Score
0Rochester, NY
49-53 Earl St
169K
12 beds
4 baths
5,230 sqft
12 bd • 4 ba • 5,230 sf
This analysis was generated on 2/13/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
AI Property Analysis
0:000:00 / 0:00
List Price
$169,000
Price/Sq.Ft
$32
Year Built
1920
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
• Low price per square foot: At $32.31/sqft, the property is significantly cheaper than average home prices in Rochester, NY. This provides an attractive entry point for investors.
• Fully rented: The property is currently fully rented, providing immediate cash flow for the new owner.
• Four units: The four-unit structure offers economies of scale in terms of management and maintenance compared to single-family rentals.
• Porches: Two units have porches, which add appeal for tenants and potentially justify higher rents.
• Convenient location: The property is close to the airport, major transportation routes, and amenities, making it attractive to renters.
The Bad
• Older property requiring potential upgrades: Built in 1920, the property likely needs updates to electrical, plumbing, and heating systems. Older buildings often require more maintenance, which can impact profitability.
• "AS IS" condition: The property is being sold "AS IS", meaning the buyer assumes responsibility for all existing issues. This adds risk and necessitates a thorough inspection to identify potential problems.
• School ratings: The nearby schools have low ratings (2-5/10). This may deter families from renting, potentially leading to higher vacancy rates or lower rental income.
• Limited information on expenses: The listing only provides estimated insurance costs. A detailed analysis of all operating expenses (property taxes, insurance, maintenance, utilities, etc.) is needed to accurately assess profitability. High property taxes in Rochester may impact profitability.
• Certificate of Occupancy Expiration: While the Certificate of Occupancy is valid until 2030, there will be costs associated with renewing the certificate down the line.
The Ugly
• High maintenance costs: Older properties (built in 1920) often require significant maintenance and repairs. The "AS IS" condition suggests potential underlying issues that could lead to costly surprises.
• Limited Cash Flow: The median income is relatively low ($28,806), suggesting that the tenants may be rent-burdened. Any unexpected vacancy or repair expenses could significantly impact cash flow.
• Potential for code violations: Given the age of the property, there's a risk of code violations that need to be addressed. This could involve costly upgrades to meet current building standards.
• Low rental rates relative to property value: While the property is listed at $169,000, the potential rental income may not be sufficient to justify the investment. A detailed cash flow analysis is needed to determine if the property is financially viable.
• Unknown capital expenditure needs: The age of the property indicates there could be a need for significant capital expenditures. The roof, plumbing, electrical, and HVAC systems may need to be replaced soon. The cost for these repairs is unknown.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
• Investors seeking a turnkey, cash-flowing property: The property is fully rented and marketed as a stable income generator. This appeals to investors who prioritize immediate returns and minimal initial effort.
• Investors interested in the 19th Ward of Rochester: The property's location in this high-demand area makes it attractive to those familiar with or specifically targeting this market.
• Buyers who prioritize low price per square foot: At $32.31/sqft, the property offers an attractive entry point for investors seeking affordability.
• Investors comfortable with older properties: The property's age (built in 1920) and "AS IS" condition suggest it may appeal to those experienced with managing and maintaining older buildings.
• Buyers seeking properties with Certificate of Occupancy: The Certificate of Occupancy until 2030 provides immediate assurance of legal compliance.
Not For
• Buyers seeking modern or recently renovated properties: Given the building's age (built in 1920) and the "AS IS" condition, those seeking a move-in-ready property with modern amenities may find this unsuitable.
• Risk-averse buyers: The "AS IS" condition and older age of the property increase the risk of unforeseen repairs and maintenance costs.
• Buyers needing large living spaces per unit: With 4 bedrooms and 1 bath per unit, the layout might not appeal to tenants seeking more spacious or modern configurations.
• Buyers prioritizing top-rated schools: The schools in the immediate vicinity have ratings of 2-5/10, which might deter families prioritizing high-performing schools.
• Buyers prioritizing low maintenance: Due to the age of the property, buyers should anticipate higher maintenance costs.
Demographics
Area Median Income
$28,806
Property History
Price History
Ownership Timeline
$95,000Cash Purchase
Oct 13, 2006Soldi Prop MgmtRandall Wise
Deed
Non-Residential Arm's Length Transactions
$28,900Cash Purchase
Jun 27, 2006Wells Fargo BankSoldi Property Management
Foreclosure
Foreclosure
$500Cash Purchase
Feb 2, 2006George Jr CarterWells Fargo Bank
Foreclosure
Foreclosure
$0Cash Purchase
Feb 8, 2001George Carter Jr.George Carter Jr.
Intrafamily Transfer
Non-Arm's Length Transactions
$15,700Cash Purchase
Mar 21, 2000City Of RochesterGeorge Carter
Deed
Non-Arm's Length Transactions
$46,000Cash Purchase
May 13, 1996Linda PerlmanAnthony Simeone
Deed
Non-Residential Arm's Length Transactions
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
2.5/10
Below AverageMiddle
1.8/10
Below AverageHigh
1.0/10
Below AverageFinancials
Monthly Costs
Market Rent (12 bed)
Get a detailed estimate on Zillow$839
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