53 Carter St · Rochester, NY 14621

$199,000

8 bd · 3.0 ba · 2,777 sqft · MultiFamily public records · 35 Days on market

Built 1940 6,076 sqft lot Est $172k · 16% 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 +4.7/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• ARV discount +0.5/15.0
• 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

Fully Renovated All-Brick Three-Family – Turnkey & Vacant! Discover an exceptional investment or owner-occupant opportunity at 53 Carter St in the vibrant city of Rochester. This solid all-brick three-family property has been fully renovated from top to bottom and is delivered vacant, offering maximum flexibility for new owners. Each unit features modern updates throughout, including refreshed kitchens and baths and durable wood flooring—ideal for attracting quality tenants or creating comfortable living space for an owner-occupant looking to offset housing costs. Situated on a spacious lot, the property offers plenty of off-street parking, a highly desirable feature for

Key facts

• 6,076 sq ft lot
• 2 parking spots
• Built 1940

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $725/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $199k).
• Recommended offer: $193k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.4% 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 (+8.9%/yr); 116 active listings in the ZIP; lower-income renter base — watch delinquency; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $4,302/mo this rent would consume 146% of the median local household income ($35k/yr) (locally 2756% 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 $1k of loan paydown is wiped out by about $6k 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 + 8.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y 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 $85k; list at $199k implies a 134% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $193,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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 1940 — 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: 2.16% ✓
• Cap rate: 19.41%
• Cash-on-cash: 46.84%
• DSCR: 3.08
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $172,174
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
72-74 Carter St	0.03mi	7/3.0 (-1)	2,372 (-15%)	6mo	$80,000	$34	64
1321 North St	0.53mi	7/3.0 (-1)	2,756 (-1%)	14mo	$170,000	$62	58
244 6th St #242	0.61mi	8/3.0	2,450 (-12%)	7mo	$160,000	$65	46
86 Forester St	0.63mi	7/2.0 (-1)	2,664 (-4%)	20mo	$123,500	$46	38

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 49.5%
• Equity multiple: 3.31×
• Total profit: $128,969
• Equity at exit: $29,672

10-year hold

• IRR: 57.0%
• Equity multiple: 8.07×
• Total profit: $394,018
• Equity at exit: $17,206

Cash invested: $55,720 (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 14621

• Home prices YoY: -4.0%
• Rents YoY: 8.9%
• Active inventory: 116
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $4,302 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$97 /mo · $1,168/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$903
• Net cashflow: $2,175

Break-even live

Break-even rent $1,549

Max offer price $199,000

Occupancy floor 44%

Sensitivity live

Price	-10% $2,287	-5% $2,231	+0% $2,175	+5% $2,118	+10% $2,062
Rent	-10% $1,835	-5% $2,005	+0% $2,175	+5% $2,345	+10% $2,515
Rate	-1.0pp $2,275	-0.5pp $2,225	base $2,175	+0.5pp $2,123	+1.0pp $2,071

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,302
Total (3 units)			$4,302

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-04-29
   status Pending
2. 2026-04-24
   historical Active Under Contract
3. 2026-03-25
   listed $199,000 Active
4. 2024-07-31
   historical
5. 2024-06-14
   listed $120,000 Active
6. 2023-12-27
   status Pending
7. 2023-05-19
   status Under Contract- Do Not Show
8. 2023-05-18
   historical
9. 2023-04-20
   listed $120,000 Active
10. 2022-04-07
    price $750
11. 2021-06-28
    soldstatus $85,000 Closed Sale or Rented
12. 2021-03-21
    status Under Contract- Do Not Show
13. 2021-02-14
    listed $85,000 Active
14. 2016-06-15
    soldstatus $95,000 Closed Sale or Rented
15. 2015-09-15
    status Pending Sale
16. 2015-09-14
    listed $99,900 Active
17. 2015-08-07
    soldstatus $19,900 Closed Sale or Rented
18. 2015-06-26
    status Pending Sale
19. 2015-06-24
    listed $19,900 Active
20. 2007-11-14
    soldstatus $73,000
21. 1996-01-19
    soldstatus $59,000

ⓘ 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: $1,168 · $97/mo
• Projected year-2 tax: $2,266 · $189/mo
• Expected delta: +$1,097/yr (+$91/mo · 93.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% 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: $51,624
• − Mortgage interest: −$11,147
• − Property taxes: −$1,168
• − Insurance: −$995
• − Repairs & maintenance: −$4,130
• − Management: −$4,130
• − Depreciation: −$5,789
• Taxable income: $24,264
• Est. tax owed @ 24.0%: −$5,823
• After-tax cash flow: $20,273/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): 32,381
• Household income: $35,383
• Rent vs Own: 64.6% rent · 35.4% own
• Severe rent burden: 2756.0

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 0.66)
• Race & ethnicity: Hispanic / Latino 40% Black 40% White 14% Two or more races 12% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 32% Dominican 3%
• Common ancestry: Romanian 1% Lithuanian 1% Serbian 1%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 65% English-only · Spanish 30% Other Asian/Pacific 2% French/Haitian/Cajun 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: ▼ -10.66%
• Current HPI: 254.1805
• Rent YoY: ▲ 8.88%
• 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

+237.3% since first listed

21 events — show timeline

• 2026-04-29 Pending — WNYREIS
• 2026-04-24 Contingent — WNYREIS
• 2026-03-25 Listed $199,000 WNYREIS
• 2024-07-31 Listing Removed — UNYREIS
• 2024-06-14 Listed $120,000 UNYREIS
• 2023-12-27 Pending — UNYREIS
• 2023-05-19 Pending — UNYREIS
• 2023-05-18 Listing Removed — UNYREIS
• 2023-04-20 Listed $120,000 UNYREIS
• 2022-04-07 Price Changed $750 RENT.
• 2021-06-28 Sold (MLS) $85,000 UNYREIS
• 2021-03-21 Pending — UNYREIS
• 2021-02-14 Listed $85,000 UNYREIS
• 2016-06-15 Sold (MLS) $95,000 UNYREIS
• 2015-09-15 Pending — UNYREIS
• 2015-09-14 Listed $99,900 UNYREIS
• 2015-08-07 Sold (MLS) $19,900 UNYREIS
• 2015-06-26 Pending — UNYREIS
• 2015-06-24 Listed $19,900 UNYREIS
• 2007-11-14 Sold (Public Records) $73,000 Public Records
• 1996-01-19 Sold (Public Records) $59,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $1,168 · +0.0% YoY. Source: county tax records.