401 W Elm St · East Rochester, NY 14445

$224,900

2 bd · 2.0 ba · 1,219 sqft · MultiFamily public records · 17 Days on market

Built 1930 4,792 sqft lot $184/sqft · at area comps Est $433k · 48% under

---

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 +18.0/30.0
• ARV discount +15.0/15.0
• 1% rule +7.0/10.0
• DSCR +5.6/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Sale includes two properties, one 2 family home & six office bldg. Great income + investment opportunities-Separate utilities+entrances-live free and make money or run your own business next door. Both properties have been updated-are in prime locations, unlimited uses, unique one of a kind property. Close to Expressway across from Piano Works Mall-Priced well-Must See! Taxes are for both properties.

Key facts

• 4,792 sq ft lot
• 2 parking spots
• Built 1930

Property features AI

Finance

• Financial info: Building contains 2 total units; 3 units in the community; Separate gas and electric meters for each unit (2 gas meters; 2 electric meters); Owner pays trash collection and water; Operating expenses include insurance, maintenance (structure and general), and water/sewer; Current rents shown by unit: approximately $800, $850, and $900 (individual unit leases/occupancies vary; some units leased or month-to-month)

Exterior

• Parking: Paved parking with two or more spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Existing construction
• Construction: Vinyl siding; Asphalt roof; Block foundation; Built (existing)
• Exterior features: Corner lot; Near public transit; Rectangular lot; Enclosed porch; Porch

Interior

• Kitchen: Some units feature an eat-in kitchen; Oven/Range; Refrigerator
• Bedrooms: Unit mix includes 1-bedroom units
• Flooring: Carpet; Luxury vinyl; Vinyl; Varies by unit
• Bathrooms: Two full bathrooms and one half bathroom in the building/units
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Enclosed porch; Porch; Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.5-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $192 ($2k/yr) — positive. Per door: $96/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $222k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 4.5% in East Rochester — 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 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.
• East Rochester Union Free School District (suburban): math 50% / reading 51% proficiency, ranked #371 of 590 in NY (top 63%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: East Rochester Elementary School (math 42% / reading 57%, grade D, #1,085 of 2,108 statewide, top 56%, 458 students, 48% FRL); East Rochester Junior-Senior High School (math 57% / reading 47%, grade D+, #946 of 1,100 statewide, top 88%, 515 students, 51% FRL).
• Market conditions: 34 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• This rent runs 44% of the median local income ($74k/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 $2k of loan paydown is wiped out by about $7k 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

• It's been on market 17 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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 $120k; list at $225k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $221,526 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.20% ✓
• Cap rate: 7.32%
• Cash-on-cash: 3.65%
• DSCR: 1.16
• GRM: 7.0

CMA / ARV

• ARV (median comp): $433,452
• List price: $224,900
• Delta: -48.11%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
507 S Washington St	0.16mi	2/2.0	1,272 (+4%)	23mo	$155,000	$122	66

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: -10.4%
• Equity multiple: 0.62×
• Total profit: $-23,959
• Equity at exit: $33,533

10-year hold

• IRR: -0.9%
• Equity multiple: 0.94×
• Total profit: $-4,030
• Equity at exit: $19,445

Cash invested: $62,972 (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 14445

• Home prices YoY: -9.5%
• Active inventory: 34
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $2,689 medium
• Mortgage (P&I): −$1,179
• Tax from tax record: −$659 /mo · $7,914/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$565
• Net cashflow: $192

Break-even live

Break-even rent $2,446

Max offer price $224,900

Occupancy floor 88%

Sensitivity live

Price	-10% $319	-5% $255	+0% $192	+5% $128	+10% $64
Rent	-10% $-21	-5% $86	+0% $192	+5% $298	+10% $404
Rate	-1.0pp $305	-0.5pp $249	base $192	+0.5pp $133	+1.0pp $74

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2.5	$2,688
Total (2 units)			$2,689

