514 Parsells Ave · Rochester, NY 14609

$150,000

4 bd · 2.0 ba · 1,979 sqft · MultiFamily public records · 46 Days on market

Built 1925 6,320 sqft lot $76/sqft · 42% below area Est $258k · 42% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Another Rockin' Rochester Investment Property! The lower tenant has been in place over 20 years and keeps a beautiful apartment. Natural trim, hardwood floors, just delightful. The upper tenant has been in place four years. Vinyl siding, thermopane windows, nice rear yard, separate electric. Seller's average utility bill is about $100/month. Payment history attached. Gross Annual Income of $14,580. Just steps away from the popular N Winton Village area!

Key facts

• Spacious kitchen
• New cabinets
• Updated kitchen

Tags

• HARDWOOD FLOORS
• SPACIOUS KITCHEN
• OVERSIZED BATHROOM
• UPDATED KITCHEN
• NEW CABINETS
• NEW COUNTERTOPS

Property features AI

Finance

• Other: Two total units in the building; Separate electric meters for each unit (2); one shared gas meter
• Financial info: Owner pays heat, trash collection, and water; Rent includes heat, trash collection, and water; Operating expenses include fuel, trash, and water/sewer

Exterior

• Parking: No driveway
• Utilities: Public water connected; Sewer connected
• Home design: Two-story multi-family building; Resale property
• Construction: Block foundation; Construction details: see remarks; Existing structure
• Exterior features: Rectangular lot with 40 x 158 dimensions; Located on a main thoroughfare

Interior

• Kitchen: Eat-in kitchens in units
• Bedrooms: Two-bedroom unit (one unit); One-bedroom unit (one unit)
• Flooring: Hardwood; Laminate; Varies by unit
• Bathrooms: Each unit has one full bathroom (2 full bathrooms total)
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood and laminate flooring; varies by unit; Full basement
• Laundry & utility: Gas water heater

🏷️ Possibly a rental listed for sale. The $150,000 price doesn't fit this home's estimated sale value (~$258,470) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.6% 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; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $2,793/mo this rent would consume 52% 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 $1k 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 $42k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 $120k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.86% ✓
• Cap rate: 16.55%
• Cash-on-cash: 36.64%
• DSCR: 2.63
• GRM: 4.5

CMA / ARV

• ARV (median comp): $258,470
• List price: $150,000
• Delta: -41.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
349 Hazelwood	0.12mi	4/2.0	1,800 (-9%)	6mo	$166,000	$92	74
296 Parsells Ave	0.32mi	5/2.0 (+1)	1,904 (-4%)	4mo	$133,000	$70	70
409 Melville St	0.09mi	4/2.5	1,755 (-11%)	7mo	$129,000	$74	70
28 Sodus St	0.38mi	4/2.0	1,980 (+0%)	15mo	$301,000	$152	69
992 Bay St	0.39mi	4/2.0	1,920 (-3%)	16mo	$152,000	$79	63
—	0.64mi	5/3.0 (+1)	1,962 (-1%)	6mo	$81,000	$41	55
986 Bay St	0.40mi	4/2.0	1,785 (-10%)	16mo	$156,000	$87	52
142-144 Bowman St	0.66mi	4/2.0	1,796 (-9%)	8mo	$115,000	$64	47
47 Bowman St	0.54mi	4/2.0	1,758 (-11%)	11mo	$225,000	$128	47
567 Hayward Ave	0.60mi	4/2.0	1,694 (-14%)	6mo	$230,000	$136	42
188 Cummings St	0.74mi	4/2.0	1,738 (-12%)	10mo	$146,500	$84	37
1286 E Main St	0.73mi	5/2.0 (+1)	2,212 (+12%)	8mo	$130,000	$59	35

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: 37.7%
• Equity multiple: 2.71×
• Total profit: $71,774
• Equity at exit: $22,365

10-year hold

• IRR: 46.5%
• Equity multiple: 6.55×
• Total profit: $233,055
• Equity at exit: $12,969

