172 Norwich Dr · North Gates, NY 14624

$149,900

3 bd · 2.0 ba · 1,008 sqft · SingleFamily public records · 5 Days on market

Built 1973 4,792 sqft lot $149/sqft · 8% below area Est $162k · 8% under $273/mo HOA · 13% of rent

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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 +27.1/30.0
• ARV discount +10.9/15.0
• DSCR +9.4/10.0
• 1% rule +9.3/10.0
• Schools +4.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 172 Norwich Drive! This condo offers an open-concept living space that enhances a smooth, effortless lifestyle. Large windows flood the room with natural light, creating a warm and inviting atmosphere. The fireplace is a wood burning fireplace perfect for chilly evenings adding warmth and charm. This home is handicap accessible featuring wide doorways for easy maneuverability throughout and a redesigned kitchen with that accessibility in mind. It features a tile backsplash, oak cabinetry, & a slider door to let in an abundance of light in the kitchen & leads to the back deck/yard space. Nestled among mature trees, this spacious 3-bedroom, 2-bathroom condo provides a quiet retreat. This unit has 3 deeded parking spaces. Two under the car port and 1 handicap accessible one. Whether you're looking for a forever home with accessible features or a quiet space surrounded by nature, this condo delivers comfort, functionality, and charm in one package. Bring your visions and ideas to make this home your own! Delayed negotiations 5/19/25 at 12:00pm. This home is "as is".

Key facts

• Oak cabinetry
• Slider door
• Back deck

Tags

• OPEN-CONCEPT LIVING SPACE
• REDESIGNED KITCHEN
• TILE BACKSPLASH
• OAK CABINETRY
• SLIDER DOOR
• BACK DECK

Property features AI

Finance

• Financial info: Pets allowed: cats and dogs
• HOA & community: Windsor Village community association; Association fee of $273 per month

Exterior

• Parking: Assigned covered parking; Carport with two spaces
• Utilities: Public water (connected); Sewer connected
• Home design: Single-story residence; Resale property; Existing construction
• Construction: Vinyl siding; Spray foam insulation; Insulated attic/crawl hatchway(s); Slab foundation
• Exterior features: Near public transit; Rectangular lot (approx. 24 x 200)

Interior

• Kitchen: Built-in range; Built-in oven; Electric cooktop; Dishwasher; Refrigerator
• Bedrooms: 3 main-level bedrooms
• Flooring: Ceramic tile; Luxury vinyl; Varied flooring
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Forced-air gas heating; Central air conditioning
• Interior features: Eat-in kitchen; Pull-down attic stairs; Main level primary suite; Laundry room
• Laundry & utility: Main-level laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $426 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 9.7% vs local median 4.8% in North Gates — 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 75/100 on livability (#245 in NY, #3,859 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: crime D, schools F, amenities F.
• Churchville-Chili Central School District (rural): math 53% / reading 57% proficiency, ranked #291 of 590 in NY (top 49%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 127 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $1k 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 $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $130k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $149,900

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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 D 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: 1.43% ✓
• Cap rate: 9.71%
• Cash-on-cash: 12.19%
• DSCR: 1.54
• GRM: 5.8

CMA / ARV

• ARV (median comp): $162,106
• List price: $149,900
• Delta: -7.53%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 1.9%
• Equity multiple: 1.07×
• Total profit: $3,036
• Equity at exit: $22,351

10-year hold

• IRR: 11.6%
• Equity multiple: 1.91×
• Total profit: $38,312
• Equity at exit: $12,961

Cash invested: $41,972 (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: $2,142 high
• Mortgage (P&I): −$786
• Tax from tax record: −$145 /mo · $1,735/yr
• Insurance: −$62
• HOA: −$273
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $426

Break-even live

Break-even rent $1,603

Max offer price $149,900

Occupancy floor 75%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2859 Manitou Rd Rochester, NY	1.0–3.0	1.0–1.5	937	$1,915	$2.04	3d	12	0.06mi
111 Whittier Rd Rochester, NY	1.0–3.0	1.0–2.5	1112	$2,500	$2.25	3d	23	0.23mi
9 Red Plank Way Rochester, NY	2.0	2.0	1210	$2,300	$1.90	3d	1	0.53mi
350 Westview Commons Blvd Rochester, NY	1.0–2.0	1.0–2.0	1087	$1,860	$1.71	3d	13	0.55mi
25 Silverlight Way Unit 50 Rochester, NY	2.0	2.0	1210	$2,350	$1.94	14d	1	0.75mi
50 Silverlight Way Rochester, NY	2.0	2.0	1210	$2,350	$1.94	14d	1	0.80mi
173 Bending Creek Rd Gates, NY	1.0–2.0	1.0	860	$1,595	$1.85	3d	7	1.11mi

HOA detail

• Monthly dues: $273 · $3,276/yr

Listing history 7 events

1. 2026-05-12
   status Pending 1011-char remark
2. 2026-05-11
   historical Active Under Contract 1011-char remark
3. 2026-05-07
   listed $149,900 Active 1011-char remark
4. 2025-08-13
   soldstatus $130,000
5. 2025-08-08
   soldstatus $130,000 Closed 1110-char remark

