Waterfront Multifamily
New
For Sale
$734,900
187 Lake Front, Rochester, NY 14617
Residential, Rochester, NY
Property Size3,398 SF
Lot Size0.26 Acres
Price / SF$216.27
Days on Market5
Property Features for 187 Lake Front
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential Multi Use
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bathroom 3, Bathroom 1, Bedroom 4, Bathroom 2, Bathroom 4, Bedroom 1, Bedroom 3, Bedroom 5, Bedroom 7, Bedroom 2
Window features
Wood Frames
Patio and Porch features
Porch, Deck
Interior features
CeilingFans, SlidingGlassDoors
Exterior features
Awnings, Deck
Fireplace
1
Appliances
ElectricWaterHeater, GasWaterHeater, TanklessWaterHeater
Subdivision
Joseph Bietry Farm
Lot features
Rectangular, Rectangular Lot
Elementary school district
West Irondequoit
Middle school district
West Irondequoit
High school district
West Irondequoit
Standard status
Active
APN
263400-047-560-0001-017-000
Size
3,398 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Annual Amount
13159
Utilities
Heating system
Electric (Heating), Radiant, Baseboard, Natural Gas, Other (Heating)
Cooling system
Wall Unit(s)
Water source
Public
Water front features
Beach Access, Lake
Water front
1
Building Details
Year built
1908
Floors in Building
2
Number of units
3
Flooring type
Hardwood, Vinyl, Resilient, Carpet, Varies
Building materials
AtticCrawlHatchwaysInsulated, VinylSiding, WoodSiding, CopperPlumbing
Roof type
Asphalt, Shingle
Architectural style
Other
Listing Agency:
RE/MAX Realty Group · RE/MAX International
(585) 248-0250
Listed By:
John M. Rosati · License #40RO0623241
(585) 756-7478
Added: Sep 6
Changed: Sep 7
Last Checked: Sep 10 at 3:06AM
MLS# R1712634
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,398-square-foot multifamily property includes a waterfront primary home plus two additional residences, all situated on 0.26 acres. The main home features an open interior with hardwood flooring, vaulted ceilings, a kitchen with extensive cabinetry and counter space, a sunroom, two full bathrooms, first-floor laundry, a flexible-use room, and a full attic. An oversized deck with a retractable awning extends the living area outdoors, while a fireplace, wall-unit cooling, and public water add to the property’s features.
The property fronts Lake Ontario and includes beach access, with the address located in Rochester, NY 14617. Both additional homes contain two bedrooms. Built in 1908, the property also offers on-site parking, porch and deck areas, vinyl and wood siding, and asphalt shingle roofing.
The property fronts Lake Ontario and includes beach access, with the address located in Rochester, NY 14617. Both additional homes contain two bedrooms. Built in 1908, the property also offers on-site parking, porch and deck areas, vinyl and wood siding, and asphalt shingle roofing.
Key Highlights
- Lake Ontario waterfront setting with beach access
- Three‑home multifamily property on 0.26 acres
- 3,398 square feet of total property size
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
$34,858
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
4.74%
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%
$697,160
$697.2K
Cap Rate 7%
$497,971
$498.0K
Cap Rate 9%
$387,311
$387.3K
Market Conditions
NOI Build-Up for 3,398 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
$67.3K $19.80/SF
− Vacancy
−$3.9K −$1.15/SF
EGI
$63.4K $18.65/SF
− OpEx
−$28.5K −$8.39/SF
NOI
$34.9K $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%
$697,160
Cap Rate 7%
$497,971
Cap Rate 9%
$387,311
Alternative Uses
Best Use
Apartment 5plus
$498.0K
$435.7K – $581.0K
NOI $34,858 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$930.9K
$814.5K – $1.09M
NOI $65,160 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
Explore this area
Business Placement
Demographics for 14617, NY
22,599
Population
9,747
Households
2.3
Avg Household Size
43
Median Age
50%
College-Educated
97%
High-School Grad
7.9 sq mi
ZIP Area
2,861
Density / Sq Mi
$89,530
Median Household Income
$52,704
Median Earnings
$1,197
Median Rent
$179,100
Median Home Value
Check the figures for this property
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?
Multifamily property - Three-home Lake Ontario property with beach access, a spacious primary residence, and two additional two-bedroom homes.
Where is this multifamily property located?
The property is located at 187 Lake Front Rochester, NY.
What is the asking price?
The asking price for this property is $734,900.
What are key features of this property?
This property features: Lake Ontario waterfront setting with beach access; Three‑home multifamily property on 0.26 acres; 3,398 square feet of total property size
