Updated Duplex with Walkout
New
For Sale
$500,000
167 S Main St Unit 2, Fairport, NY 14450
Flexible multi-level layout with separate living areas, upgraded systems, and three laundry rooms.
Property Size2,136 SF
Price / SF$234.08
Days on Market2
Property Features for 167 S Main St Unit 2
General Information
Standard status
Active
Size
2,136 SF
Property subtype
Multi-Family
Building Details
Year Built
1880
Abandoned
No
Listing Agency:
Howard Hanna
Listed By:
Kathy J. Goldschmidt-Ocorr
(585) 473-1320
Source:
Skinnercnyrealty
Added: Sep 5
Last Checked: Sep 5 at 2:41PM
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 Fairport duplex offers a flexible configuration across the main residence, upper apartment, and remodeled walkout basement. The main level includes four bedrooms, two full baths, and its own laundry area. Upstairs, the apartment provides two bedrooms, one bath, an eat-in kitchen, laundry, and access to a full walk-up attic. The basement adds two bedrooms, a full bath, separate entry, and laundry, with space identified for a kitchen. The property can accommodate owner occupancy or income-producing use, subject to applicable approvals.
Recent improvements include new windows, central air conditioning, three new laundry rooms, a new driveway, and more than $100,000 in completed work. Built in 1880, the 2,136-square-foot property is located on S Main St in the Village of Fairport, near the Erie Canal waterfront, restaurants, festivals, and walkable village amenities.
Recent improvements include new windows, central air conditioning, three new laundry rooms, a new driveway, and more than $100,000 in completed work. Built in 1880, the 2,136-square-foot property is located on S Main St in the Village of Fairport, near the Erie Canal waterfront, restaurants, festivals, and walkable village amenities.
Key Highlights
- 2,136‑square‑foot duplex in Fairport’s Village setting
- Main level includes 4 bedrooms, 2 full baths, and laundry
- Upper apartment offers 2 bedrooms, 1 bath, eat‑in kitchen, and laundry
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
$19,912
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
3.98%
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%
$398,240
$398.2K
Cap Rate 7%
$284,457
$284.5K
Cap Rate 9%
$221,244
$221.2K
Market Conditions
NOI Build-Up for 2,136 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
$29.5K $13.80/SF
− Vacancy
−$1.0K −$0.48/SF
EGI
$28.4K $13.32/SF
− OpEx
−$8.5K −$4.00/SF
NOI
$19.9K $9.32/SF
Area
Monroe County, NY
Vacancy
3.50%
Lease Rate
$13.80 /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%
$398,240
Cap Rate 7%
$284,457
Cap Rate 9%
$221,244
Alternative Uses
Best Use
Multifamily LT 5
$284.5K
$248.9K – $331.9K
NOI $19,912 @ 7.0% cap · market cap 3.98%
Second Best
Apartment 5plus
$256.9K
$224.8K – $299.8K
NOI $17,985 @ 7.0% cap · market cap 3.60%
Theoretical Best
Specialty Retail
$410.0K
$358.8K – $478.4K
NOI $28,703 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
726
Businesses Nearby
Explore this area
Business Placement
Demographics for 14450, NY
42,633
Population
19,054
Households
2.2
Avg Household Size
47
Median Age
60%
College-Educated
97%
High-School Grad
32.0 sq mi
ZIP Area
1,332
Density / Sq Mi
$109,543
Median Household Income
$62,613
Median Earnings
$1,258
Median Rent
$281,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Flexible multi-level layout with separate living areas, upgraded systems, and three laundry rooms.
Where is this duplex located?
The property is located at 167 S Main St Unit 2 Fairport, NY.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 2,136‑square‑foot duplex in Fairport’s Village setting; Main level includes 4 bedrooms, 2 full baths, and laundry; Upper apartment offers 2 bedrooms, 1 bath, eat‑in kitchen, and laundry
