1567 E Main St · Rochester, NY 14609

$164,900

4 bd · 3.0 ba · 2,741 sqft · MultiFamily public records · 9 Days on market

Built 1920 5,455 sqft lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• 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

Prime Turnkey Investment or Owner-Occupant Opportunity! Discover comfort, style, and strong investment potential in this beautifully upgraded two-family home. Fully move-in ready, it offers a projected annual gross rent of $38,400. Step inside to find freshly painted interiors, gleaming hardwood floors, crown molding, coffered ceilings, bay windows, built-ins, designer lighting, and high-end fixtures throughout. The home features six bedrooms and four full bathrooms, providing ample space and flexibility. Exterior highlights include a tear-off architectural shingle roof, updated electrical panels with riser cables, energy-efficient thermopane windows and doors, and a spacious 2.5-car

Key facts

• Coffered ceilings
• Two-family home
• Bay windows

Tags

• TWO-FAMILY HOME
• FRESHLY PAINTED INTERIORS
• GLEAMING HARDWOOD FLOORS
• CROWN MOLDING
• COFFERED CEILINGS
• BAY WINDOWS

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $165k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $165k).
• Cap rate 19.5% 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: 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.
• Zoned schools: School 28-Henry Hudson (math 12% / reading 27%, grade F, #1,992 of 2,108 statewide, top 95%, 616 students, 93% FRL); East Lower School (math 2% / reading 22%, grade F, #715 of 729 statewide, top 98%, 304 students, 86% FRL); Edison Career And Technology High School (math 44% / reading 50%, grade D-, #1,007 of 1,100 statewide, top 93%, 1,233 students, 91% FRL).
• Market conditions: Rents rising fast (+7.9%/yr); 199 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $3,605/mo this rent would consume 67% of the median local household income ($65k/yr) (locally 2183% 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 (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 (-3.0% appreciation + 7.9% rent growth), your $46k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,900

Questions for the listing agent

1. Built in 1920 — 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 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: 2.19% ✓
• Cap rate: 19.47%
• Cash-on-cash: 47.05%
• DSCR: 3.09
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $101,417
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
81 Quincy St	0.14mi	5/2.0 (+1)	2,626 (-4%)	20mo	$179,900	$69	60
125-127 Cedarwood #125	0.19mi	4/2.0	2,384 (-13%)	6mo	$117,000	$49	60
57 Grand Ave	0.59mi	4/2.0	2,846 (+4%)	19mo	$75,000	$26	46
29 Copeland St	0.67mi	4/3.0	2,495 (-9%)	16mo	$85,000	$34	41
66-68 Ackerman St	0.70mi	4/2.5	2,390 (-13%)	8mo	$88,000	$37	37

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 · 7.89% rent growth · sell at horizon

5-year hold

• IRR: 49.7%
• Equity multiple: 3.32×
• Total profit: $107,190
• Equity at exit: $24,587

10-year hold

• IRR: 57.1%
• Equity multiple: 8.07×
• Total profit: $326,297
• Equity at exit: $14,258

Cash invested: $46,172 (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 14609

• Home prices YoY: -30.4%
• Rents YoY: 7.9%
• Active inventory: 199
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $3,605 high
• Mortgage (P&I): −$865
• Tax from tax record: −$104 /mo · $1,249/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$757
• Net cashflow: $1,810

Break-even live

Break-even rent $1,313

Max offer price $164,900

Occupancy floor 45%

Sensitivity live

Price	-10% $1,904	-5% $1,857	+0% $1,810	+5% $1,764	+10% $1,717
Rent	-10% $1,526	-5% $1,668	+0% $1,810	+5% $1,953	+10% $2,095
Rate	-1.0pp $1,893	-0.5pp $1,852	base $1,810	+0.5pp $1,768	+1.0pp $1,724

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,604
Total (2 units)			$3,605

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
145 Macbeth St Rochester, NY	3.0	1.0	3484	$2,200	$0.63	4d	1	0.46mi
57 Calumet St Rochester, NY	3.0	3.0	2500	$2,250	$0.90	16d	1	1.04mi
256 Oxford St Unit 1 Rochester, NY	3.0	1.0	2050	$3,000	$1.46	16d	1	1.05mi
1786 Clifford Ave Rochester, NY	3.0	1.0	2404	$1,850	$0.77	5d	1	1.12mi
1788 Clifford Ave Rochester, NY	3.0	1.0	2404	$1,850	$0.77	4d	1	1.13mi
1 Champeney Ter Rochester, NY	3.0	1.0	1936	$1,650	$0.85	16d	1	1.13mi
176 Merwin Ave Rochester, NY	4.0	1.5	1750	$2,200	$1.26	45d	1	1.15mi

Listing history 6 events

1. 2025-11-25
   soldstatus $190,000
2. 2025-10-03
   status Pending
3. 2025-09-24
   listed $164,900 Active
4. 2005-06-21
   soldstatus $34,900
5. 2002-11-26
   soldstatus $42,500
6. 1997-04-11
   soldstatus $25,000

ⓘ 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: $1,249 · $104/mo
• Projected year-2 tax: $2,018 · $168/mo
• Expected delta: +$769/yr (+$64/mo · 61.6%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,260
• − Mortgage interest: −$9,237
• − Property taxes: −$1,249
• − Insurance: −$824
• − Repairs & maintenance: −$3,461
• − Management: −$3,461
• − Depreciation: −$4,797
• Taxable income: $20,231
• Est. tax owed @ 24.0%: −$4,855
• After-tax cash flow: $16,870/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): 40,274
• Household income: $64,603
• Rent vs Own: 36.1% rent · 63.9% own
• Severe rent burden: 2183.0

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 0.69)
• Race & ethnicity: White 44% Black 28% Hispanic / Latino 20% Two or more races 10% Asian 2%
• Hispanic origin (detail): Puerto Rican 15% Cuban 1% Dominican 1%
• Common ancestry: Romanian 4% Lithuanian 2% Iranian 1%
• Foreign-born: 8% · Canada
• Languages at home: 81% English-only · Spanish 14% Russian/Polish/Slavic 2% 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: ▼ -143.57%
• Current HPI: 328.7053
• Rent YoY: ▲ 7.89%
• 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

+660.0% since first listed

6 events — show timeline

• 2025-11-25 Sold (Public Records) $190,000 Public Records
• 2025-10-03 Pending — UNYREIS
• 2025-09-24 Listed $164,900 UNYREIS
• 2005-06-21 Sold (Public Records) $34,900 Public Records
• 2002-11-26 Sold (Public Records) $42,500 Public Records
• 1997-04-11 Sold (Public Records) $25,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $1,249 · +0.0% YoY. Source: county tax records.