303 Castle St · Geneva, NY 14456

$119,900

3 bd · 2.0 ba · 1,856 sqft · MultiFamily public records · 9 Days on market

Built 1870 4,549 sqft lot $65/sqft · 55% 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Welcome to your next owner occupied home or investment property. This up/down duplex offers excellent potential and strong numbers, making it a smart addition to any portfolio. The property does need some TLC, but with long-term, secure tenants already in place, the investment foundation is solid. Recent improvements include a newer furnace less than five years old, freshly split electric, a new upstairs bathroom, a common laundry room, and a newer roof. Conveniently located within walking distance to public transportation, downtown Geneva, Hobart and William Smith Colleges, the downtown business district, and the main commercial corridor, this fully rented property offers both stability an

Key facts

• Newer furnace
• Newer roof
• Common laundry room

Tags

• NEWER FURNACE
• NEW UPSTAIRS BATHROOM
• COMMON LAUNDRY ROOM
• NEWER ROOF

Property features AI

Finance

• Other: Two total units; Two units in community; One separate gas meter; Two separate electric meters
• Financial info: Owner pays grounds care, heat, snow removal and water; Rent includes gardener, heat, snow removal and water; Operating expense details available in remarks

Exterior

• Parking: Common parking; On-street parking
• Utilities: Cable available; High-speed internet available; Public water connected; Sewer connected; Circuit breaker electric
• Home design: 2 stories; Existing construction
• Construction: Wood siding; Asphalt roof; Stone foundation; Built previously (existing)
• Exterior features: Partial fencing; Open porch; Fence; Near public transit; Residential lot; City street frontage; Irregular lot

Interior

• Kitchen: Electric water heater
• Bedrooms: 2-unit property (multi-family) — bedrooms not itemized per unit
• Flooring: Hardwood; Tile; Varied flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Ceiling fans; Natural woodwork
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $120k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $648/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $120k).
• Cap rate 19.3% 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; 2 comparable units currently listed for rent nearby; 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 $829 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $48k; list at $120k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $119,900

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 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.28% ✓
• Cap rate: 19.27%
• Cash-on-cash: 46.35%
• DSCR: 3.06
• GRM: 3.7

CMA / ARV

• ARV (median comp): $264,769
• List price: $119,900
• Delta: -54.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20 West St	0.40mi	3/2.0	1,896 (+2%)	19mo	$195,000	$103	62
11 Cortland St	0.50mi	3/2.5	1,760 (-5%)	11mo	$105,000	$60	57
245 W North St	0.44mi	4/2.0 (+1)	1,906 (+3%)	21mo	$165,000	$87	52
12 Twoomey Pl	0.45mi	4/2.0 (+1)	1,664 (-10%)	15mo	$160,000	$96	44
31 N Genesee St	0.59mi	4/2.0 (+1)	2,128 (+15%)	8mo	$147,000	$69	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 43.6%
• Equity multiple: 2.88×
• Total profit: $63,218
• Equity at exit: $17,877

10-year hold

• IRR: 49.6%
• Equity multiple: 5.81×
• Total profit: $161,647
• Equity at exit: $10,367

Cash invested: $33,572 (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 14456

• Home prices YoY: -15.8%
• Active inventory: 123
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,736 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$186 /mo · $2,233/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$575
• Net cashflow: $1,297

Break-even live

Break-even rent $1,095

Max offer price $119,900

Occupancy floor 48%

Sensitivity live

Price	-10% $1,365	-5% $1,331	+0% $1,297	+5% $1,263	+10% $1,229
Rent	-10% $1,080	-5% $1,189	+0% $1,297	+5% $1,405	+10% $1,513
Rate	-1.0pp $1,357	-0.5pp $1,327	base $1,297	+0.5pp $1,266	+1.0pp $1,234

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,736
Total (2 units)			$2,736

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
794 Pre Emption Rd Unit 9 Geneva, NY	2.0	1.0	1800	$1,700	$0.94	3d	1	1.20mi
794 Pre Emption Rd Unit 10 Geneva, NY	2.0	1.0	1750	$1,650	$0.94	3d	1	1.20mi

Listing history 4 events

1. 2026-05-14
   status Pending 877-char remark
2. 2026-05-05
   listed $119,900 Active 877-char remark
3. 2022-03-03
   price $700
4. 2015-05-07
   soldstatus $47,940

ⓘ 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: $2,233 · $186/mo
• Projected year-2 tax: $2,233 · $186/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,832
• − Mortgage interest: −$6,716
• − Property taxes: −$2,233
• − Insurance: −$600
• − Repairs & maintenance: −$2,627
• − Management: −$2,627
• − Depreciation: −$3,488
• Taxable income: $14,542
• Est. tax owed @ 24.0%: −$3,490
• After-tax cash flow: $12,070/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

+150.1% since first listed

4 events — show timeline

• 2026-05-14 Pending — UNYREIS
• 2026-05-05 Listed $119,900 UNYREIS
• 2022-03-03 Price Changed $700 RENT.
• 2015-05-07 Sold (Public Records) $47,940 Public Records

Property tax history

+4.0%/yr

Latest (2025): $2,233 · +2.7% YoY. Source: county tax records.