beautifully updated full bathrooms. Completing this exceptional turnkey package is the large backyard, offering a perfect space for outdoor enjoyment! Some of the other updates of this home include: New Kitchen Cabinetry; New Vinyl Windows; New Basement Bloc

Key facts

• Formal dining room
• Welcoming foyer
• Bay window

Tags

• OPEN-CONCEPT LAYOUT
• WELCOMING FOYER
• EXPANSIVE LIVING ROOM
• FORMAL DINING ROOM
• BRICK ACCENT
• BAY WINDOW

Property features AI

Finance

• Other: Near public transit; Rectangular residential lot with city street frontage; Lot dimensions 40 x 158

Exterior

• Parking: No garage; Shared driveway
• Utilities: Public water (connected); Sewer connected; Circuit breaker electric service
• Home design: 2 stories; Existing construction
• Construction: Cedar siding; Composite siding; Wood siding; Architectural shingle roof; Shingle roof; Block foundation; Copper and PEX plumbing
• Exterior features: Blacktop driveway; Partial fencing; Fence; Covered porch

Interior

• Kitchen: Microwave
• Bedrooms: 8 total rooms (includes living spaces and laundry)
• Flooring: Hardwood; Luxury vinyl; Varies
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Gas heating; Forced air heating
• Interior features: Separate formal dining room; Entrance foyer; Eat-in kitchen; Separate formal living room; Natural woodwork; Leaded glass windows; Storm windows; Thermal windows
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $417 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).

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: 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.
• Zoned schools: School 33-John James Audubon (math 2% / reading 17%, grade F, #2,075 of 2,108 statewide, top 99%, 963 students, 93% FRL); East Lower School (math 2% / reading 22%, grade F, #715 of 729 statewide, top 98%, 304 students, 86% FRL); Edison Career And Technology High School (math 44% / reading 50%, grade D-, #1,007 of 1,100 statewide, top 93%, 1,233 students, 91% FRL).
• Market conditions: Rents rising fast (+7.9%/yr); 200 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• This rent runs 35% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 7.9% rent growth), your $50k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 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 $180k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $179,900

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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 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: 1.06% ✓
• Cap rate: 9.08%
• Cash-on-cash: 9.94%
• DSCR: 1.44
• GRM: 7.9

CMA / ARV

• ARV (median comp): $179,101
• List price: $179,900
• Delta: 0.45%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
125-127 Cedarwood #125	0.23mi	4/2.0	2,384 (+7%)	6mo	$117,000	$49	72
1286 E Main St	0.43mi	5/2.0 (+1)	2,212 (-1%)	8mo	$130,000	$59	67
296 Parsells Ave	0.03mi	5/2.0 (+1)	1,904 (-14%)	4mo	$133,000	$70	66
66-68 Ackerman St	0.31mi	4/2.5	2,390 (+7%)	8mo	$88,000	$37	64
3 8th St	0.54mi	4/2.0	2,113 (-5%)	15mo	$81,500	$39	54
—	0.34mi	5/3.0 (+1)	1,962 (-12%)	6mo	$81,000	$41	50
29 Copeland St	0.27mi	4/3.0	2,495 (+12%)	16mo	$85,000	$34	50
30-32 Salisbury St	0.47mi	4/2.0	1,968 (-12%)	18mo	$180,000	$91	44
154 Breck St	0.43mi	4/3.0	1,974 (-11%)	17mo	$210,000	$106	43
992 Bay St	0.46mi	4/2.0	1,920 (-14%)	16mo	$152,000	$79	42
28 Sodus St	0.68mi	4/2.0	1,980 (-11%)	15mo	$301,000	$152	37
365 Hayward Ave	0.55mi	5/3.0 (+1)	1,990 (-11%)	15mo	$270,000	$136	35

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 · 7.89% rent growth · sell at horizon

5-year hold

• IRR: 3.5%
• Equity multiple: 1.14×
• Total profit: $7,174
• Equity at exit: $26,824

10-year hold

• IRR: 16.9%
• Equity multiple: 2.68×
• Total profit: $84,807
• Equity at exit: $15,554

Cash invested: $50,372 (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 14609

• Home prices YoY: -30.4%
• Rents YoY: 7.9%
• Active inventory: 200
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,904 high
• Mortgage (P&I): −$943
• Tax from tax record: −$68 /mo · $821/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $417

Break-even live

Break-even rent $1,376

Max offer price $179,900

Occupancy floor 73%

Sensitivity live

Price	-10% $519	-5% $468	+0% $417	+5% $366	+10% $315
Rent	-10% $267	-5% $342	+0% $417	+5% $492	+10% $567
Rate	-1.0pp $508	-0.5pp $463	base $417	+0.5pp $370	+1.0pp $323

