31 Cobbles Dr

East Rochester, NY 14526

$299,900D

4 bd · 2.0 ba · 2,436 sqft · Built 1957 · SingleFamily · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,301/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$720
• HOA: −$0
• Vac / Maint / Mgmt: −$483
• Net cashflow: $-475/mo
• Annual: $-5,699/yr
• Cap rate: 4.39%
• Cash-on-cash: -6.79%
• DSCR: 0.70
• 1% rule: 0.77%
• Cash to close: $83,972

Investor read

• This is a 4-bed/2.0-bath single-family listed at $300k.
• At list price, monthly cash flow is $-475 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (28.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (23.3% below list).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $216k (28.0% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#155 in NY, #2,400 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: employment D+, crime D.
• Penfield Central School District (suburban): math 77% / reading 79% proficiency, ranked #67 of 590 in NY (top 11%) — strong family-tenant draw, lease renewals of 3-5y typical; only 11% free/reduced lunch — higher-income household profile.
• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 113 active listings in the ZIP; high-income renter base; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• Monroe County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Questions for listing agent

• 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?
• Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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?
• 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?
• 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?
• 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.
• 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.