72 2nd St · Geneseo, NY 14454

$479,900

36 bd · None ba · 8,856 sqft · MultiFamily public records · 97 Days on market

0.31 ac lot

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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
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

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

Exceptional investment opportunity just minutes from SUNY Geneseo and local amenities! This fully updated 6-unit property is situated in a high-demand area and features extensive modern upgrades throughout. Already grossing over $6,000 a month in its current condition. Each unit includes newer furnaces, updated hot water tanks, and beautiful new hardwood floors. The building boasts a newer roof, updated appliances in select apartments, and additional improvements that enhance overall value and appeal. Utilities are separated by unit—except for Unit 1, which includes all. Water and garbage are fairly prorated across tenants. Enjoy added value with two covered porches, plenty of off-str

Key facts

• Modern upgrades
• Newer furnaces
• Newer roof

Tags

• UPDATED 6-UNIT PROPERTY
• MODERN UPGRADES
• NEWER FURNACES
• UPDATED HOT WATER TANKS
• NEW HARDWOOD FLOORS
• NEWER ROOF

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1.5-bath units multifamily listed at $480k.

Deal economics

• At list price, monthly cash flow is $4k ($50k/yr) — positive. Per door: $695/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $480k).
• Recommended offer: $437k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#439 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+, amenities B, cost of living B; Watch: schools C-, housing D+, crime F.
• Geneseo Central School District (town): math 46% / reading 57% proficiency, ranked #367 of 590 in NY (top 62%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 24 active listings in the ZIP; 86 units permitted in Livingston County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Livingston County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $134k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($437k) is reasonable based on typical stale-listing flexibility.
• 20 sale attempts since 7y 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.

Recommended offer $436,709 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.07% ✓
• Cap rate: 16.72%
• Cash-on-cash: 37.23%
• DSCR: 2.66
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 33.2%
• Equity multiple: 2.40×
• Total profit: $188,093
• Equity at exit: $71,555

10-year hold

• IRR: 40.2%
• Equity multiple: 4.77×
• Total profit: $507,140
• Equity at exit: $41,493

Cash invested: $134,372 (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 14454

• Home prices YoY: -19.9%
• Active inventory: 24
• Price-to-rent: 24.2×

Monthly cashflow live

• Estimated rent: $9,922 medium
• Mortgage (P&I): −$2,517
• Tax from tax record: −$953 /mo · $11,440/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,084
• Net cashflow: $4,168

Break-even live

Break-even rent $4,645

Max offer price $479,900

Occupancy floor 53%

Sensitivity live

Price	-10% $4,440	-5% $4,304	+0% $4,168	+5% $4,033	+10% $3,897
Rent	-10% $3,385	-5% $3,777	+0% $4,168	+5% $4,560	+10% $4,952
Rate	-1.0pp $4,410	-0.5pp $4,291	base $4,168	+0.5pp $4,044	+1.0pp $3,918

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1.5	$9,924
Total (6 units)			$9,922

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: $119,975
• Closing costs: $14,397
• Reserves months: —
• Total cash needed: —

Listing history 48 events

1. 2026-04-19
   status Pending
2. 2026-01-12
   listed $479,900 Active
3. 2026-01-08
   historical
4. 2025-10-07
   status Active
5. 2025-10-01
   status Pending
6. 2025-10-01
   status Active
7. 2025-09-30
   status Pending
8. 2025-09-15
   price $479,900
9. 2025-07-08
   listed $499,900 Active
10. 2025-06-10
    historical
11. 2025-04-03
    price $534,000
12. 2025-03-03
    historical $825
13. 2025-03-02
    listed $825
14. 2024-12-03
    historical $825
15. 2024-12-03
    listed $825
16. 2024-11-21
    historical $825
17. 2024-11-19
    listed $825
18. 2024-11-08
    historical $900
19. 2024-11-04
    listed $900
20. 2024-10-19
    historical $850
21. 2024-10-19
    listed $850
22. 2024-10-12
    historical $850
23. 2024-10-11
    listed $850
24. 2024-10-11
    historical $850
25. 2024-10-11
    listed $850
26. 2024-10-06
    historical $850
27. 2024-10-05
    listed $850
28. 2024-10-02
    historical $850
29. 2024-10-02
    listed $850
30. 2024-09-28
    historical $850
31. 2024-09-28
    price $544,000
32. 2024-09-27
    listed $850
33. 2024-09-21
    historical $850
34. 2024-09-19
    historical $850
35. 2024-09-19
    listed $850
36. 2024-09-16
    listed $850
37. 2024-09-12
    historical $850
38. 2024-09-11
    listed $850
39. 2024-06-10
    listed $545,000 Active
40. 2024-06-03
    historical
41. 2024-03-11
    listed $550,000
42. 2021-10-28
    soldstatus $510,000 Closed Sale or Rented
43. 2021-10-11
    status Pending Sale
44. 2021-09-03
    status Under Contract- Do Not Show
45. 2021-08-01
    historical Continue to Show- Under Contract
46. 2021-07-08
    price $540,000
47. 2019-07-19
    listed $580,000 Active
48. 2005-07-29
    soldstatus $310,000

