363 Lake Ave · Rochester, NY 14608

$299,900

36 bd · None ba · 6,098 sqft · MultiFamily · 88 Days on market

Built 1900 Fair condition 0.25 ac lot $49/sqft · 22% above area Est $246k · 22% over

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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
• Appreciation +6.8/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.2/5.0
• Schools +1.9/10.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

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

Turnkey investment opportunity in the City of Rochester! This well-maintained 6-unit apartment building features six 1-bedroom, 1-bath units, offering strong income potential and flexibility for both investors and owner-occupants. Each unit offers a spacious layout with eat-in kitchens. Currently, 4 units are rented, 1 is owner-occupied, and 1 unit is vacant and producing a monthly gross income of $2,900. Newer gutters, a newer roof, newer soffits, and some vinyl windows are a few of the updates you will find throughout the property. Whether you're looking to expand your portfolio or live in one unit while collecting rental income, this property presents a fantastic opportunity with built-in potential.

Key facts

• Spacious layout
• Eat in kitchens
• 0.25 acre lot

Tags

• TURNKEY INVESTMENT OPPORTUNITY
• STRONG INCOME POTENTIAL
• SPACIOUS LAYOUT
• EAT IN KITCHENS
• VACANT UNIT PRODUCING INCOME

What this means for you Summary

Snapshot

• This is a 6 × 1-bed/1-bath units multifamily listed at $300k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $4k ($52k/yr) — positive. Per door: $718/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $300k).
• Recommended offer: $282k (6.0% below list) — sets the bar for market timing.
• Cap rate 23.5% 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: 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.
• Zoned schools: School 5-John Williams (math 2% / reading 8%, grade F, #2,098 of 2,108 statewide, top 100%, 596 students, 93% FRL); East Lower School (math 2% / reading 22%, grade F, #715 of 729 statewide, top 98%, 304 students, 86% FRL); Edison Career And Technology High School (math 44% / reading 50%, grade D-, #1,007 of 1,100 statewide, top 93%, 1,233 students, 91% FRL).
• Market conditions: Rents rising fast (+6.6%/yr); 51 active listings in the ZIP; lower-income renter base — watch delinquency; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($2k loan paydown + $11k 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 $84k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $300k implies a 400% 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 $281,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 2.69% ✓
• Cap rate: 23.52%
• Cash-on-cash: 61.52%
• DSCR: 3.74
• GRM: 3.1

CMA / ARV

• ARV (median comp): $246,390
• List price: $299,900
• Delta: 21.72%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 70.5%
• Equity multiple: 5.19×
• Total profit: $351,940
• Equity at exit: $146,668

10-year hold

• IRR: 70.7%
• Equity multiple: 11.81×
• Total profit: $908,059
• Equity at exit: $235,687

Cash invested: $83,972 (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 14608

• Home prices YoY: 1.3%
• Rents YoY: 6.6%
• Active inventory: 51
• Price-to-rent: 18.6×

Monthly cashflow live

• Estimated rent: $8,073 high
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,498/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,695
• Net cashflow: $4,305

Break-even live

Break-even rent $2,623

Max offer price $299,900

Occupancy floor 42%

Sensitivity live

Price	-10% $4,512	-5% $4,409	+0% $4,305	+5% $4,202	+10% $4,098
Rent	-10% $3,667	-5% $3,986	+0% $4,305	+5% $4,624	+10% $4,943
Rate	-1.0pp $4,456	-0.5pp $4,381	base $4,305	+0.5pp $4,227	+1.0pp $4,148

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

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$8,076
Total (6 units)			$8,073

