275 Norwood Ave · North Gates, NY 14606

$179,900

3 bd · 2.0 ba · 1,174 sqft · SingleFamily public records · 6 Days on market

Built 2000 4,356 sqft lot Est $250k · 28% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +10.2/30.0
• 1% rule +4.4/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Schools +3.6/10.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sweet 3 Bdrm Ranch! House is much newer than 1960?! It was built in late 80's on a 1960 foundation!! And very well maintained!! Vinyl sided! Completely freshened up! Carpets & Paint! Hardwood look Laminate flooring! Clean as can be. Skylight in Living room and Bath!! First floor laundry in 3rd bedroom closet! So convenient!! Rear deck overlooks private yard! Nice sized rooms! Attached garage!!! Great location! Ready for quick occupancy!! Delayed negotiations until Wednesday, May 12 at 3:00 PM.

Key facts

• Kitchen updates
• Soft close cabinets
• One level living

Tags

• ONE LEVEL LIVING
• VAULTED CEILINGS
• SKYLIGHTS
• KITCHEN UPDATES
• SOLID SURFACE COUNTER TOPS
• SOFT CLOSE CABINETS

Property features AI

Exterior

• Parking: Attached garage with garage door opener (1 car)
• Utilities: Public water (connected); Sewer connected
• Home design: Single-story home; Existing/resale property; City street frontage; Rectangular residential lot (approx. 40 x 115)
• Construction: Vinyl siding; Spray foam insulation; Asphalt roof; Block foundation; Built previously (existing)
• Exterior features: Blacktop driveway; Deck; Covered porch

Interior

• Kitchen: Electric oven and range; Dishwasher; Microwave; Refrigerator; Pantry; Eat-in kitchen; Solid surface counters
• Bedrooms: 3 main-level bedrooms
• Flooring: Carpet; Luxury vinyl; Varies
• Bathrooms: 2 full bathrooms (1 on the main level)
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Pantry; Solid surface counters; Programmable thermostat; Main level primary bedroom; Bedroom on main level; Has basement (full, crawl space) with sump pump
• Laundry & utility: Washer and dryer included; Laundry on main level and in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-101 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $162k (9.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (5.7% below list).
• Recommended offer: $162k (9.9% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 75/100 on livability (#245 in NY, #3,859 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: crime D, schools F, amenities F.
• Gates-Chili Central School District (suburban): math 41% / reading 42% proficiency, ranked #491 of 590 in NY (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.3%/yr); 124 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• This rent runs 36% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 $145k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price.

Recommended offer $162,036 (9.9% below list)

Questions for the listing agent

1. 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?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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 D 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. 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?
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 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: 0.94% ✗
• Cap rate: 5.62%
• Cash-on-cash: -2.41%
• DSCR: 0.89
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $250,062
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
301 Downsview Dr	0.09mi	3/1.5	1,040 (-11%)	1mo	$222,000	$213	74
24 Bobbie Dr	0.31mi	3/2.0	1,092 (-7%)	2mo	$245,000	$224	72
23 Bobbie Dr	0.37mi	3/1.0	1,092 (-7%)	3mo	$220,000	$201	65
134 Norwood Ave	0.21mi	2/1.0 (-1)	1,060 (-10%)	4mo	$67,500	$64	62
44 Ford Ave	0.40mi	3/2.0	1,308 (+11%)	3mo	$174,900	$134	60
22 Morningstar Dr	0.46mi	3/1.0	1,092 (-7%)	4mo	$235,000	$215	60
69 Youngs Ave	0.36mi	3/1.0	1,036 (-12%)	2mo	$110,000	$106	58
9 E Crest Dr	0.71mi	3/1.0	1,144 (-3%)	2mo	$254,000	$222	57
84 Kentucky Ave	0.57mi	3/2.0	1,078 (-8%)	4mo	$218,000	$202	57
153 Donna Marie Cir N	0.67mi	3/1.0	1,118 (-5%)	2mo	$275,000	$246	55
19 Morningstar Dr	0.49mi	3/1.5	1,318 (+12%)	1mo	$257,000	$195	54
37 Abbottsford Dr	0.73mi	3/1.0	1,122 (-4%)	3mo	$271,000	$242	52

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 · 6.28% rent growth · sell at horizon

5-year hold

• IRR: -16.0%
• Equity multiple: 0.41×
• Total profit: $-29,661
• Equity at exit: $26,824

10-year hold

• IRR: -2.0%
• Equity multiple: 0.84×
• Total profit: $-8,130
• Equity at exit: $15,554

Cash invested: $50,372 (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 14606

• Home prices YoY: -17.9%
• Rents YoY: 6.3%
• Active inventory: 124
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,697 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$423 /mo · $5,080/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $-101

Break-even live

Break-even rent $1,825

Max offer price $162,036

Occupancy floor —

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
155 Canal Landing Blvd Rochester, NY	1.0–3.0	1.5–2.0	1174	$2,050	$1.75	2d	5	1.06mi
3546 Lyell Rd Rochester, NY	2.0	1.0	730	$1,395	$1.91	21d	1	1.06mi
40 Hazelhurst Dr Gates, NY	2.0	1.0	635	$1,440	$2.27	2d	20	1.18mi

Listing history 6 events

1. 2026-06-10
   status $179,900 Pending 6 DOM
2. 2026-06-09
   days on market $179,900 Active 6 DOM
3. 2026-06-09
   days on market $179,900 Active 5 DOM
4. 2026-06-07
   days on market $179,900 Active 4 DOM
5. 2026-06-03
   remarks 683-char remark
6. 2026-06-03
   listed $179,900 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: $5,080 · $423/mo
• Projected year-2 tax: $5,080 · $423/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 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: $20,363
• − Mortgage interest: −$10,077
• − Property taxes: −$5,080
• − Insurance: −$900
• − Repairs & maintenance: −$1,629
• − Management: −$1,629
• − Depreciation: −$5,233
• Taxable loss: −$4,185
• Est. tax savings @ 24.0%: +$1,004
• After-tax cash flow: $-209/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: Gates-Chili Central School District
• NCES district ID: 3611880
• Math proficiency: 41% ▼ -12.00%
• Reading proficiency: 42% ▼ -6.00%
• Median HH income: $55,045
• Composite: 36.23/100
• National rank: #4719
• State rank: #491 of 590 in NY

Livability — North Gates

• Score: 75/100
• State rank: #245
• US rank: #3859

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Gates, NY
• County: Monroe County · 674,131 people
• City population: 27,478
• Metro: Rochester, NY
• Population (ZIP): 25,538
• Household income: $55,807
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 986.0

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: White 51% Black 26% Hispanic / Latino 17% Two or more races 8% Asian 3%
• Hispanic origin (detail): Puerto Rican 12% Cuban 2%
• Common ancestry: Romanian 3% Lithuanian 1% Iranian 1%
• Foreign-born: 10% · Canada, Vietnam, Philippines
• Languages at home: 79% English-only · Spanish 12% Other Indo-European 3% Other Asian/Pacific 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: ▼ -62.59%
• Current HPI: 287.6868
• Rent YoY: ▲ 6.28%
• 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

+41.1% since first listed

5 events — show timeline

• 2026-06-03 Listed $179,900 UNYREIS
• 2021-07-19 Sold (MLS) $145,000 UNYREIS
• 2021-07-14 Sold (Public Records) $145,000 Public Records
• 2021-05-13 Pending — UNYREIS
• 2021-05-07 Listed $127,500 UNYREIS

Property tax history

+5.1%/yr

Latest (2025): $5,080 · +18.1% YoY. Source: county tax records.