184 Wellington Ave · Rochester, NY 14611

$140,000

4 bd · 2.0 ba · 2,340 sqft · MultiFamily public records · 7 Days on market

Built 1920 4,791 sqft lot $60/sqft · 37% below area Est $223k · 37% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Great investment opportunity in the heart of the 19th ward! Investor or owner occupant, add this charmer to your portfolio while it lasts! This 2 unit multi-family has been extensively updated top to bottom. New windows, refinished kitchens & baths, refinished flooring, fresh paint. New roof (2018). You will appreciate the beautiful hardwood floors and natural woodwork! Each unit has 2 spacious bedrooms 1 full bath. Month to month leases. Separate utilities. Downstairs apartment will be vacant upon closing. Upstairs apartment includes stackable washer & dryer in unit. Delayed negotiation until 10/24/21 at 12pm.

Key facts

• Decorative fireplace
• Pocket doors
• Original details

Tags

• NATURAL WOOD TRIM
• POCKET DOORS
• HARDWOOD FLOORS
• DECORATIVE FIREPLACE
• BUILT-INS
• ORIGINAL DETAILS

Property features AI

Finance

• Financial info: Owner pays trash collection and water; tenants pay all utilities; Operating expense details: see remarks

Exterior

• Parking: Two or more parking spaces
• Utilities: Public water (connected); Sewer connected; Cable available; High-speed internet available; Circuit breaker electric service
• Home design: Two-story building; Existing condition
• Construction: Stone foundation; Composite siding; Wood siding; Asphalt roof; Copper and PEX plumbing
• Exterior features: Partial fencing; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Each unit includes a dining area with kitchen
• Bedrooms: Two 2-bedroom units (each unit with 2 bedrooms)
• Flooring: Hardwood; Luxury vinyl; Varied flooring
• Bathrooms: Each unit has 1 full bathroom (2 full bathrooms total)
• Heating & cooling: Gas heating; Hot water / steam heating
• Interior features: Thermal windows; Natural woodwork
• Laundry & utility: Washer and dryer included in at least one unit

🏷️ Possibly a rental listed for sale. The $140,000 price doesn't fit this home's estimated sale value (~$223,232) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $558 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).

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: Joseph C Wilson Foundation Academy (math 8% / reading 17%, grade F, #2,049 of 2,108 statewide, top 98%, 404 students, 91% 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; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $1,873/mo this rent would consume 72% 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 $968 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 $39k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,000

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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 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: 1.34% ✓
• Cap rate: 11.08%
• Cash-on-cash: 17.09%
• DSCR: 1.76
• GRM: 6.2

CMA / ARV

• ARV (median comp): $223,232
• List price: $140,000
• Delta: -37.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
231 Kenwood Ave	0.05mi	4/2.0	2,439 (+4%)	14mo	$92,000	$38	79
149 Warwick Ave	0.10mi	5/3.0 (+1)	2,293 (-2%)	7mo	$110,000	$48	77
286 Kenwood Ave	0.13mi	5/2.0 (+1)	2,202 (-6%)	10mo	$160,000	$73	71
21 Arnett Blvd	0.40mi	5/2.0 (+1)	2,322 (-1%)	5mo	$79,777	$34	71
131 York St	0.56mi	5/3.0 (+1)	2,246 (-4%)	0mo	$156,000	$69	58
3-5 Ravenwood Ave	0.52mi	4/2.0	2,152 (-8%)	8mo	$210,000	$98	55
54 Turner St	0.67mi	4/2.0	2,472 (+6%)	6mo	$167,500	$68	54
22 Gardiner Ave	0.60mi	4/2.0	2,096 (-10%)	4mo	$100,000	$48	52
30 Woodbine Ave	0.27mi	3/2.0 (-1)	2,000 (-14%)	8mo	$140,000	$70	52
127-129 Thorndale Ter	0.35mi	5/2.0 (+1)	2,147 (-8%)	17mo	$161,000	$75	50
122-124 Shelter St #2	0.56mi	5/2.0 (+1)	2,640 (+13%)	2mo	$85,000	$32	45
367 Troup St	0.61mi	3/3.0 (-1)	2,000 (-14%)	17mo	$55,000	$28	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: 12.2%
• Equity multiple: 1.51×
• Total profit: $19,834
• Equity at exit: $21,303

10-year hold

• IRR: 23.5%
• Equity multiple: 3.35×
• Total profit: $92,263
• Equity at exit: $12,841

Cash invested: $39,200 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,873 high
• Mortgage (P&I): −$734
• Tax from tax record: −$129 /mo · $1,544/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $558

Break-even live

Break-even rent $1,166

Max offer price $140,000

Occupancy floor 65%

Sensitivity live

Price	-10% $637	-5% $598	+0% $558	+5% $519	+10% $479
Rent	-10% $410	-5% $484	+0% $558	+5% $632	+10% $706
Rate	-1.0pp $629	-0.5pp $594	base $558	+0.5pp $522	+1.0pp $485

