1350 St Paul St · Rochester, NY 14621

$224,900

144 bd · None ba · 13,734 sqft · MultiFamily · 22 Days on market

Built 1930 Poor condition 7,841 sqft lot $16/sqft · 85% below area

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• Schools +1.9/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 12 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

FLEX WAREHOUSE / COMMERCIAL BUILDING & OVER 1 ACRE SURFACE LOT – EASY SELLER FINANCING - M1 INDUSTRIAL ZONING – NEARLY ALL USES PERMITTED – APPROVED FOR 12 UNIT APARTMENT BUILDING - CONTRACTORS / PROP MGMT / WAREHOUSE / SELF STORAGE / OUTDOOR STORAGE YARD / MFG / INDUSTRIAL / AUTO / ARTIST LOFTS / APTS / MIXED USE / CHURCH SPACE / LIVE WORK – CLEAN SLATE – STRUCTURALLY SOUND – BRAND NEW ELECTRICAL SERVICE INSTALLED – ROOF SERVICED & TEAR OFF ROOF ON FIRE STAIRCASES - BRING YOUR OFFERS & YOUR FINISHES –ALSO LISTED UNDER MLS: R1678549

Key facts

• M1 industrial zoning
• Roof serviced
• 7,841 sq ft lot

Tags

• OVER 1 ACRE SURFACE LOT
• M1 INDUSTRIAL ZONING
• ROOF SERVICED

Property features AI

Finance

• Financial info: Operated as a multi-unit property with 12 total units; 13 separate electric meters; 1 separate gas meter; Operating expense details: see remarks; Owner pays: other (see remarks); Rent includes: see remarks

Exterior

• Parking: Driveway parking; Three or more parking spaces; No garage
• Utilities: Electricity available (circuit breakers); Public water connected; Sewer connected
• Home design: Three-story building; Existing structure; Flat roof
• Construction: Brick construction; Copper and PEX plumbing
• Exterior features: Blacktop driveway; Near public transit; Irregular lot shape; Lot dimensions approximately 52 x 170 ft

Interior

• Heating & cooling: Electric heating available; Gas heating available; Heating details: see remarks
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 12 × 1-bed/1-bath units multifamily listed at $225k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $10k ($118k/yr) — positive. Per door: $816/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $225k).
• Recommended offer: $222k (1.5% below list) — sets the bar for market timing.
• Cap rate 58.6% 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 (+8.9%/yr); 114 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).
• At $14,368/mo this rent would consume 487% of the median local household income ($35k/yr) (locally 2756% 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 $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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $63k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $221,526 (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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 6.39% ✓
• Cap rate: 58.56%
• Cash-on-cash: 186.68%
• DSCR: 9.31
• GRM: 1.3

CMA / ARV

• ARV (median comp): $1,462,152
• List price: $224,900
• Delta: -84.62%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 11.54×
• Total profit: $663,648
• Equity at exit: $33,533

10-year hold

• IRR: —
• Equity multiple: 28.44×
• Total profit: $1,727,797
• Equity at exit: $19,445

Cash invested: $62,972 (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 14621

• Home prices YoY: -4.0%
• Rents YoY: 8.9%
• Active inventory: 114
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $14,368 high
• Mortgage (P&I): −$1,179
• Tax est. 1.5%: −$281 /mo · $3,374/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,017
• Net cashflow: $9,796

Break-even live

Break-even rent $1,967

Max offer price $224,900

Occupancy floor 27%

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

Units	Beds	Baths	Est. rent
▸ 12× units	1	1	$14,364
Total (12 units)			$14,368

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-12
   historical
2. 2026-05-05
   listed $224,900 Active
3. 2026-05-05
   listed $224,900 Active 606-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $172,416
• − Mortgage interest: −$12,598
• − Property taxes: −$3,374
• − Insurance: −$1,124
• − Repairs & maintenance: −$13,793
• − Management: −$13,793
• − Depreciation: −$6,543
• Taxable income: $121,191
• Est. tax owed @ 24.0%: −$29,086
• After-tax cash flow: $88,472/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 · 1 photo

Poor 20/100 Extensive rehab

This property is a large, vacant commercial building with extensive structural and interior issues. Significant renovations are required to make it move-in ready and suitable for various uses, including apartments and storage. The highest-ROI updates include roof replacement, HVAC upgrades, and interior renovations.

Repairs flagged

• Major roof — Tear-off roof on fire stairs
• Major HVAC/mechanicals — No photos of the HVAC/mechanicals
• Major interior walls/paint — No photos of the interior walls/paint
• Major exterior — No photos of the exterior
• Major flooring — No photos of the flooring
• Major kitchen — No photos of the kitchen
• Major bathrooms — No photos of the bathrooms
• Major windows — No photos of the windows
• Major HVAC/mechanicals — No photos of the HVAC/mechanicals
• Major landscaping/curb appeal — No photos of the landscaping/curb appeal

Value-add opportunities

• Both roof replacement — Improves safety and appearance
• Both HVAC upgrade — Enhances comfort and energy efficiency
• Both exterior paint and landscaping — Enhances curb appeal and property value
• Both interior updates — Improves living conditions and aesthetics
• Both kitchen and bathroom renovations — Enhances functionality and appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Tear-off roof on fire stairs	Major	$15,000–50,000
HVAC/mechanicals · No photos of the HVAC/mechanicals	Major	$15,000–50,000
interior walls/paint · No photos of the interior walls/paint	Major	$15,000–50,000
exterior · No photos of the exterior	Major	$15,000–50,000
flooring · No photos of the flooring	Major	$15,000–50,000
kitchen · No photos of the kitchen	Major	$15,000–50,000
bathrooms · No photos of the bathrooms	Major	$15,000–50,000
windows · No photos of the windows	Major	$15,000–50,000
HVAC/mechanicals · No photos of the HVAC/mechanicals	Major	$15,000–50,000
landscaping/curb appeal · No photos of the landscaping/curb appeal	Major	$15,000–50,000
Total estimated repair cost · 10 items		$150,000–500,000

Value-add ROI direction

• Both roof replacement — Improves safety and appearance ↑
• Both HVAC upgrade — Enhances comfort and energy efficiency ↑
• Both exterior paint and landscaping — Enhances curb appeal and property value ↑
• Both interior updates — Improves living conditions and aesthetics ↑
• Both kitchen and bathroom renovations — Enhances functionality and appeal ↑

ⓘ 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): 32,381
• Household income: $35,383
• Rent vs Own: 64.6% rent · 35.4% own
• Severe rent burden: 2756.0

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 0.66)
• Race & ethnicity: Hispanic / Latino 40% Black 40% White 14% Two or more races 12% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 32% Dominican 3%
• Common ancestry: Romanian 1% Lithuanian 1% Serbian 1%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 65% English-only · Spanish 30% Other Asian/Pacific 2% 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: ▼ -10.66%
• Current HPI: 254.1805
• Rent YoY: ▲ 8.88%
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-27 Pending — UNYREIS
• 2026-05-12 Listing Removed — UNYREIS
• 2026-05-05 Listed $224,900 UNYREIS
• 2026-05-05 Listed $224,900 UNYREIS