34 Glasgow St · Rochester, NY 14608

$347,000

9 bd · 3.9 ba · 3,892 sqft · MultiFamily · 2 Days on market

Built 1900 3,485 sqft lot Est $416k · 17% under

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Why this score? — see what drove the A- 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
• Appreciation +6.8/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

SELLER IS ALLOWING INTERIOR ACCESS !! RARE FIND ! Spacious 2 Family in the heart of Cornhill ! All newer Utilities could easily be split into 2 gas and electric meters ! Each side has 4 Bedrooms and 2 Full Baths ! 2 Huge living rooms, 2 dining areas and 2 Kitchens. 2 sets of staircases on each side ! in addition to a full basement and walkup attic on each side! Newer Roof ! Newer hi e furnace ! Large Front porch ! TOTAL of 8 Bedrooms and 4 Full Baths ! WITH 4 Staircases this could easily be 4 great units !!! Can be purchased with adjoining properties - 440 & 448 Frederick Douglass,

Key facts

• Inviting foyer
• Bright living room
• 3,485 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• MULTI-FAMILY PROPERTY
• CLASSIC ARCHITECTURAL CHARM
• FUNCTIONAL LIVING SPACE
• INVITING FOYER
• BRIGHT LIVING ROOM

Property features AI

Finance

• Financial info: Two-unit property with separate gas meters for each unit and a shared electric meter; Owner pays electricity and water; rent includes electricity and water; Operating expenses include electric and water/sewer; Unit 1 actual rent $1,679 (unit is leased through 02/28/2027); Unit 2 rent not reported

Exterior

• Parking: On-street parking
• Utilities: Public water connected; Sewer connected
• Home design: 2-story multifamily residence; Residential 2-unit zoning; Existing construction
• Construction: Vinyl siding; Asphalt roof; Block foundation; Built (existing structure)
• Exterior features: Rectangular residential lot; City street frontage

Interior

• Kitchen: Dishwasher; Oven / range; Refrigerator; Microwave; Eat-in kitchen (in both units); Dining area with kitchen (in one unit)
• Bedrooms: Two 4-bedroom units (each unit has 4 bedrooms)
• Flooring: Ceramic tile; Hardwood; Laminate; Varies
• Bathrooms: Four full bathrooms total (two full bathrooms per unit)
• Heating & cooling: Gas heating; Forced air; Zoned heating; Central air; Zoned cooling
• Interior features: Full basement; Den / family room; Eat-in kitchen; Living room; Porch
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.3-bath units multifamily listed at $347k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $726/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $347k).
• Cap rate 13.8% 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 (+6.6%/yr); 51 active listings in the ZIP; lower-income renter base — watch delinquency; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $5,792/mo this rent would consume 171% of the median local household income ($41k/yr) (locally 1300% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $15k of equity ($2k loan paydown + $13k appreciation (3.7% local appreciation)).
• Monroe County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.7% appreciation + 6.6% rent growth), your $97k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y 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 $250k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $347,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 1.67% ✓
• Cap rate: 13.82%
• Cash-on-cash: 26.90%
• DSCR: 2.20
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $416,444
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
729 South Ave	0.61mi	8/4.0 (-1)	4,216 (+8%)	20mo	$452,500	$107	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.69% appreciation · 6.61% rent growth · sell at horizon

5-year hold

• IRR: 36.9%
• Equity multiple: 3.22×
• Total profit: $215,239
• Equity at exit: $169,702

10-year hold

• IRR: 38.2%
• Equity multiple: 7.12×
• Total profit: $594,315
• Equity at exit: $272,702

Cash invested: $97,160 (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 14608

• Home prices YoY: 1.3%
• Rents YoY: 6.6%
• Active inventory: 51
• Price-to-rent: 15.0×

Monthly cashflow live

• Estimated rent: $5,792 high
• Mortgage (P&I): −$1,820
• Tax est. 1.5%: −$434 /mo · $5,205/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,216
• Net cashflow: $2,178

Break-even live

Break-even rent $3,035

Max offer price $347,000

Occupancy floor 57%

Sensitivity live

Price	-10% $2,417	-5% $2,298	+0% $2,178	+5% $2,058	+10% $1,938
Rent	-10% $1,720	-5% $1,949	+0% $2,178	+5% $2,406	+10% $2,635
Rate	-1.0pp $2,352	-0.5pp $2,266	base $2,178	+0.5pp $2,088	+1.0pp $1,996

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.3	$5,793
Total (3 units)			$5,792

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: $86,750
• Closing costs: $10,410
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-18
   days on market $347,000 Active 2 DOM
2. 2026-06-16
   remarks 699-char remark
3. 2026-06-16
   listed $347,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥96°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: $69,504
• − Mortgage interest: −$19,437
• − Property taxes: −$5,205
• − Insurance: −$1,735
• − Repairs & maintenance: −$5,560
• − Management: −$5,560
• − Depreciation: −$10,095
• Taxable income: $21,911
• Est. tax owed @ 24.0%: −$5,259
• After-tax cash flow: $20,873/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): 12,792
• Household income: $40,646
• Rent vs Own: 78.0% rent · 22.0% own
• Severe rent burden: 1300.0

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 0.67)
• Race & ethnicity: Black 50% White 25% Two or more races 13% Hispanic / Latino 12% Asian 4%
• Hispanic origin (detail): Puerto Rican 10%
• Common ancestry: Lithuanian 1% Romanian 1% Iranian 1%
• Foreign-born: 8% · Canada, India
• Languages at home: 85% English-only · Spanish 8% Other Indo-European 3% French/Haitian/Cajun 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: ▲ 3.69%
• Current HPI: 280.2411
• Rent YoY: ▲ 6.61%
• 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

+26.2% since first listed

5 events — show timeline

• 2026-06-16 Listed $347,000 UNYREIS
• 2020-10-16 Sold (MLS) $249,900 UNYREIS
• 2020-07-08 Pending — UNYREIS
• 2020-06-08 Price Changed $249,900 UNYREIS
• 2020-05-07 Listed $275,000 UNYREIS