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    Three-Unit Separately Metered Building Title is generated by Realmo AI

    31 Genesee Street, Geneva, NY 14456

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    New
    For Sale
    $325,000

    MULTI_FAMILY - Other - Geneva, NY

    Property size:
    3,366 SF
    Lot size:
    0.28 Acres
    Price / SF:
    $96/SF
    Added:
    Jun 5, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 5 at 4:06 pm

    Property Features for 31 Genesee Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    3
    Rooms
    Bedroom 5, Bedroom 4, Bedroom 3, Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 6, Bedroom 2, Bedroom 1, Basement
    Patio and Porch features
    Deck, Porch
    Interior features
    ProgrammableThermostat
    Exterior features
    Deck
    Standard status
    Active
    APN
    320500-104-026-0001-046-000-0000
    Size
    3,366 SF
    Lot size
    0.28 Acres

    Taxes and HOA fees

    Tax Annual Amount
    5320

    Utilities

    Heating system
    Hot Water(Heating), Natural Gas
    Water source
    Public

    Building Details

    Year built
    1880
    Floors in Building
    2
    Number of units
    3
    Flooring type
    Tile, Vinyl, Varies, Hardwood
    Building materials
    Brick
    Roof type
    Rubber, Membrane
    Architectural style
    Other

    We can help!

    Listing Contact
    Evan Schaefer
    Evan Schaefer

    Listing agent Evan Schaefer License #10301220657

    Listing office NORCHAR, LLC 389 Park Ave, Rochester, NY

    Listing date Jun 5, 2026

    MLS# R1688056 Listing URL

    Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Fully occupied 3‑family property with three separately metered 2‑bedroom, 1‑bath apartments
    • In‑place NOI of $34,575/year and an 11% cap rate on current operations (per provided remarks)
    • Keypad entry and a secured utility room for mechanicals and owner storage
    • New membrane roof, newer boiler and hot water heater, and a new sewer line from the street
    • Includes landlord‑owned appliances at closing; tenants pay internet and electric in addition to rent
    • Public utilities available, with a hot water (natural gas) heating system; built in 1880

    Overview

    This three-unit triplex is arranged with three separately metered two-bedroom, one-bath apartments across three levels. Each unit has its own access point, and the upper apartment includes a private rear stairway entrance plus a dedicated mudroom/storage area. The main level includes a shared storage room for larger items accessible to Apartments 2 and 3. Building entry is managed with keypad access, and there is a secured utility room used for mechanicals and owner storage. Landlord-owned appliances are included at closing.

    The property is fully occupied and professionally managed by a local management company, which could continue oversight after a new owner takes over. Tenants pay for internet and electric in addition to rent. Reported improvements include a new sewer line from the street, a new membrane roof, and a newer boiler and hot water heater, and the transaction will include a fresh Certificate of Occupancy.

    For buyers seeking a stabilized, low-capex residential income property with three distinct, metered apartment spaces, this setup offers straightforward unit separation and established operations. The presence of key operational controls, secured mechanical storage, and recent major updates may help reduce near-term maintenance concerns while maintaining continued occupancy.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Geneva
    County
    Ontario
    State
    New York
    Longitude
    -76.983572
    Latitude
    42.874506

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    FAQs

    What type of property is this?
    Triplex - Fully occupied triplex with three separately metered two-bedroom apartments and updates including roof, sewer line, and mechanicals.
    Where is this triplex located?
    The property is located at 31 Genesee Street Geneva, NY.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: Fully occupied 3‑family property with three separately metered 2‑bedroom, 1‑bath apartments; In‑place NOI of $34,575/year and an 11% cap rate on current operations (per provided remarks); Keypad entry and a secured utility room for mechanicals and owner storage
    (585) 337-1764
    We can help!
    Listing Contact
    Evan Schaefer
    Evan Schaefer
    Real Estate License ID: 10301220657
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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