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    2 Thayer St Rochester, NY 14607

    Sponsored
    For Sale
    $300,000

    MULTI_FAMILY - Other - Rochester, NY

    Property size:
    3,726 SF
    Lot size:
    0.12 Acres
    Days on Market:
    2
    Last Refresh:
    Jan 21 at 2:06 am

    Property Features for 2 Thayer St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Window features
    Skylight(s)
    Rooms
    Bedroom 2, Bedroom 4, Bedroom 6, Bedroom 1, Basement, Bathroom 2, Bathroom 3, Bedroom 5, Bathroom 1, Bedroom 3
    Bedrooms
    6
    Bathrooms
    3
    APN
    261400-121-510-0002-043-000-0000
    Parking features
    Garage, Paved or Surfaced
    Interior features
    Skylights, NaturalWoodwork
    Exterior features
    PrivateYard
    Fireplace
    1
    Appliances
    GasWaterHeater
    Size
    3,726 SF
    Lot size
    0.12 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Water source
    Public

    Building Details

    Year built
    1890
    Floors in Building
    2
    Number of units
    3
    Flooring type
    Varies, Laminate, Carpet, Hardwood
    Building materials
    WoodSiding, CopperPlumbing
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Dayna Orione-Kim

    Keller Williams Realty Greater Rochester (585) 362-8900 [email protected]

    Listing agent Dayna Orione-Kim (585) 362-8900 License #10401352226

    Listing date Jan 20, 2026

    Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Victorian Triplex in Historic Neighborhood

    Located in the highly sought-after Historic Park Avenue Neighborhood of Rochester, NY, the property at 2 Thayer Street, also known as 38 Rutgers Street, is a sprawling Victorian triplex. The property features a large, inviting front porch overlooking a private front and side yard bordered by mature hedges. The first-floor apartment includes a spacious kitchen with original wood cabinetry, pantry, and a classic country sink, along with a back door leading to a private rear porch. This unit also offers a generously sized living room with built-ins and a wood-burning stove insert, extensive pocket doors, a formal dining room with a stained-glass light fixture, two well-sized bedrooms, a bonus room ideal for an office or den, and a full bathroom complete with a historic clawfoot tub. The second-floor apartment features a stunning large stained-glass window, a spacious foyer with built-ins, a living room featuring a decorative fireplace, and a kitchenette. This apartment includes three nicely sized bedrooms, all with ample closet space. Additionally, there is a separate room and closet outside the current apartment footprint that could potentially serve as a second-floor laundry area or additional storage. The third-floor apartment offers a versatile open living space with two skylights, a quaint kitchen with access to a fire escape, a full bathroom with a clawfoot tub, and a large bedroom with closet. Off this unit is a substantial unfinished attic space. The property includes a driveway with off-street parking, a garage, and all appliances currently on the premises are included in the sale. The lot size is 0.12 acres and the property size is 3726 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Restaurant Realty agency Dental Office Spa & Massage Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.585327
    Latitude
    43.14881

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    FAQs

    What type of property is this?
    Triplex - Sprawling Victorian triplex in Rochester's Historic Park Avenue Neighborhood.
    Where is this triplex located?
    The property is located at 2 Thayer St Rochester, NY.
    What is the asking price?
    The asking price for this property is $300,000.
    What are key features of this property?
    This property features: - Historic Victorian in the desirable Historic Park Avenue Neighborhood, offering character and equity-building potential.; - Three separate apartments provide income potential or multi-generational living options.; - Features original details such as natural woodwork, pocket doors, stained-glass windows, and clawfoot tubs.
    (585) 362-8900
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    2 Thayer St Rochester, NY 14607
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2 Thayer St Rochester, NY 14607
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    We can help!
    Listing Contact
    Dayna Orione-Kim
    Real Estate License ID: 10401352226
    (585) 362-8900
    Learn more
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