861 Smith St · Rochester, NY 14606

$80,000

4 bd · 1.0 ba · 1,764 sqft · SingleFamily public records · 37 Days on market

Built 1900 Est $99k · 19% 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
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 861 Smith Street & acirc; & euro; & rdquo; a spacious six-bedroom, two-bathroom home in Rochester & acirc; & euro; & trade; s 14606 zip code. This home has undergone recent renovations, including new windows and updated flooring, providing a strong foundation for continued improvements. With plenty of square footage and flexible living space, this property is ideal for large families, multi-generational living, or savvy investors looking to add value. While the home still needs some TLC, the major updates are already complete & acirc; & euro; & rdquo; making it a smart opportunity for the right buyer.

Key facts

• Recent renovations
• Updated flooring
• New windows

Tags

• RECENT RENOVATIONS
• NEW WINDOWS
• UPDATED FLOORING

Property features AI

Finance

• Other: Not specified
• Financial info: Not specified
• HOA & community: Not specified

Exterior

• Parking: Not specified
• Security: Not specified
• Utilities: Not specified
• Home design: Single-family property built in 1900; Living area approximately 1764
• Construction: Built in 1900
• Exterior features: Located in the Charles House Area Council subdivision

Interior

• Kitchen: Not specified
• Bedrooms: Not specified
• Flooring: Not specified
• Bathrooms: Not specified
• Heating & cooling: Not specified
• Interior features: Original details consistent with a 1900-built home
• Laundry & utility: Not specified

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $815 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.5% 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: 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 (+6.3%/yr); 124 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• This rent runs 38% of the median local income ($56k/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 $553 of loan paydown is wiped out by about $2k 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 + 6.3% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $63k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.19% ✓
• Cap rate: 18.51%
• Cash-on-cash: 43.64%
• DSCR: 2.94
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $98,784
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
225 Wilder St	0.34mi	4/2.0	1,720 (-2%)	10mo	$166,000	$97	68
19 Glasser St	0.11mi	5/1.0 (+1)	1,652 (-6%)	15mo	$90,000	$54	67
25 Danforth St	0.61mi	4/1.0	1,751 (-1%)	8mo	$48,501	$28	64
496 Colvin St	0.16mi	4/1.5	1,545 (-12%)	11mo	$75,900	$49	60
536 Maple St	0.35mi	4/2.0	1,845 (+5%)	15mo	$115,000	$62	60
48 Lisbon St	0.37mi	4/2.0	1,676 (-5%)	14mo	$89,900	$54	59
134 Cameron St	0.49mi	4/2.5	1,645 (-7%)	7mo	$50,000	$30	54
179 Parkway	0.56mi	5/2.0 (+1)	1,786 (+1%)	15mo	$99,900	$56	50
71 Lorenzo St	0.44mi	3/1.0 (-1)	1,544 (-12%)	6mo	$70,000	$45	49
170 Otis St	0.67mi	5/3.0 (+1)	1,830 (+4%)	1mo	$190,000	$104	49
145 Masseth St	0.29mi	3/1.5 (-1)	1,552 (-12%)	13mo	$130,000	$84	48
33 Wolff St	0.61mi	5/2.0 (+1)	1,630 (-8%)	5mo	$175,000	$107	46

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 · 6.28% rent growth · sell at horizon

5-year hold

• IRR: 44.3%
• Equity multiple: 3.01×
• Total profit: $44,935
• Equity at exit: $11,928

10-year hold

• IRR: 51.7%
• Equity multiple: 6.91×
• Total profit: $132,335
• Equity at exit: $6,917

Cash invested: $22,400 (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 14606

• Home prices YoY: -17.9%
• Rents YoY: 6.3%
• Active inventory: 124
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,754 high
• Mortgage (P&I): −$420
• Tax from tax record: −$118 /mo · $1,420/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $815

