Updated Two-Unit
New
For Sale
$449,900
717-719 Turk Hill Road, Fairport, NY 14450
Both residences offer two bedrooms and dedicated in-unit laundry.
Property Size1,697 SF
Days on Market4
Property Features for 717-719 Turk Hill Road
General Information
Standard status
Active
Size
1,697 SF
Property subtype
Duplex
Additional Details
Gross Income
$49,200
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,026
Amenities
in-unit laundry
deck
patio
shed
Building Details
Building Size
1,697 SF
Year Built
1965
Buildings
1
Listing Agency:
Elysian Homes by Mark Siwiec and Associates
(585) 880-8244
Listed By:
Connor Boyd · License #10401382422
(585) 880-8244
Source:
Highfallssir
Added: Aug 27
Changed: Aug 29
Last Checked: Aug 29 at 8:29PM
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 Elysian Homes by Mark Siwiec and Associates
Investment Insights
Based on property information with market context.
Built in 1965, this updated duplex contains two separate residences, each with two bedrooms and its own laundry area. The larger unit includes an eat-in kitchen, living room, three full baths, a finished lower-level family room, walkout access, a deck, patio access, and an attached one-car garage. The second residence has an updated kitchen and living room, an upstairs bedroom layout, a full bath, and laundry in the partially finished basement.
The property is within walking distance of the Village of Fairport, Fellows Road Park, and the Erie Canal. Additional exterior features include a spacious backyard and storage shed. Water, garbage and recycling, snow removal, and lawn maintenance are currently owner-paid, while each tenant maintains separate utilities.
The property is within walking distance of the Village of Fairport, Fellows Road Park, and the Erie Canal. Additional exterior features include a spacious backyard and storage shed. Water, garbage and recycling, snow removal, and lawn maintenance are currently owner-paid, while each tenant maintains separate utilities.
Key Highlights
- Two separate residences, each with 2 bedrooms and in‑unit laundry
- Larger unit includes 3 full baths, a finished lower‑level family room, deck, and walkout access
- Attached 1‑car garage serves the larger residence
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
$15,819
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
3.52%
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%
$316,380
$316.4K
Cap Rate 7%
$225,986
$226.0K
Cap Rate 9%
$175,767
$175.8K
Market Conditions
NOI Build-Up for 1,697 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
$23.4K $13.80/SF
− Vacancy
−$820 −$0.48/SF
EGI
$22.6K $13.32/SF
− OpEx
−$6.8K −$4.00/SF
NOI
$15.8K $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%
$316,380
Cap Rate 7%
$225,986
Cap Rate 9%
$175,767
Alternative Uses
Best Use
Multifamily LT 5
$226.0K
$197.7K – $263.7K
NOI $15,819 @ 7.0% cap · market cap 3.52%
Second Best
Apartment 5plus
$204.1K
$178.6K – $238.2K
NOI $14,289 @ 7.0% cap · market cap 3.18%
Theoretical Best
Specialty Retail
$325.8K
$285.1K – $380.1K
NOI $22,804 @ 7.0% cap · market cap 5.07%
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
674
Businesses Nearby
Explore this area
Business Placement
Demographics for 14450, NY
42,633
Population
19,054
Households
2.2
Avg Household Size
47
Median Age
60%
College-Educated
97%
High-School Grad
32.0 sq mi
ZIP Area
1,332
Density / Sq Mi
$109,543
Median Household Income
$62,613
Median Earnings
$1,258
Median Rent
$281,000
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 - Both residences offer two bedrooms and dedicated in-unit laundry.
Where is this duplex located?
The property is located at 717-719 Turk Hill Road Fairport, NY.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Two separate residences, each with 2 bedrooms and in‑unit laundry; Larger unit includes 3 full baths, a finished lower‑level family room, deck, and walkout access; Attached 1‑car garage serves the larger residence
