524 Howard Rd · Gates, NY 14624

$199,000

3 bd · 1.5 ba · 1,312 sqft · SingleFamily public records · 1 Days on market

Built 1952 7,405 sqft lot Est $253k · 21% under

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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 +21.0/30.0
• ARV discount +15.0/15.0
• 1% rule +6.8/10.0
• DSCR +6.7/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity- Endless potential in a prime location. Bring your vision & creativity to this promising property full of potential & profit. Selling as is. Located in a desirable Gates neighborhood conveniently located near schools, shopping, and expressways. This home offers a solid footprint & classic layout ready for your personal touch & customization. Featuring spacious rooms, generous natural light, and functional floor plan with a heated garage for the hobbyist in the home. The property is ideal for investors or buyers looking to design their dream home from the ground up. While the home does require updates and some repairs, it presents a rare opportuni

Key facts

• Heated garage
• Solid footprint
• Classic layout

Tags

• HEATED GARAGE
• SOLID FOOTPRINT
• CLASSIC LAYOUT
• FUNCTIONAL FLOOR PLAN
• GENEROUS NATURAL LIGHT

Property features AI

Exterior

• Parking: Attached heated garage with garage door opener (1 car)
• Utilities: Electricity connected; Public water connected; Sewer connected; Cable available
• Home design: Single-story; Resale property
• Construction: Aluminum and vinyl siding; Asphalt roof; Stone foundation; Existing construction
• Exterior features: Blacktop driveway; Partial fence; Shed(s)/storage

Interior

• Kitchen: Gas range; Gas oven; Refrigerator
• Bedrooms: 2 main level bedrooms
• Flooring: Hardwood; Laminate; Tile; Varies
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main level bathroom
• Heating & cooling: Forced air heating (electric and gas); Central air conditioning
• Interior features: Eat-in kitchen; Separate/formal living room; Thermal windows; Main level primary; Bedroom on main level; Partially finished full basement
• Laundry & utility: Washer; Dryer in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $282 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Cap rate 8.0% vs local median 5.9% in Gates — 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 67/100 on livability (#582 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+; Watch: amenities F, commute F.
• Gates-Chili Central School District (suburban): math 41% / reading 42% proficiency, ranked #491 of 590 in NY (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 127 active listings in the ZIP; solid renter incomes; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• This rent runs 32% of the median local income ($88k/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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $73k; list at $199k implies a 173% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $199,000

Questions for the listing agent

1. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
6. 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.
7. 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: 1.18% ✓
• Cap rate: 7.99%
• Cash-on-cash: 6.07%
• DSCR: 1.27
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $253,216
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
67 Colwick Rd	0.11mi	4/1.0 (+1)	1,297 (-1%)	2mo	$200,000	$154	84
36 Gatewood Ave	0.21mi	3/1.0	1,242 (-5%)	3mo	$260,000	$209	77
151 Gatewood Ave	0.22mi	2/1.0 (-1)	1,218 (-7%)	4mo	$179,540	$147	67
87 Bru Mar Dr	0.55mi	3/2.0	1,364 (+4%)	1mo	$305,000	$224	65
20 Fairchild Rd	0.47mi	4/1.0 (+1)	1,346 (+3%)	4mo	$203,000	$151	63
68 Elder St	0.43mi	3/1.5	1,200 (-8%)	6mo	$215,000	$179	61
321 Crestwood Blvd	0.27mi	4/1.0 (+1)	1,455 (+11%)	2mo	$236,000	$162	60
48 Bramblewood Ln W	0.70mi	3/2.0	1,306 (-0%)	7mo	$265,000	$203	59
178 Ardella St	0.50mi	4/1.0 (+1)	1,246 (-5%)	4mo	$240,000	$193	58
34 Landau Dr	0.26mi	4/2.0 (+1)	1,118 (-15%)	6mo	$285,600	$255	51
32 Drexel Dr	0.54mi	3/2.0	1,144 (-13%)	2mo	$285,000	$249	50
12 Beechcraft Dr	0.59mi	3/1.0	1,144 (-13%)	7mo	$176,000	$154	44

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: -6.9%
• Equity multiple: 0.75×
• Total profit: $-14,147
• Equity at exit: $29,672

10-year hold

• IRR: 2.8%
• Equity multiple: 1.21×
• Total profit: $11,434
• Equity at exit: $17,206

Cash invested: $55,720 (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 14624

• Active inventory: 127
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,355 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$453 /mo · $5,432/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $282

Break-even live

Break-even rent $1,999

Max offer price $199,000

Occupancy floor 83%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-19
   remarks 683-char remark
2. 2026-06-19
   listed $199,000 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: $5,432 · $453/mo
• Projected year-2 tax: $5,432 · $453/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 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: $28,265
• − Mortgage interest: −$11,147
• − Property taxes: −$5,432
• − Insurance: −$995
• − Repairs & maintenance: −$2,261
• − Management: −$2,261
• − Depreciation: −$5,789
• Taxable income: $380
• Est. tax owed @ 24.0%: −$91
• After-tax cash flow: $3,289/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: Gates-Chili Central School District
• NCES district ID: 3611880
• Math proficiency: 41% ▼ -12.00%
• Reading proficiency: 42% ▼ -6.00%
• Median HH income: $55,045
• Composite: 36.23/100
• National rank: #4719
• State rank: #491 of 590 in NY

Livability — Gates

• Score: 67/100
• State rank: #582
• US rank: #10531

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gates, NY
• County: Monroe County · 674,131 people
• Metro: Rochester, NY
• Population (ZIP): 38,626
• Household income: $87,989
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 584.0

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 (78%)
• Race & ethnicity: White 78% Black 9% Hispanic / Latino 6% Two or more races 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 6% Iranian 2% Lithuanian 2%
• Foreign-born: 7% · Canada, China, India
• Languages at home: 90% English-only · Spanish 3% Other Indo-European 3% Russian/Polish/Slavic 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: ▼ -151.26%
• Current HPI: 267.356
• 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

+172.6% since first listed

2 events — show timeline

• 2026-06-18 Listed $199,000 UNYREIS
• 2000-11-30 Sold (Public Records) $73,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $5,432 · +5.6% YoY. Source: county tax records.