1873 E Main St · Rochester, NY 14609

$339,900

9 bd · 3.9 ba · 5,727 sqft · MultiFamily · 29 Days on market

Built 1910 Good condition 5,880 sqft lot $59/sqft · 24% below area Est $446k · 24% 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
• Rent growth +4.5/5.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Spacious four-unit investment property full of charm and character, featuring beautiful original gumwood trim and hardwood floors throughout. Each unit offers a welcoming front porch off the living room, adding to the property’s appeal and livability. The property includes a large, fully fenced backyard—perfect for outdoor enjoyment—as well as convenient off-street parking. Several units have been updated with remodeled kitchens and bathrooms, providing a great blend of classic details and modern improvements. Utilities are structured for strong investment potential, with tenants responsible for hot water, cooking gas, and electric, while the owner maintains heat via a boiler system. Current rental income includes: Unit 1: Vacant (recently turned over; make-ready in progress). Previous rent: $1,200/month Unit 2: $1,200/month Unit 3: $1,060/month (long-term tenant) Unit 4: $1,200/month Certificate of Occupancy valid through November 21, 2028. Please allow 48 hours’ notice for showings (business days) to accommodate tenants.

Key facts

• Remodeled kitchens
• Off-street parking
• Hardwood floors

Tags

• ORIGINAL GUMWOOD TRIM
• HARDWOOD FLOORS
• WELCOMING FRONT PORCH
• FULLY FENCED BACKYARD
• OFF-STREET PARKING
• REMODELED KITCHENS

🏷️ Possibly a rental listed for sale. The $339,900 price doesn't fit this home's estimated sale value (~$446,398) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $340k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $793/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $340k).
• Recommended offer: $335k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.7% 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: Rents rising fast (+7.9%/yr); 199 active listings in the ZIP; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $5,986/mo this rent would consume 111% of the median local household income ($65k/yr) (locally 2183% 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 (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 + 7.9% rent growth), your $95k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($335k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y 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 $230k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $334,801 (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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.76% ✓
• Cap rate: 14.70%
• Cash-on-cash: 30.01%
• DSCR: 2.34
• GRM: 4.7

CMA / ARV

• ARV (median comp): $446,398
• List price: $339,900
• Delta: -23.86%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
367-371 Parsells Ave #367	0.56mi	10/4.0 (+1)	5,458 (-5%)	16mo	$200,000	$37	47
376 Hazelwood	0.60mi	10/4.0 (+1)	5,040 (-12%)	8mo	$366,000	$73	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 · 7.89% rent growth · sell at horizon

5-year hold

• IRR: 30.0%
• Equity multiple: 2.34×
• Total profit: $127,499
• Equity at exit: $50,680

10-year hold

• IRR: 40.0%
• Equity multiple: 5.70×
• Total profit: $446,911
• Equity at exit: $29,388

Cash invested: $95,172 (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 14609

• Home prices YoY: -30.4%
• Rents YoY: 7.9%
• Active inventory: 199
• Price-to-rent: 14.2×

Monthly cashflow live

• Estimated rent: $5,986 high
• Mortgage (P&I): −$1,782
• Tax est. 1.5%: −$425 /mo · $5,098/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,257
• Net cashflow: $2,380

Break-even live

Break-even rent $2,973

Max offer price $339,900

Occupancy floor 55%

Sensitivity live

Price	-10% $2,615	-5% $2,497	+0% $2,380	+5% $2,263	+10% $2,145
Rent	-10% $1,907	-5% $2,144	+0% $2,380	+5% $2,616	+10% $2,853
Rate	-1.0pp $2,551	-0.5pp $2,466	base $2,380	+0.5pp $2,292	+1.0pp $2,202

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$5,985
Total (3 units)			$5,986

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: $84,975
• Closing costs: $10,197
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-05-13
   status Pending 1074-char remark

   Show marketing remark (1074 chars)

   Spacious four-unit investment property full of charm and character, featuring beautiful original gumwood trim and hardwood floors throughout. Each unit offers a welcoming front porch off the living room, adding to the property’s appeal and livability. The property includes a large, fully fenced backyard—perfect for outdoor enjoyment—as well as convenient off-street parking. Several units have been updated with remodeled kitchens and bathrooms, providing a great blend of classic details and modern improvements. Utilities are structured for strong investment potential, with tenants responsible for hot water, cooking gas, and electric, while the owner maintains heat via a boiler system. Current rental income includes: Unit 1: Vacant (recently turned over; make-ready in progress). Previous rent: $1,200/month Unit 2: $1,200/month Unit 3: $1,060/month (long-term tenant) Unit 4: $1,200/month Certificate of Occupancy valid through November 21, 2028. Please allow 48 hours’ notice for showings (business days) to accommodate tenants.

