344 Mount Hope Ave

Rochester, NY 14620

$159,900B+

6 bd · 3.0 ba · 1,296 sqft · Built 1908 · SingleFamily · Active · 117 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,581/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$176
• HOA: −$0
• Vac / Maint / Mgmt: −$542
• Net cashflow: $1,024/mo
• Annual: $12,288/yr
• Cap rate: 13.98%
• Cash-on-cash: 27.45%
• DSCR: 2.22
• 1% rule: 1.61%
• Cash to close: $44,772

Investor read

• This is a 6-bed/3.0-bath single-family listed at $160k. Condition is rated fair.
• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• It's been on market 117 days — a 9% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $146k (9.0% below list) — sets the bar for market timing.
• 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.
• 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: 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.
• Zoned schools: Anna Murray-Douglass Academy (math 8% / reading 12%, grade F, #2,075 of 2,108 statewide, top 99%, 757 students, 86% FRL); East Lower School (math 2% / reading 22%, grade F, #715 of 729 statewide, top 98%, 304 students, 86% FRL); Edison Career And Technology High School (math 44% / reading 50%, grade D-, #1,007 of 1,100 statewide, top 93%, 1,233 students, 91% FRL).
• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+1.2%/yr); 173 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• Monroe County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 6 sale attempts since 8y 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 $30k; list at $160k implies a 433% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 1.2% rent growth), your $45k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 14.0% vs local median 7.5% 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.
• At $2,581/mo this rent would consume 50% of the median local household income ($62k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: roof — Signs of wear on the roof
• Moderate: exterior paint — Paint is faded and peeling
• Minor: landscaping — Minimal landscaping with snow present