18 Chester Ave · Rochester Institute of Technology, NY 14623

$199,900

3 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 8 Days on market

Built 1962 0.28 ac lot Est $262k · 24% under

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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 +21.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +6.1/10.0
• Schools +4.5/10.0
• Rent growth +4.0/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss out on this one! Close to RIT, U of R and the river; 3.5 car heated and insulated GARAGE with installed air-tubing for compressed air tools; hardwoods throughout the house; main roof 2005 and 2007 for garage; private backyard with stone patio and fireplace perfect for relaxing; glass block windows and much more. A must see!

Key facts

• Vinyl siding
• New roof
• Hardwood floors

Tags

• NEW ROOF
• VINYL SIDING
• REPLACEMENT WINDOWS
• HIGH-EFFICIENCY FURNACE
• CENTRAL AIR CONDITIONING
• HARDWOOD FLOORS

Property features AI

Exterior

• Parking: Detached heated garage with workshop and storage; Garage door opener; Three garage spaces; Garage has electricity
• Utilities: High-speed internet available; Public water connected; Sewer connected; Circuit breaker electric
• Home design: Single-story home; Resale property; Block foundation
• Construction: Aluminum and vinyl siding; Architectural shingle roof; Copper and PEX plumbing; Built as existing structure
• Exterior features: Blacktop and gravel driveways; Patio; Shed(s) and outdoor storage

Interior

• Kitchen: Gas oven and gas range; Dishwasher; Microwave; Garbage disposal; Refrigerator
• Bedrooms: Three main-level bedrooms
• Flooring: Hardwood; Laminate; Varies
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Separate/formal living room; Country kitchen; Combined living/dining area; Storage space; Workshop; Full basement
• Laundry & utility: Washer and dryer in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $231 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Cap rate 8.0% vs local median 3.8% in Rochester Institute of Technology — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Wheatland-Chili Central School District (suburban): math 46% / reading 57% proficiency, ranked #341 of 590 in NY (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+6.1%/yr); 48 active listings in the ZIP; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• This rent runs 41% of the median local income ($65k/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 $6k 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 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 12y 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 $95k; list at $200k implies a 111% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,900

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.11% ✓
• Cap rate: 8.01%
• Cash-on-cash: 6.14%
• DSCR: 1.27
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $262,080
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 Names Rd	0.35mi	3/2.0	952 (-8%)	1mo	$240,000	$252	65
6 Celia Dr	0.50mi	2/1.0 (-1)	1,064 (+2%)	22mo	$210,000	$197	50

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 · 6.06% rent growth · sell at horizon

5-year hold

• IRR: -4.9%
• Equity multiple: 0.81×
• Total profit: $-10,557
• Equity at exit: $29,806

10-year hold

• IRR: 8.3%
• Equity multiple: 1.73×
• Total profit: $40,898
• Equity at exit: $17,284

Cash invested: $55,972 (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 14623

• Rents YoY: 6.1%
• Active inventory: 48
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,214 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$331 /mo · $3,970/yr
• Insurance: −$83
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $231

Break-even live

Break-even rent $1,921

Max offer price $199,900

Occupancy floor 85%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $199,900 Active 8 DOM
2. 2026-06-17
   days on market $199,900 Active 7 DOM
3. 2026-06-16
   days on market $199,900 Active 6 DOM
4. 2026-06-15
   days on market $199,900 Active 5 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $199,900 Active 3 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: $3,970 · $331/mo
• Projected year-2 tax: $3,970 · $331/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 7/10 Severe FEMA zone X (shaded) · 90% 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: $26,562
• − Mortgage interest: −$11,198
• − Property taxes: −$3,970
• − Insurance: −$1,666
• − Repairs & maintenance: −$2,125
• − Management: −$2,125
• − Depreciation: −$5,815
• Taxable loss: −$337
• Est. tax savings @ 24.0%: +$81
• After-tax cash flow: $2,849/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: Wheatland-Chili Central School District
• NCES district ID: 3631170
• Math proficiency: 46% ▲ 8.00%
• Reading proficiency: 57% ▲ 15.00%
• Median HH income: $57,303
• Composite: 44.69/100
• National rank: #2758
• State rank: #341 of 590 in NY

Livability — Rochester Institute of Technology

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Monroe County · 674,131 people
• Metro: Rochester, NY
• Population (ZIP): 26,032
• Household income: $65,342
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 1161.0

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 (67%)
• Race & ethnicity: White 67% Asian 15% Black 8% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 4% Iranian 2% Lithuanian 2%
• Foreign-born: 14% · China, Canada, Vietnam
• Languages at home: 84% English-only · Chinese 4% Other Indo-European 3% Spanish 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: ▼ -180.68%
• Current HPI: 262.8187
• Rent YoY: ▲ 6.06%
• 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

+189.7% since first listed

6 events — show timeline

• 2026-06-10 Listed $199,900 UNYREIS
• 2014-08-18 Sold (Public Records) $94,900 Public Records
• 2014-08-15 Sold (MLS) $94,900 UNYREIS
• 2014-06-14 Listed $94,900 UNYREIS
• 2002-12-24 Sold (Public Records) $89,900 Public Records
• 1994-03-28 Sold (Public Records) $69,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $3,970 · +17.3% YoY. Source: county tax records.