37 Hallenbeck Ave · Geneva, NY 14456

$124,999

2 bd · 2.0 ba · 1,668 sqft · MultiFamily public records · 22 Days on market

Built 1880 5,227 sqft lot $75/sqft · 44% below area Est $222k · 44% 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 +3.9/5.0
• Schools +3.3/10.0
• 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

Located on the north side of Geneva, this two-unit property offers a great opportunity for both investors and owner-occupants. Each unit features 1 bedroom, with the upper unit offering additional space that could potentially be used as a second bedroom, office, or flex space. The property is in livable condition with room to make improvements and build equity over time. Whether you’re looking to expand your investment portfolio or offset your mortgage with rental income, this duplex offers flexibility and long-term potential. Conveniently located near downtown, shopping, restaurants, and local amenities. A solid opportunity with upside for the right buyer.

Key facts

• Two unit property
• Livable condition
• Flex space

Tags

• TWO UNIT PROPERTY
• UPPER UNIT
• FLEX SPACE
• LIVABLE CONDITION
• RENTAL INCOME
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Two units with identical layouts: each has 1 bedroom, 1 bathroom, living room, porch, and rents shown at $1,100
• Financial info: Property configured as a 2-unit multifamily; Separate electric meters for each unit; One shared gas meter; Operating expenses include electric, fuel, and professional management; Owner pays electricity, heat, hot water and water; rent is shown to include those utilities

Exterior

• Parking: Detached 1-car garage; One additional parking space
• Utilities: Public water connected; Sewer connected; Circuit breaker electrical; Cable available; High-speed internet available
• Home design: 2-story building; Resale property
• Construction: Brick construction; Asphalt roof; Stone foundation; Existing (pre-owned) structure
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 50 x 110

Interior

• Kitchen: Each unit includes oven/range and refrigerator; Eat-in kitchen in each unit
• Bedrooms: Two 1-bedroom units
• Flooring: Laminate; Linoleum; Vinyl; Varies
• Bathrooms: Each unit has 1 full bathroom (2 full bathrooms total)
• Heating & cooling: Gas heating; Hot water heating
• Interior features: Natural woodwork; Basement (full)
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1.0-bath units multifamily listed at $125k.

Deal economics

• At list price, monthly cash flow is $943 ($11k/yr) — positive. Per door: $472/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.3% vs local median 5.0% in Geneva — 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 (#177 in NY, #2,760 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, employment D, amenities F.
• Geneva City School District (town): math 36% / reading 43% proficiency, ranked #528 of 590 in NY (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Street Elementary School (math 28% / reading 35%, grade F, #1,679 of 2,108 statewide, top 80%, 595 students, 75% FRL); Geneva Middle School (math 21% / reading 42%, grade F, #522 of 729 statewide, top 73%, 452 students, 68% FRL); Geneva High School (math 92% / reading 98%, grade A+, #93 of 1,100 statewide, top 10%, 613 students, 63% FRL) — zoned schools average 69% FRL vs 51% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 53% at this address vs 40% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Geneva City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 124 active listings in the ZIP; 284 units permitted in Ontario County in 2024 (69 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Ontario 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 $35k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $45k; list at $125k implies a 178% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,124 (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 1880 — 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 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?
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: 2.04% ✓
• Cap rate: 15.35%
• Cash-on-cash: 32.34%
• DSCR: 2.44
• GRM: 4.1

CMA / ARV

• ARV (median comp): $222,464
• List price: $124,999
• Delta: -43.81%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.5%
• Equity multiple: 2.14×
• Total profit: $39,990
• Equity at exit: $18,638

10-year hold

• IRR: 35.0%
• Equity multiple: 4.22×
• Total profit: $112,852
• Equity at exit: $10,808

Cash invested: $35,000 (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 14456

• Home prices YoY: -15.8%
• Active inventory: 124
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,546 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$360 /mo · $4,325/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $943

Break-even live

Break-even rent $1,352

Max offer price $124,999

Occupancy floor 58%

Sensitivity live

Price	-10% $1,014	-5% $979	+0% $943	+5% $908	+10% $873
Rent	-10% $742	-5% $843	+0% $943	+5% $1,044	+10% $1,144
Rate	-1.0pp $1,006	-0.5pp $975	base $943	+0.5pp $911	+1.0pp $878

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,546
Total (2 units)			$2,546

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-07
   statusdays on market $124,999 Pending 22 DOM
2. 2026-06-04
   days on market $124,999 Active 19 DOM
3. 2026-06-02
   days on market $124,999 Active 18 DOM
4. 2026-06-01
   days on market $124,999 Active 17 DOM
5. 2026-05-31
   days on market $124,999 Active 16 DOM
6. 2026-05-15
   listed $124,999 Active 671-char remark
7. 2017-12-04
   soldstatus $45,000

ⓘ 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: $4,325 · $360/mo
• Projected year-2 tax: $4,325 · $360/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,552
• − Mortgage interest: −$7,002
• − Property taxes: −$4,325
• − Insurance: −$625
• − Repairs & maintenance: −$2,444
• − Management: −$2,444
• − Depreciation: −$3,636
• Taxable income: $10,075
• Est. tax owed @ 24.0%: −$2,418
• After-tax cash flow: $8,902/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: Geneva City School District
• NCES district ID: 3611970
• Math proficiency: 36% ▲ 3.00%
• Reading proficiency: 43% ▲ 11.00%
• Median HH income: $44,012
• Composite: 33.48/100
• National rank: #5448
• State rank: #528 of 590 in NY

Livability — Geneva

• Score: 78/100
• State rank: #177
• US rank: #2760

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Geneva, NY
• Population (ZIP): 19,864

Population outlook (Ontario County) Hauer SSP2

• Today (2025): 111,230 people
• By 2030: 111,401 · +0.2%
• By 2040: 109,535 · -1.5%
• By 2050: 104,895 · -5.7%
• By 2075: 92,999 · -16.4%
• By 2100: 73,723 · -33.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 13% Two or more races 7% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9%
• Common ancestry: Iranian 5% Slovak 3% Italian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 2% German/W. Germanic 1%

Political lean MEDSL · Ontario

• 2024 margin: Toss-up / Even · D 49.4% · R 50.6%
• 2008→2024 swing: -1.0pp toward R · 2008: -0.1pp · 2024: -1.2pp
• All cycles: 2024: R+1.2 2020: R+0.0 2016: R+8.6 2012: R+1.6 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -57.56%
• Current HPI: 307.9168
• 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

+177.8% since first listed

3 events — show timeline

• 2026-06-06 Pending — UNYREIS
• 2026-05-15 Listed $124,999 UNYREIS
• 2017-12-04 Sold (Public Records) $45,000 Public Records

Property tax history

+12.3%/yr

Latest (2025): $4,325 · -7.2% YoY. Source: county tax records.