22 Sullivan St · Rochester, NY 14605

$94,900

2 bd · 1.0 ba · 888 sqft · SingleFamily public records · 44 Days on market

Built 1920 3,284 sqft lot $107/sqft · 59% above area Est $73k · 30% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.4/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Move-in ready updated ranch in the Upper Falls neighborhood of the City of Rochester! This 3 bedroom and 1 bath home offers easy one-level living with updates throughout. Enjoy cooking in the brand new kitchen featuring oak cabinets, for plenty of storage, and a stylish tile backsplash. A large living room is filled with natural light and is open to the kitchen. All 3 bedrooms are spacious, including the 3rd bedroom addition that adds an additional 192 sqft to the home. Outside the fully fenced backyard offers the perfect green space for entertaining or gardening. Fresh paint throughout and vinyl windows provide energy efficiency and low maintenance. Plus a BRAND NEW C of O good until March 2031! This one is a great opportunity for comfortable and convenient living. Don’t miss it!

Key facts

• New kitchen
• Oak cabinets
• Updated ranch

Tags

• UPDATED RANCH
• ONE LEVEL LIVING
• NEW KITCHEN
• OAK CABINETS
• TILE BACKSPLASH
• FULLY FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $639 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.4% 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: 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.
• Zoned schools: School 9-Dr Martin Luther King Jr (math 2% / reading 12%, grade F, #2,087 of 2,108 statewide, top 99%, 620 students, 95% FRL); East Lower School (math 2% / reading 22%, grade F, #715 of 729 statewide, top 98%, 304 students, 86% FRL); Edison Career And Technology High School (math 44% / reading 50%, grade D-, #1,007 of 1,100 statewide, top 93%, 1,233 students, 91% FRL).
• Market conditions: 32 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($656 loan paydown + $784 appreciation (0.8% local appreciation)).
• Monroe County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (0.8% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y 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 $50k; list at $95k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $92,053 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 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 1920 — 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: 1.64% ✓
• Cap rate: 14.38%
• Cash-on-cash: 28.87%
• DSCR: 2.28
• GRM: 5.1

CMA / ARV

• ARV (median comp): $72,732
• List price: $94,900
• Delta: 30.48%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27 Radio St	0.16mi	3/1.0 (+1)	901 (+2%)	13mo	$40,000	$44	74
75 Mead St	0.14mi	2/1.0	988 (+11%)	8mo	$67,500	$68	68
73 Ketchum St	0.29mi	2/1.0	851 (-4%)	20mo	$30,000	$35	63
16 Oakman St	0.35mi	3/1.0 (+1)	920 (+4%)	15mo	$85,000	$92	60
79 Kohlman St	0.51mi	3/1.5 (+1)	940 (+6%)	1mo	$96,500	$103	59
201 Clifford Ave	0.36mi	3/1.0 (+1)	954 (+7%)	9mo	$55,000	$58	58
112 Bernard St	0.48mi	2/1.0	984 (+11%)	20mo	$35,000	$36	43
92 Ave C	0.66mi	3/1.0 (+1)	954 (+7%)	12mo	$60,000	$63	42
36 Weyl St	0.66mi	1/1.0 (-1)	789 (-11%)	5mo	$19,500	$25	41
362 Wilkins St	0.64mi	2/1.0	978 (+10%)	15mo	$12,500	$13	40
881 Clifford Ave	0.61mi	2/2.0	755 (-15%)	16mo	$41,200	$55	29
480 Remington St	0.74mi	3/1.0 (+1)	1,020 (+15%)	16mo	$74,900	$73	23

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.83% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.8%
• Equity multiple: 2.57×
• Total profit: $41,677
• Equity at exit: $31,541

10-year hold

• IRR: 33.5%
• Equity multiple: 4.97×
• Total profit: $105,506
• Equity at exit: $41,260

Cash invested: $26,572 (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 14605

• Home prices YoY: 0.4%
• Active inventory: 32
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,561 high
• Mortgage (P&I): −$498
• Tax from tax record: −$57 /mo · $679/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $639

Break-even live

Break-even rent $752

Max offer price $94,900

Occupancy floor 54%

Sensitivity live

Price	-10% $693	-5% $666	+0% $639	+5% $613	+10% $586
Rent	-10% $516	-5% $578	+0% $639	+5% $701	+10% $763
Rate	-1.0pp $687	-0.5pp $664	base $639	+0.5pp $615	+1.0pp $590

