48 Landau Dr · Gates, NY 14606

$169,777

3 bd · 1.0 ba · 1,092 sqft · SingleFamily public records · 7 Days on market

Built 1966 0.25 ac lot Est $225k · 25% 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 +12.2/30.0
• 1% rule +4.9/10.0
• Rent growth +4.1/5.0
• DSCR +3.6/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

WELCOME TO 48 LANDAU DR! This quiet, tree-lined street offers convenience with serenity. Enjoy one-level living close to shopping and expressways. This home is ready for your personal touches and ideas! You are greeted by an open and airy eat-in kitchen with tiled floors! The living room offers great space for entertaining with plenty of natural light. Down the hall you'll find 3 ample bedrooms with original hardwoods and fully tiled bathroom! Basement is partially finished, making it a great spot for hosting! Don't miss the opportunity at this well-maintained gem in the heart of Gates! OFFERS TO BE CONSIDERED ON MONDAY 4/20 at 11AM!

Key facts

• Tiled floors
• Eat in kitchen
• Natural light

Tags

• ONE LEVEL LIVING
• EAT IN KITCHEN
• TILED FLOORS
• NATURAL LIGHT
• PARTIALLY FINISHED BASEMENT
• WELL MAINTAINED GEM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-34 ($-411/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $167k (1.4% below list).
• Recommended offer: $164k (3.6% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 67/100 on livability (#582 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+; Watch: amenities F, commute 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 10d 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 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $163,719 (3.6% 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. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.99% ✗
• Cap rate: 6.05%
• Cash-on-cash: -0.87%
• DSCR: 0.96
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $224,952
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34 Landau Dr	0.11mi	4/2.0 (+1)	1,118 (+2%)	6mo	$285,600	$255	77
110 Howard Rd	0.53mi	3/1.0	1,056 (-3%)	1mo	$182,000	$172	69
17 Beechcraft Dr	0.50mi	3/1.0	1,032 (-6%)	2mo	$225,000	$218	66
12 Beechcraft Dr	0.47mi	3/1.0	1,144 (+5%)	7mo	$176,000	$154	64
32 Drexel Dr	0.63mi	3/2.0	1,144 (+5%)	2mo	$285,000	$249	57
36 Gatewood Ave	0.39mi	3/1.0	1,242 (+14%)	3mo	$260,000	$209	56
68 Elder St	0.49mi	3/1.5	1,200 (+10%)	6mo	$215,000	$179	54
24 Varian Ln	0.49mi	3/1.0	1,224 (+12%)	5mo	$170,000	$139	53
20 Jennie Ln	0.32mi	3/2.0	1,232 (+13%)	10mo	$269,000	$218	51
151 Gatewood Ave	0.52mi	2/1.0 (-1)	1,218 (+12%)	4mo	$179,540	$147	48
178 Ardella St	0.51mi	4/1.0 (+1)	1,246 (+14%)	4mo	$240,000	$193	45
19 Dawnhaven Dr	0.64mi	2/2.0 (-1)	1,191 (+9%)	8mo	$245,000	$206	39

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: -13.5%
• Equity multiple: 0.50×
• Total profit: $-23,848
• Equity at exit: $25,314

10-year hold

• IRR: 0.5%
• Equity multiple: 1.04×
• Total profit: $2,042
• Equity at exit: $14,679

Cash invested: $47,538 (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: 8.4×

Monthly cashflow live

• Estimated rent: $1,675 medium
• Mortgage (P&I): −$890
• Tax from tax record: −$396 /mo · $4,755/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $-34

Break-even live

Break-even rent $1,718

Max offer price $163,719

Occupancy floor 97%

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: $42,444
• Closing costs: $5,093
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
76 Dodge St Rochester, NY	1.0–2.0	1.0	742	$1,250	$1.68	43d	6	1.17mi
19 Garland Ave Rochester, NY	3.0	1.0	1104	$1,850	$1.68	2d	1	1.26mi
108 Wetmore Park Rochester, NY	3.0	2.0	1278	$1,900	$1.49	10d	1	1.48mi

Listing history 2 events

1. 2026-04-22
   status Pending
2. 2026-04-15
   listed $169,777 Active

ⓘ 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: $4,755 · $396/mo
• Projected year-2 tax: $4,755 · $396/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 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: $20,096
• − Mortgage interest: −$9,510
• − Property taxes: −$4,755
• − Insurance: −$849
• − Repairs & maintenance: −$1,608
• − Management: −$1,608
• − Depreciation: −$4,939
• Taxable loss: −$3,172
• Est. tax savings @ 24.0%: +$761
• After-tax cash flow: $350/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 — Gates

• Score: 67/100
• State rank: #582
• US rank: #10531

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gates, NY
• County: Monroe County · 674,131 people
• 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

2 events — show timeline

• 2026-04-22 Pending — UNYREIS
• 2026-04-15 Listed $169,777 UNYREIS

Property tax history

+14.4%/yr

Latest (2025): $4,755 · +189.7% YoY. Source: county tax records.