Historic District
New
For Sale
$389,900
62 Rowley Street, Rochester, NY 14607
Three apartments feature separate gas and electric meters, shared multi-zone heating, and preserved architectural details.
Property Size3,445 SF
Days on Market4
Property Features for 62 Rowley Street
General Information
Standard status
Active
Size
3,445 SF
Property subtype
Multi Family
Occupancy
100%
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Gross Income
$43,068
Taxes and HOA fees
Annual Taxes
$11,531
Building Details
Building Size
3,445 SF
Year Built
1884
Listing Agency:
Coldwell Banker Custom Realty
(585) 500-4520
Listed By:
David R Shewan · License #10401290413
(585) 500-4520
Source:
Griffith-realty
Added: Aug 8
Changed: Aug 10
Last Checked: Aug 10 at 7:03AM
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 Coldwell Banker Custom Realty
Investment Insights
Based on property information with market context.
Constructed in 1884, this triplex contains three 2-bedroom, 1-bath apartments within the Park Avenue Historic District. Interior character includes natural woodwork, hardwood flooring, stained-glass windows, and high ceilings in the lower-level residence. Separate gas and electric meters serve the units, while a multi-zone boiler provides building-wide heating.
The exterior was recently painted in accordance with historic district requirements. A Certificate of Occupancy is supplied, and the property is fully rented. An owner-occupant option remains available, offering flexibility for a buyer seeking a multifamily property with existing occupancy and historic architectural features.
The exterior was recently painted in accordance with historic district requirements. A Certificate of Occupancy is supplied, and the property is fully rented. An owner-occupant option remains available, offering flexibility for a buyer seeking a multifamily property with existing occupancy and historic architectural features.
Key Highlights
- Three‑unit property with 2 bedrooms and 1 bath in each apartment
- Located in the Park Avenue Historic District at 62 Rowley Street, Rochester, NY 14607
- Separate gas and electric meters for the apartments
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
$35,340
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
9.06%
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%
$706,800
$706.8K
Cap Rate 7%
$504,857
$504.9K
Cap Rate 9%
$392,667
$392.7K
Market Conditions
NOI Build-Up for 3,445 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
$68.2K $19.80/SF
− Vacancy
−$4.0K −$1.15/SF
EGI
$64.3K $18.65/SF
− OpEx
−$28.9K −$8.39/SF
NOI
$35.3K $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%
$706,800
Cap Rate 7%
$504,857
Cap Rate 9%
$392,667
Alternative Uses
Best Use
Multifamily LT 5
$566.4K
$495.6K – $660.8K
NOI $39,648 @ 7.0% cap · market cap 10.17%
Second Best
Apartment 5plus
$504.9K
$441.8K – $589.0K
NOI $35,340 @ 7.0% cap · market cap 9.06%
Theoretical Best
Office A
$943.7K
$825.8K – $1.10M
NOI $66,061 @ 7.0% cap · market cap 16.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,272
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 - Three apartments feature separate gas and electric meters, shared multi-zone heating, and preserved architectural details.
Where is this triplex located?
The property is located at 62 Rowley Street Rochester, NY.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Three‑unit property with 2 bedrooms and 1 bath in each apartment; Located in the Park Avenue Historic District at 62 Rowley Street, Rochester, NY 14607; Separate gas and electric meters for the apartments
