5058 W Ridge Rd · Spencerport, NY 14559

$399,900

9 bd · 9.0 ba · 2,779 sqft · MultiFamily public records · 30 Days on market

Built 1920 1.10 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Welcome to 5058 West Ridge Rd! Rarely available highway commercial zoning on busy Ridge Rd. Car wash, car dealership, repair shop, self-storage. Three family home on 1.1 acres currently rented and an old motel with an additional 4 rental units in need of total rehab.

Key facts

• Self-storage
• Repair shop
• Car wash

Tags

• HIGHWAY COMMERCIAL ZONING
• CAR WASH
• CAR DEALERSHIP
• REPAIR SHOP
• SELF-STORAGE
• THREE FAMILY HOME

Property features AI

Finance

• Other: Three total units in the building; Single gas meter and single electric meter for the property
• Financial info: Owner pays electricity, heat, and hot water (rent includes the same); Operating expenses include electric

Exterior

• Parking: Paved
• Utilities: Public water connected; Septic tank sewer; Electric service connected
• Home design: Three-story building; Resale property; Aluminum siding
• Construction: Aluminum siding construction; Existing (previously built)
• Exterior features: Paved parking; Rectangular lot (approximately 1.1 acres, dimensions 151 x 335)

Interior

• Flooring: Carpet; Varies
• Bathrooms: Three full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Walk-out basement access; Carpet and varied flooring throughout
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/3.0-bath units multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $502/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $400k).
• Recommended offer: $394k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 3.2% in Spencerport — 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 (#237 in NY, #3,718 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A, crime B+; Watch: amenities F, commute F.
• Spencerport Central School District (suburban): math 52% / reading 63% proficiency, ranked #248 of 590 in NY (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 73 active listings in the ZIP; solid renter incomes; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $5,780/mo this rent would consume 73% of the median local household income ($95k/yr) (locally 220% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 $112k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($394k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $155k; list at $400k implies a 158% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $393,901 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.45% ✓
• Cap rate: 10.82%
• Cash-on-cash: 16.16%
• DSCR: 1.72
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 7.2%
• Equity multiple: 1.28×
• Total profit: $31,479
• Equity at exit: $59,626

10-year hold

• IRR: 16.5%
• Equity multiple: 2.36×
• Total profit: $152,132
• Equity at exit: $34,576

Cash invested: $111,972 (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 14559

• Home prices YoY: -31.7%
• Active inventory: 73
• Price-to-rent: 17.3×

Monthly cashflow live

• Estimated rent: $5,780 medium
• Mortgage (P&I): −$2,097
• Tax from tax record: −$795 /mo · $9,540/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,214
• Net cashflow: $1,507

Break-even live

Break-even rent $3,872

Max offer price $399,900

Occupancy floor 69%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	3	$5,781
Total (3 units)			$5,780

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $399,900 Active 30 DOM
2. 2026-06-17
   days on market $399,900 Active 29 DOM
3. 2026-06-16
   days on market $399,900 Active 28 DOM
4. 2026-06-15
   days on market $399,900 Active 27 DOM
5. 2026-06-13
   days on market $399,900 Active 25 DOM
6. 2026-06-13
   days on market $399,900 Active 24 DOM
7. 2026-06-10
   days on market $399,900 Active 22 DOM
8. 2026-06-09
   days on market $399,900 Active 21 DOM
9. 2026-06-09
   days on market $399,900 Active 20 DOM
10. 2026-06-07
    days on market $399,900 Active 19 DOM
11. 2026-06-03
    days on market $399,900 Active 15 DOM
12. 2026-06-03
    days on market $399,900 Active 14 DOM
13. 2026-06-01
    days on market $399,900 Active 13 DOM
14. 2026-05-31
    days on market $399,900 Active 12 DOM
15. 2026-05-19
    listed $399,900 Active
16. 2019-10-10
    soldstatus $155,000

ⓘ 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: $9,540 · $795/mo
• Projected year-2 tax: $9,540 · $795/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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 16 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: $69,360
• − Mortgage interest: −$22,401
• − Property taxes: −$9,540
• − Insurance: −$2,000
• − Repairs & maintenance: −$5,549
• − Management: −$5,549
• − Depreciation: −$11,633
• Taxable income: $12,689
• Est. tax owed @ 24.0%: −$3,045
• After-tax cash flow: $15,044/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: Spencerport Central School District
• NCES district ID: 3627780
• Math proficiency: 52% ▼ -15.00%
• Reading proficiency: 63% ▲ 8.00%
• Median HH income: $66,920
• Composite: 50.58/100
• National rank: #1846
• State rank: #248 of 590 in NY

Livability — Spencerport

• Score: 76/100
• State rank: #237
• US rank: #3718

Category grades

Amenities F Commute F Cost of living B+ Crime B+ 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
• City population: 17,200
• Metro: Rochester, NY
• Population (ZIP): 17,200
• Household income: $94,794
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 220.0

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 (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 2% Black 1%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Russian/Polish/Slavic 2% Other Indo-European 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: ▼ -121.06%
• Current HPI: 260.3489
• 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

+158.0% since first listed

2 events — show timeline

• 2026-05-19 Listed $399,900 UNYREIS
• 2019-10-10 Sold (Public Records) $155,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $9,540 · -1.1% YoY. Source: county tax records.