1561 Paddy Ln · Macedon, NY 14502

$275,000

16 bd · 16.0 ba · 4,692 sqft · MultiFamily public records · 43 Days on market

Built 1962 0.93 ac lot $59/sqft · 75% below area ↓ 58% since listing

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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 (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

A rare offering! This 2 story 4 unit offers a ground level basement and 2 car garage. Ample parking with a park like . 93 acre setting! Many recent improvements. Priced to sell and ready to earn! See MLS R1672391 regarding adjoining house and 9.0 creek side acres! Sq. Ft. from actual measurements.

Key facts

• 0.93 acre lot
• 2 garage spots
• Built 1962

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/4.0-bath units multifamily listed at $275k.

Deal economics

• At list price, monthly cash flow is $5k ($57k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $275k).
• Recommended offer: $267k (3.0% below list) — sets the bar for market timing.

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: schools D+, 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.
• 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 $8k 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 $77k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($267k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $375k (58%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price.

Recommended offer $266,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 3.19% ✓
• Cap rate: 27.05%
• Cash-on-cash: 74.12%
• DSCR: 4.30
• GRM: 2.6

CMA / ARV

• ARV (median comp): $615,947
• List price: $275,000
• Delta: -55.35%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 74.0%
• Equity multiple: 4.36×
• Total profit: $258,652
• Equity at exit: $41,003

10-year hold

• IRR: 77.8%
• Equity multiple: 9.01×
• Total profit: $616,503
• Equity at exit: $23,777

Cash invested: $77,000 (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: 10.4×

Monthly cashflow live

• Estimated rent: $8,774 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$619 /mo · $7,425/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,843
• Net cashflow: $4,756

Break-even live

Break-even rent $2,754

Max offer price $275,000

Occupancy floor 41%

Sensitivity live

Price	-10% $4,912	-5% $4,834	+0% $4,756	+5% $4,678	+10% $4,600
Rent	-10% $4,063	-5% $4,409	+0% $4,756	+5% $5,103	+10% $5,449
Rate	-1.0pp $4,894	-0.5pp $4,826	base $4,756	+0.5pp $4,685	+1.0pp $4,612

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	4	$8,776
Total (4 units)			$8,774

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-12
   price $275,000 301-char remark

   Show marketing remark (301 chars)

   A rare offering! This 2 story 4 unit offers a ground level basement and 2 car garage. Ample parking with a park like . 93 acre setting! Many recent improvements. Priced to sell and ready to earn! See MLS R1672391 regarding adjoining house and 9.0 creek side acres! Sq. Ft. from actual measurements.

2. 2026-05-11
   status Active 301-char remark

   Show marketing remark (301 chars)

   A rare offering! This 2 story 4 unit offers a ground level basement and 2 car garage. Ample parking with a park like . 93 acre setting! Many recent improvements. Priced to sell and ready to earn! See MLS R1672391 regarding adjoining house and 9.0 creek side acres! Sq. Ft. from actual measurements.

3. 2026-05-11
   price $525,000 301-char remark

   Show marketing remark (301 chars)

   A rare offering! This 2 story 4 unit offers a ground level basement and 2 car garage. Ample parking with a park like . 93 acre setting! Many recent improvements. Priced to sell and ready to earn! See MLS R1672391 regarding adjoining house and 9.0 creek side acres! Sq. Ft. from actual measurements.

4. 2026-05-06
   status Pending 301-char remark

   Show marketing remark (301 chars)

   A rare offering! This 2 story 4 unit offers a ground level basement and 2 car garage. Ample parking with a park like . 93 acre setting! Many recent improvements. Priced to sell and ready to earn! See MLS R1672391 regarding adjoining house and 9.0 creek side acres! Sq. Ft. from actual measurements.

5. 2026-04-21
   price $575,000 301-char remark

   Show marketing remark (301 chars)

   A rare offering! This 2 story 4 unit offers a ground level basement and 2 car garage. Ample parking with a park like . 93 acre setting! Many recent improvements. Priced to sell and ready to earn! See MLS R1672391 regarding adjoining house and 9.0 creek side acres! Sq. Ft. from actual measurements.

6. 2026-04-09
   listed $650,000 Active 301-char remark

   Show marketing remark (301 chars)

   A rare offering! This 2 story 4 unit offers a ground level basement and 2 car garage. Ample parking with a park like . 93 acre setting! Many recent improvements. Priced to sell and ready to earn! See MLS R1672391 regarding adjoining house and 9.0 creek side acres! Sq. Ft. from actual measurements.

ⓘ 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: $7,425 · $619/mo
• Projected year-2 tax: $7,425 · $619/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 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 16 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: $105,288
• − Mortgage interest: −$15,404
• − Property taxes: −$7,425
• − Insurance: −$1,375
• − Repairs & maintenance: −$8,423
• − Management: −$8,423
• − Depreciation: −$8,000
• Taxable income: $56,238
• Est. tax owed @ 24.0%: −$13,497
• After-tax cash flow: $43,575/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

-57.7% since first listed

6 events — show timeline

• 2026-05-12 Price Changed $275,000 UNYREIS
• 2026-05-11 Relisted — UNYREIS
• 2026-05-11 Price Changed $525,000 UNYREIS
• 2026-05-06 Pending — UNYREIS
• 2026-04-21 Price Changed $575,000 UNYREIS
• 2026-04-09 Listed $650,000 UNYREIS

Property tax history

+3.0%/yr

Latest (2025): $7,425 · -0.1% YoY. Source: county tax records.