Park Avenue Two-Family
517 Park Avenue, Rochester, NY 14607
MULTI_FAMILY - Other - Rochester, NY
Property size:
3,723 SFLot size:
0.30 Acres- Added:
- Apr 29, 2026
- Days on Market:
- 17
- Last Refresh:
- May 15 at 6:06 pm
Property Features for 517 Park Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 5
- Rooms
- Basement, Bathroom 3, Bedroom 5, Bathroom 5, Bedroom 1, Bathroom 1, Bedroom 2, Bathroom 4, Bedroom 4, Bedroom 3, Bathroom 2
- Patio and Porch features
- Porch
- Interior features
- CeilingFans, ProgrammableThermostat
- Fireplace
- 1
- Appliances
- GasWaterHeater
- Standard status
- Pending
- APN
- 261400-121-520-0001-017-000-0000
- Size
- 3,723 SF
- Lot size
- 0.30 Acres
Taxes and HOA fees
- Tax Annual Amount
- 15138
Utilities
- Heating system
- Natural Gas, Hot Water(Heating)
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Carpet, Hardwood, Tile, Varies
- Building materials
- WoodSiding
- Roof type
- Asphalt, Shingle
- Architectural style
- Other
Listing agent Amy L. Petrone License #30PE1131149 (585) 218-6850
Listing office RE/MAX Realty Group 10 Grove Street, Pittsford, NY (585) 248-0250
Listing date Apr 29, 2026
MLS# R1677290
Listing URL
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.
HighLights
- Rare double lot offering ample parking, gardens, outdoor living space, and an irrigation system.
- Two‑family home with tenant‑occupied one‑bedroom apartment providing immediate rental income ($1,250/month).
- Front owner's unit features original woodwork, hardwood floors, and an updated eat‑in kitchen with granite countertops and high‑end appliances.
- Three bedrooms in the owner's unit, including two with ensuite baths (one fully remodeled) and an additional updated full bath.
- Flexible third‑floor space suitable for a fourth bedroom, home office, or studio, with generous storage.
- Ideally located across from a park and within walking distance to shops, cafes, and restaurants.
Overview
This two-family home, situated on a double lot, features a front porch, gardens, and outdoor living space. An irrigation system supports the front lawn, while the rear turf lawn is designed for low maintenance. The front owner's unit includes original woodwork, hardwood floors, and new carpet. The living room offers views of Park Avenue. The dining room is suited for entertaining, and the updated eat-in kitchen features granite countertops, high-end appliances, abundant storage, and natural stone flooring. A renovated half bath is located on the main level. The second floor houses three bedrooms, including two with ensuite baths, one of which has been remodeled. An additional full bath serves the primary bedroom and has been updated. The third floor provides flexible space for a fourth bedroom, home office, or studio, along with storage. The rear unit is a one-bedroom, one-bath apartment, currently tenant-occupied at $1,250 per month, offering income potential. Additional features include a detached two-car garage and landscaped grounds with perennial gardens, a patio, and a gazebo. The property is located across from a park and within walking distance of shops, cafes, and restaurants. The property is also listed as a single family.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$476.1K
NOI $42,848 @ 9.00% cap · cautious / downside scenario
Moderate
$612.1K
NOI $42,848 @ 7.00% cap · market / base-case scenario
Aggressive
$857.0K
NOI $42,848 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.8k | $17.40 |
| − Vacancy | −$3.6k | −$0.96 |
| EGI | $61.2k | $16.44 |
| − OpEx | −$18.4k | −$4.93 |
| NOI | $42.8k | $11.51 |
3,723 SF · lease $17.40/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$612.1K
$535.6K – $714.1K
NOI $42,848 @ 7.0% cap · market cap 6.12%
Second Best
Apartment 5plus
$545.6K
$477.4K – $636.5K
NOI $38,192 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$1.02M
$892.4K – $1.19M
NOI $71,392 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Rochester
- County
- Monroe
- State
- New York
- Longitude
- -77.581912
- Latitude
- 43.148841
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Meticulously maintained two-family home on a double lot.
Where is this duplex located?
The property is located at 517 Park Avenue Rochester, NY.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Rare double lot offering ample parking, gardens, outdoor living space, and an irrigation system.; Two‑family home with tenant‑occupied one‑bedroom apartment providing immediate rental income ($1,250/month).; Front owner's unit features original woodwork, hardwood floors, and an updated eat‑in kitchen with granite countertops and high‑end appliances.
