1 Erie St N · Macedon, NY 14502

$225,000

3 bd · 2.0 ba · 1,780 sqft · MultiFamily public records · 8 Days on market

Built 1870 0.32 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• 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: 3 units. confirmed

Listing remarks

Prime Investment Opportunity: Versatile 3-Family Property with Owner Financing Available! 1 N Erie St, Macedon, NY 14502 Gross Monthly Revenue: $3,100 Square footage includes the garage apartment Price: $225,000 Property Overview: Unlock incredible cash flow or live for next to nothing with this unique, multi-unit residential property in the heart of Macedon! Situated on a spacious lot in the Palmyra-Macedon School District, this 3-family property offers an ideal setup for an investor looking to expand their portfolio or an owner-occupant wanting their tenants to pay the mortgage. The Units: The property features an intelligent layout spread across a main house and a detached

Key facts

• Intelligent layout
• Spacious lot
• Newer metal roof

Tags

• SPACIOUS LOT
• INTELLIGENT LAYOUT
• DETACHED MULTI STORY GARAGE
• PRIVATE THIRD APARTMENT
• NEWER METAL ROOF
• UPDATED ELECTRICAL SYSTEM

Property features AI

Finance

• Other: Owner pays water (water included in rent)
• Financial info: Multifamily building with 3 total units; Each unit has separate gas and electric meters; Gross income approximately $37,200; Operating expenses about $1,500 (includes insurance and water)

Exterior

• Parking: Detached or attached garage with 2 spaces; Paved parking; More than one parking space
• Utilities: Public water connected; Sewer connected; Cable available; High-speed internet available; Electric service with circuit breakers and fuses
• Home design: 2-story property; Existing construction
• Construction: Composite siding; Copper plumbing; Asphalt and metal roof
• Exterior features: Enclosed porch; Porch; Rectangular residential lot; City street frontage; Lot dimensions approximately 109 x 118

Interior

• Flooring: Carpet; Vinyl; Varies
• Bathrooms: 3 full bathrooms
• Heating & cooling: Gas forced air heating
• Interior features: Thermal windows; Natural woodwork
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3 × 3.0-bed/1.5-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $742/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $225k).

Location & tenants

• Location reads 72/100 on livability (#377 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A; Watch: amenities F, commute F.
• Palmyra-Macedon Central School District (town): math 41% / reading 51% proficiency, ranked #443 of 590 in NY (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Palmyra-Macedon Primary School (440 students, 37% FRL); Palmyra-Macedon Middle School (math 27% / reading 41%, grade F, #497 of 729 statewide, top 69%, 367 students, 46% FRL); Palmyra-Macedon Senior High School (math 98% / reading 98%, grade A+, #19 of 1,100 statewide, top 4%, 605 students, 37% FRL).
• Zoned-school proficiency averages 66% at this address vs 46% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Palmyra-Macedon Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 49 active listings in the ZIP; 259 units permitted in Wayne County in 2024 (90 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Wayne County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $120k; list at $225k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $225,000

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 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 2.25% ✓
• Cap rate: 18.17%
• Cash-on-cash: 42.43%
• DSCR: 2.89
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 39.2%
• Equity multiple: 2.68×
• Total profit: $105,620
• Equity at exit: $33,548

10-year hold

• IRR: 45.6%
• Equity multiple: 5.37×
• Total profit: $275,503
• Equity at exit: $19,454

Cash invested: $63,000 (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 14502

• Home prices YoY: -26.0%
• Active inventory: 49
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $5,062 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$498 /mo · $5,974/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,063
• Net cashflow: $2,227

Break-even live

Break-even rent $2,242

Max offer price $225,000

Occupancy floor 51%

Sensitivity live

Price	-10% $2,355	-5% $2,291	+0% $2,227	+5% $2,164	+10% $2,100
Rent	-10% $1,828	-5% $2,028	+0% $2,227	+5% $2,427	+10% $2,627
Rate	-1.0pp $2,341	-0.5pp $2,285	base $2,227	+0.5pp $2,169	+1.0pp $2,110

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

Units	Beds	Baths	Est. rent
▸ 3× units	3.0	1.5	$5,061
Total (3 units)			$5,062

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   status $225,000 Pending 8 DOM
2. 2026-06-17
   days on market $225,000 Active 8 DOM
3. 2026-06-16
   days on market $225,000 Active 7 DOM
4. 2026-06-15
   days on market $225,000 Active 6 DOM
5. 2026-06-13
   days on market $225,000 Active 4 DOM
6. 2026-06-13
   days on market $225,000 Active 3 DOM
7. 2026-06-10
   remarks 699-char remark
8. 2026-06-10
   listed $225,000 Active 1 DOM

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

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $5,974 · $498/mo
• Projected year-2 tax: $5,974 · $498/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 17 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: $60,744
• − Mortgage interest: −$12,603
• − Property taxes: −$5,974
• − Insurance: −$1,125
• − Repairs & maintenance: −$4,860
• − Management: −$4,860
• − Depreciation: −$6,545
• Taxable income: $24,777
• Est. tax owed @ 24.0%: −$5,947
• After-tax cash flow: $20,783/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: Palmyra-Macedon Central School District
• NCES district ID: 3622380
• Math proficiency: 41% ▼ -5.00%
• Reading proficiency: 51% ▲ 10.00%
• Median HH income: $52,190
• Composite: 39.65/100
• National rank: #3915
• State rank: #443 of 590 in NY

Livability — Macedon

• Score: 72/100
• State rank: #377
• US rank: #6461

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Macedon, NY
• Population (ZIP): 10,515

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 85,662 people
• By 2030: 81,945 · -4.3%
• By 2040: 73,735 · -13.9%
• By 2050: 65,029 · -24.1%
• By 2075: 47,451 · -44.6%
• By 2100: 31,574 · -63.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Asian 3% Black 1% Hispanic / Latino 1%
• Common ancestry: Iranian 8% Romanian 7% Lithuanian 3%
• Foreign-born: 4% · China, South Korea
• Languages at home: 94% English-only · Russian/Polish/Slavic 2% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Wayne

• 2024 margin: Strong R (+23.1) · D 38.5% · R 61.5%
• 2008→2024 swing: -13.2pp toward R · 2008: -9.9pp · 2024: -23.1pp
• All cycles: 2024: R+23.1 2020: R+19.6 2016: R+26.1 2012: R+9.3 2008: R+9.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.25%
• Current HPI: 242.5682
• Rent YoY: —
• Metro: —
• 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

+275.0% since first listed

5 events — show timeline

• 2026-06-09 Listed $225,000 UNYREIS
• 2024-05-31 Sold (Public Records) $120,000 Public Records
• 2020-08-31 Sold (Public Records) $90,000 Public Records
• 2020-08-31 Sold (Public Records) $90,000 Public Records
• 2000-12-08 Sold (Public Records) $60,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $5,974 · -2.5% YoY. Source: county tax records.