3-Unit Triplex with
New
For Sale
$525,000
111 Argyle St, Rochester, NY 14607
Three apartments feature separate utilities, updated kitchens and baths, and basement laundry.
Property Size3,274 SF
Days on Market2
Property Features for 111 Argyle St
General Information
Standard status
Active
Size
3,274 SF
Total Parking Spaces
5
Property subtype
Multi Family
Financials
Cap Rate
8.2%
Gross Income
$64,680
Units
Unit Mix
2 x 2BR, 1 x 1BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,186
Amenities
hardwood floors
natural woodwork
leaded glass
decorative fireplaces
front porch
updated kitchens
updated baths
granite countertops
separate utilities
laundry facility in basement
Building Details
Building Size
3,274 SF
Year Built
1900
Buildings
1
Stories
3
Units
3
Listing Agency:
Howard Hanna
Listed By:
Richard L. Leasure · License #30LE1170357
(585) 729-2500
Source:
Elliman
Added: Oct 1
Last Checked: Oct 1 at 2:09PM
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 Howard Hanna
Investment Insights
Based on property information with market context.
This Rochester triplex contains two two-bedroom apartments, including one with two full baths, plus a one-bedroom apartment on the third floor. Kitchens and bathrooms have been updated, and granite countertops are included. Original details include hardwood flooring, natural woodwork, leaded glass, decorative fireplaces, and a large front porch. Utilities are separately metered, and laundry facilities are located in the basement. The exterior has fresh paint, and the property includes a new five-car parking lot.
The building is two doors from Park Avenue, with cafes, restaurants, and shops nearby. Its Certificate of Occupancy remains valid through 1/13/2028, and the property has an 8.2% cap rate. The units comprise two two-bedroom apartments and one third-floor one-bedroom apartment.
The building is two doors from Park Avenue, with cafes, restaurants, and shops nearby. Its Certificate of Occupancy remains valid through 1/13/2028, and the property has an 8.2% cap rate. The units comprise two two-bedroom apartments and one third-floor one-bedroom apartment.
Key Highlights
- Three apartments: two two‑bedroom units and one third‑floor one‑bedroom unit
- One two‑bedroom apartment has two full baths
- Updated kitchens and baths with granite countertops
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
$37,680
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
7.18%
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%
$753,600
$753.6K
Cap Rate 7%
$538,286
$538.3K
Cap Rate 9%
$418,667
$418.7K
Market Conditions
NOI Build-Up for 3,274 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
$57.0K $17.40/SF
− Vacancy
−$3.1K −$0.96/SF
EGI
$53.8K $16.44/SF
− OpEx
−$16.1K −$4.93/SF
NOI
$37.7K $11.51/SF
Area
Rochester, NY
Vacancy
5.51%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
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%
$753,600
Cap Rate 7%
$538,286
Cap Rate 9%
$418,667
Alternative Uses
Best Use
Multifamily LT 5
$538.3K
$471.0K – $628.0K
NOI $37,680 @ 7.0% cap · market cap 7.18%
Second Best
Apartment 5plus
$479.8K
$419.8K – $559.8K
NOI $33,586 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$896.9K
$784.8K – $1.05M
NOI $62,782 @ 7.0% cap · market cap 11.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,338
Businesses Nearby
Explore this area
Business Placement
Demographics for 14607, NY
16,298
Population
11,971
Households
1.4
Avg Household Size
32
Median Age
60%
College-Educated
95%
High-School Grad
1.7 sq mi
ZIP Area
9,587
Density / Sq Mi
$56,270
Median Household Income
$44,018
Median Earnings
$1,129
Median Rent
$304,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three apartments feature separate utilities, updated kitchens and baths, and basement laundry.
Where is this triplex located?
The property is located at 111 Argyle St Rochester, NY.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Three apartments: two two‑bedroom units and one third‑floor one‑bedroom unit; One two‑bedroom apartment has two full baths; Updated kitchens and baths with granite countertops
