1894 Manitou Rd · Greece, NY 14559

$179,900

2 bd · 1.0 ba · 1,352 sqft · SingleFamily public records · 2 Days on market

Built 1960 0.36 ac lot Est $251k · 28% 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 +15.9/30.0
• ARV discount +15.0/15.0
• 1% rule +5.9/10.0
• Schools +5.1/10.0
• DSCR +4.9/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SPENCERPORT SCHOOLS! Move in ready cape cod on a peaceful lot close to shopping and expressways with the "country feel" of Spencerport! Inviting living room with loads of natural sunlight and new laminate flooring. Eat-in kitchen with dining area great for entertaining has sliding glass door that leads to maintenance free deck overlooking back yard! 2 bedrooms on first level and full bathroom with jetted tub! Upstairs can be used as a private bedroom or great for "teen suite" or craft room with skylights. Full basement was professionally waterproofed and has walkout! Updated HVAC, roof, septic and windows! Attached garage has pull through with full door leading to the back yard. Call today to make an appointment to see your new home!

Key facts

• Hvac
• Updated windows
• Newer septic system

Tags

• BACKYARD
• TREE-LINED BACKYARD
• UPDATED WINDOWS
• NEWER SEPTIC SYSTEM
• ROOF REPLACED
• HVAC

Property features AI

Exterior

• Parking: Attached garage with one garage space; Driveway; Garage door opener
• Utilities: Cable available; High-speed internet available; Public water connected; Septic tank; Circuit breaker electric service
• Home design: Single-story home; Resale property; Asphalt roof
• Construction: Vinyl siding; Copper plumbing; Block foundation; Existing construction
• Exterior features: Blacktop driveway; Deck; Shed(s) / exterior storage

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Microwave; Eat-in layout
• Bedrooms: Two main-level bedrooms
• Flooring: Ceramic tile; Luxury vinyl; Varied flooring
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Separate/formal living room; Country-style kitchen; Sliding glass doors; Skylights; Bedroom on main level; Main level primary
• Laundry & utility: Laundry in the basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $87 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Cap rate 6.9% vs local median 3.7% in Greece — 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 79/100 on livability (#145 in NY, #2,223 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: schools D-, crime D-.
• Spencerport Central School District (suburban): math 52% / reading 63% proficiency, ranked #248 of 590 in NY (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 73 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y 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 $134k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price.

Recommended offer $179,900

Questions for the listing agent

1. Built in 1960 — 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 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?
5. Crime grade is D 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?
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: 1.09% ✓
• Cap rate: 6.87%
• Cash-on-cash: 2.07%
• DSCR: 1.09
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $251,472
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1904 Manitou Rd	0.07mi	3/1.0 (+1)	1,468 (+9%)	2mo	$216,000	$147	76
2005 Manitou Rd	0.50mi	3/1.5 (+1)	1,411 (+4%)	21mo	$210,000	$149	44
309 Saint Andrews Dr	0.66mi	3/2.0 (+1)	1,410 (+4%)	12mo	$262,000	$186	43
84 Orchard Hills Dr	0.47mi	3/1.5 (+1)	1,180 (-13%)	24mo	$272,000	$231	30

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: -12.9%
• Equity multiple: 0.53×
• Total profit: $-23,450
• Equity at exit: $26,824

10-year hold

• IRR: -3.8%
• Equity multiple: 0.75×
• Total profit: $-12,625
• Equity at exit: $15,554

Cash invested: $50,372 (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 14559

• Home prices YoY: -31.7%
• Active inventory: 73
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,959 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$442 /mo · $5,306/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $87

Break-even live

Break-even rent $1,849

Max offer price $179,900

Occupancy floor 91%

Sensitivity live

Price	-10% $189	-5% $138	+0% $87	+5% $36	+10% $-15
Rent	-10% $-68	-5% $10	+0% $87	+5% $164	+10% $242
Rate	-1.0pp $178	-0.5pp $133	base $87	+0.5pp $40	+1.0pp $-7

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
49 Lianne Dr Rochester, NY	3.0	2.0	1281	$2,650	$2.07	3d	1	1.25mi

Listing history 3 events

1. 2026-06-18
   days on market $179,900 Active 2 DOM
2. 2026-06-16
   remarks 699-char remark
3. 2026-06-16
   listed $179,900 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: $5,306 · $442/mo
• Projected year-2 tax: $5,306 · $442/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 4/10 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,507
• − Mortgage interest: −$10,077
• − Property taxes: −$5,306
• − Insurance: −$900
• − Repairs & maintenance: −$1,881
• − Management: −$1,881
• − Depreciation: −$5,233
• Taxable loss: −$1,771
• Est. tax savings @ 24.0%: +$425
• After-tax cash flow: $1,469/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: Spencerport Central School District
• NCES district ID: 3627780
• Math proficiency: 52% ▼ -15.00%
• Reading proficiency: 63% ▲ 8.00%
• Median HH income: $66,920
• Composite: 50.58/100
• National rank: #1846
• State rank: #248 of 590 in NY

Livability — Greece

• Score: 79/100
• State rank: #145
• US rank: #2223

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Monroe County · 674,131 people
• City population: 29,210
• Metro: Rochester, NY
• Population (ZIP): 17,200
• Household income: $94,794
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 220.0

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 (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 2% Black 1%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Russian/Polish/Slavic 2% 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: ▼ -121.06%
• Current HPI: 260.3489
• 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

+90.6% since first listed

12 events — show timeline

• 2026-06-16 Listed $179,900 UNYREIS
• 2019-04-12 Sold (MLS) $134,000 UNYREIS
• 2019-03-18 Pending — UNYREIS
• 2019-02-25 Pending — UNYREIS
• 2019-02-14 Price Changed $129,900 UNYREIS
• 2019-02-06 Listed $134,900 UNYREIS
• 2018-07-05 Sold (MLS) $125,000 UNYREIS
• 2018-06-29 Sold (Public Records) $125,000 Public Records
• 2018-05-10 Pending — UNYREIS
• 2018-04-27 Price Changed $122,900 UNYREIS
• 2018-04-24 Listed $126,900 UNYREIS
• 2005-11-10 Sold (Public Records) $94,400 Public Records

Property tax history

+3.8%/yr

Latest (2025): $5,306 · +6.0% YoY. Source: county tax records.