296 Castleman Rd · Rochester, NY 14620

$249,900

3 bd · 1.5 ba · 1,176 sqft · SingleFamily public records · 6 Days on market

Built 1950 8,545 sqft lot $212/sqft · 24% below area Est $328k · 24% under

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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 +16.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Open Houses Saturday 5/2 12pm until 2pm and Sunday 5/3, from 11 am until 1 pm. Welcome to 296 Castleman Rd — a meticulously maintained 3-bedroom, 1.5-bath home perfectly positioned for a medical professional or anyone seeking quick access to Strong Memorial Hospital, URMC, and College Town, all just a 7-minute walk away. With 0.2 miles to Routes 390/590 and the Erie Canal Path/Genesee Valley Park right at your doorstep, convenience is built into every corner of this property. Inside, you'll find refinished hardwood floors and ceramic tile throughout, recently updated kitchen and baths, and freshly painted interiors that give the home a clean, move-in-ready feel. Spacious closets &mdas

Key facts

• Erie canal path
• Genesee valley park
• Ceramic tile

Tags

• 0.2 MILES TO ROUTES 390/590
• ERIE CANAL PATH
• GENESEE VALLEY PARK
• REFINISHED HARDWOOD FLOORS
• CERAMIC TILE
• RECENTLY UPDATED KITCHEN

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water connected; Sewer connected; Cable available; Circuit breaker electrical
• Home design: 2-story house; Existing construction; Facing direction not specified
• Construction: Shake siding exterior; Asphalt roof; Block foundation
• Exterior features: Deck; Fully fenced yard; Blacktop driveway; Corner, rectangular residential lot; City street frontage

Interior

• Kitchen: Electric oven; Electric range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Total rooms: 6 (includes living, recreation, laundry, basement spaces)
• Flooring: Ceramic tile; Hardwood; Varies
• Bathrooms: 1 full bathroom; 1 half bathroom; One main-level bathroom
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Separate/formal dining room; Separate/formal living room; Full basement
• Laundry & utility: Washer and dryer; Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $133 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (13.7% below list).
• Recommended offer: $216k (13.7% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 9.3% in Rochester — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 (+1.2%/yr); 74 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• This rent runs 42% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $215,669 (13.7% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.86% ✗
• Cap rate: 6.93%
• Cash-on-cash: 2.29%
• DSCR: 1.10
• GRM: 9.7

CMA / ARV

• ARV (median comp): $327,679
• List price: $249,900
• Delta: -23.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
296 Castleman Rd	0.00mi	3/1.5	1,176 (0%)	0mo	$360,000	$306	100
22 Southland Dr	0.37mi	3/1.5	1,188 (+1%)	6mo	$220,000	$185	76
292 E Henrietta Rd	0.56mi	3/1.0	1,160 (-1%)	0mo	$137,000	$118	69
114 Elmerston Rd	0.13mi	3/1.0	1,332 (+13%)	1mo	$372,000	$279	69
116 Cimarron Dr	0.44mi	3/1.0	1,115 (-5%)	1mo	$230,000	$206	68
122 E Henrietta Rd	0.55mi	3/2.0	1,231 (+5%)	1mo	$250,000	$203	64
190 Lattimore Rd	0.23mi	4/1.5 (+1)	1,350 (+15%)	1mo	$370,000	$274	59
30 Raleigh St	0.52mi	3/1.0	1,304 (+11%)	1mo	$323,000	$248	55
210 Sunnyside Dr	0.68mi	3/2.0	1,098 (-7%)	1mo	$240,000	$219	54
64 Rosemount St	0.65mi	4/2.0 (+1)	1,152 (-2%)	8mo	$288,000	$250	53
57 Rossiter Rd	0.43mi	3/1.0	1,338 (+14%)	5mo	$235,000	$176	50
140 Norman Rd	0.72mi	2/1.5 (-1)	1,233 (+5%)	5mo	$230,140	$187	49

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 · 1.2% rent growth · sell at horizon

5-year hold

• IRR: -14.6%
• Equity multiple: 0.49×
• Total profit: $-35,904
• Equity at exit: $37,261

10-year hold

• IRR: -8.9%
• Equity multiple: 0.49×
• Total profit: $-35,777
• Equity at exit: $21,607

Cash invested: $69,972 (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 14620

• Home prices YoY: -20.1%
• Rents YoY: 1.2%
• Active inventory: 74
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,157 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$156 /mo · $1,870/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $133

