Three-Story Multifamily
For Sale
$250,000
1067 Dewey Ave, Rochester, NY 14613
Updated exterior, added improvements, and a new roof distinguish this three-story residential income property.
Property Size2,150 SF
Price / SF$116.28
Days on Market8
Property Features for 1067 Dewey Ave
General Information
Standard status
Active
Size
2,150 SF
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,441
Building Details
Building Size
2,150 SF
Year Built
1910
Stories
3
Units
2
Listing Agency:
(585) 471-9561
Listed By:
DeQuan Drake
(585) 471-9561
Source:
Elliman
Added: Aug 14
Changed: Aug 21
Last Checked: Aug 21 at 7:59AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of DeQuan Drake
Investment Insights
Based on property information with market context.
This multifamily property at 1067 Dewey Ave comprises 2,150 square feet across three stories. The layout includes four bedrooms and three full bathrooms, with natural light throughout the home. Exterior updates, additions, and a new roof contribute to the property’s current physical profile.
The property is in Rochester, NY, near neighborhood amenities and parks, with highway access available for regional commuting. Walk Score is 55, Bike Score is 75, and Transit Score is 42, reflecting a somewhat walkable, very bikeable setting with some transit service.
The property is in Rochester, NY, near neighborhood amenities and parks, with highway access available for regional commuting. Walk Score is 55, Bike Score is 75, and Transit Score is 42, reflecting a somewhat walkable, very bikeable setting with some transit service.
Key Highlights
- 2,150‑square‑foot multifamily property arranged across 3 stories
- 4 bedrooms and 3 full bathrooms
- Newly updated exterior with additions
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,056
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$441,120
$441.1K
Cap Rate 7%
$315,086
$315.1K
Cap Rate 9%
$245,067
$245.1K
Market Conditions
NOI Build-Up for 2,150 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$42.6K $19.80/SF
− Vacancy
−$2.5K −$1.15/SF
EGI
$40.1K $18.65/SF
− OpEx
−$18.0K −$8.39/SF
NOI
$22.1K $10.26/SF
Area
Rochester, NY
Vacancy
5.80%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$441,120
Cap Rate 7%
$315,086
Cap Rate 9%
$245,067
Alternative Uses
Best Use
Apartment 5plus
$315.1K
$275.7K – $367.6K
NOI $22,056 @ 7.0% cap · market cap 8.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$589.0K
$515.4K – $687.1K
NOI $41,228 @ 7.0% cap · market cap 16.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
481
Businesses Nearby
Explore this area
Business Placement
Demographics for 14613, NY
14,882
Population
6,561
Households
2.3
Avg Household Size
31
Median Age
14%
College-Educated
77%
High-School Grad
1.9 sq mi
ZIP Area
7,833
Density / Sq Mi
$33,370
Median Household Income
$29,530
Median Earnings
$939
Median Rent
$108,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Updated exterior, added improvements, and a new roof distinguish this three-story residential income property.
Where is this multifamily property located?
The property is located at 1067 Dewey Ave Rochester, NY.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 2,150‑square‑foot multifamily property arranged across 3 stories; 4 bedrooms and 3 full bathrooms; Newly updated exterior with additions
