40 Forester St · Rochester, NY 14609

$80,000

4 bd · 2.0 ba · 1,685 sqft · MultiFamily public records · 16 Days on market

Built 1910 3,920 sqft lot Est $142k · 43% 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: 2 units. confirmed

Listing remarks

Another Rockin' Rochester Property! A well-maintained duplex investment property offering two spacious 2-bed, 1-bath units, each occupied by long-term, reliable tenants who provide consistent and predictable rental performance. Generating a solid $20,700 in annual rental income, this property delivers immediate cash flow with minimal turnover—an ideal opportunity for both seasoned and first-time investors seeking stability in the Rochester market. Each unit features a practical layout with comfortable living areas, functional kitchens, and well-sized bedrooms. Tenants benefit from off-street parking, a valuable convenience in the neighborhood and a strong contributor to tenant retenti

Key facts

• Immediate cash flow
• Annual rental income
• Off-street parking

Tags

• DUPLEX INVESTMENT PROPERTY
• ANNUAL RENTAL INCOME
• IMMEDIATE CASH FLOW
• OFF-STREET PARKING

Property features AI

Finance

• Other: Two total units with separate gas and electric meters for each unit
• Financial info: Owner pays trash collection and water; rent includes trash collection and water; Operating expenses may include maintenance structure, maintenance, professional management, and water/sewer

Exterior

• Parking: Paved parking
• Utilities: Sewer connected; Water from spring
• Home design: 2-story residential 2-unit property; Existing construction
• Construction: Vinyl siding; Asphalt roof; Block foundation; Built (existing)
• Exterior features: Partial fencing; Fence; Near public transit; Rectangular lot

Interior

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

🏷️ Possibly a rental listed for sale. The $80,000 price doesn't fit this home's estimated sale value (~$141,540) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $80k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $812/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 30.6% 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; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $2,720/mo this rent would consume 51% 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 $553 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,800 (1.5% below list)

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 1910 — 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: 3.40% ✓
• Cap rate: 30.65%
• Cash-on-cash: 86.98%
• DSCR: 4.87
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $141,540
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
659 Bay St	0.20mi	4/2.0	1,584 (-6%)	7mo	$65,500	$41	75
37 Forester St	0.02mi	4/2.0	1,494 (-11%)	7mo	$82,000	$55	74
87 Newcomb St	0.33mi	4/2.0	1,760 (+4%)	6mo	$152,000	$86	72
188 Cummings St	0.33mi	4/2.0	1,738 (+3%)	10mo	$146,500	$84	71
16-20 Cummings St	0.23mi	4/2.0	1,564 (-7%)	11mo	$129,000	$82	68
415 Fernwood Ave	0.38mi	4/2.0	1,636 (-3%)	14mo	$163,000	$100	66
22 5th St	0.46mi	4/2.0	1,803 (+7%)	7mo	$110,000	$61	61
567 Hayward Ave	0.72mi	4/2.0	1,694 (+0%)	6mo	$230,000	$136	60
71 Crombie St	0.22mi	3/2.0 (-1)	1,445 (-14%)	3mo	$122,000	$84	59
349 Hazelwood	0.74mi	4/2.0	1,800 (+7%)	6mo	$166,000	$92	49
46 Peck St	0.57mi	4/2.0	1,526 (-9%)	11mo	$138,000	$90	49
296 Parsells Ave	0.63mi	5/2.0 (+1)	1,904 (+13%)	4mo	$133,000	$70	40

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: 92.9%
• Equity multiple: 5.67×
• Total profit: $104,508
• Equity at exit: $11,928

10-year hold

• IRR: 96.8%
• Equity multiple: 13.86×
• Total profit: $288,018
• Equity at exit: $6,917

Cash invested: $22,400 (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: 4.9×

Monthly cashflow live

• Estimated rent: $2,720 high
• Mortgage (P&I): −$420
• Tax from tax record: −$72 /mo · $869/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$571
• Net cashflow: $1,624

Break-even live

Break-even rent $665

Max offer price $80,000

Occupancy floor 35%

Sensitivity live

Price	-10% $1,669	-5% $1,646	+0% $1,624	+5% $1,601	+10% $1,578
Rent	-10% $1,409	-5% $1,516	+0% $1,624	+5% $1,731	+10% $1,838
Rate	-1.0pp $1,664	-0.5pp $1,644	base $1,624	+0.5pp $1,603	+1.0pp $1,582