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
48 Thorndale Ter Rochester, NY	4.0	1.5	1700	$1,400	$0.82	16d	1	0.41mi
161 Fillmore St Rochester, NY	4.0	2.0	1612	$1,400	$0.87	16d	1	0.52mi
249 1/2 Columbia Ave #249 Rochester, NY	3.0	1.0	1600	$1,300	$0.81	16d	1	0.69mi
79 Evangeline St Rochester, NY	3.0	2.0	1876	$2,500	$1.33	4d	1	0.92mi
385 Ames St Rochester, NY	3.0	1.5	1738	$1,500	$0.86	23d	1	0.92mi
649 Jay St Rochester, NY	5.0	2.0	2144	$2,000	$0.93	4d	1	0.99mi
793 Woodbine Ave Rochester, NY	4.0	1.0	1700	$2,200	$1.29	4d	1	1.04mi
1317 Genesee St Rochester, NY	3.0	2.0	1720	$2,550	$1.48	4d	1	1.39mi

Listing history 9 events

1. 2026-05-13
   status Pending 977-char remark
2. 2026-05-06
   listed $140,000 Active 977-char remark
3. 2021-12-28
   soldstatus $150,000
4. 2021-12-21
   soldstatus $155,000 Closed Sale or Rented 631-char remark

   Show marketing remark (631 chars)

   Great investment opportunity in the heart of the 19th ward! Investor or owner occupant, add this charmer to your portfolio while it lasts! This 2 unit multi-family has been extensively updated top to bottom. New windows, refinished kitchens & baths, refinished flooring, fresh paint. New roof (2018). You will appreciate the beautiful hardwood floors and natural woodwork! Each unit has 2 spacious bedrooms 1 full bath. Month to month leases. Separate utilities. Downstairs apartment will be vacant upon closing. Upstairs apartment includes stackable washer & dryer in unit. Delayed negotiation until 10/24/21 at 12pm.

5. 2021-11-17
   status Pending Sale 631-char remark

   Show marketing remark (631 chars)

   Great investment opportunity in the heart of the 19th ward! Investor or owner occupant, add this charmer to your portfolio while it lasts! This 2 unit multi-family has been extensively updated top to bottom. New windows, refinished kitchens & baths, refinished flooring, fresh paint. New roof (2018). You will appreciate the beautiful hardwood floors and natural woodwork! Each unit has 2 spacious bedrooms 1 full bath. Month to month leases. Separate utilities. Downstairs apartment will be vacant upon closing. Upstairs apartment includes stackable washer & dryer in unit. Delayed negotiation until 10/24/21 at 12pm.

6. 2021-10-28
   status Under Contract- Do Not Show 631-char remark

   Show marketing remark (631 chars)

   Great investment opportunity in the heart of the 19th ward! Investor or owner occupant, add this charmer to your portfolio while it lasts! This 2 unit multi-family has been extensively updated top to bottom. New windows, refinished kitchens & baths, refinished flooring, fresh paint. New roof (2018). You will appreciate the beautiful hardwood floors and natural woodwork! Each unit has 2 spacious bedrooms 1 full bath. Month to month leases. Separate utilities. Downstairs apartment will be vacant upon closing. Upstairs apartment includes stackable washer & dryer in unit. Delayed negotiation until 10/24/21 at 12pm.

7. 2021-10-19
   listed $150,000 Active 631-char remark

   Show marketing remark (631 chars)

   Great investment opportunity in the heart of the 19th ward! Investor or owner occupant, add this charmer to your portfolio while it lasts! This 2 unit multi-family has been extensively updated top to bottom. New windows, refinished kitchens & baths, refinished flooring, fresh paint. New roof (2018). You will appreciate the beautiful hardwood floors and natural woodwork! Each unit has 2 spacious bedrooms 1 full bath. Month to month leases. Separate utilities. Downstairs apartment will be vacant upon closing. Upstairs apartment includes stackable washer & dryer in unit. Delayed negotiation until 10/24/21 at 12pm.

8. 2020-09-10
   soldstatus $80,000
9. 2003-05-28
   soldstatus $35,000

ⓘ 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: $1,544 · $129/mo
• Projected year-2 tax: $1,955 · $163/mo
• Expected delta: +$411/yr (+$34/mo · 26.6%)

ⓘ 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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,471
• − Mortgage interest: −$7,842
• − Property taxes: −$1,544
• − Insurance: −$700
• − Repairs & maintenance: −$1,798
• − Management: −$1,798
• − Depreciation: −$4,073
• Taxable income: $4,717
• Est. tax owed @ 24.0%: −$1,132
• After-tax cash flow: $5,567/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

+300.0% since first listed

9 events — show timeline

• 2026-05-13 Pending — UNYREIS
• 2026-05-06 Listed $140,000 UNYREIS
• 2021-12-28 Sold (Public Records) $150,000 Public Records
• 2021-12-21 Sold (MLS) $155,000 UNYREIS
• 2021-11-17 Pending — UNYREIS
• 2021-10-28 Pending — UNYREIS
• 2021-10-19 Listed $150,000 UNYREIS
• 2020-09-10 Sold (Public Records) $80,000 Public Records
• 2003-05-28 Sold (Public Records) $35,000 Public Records

Property tax history

-0.5%/yr

Latest (2025): $1,544 · -6.6% YoY. Source: county tax records.