348 Mill Rd · Greece, NY 14626

$189,900

3 bd · 1.0 ba · 1,440 sqft · SingleFamily public records · 7 Days on market

Built 1962 0.33 ac lot $132/sqft · 46% below area Est $350k · 46% under

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Why this score? — see what drove the C+ 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 +19.3/30.0
• ARV discount +15.0/15.0
• 1% rule +7.1/10.0
• DSCR +6.1/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 348 Mill Road in Rochester, a charming 3-bedroom, 1-full-bath ranch that delivers easy single-level living, inviting spaces, and thoughtful details at every turn! Said to be the model home for ranches in the area, this home offers a layout that is both practical and comfortable. From the moment you step inside, the living room creates a warm first impression, anchored by a wood-burning fireplace that adds character and a welcoming focal point for relaxing or gathering. Just beyond, the formal dining room provides a wonderful setting for everyday meals, holidays, and time spent together, with an easy connection to the kitchen for comfortable day-to-day living. Three bedrooms and a

Key facts

• Formal dining room
• Bonus heated sunroom
• Hardwood floors

Tags

• WOOD BURNING FIREPLACE
• FORMAL DINING ROOM
• HARDWOOD FLOORS
• BONUS HEATED SUNROOM
• WALK UP BASEMENT

Property features AI

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: Public water connected; Sewer connected; Electric with circuit breakers
• Home design: Single-story home; Existing construction; Wood siding
• Construction: Block foundation
• Exterior features: Blacktop driveway; Rectangular lot (approx. 0.33 acre, 89 x 170)

Interior

• Kitchen: Electric oven; Electric range; Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms on main level
• Flooring: Carpet; Laminate; Varies
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Gas heating; Baseboard heating
• Interior features: Ceiling fans; Separate/formal dining room; Separate/formal living room; Bedroom on main level; Full walk-out basement
• Laundry & utility: Washer and dryer in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Cap rate 7.6% vs local median 3.7% in Greece — 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 79/100 on livability (#145 in NY, #2,223 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: schools D-, crime D-.
• 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: Rents rising (+2.5%/yr); 129 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• This rent runs 35% of the median local income ($78k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $78k; list at $190k implies a 145% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price.

Recommended offer $189,900

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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?
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 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: 1.21% ✓
• Cap rate: 7.62%
• Cash-on-cash: 4.73%
• DSCR: 1.21
• GRM: 6.9

CMA / ARV

• ARV (median comp): $349,958
• List price: $189,900
• Delta: -45.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
908 N Greece Rd	0.24mi	3/2.0	1,568 (+9%)	7mo	$201,000	$128	64
38 Shadmore Dr	0.27mi	4/2.0 (+1)	1,596 (+11%)	0mo	$265,000	$166	60
258 Mill Rd	0.39mi	3/1.0	1,480 (+3%)	21mo	$235,300	$159	60
144 Dove Tree Ln	0.55mi	3/2.0	1,485 (+3%)	8mo	$317,100	$214	58
47 Sunny Mill Ln	0.26mi	3/2.0	1,546 (+7%)	16mo	$325,000	$210	58
48 Shadmore Dr	0.28mi	4/2.0 (+1)	1,596 (+11%)	11mo	$230,000	$144	51
61 Collenton Dr	0.68mi	3/2.0	1,485 (+3%)	14mo	$340,000	$229	48
217 Mill Rd	0.60mi	3/1.5	1,312 (-9%)	10mo	$270,000	$206	47
1179 Guinevere Dr	0.53mi	3/2.0	1,593 (+11%)	17mo	$393,471	$247	40
55 Collenton Dr	0.67mi	3/3.0	1,340 (-7%)	15mo	$300,000	$224	36
34 La Solis Dr	0.69mi	3/2.5	1,599 (+11%)	8mo	$290,000	$181	36
167 North Ave	0.70mi	3/3.5	1,596 (+11%)	11mo	$325,000	$204	30

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 · 2.5% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.65×
• Total profit: $-18,349
• Equity at exit: $28,315

10-year hold

• IRR: -0.7%
• Equity multiple: 0.95×
• Total profit: $-2,577
• Equity at exit: $16,419

Cash invested: $53,172 (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 14626

• Home prices YoY: -31.4%
• Rents YoY: 2.5%
• Active inventory: 129
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,305 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$536 /mo · $6,433/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $210

Break-even live

Break-even rent $2,039

Max offer price $189,900

Occupancy floor 86%

Sensitivity live

Price	-10% $317	-5% $263	+0% $210	+5% $156	+10% $102
Rent	-10% $28	-5% $119	+0% $210	+5% $301	+10% $392
Rate	-1.0pp $305	-0.5pp $258	base $210	+0.5pp $161	+1.0pp $110

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
598 Bram Hall Dr Rochester, NY	3.0	2.5	1740	$2,750	$1.58	4d	1	0.65mi
49 Lianne Dr Rochester, NY	3.0	2.0	1281	$2,650	$2.07	4d	1	0.90mi

Listing history 2 events

1. 2026-05-13
   listed $189,900 Active 1639-char remark
2. 1994-02-14
   soldstatus $77,500

ⓘ 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: $6,433 · $536/mo
• Projected year-2 tax: $6,433 · $536/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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°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: $27,657
• − Mortgage interest: −$10,637
• − Property taxes: −$6,433
• − Insurance: −$950
• − Repairs & maintenance: −$2,213
• − Management: −$2,213
• − Depreciation: −$5,524
• Taxable loss: −$312
• Est. tax savings @ 24.0%: +$75
• After-tax cash flow: $2,592/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 — Greece

• Score: 79/100
• State rank: #145
• US rank: #2223

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Monroe County · 674,131 people
• City population: 29,210
• Metro: Rochester, NY
• Population (ZIP): 29,273
• Household income: $78,204
• Rent vs Own: 32.1% rent · 67.9% own
• Severe rent burden: 810.0

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 (77%)
• Race & ethnicity: White 77% Black 9% Hispanic / Latino 8% Two or more races 6% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5%
• Common ancestry: Romanian 5% Lithuanian 2% Subsaharan African 2%
• Foreign-born: 9% · Canada, Vietnam, South Korea
• Languages at home: 89% English-only · Other Indo-European 3% Spanish 3% Russian/Polish/Slavic 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: ▼ -113.91%
• Current HPI: 248.9836
• Rent YoY: ▲ 2.50%
• 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

+145.0% since first listed

3 events — show timeline

• 2026-05-20 Pending — UNYREIS
• 2026-05-13 Listed $189,900 UNYREIS
• 1994-02-14 Sold (Public Records) $77,500 Public Records

Property tax history

+5.2%/yr

Latest (2025): $6,433 · +2.7% YoY. Source: county tax records.