373 Verona St · Rochester, NY 14608

$50,000

5 bd · 2.0 ba · 2,302 sqft · MultiFamily public records · 60 Days on market

Built 1913 3,300 sqft lot $22/sqft · 68% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +6.8/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

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

Investment property located on quiet one way street, walk to Paetec Park and Frontier Field, 1 two bedroom and 1 three bedroom apartment, complete tear off rear 1/2 of roof, separate utilities, gross annual rents of $10,200, subject to bank approved short sale.

Key facts

• 3,300 sq ft lot
• Built 1913
• Listed 60 days

Property features AI

Finance

• Other: Two-unit property with separate gas and electric meters for each unit
• Financial info: Owner pays water; Water included in rent; Operating expenses include water/sewer

Exterior

• Parking: On-street parking
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Resale property; Wood siding construction
• Construction: Wood siding; Existing (previously built)
• Exterior features: Enclosed porch; Porch; Rectangular residential lot; City street frontage

Interior

• Kitchen: Eat-in kitchens in both units
• Bedrooms: One unit with 2 bedrooms; One unit with 3 bedrooms
• Flooring: Hardwood; Varies
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood and varied flooring; Enclosed porch; Porch
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $50k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 37.7% 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: 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.
• Zoned schools: School 5-John Williams (math 2% / reading 8%, grade F, #2,098 of 2,108 statewide, top 100%, 596 students, 93% FRL); East Lower School (math 2% / reading 22%, grade F, #715 of 729 statewide, top 98%, 304 students, 86% FRL); Edison Career And Technology High School (math 44% / reading 50%, grade D-, #1,007 of 1,100 statewide, top 93%, 1,233 students, 91% FRL).
• Market conditions: Rents rising fast (+6.6%/yr); 51 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $2,090/mo this rent would consume 62% of the median local household income ($41k/yr) (locally 1300% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $2k of equity ($346 loan paydown + $2k appreciation (3.7% local appreciation)).
• Monroe County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.7% appreciation + 6.6% rent growth), your $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 17y ago; this cycle's ask has dropped $12k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $15k; list at $50k implies a 233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 4.18% ✓
• Cap rate: 37.71%
• Cash-on-cash: 112.21%
• DSCR: 5.99
• GRM: 2.0

CMA / ARV

• ARV (median comp): $158,465
• List price: $50,000
• Delta: -68.45%
• 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
808 Smith St	0.54mi	5/2.0	2,320 (+1%)	7mo	$49,000	$21	68
929 Plymouth Ave N	0.44mi	6/2.0 (+1)	2,380 (+3%)	4mo	$125,000	$53	66
52 Madison St	0.56mi	4/2.0 (-1)	2,311 (+0%)	11mo	$140,000	$61	59
104 Parkway	0.39mi	6/2.0 (+1)	2,070 (-10%)	10mo	$170,000	$82	52
28 Walnut St	0.43mi	6/3.0 (+1)	2,240 (-3%)	20mo	$70,000	$31	50
101 Jefferson Ave	0.71mi	5/2.0	2,258 (-2%)	18mo	$85,000	$38	48
2 Costar St	0.53mi	4/2.0 (-1)	2,122 (-8%)	12mo	$125,000	$59	47
85 Cameron St	0.73mi	5/2.0	2,276 (-1%)	20mo	$136,000	$60	47
227 Saratoga Ave	0.54mi	6/3.0 (+1)	2,000 (-13%)	2mo	$85,000	$43	42
641 Jay St	0.65mi	6/2.0 (+1)	2,190 (-5%)	19mo	$164,000	$75	41
74 Bloss St	0.56mi	6/2.0 (+1)	2,080 (-10%)	16mo	$150,000	$72	39
98 Lime St	0.64mi	4/2.0 (-1)	1,978 (-14%)	10mo	$125,000	$63	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.69% appreciation · 6.61% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.08×
• Total profit: $99,152
• Equity at exit: $24,453

10-year hold

• IRR: —
• Equity multiple: 18.68×
• Total profit: $247,552
• Equity at exit: $39,294

Cash invested: $14,000 (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 14608

• Home prices YoY: 1.3%
• Rents YoY: 6.6%
• Active inventory: 51
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $2,090 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$59 /mo · $704/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $1,309

