148 Lexington Ave · Rochester, NY 14613

$62,200

3 bd · 1.0 ba · 1,148 sqft · SingleFamily public records · 13 Days on market

Built 1880 2,768 sqft lot $54/sqft · 26% below area Est $84k · 26% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.2/10.0
• Schools +1.9/10.0

Listing remarks MLS

This property is being offered strictly "as-is" The Seller will not provide a Certificate of Occupancy, nor will they perform any repairs or offer credits towards repairs or closing costs. This is an opportunity for an investor or savvy buyer looking for a project property. Buyers are encouraged to perform their own due diligence, but note that the seller is firm on the "as-is" conditions. Cash or renovation financing is likely required.

Key facts

• 2,768 sq ft lot
• Garage
• Built 1880

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $62k.

Deal economics

• At list price, monthly cash flow is $675 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• Cap rate 19.3% vs local median 9.3% in 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 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: schools D+, 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.
• Market conditions: 71 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $430 of loan paydown is wiped out by about $2k 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 (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 13y 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 $20k; list at $62k implies a 211% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $62,200

Questions for the listing agent

1. Built in 1880 — 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 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: 2.21% ✓
• Cap rate: 19.32%
• Cash-on-cash: 46.51%
• DSCR: 3.07
• GRM: 3.8

CMA / ARV

• ARV (median comp): $83,925
• List price: $62,200
• Delta: -25.89%
• 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
121 Glendale Park	0.42mi	3/1.0	1,164 (+1%)	8mo	$65,000	$56	71
27 Leavenworth St	0.25mi	2/1.0 (-1)	1,233 (+7%)	2mo	$72,000	$58	70
81 Dorbeth	0.58mi	3/1.0	1,180 (+3%)	5mo	$122,200	$104	64
67 Locust St	0.40mi	3/1.5	1,243 (+8%)	7mo	$120,000	$97	60
12 Oriole St	0.48mi	3/1.0	1,040 (-9%)	3mo	$115,000	$111	59
127 Conkey Ave	0.72mi	3/1.0	1,108 (-4%)	9mo	$37,000	$33	53
66 Harris St	0.60mi	2/1.0 (-1)	1,208 (+5%)	8mo	$65,000	$54	51
32 Michigan St	0.61mi	4/1.5 (+1)	1,081 (-6%)	5mo	$96,000	$89	50
42 Curtis St	0.59mi	3/1.5	1,287 (+12%)	4mo	$85,000	$66	47
60 Starling St	0.59mi	2/1.0 (-1)	1,034 (-10%)	5mo	$135,000	$131	47
225 Bryan St	0.61mi	3/1.0	1,315 (+14%)	3mo	$92,000	$70	45
128 Clifford Ave	0.72mi	3/1.0	1,319 (+15%)	2mo	$90,000	$68	40

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: 43.8%
• Equity multiple: 2.89×
• Total profit: $32,923
• Equity at exit: $9,274

10-year hold

• IRR: 49.8%
• Equity multiple: 5.83×
• Total profit: $84,067
• Equity at exit: $5,378

Cash invested: $17,416 (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 14613

• Home prices YoY: -2.0%
• Active inventory: 71
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,376 high
• Mortgage (P&I): −$326
• Tax from tax record: −$60 /mo · $714/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $675

