324 Conrad Dr · Rochester, NY 14616

$159,900

2 bd · 1.0 ba · 810 sqft · SingleFamily public records · 9 Days on market

Built 1941 5,625 sqft lot $197/sqft · 5% below area Est $168k · 5% 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).

• Cash flow +12.8/30.0
• ARV discount +9.8/15.0
• 1% rule +4.4/10.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this inviting 3 bedroom, 1 full bath Cape Cod offering 810 sq ft of comfortable living space! Perfect for 1st floor living, this home features a convenient layout with two bedrooms and full bath on the main level. Many major updates have already been completed, including newer roof, gutters, windows, siding, 2018 central air, and newer rear composite decking. Enjoy your morning coffee on the enclosed front porch or relax out back on the updated deck overlooking the yard. The upstairs 3rd bedroom was previously used, two owners ago, but still needs finishing touches, offering a great opportunity to add your own style and value. Delayed negotiations until May 16, 2026 at 12:00 PM.

Key facts

• Newer roof
• Newer siding
• Newer windows

Tags

• CONVENIENT LAYOUT
• NEWER ROOF
• NEWER GUTTERS
• NEWER WINDOWS
• NEWER SIDING
• CENTRAL AIR

Property features AI

Exterior

• Parking: Detached garage; 1-car garage
• Utilities: Electricity connected (circuit breakers); Public water connected; Sewer connected
• Home design: Single-story home; Resale property; Vinyl siding; Facing city street
• Construction: Vinyl siding construction; Copper plumbing; Block foundation; Existing (previously built)
• Exterior features: Blacktop driveway; Deck; Enclosed porch; Open porch

Interior

• Kitchen: Gas oven; Gas range; Microwave; Dishwasher; Refrigerator; Eat-in kitchen
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Vinyl; Varied flooring
• Bathrooms: 1 full bathroom (on main level)
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Ceiling fan(s); Eat-in kitchen; Bedroom on main level; Full finished basement; 5 total rooms (includes recreation and basement)
• Laundry & utility: Washer and dryer in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $-16 ($-189/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (6.0% below list).
• Recommended offer: $150k (6.0% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 9.3% in Rochester — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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.
• Greece Central School District (suburban): math 35% / reading 39% proficiency, ranked #544 of 590 in NY (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 112 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 1,169 units permitted in Monroe County in 2024 (591 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.
• Monroe County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,258 (6.0% 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 1941 — 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 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?
6. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.94% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.42%
• DSCR: 0.98
• GRM: 8.9

CMA / ARV

• ARV (median comp): $168,318
• List price: $159,900
• Delta: -5.00%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
327 Estall Rd	0.06mi	3/1.0 (+1)	864 (+7%)	3mo	$170,000	$197	79
343 Stonewood Ave	0.18mi	2/1.0	880 (+9%)	4mo	$164,500	$187	74
171 Lake Breeze Rd	0.63mi	2/1.0	806 (-0%)	7mo	$194,900	$242	64
72 Mosley Rd	0.58mi	1/1.0 (-1)	809 (-0%)	7mo	$155,000	$192	62
271 Sheppler St	0.67mi	2/1.0	836 (+3%)	4mo	$85,000	$102	60
76 Hager Rd	0.54mi	2/1.0	880 (+9%)	1mo	$130,000	$148	60
136 Castleford Rd	0.52mi	2/1.0	868 (+7%)	7mo	$150,000	$173	58
46 Cloverdale Rd	0.28mi	2/1.5	920 (+14%)	7mo	$215,000	$234	57
111 Sheraton Dr	0.56mi	3/1.0 (+1)	880 (+9%)	1mo	$157,000	$178	54
63 Chesterfield Dr	0.51mi	2/1.0	900 (+11%)	6mo	$165,000	$183	53
131 Mosley Rd	0.65mi	2/1.0	908 (+12%)	4mo	$153,000	$169	47
524 Bennington Dr	0.71mi	2/1.0	696 (-14%)	7mo	$158,000	$227	38

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: -16.9%
• Equity multiple: 0.40×
• Total profit: $-26,829
• Equity at exit: $23,842

10-year hold

• IRR: -8.7%
• Equity multiple: 0.46×
• Total profit: $-24,316
• Equity at exit: $13,825

Cash invested: $44,772 (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 14616

• Home prices YoY: -18.0%
• Active inventory: 112
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,503 high
• Mortgage (P&I): −$839
• Tax from tax record: −$298 /mo · $3,571/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $-16