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,720
Total (2 units)			$2,720

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
52 Frances St Rochester, NY	4.0	1.0	1256	$1,595	$1.27	44d	1	0.07mi
47 Priscilla St Rochester, NY	4.0	1.5	1250	$1,900	$1.52	22d	1	0.19mi
147 5th St Rochester, NY	4.0	1.0	1289	$1,950	$1.51	22d	1	0.34mi
126 Parsells Ave Rochester, NY	3.0	1.0	1574	$1,800	$1.14	44d	1	0.52mi
126 Parsells Ave Rochester, NY	3.0	1.0	1574	$1,800	$1.14	22d	1	0.52mi
195 Parsells Ave Rochester, NY	4.0	1.0	1413	$1,265	$0.90	4d	1	0.59mi
207 Lux St Rochester, NY	4.0	1.5	1728	$2,150	$1.24	11d	1	0.64mi
326 Northland Ave Rochester, NY	3.0	1.0	1168	$1,500	$1.28	3d	1	0.69mi
420 Rosewood Ter Rochester, NY	3.0	1.0	1246	$1,300	$1.04	4d	1	0.85mi
1 Champeney Ter Rochester, NY	3.0	1.0	1936	$1,650	$0.85	15d	1	0.93mi
171 Mohawk St Rochester, NY	3.0	2.0	1054	$1,775	$1.68	44d	1	0.93mi
1159 Culver Rd Unit A2 UP Rochester, NY	3.0	1.0	1313	$1,500	$1.14	44d	1	0.93mi
176 Roycroft Dr Rochester, NY	3.0	1.0	1169	$950	$0.81	11d	1	0.98mi
59 Clark Ave Rochester, NY	4.0	1.0	1728	$1,800	$1.04	3d	1	1.13mi
108 Bowman St Unit 1 Rochester, NY	3.0	1.0	1200	$1,600	$1.33	44d	1	1.17mi
117 Northaven Ter Rochester, NY	4.0	2.0	1460	$1,975	$1.35	11d	1	1.25mi
733 University Ave #3 Rochester, NY	3.0	1.5	1400	$1,850	$1.32	44d	1	1.25mi
1079 Garson Ave Rochester, NY	3.0	1.5	1273	$2,100	$1.65	11d	1	1.29mi
239 Weyl St Rochester, NY	3.0	1.0	1208	$1,600	$1.32	19d	1	1.33mi

Listing history 13 events

1. 2026-06-13
   statusdays on market $80,000 Pending 16 DOM
2. 2026-06-10
   days on market $80,000 Active 14 DOM
3. 2026-06-09
   days on market $80,000 Active 13 DOM
4. 2026-06-09
   days on market $80,000 Active 12 DOM
5. 2026-06-07
   days on market $80,000 Active 11 DOM
6. 2026-06-05
   days on market $80,000 Active 8 DOM
7. 2026-06-03
   days on market $80,000 Active 7 DOM
8. 2026-06-03
   days on market $80,000 Active 6 DOM
9. 2026-06-01
   days on market $80,000 Active 5 DOM
10. 2026-05-31
    days on market $80,000 Active 4 DOM
11. 2026-05-27
    listed $80,000 Active
12. 2022-05-02
    soldstatus $75,000
13. 2006-06-14
    soldstatus $36,000

ⓘ 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: $869 · $72/mo
• Projected year-2 tax: $1,110 · $93/mo
• Expected delta: +$242/yr (+$20/mo · 27.8%)

ⓘ 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: $32,640
• − Mortgage interest: −$4,481
• − Property taxes: −$869
• − Insurance: −$400
• − Repairs & maintenance: −$2,611
• − Management: −$2,611
• − Depreciation: −$2,327
• Taxable income: $19,340
• Est. tax owed @ 24.0%: −$4,642
• After-tax cash flow: $14,841/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

+122.2% since first listed

3 events — show timeline

• 2026-05-27 Listed $80,000 UNYREIS
• 2022-05-02 Sold (Public Records) $75,000 Public Records
• 2006-06-14 Sold (Public Records) $36,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $869 · +0.0% YoY. Source: county tax records.