24 E Wabash St E · Rochester, NY 14609

$125,000

4 bd · 2.0 ba · 2,168 sqft · MultiFamily public records · 5 Days on market

Built 1899 4,356 sqft lot Est $128k · at est.

---

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
• ARV discount +8.5/15.0
• 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

Investor Opportunity!!! 2-family property with long-term tenants already in place , providing immediate rental income . Both units are occupied , making this turnkey investment opportunity. Strong cash flow potential in a convenient Rochester location. Whether you're looking to expand your portfolio or start investing in multifamily properties, this income producing property is one you wont want to miss . Schedule your showing today!

Key facts

• 2-family property
• 4,356 sq ft lot
• 2 parking spots

Tags

• 2-FAMILY PROPERTY
• IMMEDIATE RENTAL INCOME
• TURNKEY INVESTMENT OPPORTUNITY
• STRONG CASH FLOW POTENTIAL
• INCOME PRODUCING PROPERTY

Property features AI

Finance

• Financial info: Property configured as 2 units (each with separate gas and electric meters); Unit rents: one unit at $850, the other at $700; Operating expenses include insurance; Tenants pay all utilities

Exterior

• Parking: Two or more parking spaces
• Utilities: Electricity connected; Water connected (public); Sewer connected
• Home design: 2-story multifamily property; Resale condition
• Construction: Composite siding; Asphalt roof
• Exterior features: Balcony; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Oven/Range; Refrigerator; Eat-in kitchen
• Bedrooms: One unit with 3 bedrooms; One unit with 2 bedrooms
• Flooring: Laminate and varied flooring
• Bathrooms: Two full bathrooms total (each unit has 1 full bathroom)
• Heating & cooling: Gas forced-air heating
• Interior features: Attic
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $125k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $802/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $125k).
• Cap rate 21.7% 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; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $3,040/mo this rent would consume 56% 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 $864 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 $35k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,000

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 1899 — 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: 2.43% ✓
• Cap rate: 21.69%
• Cash-on-cash: 55.00%
• DSCR: 3.45
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $127,912
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3 8th St	0.03mi	4/2.0	2,113 (-2%)	15mo	$81,500	$39	82
140 Pennsylvania Ave	0.37mi	4/2.0	2,238 (+3%)	5mo	$138,000	$62	74
66-68 Ackerman St	0.24mi	4/2.5	2,390 (+10%)	8mo	$88,000	$37	62
38-40 Clairmount St	0.49mi	4/2.0	2,250 (+4%)	12mo	$95,000	$42	61
1286 E Main St	0.58mi	5/2.0 (+1)	2,212 (+2%)	8mo	$130,000	$59	58
1220 Clifford Ave	0.62mi	4/2.0	2,340 (+8%)	13mo	$100,000	$43	47
204 Fernwood Ave	0.60mi	4/2.0	2,482 (+14%)	2mo	$175,000	$71	46
125-127 Cedarwood #125	0.69mi	4/2.0	2,384 (+10%)	6mo	$117,000	$49	46
296 Parsells Ave	0.56mi	5/2.0 (+1)	1,904 (-12%)	4mo	$133,000	$70	45
—	0.55mi	5/3.0 (+1)	1,962 (-10%)	6mo	$81,000	$41	44
365 Hayward Ave	0.49mi	5/3.0 (+1)	1,990 (-8%)	15mo	$270,000	$136	42
992 Bay St	0.72mi	4/2.0	1,920 (-11%)	16mo	$152,000	$79	34

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: 58.6%
• Equity multiple: 3.79×
• Total profit: $97,612
• Equity at exit: $18,638

10-year hold

• IRR: 65.1%
• Equity multiple: 9.22×
• Total profit: $287,846
• Equity at exit: $10,808

Cash invested: $35,000 (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: $3,040 high
• Mortgage (P&I): −$656
• Tax from tax record: −$90 /mo · $1,079/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$638
• Net cashflow: $1,604

Break-even live

Break-even rent $1,009

Max offer price $125,000

Occupancy floor 42%

Sensitivity live

Price	-10% $1,675	-5% $1,639	+0% $1,604	+5% $1,569	+10% $1,533
Rent	-10% $1,364	-5% $1,484	+0% $1,604	+5% $1,724	+10% $1,844
Rate	-1.0pp $1,667	-0.5pp $1,636	base $1,604	+0.5pp $1,572	+1.0pp $1,539

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,040
Total (2 units)			$3,040

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
126 Parsells Ave Rochester, NY	3.0	1.0	1574	$1,800	$1.14	44d	1	0.39mi
126 Parsells Ave Rochester, NY	3.0	1.0	1574	$1,800	$1.14	22d	1	0.39mi
195 Parsells Ave Rochester, NY	4.0	1.0	1413	$1,265	$0.90	4d	1	0.48mi
1786 Clifford Ave Rochester, NY	3.0	1.0	2404	$1,850	$0.77	4d	1	0.56mi
1788 Clifford Ave Rochester, NY	3.0	1.0	2404	$1,850	$0.77	4d	1	0.56mi
1 Champeney Ter Rochester, NY	3.0	1.0	1936	$1,650	$0.85	15d	1	0.71mi
207 Lux St Rochester, NY	4.0	1.5	1728	$2,150	$1.24	11d	1	0.80mi
733 University Ave #3 Rochester, NY	3.0	1.5	1400	$1,850	$1.32	44d	1	1.03mi
59 Clark Ave Rochester, NY	4.0	1.0	1728	$1,800	$1.04	3d	1	1.35mi
256 Oxford St Unit 1 Rochester, NY	3.0	1.0	2050	$3,000	$1.46	15d	1	1.38mi
117 Northaven Ter Rochester, NY	4.0	2.0	1460	$1,975	$1.35	11d	1	1.41mi
260 E Main St Rochester, NY	3.0	1.0–2.0	1144	$2,999	$2.62	4d	14	1.49mi

Listing history 4 events

1. 2026-06-21
   days on market $125,000 Active 5 DOM
2. 2026-06-18
   days on market $125,000 Active 2 DOM
3. 2026-06-17
   remarks 437-char remark
4. 2026-06-17
   listed $125,000 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: $1,079 · $90/mo
• Projected year-2 tax: $1,596 · $133/mo
• Expected delta: +$517/yr (+$43/mo · 47.9%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $36,480
• − Mortgage interest: −$7,002
• − Property taxes: −$1,079
• − Insurance: −$625
• − Repairs & maintenance: −$2,918
• − Management: −$2,918
• − Depreciation: −$3,636
• Taxable income: $18,301
• Est. tax owed @ 24.0%: −$4,392
• After-tax cash flow: $14,857/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

1 event — show timeline

• 2026-06-16 Listed $125,000 UNYREIS

Property tax history

+2.8%/yr

Latest (2025): $1,079 · -2.0% YoY. Source: county tax records.