48 Chester Ave · Rochester Institute of Technology, NY 14623

$200,000

4 bd · 2.0 ba · 1,724 sqft · SingleFamily public records · 12 Days on market

Built 1950 0.28 ac lot Est $240k · 17% 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 +25.8/30.0
• ARV discount +14.9/15.0
• DSCR +8.6/10.0
• 1% rule +7.6/10.0
• Schools +4.5/10.0
• Rent growth +4.0/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This lovley home has so much to offer! Located close to amenities. Large open floor plan that is great for entertaining. With 4 bedrooms and 2 baths, it is a rare opportunity! Situated on a large private lot. Enclosed deck in backyard that is great for entertaining!

Key facts

• Wooded views
• Open layout
• Granite countertops

Tags

• WOODED VIEWS
• OPEN LAYOUT
• GRANITE COUNTERTOPS
• FLEXIBLE LIVING SPACE
• HOME OFFICE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $430 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Cap rate 9.2% vs local median 3.8% in Rochester Institute of Technology — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Wheatland-Chili Central School District (suburban): math 46% / reading 57% proficiency, ranked #341 of 590 in NY (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+6.1%/yr); 48 active listings in the ZIP; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $2,515/mo this rent would consume 46% of the median local household income ($65k/yr) (locally 1161% 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 $6k 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 + 6.1% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 12y 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.
• Current owner paid $68k; list at $200k implies a 196% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $200,000

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.26% ✓
• Cap rate: 9.20%
• Cash-on-cash: 10.40%
• DSCR: 1.46
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $239,636
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
48 Chester Ave	0.00mi	4/2.0	1,724 (0%)	0mo	$230,000	$133	100
3 Celia Dr	0.52mi	4/2.0	1,720 (-0%)	1mo	$260,000	$151	75
35 Ballantyne Rd	0.40mi	4/2.0	1,906 (+11%)	12mo	$260,000	$136	53
3215 E River Rd	0.58mi	3/1.5 (-1)	1,515 (-12%)	9mo	$210,000	$139	38

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 · 6.06% rent growth · sell at horizon

5-year hold

• IRR: 1.4%
• Equity multiple: 1.05×
• Total profit: $3,079
• Equity at exit: $29,821

10-year hold

• IRR: 14.1%
• Equity multiple: 2.31×
• Total profit: $73,382
• Equity at exit: $17,292

Cash invested: $56,000 (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 14623

• Rents YoY: 6.1%
• Active inventory: 48
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,515 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$370 /mo · $4,438/yr
• Insurance: −$83
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $430

Break-even live

Break-even rent $1,972

Max offer price $200,000

Occupancy floor 78%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-27
   status Pending
2. 2026-04-15
   listed $200,000 Active
3. 2016-07-14
   historical 266-char remark

   Show marketing remark (266 chars)

   This lovley home has so much to offer! Located close to amenities. Large open floor plan that is great for entertaining. With 4 bedrooms and 2 baths, it is a rare opportunity! Situated on a large private lot. Enclosed deck in backyard that is great for entertaining!

4. 2015-08-25
   soldstatus $67,500 266-char remark

   Show marketing remark (266 chars)

   This lovley home has so much to offer! Located close to amenities. Large open floor plan that is great for entertaining. With 4 bedrooms and 2 baths, it is a rare opportunity! Situated on a large private lot. Enclosed deck in backyard that is great for entertaining!

5. 2015-03-03
   listed $72,500 266-char remark

   Show marketing remark (266 chars)

   This lovley home has so much to offer! Located close to amenities. Large open floor plan that is great for entertaining. With 4 bedrooms and 2 baths, it is a rare opportunity! Situated on a large private lot. Enclosed deck in backyard that is great for entertaining!

6. 2014-03-03
   listed $89,900
7. 1993-08-18
   soldstatus $77,900

ⓘ 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: $4,438 · $370/mo
• Projected year-2 tax: $4,438 · $370/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 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,184
• − Mortgage interest: −$11,203
• − Property taxes: −$4,438
• − Insurance: −$1,666
• − Repairs & maintenance: −$2,415
• − Management: −$2,415
• − Depreciation: −$5,818
• Taxable income: $2,229
• Est. tax owed @ 24.0%: −$535
• After-tax cash flow: $4,620/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: Wheatland-Chili Central School District
• NCES district ID: 3631170
• Math proficiency: 46% ▲ 8.00%
• Reading proficiency: 57% ▲ 15.00%
• Median HH income: $57,303
• Composite: 44.69/100
• National rank: #2758
• State rank: #341 of 590 in NY

Livability — Rochester Institute of Technology

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Monroe County · 674,131 people
• Metro: Rochester, NY
• Population (ZIP): 26,032
• Household income: $65,342
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 1161.0

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: Predominantly White (67%)
• Race & ethnicity: White 67% Asian 15% Black 8% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 4% Iranian 2% Lithuanian 2%
• Foreign-born: 14% · China, Canada, Vietnam
• Languages at home: 84% English-only · Chinese 4% Other Indo-European 3% Spanish 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: ▼ -180.68%
• Current HPI: 262.8187
• Rent YoY: ▲ 6.06%
• 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

+156.7% since first listed

7 events — show timeline

• 2026-04-27 Pending — UNYREIS
• 2026-04-15 Listed $200,000 UNYREIS
• 2016-07-14 Listing Removed — UNYREIS
• 2015-08-25 Sold (MLS) $67,500 UNYREIS
• 2015-03-03 Listed $72,500 UNYREIS
• 2014-03-03 Listed $89,900 UNYREIS
• 1993-08-18 Sold (Public Records) $77,900 Public Records

Property tax history

+6.4%/yr

Latest (2025): $4,438 · +1.6% YoY. Source: county tax records.