477 Parsells Ave · Rochester, NY 14609

$100,000

4 bd · 2.0 ba · 2,071 sqft · MultiFamily public records · 11 Days on market

Built 1920 6,098 sqft lot Est $184k · 46% 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 Bracci Investment Team Offering! This one is a beauty! New tear off roof done '09, 2 new furnaces in '12, one new hot water tank in '12, new exterior doors, new gutters, new thermopane windows, new sidewalks. .. new C of O at closing! Great tenants. Large kitchens. Upper unit has LEGAL loft bedroom and one bedroom on second floor; sliding doors to enclosed porch off the kitchen. $12,900 gross annual income! Maintenance free vinyl siding, partially fenced deep yard (158' deep). Located in a popular rental area.

Key facts

• Solid bones
• Sun porch
• Loft bedroom area

Tags

• MAINTENANCE FREE EXTERIOR
• TWO 2 BDRM APARTMENTS
• LOFT BEDROOM AREA
• SUN PORCH
• SOLID BONES

Property features AI

Finance

• Financial info: Two-unit multi-family property with separate gas and electric meters for each unit; One unit currently rented for $950 on a month-to-month basis; Owner pays trash collection and water; tenants pay all other utilities; Operating expenses noted as 'See Remarks'

Exterior

• Parking: Paved parking with two or more spaces
• Utilities: Sewer connected; Public water connected; Cable available; High-speed internet available; Electric service with circuit breakers and fuses
• Home design: Two-story building; Existing (pre-owned) condition
• Construction: Vinyl siding; Copper and PEX plumbing; Asphalt roof; Block foundation; Built prior to current listing (existing structure)
• Exterior features: Partial fencing; Fence; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Eat-in kitchen in each unit
• Bedrooms: Two 2-bedroom units (each unit has 2 bedrooms)
• Flooring: Hardwood; Laminate; Linoleum; Vinyl; Varied flooring types throughout
• Bathrooms: Two full bathrooms in the building (each unit has 1 full bathroom)
• Heating & cooling: Gas forced-air heating
• Interior features: Thermal windows; Attic; Natural woodwork
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $100k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $100k).
• Cap rate 25.9% 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; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $2,892/mo this rent would consume 54% 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 $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 13y 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 $42k; list at $100k implies a 141% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1920 — 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 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: 2.89% ✓
• Cap rate: 25.93%
• Cash-on-cash: 70.15%
• DSCR: 4.12
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $184,319
• Comps found: 12

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 (-13%)	6mo	$166,000	$92	68
296 Parsells Ave	0.26mi	5/2.0 (+1)	1,904 (-8%)	4mo	$133,000	$70	66
28 Sodus St	0.41mi	4/2.0	1,980 (-4%)	15mo	$301,000	$152	61
30-32 Salisbury St	0.45mi	4/2.0	1,968 (-5%)	18mo	$180,000	$91	56
992 Bay St	0.41mi	4/2.0	1,920 (-7%)	16mo	$152,000	$79	55
—	0.58mi	5/3.0 (+1)	1,962 (-5%)	6mo	$81,000	$41	50
154 Breck St	0.58mi	4/3.0	1,974 (-5%)	16mo	$210,000	$106	47
1286 E Main St	0.67mi	5/2.0 (+1)	2,212 (+7%)	8mo	$130,000	$59	46
986 Bay St	0.41mi	4/2.0	1,785 (-14%)	16mo	$156,000	$87	44
33-35 Coventry Ave	0.75mi	5/2.0 (+1)	2,112 (+2%)	16mo	$357,000	$169	43
142-144 Bowman St	0.62mi	4/2.0	1,796 (-13%)	8mo	$115,000	$64	43
1526 E Main St	0.44mi	4/2.0	1,792 (-14%)	18mo	$160,000	$89	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 · 7.89% rent growth · sell at horizon

5-year hold

• IRR: 75.1%
• Equity multiple: 4.68×
• Total profit: $102,990
• Equity at exit: $14,910

10-year hold

• IRR: 80.1%
• Equity multiple: 11.42×
• Total profit: $291,784
• Equity at exit: $8,646

Cash invested: $28,000 (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: 5.8×

Monthly cashflow live

• Estimated rent: $2,892 high
• Mortgage (P&I): −$524
• Tax from tax record: −$82 /mo · $982/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$607
• Net cashflow: $1,637

