Remodeled Two-Family
For Sale
$289,900
Pending
28 Rundel Park, Rochester, NY 14607
Updated duplex with two-bedroom units and a vacant second-floor residence.
Property Size2,216 SF
Days on Market82
Property Features for 28 Rundel Park
General Information
Standard status
Pending
Size
2,216 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,135
Building Details
Building Size
2,216 SF
Year Built
1900
Buildings
1
Listing Agency:
Howard Hanna
Listed By:
Richard W. Sarkis · License #30SA0517501
(585) 756-7281
Source:
Griffith-realty
Added: Jul 6
Changed: Sep 19
Last Checked: Sep 24 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 Howard Hanna
Investment Insights
Based on property information with market context.
This two-family property, built in 1900, has undergone substantial remodeling since 2021. Both residences offer two bedrooms, hardwood flooring, high ceilings, and strong natural light. The second-floor unit is vacant, providing immediate flexibility for an owner occupant or incoming tenant.
The property is located on Rundel Park in Rochester’s Neighborhood of the Arts, within the East Avenue and Park Avenue corridor. Nearby destinations identified for the property include the George Eastman House, Rochester Museum & Science Center, Strasenburgh Planetarium, and Strathallan Hotel.
The configuration combines two residential units with updated interiors and a ready-to-use upper residence, supporting either continued rental operation or an owner-occupancy approach.
The property is located on Rundel Park in Rochester’s Neighborhood of the Arts, within the East Avenue and Park Avenue corridor. Nearby destinations identified for the property include the George Eastman House, Rochester Museum & Science Center, Strasenburgh Planetarium, and Strathallan Hotel.
The configuration combines two residential units with updated interiors and a ready-to-use upper residence, supporting either continued rental operation or an owner-occupancy approach.
Key Highlights
- Two‑family property built in 1900
- Both units include two bedrooms
- Remodeled since 2021
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
$25,504
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
8.80%
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%
$510,080
$510.1K
Cap Rate 7%
$364,343
$364.3K
Cap Rate 9%
$283,378
$283.4K
Market Conditions
NOI Build-Up for 2,216 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
$38.6K $17.40/SF
− Vacancy
−$2.1K −$0.96/SF
EGI
$36.4K $16.44/SF
− OpEx
−$10.9K −$4.93/SF
NOI
$25.5K $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%
$510,080
Cap Rate 7%
$364,343
Cap Rate 9%
$283,378
Alternative Uses
Best Use
Multifamily LT 5
$364.3K
$318.8K – $425.1K
NOI $25,504 @ 7.0% cap · market cap 8.80%
Second Best
Apartment 5plus
$324.8K
$284.2K – $378.9K
NOI $22,733 @ 7.0% cap · market cap 7.84%
Theoretical Best
Office A
$607.1K
$531.2K – $708.2K
NOI $42,494 @ 7.0% cap · market cap 14.66%
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
Location Intelligence
Trade Area within ½ mile
2,289
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 - Updated duplex with two-bedroom units and a vacant second-floor residence.
Where is this duplex located?
The property is located at 28 Rundel Park Rochester, NY.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Two‑family property built in 1900; Both units include two bedrooms; Remodeled since 2021
