28 Myrtle St · Rochester, NY 14606

$114,900

4 bd · 2.0 ba · 1,918 sqft · MultiFamily public records · 31 Days on market

Built 1900 6,300 sqft lot Est $92k · 25% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Great opportunity for an owner occupant or someone looking to add to their investment portfolio. Nothing to do but start making money or let your tenant pay your mortgage. Long term tenant in the lower unit. This home has been updated throughout including many mechanical updates. Roof is 8 years new, both furnaces and hot water heaters were replaced in 2018, and new electric meters. The enclosed porch provides additional space for the lower unit. Ample parking in the rear as well as the driveway. Showings to begin 6/4-6/6 from 12-4pm, no negotiations until 6/7 at 12pm.

Key facts

• Blacktop driveway
• Kitchen appliances
• Fenced yard

Tags

• FENCED YARD
• BLACKTOP DRIVEWAY
• OFF-STREET PARKING
• KITCHEN APPLIANCES

Property features AI

Finance

• Financial info: Building has 2 total units with separate gas and electric meters for each unit; Current rents listed: one unit at $750 and one unit at $650; Owner pays trash collection; trash included in rent; Operating expenses include trash

Exterior

• Parking: Paved parking with two or more spaces
• Utilities: Public water connected; Sewer connected; Electric service with circuit breakers
• Home design: Two-story building; Resale property
• Construction: Aluminum siding; Vinyl siding
• Exterior features: Fully fenced yard; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Each unit includes an oven/range and refrigerator; Dining area integrated with kitchen and living area in each unit
• Bedrooms: Two 2-bedroom units
• Flooring: Carpet; Tile; Varied flooring
• Bathrooms: Each unit has one full bathroom (2 full bathrooms total)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $115k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $648/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $115k).
• Recommended offer: $111k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.8% 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 (+6.3%/yr); 124 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $2,542/mo this rent would consume 55% of the median local household income ($56k/yr) (locally 986% 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 $794 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 + 6.3% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $80k; 44% 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 $111,453 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.21% ✓
• Cap rate: 19.82%
• Cash-on-cash: 48.32%
• DSCR: 3.15
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $92,064
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9 Lasalle St	0.21mi	5/2.0 (+1)	1,871 (-2%)	6mo	$90,000	$48	76
515 Lyell Ave	0.11mi	4/2.0	2,094 (+9%)	5mo	$33,000	$16	76
98 Lime St	0.26mi	4/2.0	1,978 (+3%)	10mo	$125,000	$63	75
475 Sherman St	0.57mi	4/2.0	2,016 (+5%)	5mo	$150,000	$74	60
17 Masseth St	0.27mi	5/2.0 (+1)	1,760 (-8%)	10mo	$130,000	$74	60
31 Plover St	0.64mi	4/2.0	1,776 (-7%)	6mo	$123,000	$69	53
191 Emerson St	0.65mi	5/2.0 (+1)	1,808 (-6%)	9mo	$45,000	$25	48
304 Ravine Ave	0.72mi	3/2.0 (-1)	1,812 (-6%)	7mo	$35,000	$19	46
2 Costar St	0.63mi	4/2.0	2,122 (+11%)	12mo	$125,000	$59	43
70 Walnut St	0.65mi	4/2.0	1,641 (-14%)	10mo	$70,000	$43	37
85 Fulton Ave	0.70mi	5/2.0 (+1)	1,708 (-11%)	15mo	$57,000	$33	32
270 Ravine Ave	0.73mi	3/3.0 (-1)	1,644 (-14%)	18mo	$40,000	$24	18

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 · 6.28% rent growth · sell at horizon

5-year hold

• IRR: 49.4%
• Equity multiple: 3.25×
• Total profit: $72,542
• Equity at exit: $17,132

10-year hold

• IRR: 56.2%
• Equity multiple: 7.45×
• Total profit: $207,401
• Equity at exit: $9,934

Cash invested: $32,172 (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 14606

• Home prices YoY: -17.9%
• Rents YoY: 6.3%
• Active inventory: 124
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,542 high
• Mortgage (P&I): −$603
• Tax from tax record: −$62 /mo · $748/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$534
• Net cashflow: $1,295

Break-even live

Break-even rent $902

Max offer price $114,900

Occupancy floor 44%

Sensitivity live

Price	-10% $1,360	-5% $1,328	+0% $1,295	+5% $1,263	+10% $1,230
Rent	-10% $1,095	-5% $1,195	+0% $1,295	+5% $1,396	+10% $1,496
Rate	-1.0pp $1,353	-0.5pp $1,325	base $1,295	+0.5pp $1,266	+1.0pp $1,235

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,542
Total (2 units)			$2,542

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
649 Jay St Rochester, NY	5.0	2.0	2144	$2,000	$0.93	3d	1	0.43mi
385 Ames St Rochester, NY	3.0	1.5	1738	$1,500	$0.86	21d	1	0.51mi
327 Glenwood Ave Rochester, NY	3.0	1.0	2012	$1,690	$0.84	3d	1	0.80mi
108 Wetmore Park Rochester, NY	3.0	2.0	1278	$1,900	$1.49	11d	1	0.83mi
2 Jay St Unit 2 Rochester, NY	3.0	1.0	1252	$1,045	$0.83	44d	1	0.99mi
48 Thorndale Ter Rochester, NY	4.0	1.5	1700	$1,400	$0.82	15d	1	1.14mi
98 Pierpont St Rochester, NY	3.0	1.0	1973	$1,295	$0.66	44d	1	1.15mi
28-30 Carthage Dr Unit 28 Rochester, NY	3.0	1.0	1415	$1,600	$1.13	24d	1	1.22mi
478 Tremont St Rochester, NY	3.0	2.0	1424	$1,500	$1.05	44d	1	1.33mi
161 Fillmore St Rochester, NY	4.0	2.0	1612	$1,400	$0.87	15d	1	1.36mi
1016 Lake Ave Unit 1 Rochester, NY	3.0	1.0	1300	$1,600	$1.23	44d	1	1.41mi
190 Warwick Ave Rochester, NY	3.0	1.5	1240	$1,400	$1.13	44d	1	1.42mi

