Updated Two-Unit
For Sale
$329,900
41 Crittenden Boulevard, Rochester, NY 14620
Two-unit residential property with off-street parking, on-premises laundry, and proximity to a major medical center and university.
Property Size1,517 SF
Days on Market13
Property Features for 41 Crittenden Boulevard
General Information
Standard status
Active
Size
1,517 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,600
Amenities
off-street parking
on-premises laundry
Building Details
Building Size
1,517 SF
Year Built
1920
Listing Agency:
Keller Williams Realty Greater Rochester
(585) 750-6024
Listed By:
Lynn Walsh Dates · License #10301222649
(585) 750-6024
Source:
Griffith-realty
Added: Aug 20
Changed: Aug 30
Last Checked: Aug 30 at 3:51PM
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 Keller Williams Realty Greater Rochester
Investment Insights
Based on property information with market context.
Built in 1920, this two-unit duplex has received several major system updates, including a roof replacement in 2020, furnaces installed in 2020 and 2021, and water heaters replaced in 2018 and 2020. The property also provides off-street parking and on-premises laundry for occupant convenience.
The duplex is located directly across from Strong Memorial Hospital and the University of Rochester Medical Center, with nearby access to dining, shopping, amenities, and major routes. Its two-unit configuration supports separate occupancy within a well-maintained residential income property.
The duplex is located directly across from Strong Memorial Hospital and the University of Rochester Medical Center, with nearby access to dining, shopping, amenities, and major routes. Its two-unit configuration supports separate occupancy within a well-maintained residential income property.
Key Highlights
- Two‑unit duplex built in 1920
- Directly across from Strong Memorial Hospital and the University of Rochester Medical Center
- Roof updated in 2020
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
$17,459
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
5.29%
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%
$349,180
$349.2K
Cap Rate 7%
$249,414
$249.4K
Cap Rate 9%
$193,989
$194.0K
Market Conditions
NOI Build-Up for 1,517 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
$26.4K $17.40/SF
− Vacancy
−$1.5K −$0.96/SF
EGI
$24.9K $16.44/SF
− OpEx
−$7.5K −$4.93/SF
NOI
$17.5K $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%
$349,180
Cap Rate 7%
$249,414
Cap Rate 9%
$193,989
Alternative Uses
Best Use
Multifamily LT 5
$249.4K
$218.2K – $291.0K
NOI $17,459 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$222.3K
$194.5K – $259.4K
NOI $15,562 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$415.6K
$363.6K – $484.8K
NOI $29,090 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,557
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with off-street parking, on-premises laundry, and proximity to a major medical center and university.
Where is this duplex located?
The property is located at 41 Crittenden Boulevard Rochester, NY.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Two‑unit duplex built in 1920; Directly across from Strong Memorial Hospital and the University of Rochester Medical Center; Roof updated in 2020
