641 Jay St · Rochester, NY 14611

$145,000

3 bd · 2.0 ba · 2,190 sqft · MultiFamily public records · 7 Days on market

Built 1900 8,702 sqft lot Est $118k · 23% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Appreciation +3.5/10.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks MLS

Great freshly updated investment opportunity! Now available!! Each unit boasts a large kitchen, living room and generous-sized bedrooms (3 each), upstairs Units have laundry some of the updated included New Roof 2024, Vinyl Sided 2024, water tank 2024 All new paint and many more a cozy porch! Full basement. Tons of parking and all separate utilities. delayed negotiations Thursday 10-31-2024 @5pm

Key facts

• New floors
• Separate utilities
• Freshly painted

Tags

• WELL MAINTAINED DUPLEX
• SEPARATE ENTRANCES
• SEPARATE UTILITIES
• STRONG INCOME POTENTIAL
• FRESHLY PAINTED
• NEW FLOORS

Property features AI

Finance

• Other: Owner pays water; rent includes water
• Financial info: Gross annual income listed as $16,800; Operating expenses listed as $2,500 (includes insurance, structure maintenance, professional management, snow removal, water/sewer); One unit currently listed with $1,400 monthly rent; other unit rent shown as 0

Exterior

• Parking: Two or more parking spaces
• Security: Fire escape
• Utilities: Electricity connected; Public water connected; Sewer connected; High-speed internet available
• Home design: Two-story multi-family (2-unit) building; Residential 2-unit zoning; Existing condition
• Construction: Vinyl siding; Asphalt shingle roof; Block foundation; Built (existing structure)
• Exterior features: Rectangular residential lot; City street frontage

Interior

• Kitchen: Oven/Range; Refrigerator; Eat-in kitchen in each unit
• Bedrooms: Two 3-bedroom units
• Flooring: Laminate flooring; Varies by area
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas heating (natural gas); Forced air; Hot water; Stove heat
• Interior features: Full basement; Fire escape
• Laundry & utility: Gas water heater; Separate gas meters for each unit; Separate electric meters for each unit

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $145k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $709/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $145k).
• Cap rate 18.0% 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: 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.
• Zoned schools: School 17-Enrico Fermi (math 2% / reading 12%, grade F, #2,087 of 2,108 statewide, top 99%, 644 students, 92% FRL); East Lower School (math 2% / reading 22%, grade F, #715 of 729 statewide, top 98%, 304 students, 86% FRL); Edison Career And Technology High School (math 44% / reading 50%, grade D-, #1,007 of 1,100 statewide, top 93%, 1,233 students, 91% FRL).
• Market conditions: Rents rising fast (+6.4%/yr); 78 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $2,937/mo this rent would consume 112% of the median local household income ($31k/yr) (locally 2168% 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 (-2.9%/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 (-2.9% appreciation + 6.4% rent growth), your $41k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 16y 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,000

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 1900 — 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: 2.03% ✓
• Cap rate: 18.03%
• Cash-on-cash: 41.91%
• DSCR: 2.86
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $118,260
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
515 Lyell Ave	0.45mi	4/2.0 (+1)	2,094 (-4%)	5mo	$33,000	$16	63
98 Lime St	0.20mi	4/2.0 (+1)	1,978 (-10%)	10mo	$125,000	$63	62
52 Madison St	0.59mi	4/2.0 (+1)	2,311 (+6%)	11mo	$140,000	$61	49
541-543 Ames St #543	0.36mi	4/2.0 (+1)	2,426 (+11%)	16mo	$50,000	$21	47
10 Rogers Ave	0.65mi	4/2.0 (+1)	2,050 (-6%)	21mo	$110,000	$54	36
367 Troup St	0.71mi	3/3.0	2,000 (-9%)	17mo	$55,000	$28	34
723 Plymouth Ave N	0.68mi	4/2.0 (+1)	1,906 (-13%)	20mo	$110,000	$58	24

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-2.93% appreciation · 6.37% rent growth · sell at horizon

5-year hold

• IRR: 42.3%
• Equity multiple: 2.91×
• Total profit: $77,507
• Equity at exit: $22,063

10-year hold

• IRR: 49.8%
• Equity multiple: 6.65×
• Total profit: $229,342
• Equity at exit: $13,300

Cash invested: $40,600 (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 14611

• Home prices YoY: -1.1%
• Rents YoY: 6.4%
• Active inventory: 78
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,937 high
• Mortgage (P&I): −$760
• Tax from tax record: −$81 /mo · $978/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$617
• Net cashflow: $1,418

