156 Clay Ave · Rochester, NY 14613

$134,900

6 bd · 2.0 ba · 2,896 sqft · Townhouse · 11 Days on market

Built 1920 Fair condition 5,631 sqft lot Est $165k · 18% 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 +28.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +2.2/10.0
• Condition / age +2.2/5.0
• Schools +1.9/10.0

Listing remarks

CASH-FLOWING SIDE-BY-SIDE DUPLEX with a cap rate exceeding 10% as currently operated, plus additional upside potential. Both units are fully occupied, making this a strong addition to any investment portfolio from day one. Each unit offers 3 bedrooms and 1 full bathroom, with spacious layouts contributing to a total of 2,896 square feet. The property is separately metered and features individual basements with laundry hookups and ample storage, along with full attic spaces for even more flexibility. A brand new Certificate of Occupancy will be provided prior to closing, offering added confidence and a smooth transition for the next owner. Located in Rochester’s Maplewood district, the

Key facts

• Side-by-side duplex
• Individual basements
• Separately metered

Tags

• SIDE-BY-SIDE DUPLEX
• FULLY OCCUPIED
• SEPARATELY METERED
• INDIVIDUAL BASEMENTS
• LAUNDRY HOOKUPS
• AMPLE STORAGE

Property features AI

Finance

• Other: Two separate rent units with current rents of $1,109 and $1,089; Leases: one expires Aug 1, 2025; the other expires Jun 30, 2026
• Financial info: Gross income listed as $26,376; Owner pays trash collection and water; Rent includes trash collection and water; Operating expenses include insurance and professional management

Exterior

• Parking: Paved parking with two or more spaces
• Utilities: Public water connected; Sewer connected; Circuit breaker electric
• Home design: Two-story multi-family (2 units); Residential 2-unit zoning; Entry level information not specified; Facing direction not specified
• Construction: Vinyl siding; Wood siding; Copper plumbing; Asphalt shingle roof; Block foundation; Existing (not new) construction
• Exterior features: Balcony; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas water heater
• Bedrooms: Two 3-bedroom units
• Flooring: Carpet; Hardwood; Laminate; Luxury vinyl; Varies
• Bathrooms: Two full bathrooms (one per unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Natural woodwork; Full basement
• Laundry & utility: Separate gas meters (2); Separate electric meters (2)

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath townhouse listed at $135k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $427 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).

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: 71 active listings in the ZIP; 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 $933 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 $38k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $134,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1920 — 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 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: 1.28% ✓
• Cap rate: 10.09%
• Cash-on-cash: 13.56%
• DSCR: 1.60
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $165,072
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
115-117 Electric Ave #115	0.18mi	6/2.0	2,776 (-4%)	13mo	$147,550	$53	74
192-194 Magee Ave	0.13mi	5/3.0 (-1)	2,582 (-11%)	6mo	$170,000	$66	62
1538 St Paul St	0.71mi	6/2.0	2,912 (+1%)	10mo	$169,900	$58	58
229 Pullman Ave	0.29mi	5/2.0 (-1)	2,755 (-5%)	20mo	$150,000	$54	57
18-20 Bryan St	0.53mi	6/2.0	2,688 (-7%)	12mo	$115,000	$43	53
62 Raines Park	0.53mi	6/2.0	3,236 (+12%)	8mo	$183,000	$57	49
591-593 Magee Ave	0.66mi	6/2.0	2,463 (-15%)	2mo	$148,300	$60	43
96-98 Gorsline St	0.38mi	5/2.0 (-1)	2,490 (-14%)	13mo	$225,000	$90	43
366 Augustine St	0.53mi	5/2.0 (-1)	2,521 (-13%)	8mo	$175,000	$69	43
901 Lake Ave	0.70mi	5/3.0 (-1)	2,624 (-9%)	15mo	$108,000	$41	30
222-224 Selye Ter	0.72mi	5/2.0 (-1)	2,496 (-14%)	13mo	$127,500	$51	28

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: 3.7%
• Equity multiple: 1.14×
• Total profit: $5,353
• Equity at exit: $20,114

10-year hold

• IRR: 13.2%
• Equity multiple: 2.05×
• Total profit: $39,775
• Equity at exit: $11,664

Cash invested: $37,772 (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 14613

• Home prices YoY: -2.0%
• Active inventory: 71
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,720 medium
• Mortgage (P&I): −$707
• Tax est. 1.5%: −$169 /mo · $2,024/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $427

Break-even live

Break-even rent $1,180

Max offer price $134,900

Occupancy floor 70%

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-01
   status Pending
2. 2026-04-20
   listed $134,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $20,645
• − Mortgage interest: −$7,556
• − Property taxes: −$2,024
• − Insurance: −$674
• − Repairs & maintenance: −$1,652
• − Management: −$1,652
• − Depreciation: −$3,924
• Taxable income: $3,163
• Est. tax owed @ 24.0%: −$759
• After-tax cash flow: $4,363/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab

This townhouse requires extensive repairs and maintenance, including a new roof, siding, landscaping, and fencing. Significant updates would be needed to improve its condition and increase its resale and rental value.

Repairs flagged

• Major roof — Signs of wear and potential leaks.
• Major siding — Visible signs of wear and discoloration.
• Major landscaping — Sparse and in need of maintenance.
• Major fencing — In poor condition and may need repair or replacement.
• Major interior — Likely in a similar state of disrepair as the exterior based on the exterior condition.

Value-add opportunities

• Both roof replacement — A new roof would significantly improve the home's appearance and functionality.
• Both siding repair/replacement — New siding would enhance the home's curb appeal and increase its value.
• Both landscaping and fencing repair — A well-maintained exterior would attract more potential buyers and renters.
• Both interior repairs and updates — A fresh interior would make the home more attractive and increase its value for both resale and rental purposes.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of wear and potential leaks.	Major	$15,000–50,000
siding · Visible signs of wear and discoloration.	Major	$15,000–50,000
landscaping · Sparse and in need of maintenance.	Major	$15,000–50,000
fencing · In poor condition and may need repair or replacement.	Major	$15,000–50,000
interior · Likely in a similar state of disrepair as the exterior based on the exterior condition.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both roof replacement — A new roof would significantly improve the home's appearance and functionality. ↑
• Both siding repair/replacement — New siding would enhance the home's curb appeal and increase its value. ↑
• Both landscaping and fencing repair — A well-maintained exterior would attract more potential buyers and renters. ↑
• Both interior repairs and updates — A fresh interior would make the home more attractive and increase its value for both resale and rental purposes. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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
• City population: 432,803
• Population (ZIP): 14,740

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Black 45% White 22% Hispanic / Latino 20% Two or more races 10% Asian 8% Pacific Islander 1%
• Hispanic origin (detail): Puerto Rican 16% Dominican 3%
• Common ancestry: British 2% Serbian 1% Romanian 1%
• Foreign-born: 13% · Canada, India, Philippines
• Languages at home: 79% English-only · Spanish 12% Other Asian/Pacific 5% Other Indo-European 3%

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: ▼ -5.56%
• Current HPI: 274.2485
• Rent YoY: —
• Metro: —
• 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

• 2026-05-01 Pending — UNYREIS
• 2026-04-20 Listed $134,900 UNYREIS