24 Laredo Dr · Gates, NY 14624

$189,900

3 bd · 1.0 ba · 1,512 sqft · SingleFamily public records · 8 Days on market

Built 1955 0.25 ac lot $126/sqft · 25% below area Est $254k · 25% 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 +25.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +7.5/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Nice neighborhood street close to the expressway, grocery stores, and restaurants in Gates Chili Schools. Move-in ready with room to update to your taste, hard to find bedroom space and great bones. New forced air gas furnace and hot water tank. Updated kitchen with solid surface counter tops and includes all appliances including the washer and dryer. The main suite at one time was 2 bedrooms , now one big bedroom. This long time family home offers many opportunities and a perfect canvas for personal updates. Opportunity knocks for the buyer who appreciates value and location. Nice large fenced back yard, enclosed back porch and a 2 car garage with a breezeway and place to remove shoes etc

Key facts

• Enclosed back porch
• Fenced back yard
• Breezeway

Tags

• GROCERY STORES
• UPDATED KITCHEN
• SOLID SURFACE COUNTER TOPS
• FENCED BACK YARD
• ENCLOSED BACK PORCH
• BREEZEWAY

Property features AI

Exterior

• Parking: Attached garage with garage door opener; Driveway parking; 2 garage spaces
• Utilities: Public water connected; Sewer connected; Electricity connected (circuit breakers); Cable available
• Home design: Single-story listed (property details indicate 1 story); Resale property; Vinyl siding
• Construction: Asphalt shingle roof; Vinyl siding; Copper plumbing; Block foundation; Existing (pre-owned) construction
• Exterior features: Blacktop driveway; Fully fenced yard; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Built-in range; Built-in oven; Gas cooktop; Electric oven; Electric range; Range hood; Exhaust fan; Microwave; Refrigerator; Dishwasher
• Bedrooms: Main level bedroom: 1; Second level bedrooms: multiple (Bedroom 1 on first level, Bedrooms 2–5 on second level as listed)
• Flooring: Carpet; Ceramic tile; Hardwood; Laminate; Varies
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas forced-air heating; Window air conditioning units
• Interior features: Entrance foyer; Eat-in kitchen; Separate/formal living room; Home office; Solid surface counters; Natural woodwork; Window treatments; Drapes; Thermal windows; Programmable thermostat; Has basement (full, partially finished, with sump pump)
• Laundry & utility: Washer; Dryer; Laundry located 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 $463 ($6k/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 9.2% vs local median 5.9% in Gates — 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 67/100 on livability (#582 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+; Watch: amenities F, commute F.
• Gates-Chili Central School District (suburban): math 41% / reading 42% proficiency, ranked #491 of 590 in NY (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 127 active listings in the ZIP; 1 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 32% of the median local income ($88k/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 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $189,900

Questions for the listing agent

1. Built in 1955 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 1.25% ✓
• Cap rate: 9.22%
• Cash-on-cash: 10.45%
• DSCR: 1.46
• GRM: 6.7

CMA / ARV

• ARV (median comp): $253,885
• List price: $189,900
• Delta: -25.20%
• 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
22 Laredo Dr	0.01mi	4/1.5 (+1)	1,492 (-1%)	5mo	$230,000	$154	86
162 Chestnut Ridge Rd	0.19mi	3/2.0	1,500 (-1%)	8mo	$261,000	$174	80
159 Chestnut Ridge Rd	0.14mi	4/2.0 (+1)	1,512 (0%)	8mo	$250,000	$165	78
104 Stover Rd	0.39mi	3/1.5	1,492 (-1%)	7mo	$285,000	$191	72
52 Chestnut Ridge Rd	0.53mi	3/1.5	1,590 (+5%)	1mo	$300,500	$189	64
71 Bellmawr Dr	0.41mi	3/1.5	1,429 (-6%)	8mo	$280,000	$196	63
25 Bellmawr Dr	0.54mi	3/1.5	1,608 (+6%)	1mo	$310,000	$193	62
34 Chestnut Ridge Rd	0.58mi	4/2.0 (+1)	1,494 (-1%)	4mo	$224,000	$150	58
19 Sierra Rd	0.30mi	4/1.0 (+1)	1,300 (-14%)	3mo	$270,000	$208	55
271 Chestnut Ridge Rd	0.47mi	4/1.5 (+1)	1,364 (-10%)	8mo	$235,000	$172	48
14 Ascot Dr	0.72mi	3/2.0	1,592 (+5%)	6mo	$275,000	$173	48
20 White Birch Cir	0.63mi	4/1.5 (+1)	1,714 (+13%)	1mo	$350,000	$204	40

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: -0.6%
• Equity multiple: 0.98×
• Total profit: $-1,196
• Equity at exit: $28,315

10-year hold

• IRR: 9.1%
• Equity multiple: 1.70×
• Total profit: $37,313
• 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 14624

• Active inventory: 127
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,374 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$338 /mo · $4,053/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$499
• Net cashflow: $463

Break-even live

Break-even rent $1,788

Max offer price $189,900

Occupancy floor 76%

Sensitivity live

Price	-10% $570	-5% $517	+0% $463	+5% $409	+10% $355
Rent	-10% $275	-5% $369	+0% $463	+5% $557	+10% $650
Rate	-1.0pp $558	-0.5pp $511	base $463	+0.5pp $414	+1.0pp $364

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 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25 Red Bud Rd Rochester, NY	4.0	1.5	1568	$2,600	$1.66	19d	1	0.87mi

Listing history 2 events

1. 2026-05-05
   status Pending 757-char remark
2. 2026-04-26
   listed $189,900 Active 757-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: $4,053 · $338/mo
• Projected year-2 tax: $4,053 · $338/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 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,490
• − Mortgage interest: −$10,637
• − Property taxes: −$4,053
• − Insurance: −$950
• − Repairs & maintenance: −$2,279
• − Management: −$2,279
• − Depreciation: −$5,524
• Taxable income: $2,767
• Est. tax owed @ 24.0%: −$664
• After-tax cash flow: $4,890/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: Gates-Chili Central School District
• NCES district ID: 3611880
• Math proficiency: 41% ▼ -12.00%
• Reading proficiency: 42% ▼ -6.00%
• Median HH income: $55,045
• Composite: 36.23/100
• National rank: #4719
• State rank: #491 of 590 in NY

Livability — Gates

• Score: 67/100
• State rank: #582
• US rank: #10531

Category grades

Amenities F Commute F Cost of living B- Crime C Employment C+ 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
• Metro: Rochester, NY
• Population (ZIP): 38,626
• Household income: $87,989
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 584.0

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 (78%)
• Race & ethnicity: White 78% Black 9% Hispanic / Latino 6% Two or more races 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 6% Iranian 2% Lithuanian 2%
• Foreign-born: 7% · Canada, China, India
• Languages at home: 90% English-only · Spanish 3% Other Indo-European 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: ▼ -151.26%
• Current HPI: 267.356
• 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

• 2026-05-05 Pending — UNYREIS
• 2026-04-26 Listed $189,900 UNYREIS

Property tax history

+14.1%/yr

Latest (2025): $4,053 · +265.6% YoY. Source: county tax records.