18 Bauer St · Rochester, NY 14606

$189,900

4 bd · 2.5 ba · 2,800 sqft · MultiFamily public records · 9 Days on market

Built 1929 6,070 sqft lot Est $140k · 36% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Opportunity knocks with this great investment opportunity!! This multi-family home features a 2 story 3 bedroom 1 bath unit as well as a 1 bedroom 1 bath unit bringing in $1325/mo gross rents with separate utilities! There is a workshop in the back that can be rehabbed for additional rental income as well.

Key facts

• Two family home
• Thermopane windows
• Natural wood trim

Tags

• TWO FAMILY HOME
• HOUSE HACK PROPERTY
• NATURAL WOOD TRIM
• HARDWOOD FLOORS
• THERMOPANE WINDOWS
• NEW ROOF

Property features AI

Finance

• Financial info: Operating expenses include insurance, maintenance, and trash

Exterior

• Parking: Paved parking with two or more spaces; 2-car garage
• Utilities: Cable available; High-speed internet available; Public water connected; Sewer connected
• Home design: 2-story building; Resale property; Brick and stucco construction; Asphalt roof
• Construction: Brick and stucco construction; Asphalt roof; Existing building
• Exterior features: Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas water heater
• Bedrooms: Property contains 2 units (multi-family)
• Flooring: Carpet; Hardwood; Luxury vinyl; Varies
• Bathrooms: 3 full bathrooms (total)
• Heating & cooling: Gas heating; Baseboard heating; Forced air
• Interior features: Full basement
• Laundry & utility: Tenants pay all utilities

What this means for you Summary

Snapshot

• This is a 1×4bd/1.5ba + 1×3bd/1.5ba units multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $635/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Cap rate 14.3% 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: Joseph C Wilson Foundation Academy (math 8% / reading 17%, grade F, #2,049 of 2,108 statewide, top 98%, 404 students, 91% 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 (+6.3%/yr); 125 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• At $3,081/mo this rent would consume 66% of the median local household income ($56k/yr) (locally 986% 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 $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.
• At projected returns (-3.0% appreciation + 6.3% rent growth), your $53k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 12y ago 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.
• Current owner paid $115k; list at $190k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $189,900

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. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.62% ✓
• Cap rate: 14.32%
• Cash-on-cash: 28.66%
• DSCR: 2.28
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $140,000
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
524-526 Dewey Ave	0.19mi	5/2.0 (+1)	2,750 (-2%)	8mo	$62,000	$23	74
122 Ambrose St	0.67mi	5/3.0 (+1)	2,720 (-3%)	2mo	$180,000	$66	56
127 Emerson St	0.40mi	5/2.0 (+1)	2,577 (-8%)	21mo	$102,000	$40	44
413 Lexington Ave	0.51mi	5/4.0 (+1)	2,588 (-8%)	14mo	$130,000	$50	41
452 Glenwood Ave	0.39mi	5/2.0 (+1)	2,466 (-12%)	20mo	$137,000	$56	39
463-463.5 Lyell Ave	0.50mi	5/4.0 (+1)	3,126 (+12%)	17mo	$100,000	$32	32
140 Masseth St	0.69mi	5/3.0 (+1)	3,084 (+10%)	17mo	$155,000	$50	30
541-543 Ames St #543	0.75mi	4/2.0	2,426 (-13%)	16mo	$50,000	$21	27

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: 26.4%
• Equity multiple: 2.14×
• Total profit: $60,566
• Equity at exit: $28,315

10-year hold

• IRR: 35.9%
• Equity multiple: 4.81×
• Total profit: $202,808
• Equity at exit: $16,419

Cash invested: $53,172 (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: 125
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $3,081 high
• Mortgage (P&I): −$996
• Tax from tax record: −$89 /mo · $1,069/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$647
• Net cashflow: $1,270

Break-even live

Break-even rent $1,474

Max offer price $189,900

Occupancy floor 54%

Sensitivity live

Price	-10% $1,377	-5% $1,324	+0% $1,270	+5% $1,216	+10% $1,162
Rent	-10% $1,027	-5% $1,148	+0% $1,270	+5% $1,392	+10% $1,513
Rate	-1.0pp $1,366	-0.5pp $1,318	base $1,270	+0.5pp $1,221	+1.0pp $1,171

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

Units	Beds	Baths	Est. rent
1× unit	4	1.5	$1,620
1× unit	3	1.5	$1,461
Total (2 units)			$3,081

