Renovated Duplex with Income
For Sale
Contact for pricing
Pending
20 East St, Honeoye Falls, NY 14472
Fully renovated duplex with two units and off-street parking.
Property Size1,500 SF
Days on Market145
Property Features for 20 East St
General Information
Standard status
Pending
Size
1,500 SF
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Building Details
Year Built
1950
Year Renovated
2023
Buildings
1
Stories
2
Units
2
Listing Agency:
Cushman & Wakefield Pyramid Brokerage Company - Fairport, New York
(585) 248-9426
Listed By:
Christopher Crowe · License #10401396175
Source:
Crexi
Added: Mar 20
Changed: Aug 8
Last Checked: Jul 24 at 2:01PM
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 Cushman & Wakefield Pyramid Brokerage Company - Fairport, New York
Investment Insights
Based on property information with market context.
This is a fully renovated duplex, originally constructed in 1950 and extensively upgraded beginning in 2022 with approximately $300,000 in capital improvements. The property, with approximately 1,500 square feet, features two units: a 1-bedroom unit on the first floor and a 2-bedroom unit on the second floor. Each unit includes one dedicated off-street parking space. Landlord responsibilities are limited to water and a single electric service for common areas and shared lighting. Renovations include updates to insulation, electrical systems and panels, windows, gutters, doors, plumbing, HVAC, interior finishes, and exterior decks. The roof was replaced approximately five years ago, and the northwest foundation corner has undergone structural reinforcement. The asset delivers stable, in-place residential income with minimal deferred maintenance and a clean operational profile.
Key Highlights
- Fully renovated with approximately $300,000 in capital improvements starting in 2022.
- Two units: a 1‑bedroom and a 2‑bedroom, providing immediate rental income.
- Each unit includes one dedicated off‑street parking space.
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
$13,983
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
4.00%
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%
$279,660
$279.7K
Cap Rate 7%
$199,757
$199.8K
Cap Rate 9%
$155,367
$155.4K
Market Conditions
NOI Build-Up for 1,500 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
$20.7K $13.80/SF
− Vacancy
−$725 −$0.48/SF
EGI
$20.0K $13.32/SF
− OpEx
−$6.0K −$4.00/SF
NOI
$14.0K $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%
$279,660
Cap Rate 7%
$199,757
Cap Rate 9%
$155,367
Alternative Uses
Best Use
Multifamily LT 5
$199.8K
$174.8K – $233.1K
NOI $13,983 @ 7.0% cap · market cap 4.00%
Second Best
Apartment 5plus
$180.4K
$157.9K – $210.5K
NOI $12,630 @ 7.0% cap · market cap 3.61%
Theoretical Best
Specialty Retail
$288.0K
$252.0K – $336.0K
NOI $20,157 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
344
Businesses Nearby
Explore this area
Business Placement
Demographics for 14472, NY
8,566
Population
3,524
Households
2.4
Avg Household Size
46
Median Age
62%
College-Educated
98%
High-School Grad
44.1 sq mi
ZIP Area
194
Density / Sq Mi
$128,456
Median Household Income
$65,241
Median Earnings
$1,055
Median Rent
$330,100
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 - Fully renovated duplex with two units and off-street parking.
Where is this duplex located?
The property is located at 20 East St Honeoye Falls, NY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Fully renovated with approximately $300,000 in capital improvements starting in 2022.; Two units: a 1‑bedroom and a 2‑bedroom, providing immediate rental income.; Each unit includes one dedicated off‑street parking space.
