555 S Exchange St · Geneva, NY 14456

$179,900

6 bd · None ba · 9,796 sqft · MultiFamily · 47 Days on market

Built 1900 2,880 sqft lot $18/sqft · 75% below area

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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
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Commercial opportunity located at 555 S Exchange St in the City of Geneva, in the heart of the Finger Lakes. This mixed-use property features 6 apartments and 1 commercial storefront in a prime downtown location with Seneca Lake views. Positioned in an area with strong visibility and proximity to local shops, dining, and waterfront attractions, this property offers significant upside potential for the right investor. The building is in need of structural repair and is being sold as is, where is. Buyer due diligence is essential; there is no engineer’s report available. Interested parties are encouraged to contact the City of Geneva Code Enforcement Office for additional information regarding the property’s condition and requirements. A unique opportunity to restore and add value in a desirable and growing market.

Key facts

• 2,880 sq ft lot
• 3 parking spots
• Community pool

What this means for you Summary

Snapshot

• This is a 6-bed/?-bath multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $5k ($56k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $180k).
• Recommended offer: $175k (3.0% below list) — sets the bar for market timing.
• Cap rate 37.3% vs local median 5.0% in Geneva — 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 78/100 on livability (#177 in NY, #2,760 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime D+, employment D.
• Geneva City School District (town): math 36% / reading 43% proficiency, ranked #528 of 590 in NY (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 123 active listings in the ZIP; 284 units permitted in Ontario County in 2024 (69 in 5+ unit buildings).

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.
• Ontario 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 $50k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $174,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 4.15% ✓
• Cap rate: 37.35%
• Cash-on-cash: 110.91%
• DSCR: 5.93
• GRM: 2.0

CMA / ARV

• ARV (median comp): $715,730
• List price: $179,900
• Delta: -74.86%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
148-150 Castle St #148	0.20mi	6/—	10,240 (+4%)	16mo	$595,000	$58	70

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: —
• Equity multiple: 6.31×
• Total profit: $267,484
• Equity at exit: $26,824

10-year hold

• IRR: —
• Equity multiple: 13.21×
• Total profit: $615,199
• 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 14456

• Home prices YoY: -15.8%
• Active inventory: 123
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $7,467 medium
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,568
• Net cashflow: $4,656

Break-even live

Break-even rent $1,574

Max offer price $179,900

Occupancy floor 33%

Sensitivity live

Price	-10% $4,780	-5% $4,718	+0% $4,656	+5% $4,594	+10% $4,531
Rent	-10% $4,066	-5% $4,361	+0% $4,656	+5% $4,951	+10% $5,246
Rate	-1.0pp $4,746	-0.5pp $4,701	base $4,656	+0.5pp $4,609	+1.0pp $4,562

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

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$7,464
Total (6 units)			$7,467

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: —

Listing history 17 events

1. 2026-06-21
   days on market $179,900 Active 47 DOM
2. 2026-06-21
   days on market $179,900 Active 46 DOM
3. 2026-06-18
   days on market $179,900 Active 44 DOM
4. 2026-06-17
   days on market $179,900 Active 43 DOM
5. 2026-06-16
   days on market $179,900 Active 42 DOM
6. 2026-06-15
   days on market $179,900 Active 41 DOM
7. 2026-06-13
   days on market $179,900 Active 39 DOM
8. 2026-06-12
   days on market $179,900 Active 38 DOM
9. 2026-06-09
   days on market $179,900 Active 35 DOM
10. 2026-06-08
    days on market $179,900 Active 34 DOM
11. 2026-06-07
    days on market $179,900 Active 33 DOM
12. 2026-06-07
    days on market $179,900 Active 32 DOM
13. 2026-06-04
    days on market $179,900 Active 29 DOM
14. 2026-06-02
    days on market $179,900 Active 28 DOM
15. 2026-06-01
    days on market $179,900 Active 27 DOM
16. 2026-05-31
    days on market $179,900 Active 26 DOM
17. 2026-05-05
    listed $179,900 Active 836-char remark

    Show marketing remark (836 chars)

    Commercial opportunity located at 555 S Exchange St in the City of Geneva, in the heart of the Finger Lakes. This mixed-use property features 6 apartments and 1 commercial storefront in a prime downtown location with Seneca Lake views. Positioned in an area with strong visibility and proximity to local shops, dining, and waterfront attractions, this property offers significant upside potential for the right investor. The building is in need of structural repair and is being sold as is, where is. Buyer due diligence is essential; there is no engineer’s report available. Interested parties are encouraged to contact the City of Geneva Code Enforcement Office for additional information regarding the property’s condition and requirements. A unique opportunity to restore and add value in a desirable and growing market.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $89,604
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$7,168
• − Management: −$7,168
• − Depreciation: −$5,233
• Taxable income: $56,359
• Est. tax owed @ 24.0%: −$13,526
• After-tax cash flow: $42,342/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: Geneva City School District
• NCES district ID: 3611970
• Math proficiency: 36% ▲ 3.00%
• Reading proficiency: 43% ▲ 11.00%
• Median HH income: $44,012
• Composite: 33.48/100
• National rank: #5448
• State rank: #528 of 590 in NY

Livability — Geneva

• Score: 78/100
• State rank: #177
• US rank: #2760

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Geneva, NY
• Population (ZIP): 19,864

Population outlook (Ontario County) Hauer SSP2

• Today (2025): 111,230 people
• By 2030: 111,401 · +0.2%
• By 2040: 109,535 · -1.5%
• By 2050: 104,895 · -5.7%
• By 2075: 92,999 · -16.4%
• By 2100: 73,723 · -33.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 13% Two or more races 7% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9%
• Common ancestry: Iranian 5% Slovak 3% Italian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 2% German/W. Germanic 1%

Political lean MEDSL · Ontario

• 2024 margin: Toss-up / Even · D 49.4% · R 50.6%
• 2008→2024 swing: -1.0pp toward R · 2008: -0.1pp · 2024: -1.2pp
• All cycles: 2024: R+1.2 2020: R+0.0 2016: R+8.6 2012: R+1.6 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -57.56%
• Current HPI: 307.9168
• 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

1 event — show timeline

• 2026-05-05 Listed $179,900 UNYREIS