97-99 Park Ave · Canandaigua, NY 14424

$384,900

8 bd · 3.0 ba · 2,880 sqft · MultiFamily · 28 Days on market

Built 1905 Fair condition 8,250 sqft lot $134/sqft · 7% below area Est $413k · 7% under ↓ 4% since listing

---

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 +25.5/30.0
• ARV discount +10.6/15.0
• DSCR +8.4/10.0
• 1% rule +6.7/10.0
• Schools +4.7/10.0
• Rent growth +4.6/5.0
• Livability +3.8/5.0
• Condition / age +2.2/5.0
• 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

AMAZING & RARE SIDE-BY-SIDE TWO-FAMILY ON PRIME PARK AVENUE IN THE CITY OF CANANDAIGUA! LOCATION! LOCATION! LOCATION! WALK TO EVERYTHING THE CITY OF CANANDAIGUA HAS TO OFFER, INCLUDING OUTSTANDING RESTAURANTS, BOUTIQUE SHOPS, ART GALLERIES, THE CMAC ENTERTAINMENT VENUE, AND KERSHAW PARK ON CANANDAIGUA LAKE. “PICTURE PERFECT” ARCHITECTURE INSIDE AND OUT — ABSOLUTELY BEAUTIFUL, IMMACULATE, AND TRULY TURN-KEY… READY TO MOVE RIGHT IN! MINT CONDITION! RARE INVESTMENT OPPORTUNITY: RENT OUT BOTH UNITS OR LIVE IN ONE AND RENT OUT THE OTHER. UNIT 97 FEATURES A COVERED AND ENCLOSED ENTRY PORCH, SPACIOUS LIVING ROOM, EXPANSIVE FAMILY ROOM WITH BRICK FIREPLACE OPEN TO THE

Key facts

• Prime park avenue
• Brick fireplace
• Excellent storage

Tags

• SIDE BY SIDE TWO FAMILY
• PRIME PARK AVENUE
• EXPANSIVE FAMILY ROOM
• BRICK FIREPLACE
• CHARMING OPEN FRONT PORCH
• EXCELLENT STORAGE

Property features AI

Finance

• Other: Operating expense details: See remarks
• Financial info: Two-unit property with separate gas and electric meters for each unit; Tenant pays all utilities

Exterior

• Parking: Garage (1 space); Paved parking; Multiple parking spaces available
• Utilities: Cable available; High-speed internet available; Sewer connected; Public water available; Circuit breaker electric
• Home design: 2 stories; Existing construction
• Construction: Vinyl siding; Copper plumbing; Asphalt and metal roof; Block and poured foundation
• Exterior features: Deck; Porch; Partial fencing; Private yard; Rectangular residential lot; City street frontage; See remarks

Interior

• Kitchen: Oven/Range; Refrigerator; Dishwasher
• Bedrooms: One unit with 3 bedrooms; One unit with 4 bedrooms
• Flooring: Carpet; Ceramic tile; Hardwood; Tile; Varies
• Bathrooms: Two full bathrooms (total) across units; Two half bathrooms (total) across units
• Heating & cooling: Gas forced-air heating
• Interior features: Thermal windows; Ceiling fan(s)
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.5-bath units multifamily listed at $385k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $894 ($11k/yr) — positive. Per door: $447/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $385k).
• Recommended offer: $379k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 3.4% in Canandaigua — 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 75/100 on livability (#243 in NY, #3,822 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, schools B+; Watch: employment C-, amenities F, health & safety D-.
• Canandaigua City School District (suburban): math 50% / reading 59% proficiency, ranked #305 of 590 in NY (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+8.5%/yr); 223 active listings in the ZIP; solid renter incomes; 284 units permitted in Ontario County in 2024 (69 in 5+ unit buildings).
• At $4,499/mo this rent would consume 68% of the median local household income ($80k/yr) (locally 737% 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 $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Ontario 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 + 8.0% rent growth), your $108k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($379k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $379,126 (1.5% below list)

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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.17% ✓
• Cap rate: 9.08%
• Cash-on-cash: 9.96%
• DSCR: 1.44
• GRM: 7.1

CMA / ARV

• ARV (median comp): $413,146
• List price: $384,900
• Delta: -6.84%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 4.2%
• Equity multiple: 1.17×
• Total profit: $18,429
• Equity at exit: $57,390

10-year hold

• IRR: 17.9%
• Equity multiple: 2.84×
• Total profit: $197,878
• Equity at exit: $33,279

Cash invested: $107,772 (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 14424

• Home prices YoY: -21.2%
• Rents YoY: 8.5%
• Active inventory: 223
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $4,499 medium
• Mortgage (P&I): −$2,018
• Tax est. 1.5%: −$481 /mo · $5,774/yr
• Insurance: −$160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$945
• Net cashflow: $894

