Vacant Duplex with Private
For Sale
$399,000
2 Upton Park, Rochester, NY 14607
Two separate apartments include a three-bedroom lower unit and a one-bedroom upper unit.
Property Size2,437 SF
Price / SF$163.73
Days on Market13
Property Features for 2 Upton Park
General Information
Standard status
Active
Size
2,437 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR, 1 x 1BR
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$8,198
Amenities
private yard
off-street parking
hardwood floors
tall ceilings
separate utilities
Building Details
Building Size
2,437 SF
Year Built
1910
Buildings
1
Stories
2
Units
2
Listed By:
Zach Warner · License #10401371550
(585) 315-3371
Source:
Elliman
Added: Sep 11
Changed: Sep 20
Last Checked: Sep 22 at 7:31PM
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 Zach Warner
Investment Insights
Based on property information with market context.
Built in 1910, this vacant two-family property contains 2,437 square feet arranged as a three-bedroom first-floor apartment and a one-bedroom upper apartment. Interior features include hardwood floors and tall ceilings, while separate utilities support the duplex configuration. New water tanks have been installed.
The property includes a private yard, off-street parking, and side-street access. Located at 2 Upton Park in Rochester, the home is near East Avenue, the Neighborhood of the Arts, and Park Avenue, with restaurants, cafés, and cultural destinations nearby. Walk Score is 91, Bike Score is 77, and Transit Score is 52.
The property includes a private yard, off-street parking, and side-street access. Located at 2 Upton Park in Rochester, the home is near East Avenue, the Neighborhood of the Arts, and Park Avenue, with restaurants, cafés, and cultural destinations nearby. Walk Score is 91, Bike Score is 77, and Transit Score is 52.
Key Highlights
- 2,437‑square‑foot vacant duplex with three‑bedroom and one‑bedroom apartments
- Private yard with off‑street parking and side‑street access
- Separate utilities support the two‑apartment layout
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
$28,047
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
7.03%
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%
$560,940
$560.9K
Cap Rate 7%
$400,671
$400.7K
Cap Rate 9%
$311,633
$311.6K
Market Conditions
NOI Build-Up for 2,437 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
$42.4K $17.40/SF
− Vacancy
−$2.3K −$0.96/SF
EGI
$40.1K $16.44/SF
− OpEx
−$12.0K −$4.93/SF
NOI
$28.0K $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%
$560,940
Cap Rate 7%
$400,671
Cap Rate 9%
$311,633
Alternative Uses
Best Use
Multifamily LT 5
$400.7K
$350.6K – $467.5K
NOI $28,047 @ 7.0% cap · market cap 7.03%
Second Best
Apartment 5plus
$357.1K
$312.5K – $416.7K
NOI $25,000 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$667.6K
$584.2K – $778.9K
NOI $46,732 @ 7.0% cap · market cap 11.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,772
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 separate apartments include a three-bedroom lower unit and a one-bedroom upper unit.
Where is this duplex located?
The property is located at 2 Upton Park Rochester, NY.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2,437‑square‑foot vacant duplex with three‑bedroom and one‑bedroom apartments; Private yard with off‑street parking and side‑street access; Separate utilities support the two‑apartment layout
