105 Oneta Rd

Irondequoit, NY 14617

$259,900D

3 bd · 1.5 ba · 1,448 sqft · Built 1952 · SingleFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,172/mo
• Mortgage (P&I): −$1,363
• Tax + insurance: −$777
• HOA: −$0
• Vac / Maint / Mgmt: −$456
• Net cashflow: $-424/mo
• Annual: $-5,093/yr
• Cap rate: 4.33%
• Cash-on-cash: -7.00%
• DSCR: 0.69
• 1% rule: 0.84%
• Cash to close: $72,772

Investor read

• This is a 3-bed/1.5-bath single-family listed at $260k.
• At list price, monthly cash flow is $-424 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $185k (28.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $217k (16.4% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $185k (28.8% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#92 in NY, #1,414 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, crime B+; Watch: amenities F.
• West Irondequoit Central School District (suburban): math 73% / reading 70% proficiency, ranked #126 of 590 in NY (top 21%) — strong family-tenant draw, lease renewals of 3-5y typical; only 18% free/reduced lunch — higher-income household profile.
• Watch-outs: property tax is 3.1% of price; built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 104 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• Monroe County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 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 $202k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• 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.
• 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.