46 Elgin St · Rochester, NY 14611

$119,900

3 bd · 1.0 ba · 1,667 sqft · SingleFamily public records · 23 Days on market

Built 1899 3,300 sqft lot Est $210k · 43% under

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Why this score? — see what drove the A- 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
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Appreciation +3.5/10.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks

46 Elgin St – Turn-Key Investment Opportunity! This well-maintained single-family home offers strong rental potential in a prime location near the University of Rochester and local hospital systems. Featuring a spacious kitchen, formal dining room, and comfortable family room, this property provides plenty of living space for tenants. Upstairs includes 3 generously sized bedrooms and a full bath. Currently generating $1,574/month in rental income with professional property management already in place, making this an ideal addition to any investment portfolio. Conveniently located near shopping, dining, public transportation, and major employers. Great opportunity for both seasoned and

Key facts

• Formal dining room
• Spacious kitchen
• Prime location

Tags

• STRONG RENTAL POTENTIAL
• PRIME LOCATION
• SPACIOUS KITCHEN
• FORMAL DINING ROOM
• COMFORTABLE FAMILY ROOM
• GENEROUSLY SIZED BEDROOMS

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: 2-story home; Resale property
• Construction: Composite siding; Asphalt roof; Block foundation; Existing (year built not specified)
• Exterior features: Blacktop driveway; Open porch

Interior

• Kitchen: Appliances negotiable; Gas water heater
• Bedrooms: Total rooms: 8
• Flooring: Hardwood and varying flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas forced air heating
• Interior features: Eat-in kitchen; Family room; Full basement

🏷️ Possibly a rental listed for sale. The $119,900 price doesn't fit this home's estimated sale value (~$210,042) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $684 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.1% vs local median 9.3% in Rochester — 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 76/100 on livability (#222 in NY, #3,482 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, crime F, employment F.
• Rochester City School District (urban): math 21% / reading 26% proficiency, ranked #589 of 590 in NY (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.4%/yr); 78 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $1,811/mo this rent would consume 69% of the median local household income ($31k/yr) (locally 2168% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-2.9%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k 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.
• At projected returns (-2.9% appreciation + 6.4% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,101 (1.5% below list)

Questions for the listing agent

1. Built in 1899 — 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 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?
4. Crime grade is F 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?
5. 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.
6. 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.
7. 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: 1.51% ✓
• Cap rate: 13.14%
• Cash-on-cash: 24.45%
• DSCR: 2.09
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $210,042
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1283 Plymouth Ave S	0.10mi	4/2.0 (+1)	1,621 (-3%)	1mo	$200,000	$123	81
153 Barton St	0.17mi	3/2.0	1,525 (-8%)	2mo	$255,000	$167	72
117 Millbank St	0.42mi	4/2.0 (+1)	1,639 (-2%)	1mo	$173,000	$106	68
71 Aberdeen St	0.42mi	4/1.5 (+1)	1,740 (+4%)	2mo	$245,000	$141	64
53 Congress Ave	0.51mi	4/2.0 (+1)	1,625 (-2%)	2mo	$205,000	$126	62
14 Burlington Ave	0.71mi	3/1.5	1,721 (+3%)	1mo	$230,000	$134	59
392 Frost Ave	0.64mi	4/1.0 (+1)	1,569 (-6%)	2mo	$75,000	$48	54
15 Brookscrest Way	0.63mi	3/2.5	1,562 (-6%)	1mo	$329,900	$211	54
91 Columbia Ave	0.66mi	3/1.5	1,518 (-9%)	0mo	$145,000	$96	52
138 Ellicott St	0.58mi	3/1.0	1,894 (+14%)	0mo	$123,150	$65	50
84 Ellicott St	0.50mi	3/3.5	1,504 (-10%)	0mo	$223,000	$148	50
3 Fenwick St	0.63mi	3/1.0	1,908 (+14%)	1mo	$136,000	$71	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-2.93% appreciation · 6.37% rent growth · sell at horizon

5-year hold

• IRR: 21.5%
• Equity multiple: 1.92×
• Total profit: $30,812
• Equity at exit: $18,244

10-year hold

• IRR: 31.5%
• Equity multiple: 4.31×
• Total profit: $111,052
• Equity at exit: $10,998

Cash invested: $33,572 (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 14611

• Home prices YoY: -1.1%
• Rents YoY: 6.4%
• Active inventory: 78
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,811 high
• Mortgage (P&I): −$629
• Tax from tax record: −$68 /mo · $812/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $684