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 Maria St Unit 1 DN Rochester, NY	2.0	1.0	800	$895	$1.12	45d	1	0.25mi
144 Avenue C Rochester, NY	2.0	1.0	613	$1,050	$1.71	23d	1	0.63mi
76 Avenue A Unit Up Rochester, NY	3.0	1.0	796	$1,700	$2.14	45d	1	0.65mi
89 Twin Beeches Rochester, NY	2.0	1.5	1096	$1,250	$1.14	45d	1	0.93mi
84 Twin Beeches Rochester, NY	2.0	1.5	1096	$1,250	$1.14	25d	1	0.95mi
224 Mill St Unit 4B Rochester, NY	1.0	1.0	923	$1,700	$1.84	16d	1	0.96mi
216 Andrews St Rochester, NY	1.0	1.0	750	$1,200	$1.60	45d	1	0.98mi
493 Hollenbeck St Rochester, NY	2.0	1.5	936	$1,275	$1.36	16d	1	1.01mi
52 Lorimer St Unit 03 UP Rear Rochester, NY	2.0	1.0	700	$1,000	$1.43	25d	1	1.03mi
80 St Paul St Rochester, NY	1.0–2.0	1.5–2.5	1024	$1,935	$1.89	5d	3	1.08mi
25 Trust St Rochester, NY	3.0	1.5	1003	$1,600	$1.60	5d	1	1.09mi
152 Gibbs St Rochester, NY	1.0–2.0	1.0	950	$1,875	$1.97	15d	3	1.09mi
128 Gibbs St Unit 136 Rochester, NY	2.0	1.0	900	$1,795	$1.99	12d	1	1.12mi
128 Gibbs St Unit 130 Rochester, NY	2.0	1.0	1000	$1,875	$1.88	12d	1	1.12mi
200 Seth Green Dr Rochester, NY	1.0	1.0	517	$858	$1.66	45d	1	1.12mi
155 State St Rochester, NY	1.0	1.0	776	$1,450	$1.87	23d	1	1.12mi
155 State St Rochester, NY	1.0	1.0	672	$1,250	$1.86	45d	1	1.12mi
25 Franklin St Rochester, NY	1.0	1.0	720	$1,595	$2.22	4d	5	1.15mi
14 Franklin St Rochester, NY	2.0	1.0–2.0	1345	$3,477	$2.59	5d	8	1.15mi
260 E Main St Rochester, NY	3.0	1.0–2.0	1144	$2,532	$2.21	5d	14	1.16mi
86 Parkway Rochester, NY	3.0	1.0	602	$1,600	$2.66	5d	1	1.17mi
194 E Main St Rochester, NY	1.0–2.0	1.0–2.0	875	$2,095	$2.39	16d	1	1.17mi
39 Parkway Apt 1 Rochester, NY	2.0	1.0	700	$950	$1.36	45d	1	1.20mi
39 State St Rochester, NY	1.0–2.0	1.0–2.5	1154	$3,500	$3.03	5d	8	1.23mi
49 East Ave Apt 212 Rochester, NY	2.0	2.0	961	$2,572	$2.68	5d	1	1.23mi
183 E Main St Rochester, NY	1.0–2.0	1.0	1142	$2,870	$2.51	12d	28	1.24mi
11 Renwood St Unit Dn Rochester, NY	2.0	1.0	690	$1,095	$1.59	25d	1	1.25mi
49 Stone St #302 Rochester, NY	1.0	1.0	660	$1,345	$2.04	25d	1	1.28mi
49 Stone St #302 Rochester, NY	1.0	1.0	650	$1,345	$2.07	45d	1	1.28mi
49 Stone St #302 Rochester, NY	1.0	1.0	660	$1,345	$2.04	20d	1	1.28mi
49 Stone St #401 Rochester, NY	1.0	1.0	725	$1,550	$2.14	25d	1	1.28mi
111 East Ave Rochester, NY	2.0	1.0–2.0	614	$1,900	$3.09	45d	1	1.29mi
19 Rainier St Rochester, NY	1.0	1.0	786	$850	$1.08	5d	1	1.31mi
50 Chestnut St Rochester, NY	1.0	1.0	523	$1,669	$3.19	25d	1	1.31mi
171 Mohawk St Rochester, NY	3.0	2.0	1054	$1,775	$1.68	45d	1	1.33mi
254 Lexington Ave Rochester, NY	3.0	1.0	950	$1,350	$1.42	4d	1	1.33mi
200 East Ave Rochester, NY	1.0–2.0	1.0–2.5	936	$2,481	$2.65	45d	1	1.34mi
13 S Fitzhugh St Rochester, NY	1.0–2.0	1.5–2.0	890	$2,098	$2.36	12d	2	1.34mi
30 W Broad St Unit 208 Rochester, NY	1.0	1.0	924	$2,090	$2.26	25d	1	1.35mi
30 W Broad St Unit 203 Rochester, NY	1.0	1.0	700	$1,790	$2.56	12d	1	1.35mi

