321 Frost Ave · Rochester, NY 14608

$7,999

4 bd · 2.0 ba · 2,049 sqft · Land · 181 Days on market

Built 1920 4,160 sqft lot $4/sqft · 88% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +6.8/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks MLS

Opportunity knocks with this shovel-ready, cleared duplex lot at 321 Frost Ave, Rochester, NY 14608. Formerly home to a 2,049 sq ft duplex, the structure has already been removed—saving you time and the expense of demolition/clearing. This clear, level parcel spans approximately 0.0095 acres (about 4,160 sq ft) and is ready for your next project. Located in a convenient city setting just two blocks from Rochester Early College International High School and roughly half a mile from the University of Rochester, the property offers strong proximity to schools, employers, and amenities. Bonus: dual access from Frost Ave and Whittlessey St adds flexibility for planning and site logistics. Zoned 12, this lot supports multiple potential exit strategies—build new and sell, develop as a rental/income-producing multi-unit, place a modular home for a cost-effective build, or hold for future development. With its cleared condition and build-ready footprint, it’s also a practical option for placing an RV (buyer to verify intended use with the municipality). Bring your builder, your vision, and your next plan—this one is ready to go.

Key facts

• Zoned 12
• Level parcel
• Cleared duplex lot

Tags

• CLEARED DUPLEX LOT
• LEVEL PARCEL
• STRONG PROXIMITY TO SCHOOLS
• ZONED 12

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $8k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $8k).
• Recommended offer: $7k (12.0% below list) — sets the bar for market timing.
• Cap rate 209.8% 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 (+6.6%/yr); 51 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $1,779/mo this rent would consume 53% of the median local household income ($41k/yr) (locally 1300% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $350 of equity ($55 loan paydown + $295 appreciation (3.7% local appreciation)).
• Monroe County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.7% appreciation + 6.6% rent growth), your $2k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($7k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $2k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $7,039 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 22.24% ✓
• Cap rate: 209.79%
• Cash-on-cash: 726.76%
• DSCR: 33.34
• GRM: 0.4

CMA / ARV

• ARV (median comp): $67,720
• List price: $7,999
• Delta: -88.19%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

3.69% appreciation · 6.61% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 43.14×
• Total profit: $94,372
• Equity at exit: $3,912

10-year hold

• IRR: —
• Equity multiple: 101.97×
• Total profit: $226,150
• Equity at exit: $6,286

Cash invested: $2,240 (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 14608

• Home prices YoY: 1.3%
• Rents YoY: 6.6%
• Active inventory: 51
• Price-to-rent: 0.4×

Monthly cashflow live

• Estimated rent: $1,779 high
• Mortgage (P&I): −$42
• Tax from tax record: −$4 /mo · $46/yr
• Insurance: −$3
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $1,356

Break-even live

Break-even rent $62

Max offer price $7,999

Occupancy floor 19%

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: $2,000
• Closing costs: $240
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
249 1/2 Columbia Ave #249 Rochester, NY	3.0	1.0	1600	$1,300	$0.81	14d	1	0.17mi
478 Tremont St Rochester, NY	3.0	2.0	1424	$1,500	$1.05	44d	1	0.28mi
106 Gregory St Rochester, NY	3.0	1.5	1680	$1,995	$1.19	23d	1	0.94mi
48 Thorndale Ter Rochester, NY	4.0	1.5	1700	$1,400	$0.82	14d	1	0.98mi
79 Evangeline St Rochester, NY	3.0	2.0	1876	$2,500	$1.33	2d	1	1.11mi
485 Sawyer St Unit 1 Rochester, NY	3.0	1.0	1400	$1,900	$1.36	44d	1	1.12mi
485 Sawyer St Rochester, NY	3.0	1.0	1400	$1,900	$1.36	2d	1	1.12mi
161 Fillmore St Rochester, NY	4.0	2.0	1612	$1,400	$0.87	14d	1	1.13mi
649 Jay St Rochester, NY	5.0	2.0	2144	$2,000	$0.93	3d	1	1.17mi
385 Ames St Rochester, NY	3.0	1.5	1738	$1,500	$0.86	21d	1	1.27mi
793 Woodbine Ave Rochester, NY	4.0	1.0	1700	$2,200	$1.29	2d	1	1.28mi
102 Virginia Ave Rochester, NY	4.0	1.5	1453	$2,150	$1.48	2d	1	1.39mi
1317 Genesee St Rochester, NY	3.0	2.0	1720	$2,550	$1.48	2d	1	1.47mi
839 Elmwood Ave Rochester, NY	3.0	1.0	1500	$2,600	$1.73	23d	1	1.48mi
260 E Main St Rochester, NY	3.0	1.0–2.0	1144	$2,999	$2.62	3d	14	1.49mi

