Duplex with Private
For Sale
$199,000
Pending
777 Meigs Street, Rochester, NY 14620
Two apartments provide separate access, off-street parking, full kitchens, and individual washers and dryers.
Property Size1,686 SF
Days on Market55
Property Features for 777 Meigs Street
General Information
Standard status
Pending
Size
1,686 SF
Property subtype
Multi Family
Occupancy
100%
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Cap Rate
8.1%
Taxes and HOA fees
Annual Taxes
$3,950
Amenities
original hardwoods
full kitchens
baths
washers and dryers
basement storage
private entrances
off-street parking
Building Details
Building Size
1,686 SF
Year Built
1900
Tenancy
Multi
Listing Agency:
Howard Hanna
Listed By:
Hollis A. Creek · License #30CR0701689
(585) 400-4000
Source:
Highfallssir
Added: Aug 28
Changed: Oct 8
Last Checked: Oct 21 at 6:02AM
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
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Investment Insights
Based on property information with market context.
Built in 1900, this two-unit residential property includes a two-bedroom, one-bath lower apartment and a one-bedroom, one-bath upper apartment. Each unit has its own entrance, full kitchen, bathroom, washer, and dryer, while basement storage and original hardwood floors add functional and character features. Off-street parking serves the property. Both apartments are occupied, with the lower unit on a month-to-month agreement following a two-year tenancy and the upper unit under a recently renewed lease. Reported operating metrics include an 8.1% cap rate, 10% debt yield based on 80/20 LTV, and 0% vacancy for both units over the last five years. Capital improvements include a 2014 roof, 2012 windows, 2019 air conditioning, and 2019 gutters.
The property is in Rochester’s historic South Wedge area, near artisan food and bake shops, restaurants, cafes, bars, Genesee River Gateway Park, and Highland Park.
The property is in Rochester’s historic South Wedge area, near artisan food and bake shops, restaurants, cafes, bars, Genesee River Gateway Park, and Highland Park.
Key Highlights
- Two apartments: 2 bedrooms/1 bath downstairs and 1 bedroom/1 bath upstairs
- Separate private entrances and off‑street parking for the units
- Full kitchens, bathrooms, washers, and dryers in both apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,296
Cap Rate
8.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$345,920
$345.9K
Cap Rate 7%
$247,086
$247.1K
Cap Rate 9%
$192,178
$192.2K
Market Conditions
NOI Build-Up for 1,686 SF
Gross rent
$33.4K $19.80/SF
− Vacancy
−$1.9K −$1.15/SF
EGI
$31.4K $18.65/SF
− OpEx
−$14.2K −$8.39/SF
NOI
$17.3K $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 Rate 5%
$345,920
Cap Rate 7%
$247,086
Cap Rate 9%
$192,178
Alternative Uses
Best Use
Multifamily LT 5
$277.2K
$242.6K – $323.4K
NOI $19,404 @ 7.0% cap · market cap 9.75%
Second Best
Apartment 5plus
$247.1K
$216.2K – $288.3K
NOI $17,296 @ 7.0% cap · market cap 8.69%
Theoretical Best
Office A
$461.9K
$404.1K – $538.9K
NOI $32,331 @ 7.0% cap · market cap 16.25%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,527
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two apartments provide separate access, off-street parking, full kitchens, and individual washers and dryers.
Where is this duplex located?
The property is located at 777 Meigs Street Rochester, NY.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Two apartments: 2 bedrooms/1 bath downstairs and 1 bedroom/1 bath upstairs; Separate private entrances and off‑street parking for the units; Full kitchens, bathrooms, washers, and dryers in both apartments