Listing history 13 events

1. 2026-05-07
   status Pending 797-char remark

   Show marketing remark (797 chars)

   Move-in ready updated ranch in the Upper Falls neighborhood of the City of Rochester! This 3 bedroom and 1 bath home offers easy one-level living with updates throughout. Enjoy cooking in the brand new kitchen featuring oak cabinets, for plenty of storage, and a stylish tile backsplash. A large living room is filled with natural light and is open to the kitchen. All 3 bedrooms are spacious, including the 3rd bedroom addition that adds an additional 192 sqft to the home. Outside the fully fenced backyard offers the perfect green space for entertaining or gardening. Fresh paint throughout and vinyl windows provide energy efficiency and low maintenance. Plus a BRAND NEW C of O good until March 2031! This one is a great opportunity for comfortable and convenient living. Don’t miss it!

2. 2026-03-24
   listed $94,900 Active 797-char remark

   Show marketing remark (797 chars)

   Move-in ready updated ranch in the Upper Falls neighborhood of the City of Rochester! This 3 bedroom and 1 bath home offers easy one-level living with updates throughout. Enjoy cooking in the brand new kitchen featuring oak cabinets, for plenty of storage, and a stylish tile backsplash. A large living room is filled with natural light and is open to the kitchen. All 3 bedrooms are spacious, including the 3rd bedroom addition that adds an additional 192 sqft to the home. Outside the fully fenced backyard offers the perfect green space for entertaining or gardening. Fresh paint throughout and vinyl windows provide energy efficiency and low maintenance. Plus a BRAND NEW C of O good until March 2031! This one is a great opportunity for comfortable and convenient living. Don’t miss it!

3. 2025-12-12
   historical
4. 2025-08-19
   listed $110,000 Active
5. 2025-08-19
   historical
6. 2025-07-16
   price $115,000
7. 2025-06-07
   listed $120,000 Active
8. 2024-05-10
   soldstatus $50,000 Closed
9. 2024-05-10
   soldstatus $50,000
10. 2024-03-18
    status Pending
11. 2024-02-01
    price $54,900
12. 2023-12-15
    listed $59,900 Active
13. 2010-09-28
    listed $19,900

ⓘ 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: $679 · $57/mo
• Projected year-2 tax: $1,141 · $95/mo
• Expected delta: +$462/yr (+$39/mo · 68.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% 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: $18,732
• − Mortgage interest: −$5,316
• − Property taxes: −$679
• − Insurance: −$474
• − Repairs & maintenance: −$1,499
• − Management: −$1,499
• − Depreciation: −$2,761
• Taxable income: $6,504
• Est. tax owed @ 24.0%: −$1,561
• After-tax cash flow: $6,111/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): 11,783
• Household income: $21,201
• Rent vs Own: 74.4% rent · 25.6% own
• Severe rent burden: 1108.0

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: Black 46% Hispanic / Latino 36% Two or more races 11% White 10% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 29% Cuban 2% Dominican 2%
• Common ancestry: Hispanic 1% Romanian 1%
• Foreign-born: 11% · Canada, China, India
• Languages at home: 64% English-only · Spanish 27% Other Indo-European 4% French/Haitian/Cajun 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: ▲ 0.83%
• Current HPI: 207.359
• Rent YoY: —
• 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

+376.9% since first listed

13 events — show timeline

• 2026-05-07 Pending — UNYREIS
• 2026-03-24 Listed $94,900 UNYREIS
• 2025-12-12 Listing Removed — UNYREIS
• 2025-08-19 Listing Removed — UNYREIS
• 2025-08-19 Listed $110,000 UNYREIS
• 2025-07-16 Price Changed $115,000 UNYREIS
• 2025-06-07 Listed $120,000 UNYREIS
• 2024-05-10 Sold (Public Records) $50,000 Public Records
• 2024-05-10 Sold (MLS) $50,000 UNYREIS
• 2024-03-18 Pending — UNYREIS
• 2024-02-01 Price Changed $54,900 UNYREIS
• 2023-12-15 Listed $59,900 UNYREIS
• 2010-09-28 Listed $19,900 UNYREIS

Property tax history

+9.1%/yr

Latest (2025): $679 · +0.0% YoY. Source: county tax records.