548 Lyell Ave · Rochester, NY 14606

$62,500

5 bd · 2.0 ba · 2,328 sqft · MultiFamily public records · 13 Days on market

Built 1900 5,475 sqft lot $27/sqft · 64% below area

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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
• Rent growth +4.1/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

This property is being offered strictly "as-is" The Seller will not provide a Certificate of Occupancy, nor will they perform any repairs or offer credits towards repairs or closing costs. This is an opportunity for an investor or savvy buyer looking for a project property. Buyers are encouraged to perform their own due diligence, but note that the seller is firm on the "as-is" conditions. Cash or renovation financing is likely required.

Key facts

• 5,475 sq ft lot
• Parking
• Built 1900

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $62k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $62k).
• Cap rate 27.0% 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• This rent runs 41% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $432 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 + 6.3% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 16y 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 $19k; list at $62k implies a 222% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $62,500

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 3.02% ✓
• Cap rate: 26.99%
• Cash-on-cash: 73.91%
• DSCR: 4.29
• GRM: 2.8

CMA / ARV

• ARV (median comp): $172,497
• List price: $62,500
• Delta: -63.77%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
33 Warner St	0.04mi	5/2.0	2,338 (+0%)	15mo	$92,000	$39	85
554 Campbell St	0.51mi	5/2.0	2,256 (-3%)	1mo	$118,000	$52	70
808 Smith St	0.52mi	5/2.0	2,320 (-0%)	7mo	$49,000	$21	69
515 Lyell Ave	0.11mi	4/2.0 (-1)	2,094 (-10%)	5mo	$33,000	$16	69
12 Villa St	0.48mi	5/2.0	2,362 (+2%)	12mo	$106,000	$45	65
109 Avery St	0.31mi	4/3.0 (-1)	2,244 (-4%)	11mo	$121,000	$54	62
96 Otis St	0.35mi	6/2.0 (+1)	2,092 (-10%)	11mo	$125,000	$60	53
547 Maple St	0.73mi	6/2.0 (+1)	2,248 (-3%)	4mo	$36,667	$16	52
98 Lime St	0.37mi	4/2.0 (-1)	1,978 (-15%)	10mo	$125,000	$63	44
475 Sherman St	0.64mi	4/2.0 (-1)	2,016 (-13%)	5mo	$150,000	$74	38
104 Parkway	0.66mi	6/2.0 (+1)	2,070 (-11%)	10mo	$170,000	$82	38
227 Saratoga Ave	0.67mi	6/3.0 (+1)	2,000 (-14%)	2mo	$85,000	$43	34

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: 77.4%
• Equity multiple: 4.71×
• Total profit: $64,965
• Equity at exit: $9,319

10-year hold

• IRR: 81.8%
• Equity multiple: 10.90×
• Total profit: $173,252
• Equity at exit: $5,404

Cash invested: $17,500 (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: 2.8×

Monthly cashflow live

• Estimated rent: $1,886 medium
• Mortgage (P&I): −$328
• Tax from tax record: −$58 /mo · $698/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $1,078

Break-even live

Break-even rent $521

Max offer price $62,500

Occupancy floor 38%

Sensitivity live

Price	-10% $1,113	-5% $1,096	+0% $1,078	+5% $1,060	+10% $1,042
Rent	-10% $929	-5% $1,003	+0% $1,078	+5% $1,152	+10% $1,227
Rate	-1.0pp $1,109	-0.5pp $1,094	base $1,078	+0.5pp $1,062	+1.0pp $1,045

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: $15,625
• Closing costs: $1,875
• Reserves months: —
• Total cash needed: —

Rent comps 3 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	0.53mi
48 Thorndale Ter Rochester, NY	4.0	1.5	1700	$1,400	$0.82	15d	1	1.11mi
161 Fillmore St Rochester, NY	4.0	2.0	1612	$1,400	$0.87	15d	1	1.30mi

Listing history 7 events

1. 2026-05-06
   status Pending 461-char remark

   Show marketing remark (461 chars)

   This property is being offered strictly "as-is" The Seller will not provide a Certificate of Occupancy, nor will they perform any repairs or offer credits towards repairs or closing costs. This is an opportunity for an investor or savvy buyer looking for a project property. Buyers are encouraged to perform their own due diligence, but note that the seller is firm on the "as-is" conditions. Cash or renovation financing is likely required.

2. 2026-04-22
   listed $62,500 Active 461-char remark

   Show marketing remark (461 chars)

   This property is being offered strictly "as-is" The Seller will not provide a Certificate of Occupancy, nor will they perform any repairs or offer credits towards repairs or closing costs. This is an opportunity for an investor or savvy buyer looking for a project property. Buyers are encouraged to perform their own due diligence, but note that the seller is firm on the "as-is" conditions. Cash or renovation financing is likely required.

3. 2024-12-07
   historical $800
4. 2024-11-27
   listed $800
5. 2010-08-05
   soldstatus $19,400
6. 2010-07-26
   soldstatus $19,400 86-char remark

   Show marketing remark (86 chars)

   Great starter rental , prime location, long term tenant, large lot, seperate utilities

7. 2010-04-14
   listed $19,900 86-char remark

   Show marketing remark (86 chars)

   Great starter rental , prime location, long term tenant, large lot, seperate utilities

ⓘ 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: $698 · $58/mo
• Projected year-2 tax: $877 · $73/mo
• Expected delta: +$179/yr (+$15/mo · 25.7%)

ⓘ 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 ≥96°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: $22,630
• − Mortgage interest: −$3,501
• − Property taxes: −$698
• − Insurance: −$312
• − Repairs & maintenance: −$1,810
• − Management: −$1,810
• − Depreciation: −$1,818
• Taxable income: $12,680
• Est. tax owed @ 24.0%: −$3,043
• After-tax cash flow: $9,891/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

+214.1% since first listed

7 events — show timeline

• 2026-05-06 Pending — UNYREIS
• 2026-04-22 Listed $62,500 UNYREIS
• 2024-12-07 Rental Removed $800 RENTEC
• 2024-11-27 Listed for Rent $800 RENTEC
• 2010-08-05 Sold (Public Records) $19,400 Public Records
• 2010-07-26 Sold (MLS) $19,400 UNYREIS
• 2010-04-14 Listed $19,900 UNYREIS

Property tax history

+0.3%/yr

Latest (2025): $698 · +0.0% YoY. Source: county tax records.