Duplexes with Private Entrances and Off-Street
New
For Sale
$649,000
773 & 777 Meigs Street, Rochester, NY 14620
Two neighboring duplex properties with separate private entrances, off-street parking, and current short-term rental operation.
Days on Market6
Property Features for 773 & 777 Meigs Street
General Information
Standard status
Active
Property subtype
Multi Family
Building Details
Building Size
3,338 SF
Year Built
1900
Listing Agency:
Howard Hanna
(585) 400-4000
Listed By:
Hollis A. Creek · License #30CR0701689
(585) 400-4000
Source:
Griffith-realty
Added: Jul 27
Changed: Jul 30
Last Checked: Jul 31 at 11:19AM
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 Howard Hanna
Investment Insights
Based on property information with market context.
Two neighboring duplex properties at 773 and 777 Meigs Street offer four total units, each with private entrances and off-street parking. 773 features an upper 2 bed/1 bath with a private 2nd story deck and a lower 1 bed/1 bath with a private porch. 777 operates as a 12-month rental “work horse” with 0% vacancy over the last five years, with both upper and lower units rented; the lower unit is month-to-month with a 2-year tenancy, and the upper unit’s 12-month lease ends in August (with a May renewal noted).
Both properties have undergone full interior renovations including restored hardwoods and eat-in kitchens, along with family rooms and updated baths and bedrooms. Updates listed include new A/C (2019), new windows (2012), a tear-off roof (2014), gutters (2019), hot water tanks, and full exterior siding. Furnishings and decor are included, and an existing management company can remain in service to a new owner.
The remarks also cite a 7.1% cap rate and a 9.6% debt yield (assumed 80/20).
Both properties have undergone full interior renovations including restored hardwoods and eat-in kitchens, along with family rooms and updated baths and bedrooms. Updates listed include new A/C (2019), new windows (2012), a tear-off roof (2014), gutters (2019), hot water tanks, and full exterior siding. Furnishings and decor are included, and an existing management company can remain in service to a new owner.
The remarks also cite a 7.1% cap rate and a 9.6% debt yield (assumed 80/20).
Key Highlights
- Sister duplexes at 773 and 777 Meigs St, each with private entrances and off‑street parking
- Upper at 773 is 2 bed/1 bath with a private 2nd‑story deck; lower is 1 bed/1 bath with a private porch
- Cited 7.1% cap rate and 9.6% debt yield (assumed 80/20)
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.1k | $17.40 |
| − Vacancy | −$3.2k | −$0.96 |
| EGI | $54.9k | $16.44 |
| − OpEx | −$16.5k | −$4.93 |
| NOI | $38.4k | $11.51 |
3,338 SF · lease $17.40/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$548.8K
$480.2K – $640.3K
NOI $38,417 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$489.2K
$428.0K – $570.7K
NOI $34,242 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$914.4K
$800.1K – $1.07M
NOI $64,009 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,527
Businesses Nearby
Explore this area
Business Placement
Demographics for 14620, NY
24,185
Population
13,060
Households
1.9
Avg Household Size
35
Median Age
56%
College-Educated
92%
High-School Grad
4.4 sq mi
ZIP Area
5,497
Density / Sq Mi
$59,525
Median Household Income
$40,467
Median Earnings
$1,193
Median Rent
$197,700
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 - Two neighboring duplex properties with separate private entrances, off-street parking, and current short-term rental operation.
Where is this duplex located?
The property is located at 773 & 777 Meigs Street Rochester, NY.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Sister duplexes at 773 and 777 Meigs St, each with private entrances and off‑street parking; Upper at 773 is 2 bed/1 bath with a private 2nd‑story deck; lower is 1 bed/1 bath with a private porch; Cited 7.1% cap rate and 9.6% debt yield (assumed 80/20)
