Duplex with Finished Third-Floor
New
For Sale
$349,900
329 Field Street, Rochester, NY 14620
Two matching residential units are complemented by a finished upper-level area with a kitchen, full bath, and office room.
Property Size2,400 SF
Price / SF$145.79
Days on Market4
Property Features for 329 Field Street
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,150
Building Details
Building Size
2,400 SF
Year Built
1920
Buildings
1
Stories
3
Listing Agency:
RE/MAX Realty Group
Listed By:
Ben Kayes · License #10401271577
(585) 746-5366
Source:
Highfallssir
Added: Sep 29
Changed: Oct 1
Last Checked: Oct 1 at 12:04PM
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 RE/MAX Realty Group
Investment Insights
Based on property information with market context.
This 2,400-square-foot duplex, built in 1920, contains two matching three-bedroom, one-bathroom apartments, one on each of the first two floors. Both have formal living and dining rooms, gumwood details, and hardwood flooring. The first-floor apartment is vacant and features a tile-floored sunroom, an updated kitchen with stainless steel appliances, and a bathroom with a dual vanity and Corian counters. The occupied second-floor apartment follows the same layout.
A finished third-floor area adds laminate floors, new windows, a kitchen with stainless steel appliances and a beverage refrigerator, a full bathroom with a walk-in shower, and a small office room. The property also has a detached garage, a parking area, and a divided basement with separate laundry and storage areas for the two apartments.
A finished third-floor area adds laminate floors, new windows, a kitchen with stainless steel appliances and a beverage refrigerator, a full bathroom with a walk-in shower, and a small office room. The property also has a detached garage, a parking area, and a divided basement with separate laundry and storage areas for the two apartments.
Key Highlights
- 2,400‑square‑foot duplex built in 1920
- Two matching apartments, each with three bedrooms and one bathroom
- Vacant first‑floor apartment with tile sunroom and updated kitchen
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
$27,621
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
7.89%
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%
$552,420
$552.4K
Cap Rate 7%
$394,586
$394.6K
Cap Rate 9%
$306,900
$306.9K
Market Conditions
NOI Build-Up for 2,400 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
$41.8K $17.40/SF
− Vacancy
−$2.3K −$0.96/SF
EGI
$39.5K $16.44/SF
− OpEx
−$11.8K −$4.93/SF
NOI
$27.6K $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%
$552,420
Cap Rate 7%
$394,586
Cap Rate 9%
$306,900
Alternative Uses
Best Use
Multifamily LT 5
$394.6K
$345.3K – $460.4K
NOI $27,621 @ 7.0% cap · market cap 7.89%
Second Best
Apartment 5plus
$351.7K
$307.8K – $410.3K
NOI $24,620 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$657.5K
$575.3K – $767.0K
NOI $46,022 @ 7.0% cap · market cap 13.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
827
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two matching residential units are complemented by a finished upper-level area with a kitchen, full bath, and office room.
Where is this duplex located?
The property is located at 329 Field Street Rochester, NY.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 2,400‑square‑foot duplex built in 1920; Two matching apartments, each with three bedrooms and one bathroom; Vacant first‑floor apartment with tile sunroom and updated kitchen