Listing history 20 events

1. 2026-06-18
   days on market $114,900 Active 31 DOM
2. 2026-06-17
   days on market $114,900 Active 30 DOM
3. 2026-06-16
   days on market $114,900 Active 29 DOM
4. 2026-06-15
   days on market $114,900 Active 28 DOM
5. 2026-06-13
   days on market $114,900 Active 26 DOM
6. 2026-06-13
   days on market $114,900 Active 25 DOM
7. 2026-06-10
   days on market $114,900 Active 23 DOM
8. 2026-06-09
   days on market $114,900 Active 22 DOM
9. 2026-06-09
   days on market $114,900 Active 21 DOM
10. 2026-06-07
    days on market $114,900 Active 20 DOM
11. 2026-06-05
    days on market $114,900 Active 17 DOM
12. 2026-06-03
    days on market $114,900 Active 16 DOM
13. 2026-06-03
    days on market $114,900 Active 15 DOM
14. 2026-06-01
    days on market $114,900 Active 14 DOM
15. 2026-05-31
    days on market $114,900 Active 13 DOM
16. 2026-05-18
    listed $114,900 Active
17. 2021-09-06
    soldstatus $80,000 Closed Sale or Rented 575-char remark

    Show marketing remark (575 chars)

    Great opportunity for an owner occupant or someone looking to add to their investment portfolio. Nothing to do but start making money or let your tenant pay your mortgage. Long term tenant in the lower unit. This home has been updated throughout including many mechanical updates. Roof is 8 years new, both furnaces and hot water heaters were replaced in 2018, and new electric meters. The enclosed porch provides additional space for the lower unit. Ample parking in the rear as well as the driveway. Showings to begin 6/4-6/6 from 12-4pm, no negotiations until 6/7 at 12pm.

18. 2021-08-23
    soldstatus $80,000
19. 2021-06-09
    status Under Contract- Do Not Show 575-char remark

    Show marketing remark (575 chars)

    Great opportunity for an owner occupant or someone looking to add to their investment portfolio. Nothing to do but start making money or let your tenant pay your mortgage. Long term tenant in the lower unit. This home has been updated throughout including many mechanical updates. Roof is 8 years new, both furnaces and hot water heaters were replaced in 2018, and new electric meters. The enclosed porch provides additional space for the lower unit. Ample parking in the rear as well as the driveway. Showings to begin 6/4-6/6 from 12-4pm, no negotiations until 6/7 at 12pm.

20. 2021-06-02
    listed $59,900 Active 575-char remark

    Show marketing remark (575 chars)

    Great opportunity for an owner occupant or someone looking to add to their investment portfolio. Nothing to do but start making money or let your tenant pay your mortgage. Long term tenant in the lower unit. This home has been updated throughout including many mechanical updates. Roof is 8 years new, both furnaces and hot water heaters were replaced in 2018, and new electric meters. The enclosed porch provides additional space for the lower unit. Ample parking in the rear as well as the driveway. Showings to begin 6/4-6/6 from 12-4pm, no negotiations until 6/7 at 12pm.

ⓘ 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: $748 · $62/mo
• Projected year-2 tax: $1,345 · $112/mo
• Expected delta: +$597/yr (+$50/mo · 79.9%)

ⓘ 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: $30,504
• − Mortgage interest: −$6,436
• − Property taxes: −$748
• − Insurance: −$574
• − Repairs & maintenance: −$2,440
• − Management: −$2,440
• − Depreciation: −$3,343
• Taxable income: $14,522
• Est. tax owed @ 24.0%: −$3,485
• After-tax cash flow: $12,060/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): 25,538
• Household income: $55,807
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 986.0

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 0.64)
• Race & ethnicity: White 51% Black 26% Hispanic / Latino 17% Two or more races 8% Asian 3%
• Hispanic origin (detail): Puerto Rican 12% Cuban 2%
• Common ancestry: Romanian 3% Lithuanian 1% Iranian 1%
• Foreign-born: 10% · Canada, Vietnam, Philippines
• Languages at home: 79% English-only · Spanish 12% Other Indo-European 3% Other Asian/Pacific 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: ▼ -62.59%
• Current HPI: 287.6868
• Rent YoY: ▲ 6.28%
• 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

+91.8% since first listed

5 events — show timeline

• 2026-05-18 Listed $114,900 UNYREIS
• 2021-09-06 Sold (MLS) $80,000 UNYREIS
• 2021-08-23 Sold (Public Records) $80,000 Public Records
• 2021-06-09 Pending — UNYREIS
• 2021-06-02 Listed $59,900 UNYREIS

Property tax history

+3.5%/yr

Latest (2025): $748 · +0.0% YoY. Source: county tax records.