Break-even live

Break-even rent $433

Max offer price $50,000

Occupancy floor 32%

Sensitivity live

Price	-10% $1,337	-5% $1,323	+0% $1,309	+5% $1,295	+10% $1,281
Rent	-10% $1,144	-5% $1,227	+0% $1,309	+5% $1,392	+10% $1,474
Rate	-1.0pp $1,334	-0.5pp $1,322	base $1,309	+0.5pp $1,296	+1.0pp $1,283

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
649 Jay St Rochester, NY	5.0	2.0	2144	$2,000	$0.93	4d	1	0.65mi
48 Thorndale Ter Rochester, NY	4.0	1.5	1700	$1,400	$0.82	16d	1	1.41mi

Listing history 21 events

1. 2026-06-21
   days on market $50,000 Active 60 DOM
2. 2026-06-18
   days on market $50,000 Active 57 DOM
3. 2026-06-17
   days on market $50,000 Active 56 DOM
4. 2026-06-16
   days on market $50,000 Active 55 DOM
5. 2026-06-15
   days on market $50,000 Active 54 DOM
6. 2026-06-13
   days on market $50,000 Active 52 DOM
7. 2026-06-13
   pricedays on market $50,000 Active 51 DOM
8. 2026-06-10
   days on market $62,200 Active 49 DOM
9. 2026-06-09
   days on market $62,200 Active 48 DOM
10. 2026-06-09
    days on market $62,200 Active 47 DOM
11. 2026-06-07
    days on market $62,200 Active 46 DOM
12. 2026-06-05
    days on market $62,200 Active 43 DOM
13. 2026-06-03
    days on market $62,200 Active 42 DOM
14. 2026-06-03
    days on market $62,200 Active 41 DOM
15. 2026-06-01
    days on market $62,200 Active 40 DOM
16. 2026-05-31
    days on market $62,200 Active 39 DOM
17. 2026-04-22
    listed $62,200 Active 461-char remark
18. 2010-09-27
    soldstatus $15,000
19. 2010-09-19
    soldstatus $15,000 261-char remark

    Show marketing remark (261 chars)

    Investment property located on quiet one way street, walk to Paetec Park and Frontier Field, 1 two bedroom and 1 three bedroom apartment, complete tear off rear 1/2 of roof, separate utilities, gross annual rents of $10,200, subject to bank approved short sale.

20. 2009-11-23
    listed $19,900 261-char remark

    Show marketing remark (261 chars)

    Investment property located on quiet one way street, walk to Paetec Park and Frontier Field, 1 two bedroom and 1 three bedroom apartment, complete tear off rear 1/2 of roof, separate utilities, gross annual rents of $10,200, subject to bank approved short sale.

21. 2005-07-18
    soldstatus $30,000

ⓘ 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: $704 · $59/mo
• Projected year-2 tax: $775 · $65/mo
• Expected delta: +$70/yr (+$6/mo · 10.0%)

ⓘ 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 (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: $25,077
• − Mortgage interest: −$2,801
• − Property taxes: −$704
• − Insurance: −$250
• − Repairs & maintenance: −$2,006
• − Management: −$2,006
• − Depreciation: −$1,455
• Taxable income: $15,855
• Est. tax owed @ 24.0%: −$3,805
• After-tax cash flow: $11,905/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): 12,792
• Household income: $40,646
• Rent vs Own: 78.0% rent · 22.0% own
• Severe rent burden: 1300.0

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 0.67)
• Race & ethnicity: Black 50% White 25% Two or more races 13% Hispanic / Latino 12% Asian 4%
• Hispanic origin (detail): Puerto Rican 10%
• Common ancestry: Lithuanian 1% Romanian 1% Iranian 1%
• Foreign-born: 8% · Canada, India
• Languages at home: 85% English-only · Spanish 8% Other Indo-European 3% 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: ▲ 3.69%
• Current HPI: 280.2411
• Rent YoY: ▲ 6.61%
• 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

+66.7% since first listed

6 events — show timeline

• 2026-06-11 Price Changed $50,000 UNYREIS
• 2026-04-22 Listed $62,200 UNYREIS
• 2010-09-27 Sold (Public Records) $15,000 Public Records
• 2010-09-19 Sold (MLS) $15,000 UNYREIS
• 2009-11-23 Listed $19,900 UNYREIS
• 2005-07-18 Sold (Public Records) $30,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $704 · +51.9% YoY. Source: county tax records.