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $299,900 Active 88 DOM
2. 2026-06-18
   days on market $299,900 Active 85 DOM
3. 2026-06-17
   days on market $299,900 Active 84 DOM
4. 2026-06-16
   days on market $299,900 Active 83 DOM
5. 2026-06-15
   days on market $299,900 Active 82 DOM
6. 2026-06-13
   days on market $299,900 Active 80 DOM
7. 2026-06-13
   days on market $299,900 Active 79 DOM
8. 2026-06-10
   days on market $299,900 Active 77 DOM
9. 2026-06-09
   days on market $299,900 Active 76 DOM
10. 2026-06-09
    days on market $299,900 Active 75 DOM
11. 2026-06-07
    days on market $299,900 Active 74 DOM
12. 2026-06-05
    days on market $299,900 Active 71 DOM
13. 2026-06-03
    days on market $299,900 Active 70 DOM
14. 2026-06-03
    days on market $299,900 Active 69 DOM
15. 2026-06-01
    days on market $299,900 Active 68 DOM
16. 2026-05-31
    days on market $299,900 Active 67 DOM
17. 2026-03-25
    listed $319,900 Active 711-char remark

    Show marketing remark (711 chars)

    Turnkey investment opportunity in the City of Rochester! This well-maintained 6-unit apartment building features six 1-bedroom, 1-bath units, offering strong income potential and flexibility for both investors and owner-occupants. Each unit offers a spacious layout with eat-in kitchens. Currently, 4 units are rented, 1 is owner-occupied, and 1 unit is vacant and producing a monthly gross income of $2,900. Newer gutters, a newer roof, newer soffits, and some vinyl windows are a few of the updates you will find throughout the property. Whether you're looking to expand your portfolio or live in one unit while collecting rental income, this property presents a fantastic opportunity with built-in potential.

18. 2013-04-29
    soldstatus $60,000 238-char remark

    Show marketing remark (238 chars)

    This brick, 2 story, 6 family is a CASH COW! Boiler is 7-8 years old. Tenants pay their own electric & cooking gas. Annual Operating Expenses: RG & E/ 6800 average, H2O/500, Insurance/$1200, Refuse/$700.Property needs some work.

19. 2012-11-18
    listed $89,900 238-char remark

    Show marketing remark (238 chars)

    This brick, 2 story, 6 family is a CASH COW! Boiler is 7-8 years old. Tenants pay their own electric & cooking gas. Annual Operating Expenses: RG & E/ 6800 average, H2O/500, Insurance/$1200, Refuse/$700.Property needs some work.

20. 2010-10-30
    soldstatus $70,000
21. 2010-07-26
    listed $90,000

ⓘ 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 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: $96,876
• − Mortgage interest: −$16,799
• − Property taxes: −$4,498
• − Insurance: −$1,500
• − Repairs & maintenance: −$7,750
• − Management: −$7,750
• − Depreciation: −$8,724
• Taxable income: $49,854
• Est. tax owed @ 24.0%: −$11,965
• After-tax cash flow: $39,696/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 · 2 photos

Fair 45/100 Moderate rehab

This multi-family property requires extensive repairs and maintenance to improve its condition and value. Immediate focus should be on the roof, exterior, flooring, and interior walls.

Repairs flagged

• Major roof — Exposed roof structure
• Major exterior siding — Peeling paint and exposed siding
• Major flooring — Worn and uneven flooring
• Major interior walls — Painted walls with visible wear

Value-add opportunities

• Both painting and repainting — Enhances curb appeal and interior aesthetics
• Both roof replacement — Critical for structural integrity and long-term value
• Both flooring replacement — Improves living conditions and property value
• Both interior wall repairs — Restores structural integrity and enhances appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Exposed roof structure	Major	$15,000–50,000
exterior siding · Peeling paint and exposed siding	Major	$15,000–50,000
flooring · Worn and uneven flooring	Major	$15,000–50,000
interior walls · Painted walls with visible wear	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both painting and repainting — Enhances curb appeal and interior aesthetics ↑
• Both roof replacement — Critical for structural integrity and long-term value ↑
• Both flooring replacement — Improves living conditions and property value ↑
• Both interior wall repairs — Restores structural integrity and enhances appearance ↑

ⓘ 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): 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

+255.4% since first listed

5 events — show timeline

• 2026-03-25 Listed $319,900 UNYREIS
• 2013-04-29 Sold (MLS) $60,000 UNYREIS
• 2012-11-18 Listed $89,900 UNYREIS
• 2010-10-30 Sold (MLS) $70,000 UNYREIS
• 2010-07-26 Listed $90,000 UNYREIS