Break-even live

Break-even rent $521

Max offer price $62,200

Occupancy floor 46%

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: $15,550
• Closing costs: $1,866
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
254 Lexington Ave Rochester, NY	3.0	1.0	950	$1,350	$1.42	2d	1	0.17mi
265 Driving Park Ave Unit 31 Rochester, NY	2.0	1.0	810	$1,250	$1.54	43d	1	0.21mi
1016 Lake Ave Unit 1 Rochester, NY	3.0	1.0	1300	$1,600	$1.23	43d	1	0.30mi
28-30 Carthage Dr Unit 28 Rochester, NY	3.0	1.0	1415	$1,600	$1.13	23d	1	0.35mi
84 Twin Beeches Rochester, NY	2.0	1.5	1096	$1,250	$1.14	23d	1	0.52mi
1097 Dewey Ave Unit B Rochester, NY	2.0	1.0	1008	$1,150	$1.14	14d	1	0.52mi
89 Twin Beeches Rochester, NY	2.0	1.5	1096	$1,250	$1.14	43d	1	0.53mi
76 Avenue A Unit Up Rochester, NY	3.0	1.0	796	$1,700	$2.14	43d	1	0.54mi
45 Clay Ave Rochester, NY	3.0	1.0	1000	$1,700	$1.70	14d	1	0.79mi
52 Lorimer St Unit 03 UP Rear Rochester, NY	2.0	1.0	700	$1,000	$1.43	23d	1	0.82mi
25 Karnes St Rochester, NY	2.0	1.0	1059	$1,250	$1.18	21d	1	0.85mi
287 Electric Ave Rochester, NY	3.0	1.5	1297	$1,500	$1.16	2d	1	0.87mi
248 Flower City Park Rochester, NY	3.0	1.0	1350	$1,800	$1.33	3d	1	0.90mi
116 Ridgeway Ave Rochester, NY	3.0	2.0	1032	$1,650	$1.60	2d	1	0.97mi
85 Cameron St Unit B Rochester, NY	3.0	1.0	1138	$1,650	$1.45	43d	1	0.99mi
69 Angle St Rochester, NY	2.0	1.0	1500	$1,500	$1.00	14d	1	1.00mi
493 Hollenbeck St Rochester, NY	2.0	1.5	936	$1,275	$1.36	14d	1	1.01mi
39 Parkway Apt 1 Rochester, NY	2.0	1.0	700	$950	$1.36	43d	1	1.01mi
230 Pullman Ave Unit 1 Rochester, NY	2.0	1.0	900	$1,100	$1.22	14d	1	1.14mi
2 Jay St Unit 2 Rochester, NY	3.0	1.0	1252	$1,045	$0.83	43d	1	1.29mi
658 Smith St Rochester, NY	2.0	1.0	981	$1,500	$1.53	3d	1	1.33mi
11 Maria St Unit 1 DN Rochester, NY	2.0	1.0	800	$895	$1.12	43d	1	1.42mi
710-712 Jay St Unit 3 Rochester, NY	2.0	1.0	1252	$895	$0.71	43d	1	1.45mi
629 Jay St Rochester, NY	3.0	1.0	1193	$1,250	$1.05	18d	1	1.45mi

Listing history 9 events

1. 2026-05-06
   status Pending 461-char remark

   Show marketing remark (461 chars)

   This property is being offered strictly "as-is" The Seller will not provide a Certificate of Occupancy, nor will they perform any repairs or offer credits towards repairs or closing costs. This is an opportunity for an investor or savvy buyer looking for a project property. Buyers are encouraged to perform their own due diligence, but note that the seller is firm on the "as-is" conditions. Cash or renovation financing is likely required.

2. 2026-04-22
   listed $62,200 Active 461-char remark

   Show marketing remark (461 chars)

   This property is being offered strictly "as-is" The Seller will not provide a Certificate of Occupancy, nor will they perform any repairs or offer credits towards repairs or closing costs. This is an opportunity for an investor or savvy buyer looking for a project property. Buyers are encouraged to perform their own due diligence, but note that the seller is firm on the "as-is" conditions. Cash or renovation financing is likely required.

3. 2024-05-23
   status Pending
4. 2024-03-11
   price $60,000
5. 2024-02-08
   listed $65,000 Active
6. 2022-12-10
   historical
7. 2015-01-19
   soldstatus $20,000
8. 2014-08-08
   listed $24,900
9. 2013-10-25
   listed $29,500

ⓘ 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: $714 · $60/mo
• Projected year-2 tax: $883 · $74/mo
• Expected delta: +$168/yr (+$14/mo · 23.6%)

ⓘ 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 ≥95°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: $16,506
• − Mortgage interest: −$3,484
• − Property taxes: −$714
• − Insurance: −$311
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$1,809
• Taxable income: $7,546
• Est. tax owed @ 24.0%: −$1,811
• After-tax cash flow: $6,289/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
• City population: 432,803
• Population (ZIP): 14,740

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Black 45% White 22% Hispanic / Latino 20% Two or more races 10% Asian 8% Pacific Islander 1%
• Hispanic origin (detail): Puerto Rican 16% Dominican 3%
• Common ancestry: British 2% Serbian 1% Romanian 1%
• Foreign-born: 13% · Canada, India, Philippines
• Languages at home: 79% English-only · Spanish 12% Other Asian/Pacific 5% Other Indo-European 3%

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: ▼ -5.56%
• Current HPI: 274.2485
• 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

+110.8% since first listed

9 events — show timeline

• 2026-05-06 Pending — UNYREIS
• 2026-04-22 Listed $62,200 UNYREIS
• 2024-05-23 Pending — UNYREIS
• 2024-03-11 Price Changed $60,000 UNYREIS
• 2024-02-08 Listed $65,000 UNYREIS
• 2022-12-10 Rental Removed — RENT.
• 2015-01-19 Sold (MLS) $20,000 UNYREIS
• 2014-08-08 Listed $24,900 UNYREIS
• 2013-10-25 Listed $29,500 UNYREIS

Property tax history

+3.9%/yr

Latest (2025): $714 · +0.0% YoY. Source: county tax records.