Listing history 13 events

1. 2026-06-09
   days on market $7,999 Active 181 DOM
2. 2026-06-07
   days on market $7,999 Active 180 DOM
3. 2026-06-05
   days on market $7,999 Active 177 DOM
4. 2026-06-03
   days on market $7,999 Active 176 DOM
5. 2026-06-03
   days on market $7,999 Active 175 DOM
6. 2026-06-01
   days on market $7,999 Active 174 DOM
7. 2026-05-31
   days on market $7,999 Active 173 DOM
8. 2026-01-16
   price $7,999 1164-char remark

   Show marketing remark (1164 chars)

   Opportunity knocks with this shovel-ready, cleared duplex lot at 321 Frost Ave, Rochester, NY 14608. Formerly home to a 2,049 sq ft duplex, the structure has already been removed—saving you time and the expense of demolition/clearing. This clear, level parcel spans approximately 0.0095 acres (about 4,160 sq ft) and is ready for your next project. Located in a convenient city setting just two blocks from Rochester Early College International High School and roughly half a mile from the University of Rochester, the property offers strong proximity to schools, employers, and amenities. Bonus: dual access from Frost Ave and Whittlessey St adds flexibility for planning and site logistics. Zoned 12, this lot supports multiple potential exit strategies—build new and sell, develop as a rental/income-producing multi-unit, place a modular home for a cost-effective build, or hold for future development. With its cleared condition and build-ready footprint, it’s also a practical option for placing an RV (buyer to verify intended use with the municipality). Bring your builder, your vision, and your next plan—this one is ready to go.

9. 2025-12-09
   listed $10,000 Active 1164-char remark

   Show marketing remark (1164 chars)

   Opportunity knocks with this shovel-ready, cleared duplex lot at 321 Frost Ave, Rochester, NY 14608. Formerly home to a 2,049 sq ft duplex, the structure has already been removed—saving you time and the expense of demolition/clearing. This clear, level parcel spans approximately 0.0095 acres (about 4,160 sq ft) and is ready for your next project. Located in a convenient city setting just two blocks from Rochester Early College International High School and roughly half a mile from the University of Rochester, the property offers strong proximity to schools, employers, and amenities. Bonus: dual access from Frost Ave and Whittlessey St adds flexibility for planning and site logistics. Zoned 12, this lot supports multiple potential exit strategies—build new and sell, develop as a rental/income-producing multi-unit, place a modular home for a cost-effective build, or hold for future development. With its cleared condition and build-ready footprint, it’s also a practical option for placing an RV (buyer to verify intended use with the municipality). Bring your builder, your vision, and your next plan—this one is ready to go.

10. 2025-09-28
    historical
11. 2025-05-20
    price $17,999
12. 2025-04-16
    price $19,999
13. 2025-03-29
    listed $24,900 Active

ⓘ 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: $46 · $4/mo
• Projected year-2 tax: $91 · $8/mo
• Expected delta: +$44/yr (+$4/mo · 95.4%)

ⓘ 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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,351
• − Mortgage interest: −$448
• − Property taxes: −$46
• − Insurance: −$40
• − Repairs & maintenance: −$1,708
• − Management: −$1,708
• − Depreciation: −$233
• Taxable income: $17,167
• Est. tax owed @ 24.0%: −$4,120
• After-tax cash flow: $12,157/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
• County: Monroe County · 674,131 people
• City population: 432,803
• Metro: Rochester, NY
• Population (ZIP): 12,792
• Household income: $40,646
• Rent vs Own: 78.0% rent · 22.0% own
• Severe rent burden: 1300.0

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 0.67)
• Race & ethnicity: Black 50% White 25% Two or more races 13% Hispanic / Latino 12% Asian 4%
• Hispanic origin (detail): Puerto Rican 10%
• Common ancestry: Lithuanian 1% Romanian 1% Iranian 1%
• Foreign-born: 8% · Canada, India
• Languages at home: 85% English-only · Spanish 8% Other Indo-European 3% 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: ▲ 3.69%
• Current HPI: 280.2411
• Rent YoY: ▲ 6.61%
• 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

-67.9% since first listed

6 events — show timeline

• 2026-01-16 Price Changed $7,999 WNYREIS
• 2025-12-09 Listed $10,000 WNYREIS
• 2025-09-28 Listing Removed — WNYREIS
• 2025-05-20 Price Changed $17,999 WNYREIS
• 2025-04-16 Price Changed $19,999 WNYREIS
• 2025-03-29 Listed $24,900 WNYREIS

Property tax history

-20.8%/yr

Latest (2025): $46 · +0.0% YoY. Source: county tax records.