Cash invested: $42,000 (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: 9.0×

Monthly cashflow live

• Estimated rent: $2,793 high
• Mortgage (P&I): −$787
• Tax from tax record: −$75 /mo · $897/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$587
• Net cashflow: $1,283

Break-even live

Break-even rent $1,169

Max offer price $150,000

Occupancy floor 49%

Sensitivity live

Price	-10% $1,367	-5% $1,325	+0% $1,283	+5% $1,240	+10% $1,198
Rent	-10% $1,062	-5% $1,172	+0% $1,283	+5% $1,393	+10% $1,503
Rate	-1.0pp $1,358	-0.5pp $1,321	base $1,283	+0.5pp $1,244	+1.0pp $1,204

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,794
Total (2 units)			$2,793

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1159 Culver Rd Unit A2 UP Rochester, NY	3.0	1.0	1313	$1,500	$1.14	44d	1	0.11mi
420 Rosewood Ter Rochester, NY	3.0	1.0	1246	$1,300	$1.04	4d	1	0.19mi
1079 Garson Ave Rochester, NY	3.0	1.5	1273	$2,100	$1.65	11d	1	0.43mi
195 Parsells Ave Rochester, NY	4.0	1.0	1413	$1,265	$0.90	4d	1	0.44mi
126 Parsells Ave Rochester, NY	3.0	1.0	1574	$1,800	$1.14	44d	1	0.54mi
126 Parsells Ave Rochester, NY	3.0	1.0	1574	$1,800	$1.14	22d	1	0.54mi
1786 Clifford Ave Rochester, NY	3.0	1.0	2404	$1,850	$0.77	4d	1	0.82mi
1788 Clifford Ave Rochester, NY	3.0	1.0	2404	$1,850	$0.77	4d	1	0.82mi
52 Frances St Rochester, NY	4.0	1.0	1256	$1,595	$1.27	44d	1	0.86mi
176 Merwin Ave Rochester, NY	4.0	1.5	1750	$2,200	$1.26	44d	1	0.91mi
147 5th St Rochester, NY	4.0	1.0	1289	$1,950	$1.51	22d	1	0.98mi
47 Priscilla St Rochester, NY	4.0	1.5	1250	$1,900	$1.52	22d	1	1.03mi
733 University Ave #3 Rochester, NY	3.0	1.5	1400	$1,850	$1.32	44d	1	1.19mi
1600 East Ave Rochester, NY	3.0	1.0–2.0	944	$2,875	$3.04	3d	1	1.27mi
1 Champeney Ter Rochester, NY	3.0	1.0	1936	$1,650	$0.85	15d	1	1.37mi
207 Lux St Rochester, NY	4.0	1.5	1728	$2,150	$1.24	11d	1	1.46mi
36 Morningside Park Rochester, NY	4.0	1.0	1446	$2,400	$1.66	4d	1	1.47mi
214 Culver Rd Apt 2 Rochester, NY	3.0	1.0	1700	$2,400	$1.41	15d	1	1.47mi
57 Calumet St Rochester, NY	3.0	3.0	2500	$2,250	$0.90	15d	1	1.49mi

Listing history 26 events

1. 2026-06-21
   days on market $150,000 Active 46 DOM
2. 2026-06-18
   days on market $150,000 Active 43 DOM
3. 2026-06-17
   days on market $150,000 Active 42 DOM
4. 2026-06-16
   days on market $150,000 Active 41 DOM
5. 2026-06-15
   days on market $150,000 Active 40 DOM
6. 2026-06-13
   days on market $150,000 Active 38 DOM
7. 2026-06-13
   days on market $150,000 Active 37 DOM
8. 2026-06-10
   days on market $150,000 Active 35 DOM
9. 2026-06-09
   days on market $150,000 Active 34 DOM
10. 2026-06-09
    days on market $150,000 Active 33 DOM
11. 2026-06-07
    days on market $150,000 Active 32 DOM
12. 2026-06-05
    days on market $150,000 Active 29 DOM
13. 2026-06-03
    days on market $150,000 Active 28 DOM
14. 2026-06-03
    days on market $150,000 Active 27 DOM
15. 2026-06-01
    days on market $150,000 Active 26 DOM
16. 2026-05-31
    days on market $150,000 Active 25 DOM
17. 2026-05-06
    listed $150,000 Active 586-char remark
18. 2025-05-14
    soldstatus $120,000
19. 2021-09-29
    soldstatus $61,000 Closed Sale or Rented 457-char remark

