161-163 Exchange St · Geneva, NY 14456

$119,000

6 bd · 2.0 ba · 2,244 sqft · MultiFamily public records · 4 Days on market

Built 1918 2,193 sqft lot $53/sqft · 45% below area Est $217k · 45% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• 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: 2 units. confirmed

Listing remarks

Two-family home located in the City of Geneva just a short walk from downtown shops, restaurants, and beautiful Seneca Lake. Each spacious apartment features a two-story layout with three bedrooms, one full bathroom, eat-in kitchen, dining room, and comfortable living room. Both units offer nice character and convenient front and side entrances. This property is an excellent opportunity for owner-occupants or investors alike.

Key facts

• Eat in kitchen
• Dining room
• Two family home

Tags

• TWO FAMILY HOME
• TWO STORY LAYOUT
• EAT IN KITCHEN
• DINING ROOM
• COMFORTABLE LIVING ROOM
• CONVENIENT FRONT ENTRANCE

Property features AI

Finance

• Other: Operating expenses: see remarks
• Financial info: Owner pays trash collection and water; Rent includes trash collection and water; Unit 1 rent: $850; Unit 2 rent: $750; Two separate gas meters and two separate electric meters

Exterior

• Parking: Paved parking with two or more spaces
• Utilities: Public water connected; Sewer connected
• Home design: 2-story building; Existing/resale property
• Construction: Construction details: see remarks
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 51 x 43

Interior

• Kitchen: Each unit includes an eat-in kitchen
• Bedrooms: Two 3-bedroom units
• Flooring: Carpet; Hardwood; Varies
• Bathrooms: Each unit has 1 full bathroom (2 full bathrooms total)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $119k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $795/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $119k).
• Cap rate 22.3% vs local median 5.0% in Geneva — 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 78/100 on livability (#177 in NY, #2,760 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, employment D, amenities F.
• Geneva City School District (town): math 36% / reading 43% proficiency, ranked #528 of 590 in NY (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Street Elementary School (math 28% / reading 35%, grade F, #1,679 of 2,108 statewide, top 80%, 595 students, 75% FRL); Geneva Middle School (math 21% / reading 42%, grade F, #522 of 729 statewide, top 73%, 452 students, 68% FRL); Geneva High School (math 92% / reading 98%, grade A+, #93 of 1,100 statewide, top 10%, 613 students, 63% FRL) — zoned schools average 69% FRL vs 51% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 53% at this address vs 40% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Geneva City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 123 active listings in the ZIP; 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 $823 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $85k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $119,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.71% ✓
• Cap rate: 22.34%
• Cash-on-cash: 57.30%
• DSCR: 3.55
• GRM: 3.1

CMA / ARV

• ARV (median comp): $217,023
• List price: $119,000
• Delta: -45.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
213 N Main St	0.43mi	6/2.0	2,214 (-1%)	1mo	$149,900	$68	77
159 Genesee St	0.29mi	5/3.0 (-1)	2,320 (+3%)	23mo	$163,000	$70	53

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: 55.8%
• Equity multiple: 3.47×
• Total profit: $82,178
• Equity at exit: $17,743

10-year hold

• IRR: 60.8%
• Equity multiple: 7.08×
• Total profit: $202,572
• Equity at exit: $10,289

Cash invested: $33,320 (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 14456

• Home prices YoY: -15.8%
• Active inventory: 123
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $3,226 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$284 /mo · $3,407/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$677
• Net cashflow: $1,591

Break-even live

Break-even rent $1,212

Max offer price $119,000

Occupancy floor 46%

Sensitivity live

Price	-10% $1,658	-5% $1,625	+0% $1,591	+5% $1,557	+10% $1,524
Rent	-10% $1,336	-5% $1,464	+0% $1,591	+5% $1,718	+10% $1,846
Rate	-1.0pp $1,651	-0.5pp $1,621	base $1,591	+0.5pp $1,560	+1.0pp $1,529

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,226
Total (2 units)			$3,226

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-15
   listed $119,000 Active 429-char remark
2. 2021-03-29
   soldstatus $85,000
3. 2010-05-27
   soldstatus $45,000

ⓘ 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: $3,407 · $284/mo
• Projected year-2 tax: $3,407 · $284/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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 16 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: $38,712
• − Mortgage interest: −$6,666
• − Property taxes: −$3,407
• − Insurance: −$595
• − Repairs & maintenance: −$3,097
• − Management: −$3,097
• − Depreciation: −$3,462
• Taxable income: $18,388
• Est. tax owed @ 24.0%: −$4,413
• After-tax cash flow: $14,678/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: Geneva City School District
• NCES district ID: 3611970
• Math proficiency: 36% ▲ 3.00%
• Reading proficiency: 43% ▲ 11.00%
• Median HH income: $44,012
• Composite: 33.48/100
• National rank: #5448
• State rank: #528 of 590 in NY

Livability — Geneva

• Score: 78/100
• State rank: #177
• US rank: #2760

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Geneva, NY
• Population (ZIP): 19,864

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 13% Two or more races 7% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9%
• Common ancestry: Iranian 5% Slovak 3% Italian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 2% German/W. Germanic 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: ▼ -57.56%
• Current HPI: 307.9168
• Rent YoY: —
• Metro: —
• 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

+164.4% since first listed

4 events — show timeline

• 2026-05-20 Pending — UNYREIS
• 2026-05-15 Listed $119,000 UNYREIS
• 2021-03-29 Sold (Public Records) $85,000 Public Records
• 2010-05-27 Sold (Public Records) $45,000 Public Records

Property tax history

+10.7%/yr

Latest (2025): $3,407 · +2.7% YoY. Source: county tax records.