203 Elham Rd · Rochester, NY 14624

$139,900

3 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 8 Days on market

Built 1930 4,356 sqft lot Est $221k · 37% under

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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 +29.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Livability +3.8/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 203 Elham Rd! This is a great opportunity for buyers ready to build equity with a little TLC. Priced below neighborhood value, this home offers several major updates within the past 10 years, including a tear-off roof, furnace, and hot water heater. This 3-bedroom, 1-bathroom, two-story home is located in the Gates Chili School District and features a partially fenced yard with an above-ground pool. Situated on a neighborhood street, it’s conveniently close to shopping, public transportation, highways, and other local amenities. Perfect for investors or owner-occupants looking to put in some sweat equity and make it their own. Delayed negotiations until Tuesday 4/14 at 12 P

Key facts

• Hot water heater
• Tear-off roof
• Above-ground pool

Tags

• TEAR-OFF ROOF
• FURNACE
• HOT WATER HEATER
• PARTIALLY FENCED YARD
• ABOVE-GROUND POOL
• GATES CHILI SCHOOL DISTRICT

Property features AI

Exterior

• Parking: No garage
• Utilities: Electricity connected (fuse panel); Public water connected; Sewer connected; High-speed internet available; Cable available
• Home design: Single-story home; Resale property; Rectangular lot near public transit; City street frontage; Lot dimensions approximately 42 x 111
• Construction: Shake and wood siding; Copper plumbing; Asphalt architectural shingle roof; Block foundation; Existing (year built details)
• Exterior features: Blacktop driveway; Deck; Enclosed porch; Porch; Partial fencing; Above-ground pool; Shed(s)/storage

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Microwave; Refrigerator; Disposal
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Hardwood; Laminate; Tile; Varies
• Bathrooms: 1 full bathroom (on the main level)
• Heating & cooling: Gas heating; Forced air heating
• Interior features: Ceiling fan(s); Separate/formal dining room; Eat-in kitchen; Sliding glass door(s); Window treatments; Accessible bedroom; Low-threshold shower; Accessible doors; Drapes; Storm windows; Wood window frames
• Laundry & utility: Washer; Dryer; Laundry located in the basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $497 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).

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.
• Gates-Chili Central School District (suburban): math 41% / reading 42% proficiency, ranked #491 of 590 in NY (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 127 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k 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 + 3.0% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,900

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.44% ✓
• Cap rate: 10.55%
• Cash-on-cash: 15.22%
• DSCR: 1.68
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $221,184
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 Elham Rd	0.00mi	3/1.0	1,152 (0%)	0mo	$180,000	$156	100
4 Ranch Village Ln	0.10mi	3/1.0	1,174 (+2%)	7mo	$242,500	$207	86
510 Hinchey Rd	0.31mi	3/2.0	1,167 (+1%)	5mo	$215,000	$184	75
536 Hinchey Rd	0.32mi	3/1.0	1,108 (-4%)	6mo	$210,000	$190	73
33 Wedgewood Dr	0.39mi	2/2.0 (-1)	1,157 (+0%)	3mo	$270,000	$233	69
750 Hinchey Rd	0.49mi	2/1.0 (-1)	1,152 (0%)	5mo	$230,000	$200	68
8 Merrydale Dr	0.66mi	3/1.0	1,171 (+2%)	2mo	$223,500	$191	65
79 Mareeta Rd	0.54mi	3/1.5	1,189 (+3%)	6mo	$245,000	$206	63
148 Burben Way	0.55mi	3/1.0	1,220 (+6%)	8mo	$212,000	$174	58
19 Ingram Dr	0.60mi	3/1.5	1,290 (+12%)	4mo	$220,000	$171	47
18 Mareeta Rd	0.61mi	3/1.5	992 (-14%)	3mo	$243,500	$245	44
26 Merrydale Dr	0.57mi	4/2.0 (+1)	1,305 (+13%)	1mo	$250,000	$192	41

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.0%
• Equity multiple: 1.23×
• Total profit: $9,084
• Equity at exit: $20,860

10-year hold

• IRR: 15.4%
• Equity multiple: 2.25×
• Total profit: $49,099
• Equity at exit: $12,096

Cash invested: $39,172 (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 14624

• Active inventory: 127
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,013 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$301 /mo · $3,616/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $497

Break-even live

Break-even rent $1,384

Max offer price $139,900

Occupancy floor 70%

Sensitivity live

Price	-10% $576	-5% $536	+0% $497	+5% $457	+10% $418
Rent	-10% $338	-5% $417	+0% $497	+5% $576	+10% $656
Rate	-1.0pp $567	-0.5pp $532	base $497	+0.5pp $461	+1.0pp $424

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
254 Fisher Rd Rochester, NY	2.0	1.0	1100	$2,250	$2.05	44d	1	0.93mi
266 Fisher Rd Rochester, NY	2.0	2.0	1100	$1,800	$1.64	44d	1	0.98mi
32 Stanton St Rochester, NY	3.0	1.0	1390	$1,500	$1.08	11d	1	1.42mi

Listing history 2 events

1. 2026-04-15
   status Pending
2. 2026-04-07
   listed $139,900 Active

ⓘ 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: $3,616 · $301/mo
• Projected year-2 tax: $3,616 · $301/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 (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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,154
• − Mortgage interest: −$7,837
• − Property taxes: −$3,616
• − Insurance: −$700
• − Repairs & maintenance: −$1,932
• − Management: −$1,932
• − Depreciation: −$4,070
• Taxable income: $4,068
• Est. tax owed @ 24.0%: −$976
• After-tax cash flow: $4,986/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: Gates-Chili Central School District
• NCES district ID: 3611880
• Math proficiency: 41% ▼ -12.00%
• Reading proficiency: 42% ▼ -6.00%
• Median HH income: $55,045
• Composite: 36.23/100
• National rank: #4719
• State rank: #491 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

• County: Monroe County · 674,131 people
• City population: 432,803
• Metro: Rochester, NY
• Population (ZIP): 38,626
• Household income: $87,989
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 584.0

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: Predominantly White (78%)
• Race & ethnicity: White 78% Black 9% Hispanic / Latino 6% Two or more races 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 6% Iranian 2% Lithuanian 2%
• Foreign-born: 7% · Canada, China, India
• Languages at home: 90% English-only · Spanish 3% Other Indo-European 3% Russian/Polish/Slavic 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: ▼ -151.26%
• Current HPI: 267.356
• Rent YoY: —
• 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

2 events — show timeline

• 2026-04-15 Pending — UNYREIS
• 2026-04-07 Listed $139,900 UNYREIS

Property tax history

+7.7%/yr

Latest (2025): $3,616 · +162.8% YoY. Source: county tax records.