ⓘ 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: $11,440 · $953/mo
• Projected year-2 tax: $11,440 · $953/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 16 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: $119,064
• − Mortgage interest: −$26,882
• − Property taxes: −$11,440
• − Insurance: −$2,400
• − Repairs & maintenance: −$9,525
• − Management: −$9,525
• − Depreciation: −$13,961
• Taxable income: $45,332
• Est. tax owed @ 24.0%: −$10,880
• After-tax cash flow: $39,142/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: Geneseo Central School District
• NCES district ID: 3611940
• Math proficiency: 46% ▼ -8.00%
• Reading proficiency: 57% ▲ 3.00%
• Median HH income: $45,008
• Composite: 43.51/100
• National rank: #2991
• State rank: #367 of 590 in NY

Livability — Geneseo

• Score: 70/100
• State rank: #439
• US rank: #7675

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Geneseo, NY
• Population (ZIP): 11,044

Population outlook (Livingston County) Hauer SSP2

• Today (2025): 63,466 people
• By 2030: 61,966 · -2.4%
• By 2040: 58,398 · -8.0%
• By 2050: 54,955 · -13.4%
• By 2075: 49,958 · -21.3%
• By 2100: 43,944 · -30.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 6% Two or more races 4% Asian 4% Black 3%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Lithuanian 4% Romanian 4% Iranian 1%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 87% English-only · Spanish 3% Other Asian/Pacific 2% Other Indo-European 2%

Political lean MEDSL · Livingston

• 2024 margin: Strong R (+21.4) · D 39.3% · R 60.7%
• 2008→2024 swing: -13.6pp toward R · 2008: -7.9pp · 2024: -21.4pp
• All cycles: 2024: R+21.4 2020: R+18.2 2016: R+27.8 2012: R+9.4 2008: R+7.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.80%
• Current HPI: 240.6555
• Rent YoY: —
• Metro: —
• 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

+54.8% since first listed

48 events — show timeline

• 2026-04-19 Pending — WNYREIS
• 2026-01-12 Listed $479,900 WNYREIS
• 2026-01-08 Listing Removed — WNYREIS
• 2025-10-07 Relisted — WNYREIS
• 2025-10-01 Pending — WNYREIS
• 2025-10-01 Relisted — WNYREIS
• 2025-09-30 Pending — WNYREIS
• 2025-09-15 Price Changed $479,900 WNYREIS
• 2025-07-08 Listed $499,900 WNYREIS
• 2025-06-10 Listing Removed — UNYREIS
• 2025-04-03 Price Changed $534,000 UNYREIS
• 2025-03-03 Rental Removed $825 LEASESTAR
• 2025-03-02 Listed for Rent $825 LEASESTAR
• 2024-12-03 Rental Removed $825 LEASESTAR
• 2024-12-03 Listed for Rent $825 LEASESTAR
• 2024-11-21 Rental Removed $825 LEASESTAR
• 2024-11-19 Listed for Rent $825 LEASESTAR
• 2024-11-08 Rental Removed $900 LEASESTAR
• 2024-11-04 Listed for Rent $900 LEASESTAR
• 2024-10-19 Rental Removed $850 LEASESTAR
• 2024-10-19 Listed for Rent $850 LEASESTAR
• 2024-10-12 Rental Removed $850 LEASESTAR
• 2024-10-11 Listed for Rent $850 LEASESTAR
• 2024-10-11 Rental Removed $850 LEASESTAR
• 2024-10-11 Listed for Rent $850 LEASESTAR
• 2024-10-06 Rental Removed $850 LEASESTAR
• 2024-10-05 Listed for Rent $850 LEASESTAR
• 2024-10-02 Rental Removed $850 LEASESTAR
• 2024-10-02 Listed for Rent $850 LEASESTAR
• 2024-09-28 Rental Removed $850 LEASESTAR
• 2024-09-28 Price Changed $544,000 UNYREIS
• 2024-09-27 Listed for Rent $850 LEASESTAR
• 2024-09-21 Rental Removed $850 LEASESTAR
• 2024-09-19 Rental Removed $850 LEASESTAR
• 2024-09-19 Listed for Rent $850 LEASESTAR
• 2024-09-16 Listed for Rent $850 LEASESTAR
• 2024-09-12 Rental Removed $850 LEASESTAR
• 2024-09-11 Listed for Rent $850 LEASESTAR
• 2024-06-10 Listed $545,000 UNYREIS
• 2024-06-03 Listing Removed — UNYREIS
• 2024-03-11 Listed $550,000 UNYREIS
• 2021-10-28 Sold (MLS) $510,000 UNYREIS
• 2021-10-11 Pending — UNYREIS
• 2021-09-03 Pending — UNYREIS
• 2021-08-01 Contingent — UNYREIS
• 2021-07-08 Price Changed $540,000 UNYREIS
• 2019-07-19 Listed $580,000 UNYREIS
• 2005-07-29 Sold (Public Records) $310,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $11,440 · +2.9% YoY. Source: county tax records.