44 Wabash St · Rochester, NY 14609

$84,900

3 bd · 1.5 ba · 1,288 sqft · SingleFamily public records · 6 Days on market

Built 1900 4,400 sqft lot

---

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
• 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

Listing remarks

This 3 bedroom home offers solid potential for investors or owner occupants looking to build equity. Featuring over 1,200 sq ft of living space, this property is ready for your vision and updates.

Key facts

• 4,400 sq ft lot
• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $840 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Cap rate 18.2% vs local median 9.3% in Rochester — 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 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: schools D+, 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.
• Market conditions: Rents rising fast (+7.9%/yr); 199 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 32% 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 $587 of loan paydown is wiped out by about $3k 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 $24k cash investment doubles in ~3 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 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,900

Questions for the listing agent

1. Built in 1900 — 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 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: 2.04% ✓
• Cap rate: 18.17%
• Cash-on-cash: 42.41%
• DSCR: 2.89
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $175,168
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
865 N Goodman St	0.04mi	4/1.5 (+1)	1,245 (-3%)	2mo	$76,000	$61	86
147 5th St	0.19mi	4/1.0 (+1)	1,289 (+0%)	3mo	$150,000	$116	82
144 Peck St	0.41mi	3/1.5	1,264 (-2%)	0mo	$173,000	$137	77
157 Cummings St	0.45mi	3/2.0	1,272 (-1%)	2mo	$250,000	$197	73
155 3rd St	0.30mi	4/1.0 (+1)	1,392 (+8%)	2mo	$67,500	$48	64
1015 N Goodman St	0.25mi	3/1.0	1,126 (-13%)	3mo	$135,000	$120	63
281 Ellison St	0.49mi	4/3.0 (+1)	1,350 (+5%)	0mo	$184,000	$136	58
163 Winterroth St	0.38mi	4/1.0 (+1)	1,410 (+10%)	2mo	$100,000	$71	57
1824 Clifford Ave	0.58mi	3/1.0	1,188 (-8%)	2mo	$62,500	$53	56
227 Newcomb St	0.75mi	3/2.0	1,372 (+6%)	1mo	$225,000	$164	52
201 Arbutus St	0.73mi	4/1.5 (+1)	1,180 (-8%)	0mo	$210,000	$178	47
82 Willmont St	0.67mi	2/1.0 (-1)	1,100 (-15%)	1mo	$155,000	$141	36

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: 44.4%
• Equity multiple: 3.05×
• Total profit: $48,669
• Equity at exit: $12,659

10-year hold

• IRR: 52.4%
• Equity multiple: 7.38×
• Total profit: $151,784
• Equity at exit: $7,341

Cash invested: $23,772 (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: 199
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,730 high
• Mortgage (P&I): −$445
• Tax from tax record: −$46 /mo · $548/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $840