2. 2026-04-30
   price $339,900 1074-char remark

   Show marketing remark (1074 chars)

   Spacious four-unit investment property full of charm and character, featuring beautiful original gumwood trim and hardwood floors throughout. Each unit offers a welcoming front porch off the living room, adding to the property’s appeal and livability. The property includes a large, fully fenced backyard—perfect for outdoor enjoyment—as well as convenient off-street parking. Several units have been updated with remodeled kitchens and bathrooms, providing a great blend of classic details and modern improvements. Utilities are structured for strong investment potential, with tenants responsible for hot water, cooking gas, and electric, while the owner maintains heat via a boiler system. Current rental income includes: Unit 1: Vacant (recently turned over; make-ready in progress). Previous rent: $1,200/month Unit 2: $1,200/month Unit 3: $1,060/month (long-term tenant) Unit 4: $1,200/month Certificate of Occupancy valid through November 21, 2028. Please allow 48 hours’ notice for showings (business days) to accommodate tenants.

3. 2026-04-14
   listed $349,900 Active 1074-char remark

   Show marketing remark (1074 chars)

   Spacious four-unit investment property full of charm and character, featuring beautiful original gumwood trim and hardwood floors throughout. Each unit offers a welcoming front porch off the living room, adding to the property’s appeal and livability. The property includes a large, fully fenced backyard—perfect for outdoor enjoyment—as well as convenient off-street parking. Several units have been updated with remodeled kitchens and bathrooms, providing a great blend of classic details and modern improvements. Utilities are structured for strong investment potential, with tenants responsible for hot water, cooking gas, and electric, while the owner maintains heat via a boiler system. Current rental income includes: Unit 1: Vacant (recently turned over; make-ready in progress). Previous rent: $1,200/month Unit 2: $1,200/month Unit 3: $1,060/month (long-term tenant) Unit 4: $1,200/month Certificate of Occupancy valid through November 21, 2028. Please allow 48 hours’ notice for showings (business days) to accommodate tenants.

4. 2022-11-17
   historical
5. 2022-10-17
   listed $1,200 Active
6. 2021-07-06
   soldstatus $230,000 Closed Sale or Rented
7. 2021-02-17
   status Under Contract- Do Not Show
8. 2021-02-11
   listed $180,000 Active
9. 2016-06-15
   soldstatus $155,000 Closed Sale or Rented
10. 2015-11-03
    status Pending Sale
11. 2015-11-03
    listed $160,000 Active
12. 2015-10-17
    historical
13. 2015-10-01
    soldstatus $55,000
14. 2015-08-27
    listed $60,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥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: $71,832
• − Mortgage interest: −$19,040
• − Property taxes: −$5,098
• − Insurance: −$1,700
• − Repairs & maintenance: −$5,747
• − Management: −$5,747
• − Depreciation: −$9,888
• Taxable income: $24,613
• Est. tax owed @ 24.0%: −$5,907
• After-tax cash flow: $22,652/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.

Condition & rehab AI · 1 photo

Good 75/100 Cosmetic rehab

This multi-family property is in good condition with updated kitchens and bathrooms, and a well-maintained exterior. Minor improvements to the exterior and landscaping would further enhance its value.

Value-add opportunities

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics.
• Both Replace front porch railings — Worn railings can be a safety hazard and detract from the property's appeal.
• Both Upgrade HVAC system — Modern HVAC can improve comfort and energy efficiency, attracting more tenants and buyers.
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value.
• Both Replace worn flooring — Fresh flooring can improve the living experience and attract more tenants and buyers.Original hardwoods are in good condition, so this is not a priority.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Replace front porch railings — Worn railings can be a safety hazard and detract from the property's appeal. ↑
• Both Upgrade HVAC system — Modern HVAC can improve comfort and energy efficiency, attracting more tenants and buyers. ↑
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value. ↑
• Both Replace worn flooring — Fresh flooring can improve the living experience and attract more tenants and buyers.Original hardwoods are in good condition, so this is not a priority. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 40,274
• Household income: $64,603
• Rent vs Own: 36.1% rent · 63.9% own
• Severe rent burden: 2183.0

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 0.69)
• Race & ethnicity: White 44% Black 28% Hispanic / Latino 20% Two or more races 10% Asian 2%
• Hispanic origin (detail): Puerto Rican 15% Cuban 1% Dominican 1%
• Common ancestry: Romanian 4% Lithuanian 2% Iranian 1%
• Foreign-born: 8% · Canada
• Languages at home: 81% English-only · Spanish 14% 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: ▼ -143.57%
• Current HPI: 328.7053
• Rent YoY: ▲ 7.89%
• 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

+466.5% since first listed

14 events — show timeline

• 2026-05-13 Pending — UNYREIS
• 2026-04-30 Price Changed $339,900 UNYREIS
• 2026-04-14 Listed $349,900 UNYREIS
• 2022-11-17 Listing Removed — UNYREIS
• 2022-10-17 Listed $1,200 UNYREIS
• 2021-07-06 Sold (MLS) $230,000 UNYREIS
• 2021-02-17 Pending — UNYREIS
• 2021-02-11 Listed $180,000 UNYREIS
• 2016-06-15 Sold (MLS) $155,000 UNYREIS
• 2015-11-03 Pending — UNYREIS
• 2015-11-03 Listed $160,000 UNYREIS
• 2015-10-17 Listing Removed — UNYREIS
• 2015-10-01 Sold (MLS) $55,000 UNYREIS
• 2015-08-27 Listed $60,000 UNYREIS