Triplex with Private First-Floor
For Sale
$499,900
399 E University Avenue W, Rochester, NY 14607
MULTI_FAMILY - Other - Rochester, NY
Property Size2,628 SF
Lot Size0.11 Acres
Price / SF$190.22
Days on Market67
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 3, Basement, Bedroom 5, Bathroom 3, Bathroom 1, Bedroom 6, Bedroom 1, Bathroom 4, Bedroom 4, Bathroom 2, Bedroom 2
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
Steam, Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Amenities
private porch
in-unit laundry
basement laundry access
Building Details
Year built
1920
Floors in Building
2
Number of units
3
Flooring type
Varies, Tile, Hardwood, Laminate
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: Aug 8
Last Checked: Aug 11 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 triplex was completely transformed and is move-in ready. The first-floor unit features three bedrooms, two full bathrooms, and a private porch, along with in-unit laundry. Upstairs, there is a spacious two-bedroom, one-bath apartment, and a separate one-bedroom, one-bath unit next door. The one-bedroom unit includes complimentary laundry access in the basement. Each unit includes updated kitchens and bathrooms.
Additional improvements include individual electrical panel boxes for the units, updated windows, and updated gutters. Interior finishes feature fresh flooring selections including hardwood, laminate, tile, and varied finishes, and amenities include ceiling fans. Heating is natural gas steam, and cooling is provided by window unit(s). The property has vinyl siding construction with copper plumbing, a shingle/asphalt roof, a fenced exterior, and public water.
Built in 1920, the property sits on a 0.11-acre lot and totals 2,628 square feet.
Additional improvements include individual electrical panel boxes for the units, updated windows, and updated gutters. Interior finishes feature fresh flooring selections including hardwood, laminate, tile, and varied finishes, and amenities include ceiling fans. Heating is natural gas steam, and cooling is provided by window unit(s). The property has vinyl siding construction with copper plumbing, a shingle/asphalt roof, a fenced exterior, and public water.
Built in 1920, the property sits on a 0.11-acre lot and totals 2,628 square feet.
Key Highlights
- First‑floor unit offers three bedrooms, two full bathrooms, private porch, and in‑unit laundry
- Upstairs layout includes a two‑bedroom, one‑bath apartment plus a separate one‑bedroom, one‑bath unit
- One‑bedroom unit includes complimentary basement laundry access
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
6.05%
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 6.05%
Second Best
Apartment 5plus
$385.1K
$337.0K – $449.3K
NOI $26,959 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$719.9K
$629.9K – $839.9K
NOI $50,395 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex with three bedrooms on the first floor, two full baths, and in-unit laundry, plus additional basement laundry access.
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 $499,900.
What are key features of this property?
This property features: First‑floor unit offers three bedrooms, two full bathrooms, private porch, and in‑unit laundry; Upstairs layout includes a two‑bedroom, one‑bath apartment plus a separate one‑bedroom, one‑bath unit; One‑bedroom unit includes complimentary basement laundry access
