64 Chapin St · Canandaigua, NY 14424

$239,900

2 bd · 2.0 ba · 1,735 sqft · MultiFamily public records · 10 Days on market

Built 1860 7,380 sqft lot Est $298k · 20% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +12.4/30.0
• Schools +4.7/10.0
• Rent growth +4.6/5.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• 1% rule +3.3/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

This Two Family Residence is located in the heart of the city of Canandaigua, close to downtown shops, restaurants, and Canadaigua Lake. Separate Electric utilities. Boiler serves both up and down apartments. The neighborhood is within walking distance to many local favorites in downtown Canandaigua, including 11 Posto Bistro, Green Front Restaurant, Finger Lakes Plates, and working class Coffee! Move in Ready! Delayed Negotiation due 5/29/26 @ 5pm. This home is also listed as a single family residence MLS# R1683033. Hurry WON"T LAST!

Key facts

• In-law apartment
• Full kitchen
• Walking distance

Tags

• SINGLE FAMILY RESIDENCE
• FULL KITCHEN
• IN-LAW APARTMENT
• SEPARATE ELECTRIC UTILITIES
• WALKING DISTANCE

Property features AI

Exterior

• Parking: Detached garage with garage door opener; 1 garage space
• Utilities: Public water connected; Sewer connected; Cable available; High-speed internet available
• Home design: 2 stories; Resale property; Vinyl siding
• Construction: Built existing (pre-owned); Stone foundation
• Exterior features: Gravel driveway; Propane tank (owned); Covered porch

Interior

• Kitchen: Gas cooktop; Gas oven; Gas range; Refrigerator; Freezer; Eat-in kitchen; Second kitchen
• Bedrooms: 2 main-level bedrooms
• Flooring: Hardwood; Vinyl; Varies
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Gas heating; Forced air
• Interior features: Ceiling fan(s); Separate/formal dining room; Eat-in kitchen; Separate/formal living room; Second kitchen; In-law floorplan; See remarks
• Laundry & utility: Washer; Dryer; Propane water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $-39 ($-465/yr) — negative.
• To cash-flow at today's rent, offer at most $233k (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (17.4% below list).
• Recommended offer: $198k (17.4% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.4% in Canandaigua — 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 75/100 on livability (#243 in NY, #3,822 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, schools B+; Watch: employment C-, amenities F, health & safety D-.
• Canandaigua City School District (suburban): math 50% / reading 59% proficiency, ranked #305 of 590 in NY (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+8.5%/yr); 223 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y 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 $140k; list at $240k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $198,183 (17.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1860 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.83% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.69%
• DSCR: 0.97
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $298,420
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
145 Chapin St	0.20mi	3/2.0 (+1)	1,882 (+8%)	4mo	$200,000	$106	68
112 Bristol St	0.20mi	3/3.0 (+1)	1,980 (+14%)	3mo	$340,000	$172	56

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -12.2%
• Equity multiple: 0.54×
• Total profit: $-30,872
• Equity at exit: $35,770

10-year hold

• IRR: 3.0%
• Equity multiple: 1.26×
• Total profit: $17,597
• Equity at exit: $20,742

Cash invested: $67,172 (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 14424

• Home prices YoY: -21.2%
• Rents YoY: 8.5%
• Active inventory: 223
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,982 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$246 /mo · $2,957/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $-39

Break-even live

Break-even rent $2,031

Max offer price $233,055

Occupancy floor 97%

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
292 Mason St Canandaigua, NY	3.0	1.5	1225	$1,800	$1.47	3d	1	0.34mi
450 S Main St Canandaigua, NY	3.0	2.5	2060	$3,000	$1.46	44d	1	0.51mi
236 Jefferson Ave Canandaigua, NY	2.0	1.0	2121	$1,600	$0.75	3d	1	0.58mi
9000 Hammocks Dr Unit 3102 Canandaigua, NY	3.0	2.0	1356	$2,314	$1.71	44d	1	0.80mi
9000 Hammocks Dr Unit 2403 Canandaigua, NY	2.0	2.0	1398	$2,281	$1.63	44d	1	0.80mi

Listing history 7 events

1. 2026-05-31
   status $239,900 Pending 10 DOM
2. 2026-05-21
   listed $239,900 Active 546-char remark

   Show marketing remark (546 chars)

   This Two Family Residence is located in the heart of the city of Canandaigua, close to downtown shops, restaurants, and Canadaigua Lake. Separate Electric utilities. Boiler serves both up and down apartments. The neighborhood is within walking distance to many local favorites in downtown Canandaigua, including 11 Posto Bistro, Green Front Restaurant, Finger Lakes Plates, and working class Coffee! Move in Ready! Delayed Negotiation due 5/29/26 @ 5pm. This home is also listed as a single family residence MLS# R1683033. Hurry WON"T LAST!

