110 Ridgeway Ave · Rochester, NY 14615

$294,900

8 bd · 4.0 ba · 6,063 sqft · MultiFamily public records · 13 Days on market

Built 1920 5,200 sqft lot Est $212k · 39% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 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 MLS

Beautiful turnkey 4 Family in the Maplewood Neighborhood! This could be a great property to kick start your investment career or an addition to an existing portfolio! Brick and cedar shake exterior. NEWER roof! All units are 2 bedroom and have identical lay outs. CofO will be supplied. All seperate utilities. Gross annual income of $27,300!!!

Key facts

• 5,200 sq ft lot
• Built 1920
• Listed 13 days

Property features AI

Finance

• Other: 4 total residential units; One unit currently rented for $1,100 on a month-to-month lease
• Financial info: Owner pays water and trash collection; Rent includes water and trash collection; Operating expenses include water/sewer

Exterior

• Parking: No driveway
• Utilities: Public water connected; Sewer connected
• Home design: 4-story building; Resale property; Construction includes brick, cedar, and shake siding
• Construction: Brick, cedar, and shake siding construction
• Exterior features: Rectangular residential lot; City street frontage; Porch

Interior

• Kitchen: Eat-in kitchens included in units
• Bedrooms: Four 2-bedroom units
• Flooring: Carpet; Hardwood; Laminate; Varies
• Bathrooms: Four full bathrooms (one per unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Eat-in kitchen; Formal dining room; Living room; Porch
• Laundry & utility: Gas water heater; Separate gas and electric meters for each unit (4 gas meters, 4 electric meters)

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $295k.

Deal economics

• At list price, monthly cash flow is $3k ($37k/yr) — positive. Per door: $771/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $295k).
• Cap rate 18.8% 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: 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: 75 active listings in the ZIP; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $6,250/mo this rent would consume 146% of the median local household income ($51k/yr) (locally 1245% 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 $2k of loan paydown is wiped out by about $9k 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 $83k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 14y ago 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.

Risks & watch-outs

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

Recommended offer $294,900

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 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.12% ✓
• Cap rate: 18.84%
• Cash-on-cash: 44.82%
• DSCR: 2.99
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $212,205
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
158 Birr St #156	0.61mi	8/4.0	5,952 (-2%)	5mo	$251,000	$42	65
133 Augustine St	0.57mi	8/4.0	6,431 (+6%)	12mo	$210,000	$33	53
1030 Dewey Ave	0.72mi	8/4.0	6,105 (+1%)	17mo	$216,000	$35	51
182 Birr St	0.62mi	8/4.0	6,524 (+8%)	12mo	$210,000	$32	48

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: 41.9%
• Equity multiple: 2.80×
• Total profit: $148,612
• Equity at exit: $43,971

10-year hold

• IRR: 48.0%
• Equity multiple: 5.63×
• Total profit: $382,250
• Equity at exit: $25,498

Cash invested: $82,572 (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 14615

• Home prices YoY: -11.7%
• Active inventory: 75
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $6,250 high
• Mortgage (P&I): −$1,546
• Tax from tax record: −$184 /mo · $2,210/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,312
• Net cashflow: $3,084

Break-even live

Break-even rent $2,346

Max offer price $294,900

Occupancy floor 46%

Sensitivity live

Price	-10% $3,251	-5% $3,167	+0% $3,084	+5% $3,000	+10% $2,917
Rent	-10% $2,590	-5% $2,837	+0% $3,084	+5% $3,331	+10% $3,578
Rate	-1.0pp $3,232	-0.5pp $3,159	base $3,084	+0.5pp $3,008	+1.0pp $2,930

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$6,248
Total (4 units)			$6,250

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: $73,725
• Closing costs: $8,847
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-16
   statusdays on market $294,900 Pending 13 DOM
2. 2026-06-15
   pricedays on market $294,900 Active 12 DOM
3. 2026-06-13
   days on market $299,900 Active 10 DOM
4. 2026-06-13
   days on market $299,900 Active 9 DOM
5. 2026-06-10
   days on market $299,900 Active 7 DOM
6. 2026-06-09
   days on market $299,900 Active 6 DOM
7. 2026-06-09
   days on market $299,900 Active 5 DOM
8. 2026-06-07
   days on market $299,900 Active 4 DOM
9. 2026-06-03
   remarks 699-char remark
10. 2026-06-03
    listed $299,900 Active 1 DOM

ⓘ 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: $2,210 · $184/mo
• Projected year-2 tax: $3,597 · $300/mo
• Expected delta: +$1,387/yr (+$116/mo · 62.7%)

ⓘ 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 · 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: $75,000
• − Mortgage interest: −$16,519
• − Property taxes: −$2,210
• − Insurance: −$1,474
• − Repairs & maintenance: −$6,000
• − Management: −$6,000
• − Depreciation: −$8,579
• Taxable income: $34,217
• Est. tax owed @ 24.0%: −$8,212
• After-tax cash flow: $28,795/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): 17,884
• Household income: $51,262
• Rent vs Own: 45.6% rent · 54.4% own
• Severe rent burden: 1245.0

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 0.68)
• Race & ethnicity: White 45% Black 27% Hispanic / Latino 20% Two or more races 9% Asian 3%
• Hispanic origin (detail): Puerto Rican 16% Cuban 2%
• Common ancestry: Arab 3% Romanian 2% Subsaharan African 2%
• Foreign-born: 10% · Canada, India, Vietnam
• Languages at home: 81% English-only · Spanish 11% Arabic 2% Other Indo-European 2%

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: ▼ -31.81%
• Current HPI: 240.6896
• 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

+145.8% since first listed

18 events — show timeline

• 2026-06-03 Listed $299,900 UNYREIS
• 2024-06-06 Sold (Public Records) $269,900 Public Records
• 2024-05-24 Rental Removed $1,095 APPFOLIO
• 2024-04-24 Listed for Rent $1,095 APPFOLIO
• 2024-01-21 Rental Removed $1,095 APPFOLIO
• 2023-09-21 Price Changed $1,095 APPFOLIO
• 2023-08-29 Listed for Rent $995 APPFOLIO
• 2022-04-21 Price Changed $995 APPFOLIO
• 2016-10-21 Sold (Public Records) $92,000 Public Records
• 2016-10-19 Sold (MLS) $92,000 UNYREIS
• 2016-08-29 Pending — UNYREIS
• 2016-05-27 Listed $119,900 UNYREIS
• 2012-06-13 Listed $109,000 UNYREIS
• 2007-01-30 Sold (Public Records) $92,000 Public Records
• 2006-07-03 Sold (Public Records) $66,000 Public Records
• 1999-04-16 Sold (Public Records) $95,000 Public Records
• 1997-09-17 Sold (Public Records) $137,730 Public Records
• 1995-02-02 Sold (Public Records) $122,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $2,210 · -30.1% YoY. Source: county tax records.