4227 State Route 5 And 20 · Canandaigua, NY 14424

$199,900

5 bd · 2.0 ba · 2,353 sqft · MultiFamily public records · 8 Days on market

Built 1890 1.21 ac lot

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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 +21.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +6.6/10.0
• Schools +4.7/10.0
• Rent growth +4.6/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 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

Opportunity awaits with this handyman special just outside the City of Canandaigua! Ideally located within just a few miles to CMAC, Lowe’s, Walmart, and other everyday conveniences. Situated on just over an acre, this property is currently configured as a duplex, with each unit offering two bedrooms (either apartment could be a three bedroom depending on how it's divided up), a full bath, living room, and kitchen. The layout also provides flexibility to be converted back to a single-family home if desired. While it requires significant TLC, the solid bones and expansive lot present excellent potential for investors or owner-occupants looking to build equity. Don’t miss the chance to bring your vision to life in a prime location! Delayed Negotiations Until 4/21 at 12 PM.

Key facts

• Expansive lot
• Prime location
• 1.21 acre lot

Tags

• EXPANSIVE LOT
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $311 ($4k/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 8.2% vs local median 3.4% in Canandaigua — 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 75/100 on livability (#243 in NY, #3,822 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, schools B+; Watch: employment C-, amenities F, health & safety D-.
• Canandaigua City School District (suburban): math 50% / reading 59% proficiency, ranked #305 of 590 in NY (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+8.5%/yr); 223 active listings in the ZIP; solid renter incomes; 284 units permitted in Ontario County in 2024 (69 in 5+ unit buildings).
• This rent runs 35% of the median local income ($80k/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.
• Ontario 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 + 8.0% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $199,900

Questions for the listing agent

1. Built in 1890 — 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 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?
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 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: 1.16% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.66%
• DSCR: 1.30
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -0.1%
• Equity multiple: 1.00×
• Total profit: $-198
• Equity at exit: $29,806

10-year hold

• IRR: 14.5%
• Equity multiple: 2.46×
• Total profit: $81,694
• 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 14424

• Home prices YoY: -21.2%
• Rents YoY: 8.5%
• Active inventory: 223
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,323 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$393 /mo · $4,714/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$488
• Net cashflow: $311

Break-even live

Break-even rent $1,930

Max offer price $199,900

Occupancy floor 82%

Sensitivity live

Price	-10% $424	-5% $367	+0% $311	+5% $254	+10% $198
Rent	-10% $127	-5% $219	+0% $311	+5% $403	+10% $494
Rate	-1.0pp $411	-0.5pp $362	base $311	+0.5pp $259	+1.0pp $206

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 4 events

1. 2026-04-24
   status Pending

   Show marketing remark (793 chars)

   Opportunity awaits with this handyman special just outside the City of Canandaigua! Ideally located within just a few miles to CMAC, Lowe’s, Walmart, and other everyday conveniences. Situated on just over an acre, this property is currently configured as a duplex, with each unit offering two bedrooms (either apartment could be a three bedroom depending on how it's divided up), a full bath, living room, and kitchen. The layout also provides flexibility to be converted back to a single-family home if desired. While it requires significant TLC, the solid bones and expansive lot present excellent potential for investors or owner-occupants looking to build equity. Don’t miss the chance to bring your vision to life in a prime location! Delayed Negotiations Until 4/21 at 12 PM.

2. 2026-04-24
   status Pending 793-char remark

   Show marketing remark (793 chars)

   Opportunity awaits with this handyman special just outside the City of Canandaigua! Ideally located within just a few miles to CMAC, Lowe’s, Walmart, and other everyday conveniences. Situated on just over an acre, this property is currently configured as a duplex, with each unit offering two bedrooms (either apartment could be a three bedroom depending on how it's divided up), a full bath, living room, and kitchen. The layout also provides flexibility to be converted back to a single-family home if desired. While it requires significant TLC, the solid bones and expansive lot present excellent potential for investors or owner-occupants looking to build equity. Don’t miss the chance to bring your vision to life in a prime location! Delayed Negotiations Until 4/21 at 12 PM.