Break-even live

Break-even rent $666

Max offer price $84,900

Occupancy floor 46%

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
52 Frances St Rochester, NY	4.0	1.0	1256	$1,595	$1.27	43d	1	0.15mi
147 5th St Rochester, NY	4.0	1.0	1289	$1,950	$1.51	21d	1	0.20mi
86-88 Baycliff Dr Unit 86 Rochester, NY	2.0	1.0	900	$1,030	$1.14	21d	1	0.31mi
126 Parsells Ave Rochester, NY	3.0	1.0	1574	$1,800	$1.14	43d	1	0.36mi
126 Parsells Ave Rochester, NY	3.0	1.0	1574	$1,800	$1.14	21d	1	0.36mi
47 Priscilla St Rochester, NY	4.0	1.5	1250	$1,900	$1.52	21d	1	0.37mi
222 Ellison St Rochester, NY	2.0	1.0	971	$1,000	$1.03	13d	1	0.41mi
195 Parsells Ave Rochester, NY	4.0	1.0	1413	$1,265	$0.90	3d	1	0.45mi
1890 Clifford Ave Rochester, NY	3.0	1.0	936	$1,800	$1.92	23d	1	0.62mi
25 Trust St Rochester, NY	3.0	1.5	1003	$1,600	$1.60	3d	1	0.66mi
459-461 Parsells Ave Rochester, NY	2.0	1.0	1053	$1,450	$1.38	23d	1	0.75mi
207 Lux St Rochester, NY	4.0	1.5	1728	$2,150	$1.24	10d	1	0.81mi
127 Carter St #125 Rochester, NY	2.0	1.0	1320	$1,400	$1.06	43d	1	0.82mi
811 Portland Ave Rochester, NY	2.0	1.0	1616	$1,300	$0.80	14d	1	0.85mi
420 Rosewood Ter Rochester, NY	3.0	1.0	1246	$1,300	$1.04	3d	1	0.85mi
326 Northland Ave Rochester, NY	3.0	1.0	1168	$1,500	$1.28	2d	1	0.90mi
1159 Culver Rd Unit A2 UP Rochester, NY	3.0	1.0	1313	$1,500	$1.14	43d	1	0.90mi
395 Alexander St Unit UN12 Rochester, NY	2.0	1.5	1226	$2,200	$1.79	14d	1	1.02mi
108 Bowman St Unit 1 Rochester, NY	3.0	1.0	1200	$1,600	$1.33	43d	1	1.02mi
733 University Ave #3 Rochester, NY	3.0	1.5	1400	$1,850	$1.32	43d	1	1.04mi
21 Rundel Park Unit 2 Rochester, NY	2.0	1.0	1250	$2,099	$1.68	18d	1	1.07mi
182 Laurelton Rd Unit 182 Rochester, NY	2.0	1.5	1000	$1,600	$1.60	10d	1	1.07mi
176 Roycroft Dr Rochester, NY	3.0	1.0	1169	$950	$0.81	10d	1	1.08mi
171 Mohawk St Rochester, NY	3.0	2.0	1054	$1,775	$1.68	43d	1	1.09mi
933 University Ave Rochester, NY	1.0–2.0	1.0–2.0	1295	$3,815	$2.94	2d	12	1.13mi
— Rochester, NY	2.0	1.0	896	$1,100	$1.23	13d	1	1.14mi
474 East Ave Rochester, NY	1.0–2.0	1.0–2.0	1125	$2,800	$2.49	23d	1	1.20mi
1079 Garson Ave Rochester, NY	3.0	1.5	1273	$2,100	$1.65	10d	1	1.24mi
152 Gibbs St Rochester, NY	1.0–2.0	1.0	950	$1,875	$1.97	13d	3	1.27mi
322 Wisconsin St Rochester, NY	2.0	1.0	1100	$1,200	$1.09	21d	1	1.28mi
128 Gibbs St Unit 136 Rochester, NY	2.0	1.0	900	$1,795	$1.99	10d	1	1.30mi
128 Gibbs St Unit 130 Rochester, NY	2.0	1.0	1000	$1,875	$1.88	10d	1	1.30mi
200 East Ave Rochester, NY	1.0–2.0	1.0–2.5	936	$2,481	$2.65	43d	1	1.30mi
15 Vick Park B Unit A Rochester, NY	2.0	1.5	1616	$2,350	$1.45	23d	1	1.31mi
36 Charwood Cir Irondequoit, NY	1.0–2.0	1.0–1.5	930	$2,005	$2.16	2d	9	1.32mi
36 Charwood Cir Irondequoit, NY	2.0	1.0–1.5	1000	$1,675	$1.68	43d	3	1.32mi
100 Fairbanks St Rochester, NY	2.0	1.0	1456	$1,100	$0.76	44d	1	1.34mi
59 Clark Ave Rochester, NY	4.0	1.0	1728	$1,800	$1.04	2d	1	1.34mi
21 Arnold Park Rochester, NY	2.0	1.0	750	$1,425	$1.90	2d	15	1.40mi
260 Oxford St Unit UP Rochester, NY	2.0	1.0	1850	$2,600	$1.41	43d	1	1.41mi

Listing history 4 events

1. 2026-04-23
   status Pending
2. 2026-04-16
   listed $84,900 Active
3. 2026-03-06
   historical $1,650
4. 2026-02-03
   listed $1,650

ⓘ 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: $548 · $46/mo
• Projected year-2 tax: $992 · $83/mo
• Expected delta: +$443/yr (+$37/mo · 80.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% 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: $20,756
• − Mortgage interest: −$4,756
• − Property taxes: −$548
• − Insurance: −$424
• − Repairs & maintenance: −$1,660
• − Management: −$1,660
• − Depreciation: −$2,470
• Taxable income: $9,236
• Est. tax owed @ 24.0%: −$2,217
• After-tax cash flow: $7,865/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

+5045.5% since first listed

4 events — show timeline

• 2026-04-23 Pending — CNYIS
• 2026-04-16 Listed $84,900 CNYIS
• 2026-03-06 Rental Removed $1,650 TURBOTENANT
• 2026-02-03 Listed for Rent $1,650 TURBOTENANT

Property tax history

+0.9%/yr

Latest (2025): $548 · +0.0% YoY. Source: county tax records.