   Show marketing remark (1110 chars)

   Welcome to 172 Norwich Drive! This condo offers an open-concept living space that enhances a smooth, effortless lifestyle. Large windows flood the room with natural light, creating a warm and inviting atmosphere. The fireplace is a wood burning fireplace perfect for chilly evenings adding warmth and charm. This home is handicap accessible featuring wide doorways for easy maneuverability throughout and a redesigned kitchen with that accessibility in mind. It features a tile backsplash, oak cabinetry, & a slider door to let in an abundance of light in the kitchen & leads to the back deck/yard space. Nestled among mature trees, this spacious 3-bedroom, 2-bathroom condo provides a quiet retreat. This unit has 3 deeded parking spaces. Two under the car port and 1 handicap accessible one. Whether you're looking for a forever home with accessible features or a quiet space surrounded by nature, this condo delivers comfort, functionality, and charm in one package. Bring your visions and ideas to make this home your own! Delayed negotiations 5/19/25 at 12:00pm. This home is "as is".

6. 2025-05-20
   status Pending 1110-char remark

   Show marketing remark (1110 chars)

   Welcome to 172 Norwich Drive! This condo offers an open-concept living space that enhances a smooth, effortless lifestyle. Large windows flood the room with natural light, creating a warm and inviting atmosphere. The fireplace is a wood burning fireplace perfect for chilly evenings adding warmth and charm. This home is handicap accessible featuring wide doorways for easy maneuverability throughout and a redesigned kitchen with that accessibility in mind. It features a tile backsplash, oak cabinetry, & a slider door to let in an abundance of light in the kitchen & leads to the back deck/yard space. Nestled among mature trees, this spacious 3-bedroom, 2-bathroom condo provides a quiet retreat. This unit has 3 deeded parking spaces. Two under the car port and 1 handicap accessible one. Whether you're looking for a forever home with accessible features or a quiet space surrounded by nature, this condo delivers comfort, functionality, and charm in one package. Bring your visions and ideas to make this home your own! Delayed negotiations 5/19/25 at 12:00pm. This home is "as is".

7. 2025-05-14
   listed $115,900 Active 1110-char remark

   Show marketing remark (1110 chars)

   Welcome to 172 Norwich Drive! This condo offers an open-concept living space that enhances a smooth, effortless lifestyle. Large windows flood the room with natural light, creating a warm and inviting atmosphere. The fireplace is a wood burning fireplace perfect for chilly evenings adding warmth and charm. This home is handicap accessible featuring wide doorways for easy maneuverability throughout and a redesigned kitchen with that accessibility in mind. It features a tile backsplash, oak cabinetry, & a slider door to let in an abundance of light in the kitchen & leads to the back deck/yard space. Nestled among mature trees, this spacious 3-bedroom, 2-bathroom condo provides a quiet retreat. This unit has 3 deeded parking spaces. Two under the car port and 1 handicap accessible one. Whether you're looking for a forever home with accessible features or a quiet space surrounded by nature, this condo delivers comfort, functionality, and charm in one package. Bring your visions and ideas to make this home your own! Delayed negotiations 5/19/25 at 12:00pm. This home is "as is".

ⓘ 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: $1,735 · $145/mo
• Projected year-2 tax: $2,134 · $178/mo
• Expected delta: +$399/yr (+$33/mo · 23.0%)

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

Taxation est. · year 1

• Rental income: $25,708
• − Mortgage interest: −$8,397
• − Property taxes: −$1,735
• − Insurance: −$750
• − Repairs & maintenance: −$2,057
• − Management: −$2,057
• − HOA: −$3,276
• − Depreciation: −$4,361
• Taxable income: $3,077
• Est. tax owed @ 24.0%: −$738
• After-tax cash flow: $4,377/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: Churchville-Chili Central School District
• NCES district ID: 3607530
• Math proficiency: 53% ▼ -13.00%
• Reading proficiency: 57% ▲ 3.00%
• Median HH income: $61,997
• Composite: 48.07/100
• National rank: #2191
• State rank: #291 of 590 in NY

Livability — North Gates

• Score: 75/100
• State rank: #245
• US rank: #3859

Category grades

Amenities F Commute C Cost of living A- Crime D Employment B+ Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Monroe County · 674,131 people
• 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

+29.3% since first listed

7 events — show timeline

• 2026-05-12 Pending — UNYREIS
• 2026-05-11 Contingent — UNYREIS
• 2026-05-07 Listed $149,900 UNYREIS
• 2025-08-13 Sold (Public Records) $130,000 Public Records
• 2025-08-08 Sold (MLS) $130,000 UNYREIS
• 2025-05-20 Pending — UNYREIS
• 2025-05-14 Listed $115,900 UNYREIS

Property tax history

+5.8%/yr

Latest (2025): $1,735 · +187.8% YoY. Source: county tax records.