187 Nichols St · Rochester, NY 14609

$119,900

3 bd · 1.0 ba · 1,464 sqft · SingleFamily public records · 8 Days on market

Built 1920 3,936 sqft lot Est $171k · 30% 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
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• 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

Listing remarks MLS

This property is a nice house that needs no major love. It has large size rooms and even a detached garage. Stop in today take a look, if you know someone who is handy they can turn this house into a home for you! The Price is Right! This property is UNINSURED WITH THE FOLLOWING REPAIR ITEMS. PER PCR NEW ROOF REQUIRED. $6,000.00; PER PCR ELECTRICAL SERVICE REPAIR. $500.00; MINOR PAINT REPAIR ON EXTERIOR. $750.00; COPPER PLUMBING IS MISSING IN BASEMENT. $1,500.00

Key facts

• 3,936 sq ft lot
• Garage
• Built 1920

Property features AI

Exterior

• Parking: Detached garage; 1 garage space
• Utilities: Cable available; Electricity connected (circuit breakers); Public water connected; Sewer connected
• Home design: 2-story house; Resale property
• Construction: Aluminum siding; Copper plumbing; Asphalt roof; Block foundation; Existing (built previously)
• Exterior features: Blacktop driveway; Enclosed porch; Covered porch; Patio

Interior

• Kitchen: Gas oven; Gas range; Microwave; Refrigerator; Appliances negotiable
• Bedrooms: Total rooms: 5 (includes laundry and entry foyer)
• Flooring: Carpet; Laminate; Luxury vinyl; Resilient flooring; Varied flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas forced-air heating; Window-unit cooling
• Interior features: Separate/formal dining room; Entrance foyer; Eat-in kitchen; Window treatments; Drapes
• Laundry & utility: Washer included; Laundry located in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $562 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 11.9% vs local median 9.3% in Rochester — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• This rent runs 32% 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 $829 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~5 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 since 15y 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 $23k; list at $120k implies a 419% 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 $119,900

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 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: 1.43% ✓
• Cap rate: 11.92%
• Cash-on-cash: 20.10%
• DSCR: 1.89
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $171,288
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
227 Newcomb St	0.12mi	3/2.0	1,372 (-6%)	1mo	$225,000	$164	80
30 Newcomb St	0.27mi	3/2.0	1,502 (+3%)	1mo	$70,000	$47	78
1646 Norton St	0.59mi	3/1.5	1,450 (-1%)	0mo	$135,000	$93	69
1542 N Goodman St	0.39mi	4/2.0 (+1)	1,340 (-8%)	0mo	$205,000	$153	58
207 Herald St	0.59mi	3/2.0	1,288 (-12%)	1mo	$60,000	$47	48
281 Ellison St	0.58mi	4/3.0 (+1)	1,350 (-8%)	0mo	$184,000	$136	46
1863 Norton St	0.74mi	4/1.0 (+1)	1,326 (-9%)	2mo	$155,000	$117	44
128 5th St	0.73mi	4/1.0 (+1)	1,606 (+10%)	2mo	$62,000	$39	43
298 Fieldwood Dr	0.75mi	4/2.0 (+1)	1,320 (-10%)	2mo	$193,000	$146	38
265 Springfield Ave	0.70mi	4/1.5 (+1)	1,268 (-13%)	0mo	$200,000	$158	37
865 N Goodman St	0.67mi	4/1.5 (+1)	1,245 (-15%)	2mo	$76,000	$61	35
1271 North St	0.74mi	4/1.5 (+1)	1,276 (-13%)	2mo	$128,900	$101	35

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: 17.6%
• Equity multiple: 1.75×
• Total profit: $25,236
• Equity at exit: $17,877

10-year hold

• IRR: 29.2%
• Equity multiple: 4.23×
• Total profit: $108,278
• Equity at exit: $10,367

Cash invested: $33,572 (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 14609

• Home prices YoY: -30.4%
• Rents YoY: 7.9%
• Active inventory: 199
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,714 high
• Mortgage (P&I): −$629
• Tax from tax record: −$113 /mo · $1,352/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $562

Break-even live

Break-even rent $1,002

Max offer price $119,900

Occupancy floor 62%

Sensitivity live

Price	-10% $630	-5% $596	+0% $562	+5% $528	+10% $494
Rent	-10% $427	-5% $495	+0% $562	+5% $630	+10% $698
Rate	-1.0pp $623	-0.5pp $593	base $562	+0.5pp $531	+1.0pp $500

