1239 Saint Paul St · Rochester, NY 14621

$174,000

4 bd · 3.0 ba · 2,968 sqft · MultiFamily public records · 17 Days on market

Built 1910 7,405 sqft lot $59/sqft · 6% below area Est $186k · 6% under

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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
• ARV discount +10.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.7/5.0
• 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

Another Rockin' Rochester Property! Excellent income-producing opportunity on Saint Paul Street! This multifamily property offers spacious units, a practical layout, and strong rental potential. Ideal for investors looking to expand their portfolio or owner-occupants seeking supplemental income. Well maintained by owner, Beautiful natural trim and custom cabinetry, Third floor is an entire finished apartment complete with kitchen, bath, bedroom, living room. Has separate electric panel and meter as well as its own separate access. This could be owner-occupied space or rentable by adding a fire escape. Convenient location close to downtown, public transportation, and neighborhood amenities.

Key facts

• 7,405 sq ft lot
• Garage
• Built 1910

Property features AI

Finance

• Other: Operating expense details: see remarks
• Financial info: Owner pays trash collection and water; Rent includes trash collection and water; Unit rents: two 2-bed units at $950; one 1-bed unit at $900; Separate gas and electric meters (4 each)

Exterior

• Parking: Carport; Garage (1 garage space); Paved parking
• Utilities: Cable available; High-speed internet available; Public water (connected); Sewer connected; Circuit breaker electrical system
• Home design: Multi-family property with 3 total units; 2 stories; Resale condition
• Construction: Stucco exterior; Copper and PEX plumbing; Block foundation; Existing year built (existing structure)
• Exterior features: Near public transit; Rectangular residential lot; City street frontage; Paved surfaces

Interior

• Kitchen: Eat-in kitchens in some units; Dining area with kitchen in one unit
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms; Unit 3: 1 bedroom
• Flooring: Carpet; Hardwood; Tile; Vinyl; Varies
• Bathrooms: 3 full bathrooms (total); Each unit includes 1 full bathroom
• Heating & cooling: Gas forced-air heating; Has heating
• Interior features: Thermal windows; Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $174k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $174k).
• Recommended offer: $171k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.3% 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 (+8.9%/yr); 114 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $3,437/mo this rent would consume 117% of the median local household income ($35k/yr) (locally 2756% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 + 8.0% rent growth), your $49k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($171k) is reasonable based on typical stale-listing flexibility.
• 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 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $171,390 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — 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: 1.98% ✓
• Cap rate: 17.34%
• Cash-on-cash: 39.47%
• DSCR: 2.76
• GRM: 4.2

CMA / ARV

• ARV (median comp): $185,520
• List price: $174,000
• Delta: -6.21%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
156 Avenue D #154	0.29mi	4/3.0	2,640 (-11%)	0mo	$122,777	$47	67
950 Saint Paul St	0.38mi	5/3.0 (+1)	2,967 (-0%)	17mo	$120,000	$40	63
9 Fien St	0.65mi	4/2.0	2,709 (-9%)	14mo	$95,000	$35	39
431-433 Hollenbeck St #2	0.74mi	4/2.0	2,625 (-12%)	6mo	$161,777	$62	37
12 Fairview	0.61mi	4/2.0	2,690 (-9%)	23mo	$112,500	$42	33
513-517 Conkey Ave	0.47mi	5/3.0 (+1)	2,559 (-14%)	24mo	$145,000	$57	30
127 Emerson St	0.51mi	5/2.0 (+1)	2,577 (-13%)	21mo	$102,000	$40	28
680 Dewey Ave #678	0.70mi	4/4.0	3,312 (+12%)	22mo	$60,000	$18	26

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: 41.2%
• Equity multiple: 2.89×
• Total profit: $92,031
• Equity at exit: $25,944

10-year hold

• IRR: 49.7%
• Equity multiple: 7.04×
• Total profit: $294,223
• Equity at exit: $15,044

Cash invested: $48,720 (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 14621

• Home prices YoY: -4.0%
• Rents YoY: 8.9%
• Active inventory: 114
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $3,437 high
• Mortgage (P&I): −$912
• Tax from tax record: −$128 /mo · $1,533/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$722
• Net cashflow: $1,603

Break-even live

Break-even rent $1,408

Max offer price $174,000

Occupancy floor 48%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$3,438
Total (3 units)			$3,437

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: $43,500
• Closing costs: $5,220
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
98 Pierpont St Rochester, NY	3.0	1.0	1973	$1,295	$0.66	44d	1	0.64mi
327 Glenwood Ave Rochester, NY	3.0	1.0	2012	$1,690	$0.84	3d	1	0.71mi
235 Flower City Park Rochester, NY	3.0	1.0	2000	$1,360	$0.68	44d	1	1.05mi
649 Jay St Rochester, NY	5.0	2.0	2144	$2,000	$0.93	3d	1	1.45mi
768 Flower City Park Rochester, NY	3.0	1.0	1995	$1,995	$1.00	10d	1	1.49mi

Listing history 5 events

1. 2026-05-14
   status Pending 733-char remark
2. 2026-04-27
   listed $174,000 Active 733-char remark
3. 2026-01-20
   status Pending
4. 2026-01-16
   historical
5. 2025-12-31
   listed $174,000 Active

ⓘ 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: $1,533 · $128/mo
• Projected year-2 tax: $2,237 · $186/mo
• Expected delta: +$704/yr (+$59/mo · 45.9%)

ⓘ 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: $41,244
• − Mortgage interest: −$9,747
• − Property taxes: −$1,533
• − Insurance: −$870
• − Repairs & maintenance: −$3,300
• − Management: −$3,300
• − Depreciation: −$5,062
• Taxable income: $17,434
• Est. tax owed @ 24.0%: −$4,184
• After-tax cash flow: $15,046/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): 32,381
• Household income: $35,383
• Rent vs Own: 64.6% rent · 35.4% own
• Severe rent burden: 2756.0

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 0.66)
• Race & ethnicity: Hispanic / Latino 40% Black 40% White 14% Two or more races 12% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 32% Dominican 3%
• Common ancestry: Romanian 1% Lithuanian 1% Serbian 1%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 65% English-only · Spanish 30% Other Asian/Pacific 2% French/Haitian/Cajun 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: ▼ -10.66%
• Current HPI: 254.1805
• Rent YoY: ▲ 8.88%
• 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

+0.0% since first listed

5 events — show timeline

• 2026-05-14 Pending — UNYREIS
• 2026-04-27 Listed $174,000 UNYREIS
• 2026-01-20 Pending — UNYREIS
• 2026-01-16 Listing Removed — UNYREIS
• 2025-12-31 Listed $174,000 UNYREIS

Property tax history

+3.3%/yr

Latest (2025): $1,533 · -2.9% YoY. Source: county tax records.