Renovated Four-Unit
For Sale
$574,900
2891 State Route 444, Bloomfield, NY 14469
Includes a separate house, three apartments, and three garage parking spaces.
Property Size4,310 SF
Price / SF$133.39
Days on Market29
Property Features for 2891 State Route 444
General Information
Standard status
Active
Size
4,310 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1.5BA, 2 x 2BR/1BA, 1 x 3BR/2BA
Multifamily Units
4
Amenities
laundry room
Building Details
Year Built
1972
Buildings
2
Listing Agency:
Crane Realty
(585) 993-0999
Listed By:
Michael Crane · License #10491211912
Source:
Skinnercnyrealty
Added: Aug 1
Changed: Aug 28
Last Checked: Aug 28 at 1:06PM
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 Crane Realty
Investment Insights
Based on property information with market context.
This four-unit residential property combines a single-family home with a separate three-apartment building on one parcel. The house offers 3 bedrooms and 1.5 baths, along with an upgraded kitchen, new carpeting, mostly new windows, and a newly finished lower-level roof. One apartment is currently vacant.
The apartment building contains two 2-bedroom, 1-bath units and one 3-bedroom, 2-bath unit with an en suite bathroom. Renovations include new roofing, insulation, septic, plumbing, electrical systems, hot water heaters, LED lighting, luxury vinyl plank flooring, remodeled kitchens with butcher block countertops, updated bathrooms, 9-foot ceilings, and hardwired smoke detectors. The rear 3-bedroom unit has laundry hookups and side-yard access. A separate laundry room provides storage and two hookups wired and plumbed for coin-operated machines.
The property includes three garage parking spaces and backs directly to a park. It is located in the Bloomfield Central School District, with access to Victor, shopping, dining, and major commuter routes.
The apartment building contains two 2-bedroom, 1-bath units and one 3-bedroom, 2-bath unit with an en suite bathroom. Renovations include new roofing, insulation, septic, plumbing, electrical systems, hot water heaters, LED lighting, luxury vinyl plank flooring, remodeled kitchens with butcher block countertops, updated bathrooms, 9-foot ceilings, and hardwired smoke detectors. The rear 3-bedroom unit has laundry hookups and side-yard access. A separate laundry room provides storage and two hookups wired and plumbed for coin-operated machines.
The property includes three garage parking spaces and backs directly to a park. It is located in the Bloomfield Central School District, with access to Victor, shopping, dining, and major commuter routes.
Key Highlights
- Four units on one parcel: one single‑family home and three apartments
- Apartment mix includes two 2‑bedroom, 1‑bath units and one 3‑bedroom, 2‑bath unit
- House features 3 bedrooms, 1.5 baths, an upgraded kitchen, and mostly new windows
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
$49,200
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
8.56%
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%
$984,000
$984.0K
Cap Rate 7%
$702,857
$702.9K
Cap Rate 9%
$546,667
$546.7K
Market Conditions
NOI Build-Up for 4,310 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
$97.2K $22.56/SF
− Vacancy
−$7.8K −$1.80/SF
EGI
$89.5K $20.76/SF
− OpEx
−$40.3K −$9.34/SF
NOI
$49.2K $11.42/SF
Area
Ontario County, NY
Vacancy
8.00%
Lease Rate
$22.56 /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%
$984,000
Cap Rate 7%
$702,857
Cap Rate 9%
$546,667
Alternative Uses
Best Use
Multifamily LT 5
$788.5K
$690.0K – $920.0K
NOI $55,197 @ 7.0% cap · market cap 9.60%
Second Best
Apartment 5plus
$702.9K
$615.0K – $820.0K
NOI $49,200 @ 7.0% cap · market cap 8.56%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,303 @ 7.0% cap · market cap 15.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
Explore this area
Business Placement
Demographics for 14469, NY
6,265
Population
2,904
Households
2.2
Avg Household Size
49
Median Age
28%
College-Educated
95%
High-School Grad
66.0 sq mi
ZIP Area
95
Density / Sq Mi
$70,914
Median Household Income
$45,294
Median Earnings
$874
Median Rent
$188,700
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?
Quadplex - Includes a separate house, three apartments, and three garage parking spaces.
Where is this quadplex located?
The property is located at 2891 State Route 444 Bloomfield, NY.
What is the asking price?
The asking price for this property is $574,900.
What are key features of this property?
This property features: Four units on one parcel: one single‑family home and three apartments; Apartment mix includes two 2‑bedroom, 1‑bath units and one 3‑bedroom, 2‑bath unit; House features 3 bedrooms, 1.5 baths, an upgraded kitchen, and mostly new windows
