111 Van Stallen St · Rochester, NY 14621

$103,900

6 bd · 6.4 ba · 2,378 sqft · MultiFamily · 41 Days on market

Built 1920 4,792 sqft lot Est $124k · 16% 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 +30.0/30.0
• ARV discount +14.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Great investment property. Both units currently rented month to month. Must provide 24 hours notice needed for showings. Current C of O expires 10/1/24. This property qualified for a $2,000 credit at some local banks. SELLER IS WILLING TO HOLD FINANCING WITH RIGHT TERMS.

Key facts

• 4,792 sq ft lot
• Built 1920
• Listed 41 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/3.2-bath units multifamily listed at $104k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $840/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $104k).
• Recommended offer: $101k (3.0% below list) — sets the bar for market timing.
• Cap rate 25.7% 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: Rents rising fast (+8.9%/yr); 114 active listings in the ZIP; lower-income renter base — watch delinquency; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $3,035/mo this rent would consume 103% of the median local household income ($35k/yr) (locally 2756% 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 $718 of loan paydown is wiped out by about $3k 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 + 8.0% rent growth), your $29k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($101k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $100,783 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.92% ✓
• Cap rate: 25.69%
• Cash-on-cash: 69.28%
• DSCR: 4.08
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $123,656
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
96 Sobieski St	0.42mi	6/3.5	2,450 (+3%)	6mo	$161,000	$66	59
75 Weyl St	0.12mi	7/2.0 (+1)	2,136 (-10%)	10mo	$75,000	$35	50
27-29 Trenaman St	0.53mi	6/2.0	2,454 (+3%)	7mo	$120,000	$49	47
373 Weaver St St	0.25mi	6/2.0	2,065 (-13%)	5mo	$79,999	$39	45
8 Trenaman St	0.56mi	6/2.0	2,426 (+2%)	10mo	$130,000	$54	44
1317 North St	0.46mi	6/2.0	2,526 (+6%)	9mo	$170,200	$67	43
292-294 Carter St	0.72mi	6/2.0	2,240 (-6%)	2mo	$80,000	$36	37
360 Remington St	0.33mi	5/3.0 (-1)	2,688 (+13%)	10mo	$90,000	$33	36
23 Kohlman St	0.44mi	6/2.0	2,548 (+7%)	18mo	$95,000	$37	35
65 Strong St	0.73mi	5/2.0 (-1)	2,395 (+1%)	14mo	$125,000	$52	33
135 Hollenbeck St	0.64mi	6/2.0	2,208 (-7%)	11mo	$170,000	$77	31
621 Joseph Ave	0.63mi	6/2.0	2,119 (-11%)	8mo	$115,000	$54	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 74.4%
• Equity multiple: 4.65×
• Total profit: $106,225
• Equity at exit: $15,492

10-year hold

• IRR: 79.6%
• Equity multiple: 11.43×
• Total profit: $303,435
• Equity at exit: $8,983

Cash invested: $29,092 (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 14621

• Home prices YoY: -4.0%
• Rents YoY: 8.9%
• Active inventory: 114
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $3,035 high
• Mortgage (P&I): −$545
• Tax est. 1.5%: −$130 /mo · $1,558/yr
• Insurance: −$43
• HOA: −$0
• Vacancy / Maint / Mgmt: −$637
• Net cashflow: $1,680

Break-even live

Break-even rent $909

Max offer price $103,900

Occupancy floor 40%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	3.2	$3,034
Total (2 units)			$3,035

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: $25,975
• Closing costs: $3,117
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2023-12-27
   status Pending
2. 2023-07-19
   status Pending Sale
3. 2023-07-14
   historical Continue to Show- Under Contract
4. 2023-06-08
   listed $103,900 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 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,420
• − Mortgage interest: −$5,820
• − Property taxes: −$1,558
• − Insurance: −$520
• − Repairs & maintenance: −$2,914
• − Management: −$2,914
• − Depreciation: −$3,023
• Taxable income: $19,672
• Est. tax owed @ 24.0%: −$4,721
• After-tax cash flow: $15,434/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): 32,381
• Household income: $35,383
• Rent vs Own: 64.6% rent · 35.4% own
• Severe rent burden: 2756.0

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 0.66)
• Race & ethnicity: Hispanic / Latino 40% Black 40% White 14% Two or more races 12% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 32% Dominican 3%
• Common ancestry: Romanian 1% Lithuanian 1% Serbian 1%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 65% English-only · Spanish 30% Other Asian/Pacific 2% French/Haitian/Cajun 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: ▼ -10.66%
• Current HPI: 254.1805
• Rent YoY: ▲ 8.88%
• 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

4 events — show timeline

• 2023-12-27 Pending — UNYREIS
• 2023-07-19 Pending — UNYREIS
• 2023-07-14 Contingent — UNYREIS
• 2023-06-08 Listed $103,900 UNYREIS