Break-even live

Break-even rent $1,988

Max offer price $249,900

Occupancy floor 89%

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
54 Westmoreland Dr Rochester, NY	4.0	1.0	1230	$2,450	$1.99	2d	1	0.17mi
175 Lattimore Rd Rochester, NY	3.0	1.0	1480	$2,265	$1.53	14d	1	0.18mi
51 Elmerston Rd Rochester, NY	3.0	2.0	1374	$2,400	$1.75	2d	1	0.19mi
44 Rosemount St Rochester, NY	2.0	1.0	969	$1,300	$1.34	14d	1	0.60mi
1331 Mt Hope Ave Rochester, NY	2.0	1.0–2.0	949	$2,725	$2.87	2d	5	0.69mi
839 Elmwood Ave Rochester, NY	3.0	1.0	1500	$2,600	$1.73	23d	1	0.81mi
2 Gold St Unit 2 Rochester, NY	2.0	1.0	750	$1,400	$1.87	3d	1	0.90mi
59 Gold St Rochester, NY	3.0	1.5	1264	$2,000	$1.58	43d	1	0.91mi
76 Gold St Rochester, NY	2.0	1.0	750	$1,400	$1.87	3d	1	0.94mi
90 Scottsville Rd Unit 1 Rochester, NY	2.0	1.0	1000	$1,750	$1.75	2d	1	0.97mi
249 Crittenden Way Unit 0328-3 Rochester, NY	2.0	1.0	900	$1,749	$1.94	2d	1	1.02mi
249 Crittenden Way Unit 0038-6 Rochester, NY	2.0	1.0	930	$1,769	$1.90	43d	1	1.02mi
127 Congress Ave Rochester, NY	3.0	1.0	1200	$1,595	$1.33	43d	1	1.13mi
255 Genesee Park Blvd Unit UP Rochester, NY	2.0	1.0	1032	$1,300	$1.26	14d	1	1.19mi
999 E Henrietta Rd Rochester, NY	1.0–2.0	1.0–2.0	930	$1,665	$1.79	2d	1	1.25mi
102 Virginia Ave Rochester, NY	4.0	1.5	1453	$2,150	$1.48	2d	1	1.31mi
686 Seward St Rochester, NY	3.0	1.5	1166	$1,600	$1.37	43d	1	1.32mi
444-450 Brooks Ave Unit 446 Rochester, NY	4.0	2.0	1150	$3,100	$2.70	10d	1	1.48mi

Listing history 6 events

1. 2026-05-05
   status Pending 1490-char remark
2. 2026-04-29
   listed $249,900 Active 1490-char remark
3. 2008-06-30
   soldstatus $132,000
4. 2006-07-28
   soldstatus $125,000
5. 2002-07-09
   soldstatus $74,000
6. 1999-07-30
   soldstatus $64,000

ⓘ 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: $1,870 · $156/mo
• Projected year-2 tax: $3,047 · $254/mo
• Expected delta: +$1,177/yr (+$98/mo · 62.9%)

ⓘ 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 4/10 Moderate
• 🌡 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: $25,880
• − Mortgage interest: −$13,998
• − Property taxes: −$1,870
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,070
• − Management: −$2,070
• − Depreciation: −$7,270
• Taxable loss: −$2,648
• Est. tax savings @ 24.0%: +$636
• After-tax cash flow: $2,235/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): 23,769
• Household income: $61,783
• Rent vs Own: 70.8% rent · 29.2% own
• Severe rent burden: 2013.0

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 (68%)
• Race & ethnicity: White 68% Black 12% Asian 9% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 5% Iranian 3% Lithuanian 2%
• Foreign-born: 13% · China, Canada, South Korea
• Languages at home: 85% English-only · Chinese 4% Spanish 4% Other Indo-European 3%

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: ▼ -84.77%
• Current HPI: 337.6917
• Rent YoY: ▲ 1.20%
• 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

+462.5% since first listed

7 events — show timeline

• 2026-06-09 Sold (MLS) $360,000 UNYREIS
• 2026-05-05 Pending — UNYREIS
• 2026-04-29 Listed $249,900 UNYREIS
• 2008-06-30 Sold (Public Records) $132,000 Public Records
• 2006-07-28 Sold (Public Records) $125,000 Public Records
• 2002-07-09 Sold (Public Records) $74,000 Public Records
• 1999-07-30 Sold (Public Records) $64,000 Public Records

Property tax history

+0.3%/yr

Latest (2025): $1,870 · -4.0% YoY. Source: county tax records.