Historic Duplex with Studio
For Sale
$399,000
809 South Avenue, Rochester, NY 14620
Classic historic character pairs with a separate studio and private entrance.
Property Size2,677 SF
Days on Market42
Property Features for 809 South Avenue
General Information
Standard status
Active
Size
2,677 SF
Property subtype
Multi Family Home
Units
Unit Mix
1 x 4BR/1.5BA, 1 x studio
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,178
Amenities
enclosed front porch
fully fenced backyard
brick fireplace
Building Details
Building Size
2,677 SF
Year Built
1893
Stories
2
Units
2
Listing Agency:
Ivy House Realty LLC
(585) 414-2080
Listed By:
Sara Puccia
(585) 414-2080
Source:
Wcirealty
Added: Jul 22
Changed: Aug 31
Last Checked: Sep 1 at 7:32PM
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 Ivy House Realty LLC
Investment Insights
Based on property information with market context.
This 1893 duplex combines a substantial main residence with a separately accessed studio apartment. The primary unit offers more than 2,000 square feet, four bedrooms, one full bath, and one half bath, along with hardwood floors, original woodwork, built-ins, tall ceilings, large windows, multiple staircases, and a brick-fireplace living room. An enclosed front porch and fully fenced backyard add usable private space. The studio has its own entrance and can support flexible household arrangements or rental use.
Recent improvements include a roof, gutters, and boiler completed in 2022, along with new plumbing and cosmetic updates. The property is located at 809 South Avenue in Rochester’s Historic South Wedge neighborhood, within walking distance of Highland Hospital, Highland Park, restaurants, coffee shops, and local boutiques.
Recent improvements include a roof, gutters, and boiler completed in 2022, along with new plumbing and cosmetic updates. The property is located at 809 South Avenue in Rochester’s Historic South Wedge neighborhood, within walking distance of Highland Hospital, Highland Park, restaurants, coffee shops, and local boutiques.
Key Highlights
- Duplex with a separate studio apartment and private entrance
- Main residence offers more than 2,000 square feet with 4 bedrooms, 1 full bath, and 1 half bath
- 1893 construction with original woodwork, hardwood floors, built‑ins, tall ceilings, and large windows
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
$30,809
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
7.72%
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%
$616,180
$616.2K
Cap Rate 7%
$440,129
$440.1K
Cap Rate 9%
$342,322
$342.3K
Market Conditions
NOI Build-Up for 2,677 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
$46.6K $17.40/SF
− Vacancy
−$2.6K −$0.96/SF
EGI
$44.0K $16.44/SF
− OpEx
−$13.2K −$4.93/SF
NOI
$30.8K $11.51/SF
Area
Rochester, NY
Vacancy
5.51%
Lease Rate
$17.40 /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%
$616,180
Cap Rate 7%
$440,129
Cap Rate 9%
$342,322
Alternative Uses
Best Use
Multifamily LT 5
$440.1K
$385.1K – $513.5K
NOI $30,809 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$392.3K
$343.3K – $457.7K
NOI $27,462 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$733.3K
$641.7K – $855.6K
NOI $51,334 @ 7.0% cap · market cap 12.87%
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
1,331
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 - Classic historic character pairs with a separate studio and private entrance.
Where is this duplex located?
The property is located at 809 South Avenue Rochester, NY.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Duplex with a separate studio apartment and private entrance; Main residence offers more than 2,000 square feet with 4 bedrooms, 1 full bath, and 1 half bath; 1893 construction with original woodwork, hardwood floors, built‑ins, tall ceilings, and large windows
