Side-by-Side Duplex with Two
New
For Sale
$225,000
164 - 166 Albert Street, Rochester, NY 14606
Two separately metered units offer private outdoor areas, a shared backyard, and ample off-street parking.
Property Size1,920 SF
Days on Market7
Property Features for 164 - 166 Albert Street
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Multi Family Home
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,823
Amenities
private rear patios
large backyard
Building Details
Building Size
1,920 SF
Year Built
1972
Buildings
1
Stories
2
Units
2
Listing Agency:
G & M Properties
(585) 568-7275
Listed By:
Eric S. McQuistion
(585) 568-7275
Source:
Homeprocny
Added: Aug 19
Changed: Aug 22
Last Checked: Aug 24 at 3:49PM
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 G & M Properties
Investment Insights
Based on property information with market context.
This side-by-side duplex, built in 1972, includes two residential units with matching layouts of 2 bedrooms, 1.5 baths, and approximately 960 square feet each. Both sides have private rear patios, access to a large backyard, and separate gas and electric meters. A double-wide driveway provides off-street parking for 6+ vehicles.
The right unit has updated kitchens and baths, newer appliances, replacement windows from 2021, and newer carpeting installed in 2024. The left unit has been freshly painted and received a new water heater in 2024. One side is occupied by a long-term tenant on a month-to-month lease, while the other is available for an owner-occupant or tenant.
The property is located at 164–166 Albert Street in Rochester, near expressways, shopping, restaurants, and everyday amenities.
The right unit has updated kitchens and baths, newer appliances, replacement windows from 2021, and newer carpeting installed in 2024. The left unit has been freshly painted and received a new water heater in 2024. One side is occupied by a long-term tenant on a month-to-month lease, while the other is available for an owner-occupant or tenant.
The property is located at 164–166 Albert Street in Rochester, near expressways, shopping, restaurants, and everyday amenities.
Key Highlights
- Two side‑by‑side units, each with 2 bedrooms, 1.5 baths, and approximately 960 sq. ft.
- Separate gas and electric meters for each unit
- Double‑wide driveway with off‑street parking for 6+ vehicles
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
$19,696
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
8.75%
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%
$393,920
$393.9K
Cap Rate 7%
$281,371
$281.4K
Cap Rate 9%
$218,844
$218.8K
Market Conditions
NOI Build-Up for 1,920 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
$38.0K $19.80/SF
− Vacancy
−$2.2K −$1.15/SF
EGI
$35.8K $18.65/SF
− OpEx
−$16.1K −$8.39/SF
NOI
$19.7K $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%
$393,920
Cap Rate 7%
$281,371
Cap Rate 9%
$218,844
Alternative Uses
Best Use
Multifamily LT 5
$315.7K
$276.2K – $368.3K
NOI $22,097 @ 7.0% cap · market cap 9.82%
Second Best
Apartment 5plus
$281.4K
$246.2K – $328.3K
NOI $19,696 @ 7.0% cap · market cap 8.75%
Theoretical Best
Office A
$526.0K
$460.2K – $613.6K
NOI $36,818 @ 7.0% cap · market cap 16.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
474
Businesses Nearby
Explore this area
Business Placement
Demographics for 14606, NY
28,252
Population
11,712
Households
2.4
Avg Household Size
39
Median Age
23%
College-Educated
83%
High-School Grad
9.4 sq mi
ZIP Area
3,006
Density / Sq Mi
$57,287
Median Household Income
$38,682
Median Earnings
$978
Median Rent
$150,500
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?
Duplex - Two separately metered units offer private outdoor areas, a shared backyard, and ample off-street parking.
Where is this duplex located?
The property is located at 164 - 166 Albert Street Rochester, NY.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two side‑by‑side units, each with 2 bedrooms, 1.5 baths, and approximately 960 sq. ft.; Separate gas and electric meters for each unit; Double‑wide driveway with off‑street parking for 6+ vehicles