Break-even live

Break-even rent $1,142

Max offer price $145,000

Occupancy floor 47%

Sensitivity live

Price	-10% $1,500	-5% $1,459	+0% $1,418	+5% $1,377	+10% $1,336
Rent	-10% $1,186	-5% $1,302	+0% $1,418	+5% $1,534	+10% $1,650
Rate	-1.0pp $1,491	-0.5pp $1,455	base $1,418	+0.5pp $1,380	+1.0pp $1,342

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,938
Total (2 units)			$2,937

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
385 Ames St Rochester, NY	3.0	1.5	1738	$1,500	$0.86	23d	1	0.32mi
69 Angle St Rochester, NY	2.0	1.0	1500	$1,500	$1.00	16d	1	0.49mi
48 Thorndale Ter Rochester, NY	4.0	1.5	1700	$1,400	$0.82	16d	1	0.81mi
87 McNaughton St Unit 87 Rochester, NY	2.0	1.0	1929	$1,300	$0.67	16d	1	0.87mi
478 Tremont St Rochester, NY	3.0	2.0	1424	$1,500	$1.05	45d	1	0.90mi
161 Fillmore St Rochester, NY	4.0	2.0	1612	$1,400	$0.87	16d	1	1.06mi
327 Glenwood Ave Rochester, NY	3.0	1.0	2012	$1,690	$0.84	5d	1	1.21mi
39 State St Rochester, NY	1.0–2.0	1.0–2.5	1154	$3,500	$3.03	5d	8	1.25mi
249 1/2 Columbia Ave #249 Rochester, NY	3.0	1.0	1600	$1,300	$0.81	16d	1	1.32mi
80 St Paul St Rochester, NY	1.0–2.0	1.5–2.5	1024	$1,935	$1.89	5d	3	1.45mi

Listing history 7 events

1. 2026-06-18
   status $145,000 Pending 7 DOM
2. 2026-06-17
   days on market $145,000 Active 7 DOM
3. 2026-06-16
   days on market $145,000 Active 6 DOM
4. 2026-06-15
   days on market $145,000 Active 5 DOM
5. 2026-06-13
   days on market $145,000 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $145,000 Active 2 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: $978 · $81/mo
• Projected year-2 tax: $1,714 · $143/mo
• Expected delta: +$736/yr (+$61/mo · 75.3%)

ⓘ 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 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: $35,244
• − Mortgage interest: −$8,122
• − Property taxes: −$978
• − Insurance: −$725
• − Repairs & maintenance: −$2,820
• − Management: −$2,820
• − Depreciation: −$4,218
• Taxable income: $15,562
• Est. tax owed @ 24.0%: −$3,735
• After-tax cash flow: $13,280/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): 17,145
• Household income: $31,376
• Rent vs Own: 64.5% rent · 35.5% own
• Severe rent burden: 2168.0

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 0.61)
• Race & ethnicity: Black 55% White 22% Hispanic / Latino 18% Two or more races 13% Asian 1%
• Hispanic origin (detail): Puerto Rican 14% Dominican 2%
• Common ancestry: Romanian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 85% English-only · Spanish 12% French/Haitian/Cajun 1% 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: ▼ -2.93%
• Current HPI: 262.1549
• Rent YoY: ▲ 6.37%
• 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

+263.4% since first listed

20 events — show timeline

• 2026-06-10 Listed $145,000 UNYREIS
• 2024-12-05 Sold (Public Records) $164,000 Public Records
• 2024-12-05 Sold (MLS) $164,000 UNYREIS
• 2024-11-04 Pending — UNYREIS
• 2024-10-23 Listed $149,900 UNYREIS
• 2018-12-07 Pending — UNYREIS
• 2018-11-12 Listing Removed — UNYREIS
• 2018-11-01 Listed $34,900 UNYREIS
• 2018-11-01 Listing Removed — UNYREIS
• 2018-10-11 Listed $39,900 UNYREIS
• 2018-08-15 Pending — UNYREIS
• 2018-08-12 Listing Removed — UNYREIS
• 2018-08-07 Listed $35,000 UNYREIS
• 2015-09-25 Sold (Public Records) $46,000 Public Records
• 2015-01-21 Sold (Public Records) $35,900 Public Records
• 2013-07-31 Listing Removed — UNYREIS
• 2013-03-28 Listed $34,900 UNYREIS
• 2013-01-29 Sold (Public Records) $22,000 Public Records
• 2010-12-22 Listed $39,900 UNYREIS
• 1997-09-29 Sold (Public Records) $39,900 Public Records

Property tax history

+2.6%/yr

Latest (2025): $978 · -9.4% YoY. Source: county tax records.