Break-even live

Break-even rent $945

Max offer price $119,900

Occupancy floor 57%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
686 Seward St Rochester, NY	3.0	1.5	1166	$1,600	$1.37	44d	1	0.05mi
367 Hawley St Rochester, NY	4.0	1.5	1210	$1,395	$1.15	44d	1	0.39mi
249 1/2 Columbia Ave #249 Rochester, NY	3.0	1.0	1600	$1,300	$0.81	14d	1	0.51mi
192 Bartlett St Unit 192 Rochester, NY	3.0	1.0	1099	$1,295	$1.18	14d	1	0.55mi
79 Evangeline St Rochester, NY	3.0	2.0	1876	$2,500	$1.33	2d	1	0.56mi
127 Congress Ave Rochester, NY	3.0	1.0	1200	$1,595	$1.33	44d	1	0.60mi
485 Sawyer St Unit 1 Rochester, NY	3.0	1.0	1400	$1,900	$1.36	44d	1	0.73mi
485 Sawyer St Rochester, NY	3.0	1.0	1400	$1,900	$1.36	2d	1	0.73mi
30 Flanders St Rochester, NY	3.0	1.5	1170	$1,650	$1.41	14d	1	0.73mi
793 Woodbine Ave Rochester, NY	4.0	1.0	1700	$2,200	$1.29	2d	1	0.75mi
193 Reynolds St Rochester, NY	3.0	1.5	1342	$1,800	$1.34	21d	1	0.75mi
190 Warwick Ave Rochester, NY	3.0	1.5	1240	$1,400	$1.13	44d	1	0.82mi
444-450 Brooks Ave Unit 446 Rochester, NY	4.0	2.0	1150	$3,100	$2.70	10d	1	0.82mi
1317 Genesee St Rochester, NY	3.0	2.0	1720	$2,550	$1.48	2d	1	0.82mi
102 Virginia Ave Rochester, NY	4.0	1.5	1453	$2,150	$1.48	2d	1	0.83mi
132 Anthony St Rochester, NY	3.0	1.0	1260	$1,500	$1.19	3d	1	0.88mi
478 Tremont St Rochester, NY	3.0	2.0	1424	$1,500	$1.05	44d	1	0.92mi
1331 Mt Hope Ave Rochester, NY	2.0	1.0–2.0	949	$2,725	$2.87	2d	5	1.03mi
75 Stewart St Rochester, NY	2.0	1.0	1840	$1,300	$0.71	19d	1	1.06mi
59 Gold St Rochester, NY	3.0	1.5	1264	$2,000	$1.58	44d	1	1.06mi
839 Elmwood Ave Rochester, NY	3.0	1.0	1500	$2,600	$1.73	23d	1	1.09mi
48 Thorndale Ter Rochester, NY	4.0	1.5	1700	$1,400	$0.82	14d	1	1.20mi
175 Lattimore Rd Rochester, NY	3.0	1.0	1480	$2,265	$1.53	14d	1	1.20mi
161 Fillmore St Rochester, NY	4.0	2.0	1612	$1,400	$0.87	14d	1	1.21mi
106 Gregory St Rochester, NY	3.0	1.5	1680	$1,995	$1.19	23d	1	1.23mi
94 Averill Ave Unit 2 Rochester, NY	2.0	1.0	1200	$1,500	$1.25	3d	1	1.34mi
1698 Mount Hope Ave Rochester, NY	2.0	1.0	1544	$1,550	$1.00	19d	1	1.37mi
51 Elmerston Rd Rochester, NY	3.0	2.0	1374	$2,400	$1.75	2d	1	1.40mi
136 Garfield St Rochester, NY	3.0	1.0	1152	$1,200	$1.04	19d	1	1.41mi
256 Gregory St Rochester, NY	3.0	1.0	1150	$1,700	$1.48	44d	1	1.44mi
54 Westmoreland Dr Rochester, NY	4.0	1.0	1230	$2,450	$1.99	2d	1	1.46mi
290 Exchange Blvd Rochester, NY	2.0	1.0–2.0	892	$2,102	$2.36	2d	15	1.48mi
42 S Washington St Rochester, NY	2.0	2.0	1298	$2,300	$1.77	44d	1	1.50mi
42 S Washington St Unit 401 Rochester, NY	2.0	2.0	1298	$2,300	$1.77	23d	1	1.50mi