3. 2026-04-16
   listed $199,900 Active

   Show marketing remark (793 chars)

   Opportunity awaits with this handyman special just outside the City of Canandaigua! Ideally located within just a few miles to CMAC, Lowe’s, Walmart, and other everyday conveniences. Situated on just over an acre, this property is currently configured as a duplex, with each unit offering two bedrooms (either apartment could be a three bedroom depending on how it's divided up), a full bath, living room, and kitchen. The layout also provides flexibility to be converted back to a single-family home if desired. While it requires significant TLC, the solid bones and expansive lot present excellent potential for investors or owner-occupants looking to build equity. Don’t miss the chance to bring your vision to life in a prime location! Delayed Negotiations Until 4/21 at 12 PM.

4. 2026-04-16
   listed $199,900 Active 793-char remark

   Show marketing remark (793 chars)

   Opportunity awaits with this handyman special just outside the City of Canandaigua! Ideally located within just a few miles to CMAC, Lowe’s, Walmart, and other everyday conveniences. Situated on just over an acre, this property is currently configured as a duplex, with each unit offering two bedrooms (either apartment could be a three bedroom depending on how it's divided up), a full bath, living room, and kitchen. The layout also provides flexibility to be converted back to a single-family home if desired. While it requires significant TLC, the solid bones and expansive lot present excellent potential for investors or owner-occupants looking to build equity. Don’t miss the chance to bring your vision to life in a prime location! Delayed Negotiations Until 4/21 at 12 PM.

ⓘ 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: $4,714 · $393/mo
• Projected year-2 tax: $4,714 · $393/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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,877
• − Mortgage interest: −$11,198
• − Property taxes: −$4,714
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,230
• − Management: −$2,230
• − Depreciation: −$5,815
• Taxable income: $690
• Est. tax owed @ 24.0%: −$166
• After-tax cash flow: $3,564/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: Canandaigua City School District
• NCES district ID: 3606330
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 59% ▲ 4.00%
• Median HH income: $56,375
• Composite: 47.09/100
• National rank: #2335
• State rank: #305 of 590 in NY

Livability — Canandaigua

• Score: 75/100
• State rank: #243
• US rank: #3822

Category grades

Amenities F Commute A+ Cost of living B Crime B- Employment C- Housing A+ Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Ontario County · 58,989 people
• City population: 28,786
• Metro: Rochester, NY
• Population (ZIP): 28,786
• Household income: $79,778
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 737.0

Population outlook (Ontario County) Hauer SSP2

• Today (2025): 111,230 people
• By 2030: 111,401 · +0.2%
• By 2040: 109,535 · -1.5%
• By 2050: 104,895 · -5.7%
• By 2075: 92,999 · -16.4%
• By 2100: 73,723 · -33.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 5% Black 1%
• Common ancestry: Romanian 4% Iranian 4% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% German/W. Germanic 1% Arabic 1%

Political lean MEDSL · Ontario

• 2024 margin: Toss-up / Even · D 49.4% · R 50.6%
• 2008→2024 swing: -1.0pp toward R · 2008: -0.1pp · 2024: -1.2pp
• All cycles: 2024: R+1.2 2020: R+0.0 2016: R+8.6 2012: R+1.6 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.94%
• Current HPI: 263.755
• Rent YoY: ▲ 8.46%
• 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

+0.0% since first listed

4 events — show timeline

• 2026-04-24 Pending — UNYREIS
• 2026-04-24 Pending — UNYREIS
• 2026-04-16 Listed $199,900 UNYREIS
• 2026-04-16 Listed $199,900 UNYREIS

Property tax history

+2.4%/yr

Latest (2025): $4,714 · -0.4% YoY. Source: county tax records.