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Welcome Back,

Howdy, happy Friday. I hope you all have had an amazing week. We are back to talk about another Real Estate market, Rochester, New York. On top of that we are also going to dive into how you can profit from renovating in older areas. Enjoy!

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Real Estate Investing

Market Snapshot:

Rochester, New York
The Rochester real estate market is showing stable growth, with the median home price currently at $215,000, reflecting a 4.3% year-over-year increase. The city has become increasingly attractive to investors due to its affordability and proximity to the Finger Lakes region, which continues to draw tourism. Inventory remains tight, with 1,800 active listings, down 3% from last year. Demand for both single-family homes and multi-unit rentals is strong, making Rochester a great option for those seeking cash flow in a steady market.
Median Home Price: $215,000
YoY Price Growth: 4.3%
Active Listings: 1,800 (down 3% YoY)

Deal Of The Day:

Fourplex in Rochester, NY
Price: $240,000
Units: 4 (2-Bed, 1-Bath each)
Monthly Rental Income: $4,600
Cap Rate: 7.8%
This fourplex is located in a desirable neighborhood close to downtown Rochester and major universities. Each unit rents for $1,150/month, providing a total annual rental income of $55,200. With a 7.8% cap rate, this property offers great cash flow potential. Given Rochester’s affordability and the high demand for rentals from students and young professionals, this property is positioned for both immediate income and long-term appreciation.

Real Estate Tip:

Investment Strategy:

Subject-To Financing
In a subject-to financing deal, you take over a seller's existing mortgage rather than securing your own loan. This can be beneficial when interest rates are higher, and the seller has a lower-rate mortgage in place. For example, if you purchase a home with a $300,000 mortgage at 3%, instead of today’s market rate of 6.5%, you’re immediately saving on borrowing costs, increasing your cash flow.

Current Interest Rates:

Rochester, New York
30-Year Fixed Residential: 6.3%
15-Year Fixed Residential: 5.6%
Commercial Rates: Starting at 6.5%
While residential mortgage rates in Rochester are in line with national trends, hovering around 6.3%, local banks are offering competitive commercial loan rates starting at 6.5%. This is favorable for investors looking at multifamily or mixed-use properties in this affordable market.

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Economic Conditions

Rochester's economy remains stable, with its unemployment rate at 4.0%. While inflation has driven up construction costs by 3.2%, the city's diverse economy—led by healthcare, education, and tech sectors—keeps the housing market strong. Continued investments in downtown revitalization are expected to fuel further demand for residential and commercial properties, making Rochester a great target for real estate investors seeking long-term value.

How to Profit from Renovation Properties in Older Cities

Rochester, like many older cities, has a wealth of properties with historic charm, often in need of updates. Investors can profit from buying homes or multifamily buildings at a discount and adding value through renovation. For example, purchasing a $180,000 home and investing $30,000 in upgrades can push the resale value to $250,000 or higher, yielding a solid return on investment. Look for properties in transitional neighborhoods where local revitalization projects are underway, as these areas often see faster appreciation once upgraded homes attract new buyers or renters.

Key Takeaways:

• Rochester Market Update: Median home price of $215,000, up 4.3% YoY, with 1,800 active listings.

• Deal of the Day: Fourplex in Rochester generating $4,600/month in rental income with a 7.8% cap rate.

• Tip: Pay close attention to property taxes, as they can significantly affect your cash flow in areas like Rochester.

• Investment Strategy: Use subject-to financing to take advantage of lower mortgage rates when interest rates are high.

• Interest Rates: Residential mortgages at 6.3%, while commercial loans start at 6.5%.

• Economic Impact: Rochester’s 4.0% unemployment rate and diverse economy support strong housing demand despite rising construction costs.

Subscriber Q&A

Q: What is a closing cost in real estate?
A: Closing costs are fees paid at the final step of a real estate transaction, including appraisal, title insurance, and attorney fees.

Q: How does leverage work in real estate investing?
A: Leverage in real estate means using borrowed funds (like a mortgage) to increase the potential return on investment, but it also increases risk if property values decline.

^{If you have a questions regarding real estate reply to this email or email us at [email protected]}

That’s All For Today

I hope you enjoyed today’s issue. If you have any questions regarding today’s issue or future issues feel free to ask. Come back tomorrow for information on how to grow your income and wealth. I hope to see you.

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