Updated Triplex with Private
For Sale
$488,900
399 E University Avenue W, Rochester, NY 14607
Residential, Rochester, NY
Property Size2,628 SF
Lot Size0.11 Acres
Price / SF$186.04
Days on Market112
Property Features for 399 E University Avenue W
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bathroom 3, Bedroom 5, Bathroom 4, Bedroom 6, Bedroom 2, Basement, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 1
Patio and Porch features
Porch
Interior features
CeilingFans
Exterior features
Fence
Fencing
Fenced
Appliances
GasWaterHeater
Subdivision
Laidlaw Resub
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Rochester
Middle school district
Rochester
High school district
Rochester
Standard status
Active
APN
261400-106-820-0002-033-000-0000
Size
2,628 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
8659
Utilities
Heating system
Natural Gas, Steam
Cooling system
Window Unit(s)
Water source
Public
Amenities
private porch
in-unit laundry
laundry access
Building Details
Year built
1920
Floors in Building
2
Number of units
3
Flooring type
Hardwood, Laminate, Varies, Tile
Building materials
VinylSiding, CopperPlumbing
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Realty Greater Rochester
(585) 362-8900
Listed By:
Charity J. Traub · License #10401352033
(585) 360-5558
Added: Jun 6
Changed: Sep 24
Last Checked: Sep 25 at 5:06AM
MLS# R1688322
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.
Investment Insights
Based on property information with market context.
This Rochester triplex contains 2,628 square feet across three apartments. The first-floor residence has three bedrooms, two full bathrooms, a private porch, and in-unit laundry. The upper level includes a two-bedroom, one-bath apartment and a separate one-bedroom, one-bath unit with basement laundry access. Updated kitchens and bathrooms are complemented by laminate, tile, and hardwood flooring, fresh interior finishes, updated windows, and gutters.
Built in 1920 on a 0.11-acre lot, the property also features individual electrical panel boxes, vinyl siding, copper plumbing, a fenced exterior, an asphalt shingle roof, natural gas and steam heating, window-unit cooling, and public water. The basement provides additional functional space, while the unit mix supports flexible occupancy across the building.
Built in 1920 on a 0.11-acre lot, the property also features individual electrical panel boxes, vinyl siding, copper plumbing, a fenced exterior, an asphalt shingle roof, natural gas and steam heating, window-unit cooling, and public water. The basement provides additional functional space, while the unit mix supports flexible occupancy across the building.
Key Highlights
- 2,628‑square‑foot triplex on a 0.11‑acre lot
- Three‑unit layout: 3‑bedroom/2‑bath, 2‑bedroom/1‑bath, and 1‑bedroom/1‑bath apartments
- First‑floor unit includes a private porch and in‑unit laundry
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
$30,245
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
6.19%
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%
$604,900
$604.9K
Cap Rate 7%
$432,071
$432.1K
Cap Rate 9%
$336,056
$336.1K
Market Conditions
NOI Build-Up for 2,628 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
$45.7K $17.40/SF
− Vacancy
−$2.5K −$0.96/SF
EGI
$43.2K $16.44/SF
− OpEx
−$13.0K −$4.93/SF
NOI
$30.2K $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%
$604,900
Cap Rate 7%
$432,071
Cap Rate 9%
$336,056
Alternative Uses
Best Use
Multifamily LT 5
$432.1K
$378.1K – $504.1K
NOI $30,245 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$385.1K
$337.0K – $449.3K
NOI $26,959 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$719.9K
$629.9K – $839.9K
NOI $50,395 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,712
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
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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?
Triplex - Three apartments offer updated kitchens and baths, separate electrical panels, and laundry access for residents.
Where is this triplex located?
The property is located at 399 E University Avenue W Rochester, NY.
What is the asking price?
The asking price for this property is $488,900.
What are key features of this property?
This property features: 2,628‑square‑foot triplex on a 0.11‑acre lot; Three‑unit layout: 3‑bedroom/2‑bath, 2‑bedroom/1‑bath, and 1‑bedroom/1‑bath apartments; First‑floor unit includes a private porch and in‑unit laundry
