5692 Pittsford Palmyra Rd

East Rochester, NY 14534

$439,900F

3 bd · 2.0 ba · 4,375 sqft · Built 1870 · SingleFamily · Active · 108 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,122/mo
• Mortgage (P&I): −$2,307
• Tax + insurance: −$733
• HOA: −$0
• Vac / Maint / Mgmt: −$656
• Net cashflow: $-573/mo
• Annual: $-6,879/yr
• Cap rate: 4.73%
• Cash-on-cash: -5.59%
• DSCR: 0.75
• 1% rule: 0.71%
• Cash to close: $123,172

Investor read

• This is a 3-bed/2.0-bath single-family listed at $440k.
• At list price, monthly cash flow is $-573 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $357k (18.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $312k (29.0% below list).
• It's been on market 108 days — a 9% lower offer ($400k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $312k (29.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#155 in NY, #2,400 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: employment D+, crime D.
• Pittsford Central School District (suburban): math 80% / reading 84% proficiency, ranked #34 of 590 in NY (top 6%) — strong family-tenant draw, lease renewals of 3-5y typical; only 2% free/reduced lunch — higher-income household profile.
• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 186 active listings in the ZIP; high-income renter base; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• Monroe County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts 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.

Questions for listing agent

• 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?
• It's been on market 108 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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?
• 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?
• 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?