Meigs Street Triplex Investment
262 Meigs St, Rochester, NY 14607
For Sale
$349,777
Pending
Updated triplex with new features, ideal for investment or owner-occupancy.
Property Size2,550 SF
Lot Size0.14 Acres
Days on Market244
Property Features for 262 Meigs St
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listed By:
Kevin P. Crego · License NY #3312507
(585) 506-7151
Source:
Elliman
Added: Mar 11
Changed: Oct 30
Last Checked: Nov 8 at 6:52AM
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 Kevin P. Crego
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Investment Insights
Based on property information with market context.
Located at 262 Meigs St, Rochester, NY 14607, this triplex presents an investment opportunity. The property features a new kitchen with new cabinets and appliances, as well as new bathrooms. The flooring has been updated, and the hardwood floors have been refinished. Vinyl replacement windows have been installed, and the property has been freshly painted. A new front porch has been added, along with new plumbing, a new 90% high-efficiency furnace, and a new laundry area with a sink. This residential income property is suitable for generating rental income or for an owner to live in one unit and rent out the others.
Key Highlights
- Turnkey investment property or owner‑occupied with rental income potential.
- Completely renovated: new kitchen, bathrooms, flooring, and refinished hardwood floors.
- New, energy‑efficient 90% high‑efficiency furnace.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,348
Cap Rate
8.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$586,960
$587.0K
Cap Rate 7%
$419,257
$419.3K
Cap Rate 9%
$326,089
$326.1K
Market Conditions
NOI Build-Up for 2,550 SF
Gross rent
$44.4K $17.40/SF
− Vacancy
−$2.4K −$0.96/SF
EGI
$41.9K $16.44/SF
− OpEx
−$12.6K −$4.93/SF
NOI
$29.3K $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 Rate 5%
$586,960
Cap Rate 7%
$419,257
Cap Rate 9%
$326,089
Alternative Uses
Best Use
Multifamily LT 5
$419.3K
$366.9K – $489.1K
NOI $29,348 @ 7.0% cap · market cap 8.39%
Second Best
Apartment 5plus
$373.7K
$327.0K – $436.0K
NOI $26,159 @ 7.0% cap · market cap 7.48%
Theoretical Best
Office A
$698.6K
$611.2K – $815.0K
NOI $48,899 @ 7.0% cap · market cap 13.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,887
Businesses Nearby
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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
$304,100
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Rochester, NY
Properties on Market for Triplexes in Rochester
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Updated triplex with new features, ideal for investment or owner-occupancy.
Where is this triplex located?
The property is located at 262 Meigs St Rochester, NY.
What is the asking price?
The asking price for this property is $349,777.
What are key features of this property?
This property features: Turnkey investment property or owner‑occupied with rental income potential.; Completely renovated: **new kitchen, bathrooms, flooring, and refinished hardwood floors.**; New, energy‑efficient 90% high‑efficiency furnace.
