3764 Lake Ave · Rochester, NY 14612

$154,900

2 bd · 2.0 ba · 1,452 sqft · MultiFamily public records · 14 Days on market

Built 1900 0.34 ac lot Est $141k · 10% over

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Why this score? — see what drove the D+ 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 +21.4/30.0
• DSCR +6.8/10.0
• 1% rule +5.1/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• ARV discount +3.0/15.0
• 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 MLS

Multi-family home in great Charlotte location! This property features two 1 bedroom, 1 bath units, newer roof (2 years old), new siding, newer windows, new mechanics! Lower unit has wrap-around porch! 6 plus parking spots! Private setting! Great for owner occupant or investor!

Key facts

• Back yard
• Newer windows
• Vinyl siding

Tags

• VINYL SIDING
• NEWER WINDOWS
• UPDATED MECHANICS
• WRAP-AROUND PORCH
• OFF-STREET PARKING
• BACK YARD

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: Two-story existing residence
• Construction: Vinyl siding; Block and stone foundation
• Exterior features: Blacktop driveway; Irregular lot shape; Main thoroughfare road frontage; Lot dimensions approx. 82 x 180

Interior

• Kitchen: Gas water heater (appliance listed)
• Bedrooms: One main-level bedroom
• Flooring: Hardwood; Vinyl; Varies by room
• Bathrooms: Two full bathrooms; One full bathroom on the main level
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood and vinyl flooring; varies by room; Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $155k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).

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 (+5.4%/yr); 129 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).

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.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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 $80k; list at $155k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $154,900

Questions for the listing agent

1. Built in 1900 — 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. 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?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 1.01% ✓
• Cap rate: 8.07%
• Cash-on-cash: 6.33%
• DSCR: 1.28
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $140,844
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
117 Pollard Ave	0.72mi	3/2.0 (+1)	1,632 (+12%)	7mo	$158,000	$97	35

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 · 5.37% rent growth · sell at horizon

5-year hold

• IRR: -4.0%
• Equity multiple: 0.84×
• Total profit: $-6,723
• Equity at exit: $23,096

10-year hold

• IRR: 8.1%
• Equity multiple: 1.67×
• Total profit: $29,274
• Equity at exit: $13,393

Cash invested: $43,372 (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 14612

• Home prices YoY: -33.0%
• Rents YoY: 5.4%
• Active inventory: 129
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,562 high
• Mortgage (P&I): −$812
• Tax from tax record: −$128 /mo · $1,534/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $229

Break-even live

Break-even rent $1,272

Max offer price $154,900

Occupancy floor 80%

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3677 Lake Ave Rochester, NY	2.0	1.0	1088	$1,200	$1.10	43d	1	0.12mi
534-582 Denise Rd Unit 562 Rochester, NY	2.0	1.0	1000	$1,575	$1.57	2d	1	0.53mi
44 Windsor Rd Rochester, NY	3.0	1.0	882	$1,795	$2.04	2d	1	0.53mi
125 Windsor Rd Rochester, NY	2.0	1.0	1142	$1,700	$1.49	2d	1	0.56mi
360 Britton Rd Rochester, NY	1.0–2.0	1.0	837	$1,479	$1.77	2d	2	0.64mi
419 Britton Rd Rochester, NY	2.0	1.5	1025	$1,595	$1.56	2d	1	0.73mi
4302 Lake Ave Unit 1 Rochester, NY	3.0	1.5	1600	$3,000	$1.88	43d	1	0.78mi
304 Bakerdale Rd Rochester, NY	3.0	1.0	1256	$1,650	$1.31	44d	1	0.79mi
108 Glenbrook Rd Rochester, NY	3.0	1.0	1088	$1,850	$1.70	23d	1	0.90mi
4 Valley Brook Cir Greece, NY	2.0	1.5	1047	$2,306	$2.20	2d	3	1.00mi
500 Greenleaf Rd Rochester, NY	1.0–2.0	1.0	1176	$1,650	$1.40	2d	1	1.09mi
123 Spanish Trl Rochester, NY	1.0–2.0	1.0–1.5	945	$1,775	$1.88	2d	1	1.10mi
37 Linda Dr Unit 1 Rochester, NY	3.0	2.0	1600	$2,100	$1.31	43d	1	1.20mi
60 Cheltenham Rd Unit Down Rochester, NY	2.0	1.0	1014	$1,300	$1.28	14d	1	1.21mi
1255 Latta Rd Greece, NY	1.0–2.0	1.0	705	$1,570	$2.23	2d	5	1.49mi

Listing history 13 events

1. 2026-06-19
   status $154,900 Pending 14 DOM
2. 2026-06-18
   days on market $154,900 Active 14 DOM
3. 2026-06-17
   days on market $154,900 Active 13 DOM
4. 2026-06-16
   days on market $154,900 Active 12 DOM
5. 2026-06-15
   days on market $154,900 Active 11 DOM
6. 2026-06-13
   days on market $154,900 Active 9 DOM
7. 2026-06-13
   days on market $154,900 Active 8 DOM
8. 2026-06-10
   days on market $154,900 Active 6 DOM
9. 2026-06-09
   days on market $154,900 Active 5 DOM
10. 2026-06-09
    days on market $154,900 Active 4 DOM
11. 2026-06-07
    days on market $154,900 Active 3 DOM
12. 2026-06-05
    remarks 693-char remark
13. 2026-06-05
    listed $154,900 Active 1 DOM

ⓘ 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: $1,534 · $128/mo
• Projected year-2 tax: $2,076 · $173/mo
• Expected delta: +$542/yr (+$45/mo · 35.3%)

ⓘ 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: $18,739
• − Mortgage interest: −$8,677
• − Property taxes: −$1,534
• − Insurance: −$774
• − Repairs & maintenance: −$1,499
• − Management: −$1,499
• − Depreciation: −$4,506
• Taxable income: $249
• Est. tax owed @ 24.0%: −$60
• After-tax cash flow: $2,688/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): 35,152
• Household income: $82,800
• Rent vs Own: 26.7% rent · 73.3% own
• Severe rent burden: 1063.0

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 (78%)
• Race & ethnicity: White 78% Black 9% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 4% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -124.89%
• Current HPI: 254.157
• Rent YoY: ▲ 5.37%
• 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

+115.1% since first listed

7 events — show timeline

• 2026-06-04 Listed $154,900 UNYREIS
• 2018-07-26 Sold (Public Records) $79,800 Public Records
• 2018-07-25 Sold (MLS) $84,000 UNYREIS
• 2018-06-06 Pending — UNYREIS
• 2018-05-30 Pending — UNYREIS
• 2018-05-16 Listed $94,900 UNYREIS
• 1995-12-28 Sold (Public Records) $72,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $1,534 · -3.2% YoY. Source: county tax records.