Two-Unit Duplex with
New
For Sale
$349,000
27 Cypress St, Rochester, NY 14620
Vacant duplex with updated interiors, separate utilities, and flexible space across both apartments.
Property Size1,624 SF
Days on Market2
Property Features for 27 Cypress St
General Information
Standard status
Active
Size
1,624 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,871
Amenities
deck
Building Details
Building Size
1,624 SF
Year Built
1920
Buildings
1
Stories
2
Units
2
Listing Agency:
(585) 469-4265
Listed By:
Jodine R. Utter
(585) 469-4265
Source:
Elliman
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 20 at 7:41AM
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 Jodine R. Utter
Investment Insights
Based on property information with market context.
Built in 1920, this two-unit duplex includes two apartments, each with 2 bedrooms and 1 full bath. Hardwood floors run throughout, while both units offer modern kitchens with appliances and updated bathrooms. The lower apartment adds a bonus room, and the upper apartment includes a deck for additional living space.
The property has separate utilities, vinyl siding, and a 2.5-car detached garage. Both apartments are currently vacant, allowing immediate flexibility for an owner occupant or investor. Located at 27 Cypress St in Rochester’s South Wedge neighborhood, the property is near restaurants, shops, and parks. The location also carries a bikeScore of 93 and a transitScore of 41.
The property has separate utilities, vinyl siding, and a 2.5-car detached garage. Both apartments are currently vacant, allowing immediate flexibility for an owner occupant or investor. Located at 27 Cypress St in Rochester’s South Wedge neighborhood, the property is near restaurants, shops, and parks. The location also carries a bikeScore of 93 and a transitScore of 41.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 full bath
- Hardwood floors throughout both units
- Modern, fully applianced kitchens and updated bathrooms
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
$18,690
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
5.36%
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%
$373,800
$373.8K
Cap Rate 7%
$267,000
$267.0K
Cap Rate 9%
$207,667
$207.7K
Market Conditions
NOI Build-Up for 1,624 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
$28.3K $17.40/SF
− Vacancy
−$1.6K −$0.96/SF
EGI
$26.7K $16.44/SF
− OpEx
−$8.0K −$4.93/SF
NOI
$18.7K $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%
$373,800
Cap Rate 7%
$267,000
Cap Rate 9%
$207,667
Alternative Uses
Best Use
Multifamily LT 5
$267.0K
$233.6K – $311.5K
NOI $18,690 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$238.0K
$208.3K – $277.7K
NOI $16,660 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$444.9K
$389.3K – $519.0K
NOI $31,142 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,120
Businesses Nearby
Explore this area
Business Placement
Demographics for 14620, NY
24,185
Population
13,060
Households
1.9
Avg Household Size
35
Median Age
56%
College-Educated
92%
High-School Grad
4.4 sq mi
ZIP Area
5,497
Density / Sq Mi
$59,525
Median Household Income
$40,467
Median Earnings
$1,193
Median Rent
$197,700
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 - Vacant duplex with updated interiors, separate utilities, and flexible space across both apartments.
Where is this duplex located?
The property is located at 27 Cypress St Rochester, NY.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 full bath; Hardwood floors throughout both units; Modern, fully applianced kitchens and updated bathrooms
