Character Multifamily
For Sale
$340,000
2568 Dewey Avenue, Rochester, NY 14616
Maintained residential property with flexible interior living arrangements and a finished basement.
Property Size2,617 SF
Days on Market8
Property Features for 2568 Dewey Avenue
General Information
Standard status
Active
Size
2,617 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$4,761
Amenities
fully fenced yard with privacy fence
sun room
home office
finished basement with full bath
Building Details
Building Size
2,617 SF
Year Built
1920
Listing Agency:
RE/MAX Realty Group
Listed By:
Derek Pino · License #10401312251
(585) 368-8306
Source:
Highfallssir
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 24 at 5:07PM
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 RE/MAX Realty Group
Investment Insights
Based on property information with market context.
Built in 1920, this multifamily property offers a character-rich interior with crown molding, arched openings, leaded glass, hardwood and tile flooring, and newer windows. The layout includes a large living room, sunroom, home office, formal dining room, open kitchen with stainless steel appliances, and a first-floor primary bedroom. A finished basement adds another full bath, while the second floor provides additional flexibility for household or multifamily use.
Exterior features include a fully fenced yard with privacy fencing and a 2.5-car garage. The property is located at 2568 Dewey Avenue in Rochester, NY 14616.
Exterior features include a fully fenced yard with privacy fencing and a 2.5-car garage. The property is located at 2568 Dewey Avenue in Rochester, NY 14616.
Key Highlights
- 1920 construction with crown molding, arched openings, and leaded glass
- First‑floor primary bedroom supports convenient single‑level living
- Finished basement includes another full bath
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
$26,846
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
7.90%
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%
$536,920
$536.9K
Cap Rate 7%
$383,514
$383.5K
Cap Rate 9%
$298,289
$298.3K
Market Conditions
NOI Build-Up for 2,617 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
$51.8K $19.80/SF
− Vacancy
−$3.0K −$1.15/SF
EGI
$48.8K $18.65/SF
− OpEx
−$22.0K −$8.39/SF
NOI
$26.8K $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%
$536,920
Cap Rate 7%
$383,514
Cap Rate 9%
$298,289
Alternative Uses
Best Use
Apartment 5plus
$383.5K
$335.6K – $447.4K
NOI $26,846 @ 7.0% cap · market cap 7.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$716.9K
$627.3K – $836.4K
NOI $50,184 @ 7.0% cap · market cap 14.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
313
Businesses Nearby
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Business Placement
Demographics for 14616, NY
27,946
Population
12,281
Households
2.3
Avg Household Size
40
Median Age
24%
College-Educated
90%
High-School Grad
5.9 sq mi
ZIP Area
4,737
Density / Sq Mi
$62,564
Median Household Income
$41,646
Median Earnings
$1,087
Median Rent
$136,100
Median Home Value
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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 - Maintained residential property with flexible interior living arrangements and a finished basement.
Where is this multifamily property located?
The property is located at 2568 Dewey Avenue Rochester, NY.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 1920 construction with crown molding, arched openings, and leaded glass; First‑floor primary bedroom supports convenient single‑level living; Finished basement includes another full bath
