2698 State Route 21 · Canandaigua, NY 14424

$239,900

3 bd · 2.0 ba · 1,400 sqft · SingleFamily public records · 3 Days on market

Built 1970 0.50 ac lot Est $260k · 8% under

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Why this score? — see what drove the D+ 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 +12.3/30.0
• ARV discount +11.0/15.0
• Schools +4.7/10.0
• Rent growth +4.6/5.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• 1% rule +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 Bedroom/2 Full Bath Ranch Home on Nice Level Lot, Eat In Kitchen, Dining Area, Large front Living Room, Bonus Room off Dining Room, EnSuite w/ Bath, 1st Floor Laundry, Large LL Ready to be Finished, 2 Car Tandem Garage, Large Back Yard, Newer Windows, New Ht Wtr Htr, Minutes to downtown Canandaigua and Canandaigua Lake. No Delayed Negotiations.

Key facts

• One-level living
• Bonus room
• Eat-in kitchen

Tags

• ONE-LEVEL LIVING
• EAT-IN KITCHEN
• BONUS ROOM
• PRIVATE EN-SUITE BATH
• FIRST-FLOOR LAUNDRY
• HARDWOOD FLOORS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $-44 ($-524/yr) — negative.
• To cash-flow at today's rent, offer at most $232k (3.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $203k (15.5% below list).
• Recommended offer: $203k (15.5% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.3% in Canandaigua — 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 75/100 on livability (#243 in NY, #3,822 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living B; Watch: employment C-, amenities F, health & safety D-.
• Canandaigua City School District (suburban): math 50% / reading 59% proficiency, ranked #305 of 590 in NY (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Canandaigua Primary-Elementary School (math 37% / reading 49%, grade F, #1,354 of 2,108 statewide, top 64%, 1,475 students, 41% FRL); Canandaigua Middle School (math 38% / reading 55%, grade D+, #330 of 729 statewide, top 46%, 676 students, 0% FRL); Canandaigua Academy (math 100% / reading 92%, grade A+, #71 of 1,100 statewide, top 7%, 1,082 students, 36% FRL) — zoned schools at 26% FRL track the district average.
• Market conditions: Rents rising fast (+8.5%/yr); 223 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 284 units permitted in Ontario County in 2024 (69 in 5+ unit buildings).
• This rent runs 30% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Ontario County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y 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.
• Current owner paid $175k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $202,738 (15.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1970 — 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 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.85% ✗
• Cap rate: 6.07%
• Cash-on-cash: -0.78%
• DSCR: 0.97
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $260,400
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2550 East St	0.40mi	2/1.5 (-1)	1,404 (+0%)	17mo	$185,000	$132	60
365 Gibson St	0.35mi	3/1.0	1,507 (+8%)	11mo	$280,000	$186	58
100 East St	0.30mi	3/1.0	1,250 (-11%)	10mo	$236,000	$189	55
227 Ontario Street Ext	0.74mi	3/2.0	1,472 (+5%)	9mo	$250,000	$170	49

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: -12.2%
• Equity multiple: 0.54×
• Total profit: $-30,916
• Equity at exit: $35,770

10-year hold

• IRR: 3.1%
• Equity multiple: 1.27×
• Total profit: $18,357
• Equity at exit: $20,742

Cash invested: $67,172 (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 14424

• Home prices YoY: -21.2%
• Rents YoY: 8.5%
• Active inventory: 223
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,027 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$287 /mo · $3,447/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $-44

Break-even live

Break-even rent $2,083

Max offer price $232,191

Occupancy floor 97%

Sensitivity live

Price	-10% $92	-5% $24	+0% $-44	+5% $-112	+10% $-179
Rent	-10% $-204	-5% $-124	+0% $-44	+5% $36	+10% $117
Rate	-1.0pp $77	-0.5pp $17	base $-44	+0.5pp $-106	+1.0pp $-169

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
79 Granger St Canandaigua, NY	4.0	1.5	1740	$2,700	$1.55	45d	1	1.04mi
79 Saltonstall St Canandaigua, NY	2.0	1.0	1000	$1,290	$1.29	5d	1	1.25mi

Listing history 10 events

1. 2026-03-02
   status Pending
2. 2026-02-26
   listed $239,900 Active
3. 2022-09-29
   soldstatus $175,000 Closed Sale or Rented 348-char remark

   Show marketing remark (348 chars)

   3 Bedroom/2 Full Bath Ranch Home on Nice Level Lot, Eat In Kitchen, Dining Area, Large front Living Room, Bonus Room off Dining Room, EnSuite w/ Bath, 1st Floor Laundry, Large LL Ready to be Finished, 2 Car Tandem Garage, Large Back Yard, Newer Windows, New Ht Wtr Htr, Minutes to downtown Canandaigua and Canandaigua Lake. No Delayed Negotiations.

4. 2022-09-23
   soldstatus $175,000
5. 2022-08-08
   status Pending Sale 348-char remark

   Show marketing remark (348 chars)

   3 Bedroom/2 Full Bath Ranch Home on Nice Level Lot, Eat In Kitchen, Dining Area, Large front Living Room, Bonus Room off Dining Room, EnSuite w/ Bath, 1st Floor Laundry, Large LL Ready to be Finished, 2 Car Tandem Garage, Large Back Yard, Newer Windows, New Ht Wtr Htr, Minutes to downtown Canandaigua and Canandaigua Lake. No Delayed Negotiations.