    Show marketing remark (457 chars)

    Another Rockin' Rochester Investment Property! The lower tenant has been in place over 20 years and keeps a beautiful apartment. Natural trim, hardwood floors, just delightful. The upper tenant has been in place four years. Vinyl siding, thermopane windows, nice rear yard, separate electric. Seller's average utility bill is about $100/month. Payment history attached. Gross Annual Income of $14,580. Just steps away from the popular N Winton Village area!

20. 2021-09-29
    soldstatus $61,000

    Show marketing remark (457 chars)

    Another Rockin' Rochester Investment Property! The lower tenant has been in place over 20 years and keeps a beautiful apartment. Natural trim, hardwood floors, just delightful. The upper tenant has been in place four years. Vinyl siding, thermopane windows, nice rear yard, separate electric. Seller's average utility bill is about $100/month. Payment history attached. Gross Annual Income of $14,580. Just steps away from the popular N Winton Village area!

21. 2021-08-16
    status Pending Sale 457-char remark

    Show marketing remark (457 chars)

    Another Rockin' Rochester Investment Property! The lower tenant has been in place over 20 years and keeps a beautiful apartment. Natural trim, hardwood floors, just delightful. The upper tenant has been in place four years. Vinyl siding, thermopane windows, nice rear yard, separate electric. Seller's average utility bill is about $100/month. Payment history attached. Gross Annual Income of $14,580. Just steps away from the popular N Winton Village area!

22. 2021-08-08
    listed $69,900 Active 457-char remark

    Show marketing remark (457 chars)

    Another Rockin' Rochester Investment Property! The lower tenant has been in place over 20 years and keeps a beautiful apartment. Natural trim, hardwood floors, just delightful. The upper tenant has been in place four years. Vinyl siding, thermopane windows, nice rear yard, separate electric. Seller's average utility bill is about $100/month. Payment history attached. Gross Annual Income of $14,580. Just steps away from the popular N Winton Village area!

23. 2015-11-09
    historical
24. 2015-08-21
    status Pending Sale
25. 2015-05-13
    listed $50,000 Active
26. 2007-10-29
    soldstatus $41,900

ⓘ 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: $897 · $75/mo
• Projected year-2 tax: $1,716 · $143/mo
• Expected delta: +$819/yr (+$68/mo · 91.2%)

ⓘ 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 2/10 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: $33,516
• − Mortgage interest: −$8,402
• − Property taxes: −$897
• − Insurance: −$750
• − Repairs & maintenance: −$2,681
• − Management: −$2,681
• − Depreciation: −$4,364
• Taxable income: $13,740
• Est. tax owed @ 24.0%: −$3,298
• After-tax cash flow: $12,093/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

+258.0% since first listed

10 events — show timeline

• 2026-05-06 Listed $150,000 UNYREIS
• 2025-05-14 Sold (Public Records) $120,000 Public Records
• 2021-09-29 Sold (Public Records) $61,000 Public Records
• 2021-09-29 Sold (MLS) $61,000 UNYREIS
• 2021-08-16 Pending — UNYREIS
• 2021-08-08 Listed $69,900 UNYREIS
• 2015-11-09 Listing Removed — UNYREIS
• 2015-08-21 Pending — UNYREIS
• 2015-05-13 Listed $50,000 UNYREIS
• 2007-10-29 Sold (Public Records) $41,900 Public Records

Property tax history

-2.8%/yr

Latest (2025): $897 · -6.9% YoY. Source: county tax records.