10 Lafayette Ave · Geneva, NY 14456

$95,000

3 bd · 2.0 ba · 1,380 sqft · MultiFamily public records · 49 Days on market

Built 1890 1,684 sqft lot $69/sqft · 35% below area Est $147k · 35% 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Check out this 2-family investment opportunity with tenants already in place, offering immediate income from day one. The property features separate utilities, helping streamline operations and keep expenses clearly allocated between units. The layout is straightforward and functional, supporting consistent rental use. With tenants in place, this is a chance to step into an existing income stream without the downtime, marketing, or initial vacancy risk that often comes with new acquisitions. Whether you’re adding to your portfolio or looking for a manageable multi-family entry point, this property offers a plug-and-play rental setup in an established market. Can be packaged with 36 Lafayette Ave.

Key facts

• Separate utilities
• 1,684 sq ft lot
• Built 1890

Tags

• SEPARATE UTILITIES
• EXISTING INCOME STREAM
• PLUG-AND-PLAY RENTAL SETUP

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $95k.

Deal economics

• At list price, monthly cash flow is $390 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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: schools D+, crime D+, employment D.
• 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.
• Market conditions: 122 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $657 of loan paydown is wiped out by about $3k 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 $27k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $52k; list at $95k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 1.53% ✓
• Cap rate: 11.22%
• Cash-on-cash: 17.61%
• DSCR: 1.78
• GRM: 5.5

CMA / ARV

• ARV (median comp): $146,899
• List price: $95,000
• Delta: -35.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.1%
• Equity multiple: 1.36×
• Total profit: $9,548
• Equity at exit: $14,165

10-year hold

• IRR: 18.3%
• Equity multiple: 2.53×
• Total profit: $40,661
• Equity at exit: $8,214

Cash invested: $26,600 (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: 122
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,450 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$217 /mo · $2,609/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $390

Break-even live

Break-even rent $956

Max offer price $95,000

Occupancy floor 68%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
300 Sheridan Park Unit 140 Geneva, NY	2.0	1.0	1045	$1,450	$1.39	2d	1	1.37mi

Listing history 9 events

1. 2026-06-07
   statusdays on market $95,000 Pending 49 DOM
2. 2026-06-04
   days on market $95,000 Active 48 DOM
3. 2026-06-02
   days on market $95,000 Active 47 DOM
4. 2026-06-01
   days on market $95,000 Active 46 DOM
5. 2026-05-31
   days on market $95,000 Active 45 DOM
6. 2026-05-11
   price $110,000 711-char remark

   Show marketing remark (711 chars)

   Check out this 2-family investment opportunity with tenants already in place, offering immediate income from day one. The property features separate utilities, helping streamline operations and keep expenses clearly allocated between units. The layout is straightforward and functional, supporting consistent rental use. With tenants in place, this is a chance to step into an existing income stream without the downtime, marketing, or initial vacancy risk that often comes with new acquisitions. Whether you’re adding to your portfolio or looking for a manageable multi-family entry point, this property offers a plug-and-play rental setup in an established market. Can be packaged with 36 Lafayette Ave.

7. 2026-04-27
   price $115,000 711-char remark

   Show marketing remark (711 chars)

   Check out this 2-family investment opportunity with tenants already in place, offering immediate income from day one. The property features separate utilities, helping streamline operations and keep expenses clearly allocated between units. The layout is straightforward and functional, supporting consistent rental use. With tenants in place, this is a chance to step into an existing income stream without the downtime, marketing, or initial vacancy risk that often comes with new acquisitions. Whether you’re adding to your portfolio or looking for a manageable multi-family entry point, this property offers a plug-and-play rental setup in an established market. Can be packaged with 36 Lafayette Ave.

8. 2026-04-16
   listed $120,000 Active 711-char remark

   Show marketing remark (711 chars)

   Check out this 2-family investment opportunity with tenants already in place, offering immediate income from day one. The property features separate utilities, helping streamline operations and keep expenses clearly allocated between units. The layout is straightforward and functional, supporting consistent rental use. With tenants in place, this is a chance to step into an existing income stream without the downtime, marketing, or initial vacancy risk that often comes with new acquisitions. Whether you’re adding to your portfolio or looking for a manageable multi-family entry point, this property offers a plug-and-play rental setup in an established market. Can be packaged with 36 Lafayette Ave.

9. 2004-10-14
   soldstatus $52,000

ⓘ 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: $2,609 · $217/mo
• Projected year-2 tax: $2,609 · $217/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: $17,400
• − Mortgage interest: −$5,321
• − Property taxes: −$2,609
• − Insurance: −$475
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$2,764
• Taxable income: $3,447
• Est. tax owed @ 24.0%: −$827
• After-tax cash flow: $3,857/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

+111.5% since first listed

4 events — show timeline

• 2026-05-11 Price Changed $110,000 UNYREIS
• 2026-04-27 Price Changed $115,000 UNYREIS
• 2026-04-16 Listed $120,000 UNYREIS
• 2004-10-14 Sold (Public Records) $52,000 Public Records

Property tax history

+7.9%/yr

Latest (2025): $2,609 · +0.3% YoY. Source: county tax records.