277 Wolcott Ave · North Gates, NY 14606

$184,900

3 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 8 Days on market

Built 1961 5,227 sqft lot $175/sqft · 19% below area Est $227k · 19% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +7.7/30.0
• Rent growth +4.1/5.0
• 1% rule +3.8/10.0
• Livability +3.8/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Stop scrolling, this is the one! This fully updated 3 bed, 1.5 bath modern ranch checks every box and then some! From the moment you walk in, the bright open-concept layout draws you straight through a stunning eat-in kitchen featuring white shaker cabinets with tons of storage, granite countertops, a breakfast bar, tiled backsplash, and a full suite of stainless steel appliances. Luxury vinyl plank flooring, recessed lighting, and modern fixtures run throughout the entire first floor, tying it all together with a clean, contemporary feel. Three generously sized bedrooms and a beautifully updated primary bath with dual vanity and tiled shower round out the main level, all freshly painted an

Key facts

• Tiled backsplash
• Eat-in kitchen
• Granite countertops

Tags

• OPEN-CONCEPT LAYOUT
• EAT-IN KITCHEN
• WHITE SHAKER CABINETS
• GRANITE COUNTERTOPS
• BREAKFAST BAR
• TILED BACKSPLASH

Property features AI

Exterior

• Parking: Driveway parking; No garage
• Utilities: High-speed internet available; Public water connected; Sewer connected; Circuit breaker electrical service
• Home design: Single-story home; Existing (previously built) structure
• Construction: Wood siding; Architectural shingle roof; Block foundation; Copper and PEX plumbing
• Exterior features: Blacktop driveway; Partial fencing; Yard with shed/storage; Near public transit; Rectangular residential lot with city street frontage

Interior

• Kitchen: Dishwasher; Garbage disposal; Gas oven and gas range; Microwave; Refrigerator; Granite counters; Breakfast bar; Eat-in kitchen
• Bedrooms: Three main-level bedrooms
• Flooring: Luxury vinyl; Tile; Varied flooring
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Breakfast bar; Eat-in kitchen; Separate/formal living room; Granite counters; Combined living and dining area; Storage space; Convertible bedroom; Main level primary suite; Bedroom on main level; Has basement (full) with sump pump
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-215 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (20.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (11.6% below list).
• Recommended offer: $147k (20.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 75/100 on livability (#245 in NY, #3,859 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: crime D, schools F, amenities F.
• Gates-Chili Central School District (suburban): math 41% / reading 42% proficiency, ranked #491 of 590 in NY (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.3%/yr); 124 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 35% of the median local income ($56k/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 $1k of loan paydown is wiped out by about $6k 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 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $60k; list at $185k implies a 208% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price.

Recommended offer $146,982 (20.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.88% ✗
• Cap rate: 4.90%
• Cash-on-cash: -4.98%
• DSCR: 0.78
• GRM: 9.4

CMA / ARV

• ARV (median comp): $227,447
• List price: $184,900
• Delta: -18.71%
• 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
301 Downsview Dr	0.26mi	3/1.5	1,040 (-2%)	1mo	$222,000	$213	82
69 Youngs Ave	0.32mi	3/1.0	1,036 (-2%)	2mo	$110,000	$106	80
23 Bobbie Dr	0.31mi	3/1.0	1,092 (+3%)	3mo	$220,000	$201	78
22 Morningstar Dr	0.32mi	3/1.0	1,092 (+3%)	4mo	$235,000	$215	76
4 Bobbie Dr	0.16mi	3/1.0	1,118 (+6%)	8mo	$215,000	$192	76
24 Bobbie Dr	0.31mi	3/2.0	1,092 (+3%)	2mo	$245,000	$224	74
134 Norwood Ave	0.37mi	2/1.0 (-1)	1,060 (+0%)	4mo	$67,500	$64	74
84 Kentucky Ave	0.50mi	3/2.0	1,078 (+2%)	4mo	$218,000	$202	66
9 E Crest Dr	0.43mi	3/1.0	1,144 (+8%)	2mo	$254,000	$222	65
2986 Lyell Rd	0.52mi	2/2.0 (-1)	1,044 (-1%)	8mo	$215,000	$206	58
37 Abbottsford Dr	0.64mi	3/1.0	1,122 (+6%)	3mo	$271,000	$242	57
160 Jordan Ave	0.73mi	4/1.0 (+1)	1,048 (-1%)	5mo	$89,900	$86	56

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 · 6.28% rent growth · sell at horizon

5-year hold

• IRR: -20.3%
• Equity multiple: 0.27×
• Total profit: $-37,896
• Equity at exit: $27,569

10-year hold

• IRR: -6.6%
• Equity multiple: 0.51×
• Total profit: $-25,475
• Equity at exit: $15,987

Cash invested: $51,772 (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 14606

• Home prices YoY: -17.9%
• Rents YoY: 6.3%
• Active inventory: 124
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,635 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$459 /mo · $5,511/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $-215

Break-even live

Break-even rent $1,906

Max offer price $146,982

Occupancy floor —

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3546 Lyell Rd Rochester, NY	2.0	1.0	730	$1,395	$1.91	21d	1	0.79mi
40 Hazelhurst Dr Gates, NY	2.0	1.0	635	$1,440	$2.27	2d	20	0.96mi
155 Canal Landing Blvd Rochester, NY	1.0–3.0	1.5–2.0	1174	$2,050	$1.75	2d	5	1.18mi

Listing history 3 events

1. 2026-05-13
   listed $184,900 Active 1575-char remark
2. 2022-10-14
   soldstatus $60,000
3. 2003-05-15
   soldstatus $66,000

ⓘ 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: $5,511 · $459/mo
• Projected year-2 tax: $5,511 · $459/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 (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: $19,614
• − Mortgage interest: −$10,357
• − Property taxes: −$5,511
• − Insurance: −$924
• − Repairs & maintenance: −$1,569
• − Management: −$1,569
• − Depreciation: −$5,379
• Taxable loss: −$5,696
• Est. tax savings @ 24.0%: +$1,367
• After-tax cash flow: $-1,209/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: Gates-Chili Central School District
• NCES district ID: 3611880
• Math proficiency: 41% ▼ -12.00%
• Reading proficiency: 42% ▼ -6.00%
• Median HH income: $55,045
• Composite: 36.23/100
• National rank: #4719
• State rank: #491 of 590 in NY

Livability — North Gates

• Score: 75/100
• State rank: #245
• US rank: #3859

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Gates, NY
• County: Monroe County · 674,131 people
• City population: 27,478
• Metro: Rochester, NY
• Population (ZIP): 25,538
• Household income: $55,807
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 986.0

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 0.64)
• Race & ethnicity: White 51% Black 26% Hispanic / Latino 17% Two or more races 8% Asian 3%
• Hispanic origin (detail): Puerto Rican 12% Cuban 2%
• Common ancestry: Romanian 3% Lithuanian 1% Iranian 1%
• Foreign-born: 10% · Canada, Vietnam, Philippines
• Languages at home: 79% English-only · Spanish 12% Other Indo-European 3% Other Asian/Pacific 2%

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: ▼ -62.59%
• Current HPI: 287.6868
• Rent YoY: ▲ 6.28%
• 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

+180.2% since first listed

4 events — show timeline

• 2026-05-21 Pending — UNYREIS
• 2026-05-13 Listed $184,900 UNYREIS
• 2022-10-14 Sold (Public Records) $60,000 Public Records
• 2003-05-15 Sold (Public Records) $66,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $5,511 · +16.0% YoY. Source: county tax records.