50-52 Melville St · Rochester, NY 14609

$129,000

6 bd · 2.0 ba · 1,923 sqft · MultiFamily public records · 7 Days on market

Built 1900 5,227 sqft lot $67/sqft · 24% below area Est $170k · 24% 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 +4.5/5.0
• 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: 2 units. confirmed

Listing remarks

Spacious up-and-down two-family property in a highly accessible location near the Rochester Public Market and just around the corner from the Inner Loop. This versatile multi-family home features large eat-in kitchens in both units, generous living spaces, and original hardwood floors throughout the common areas, adding timeless character and charm. The property offers a large front porch, shared driveway with off-street tenant parking, and vinyl replacement windows throughout for improved efficiency and low maintenance. Conveniently located with quick access to downtown, shopping, dining, and major routes. A strong addition to any investment portfolio with solid rental appeal and classic R

Key facts

• Large front porch
• Two-family property
• 5,227 sq ft lot

Tags

• TWO-FAMILY PROPERTY
• LARGE EAT-IN KITCHENS
• ORIGINAL HARDWOOD FLOORS
• LARGE FRONT PORCH
• VINYL REPLACEMENT WINDOWS
• QUICK ACCESS TO DOWNTOWN

Property features AI

Finance

• Other: Two separate gas meters; Two separate electric meters; Two total units in the building
• Financial info: Owner pays trash collection and water for rental units; Operating expenses include trash and water/sewer
• HOA & community: No HOA information provided

Exterior

• Parking: Common paved parking with two or more spaces
• Security: No security features provided
• Utilities: High-speed internet available; Public water connected; Sewer connected
• Home design: Two-story residential 2-unit property; Existing (resale) condition
• Construction: Composite siding; Asphalt roof; Stone foundation; Built (existing) — year not specified
• Exterior features: Irregular lot; Near public transit; Paved common parking with two or more spaces

Interior

• Kitchen: No kitchen-specific appliance list provided
• Bedrooms: 2-unit property (unit breakdown not provided)
• Flooring: Hardwood; Linoleum; Vinyl; Varies
• Bathrooms: 2 full bathrooms (total)
• Heating & cooling: Gas forced air heating
• Interior features: Full basement; Varied flooring throughout
• Laundry & utility: Gas water heater

🏷️ Possibly a rental listed for sale. The $129,000 price doesn't fit this home's estimated sale value (~$170,334) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $129k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $810/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $129k).
• Cap rate 21.4% 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 (+7.9%/yr); 199 active listings in the ZIP; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $3,110/mo this rent would consume 58% 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 $892 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $100k; 29% 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 $129,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.41% ✓
• Cap rate: 21.36%
• Cash-on-cash: 53.80%
• DSCR: 3.39
• GRM: 3.5

CMA / ARV

• ARV (median comp): $170,334
• List price: $129,000
• Delta: -24.27%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
296 Parsells Ave	0.29mi	5/2.0 (-1)	1,904 (-1%)	4mo	$133,000	$70	76
—	0.30mi	5/3.0 (-1)	1,962 (+2%)	6mo	$81,000	$41	69
37 Diringer Pl	0.17mi	6/2.0	2,160 (+12%)	10mo	$130,000	$60	63
365 Hayward Ave	0.37mi	5/3.0 (-1)	1,990 (+4%)	15mo	$270,000	$136	56
484 Central Park	0.32mi	6/3.0	2,091 (+9%)	23mo	$130,000	$62	47
1744 Clifford Ave	0.66mi	5/2.5 (-1)	1,832 (-5%)	15mo	$72,000	$39	42

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: 57.3%
• Equity multiple: 3.72×
• Total profit: $98,300
• Equity at exit: $19,234

10-year hold

• IRR: 63.9%
• Equity multiple: 9.07×
• Total profit: $291,364
• Equity at exit: $11,154

Cash invested: $36,120 (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: 6.9×

Monthly cashflow live

• Estimated rent: $3,110 high
• Mortgage (P&I): −$676
• Tax from tax record: −$107 /mo · $1,289/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$653
• Net cashflow: $1,619

Break-even live

Break-even rent $1,060

Max offer price $129,000

Occupancy floor 43%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,110
Total (2 units)			$3,110

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-15
   listed $129,000 Active 863-char remark
2. 2025-02-18
   soldstatus $100,000
3. 2022-03-18
   soldstatus $85,000
4. 2009-08-10
   soldstatus $46,000
5. 2008-12-11
   soldstatus $15,000
6. 2003-11-03
   soldstatus $39,900

ⓘ 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: $1,289 · $107/mo
• Projected year-2 tax: $1,734 · $145/mo
• Expected delta: +$446/yr (+$37/mo · 34.6%)

ⓘ 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: $37,320
• − Mortgage interest: −$7,226
• − Property taxes: −$1,289
• − Insurance: −$645
• − Repairs & maintenance: −$2,986
• − Management: −$2,986
• − Depreciation: −$3,753
• Taxable income: $18,436
• Est. tax owed @ 24.0%: −$4,425
• After-tax cash flow: $15,007/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

+223.3% since first listed

7 events — show timeline

• 2026-05-22 Pending — UNYREIS
• 2026-05-15 Listed $129,000 UNYREIS
• 2025-02-18 Sold (Public Records) $100,000 Public Records
• 2022-03-18 Sold (Public Records) $85,000 Public Records
• 2009-08-10 Sold (Public Records) $46,000 Public Records
• 2008-12-11 Sold (Public Records) $15,000 Public Records
• 2003-11-03 Sold (Public Records) $39,900 Public Records

Property tax history

+2.8%/yr

Latest (2025): $1,289 · -14.1% YoY. Source: county tax records.