Break-even live

Break-even rent $723

Max offer price $80,000

Occupancy floor 49%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
649 Jay St Rochester, NY	5.0	2.0	2144	$2,000	$0.93	3d	1	0.05mi
385 Ames St Rochester, NY	3.0	1.5	1738	$1,500	$0.86	21d	1	0.34mi
2 Jay St Unit 2 Rochester, NY	3.0	1.0	1252	$1,045	$0.83	44d	1	0.86mi
48 Thorndale Ter Rochester, NY	4.0	1.5	1700	$1,400	$0.82	14d	1	0.87mi
478 Tremont St Rochester, NY	3.0	2.0	1424	$1,500	$1.05	44d	1	0.96mi
108 Wetmore Park Rochester, NY	3.0	2.0	1278	$1,900	$1.49	10d	1	0.96mi
190 Warwick Ave Rochester, NY	3.0	1.5	1240	$1,400	$1.13	44d	1	1.10mi
161 Fillmore St Rochester, NY	4.0	2.0	1612	$1,400	$0.87	14d	1	1.11mi
327 Glenwood Ave Rochester, NY	3.0	1.0	2012	$1,690	$0.84	3d	1	1.14mi
193 Reynolds St Rochester, NY	3.0	1.5	1342	$1,800	$1.34	21d	1	1.19mi
249 1/2 Columbia Ave #249 Rochester, NY	3.0	1.0	1600	$1,300	$0.81	14d	1	1.39mi
28-30 Carthage Dr Unit 28 Rochester, NY	3.0	1.0	1415	$1,600	$1.13	24d	1	1.44mi
98 Pierpont St Rochester, NY	3.0	1.0	1973	$1,295	$0.66	44d	1	1.47mi

Listing history 17 events

1. 2026-06-18
   days on market $80,000 Active 37 DOM
2. 2026-06-17
   days on market $80,000 Active 36 DOM
3. 2026-06-16
   days on market $80,000 Active 35 DOM
4. 2026-06-15
   days on market $80,000 Active 34 DOM
5. 2026-06-13
   days on market $80,000 Active 32 DOM
6. 2026-06-13
   days on market $80,000 Active 31 DOM
7. 2026-06-10
   days on market $80,000 Active 29 DOM
8. 2026-06-09
   days on market $80,000 Active 28 DOM
9. 2026-06-09
   days on market $80,000 Active 27 DOM
10. 2026-06-07
    days on market $80,000 Active 26 DOM
11. 2026-06-05
    days on market $80,000 Active 23 DOM
12. 2026-06-03
    days on market $80,000 Active 22 DOM
13. 2026-06-03
    days on market $80,000 Active 21 DOM
14. 2026-06-01
    days on market $80,000 Active 20 DOM
15. 2026-05-31
    days on market $80,000 Active 19 DOM
16. 2026-05-12
    listed $80,000 Active 598-char remark
17. 2024-02-12
    soldstatus $63,240

ⓘ 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: $1,420 · $118/mo
• Projected year-2 tax: $1,420 · $118/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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,050
• − Mortgage interest: −$4,481
• − Property taxes: −$1,420
• − Insurance: −$400
• − Repairs & maintenance: −$1,684
• − Management: −$1,684
• − Depreciation: −$2,327
• Taxable income: $9,053
• Est. tax owed @ 24.0%: −$2,173
• After-tax cash flow: $7,602/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): 25,538
• Household income: $55,807
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 986.0

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 0.64)
• Race & ethnicity: White 51% Black 26% Hispanic / Latino 17% Two or more races 8% Asian 3%
• Hispanic origin (detail): Puerto Rican 12% Cuban 2%
• Common ancestry: Romanian 3% Lithuanian 1% Iranian 1%
• Foreign-born: 10% · Canada, Vietnam, Philippines
• Languages at home: 79% English-only · Spanish 12% Other Indo-European 3% Other Asian/Pacific 2%

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: ▼ -62.59%
• Current HPI: 287.6868
• Rent YoY: ▲ 6.28%
• 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

+26.5% since first listed

2 events — show timeline

• 2026-05-12 Listed $80,000 FSBO.com
• 2024-02-12 Sold (Public Records) $63,240 Public Records

Property tax history

+11.4%/yr

Latest (2025): $1,420 · +98.5% YoY. Source: county tax records.