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
195 Parsells Ave Rochester, NY	4.0	1.0	1413	$1,265	$0.90	6d	1	0.14mi
126 Parsells Ave Rochester, NY	3.0	1.0	1574	$1,800	$1.14	46d	1	0.24mi
126 Parsells Ave Rochester, NY	3.0	1.0	1574	$1,800	$1.14	24d	1	0.24mi
1786 Clifford Ave Rochester, NY	3.0	1.0	2404	$1,850	$0.77	6d	1	0.71mi
1788 Clifford Ave Rochester, NY	3.0	1.0	2404	$1,850	$0.77	5d	1	0.71mi
733 University Ave #3 Rochester, NY	3.0	1.5	1400	$1,850	$1.32	46d	1	0.97mi
1 Champeney Ter Rochester, NY	3.0	1.0	1936	$1,650	$0.85	17d	1	1.07mi
176 Merwin Ave Rochester, NY	4.0	1.5	1750	$2,200	$1.26	46d	1	1.21mi
207 Lux St Rochester, NY	4.0	1.5	1728	$2,150	$1.24	13d	1	1.27mi
256 Oxford St Unit 1 Rochester, NY	3.0	1.0	2050	$3,000	$1.46	17d	1	1.32mi
1600 East Ave Rochester, NY	3.0	1.0–2.0	944	$2,875	$3.04	5d	1	1.36mi
36 Morningside Park Rochester, NY	4.0	1.0	1446	$2,400	$1.66	6d	1	1.38mi
214 Culver Rd Apt 2 Rochester, NY	3.0	1.0	1700	$2,400	$1.41	17d	1	1.42mi
57 Calumet St Rochester, NY	3.0	3.0	2500	$2,250	$0.90	17d	1	1.46mi

Listing history 10 events

1. 2026-05-13
   listed $179,900 Active 967-char remark
2. 2024-02-16
   soldstatus $75,000
3. 2023-02-23
   historical
4. 2023-02-03
   listed $115,000 Active
5. 2022-07-31
   historical
6. 2022-06-10
   price $129,900
7. 2022-04-27
   listed $140,000 Active
8. 2015-02-03
   listed $12,000
9. 2010-06-10
   soldstatus $10,500
10. 2010-03-24
    listed $14,900

ⓘ 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: $821 · $68/mo
• Projected year-2 tax: $1,931 · $161/mo
• Expected delta: +$1,110/yr (+$92/mo · 135.2%)

ⓘ 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 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: $22,844
• − Mortgage interest: −$10,077
• − Property taxes: −$821
• − Insurance: −$900
• − Repairs & maintenance: −$1,827
• − Management: −$1,827
• − Depreciation: −$5,233
• Taxable income: $2,158
• Est. tax owed @ 24.0%: −$518
• After-tax cash flow: $4,487/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: 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): 40,274
• Household income: $64,603
• Rent vs Own: 36.1% rent · 63.9% own
• Severe rent burden: 2183.0

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 0.69)
• Race & ethnicity: White 44% Black 28% Hispanic / Latino 20% Two or more races 10% Asian 2%
• Hispanic origin (detail): Puerto Rican 15% Cuban 1% Dominican 1%
• Common ancestry: Romanian 4% Lithuanian 2% Iranian 1%
• Foreign-born: 8% · Canada
• Languages at home: 81% English-only · Spanish 14% Russian/Polish/Slavic 2% Other Indo-European 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: ▼ -143.57%
• Current HPI: 328.7053
• Rent YoY: ▲ 7.89%
• 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

+1107.4% since first listed

12 events — show timeline

• 2026-05-26 Pending — UNYREIS
• 2026-05-21 Contingent — UNYREIS
• 2026-05-13 Listed $179,900 UNYREIS
• 2024-02-16 Sold (Public Records) $75,000 Public Records
• 2023-02-23 Listing Removed — UNYREIS
• 2023-02-03 Listed $115,000 UNYREIS
• 2022-07-31 Listing Removed — UNYREIS
• 2022-06-10 Price Changed $129,900 UNYREIS
• 2022-04-27 Listed $140,000 UNYREIS
• 2015-02-03 Listed $12,000 UNYREIS
• 2010-06-10 Sold (MLS) $10,500 UNYREIS
• 2010-03-24 Listed $14,900 UNYREIS

Property tax history

+0.1%/yr

Latest (2025): $821 · -31.2% YoY. Source: county tax records.