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
207 Lux St Rochester, NY	4.0	1.5	1728	$2,150	$1.24	11d	1	0.18mi
811 Portland Ave Rochester, NY	2.0	1.0	1616	$1,300	$0.80	15d	1	0.30mi
47 Priscilla St Rochester, NY	4.0	1.5	1250	$1,900	$1.52	22d	1	0.33mi
— Rochester, NY	2.0	1.0	896	$1,100	$1.23	14d	1	0.44mi
25 Trust St Rochester, NY	3.0	1.5	1003	$1,600	$1.60	4d	1	0.46mi
171 Mohawk St Rochester, NY	3.0	2.0	1054	$1,775	$1.68	44d	1	0.46mi
326 Northland Ave Rochester, NY	3.0	1.0	1168	$1,500	$1.28	3d	1	0.46mi
127 Carter St #125 Rochester, NY	2.0	1.0	1320	$1,400	$1.06	44d	1	0.49mi
52 Frances St Rochester, NY	4.0	1.0	1256	$1,595	$1.27	44d	1	0.55mi
86-88 Baycliff Dr Unit 86 Rochester, NY	2.0	1.0	900	$1,030	$1.14	22d	1	0.60mi
1890 Clifford Ave Rochester, NY	3.0	1.0	936	$1,800	$1.92	24d	1	0.61mi
176 Roycroft Dr Rochester, NY	3.0	1.0	1169	$950	$0.81	11d	1	0.63mi
222 Ellison St Rochester, NY	2.0	1.0	971	$1,000	$1.03	14d	1	0.67mi
59 Clark Ave Rochester, NY	4.0	1.0	1728	$1,800	$1.04	3d	1	0.72mi
147 5th St Rochester, NY	4.0	1.0	1289	$1,950	$1.51	22d	1	0.73mi
117 Northaven Ter Rochester, NY	4.0	2.0	1460	$1,975	$1.35	11d	1	0.75mi
32 Portland Pkwy Rochester, NY	2.0	1.0	652	$1,485	$2.28	3d	8	0.75mi
95 Onondaga Rd Rochester, NY	1.0–2.0	1.0	825	$1,630	$1.98	3d	1	0.86mi
100 Fairbanks St Rochester, NY	2.0	1.0	1456	$1,100	$0.76	45d	1	0.94mi
239 Weyl St Rochester, NY	3.0	1.0	1208	$1,600	$1.32	20d	1	1.00mi
126 Parsells Ave Rochester, NY	3.0	1.0	1574	$1,800	$1.14	44d	1	1.03mi
126 Parsells Ave Rochester, NY	3.0	1.0	1574	$1,800	$1.14	22d	1	1.03mi
195 Parsells Ave Rochester, NY	4.0	1.0	1413	$1,265	$0.90	4d	1	1.09mi
36 Charwood Cir Irondequoit, NY	1.0–2.0	1.0–1.5	930	$2,005	$2.16	3d	9	1.12mi
36 Charwood Cir Irondequoit, NY	2.0	1.0–1.5	1000	$1,675	$1.68	44d	3	1.12mi
420 Rosewood Ter Rochester, NY	3.0	1.0	1246	$1,300	$1.04	4d	1	1.24mi
459-461 Parsells Ave Rochester, NY	2.0	1.0	1053	$1,450	$1.38	24d	1	1.27mi
182 Laurelton Rd Unit 182 Rochester, NY	2.0	1.5	1000	$1,600	$1.60	11d	1	1.27mi
149 Brookdale Park Rochester, NY	4.0	1.5	1543	$2,950	$1.91	22d	1	1.29mi
2450 Culver Rd Rochester, NY	3.0	1.5	1380	$2,400	$1.74	4d	1	1.34mi
2519 Culver Rd Rochester, NY	1.0–2.0	1.0	800	$1,395	$1.74	11d	4	1.34mi
1159 Culver Rd Unit A2 UP Rochester, NY	3.0	1.0	1313	$1,500	$1.14	44d	1	1.34mi

Listing history 4 events

1. 2026-04-15
   status Pending
2. 2026-04-07
   listed $119,900 Active
3. 2011-04-21
   soldstatus $23,100 469-char remark

   Show marketing remark (469 chars)

   This property is a nice house that needs no major love. It has large size rooms and even a detached garage. Stop in today take a look, if you know someone who is handy they can turn this house into a home for you! The Price is Right! This property is UNINSURED WITH THE FOLLOWING REPAIR ITEMS. PER PCR NEW ROOF REQUIRED. $6,000.00; PER PCR ELECTRICAL SERVICE REPAIR. $500.00; MINOR PAINT REPAIR ON EXTERIOR. $750.00; COPPER PLUMBING IS MISSING IN BASEMENT. $1,500.00

4. 2011-01-12
   listed $21,000 469-char remark

   Show marketing remark (469 chars)

   This property is a nice house that needs no major love. It has large size rooms and even a detached garage. Stop in today take a look, if you know someone who is handy they can turn this house into a home for you! The Price is Right! This property is UNINSURED WITH THE FOLLOWING REPAIR ITEMS. PER PCR NEW ROOF REQUIRED. $6,000.00; PER PCR ELECTRICAL SERVICE REPAIR. $500.00; MINOR PAINT REPAIR ON EXTERIOR. $750.00; COPPER PLUMBING IS MISSING IN BASEMENT. $1,500.00

ⓘ 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: $1,352 · $113/mo
• Projected year-2 tax: $1,689 · $141/mo
• Expected delta: +$337/yr (+$28/mo · 24.9%)

ⓘ 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: $20,563
• − Mortgage interest: −$6,716
• − Property taxes: −$1,352
• − Insurance: −$600
• − Repairs & maintenance: −$1,645
• − Management: −$1,645
• − Depreciation: −$3,488
• Taxable income: $5,117
• Est. tax owed @ 24.0%: −$1,228
• After-tax cash flow: $5,520/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

+471.0% since first listed

4 events — show timeline

• 2026-04-15 Pending — UNYREIS
• 2026-04-07 Listed $119,900 UNYREIS
• 2011-04-21 Sold (MLS) $23,100 UNYREIS
• 2011-01-12 Listed $21,000 UNYREIS

Property tax history

+5.5%/yr

Latest (2025): $1,352 · +0.0% YoY. Source: county tax records.