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
327 Glenwood Ave Rochester, NY	3.0	1.0	2012	$1,690	$0.84	5d	1	0.31mi
98 Pierpont St Rochester, NY	3.0	1.0	1973	$1,295	$0.66	45d	1	0.66mi
649 Jay St Rochester, NY	5.0	2.0	2144	$2,000	$0.93	5d	1	0.89mi
235 Flower City Park Rochester, NY	3.0	1.0	2000	$1,360	$0.68	45d	1	1.48mi
768 Flower City Park Rochester, NY	3.0	1.0	1995	$1,995	$1.00	12d	1	1.48mi

Listing history 20 events

1. 2026-06-05
   days on market $189,900 Active 9 DOM
2. 2026-06-03
   days on market $189,900 Active 8 DOM
3. 2026-06-03
   days on market $189,900 Active 7 DOM
4. 2026-06-01
   days on market $189,900 Active 6 DOM
5. 2026-05-31
   days on market $189,900 Active 5 DOM
6. 2026-05-26
   listed $189,900 Active
7. 2025-05-12
   soldstatus $115,000
8. 2021-03-03
   soldstatus $48,000 Closed Sale or Rented 308-char remark

   Show marketing remark (308 chars)

   Opportunity knocks with this great investment opportunity!! This multi-family home features a 2 story 3 bedroom 1 bath unit as well as a 1 bedroom 1 bath unit bringing in $1325/mo gross rents with separate utilities! There is a workshop in the back that can be rehabbed for additional rental income as well.

9. 2021-03-03
   soldstatus $48,000

   Show marketing remark (308 chars)

   Opportunity knocks with this great investment opportunity!! This multi-family home features a 2 story 3 bedroom 1 bath unit as well as a 1 bedroom 1 bath unit bringing in $1325/mo gross rents with separate utilities! There is a workshop in the back that can be rehabbed for additional rental income as well.

10. 2021-01-04
    status Under Contract- Do Not Show 308-char remark

    Show marketing remark (308 chars)

    Opportunity knocks with this great investment opportunity!! This multi-family home features a 2 story 3 bedroom 1 bath unit as well as a 1 bedroom 1 bath unit bringing in $1325/mo gross rents with separate utilities! There is a workshop in the back that can be rehabbed for additional rental income as well.

11. 2020-12-28
    listed $39,777 Active 308-char remark

    Show marketing remark (308 chars)

    Opportunity knocks with this great investment opportunity!! This multi-family home features a 2 story 3 bedroom 1 bath unit as well as a 1 bedroom 1 bath unit bringing in $1325/mo gross rents with separate utilities! There is a workshop in the back that can be rehabbed for additional rental income as well.

12. 2016-01-02
    historical
13. 2015-10-01
    listed $44,900 Active
14. 2015-09-17
    historical
15. 2015-06-16
    listed $49,900 Active
16. 2015-02-02
    historical
17. 2015-01-05
    listed $49,900
18. 2015-01-05
    historical
19. 2014-09-04
    listed $49,900
20. 2006-11-16
    soldstatus $46,000

ⓘ 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: $1,069 · $89/mo
• Projected year-2 tax: $2,139 · $178/mo
• Expected delta: +$1,070/yr (+$89/mo · 100.1%)

ⓘ 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: $36,972
• − Mortgage interest: −$10,637
• − Property taxes: −$1,069
• − Insurance: −$950
• − Repairs & maintenance: −$2,958
• − Management: −$2,958
• − Depreciation: −$5,524
• Taxable income: $12,876
• Est. tax owed @ 24.0%: −$3,090
• After-tax cash flow: $12,149/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): 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

+312.8% since first listed

15 events — show timeline

• 2026-05-26 Listed $189,900 UNYREIS
• 2025-05-12 Sold (Public Records) $115,000 Public Records
• 2021-03-03 Sold (Public Records) $48,000 Public Records
• 2021-03-03 Sold (MLS) $48,000 UNYREIS
• 2021-01-04 Pending — UNYREIS
• 2020-12-28 Listed $39,777 UNYREIS
• 2016-01-02 Listing Removed — UNYREIS
• 2015-10-01 Listed $44,900 UNYREIS
• 2015-09-17 Listing Removed — UNYREIS
• 2015-06-16 Listed $49,900 UNYREIS
• 2015-02-02 Listing Removed — UNYREIS
• 2015-01-05 Listing Removed — UNYREIS
• 2015-01-05 Listed $49,900 UNYREIS
• 2014-09-04 Listed $49,900 UNYREIS
• 2006-11-16 Sold (Public Records) $46,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $1,069 · +0.0% YoY. Source: county tax records.