23 N Main St · Brockport, NY 14420

$474,900

28 bd · 20.0 ba · 4,460 sqft · MultiFamily public records · 16 Days on market

Built 1900 7,841 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Positive cash flow opportunity! All separate utilities and fully rented. C of O supplied. New water main installed 1012 from house to Street. Loads of parking and close to everything.

Key facts

• Metal roof
• Electrical panels
• Vinyl siding

Tags

• 4 UNIT MULTIFAMILY PROPERTY
• ON SITE COIN OPERATED LAUNDRY
• BASEMENT STORAGE FOR TENANTS
• VINYL SIDING
• METAL ROOF
• ELECTRICAL PANELS

Property features AI

Finance

• Financial info: Four total units with separate gas and electric meters for each unit; Operating expenses include structure maintenance, trash, and water; Owner pays grounds care, trash collection, and water; Current unit rents reported (examples): $830, $895, $940, $1,200

Exterior

• Parking: On-site parking available (one space)
• Utilities: High-speed internet available; Public water connected; Sewer connected; Circuit breaker electrical
• Home design: Two-story multi-family building; Resale property
• Construction: Metal roof; Vinyl siding
• Exterior features: Open porch

Interior

• Kitchen: Each unit includes oven/range and refrigerator
• Bedrooms: Four residential units (three 2-bed units and one 1-bed unit)
• Flooring: Carpet; Laminate; Vinyl; Varied flooring types
• Bathrooms: Five full bathrooms total across the building
• Heating & cooling: Gas forced-air heating
• Interior features: Ceiling fans; Storage space; Natural woodwork; Thermal windows
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4 × 7-bed/5.0-bath units multifamily listed at $475k.

Deal economics

• At list price, monthly cash flow is $3k ($38k/yr) — positive. Per door: $788/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $475k).
• Recommended offer: $468k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 5.1% in Brockport — 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 73/100 on livability (#313 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: employment D+, crime F, amenities F.
• Brockport Central School District (town): math 45% / reading 55% proficiency, ranked #369 of 590 in NY (top 62%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.7%/yr); 79 active listings in the ZIP; solid renter incomes; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $8,274/mo this rent would consume 131% of the median local household income ($76k/yr) (locally 472% 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 $3k of loan paydown is wiped out by about $14k 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 + 2.7% rent growth), your $133k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($468k) is reasonable based on typical stale-listing flexibility.
• 2 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 $164k; list at $475k implies a 190% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $467,776 (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 1900 — 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 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?
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: 1.74% ✓
• Cap rate: 14.26%
• Cash-on-cash: 28.44%
• DSCR: 2.27
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.72% rent growth · sell at horizon

5-year hold

• IRR: 22.4%
• Equity multiple: 1.91×
• Total profit: $121,646
• Equity at exit: $70,809

10-year hold

• IRR: 30.2%
• Equity multiple: 3.67×
• Total profit: $355,687
• Equity at exit: $41,061

Cash invested: $132,972 (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 14420

• Home prices YoY: -10.6%
• Rents YoY: 2.7%
• Active inventory: 79
• Price-to-rent: 19.1×

Monthly cashflow live

• Estimated rent: $8,274 medium
• Mortgage (P&I): −$2,490
• Tax from tax record: −$696 /mo · $8,357/yr
• Insurance: −$198
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,738
• Net cashflow: $3,152

Break-even live

Break-even rent $4,284

Max offer price $474,900

Occupancy floor 57%

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

Units	Beds	Baths	Est. rent
▸ 4× units	7	5	$8,276
Total (4 units)			$8,274

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: $118,725
• Closing costs: $14,247
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $474,900 Active 16 DOM
2. 2026-06-17
   days on market $474,900 Active 15 DOM
3. 2026-06-16
   days on market $474,900 Active 14 DOM
4. 2026-06-15
   days on market $474,900 Active 13 DOM
5. 2026-06-13
   days on market $474,900 Active 11 DOM
6. 2026-06-13
   days on market $474,900 Active 10 DOM
7. 2026-06-10
   days on market $474,900 Active 8 DOM
8. 2026-06-09
   days on market $474,900 Active 7 DOM
9. 2026-06-08
   days on market $474,900 Active 6 DOM
10. 2026-06-07
    days on market $474,900 Active 5 DOM
11. 2026-06-03
    remarks 699-char remark
12. 2026-06-03
    listed $474,900 Active 1 DOM

ⓘ 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: $8,357 · $696/mo
• Projected year-2 tax: $8,357 · $696/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $99,288
• − Mortgage interest: −$26,602
• − Property taxes: −$8,357
• − Insurance: −$2,374
• − Repairs & maintenance: −$7,943
• − Management: −$7,943
• − Depreciation: −$13,815
• Taxable income: $32,253
• Est. tax owed @ 24.0%: −$7,741
• After-tax cash flow: $30,080/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: Brockport Central School District
• NCES district ID: 3605580
• Math proficiency: 45% ▼ -14.00%
• Reading proficiency: 55% ▲ 1.00%
• Median HH income: $55,571
• Composite: 43.28/100
• National rank: #3044
• State rank: #369 of 590 in NY

Livability — Brockport

• Score: 73/100
• State rank: #313
• US rank: #5216

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brockport, NY
• County: Monroe County · 674,131 people
• City population: 20,375
• Metro: Rochester, NY
• Population (ZIP): 20,375
• Household income: $75,577
• Rent vs Own: 37.1% rent · 62.9% own
• Severe rent burden: 472.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 7% Black 5% Two or more races 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 2%
• Foreign-born: 5% · Canada, China, South Korea
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -31.08%
• Current HPI: 261.3695
• Rent YoY: ▲ 2.72%
• 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

+407.9% since first listed

5 events — show timeline

• 2026-06-02 Listed $474,900 UNYREIS
• 2013-06-14 Sold (MLS) $164,000 UNYREIS
• 2013-06-07 Sold (Public Records) $164,000 Public Records
• 2013-03-22 Listed $169,900 UNYREIS
• 2006-07-19 Sold (Public Records) $93,500 Public Records

Property tax history

-0.3%/yr

Latest (2025): $8,357 · +0.5% YoY. Source: county tax records.