Break-even live

Break-even rent $1,522

Max offer price $157,122

Occupancy floor 96%

Sensitivity live

Price	-10% $75	-5% $30	+0% $-16	+5% $-61	+10% $-106
Rent	-10% $-134	-5% $-75	+0% $-16	+5% $44	+10% $103
Rate	-1.0pp $65	-0.5pp $25	base $-16	+0.5pp $-57	+1.0pp $-99

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4 Valley Brook Cir Greece, NY	2.0	1.5	1047	$2,306	$2.20	4d	3	0.13mi
419 Britton Rd Rochester, NY	2.0	1.5	1025	$1,595	$1.56	4d	1	0.21mi
553 Britton Rd Unit Uppr Rochester, NY	2.0	1.0	750	$1,300	$1.73	16d	1	0.24mi
360 Britton Rd Rochester, NY	1.0–2.0	1.0	837	$1,479	$1.77	4d	2	0.31mi
188 Stonewood Ave Rochester, NY	1.0–2.0	1.0	675	$1,325	$1.96	13d	12	0.36mi
172 Stonewood Ave Unit 3 Greece, NY	1.0	1.0	650	$1,200	$1.85	5d	1	0.37mi
108 Glenbrook Rd Rochester, NY	3.0	1.0	1088	$1,850	$1.70	25d	1	0.41mi
146 Woodhill Dr Rochester, NY	1.0	1.0	680	$1,225	$1.80	12d	1	0.46mi
146 Woodhill Dr Unit 6 Rochester, NY	1.0	1.0	680	$1,225	$1.80	25d	1	0.46mi
146 Woodhill Dr Unit 146-06 Woodhill Rochester, NY	1.0	1.0	680	$1,225	$1.80	20d	1	0.46mi
154 Woodhill Dr Unit 3 Greece, NY	2.0	1.0	800	$1,350	$1.69	23d	1	0.47mi
154 Woodhill Dr Greece, NY	1.0–2.0	1.0	740	$1,350	$1.82	4d	2	0.47mi
534-582 Denise Rd Unit 562 Rochester, NY	2.0	1.0	1000	$1,575	$1.57	4d	1	0.73mi
44 Windsor Rd Rochester, NY	3.0	1.0	882	$1,795	$2.04	4d	1	0.75mi
3677 Lake Ave Rochester, NY	2.0	1.0	1088	$1,200	$1.10	45d	1	0.80mi
3704 Lake Ave Rochester, NY	1.0	1.0	750	$1,200	$1.60	25d	1	0.83mi
60 Cheltenham Rd Unit Down Rochester, NY	2.0	1.0	1014	$1,300	$1.28	16d	1	0.98mi
180 Whitehall Dr Greece, NY	1.0–2.0	1.0	850	$1,230	$1.45	4d	1	1.02mi
38 Valley St Apt 4 Rochester, NY	1.0	1.0	700	$995	$1.42	5d	1	1.12mi
704 Rumson Rd Rochester, NY	3.0	1.0	1100	$1,950	$1.77	5d	1	1.38mi
1255 Latta Rd Greece, NY	1.0–2.0	1.0	705	$1,570	$2.23	4d	5	1.40mi

Listing history 2 events

1. 2026-05-17
   status Pending 698-char remark
2. 2026-05-08
   listed $159,900 Active 698-char remark

ⓘ 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: $3,571 · $298/mo
• Projected year-2 tax: $3,571 · $298/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 16 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: $18,031
• − Mortgage interest: −$8,957
• − Property taxes: −$3,571
• − Insurance: −$800
• − Repairs & maintenance: −$1,442
• − Management: −$1,442
• − Depreciation: −$4,652
• Taxable loss: −$2,833
• Est. tax savings @ 24.0%: +$680
• After-tax cash flow: $491/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: Greece Central School District
• NCES district ID: 3612630
• Math proficiency: 35% ▼ -14.00%
• Reading proficiency: 39% ▼ -3.00%
• Median HH income: $52,718
• Composite: 32.26/100
• National rank: #5761
• State rank: #544 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

• County: Monroe County · 674,131 people
• City population: 432,803
• Metro: Rochester, NY
• Population (ZIP): 26,863
• Household income: $66,499
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 789.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Black 13% Hispanic / Latino 12% Two or more races 8% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 9%
• Common ancestry: Romanian 6% Lithuanian 2% Iranian 2%
• Foreign-born: 8% · Canada, Philippines, Jamaica
• Languages at home: 88% English-only · Spanish 5% Arabic 2% Other Asian/Pacific 2%

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: ▼ -54.14%
• Current HPI: 246.1703
• Rent YoY: —
• 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

2 events — show timeline

• 2026-05-17 Pending — UNYREIS
• 2026-05-08 Listed $159,900 UNYREIS

Property tax history

+2.5%/yr

Latest (2025): $3,571 · +83.8% YoY. Source: county tax records.