3-Unit Triplex with Off-Street
New
For Sale
$499,000
115 Vassar Street, Rochester, NY 14607
Three apartments offer varied layouts, including a two-bedroom residence across the upper floors and a one-bedroom unit with a private entrance.
Property Size2,500 SF
Days on Market4
Property Features for 115 Vassar Street
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,054
Amenities
shared front porch
Building Details
Building Size
2,500 SF
Year Built
1900
Buildings
1
Listing Agency:
Canalside Realty LLC
Listed By:
Joseph V Thon · License #10491210763
(585) 314-7203
Source:
Griffith-realty
Added: Oct 12
Changed: Oct 15
Last Checked: Oct 15 at 2:39AM
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 Canalside Realty LLC
Investment Insights
Based on property information with market context.
Built in 1900, this triplex contains three apartments with distinct layouts. The first-floor residence has hardwood floors, a bay window, a galley kitchen, two bathrooms, and in-unit laundry. A second apartment occupies the second and third floors, with two bedrooms, an eat-in kitchen, and a separate living room. The third unit includes one bedroom, a private entrance, a small deck, and remodeled kitchen and bathroom finishes. A shared front porch and off-street parking for 6+ vehicles serve the property.
The property is on Vassar Street in Rochester’s Park Avenue neighborhood. A Certificate of Occupancy renewal is in process. Furnace replacements are reported for 2025 and 2026, and the third apartment’s hot water tank was replaced in October 2024.
The property is on Vassar Street in Rochester’s Park Avenue neighborhood. A Certificate of Occupancy renewal is in process. Furnace replacements are reported for 2025 and 2026, and the third apartment’s hot water tank was replaced in October 2024.
Key Highlights
- Three apartments with distinct layouts, including a two‑bedroom unit spanning the second and third floors
- Off‑street parking for 6+ vehicles
- First‑floor apartment has two bathrooms and a stacked washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,772
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$575,440
$575.4K
Cap Rate 7%
$411,029
$411.0K
Cap Rate 9%
$319,689
$319.7K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$43.5K $17.40/SF
− Vacancy
−$2.4K −$0.96/SF
EGI
$41.1K $16.44/SF
− OpEx
−$12.3K −$4.93/SF
NOI
$28.8K $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 Rate 5%
$575,440
Cap Rate 7%
$411,029
Cap Rate 9%
$319,689
Alternative Uses
Best Use
Multifamily LT 5
$411.0K
$359.7K – $479.5K
NOI $28,772 @ 7.0% cap · market cap 5.77%
Second Best
Apartment 5plus
$366.4K
$320.6K – $427.4K
NOI $25,646 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$684.9K
$599.3K – $799.0K
NOI $47,940 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,466
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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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three apartments offer varied layouts, including a two-bedroom residence across the upper floors and a one-bedroom unit with a private entrance.
Where is this triplex located?
The property is located at 115 Vassar Street Rochester, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Three apartments with distinct layouts, including a two‑bedroom unit spanning the second and third floors; Off‑street parking for 6+ vehicles; First‑floor apartment has two bathrooms and a stacked washer and dryer
