152 Michigan St · Rochester, NY 14606

$164,900

4 bd · 2.0 ba · 2,091 sqft · SingleFamily public records · 14 Days on market

Built 1903 6,534 sqft lot Est $153k · 8% over

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Why this score? — see what drove the C 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
• DSCR +8.4/10.0
• 1% rule +5.5/10.0
• Rent growth +4.1/5.0
• ARV discount +3.9/15.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

OPEN HOUSE on Saturday, April 18th 11:00am - 1:00pm! Welcome to this beautiful fully renovated 4 bedroom, 2 full bathroom home located on 152 Michigan Street! As you step inside, you’re greeted by a spacious foyer that creates a warm and inviting first impression with plenty of room to welcome guests. This move in ready property features brand new flooring throughout, a modern kitchen equipped with brand new stainless steel appliances, and stylish soft close cabinetry that adds both elegance and functionality. The home offers a spacious layout with generously sized bedrooms and the added bonus of a finished attic perfect for a home office, playroom, or additional living space. Every d

Key facts

• Fully renovated
• Finished attic
• Brand new flooring

Tags

• FULLY RENOVATED
• MODERN KITCHEN
• BRAND NEW FLOORING
• FINISHED ATTIC

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $385 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).

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 (+6.3%/yr); 124 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• This rent runs 37% 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.
• At projected returns (-3.0% appreciation + 6.3% rent growth), your $46k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,900

Questions for the listing agent

1. Built in 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.05% ✓
• Cap rate: 9.09%
• Cash-on-cash: 9.99%
• DSCR: 1.44
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $152,643
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
332 Glenwood Ave	0.42mi	4/2.0	2,057 (-2%)	12mo	$140,000	$68	68
320 Ravine Ave	0.36mi	4/2.0	1,923 (-8%)	6mo	$140,000	$73	64
249 Burrows St	0.32mi	5/2.0 (+1)	2,229 (+7%)	6mo	$170,000	$76	64
23 Otis St	0.34mi	5/2.5 (+1)	2,144 (+2%)	11mo	$105,000	$49	63
431 Lexington Ave	0.48mi	4/1.0	2,047 (-2%)	12mo	$160,000	$78	60
170 Otis St	0.23mi	5/3.0 (+1)	1,830 (-12%)	1mo	$190,000	$104	59
371 Glenwood Ave	0.36mi	4/2.0	1,830 (-12%)	5mo	$168,000	$92	59
138 Cameron St	0.41mi	5/2.0 (+1)	1,898 (-9%)	16mo	$55,000	$29	47
254 Glenwood Ave	0.49mi	4/1.5	1,872 (-10%)	16mo	$90,000	$48	44
30 Finch St	0.37mi	5/2.0 (+1)	1,852 (-11%)	20mo	$75,000	$40	42
179 Parkway	0.62mi	5/2.0 (+1)	1,786 (-15%)	15mo	$99,900	$56	30
356 Lake View Park	0.73mi	3/1.0 (-1)	1,790 (-14%)	16mo	$175,000	$98	19

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: 2.0%
• Equity multiple: 1.08×
• Total profit: $3,596
• Equity at exit: $24,587

10-year hold

• IRR: 14.3%
• Equity multiple: 2.31×
• Total profit: $60,268
• Equity at exit: $14,258

Cash invested: $46,172 (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: 7.9×

Monthly cashflow live

• Estimated rent: $1,730 high
• Mortgage (P&I): −$865
• Tax from tax record: −$49 /mo · $586/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $385

Break-even live

Break-even rent $1,243

Max offer price $164,900

Occupancy floor 73%

Sensitivity live

Price	-10% $478	-5% $431	+0% $385	+5% $338	+10% $291
Rent	-10% $248	-5% $316	+0% $385	+5% $453	+10% $521
Rate	-1.0pp $468	-0.5pp $426	base $385	+0.5pp $342	+1.0pp $298

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
327 Glenwood Ave Rochester, NY	3.0	1.0	2012	$1,690	$0.84	3d	1	0.35mi
98 Pierpont St Rochester, NY	3.0	1.0	1973	$1,295	$0.66	44d	1	0.68mi
28-30 Carthage Dr Unit 28 Rochester, NY	3.0	1.0	1415	$1,600	$1.13	24d	1	0.99mi
649 Jay St Rochester, NY	5.0	2.0	2144	$2,000	$0.93	3d	1	1.00mi
385 Ames St Rochester, NY	3.0	1.5	1738	$1,500	$0.86	22d	1	1.03mi
768 Flower City Park Rochester, NY	3.0	1.0	1995	$1,995	$1.00	11d	1	1.38mi
235 Flower City Park Rochester, NY	3.0	1.0	2000	$1,360	$0.68	44d	1	1.49mi

Listing history 6 events

1. 2026-04-28
   status Pending
2. 2026-04-14
   listed $164,900 Active
3. 2024-03-22
   historical
4. 2023-12-16
   price $69,900
5. 2023-11-27
   price $74,900
6. 2023-10-16
   listed $79,900 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: $586 · $49/mo
• Projected year-2 tax: $1,686 · $141/mo
• Expected delta: +$1,100/yr (+$92/mo · 187.8%)

ⓘ 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 ≥96°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: $20,762
• − Mortgage interest: −$9,237
• − Property taxes: −$586
• − Insurance: −$824
• − Repairs & maintenance: −$1,661
• − Management: −$1,661
• − Depreciation: −$4,797
• Taxable income: $1,995
• Est. tax owed @ 24.0%: −$479
• After-tax cash flow: $4,135/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): 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

+106.4% since first listed

6 events — show timeline

• 2026-04-28 Pending — UNYREIS
• 2026-04-14 Listed $164,900 UNYREIS
• 2024-03-22 Listing Removed — UNYREIS
• 2023-12-16 Price Changed $69,900 UNYREIS
• 2023-11-27 Price Changed $74,900 UNYREIS
• 2023-10-16 Listed $79,900 UNYREIS

Property tax history

-3.7%/yr

Latest (2025): $586 · +0.0% YoY. Source: county tax records.