3. 2026-05-20
   listed $239,900 Active
4. 2022-11-14
   soldstatus $139,900
5. 2022-11-11
   soldstatus $139,900 Closed Sale or Rented 482-char remark

   Show marketing remark (482 chars)

   Loads of Character Throughout this 2 Family, Once Was a Single Family Home. Tons of Possibilities. The Hardwoods, Beautiful Moldings, Solid Interior Doors Takes us Back in Time. Updates Throughout as Well; Windows, Boiler, Electric. Great Front Porch and Enclosed Back Porch for Gazing Over the Park Like Grounds. This home has not been occupied as a two family in over 20 Years. No rental history or Certificate of Compliance. The City Code Office will be through with in 2 weeks.

6. 2022-10-11
   status Under Contract- Do Not Show 482-char remark

   Show marketing remark (482 chars)

   Loads of Character Throughout this 2 Family, Once Was a Single Family Home. Tons of Possibilities. The Hardwoods, Beautiful Moldings, Solid Interior Doors Takes us Back in Time. Updates Throughout as Well; Windows, Boiler, Electric. Great Front Porch and Enclosed Back Porch for Gazing Over the Park Like Grounds. This home has not been occupied as a two family in over 20 Years. No rental history or Certificate of Compliance. The City Code Office will be through with in 2 weeks.

7. 2022-10-05
   listed $139,900 Active 482-char remark

   Show marketing remark (482 chars)

   Loads of Character Throughout this 2 Family, Once Was a Single Family Home. Tons of Possibilities. The Hardwoods, Beautiful Moldings, Solid Interior Doors Takes us Back in Time. Updates Throughout as Well; Windows, Boiler, Electric. Great Front Porch and Enclosed Back Porch for Gazing Over the Park Like Grounds. This home has not been occupied as a two family in over 20 Years. No rental history or Certificate of Compliance. The City Code Office will be through with in 2 weeks.

ⓘ 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: $2,957 · $246/mo
• Projected year-2 tax: $3,505 · $292/mo
• Expected delta: +$549/yr (+$46/mo · 18.6%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 17 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: $23,782
• − Mortgage interest: −$13,438
• − Property taxes: −$2,957
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,903
• − Management: −$1,903
• − Depreciation: −$6,979
• Taxable loss: −$4,596
• Est. tax savings @ 24.0%: +$1,103
• After-tax cash flow: $638/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: Canandaigua City School District
• NCES district ID: 3606330
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 59% ▲ 4.00%
• Median HH income: $56,375
• Composite: 47.09/100
• National rank: #2335
• State rank: #305 of 590 in NY

Livability — Canandaigua

• Score: 75/100
• State rank: #243
• US rank: #3822

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Canandaigua, NY
• County: Ontario County · 58,989 people
• City population: 28,786
• Metro: Rochester, NY
• Population (ZIP): 28,786
• Household income: $79,778
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 737.0

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 5% Black 1%
• Common ancestry: Romanian 4% Iranian 4% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% German/W. Germanic 1% Arabic 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: ▼ -70.94%
• Current HPI: 263.755
• Rent YoY: ▲ 8.46%
• 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

+71.5% since first listed

6 events — show timeline

• 2026-05-21 Listed $239,900 UNYREIS
• 2026-05-20 Listed $239,900 UNYREIS
• 2022-11-14 Sold (Public Records) $139,900 Public Records
• 2022-11-11 Sold (MLS) $139,900 UNYREIS
• 2022-10-11 Pending — UNYREIS
• 2022-10-05 Listed $139,900 UNYREIS

Property tax history

+11.5%/yr

Latest (2025): $2,957 · -1.9% YoY. Source: county tax records.