Triplex With Three-Car
New
For Sale
$345,000
44 Rowley St, Rochester, NY 14607
Historic residential income property with newer windows and a certificate of occupancy valid through 3/18/2028.
Property Size2,856 SF
Days on Market7
Property Features for 44 Rowley St
General Information
Standard status
Active
Size
2,856 SF
Total Parking Spaces
3
Property subtype
Multi Family
Net Operating Income
$27,820
Additional Details
Gross Income
$47,400
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,903
Building Details
Building Size
2,856 SF
Year Built
1868
Stories
3
Units
3
Listing Agency:
(585) 729-2500
Listed By:
Richard L. Leasure
(585) 729-2500
Source:
Elliman
Added: Aug 5
Changed: Aug 6
Last Checked: Aug 10 at 8:33AM
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 Richard L. Leasure
Investment Insights
Based on property information with market context.
This three-family residential income property was built in 1868 and includes a three-car garage. New windows add a recent improvement to the building, while the certificate of occupancy remains valid through 3/18/2028.
The property is located at 44 Rowley St in Rochester, NY 14607, within walking distance of Park Ave. Walk Score is 93, rated Walker's Paradise; Bike Score is 74, rated Very Bikeable; and Transit Score is 49, rated Some Transit.
The property is located at 44 Rowley St in Rochester, NY 14607, within walking distance of Park Ave. Walk Score is 93, rated Walker's Paradise; Bike Score is 74, rated Very Bikeable; and Transit Score is 49, rated Some Transit.
Key Highlights
- Three‑family property with a three‑car garage
- Built in 1868 with new windows
- Certificate of occupancy valid through 3/18/2028
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
$29,298
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
8.49%
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%
$585,960
$586.0K
Cap Rate 7%
$418,543
$418.5K
Cap Rate 9%
$325,533
$325.5K
Market Conditions
NOI Build-Up for 2,856 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
$56.5K $19.80/SF
− Vacancy
−$3.3K −$1.15/SF
EGI
$53.3K $18.65/SF
− OpEx
−$24.0K −$8.39/SF
NOI
$29.3K $10.26/SF
Area
Rochester, NY
Vacancy
5.80%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$585,960
Cap Rate 7%
$418,543
Cap Rate 9%
$325,533
Alternative Uses
Best Use
Multifamily LT 5
$469.6K
$410.9K – $547.8K
NOI $32,869 @ 7.0% cap · market cap 9.53%
Second Best
Apartment 5plus
$418.5K
$366.2K – $488.3K
NOI $29,298 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$782.4K
$684.6K – $912.8K
NOI $54,767 @ 7.0% cap · market cap 15.87%
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
2,887
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 - Historic residential income property with newer windows and a certificate of occupancy valid through 3/18/2028.
Where is this triplex located?
The property is located at 44 Rowley St Rochester, NY.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Three‑family property with a three‑car garage; Built in 1868 with new windows; Certificate of occupancy valid through 3/18/2028
