29 Marlands Rd · Gates, NY 14624

$219,900

3 bd · 1.5 ba · 1,772 sqft · SingleFamily public records · 7 Days on market

Built 1972 0.30 ac lot Est $303k · 27% 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 +5.8/10.0
• DSCR +3.6/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Well maintained split-level home in Gates offers a comfortable and functional living environment. This home features three bedrooms, providing ample space. The first-floor office space can also serve as a bedroom, offering versatility to accommodate various needs. The beautiful living room is enhanced by a fireplace and a door that leads out to a deck that overlooks the large and private backyard. Upstairs bathroom has heated floors. The large basement adds valuable storage space and can be adapted for various purposes. The two-car garage provides convenient parking and storage options. Make your appointment today! Delayed Showings until 9/8. Delayed negotiations until 9/12 noon.

Key facts

• 0.3 acre lot
• 2 garage spots
• Built 1972

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-43 ($-517/yr) — negative.
• To cash-flow at today's rent, offer at most $212k (3.5% below list).
• Meets the 1% rule at list price ($2k rent vs $220k).
• Recommended offer: $212k (3.5% 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: 127 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• This rent runs 32% of the median local income ($88k/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 $2k of loan paydown is wiped out by about $7k 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 3.6% of price.

Recommended offer $212,294 (3.5% 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 1972 — 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: 1.08% ✓
• Cap rate: 6.06%
• Cash-on-cash: -0.84%
• DSCR: 0.96
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $303,012
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2 Sands Rd	0.19mi	3/2.0	1,730 (-2%)	13mo	$310,000	$179	75
4 Sands Rd	0.20mi	4/2.0 (+1)	1,730 (-2%)	12mo	$345,000	$199	70
18 Capri Dr	0.57mi	3/2.0	1,774 (+0%)	2mo	$303,000	$171	69
19 Del Verde Rd	0.21mi	3/1.5	1,546 (-13%)	5mo	$230,000	$149	64
12 Flamingo Dr	0.26mi	4/2.5 (+1)	1,800 (+2%)	15mo	$313,000	$174	64
17 Courtright Ln	0.38mi	3/2.0	1,864 (+5%)	11mo	$259,300	$139	62
15 Currier Ln	0.38mi	3/1.5	1,625 (-8%)	8mo	$303,000	$186	62
21 Bambi Ln	0.52mi	3/1.5	1,805 (+2%)	16mo	$175,000	$97	59
34 Capri Dr	0.67mi	3/1.5	1,774 (+0%)	15mo	$285,000	$161	56
67 Riviera Dr	0.60mi	4/2.0 (+1)	1,739 (-2%)	11mo	$260,000	$150	52
29 Davy Dr	0.70mi	4/2.0 (+1)	1,754 (-1%)	10mo	$275,000	$157	50
25 Bambi Ln	0.55mi	3/1.5	1,512 (-15%)	9mo	$265,000	$175	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.5%
• Equity multiple: 0.38×
• Total profit: $-38,099
• Equity at exit: $32,788

10-year hold

• IRR: -9.3%
• Equity multiple: 0.42×
• Total profit: $-35,584
• Equity at exit: $19,013

Cash invested: $61,572 (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 14624

• Active inventory: 127
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,365 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$667 /mo · $7,999/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $-43

Break-even live

Break-even rent $2,419

Max offer price $212,294

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25 Silverlight Way Unit 50 Rochester, NY	3.0	2.5	1526	$2,550	$1.67	44d	1	0.67mi
50 Ivy Bridge Way Rochester, NY	3.0	2.5	1526	$2,550	$1.67	44d	1	0.70mi
29 Ivy Bridge Way Westgate, NY	3.0	2.5	1526	$2,500	$1.64	10d	1	0.77mi
37 Red Plank Way Rochester, NY	3.0	2.5	1526	$2,500	$1.64	14d	1	0.79mi
350 Westview Commons Blvd Rochester, NY	1.0–2.0	1.0–2.0	1087	$1,860	$1.71	3d	13	0.97mi
2859 Manitou Rd Rochester, NY	1.0–3.0	1.0–1.5	937	$1,915	$2.04	3d	12	1.46mi

Listing history 4 events

1. 2023-12-27
   status Pending
2. 2023-10-30
   soldstatus $287,777
3. 2023-09-14
   status Under Contract- Do Not Show
4. 2023-09-07
   listed $219,900 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: $7,999 · $667/mo
• Projected year-2 tax: $7,999 · $667/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 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,380
• − Mortgage interest: −$12,318
• − Property taxes: −$7,999
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,270
• − Management: −$2,270
• − Depreciation: −$6,397
• Taxable loss: −$3,974
• Est. tax savings @ 24.0%: +$954
• After-tax cash flow: $437/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

• County: Monroe County · 674,131 people
• Metro: Rochester, NY
• Population (ZIP): 38,626
• Household income: $87,989
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 584.0

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: Predominantly White (78%)
• Race & ethnicity: White 78% Black 9% Hispanic / Latino 6% Two or more races 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 6% Iranian 2% Lithuanian 2%
• Foreign-born: 7% · Canada, China, India
• Languages at home: 90% English-only · Spanish 3% Other Indo-European 3% Russian/Polish/Slavic 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: ▼ -151.26%
• Current HPI: 267.356
• Rent YoY: —
• 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

+30.9% since first listed

4 events — show timeline

• 2023-12-27 Pending — UNYREIS
• 2023-10-30 Sold (Public Records) $287,777 Public Records
• 2023-09-14 Pending — UNYREIS
• 2023-09-07 Listed $219,900 UNYREIS

Property tax history

+4.7%/yr

Latest (2025): $7,999 · +21.3% YoY. Source: county tax records.