Listing history 38 events

1. 2026-06-18
   days on market $119,900 Active 23 DOM
2. 2026-06-17
   days on market $119,900 Active 22 DOM
3. 2026-06-16
   days on market $119,900 Active 21 DOM
4. 2026-06-15
   days on market $119,900 Active 20 DOM
5. 2026-06-13
   days on market $119,900 Active 18 DOM
6. 2026-06-13
   days on market $119,900 Active 17 DOM
7. 2026-06-10
   days on market $119,900 Active 15 DOM
8. 2026-06-09
   days on market $119,900 Active 14 DOM
9. 2026-06-09
   days on market $119,900 Active 13 DOM
10. 2026-06-07
    days on market $119,900 Active 12 DOM
11. 2026-06-05
    days on market $119,900 Active 9 DOM
12. 2026-06-03
    days on market $119,900 Active 8 DOM
13. 2026-06-03
    days on market $119,900 Active 7 DOM
14. 2026-06-01
    days on market $119,900 Active 6 DOM
15. 2026-05-31
    days on market $119,900 Active 5 DOM
16. 2026-05-26
    listed $119,900 Active
17. 2026-03-06
    historical
18. 2026-01-14
    listed $124,900 Active
19. 2026-01-05
    historical $1,599
20. 2025-12-18
    price $1,599
21. 2025-12-18
    historical
22. 2025-12-10
    price $1,495
23. 2025-11-06
    listed $124,900 Active
24. 2025-10-31
    listed $1,595
25. 2025-10-29
    historical
26. 2025-09-03
    price $124,900
27. 2025-07-29
    listed $134,900 Active
28. 2025-07-13
    historical $1,590
29. 2025-07-07
    price $1,590
30. 2025-06-26
    price $1,595
31. 2025-06-13
    price $1,720
32. 2025-06-12
    price $1,695
33. 2025-05-24
    price $1,750
34. 2025-04-20
    listed $1,795
35. 2024-09-27
    soldstatus $180,000
36. 2017-06-01
    soldstatus $35,000 Closed Sale or Rented
37. 2017-04-30
    status Pending Sale
38. 2017-03-11
    listed $42,900 Active

ⓘ 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: $812 · $68/mo
• Projected year-2 tax: $1,419 · $118/mo
• Expected delta: +$607/yr (+$51/mo · 74.7%)

ⓘ 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 ≥96°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: $21,730
• − Mortgage interest: −$6,716
• − Property taxes: −$812
• − Insurance: −$600
• − Repairs & maintenance: −$1,738
• − Management: −$1,738
• − Depreciation: −$3,488
• Taxable income: $6,637
• Est. tax owed @ 24.0%: −$1,593
• After-tax cash flow: $6,617/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: Rochester City School District
• NCES district ID: 3624750
• Math proficiency: 21% ▬ 0.00%
• Reading proficiency: 26% ▲ 4.00%
• Median HH income: $30,923
• Composite: 18.98/100
• National rank: #8850
• State rank: #589 of 590 in NY

Livability — Rochester

• Score: 76/100
• State rank: #222
• US rank: #3482

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester, NY
• County: Monroe County · 674,131 people
• City population: 432,803
• Metro: Rochester, NY
• Population (ZIP): 17,145
• Household income: $31,376
• Rent vs Own: 64.5% rent · 35.5% own
• Severe rent burden: 2168.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 55% White 22% Hispanic / Latino 18% Two or more races 13% Asian 1%
• Hispanic origin (detail): Puerto Rican 14% Dominican 2%
• Common ancestry: Romanian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 85% English-only · Spanish 12% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -2.93%
• Current HPI: 262.1549
• Rent YoY: ▲ 6.37%
• 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

+179.5% since first listed

23 events — show timeline

• 2026-05-26 Listed $119,900 UNYREIS
• 2026-03-06 Listing Removed — UNYREIS
• 2026-01-14 Listed $124,900 UNYREIS
• 2026-01-05 Rental Removed $1,599 BUILDIUM
• 2025-12-18 Price Changed $1,599 BUILDIUM
• 2025-12-18 Listing Removed — UNYREIS
• 2025-12-10 Price Changed $1,495 BUILDIUM
• 2025-11-06 Listed $124,900 UNYREIS
• 2025-10-31 Listed for Rent $1,595 BUILDIUM
• 2025-10-29 Listing Removed — UNYREIS
• 2025-09-03 Price Changed $124,900 UNYREIS
• 2025-07-29 Listed $134,900 UNYREIS
• 2025-07-13 Rental Removed $1,590 BUILDIUM
• 2025-07-07 Price Changed $1,590 BUILDIUM
• 2025-06-26 Price Changed $1,595 BUILDIUM
• 2025-06-13 Price Changed $1,720 BUILDIUM
• 2025-06-12 Price Changed $1,695 BUILDIUM
• 2025-05-24 Price Changed $1,750 BUILDIUM
• 2025-04-20 Listed for Rent $1,795 BUILDIUM
• 2024-09-27 Sold (Public Records) $180,000 Public Records
• 2017-06-01 Sold (MLS) $35,000 UNYREIS
• 2017-04-30 Pending — UNYREIS
• 2017-03-11 Listed $42,900 UNYREIS

Property tax history

+4.8%/yr

Latest (2025): $812 · +0.0% YoY. Source: county tax records.