Break-even live

Break-even rent $820

Max offer price $100,000

Occupancy floor 38%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,892
Total (2 units)			$2,892

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
195 Parsells Ave Rochester, NY	4.0	1.0	1413	$1,265	$0.90	3d	1	0.39mi
126 Parsells Ave Rochester, NY	3.0	1.0	1574	$1,800	$1.14	43d	1	0.49mi
126 Parsells Ave Rochester, NY	3.0	1.0	1574	$1,800	$1.14	21d	1	0.49mi
1786 Clifford Ave Rochester, NY	3.0	1.0	2404	$1,850	$0.77	3d	1	0.79mi
1788 Clifford Ave Rochester, NY	3.0	1.0	2404	$1,850	$0.77	2d	1	0.79mi
176 Merwin Ave Rochester, NY	4.0	1.5	1750	$2,200	$1.26	43d	1	0.96mi
733 University Ave #3 Rochester, NY	3.0	1.5	1400	$1,850	$1.32	43d	1	1.15mi
1600 East Ave Rochester, NY	3.0	1.0–2.0	944	$2,875	$3.04	2d	1	1.28mi
1 Champeney Ter Rochester, NY	3.0	1.0	1936	$1,650	$0.85	14d	1	1.32mi
207 Lux St Rochester, NY	4.0	1.5	1728	$2,150	$1.24	10d	1	1.42mi
36 Morningside Park Rochester, NY	4.0	1.0	1446	$2,400	$1.66	3d	1	1.45mi
214 Culver Rd Apt 2 Rochester, NY	3.0	1.0	1700	$2,400	$1.41	14d	1	1.46mi
256 Oxford St Unit 1 Rochester, NY	3.0	1.0	2050	$3,000	$1.46	14d	1	1.48mi
57 Calumet St Rochester, NY	3.0	3.0	2500	$2,250	$0.90	14d	1	1.48mi

Listing history 5 events

1. 2026-04-16
   status Pending
2. 2026-04-05
   listed $100,000 Active
3. 2014-01-30
   soldstatus $41,500 523-char remark

   Show marketing remark (523 chars)

   Another Bracci Investment Team Offering! This one is a beauty! New tear off roof done '09, 2 new furnaces in '12, one new hot water tank in '12, new exterior doors, new gutters, new thermopane windows, new sidewalks. .. new C of O at closing! Great tenants. Large kitchens. Upper unit has LEGAL loft bedroom and one bedroom on second floor; sliding doors to enclosed porch off the kitchen. $12,900 gross annual income! Maintenance free vinyl siding, partially fenced deep yard (158' deep). Located in a popular rental area.

4. 2013-09-24
   listed $47,900 523-char remark

   Show marketing remark (523 chars)

   Another Bracci Investment Team Offering! This one is a beauty! New tear off roof done '09, 2 new furnaces in '12, one new hot water tank in '12, new exterior doors, new gutters, new thermopane windows, new sidewalks. .. new C of O at closing! Great tenants. Large kitchens. Upper unit has LEGAL loft bedroom and one bedroom on second floor; sliding doors to enclosed porch off the kitchen. $12,900 gross annual income! Maintenance free vinyl siding, partially fenced deep yard (158' deep). Located in a popular rental area.

5. 2007-08-31
   soldstatus $20,000

ⓘ 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: $982 · $82/mo
• Projected year-2 tax: $1,336 · $111/mo
• Expected delta: +$354/yr (+$29/mo · 36.0%)

ⓘ 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: $34,704
• − Mortgage interest: −$5,602
• − Property taxes: −$982
• − Insurance: −$500
• − Repairs & maintenance: −$2,776
• − Management: −$2,776
• − Depreciation: −$2,909
• Taxable income: $19,159
• Est. tax owed @ 24.0%: −$4,598
• After-tax cash flow: $15,043/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

+400.0% since first listed

5 events — show timeline

• 2026-04-16 Pending — UNYREIS
• 2026-04-05 Listed $100,000 UNYREIS
• 2014-01-30 Sold (MLS) $41,500 UNYREIS
• 2013-09-24 Listed $47,900 UNYREIS
• 2007-08-31 Sold (Public Records) $20,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $982 · +0.0% YoY. Source: county tax records.