Break-even live

Break-even rent $3,367

Max offer price $384,900

Occupancy floor 75%

Sensitivity live

Price	-10% $1,160	-5% $1,027	+0% $894	+5% $761	+10% $628
Rent	-10% $539	-5% $717	+0% $894	+5% $1,072	+10% $1,250
Rate	-1.0pp $1,088	-0.5pp $992	base $894	+0.5pp $795	+1.0pp $693

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1.5	$4,498
Total (2 units)			$4,499

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: $96,225
• Closing costs: $11,547
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-13
   status $384,900 Pending 28 DOM
2. 2026-06-10
   days on market $384,900 Active 28 DOM
3. 2026-06-09
   days on market $384,900 Active 27 DOM
4. 2026-06-09
   days on market $384,900 Active 26 DOM
5. 2026-06-07
   days on market $384,900 Active 25 DOM
6. 2026-06-03
   days on market $384,900 Active 21 DOM
7. 2026-06-03
   days on market $384,900 Active 20 DOM
8. 2026-06-01
   days on market $384,900 Active 19 DOM
9. 2026-05-31
   days on market $384,900 Active 18 DOM
10. 2026-05-13
    historical
11. 2026-05-13
    listed $384,900 Active 1554-char remark
12. 2026-04-17
    status Active
13. 2026-03-12
    historical Active Under Contract
14. 2026-02-25
    listed $399,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $53,988
• − Mortgage interest: −$21,560
• − Property taxes: −$5,774
• − Insurance: −$1,924
• − Repairs & maintenance: −$4,319
• − Management: −$4,319
• − Depreciation: −$11,197
• Taxable income: $4,894
• Est. tax owed @ 24.0%: −$1,175
• After-tax cash flow: $9,556/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.

Condition & rehab AI · 1 photo

Fair 45/100 Moderate rehab

This two-family home requires moderate renovations, including painting, flooring replacement, and kitchen/bathroom repairs. It offers a rare investment opportunity in a prime location.

Repairs flagged

• Major kitchen — No photos of kitchen
• Major bathrooms — No photos of bathrooms
• Major interior walls/paint — No photos of interior walls/paint
• Major HVAC/mechanicals — No photos of HVAC/mechanicals

Value-add opportunities

• Both paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both replace flooring — New flooring improves comfort and appearance
• Both repair kitchen and bathrooms — Renovated kitchens and bathrooms attract more buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen · No photos of kitchen	Major	$15,000–50,000
bathrooms · No photos of bathrooms	Major	$15,000–50,000
interior walls/paint · No photos of interior walls/paint	Major	$15,000–50,000
HVAC/mechanicals · No photos of HVAC/mechanicals	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace flooring — New flooring improves comfort and appearance ↑
• Both repair kitchen and bathrooms — Renovated kitchens and bathrooms attract more buyers and renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Canandaigua City School District
• NCES district ID: 3606330
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 59% ▲ 4.00%
• Median HH income: $56,375
• Composite: 47.09/100
• National rank: #2335
• State rank: #305 of 590 in NY

Livability — Canandaigua

• Score: 75/100
• State rank: #243
• US rank: #3822

Category grades

Amenities F Commute A+ Cost of living B Crime B- Employment C- Housing A+ Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Canandaigua, NY
• County: Ontario County · 58,989 people
• City population: 28,786
• Metro: Rochester, NY
• Population (ZIP): 28,786
• Household income: $79,778
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 737.0

Population outlook (Ontario County) Hauer SSP2

• Today (2025): 111,230 people
• By 2030: 111,401 · +0.2%
• By 2040: 109,535 · -1.5%
• By 2050: 104,895 · -5.7%
• By 2075: 92,999 · -16.4%
• By 2100: 73,723 · -33.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 5% Black 1%
• Common ancestry: Romanian 4% Iranian 4% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% German/W. Germanic 1% Arabic 1%

Political lean MEDSL · Ontario

• 2024 margin: Toss-up / Even · D 49.4% · R 50.6%
• 2008→2024 swing: -1.0pp toward R · 2008: -0.1pp · 2024: -1.2pp
• All cycles: 2024: R+1.2 2020: R+0.0 2016: R+8.6 2012: R+1.6 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.94%
• Current HPI: 263.755
• Rent YoY: ▲ 8.46%
• 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

-3.8% since first listed

6 events — show timeline

• 2026-06-10 Pending — UNYREIS
• 2026-05-13 Listing Removed — UNYREIS
• 2026-05-13 Listed $384,900 UNYREIS
• 2026-04-17 Relisted — UNYREIS
• 2026-03-12 Contingent — UNYREIS
• 2026-02-25 Listed $399,900 UNYREIS