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
126 West Ave Unit UPPER East Rochester, NY	2.0	1.0	820	$1,500	$1.83	20d	1	0.43mi
108 W Filbert St Unit 2 East Rochester, NY	2.0	1.0	1100	$1,525	$1.39	4d	1	0.51mi
214 Magnolia Ave East Rochester, NY	3.0	1.0	1200	$1,600	$1.33	25d	1	0.57mi
218 1/2 Magnolia Ave East Rochester, NY	3.0	1.5	1200	$1,400	$1.17	45d	1	0.59mi
214 E Spruce St East Rochester, NY	3.0	1.0	972	$1,750	$1.80	45d	1	0.79mi
405 Garfield Ave East Rochester, NY	3.0	1.0	1228	$2,000	$1.63	4d	1	0.81mi
330 E Chestnut St East Rochester, NY	3.0	2.0	1200	$2,100	$1.75	12d	1	0.92mi
120 Brebeuf Dr Penfield, NY	2.0	1.0	763	$1,365	$1.79	4d	6	1.18mi
3540 East Ave Rochester, NY	1.0–2.0	1.0–2.5	1261	$4,123	$3.27	4d	10	1.26mi
278 Penn Ln Rochester, NY	2.0	2.0	1184	$2,100	$1.77	4d	1	1.46mi

Listing history 8 events

1. 2026-05-15
   status Pending 1039-char remark
2. 2026-05-06
   historical Active Under Contract 1039-char remark
3. 2026-04-28
   listed $224,900 Active 1039-char remark
4. 2013-02-25
   soldstatus $120,000 409-char remark

   Show marketing remark (409 chars)

   Sale includes two properties, one 2 family home & six office bldg. Great income + investment opportunities-Separate utilities+entrances-live free and make money or run your own business next door. Both properties have been updated-are in prime locations, unlimited uses, unique one of a kind property. Close to Expressway across from Piano Works Mall-Priced well-Must See! Taxes are for both properties.

5. 2013-02-21
   soldstatus $120,000
6. 2012-10-03
   listed $129,900 409-char remark

   Show marketing remark (409 chars)

   Sale includes two properties, one 2 family home & six office bldg. Great income + investment opportunities-Separate utilities+entrances-live free and make money or run your own business next door. Both properties have been updated-are in prime locations, unlimited uses, unique one of a kind property. Close to Expressway across from Piano Works Mall-Priced well-Must See! Taxes are for both properties.

7. 2012-06-07
   listed $134,900
8. 2002-01-08
   soldstatus $106,000

ⓘ 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: $7,914 · $659/mo
• Projected year-2 tax: $7,914 · $659/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 16 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: $32,268
• − Mortgage interest: −$12,598
• − Property taxes: −$7,914
• − Insurance: −$1,124
• − Repairs & maintenance: −$2,581
• − Management: −$2,581
• − Depreciation: −$6,543
• Taxable loss: −$1,074
• Est. tax savings @ 24.0%: +$258
• After-tax cash flow: $2,558/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: East Rochester Union Free School District
• NCES district ID: 3609930
• Math proficiency: 50% ▼ -16.00%
• Reading proficiency: 51% ▲ 5.00%
• Median HH income: $50,308
• Composite: 43.23/100
• National rank: #3058
• State rank: #371 of 590 in NY

Livability — East Rochester

• Score: 78/100
• State rank: #155
• US rank: #2400

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Rochester, NY
• County: Monroe County · 674,131 people
• City population: 7,529
• Metro: Rochester, NY
• Population (ZIP): 7,529
• Household income: $73,625
• Rent vs Own: 40.2% rent · 59.8% own
• Severe rent burden: 216.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Black 3% Two or more races 3%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 4% Portuguese 2% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1% Tagalog/Filipino 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: ▼ -28.80%
• Current HPI: 273.7033
• 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

+112.2% since first listed

8 events — show timeline

• 2026-05-15 Pending — UNYREIS
• 2026-05-06 Contingent — UNYREIS
• 2026-04-28 Listed $224,900 UNYREIS
• 2013-02-25 Sold (MLS) $120,000 UNYREIS
• 2013-02-21 Sold (Public Records) $120,000 Public Records
• 2012-10-03 Listed $129,900 UNYREIS
• 2012-06-07 Listed $134,900 UNYREIS
• 2002-01-08 Sold (Public Records) $106,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $7,914 · +0.9% YoY. Source: county tax records.