Tenant-Occupied
New
For Sale
$359,900
709 Garfield St, East Rochester, NY 14445
Three occupied residences offer an existing multifamily configuration in East Rochester.
Property Size2,915 SF
Days on Market4
Property Features for 709 Garfield St
General Information
Standard status
Active
Size
2,915 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,568
Building Details
Building Size
2,915 SF
Year Built
1922
Units
3
Listing Agency:
(585) 474-1939
Listed By:
Jonny Jovcevski
(585) 474-1939
Source:
Elliman
Added: Aug 19
Changed: Aug 22
Last Checked: Aug 22 at 8:32AM
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 Jonny Jovcevski
Investment Insights
Based on property information with market context.
This triplex contains three tenant-occupied units and was built in 1922. The property is located at 709 Garfield St in East Rochester, NY 14445. Its existing occupancy provides a current residential income setup, while the three-unit layout gives the property a defined small-scale multifamily profile.
Neighborhood mobility scores include a Walk Score of 73, classified as Very Walkable, and a Bike Score of 67, classified as Bikeable.
Neighborhood mobility scores include a Walk Score of 73, classified as Very Walkable, and a Bike Score of 67, classified as Bikeable.
Key Highlights
- Three‑unit multifamily property with all units currently tenant‑occupied
- Built in 1922
- Located at 709 Garfield St, East Rochester, NY 14445
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
$27,173
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
7.55%
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%
$543,460
$543.5K
Cap Rate 7%
$388,186
$388.2K
Cap Rate 9%
$301,922
$301.9K
Market Conditions
NOI Build-Up for 2,915 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
$40.2K $13.80/SF
− Vacancy
−$1.4K −$0.48/SF
EGI
$38.8K $13.32/SF
− OpEx
−$11.6K −$4.00/SF
NOI
$27.2K $9.32/SF
Area
Monroe County, NY
Vacancy
3.50%
Lease Rate
$13.80 /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%
$543,460
Cap Rate 7%
$388,186
Cap Rate 9%
$301,922
Alternative Uses
Best Use
Multifamily LT 5
$388.2K
$339.7K – $452.9K
NOI $27,173 @ 7.0% cap · market cap 7.55%
Second Best
Apartment 5plus
$350.6K
$306.8K – $409.1K
NOI $24,544 @ 7.0% cap · market cap 6.82%
Theoretical Best
Specialty Retail
$559.6K
$489.6K – $652.9K
NOI $39,171 @ 7.0% cap · market cap 10.88%
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
911
Businesses Nearby
Explore this area
Business Placement
Demographics for 14445, NY
7,781
Population
3,661
Households
2.1
Avg Household Size
39
Median Age
36%
College-Educated
93%
High-School Grad
2.0 sq mi
ZIP Area
3,891
Density / Sq Mi
$72,250
Median Household Income
$41,887
Median Earnings
$1,130
Median Rent
$151,200
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 occupied residences offer an existing multifamily configuration in East Rochester.
Where is this triplex located?
The property is located at 709 Garfield St East Rochester, NY.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Three‑unit multifamily property with all units currently tenant‑occupied; Built in 1922; Located at 709 Garfield St, East Rochester, NY 14445
