Two-Unit Duplex with Updated
For Sale
$325,000
461 S Goodman Street, Rochester, NY 14607
Well-maintained duplex with separate utilities, off-street parking, and flexible owner-occupant or rental use.
Property Size2,591 SF
Days on Market24
Property Features for 461 S Goodman Street
General Information
Standard status
Active
Size
2,591 SF
Property subtype
Multi Family Home
Units
Unit Mix
1 x 2BR/1BA, 1 x 4BR/2BA
Multifamily Units
2
Additional Details
Gross Income
$44,640
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,170
Amenities
hardwood floors
exposed brick accents
decorative fireplace mantels
updated kitchens
stainless steel appliances
separate utilities
thermal windows
common laundry/storage
off-street parking
front porch
Building Details
Building Size
2,591 SF
Year Built
1900
Buildings
1
Stories
2
Units
2
Listing Agency:
Axion Realty Advisors
(585) 603-2840
Listed By:
Robert Piazza Palotto · License #10491213928
(585) 603-2840
Source:
Northstarwny
Added: Jul 28
Changed: Aug 10
Last Checked: Aug 19 at 2:25PM
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 Axion Realty Advisors
Investment Insights
Based on property information with market context.
Built in 1900, this two-family duplex at 461 S Goodman Street includes a lower residence with 2 bedrooms and 1 bath and an upper residence offering 4 bedrooms and 2 baths. Interior details include hardwood flooring, exposed brick, decorative fireplace mantels, and refreshed kitchens equipped with stainless steel appliances. Thermal windows, separate utilities, shared laundry and storage areas, off-street parking, and a front porch add practical functionality.
The property is located in Rochester’s Pearl-Meigs-Monroe neighborhood, near public transit, shops, and restaurants. Its two-unit layout supports continued rental use or an owner-occupant arrangement with separate living spaces.
The property is located in Rochester’s Pearl-Meigs-Monroe neighborhood, near public transit, shops, and restaurants. Its two-unit layout supports continued rental use or an owner-occupant arrangement with separate living spaces.
Key Highlights
- Two‑unit duplex with a 2‑bedroom, 1‑bath lower unit and 4‑bedroom, 2‑bath upper unit
- Updated kitchens with stainless steel appliances
- Separate utilities for each unit
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
$29,820
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
9.18%
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%
$596,400
$596.4K
Cap Rate 7%
$426,000
$426.0K
Cap Rate 9%
$331,333
$331.3K
Market Conditions
NOI Build-Up for 2,591 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
$45.1K $17.40/SF
− Vacancy
−$2.5K −$0.96/SF
EGI
$42.6K $16.44/SF
− OpEx
−$12.8K −$4.93/SF
NOI
$29.8K $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%
$596,400
Cap Rate 7%
$426,000
Cap Rate 9%
$331,333
Alternative Uses
Best Use
Multifamily LT 5
$426.0K
$372.8K – $497.0K
NOI $29,820 @ 7.0% cap · market cap 9.18%
Second Best
Apartment 5plus
$379.7K
$332.2K – $443.0K
NOI $26,579 @ 7.0% cap · market cap 8.18%
Theoretical Best
Office A
$709.8K
$621.1K – $828.1K
NOI $49,685 @ 7.0% cap · market cap 15.29%
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
1,932
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?
Duplex - Well-maintained duplex with separate utilities, off-street parking, and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 461 S Goodman Street Rochester, NY.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit duplex with a 2‑bedroom, 1‑bath lower unit and 4‑bedroom, 2‑bath upper unit; Updated kitchens with stainless steel appliances; Separate utilities for each unit