6. 2022-07-27
   status Active 348-char remark

   Show marketing remark (348 chars)

   3 Bedroom/2 Full Bath Ranch Home on Nice Level Lot, Eat In Kitchen, Dining Area, Large front Living Room, Bonus Room off Dining Room, EnSuite w/ Bath, 1st Floor Laundry, Large LL Ready to be Finished, 2 Car Tandem Garage, Large Back Yard, Newer Windows, New Ht Wtr Htr, Minutes to downtown Canandaigua and Canandaigua Lake. No Delayed Negotiations.

7. 2022-07-20
   status Pending Sale 348-char remark

   Show marketing remark (348 chars)

   3 Bedroom/2 Full Bath Ranch Home on Nice Level Lot, Eat In Kitchen, Dining Area, Large front Living Room, Bonus Room off Dining Room, EnSuite w/ Bath, 1st Floor Laundry, Large LL Ready to be Finished, 2 Car Tandem Garage, Large Back Yard, Newer Windows, New Ht Wtr Htr, Minutes to downtown Canandaigua and Canandaigua Lake. No Delayed Negotiations.

8. 2022-07-17
   price $189,900 348-char remark

   Show marketing remark (348 chars)

   3 Bedroom/2 Full Bath Ranch Home on Nice Level Lot, Eat In Kitchen, Dining Area, Large front Living Room, Bonus Room off Dining Room, EnSuite w/ Bath, 1st Floor Laundry, Large LL Ready to be Finished, 2 Car Tandem Garage, Large Back Yard, Newer Windows, New Ht Wtr Htr, Minutes to downtown Canandaigua and Canandaigua Lake. No Delayed Negotiations.

9. 2022-07-09
   price $199,900 348-char remark

   Show marketing remark (348 chars)

   3 Bedroom/2 Full Bath Ranch Home on Nice Level Lot, Eat In Kitchen, Dining Area, Large front Living Room, Bonus Room off Dining Room, EnSuite w/ Bath, 1st Floor Laundry, Large LL Ready to be Finished, 2 Car Tandem Garage, Large Back Yard, Newer Windows, New Ht Wtr Htr, Minutes to downtown Canandaigua and Canandaigua Lake. No Delayed Negotiations.

10. 2022-07-08
    listed $189,900 Active 348-char remark

    Show marketing remark (348 chars)

    3 Bedroom/2 Full Bath Ranch Home on Nice Level Lot, Eat In Kitchen, Dining Area, Large front Living Room, Bonus Room off Dining Room, EnSuite w/ Bath, 1st Floor Laundry, Large LL Ready to be Finished, 2 Car Tandem Garage, Large Back Yard, Newer Windows, New Ht Wtr Htr, Minutes to downtown Canandaigua and Canandaigua Lake. No Delayed Negotiations.

ⓘ 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: $3,447 · $287/mo
• Projected year-2 tax: $3,751 · $313/mo
• Expected delta: +$304/yr (+$25/mo · 8.8%)

ⓘ 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 · 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,329
• − Mortgage interest: −$13,438
• − Property taxes: −$3,447
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,946
• − Management: −$1,946
• − Depreciation: −$6,979
• Taxable loss: −$4,628
• Est. tax savings @ 24.0%: +$1,111
• After-tax cash flow: $587/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: Canandaigua City School District
• NCES district ID: 3606330
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 59% ▲ 4.00%
• Median HH income: $56,375
• Composite: 47.09/100
• National rank: #2335
• State rank: #305 of 590 in NY

Livability — Canandaigua

• Score: 75/100
• State rank: #243
• US rank: #3822

Category grades

Amenities F Commute A+ Cost of living B Crime B- Employment C- Housing A+ Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Ontario County · 58,989 people
• City population: 28,786
• Metro: Rochester, NY
• Population (ZIP): 28,786
• Household income: $79,778
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 737.0

Population outlook (Ontario County) Hauer SSP2

• Today (2025): 111,230 people
• By 2030: 111,401 · +0.2%
• By 2040: 109,535 · -1.5%
• By 2050: 104,895 · -5.7%
• By 2075: 92,999 · -16.4%
• By 2100: 73,723 · -33.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 5% Black 1%
• Common ancestry: Romanian 4% Iranian 4% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% German/W. Germanic 1% Arabic 1%

Political lean MEDSL · Ontario

• 2024 margin: Toss-up / Even · D 49.4% · R 50.6%
• 2008→2024 swing: -1.0pp toward R · 2008: -0.1pp · 2024: -1.2pp
• All cycles: 2024: R+1.2 2020: R+0.0 2016: R+8.6 2012: R+1.6 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.94%
• Current HPI: 263.755
• Rent YoY: ▲ 8.46%
• 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

+26.3% since first listed

10 events — show timeline

• 2026-03-02 Pending — UNYREIS
• 2026-02-26 Listed $239,900 UNYREIS
• 2022-09-29 Sold (MLS) $175,000 UNYREIS
• 2022-09-23 Sold (Public Records) $175,000 Public Records
• 2022-08-08 Pending — UNYREIS
• 2022-07-27 Relisted — UNYREIS
• 2022-07-20 Pending — UNYREIS
• 2022-07-17 Price Changed $189,900 UNYREIS
• 2022-07-09 Price Changed $199,900 UNYREIS
• 2022-07-08 Listed $189,900 UNYREIS

Property tax history

+5.9%/yr

Latest (2025): $3,447 · +2.3% YoY. Source: county tax records.