Three-Unit Residential Income
For Sale
$299,900
Pending
9 Sumner Park, Rochester, NY 14607
Well-maintained three-unit building with updated interiors, dedicated off-street parking, and shared on-site laundry.
Property Size2,192 SF
Days on Market60
Property Features for 9 Sumner Park
General Information
Standard status
Pending
Size
2,192 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$7,154
Building Details
Building Size
2,192 SF
Year Built
1910
Units
3
Listing Agency:
Coldwell Banker Custom Realty
(607) 725-7633
Listed By:
Joseph Skelly · License #10401360863
(607) 725-7633
Source:
Elliman
Added: Jun 22
Changed: Aug 8
Last Checked: Aug 19 at 8:00AM
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 Coldwell Banker Custom Realty
Investment Insights
Based on property information with market context.
9 Sumner Park is a well-maintained three-unit property with a total of one two-bedroom unit and two one-bedroom apartments. Updates include renovated kitchens with new cabinetry and countertops, along with new vinyl plank flooring in each unit. Exterior improvements feature vinyl siding and updated vinyl windows, supporting low-maintenance ownership. The property also includes shared on-site laundry and a three-car carport providing dedicated off-street parking with one assigned space per unit.
The building is served by four separate electric meters, with one meter for each unit plus a house meter for basement and exterior/public areas. Major capital items include a new roof installed in 2020 and three new hot water tanks, one for each unit. A certificate of occupancy will be supplied with a current expiration of 6/11/2032.
This configuration offers a practical fit for owner-occupants seeking an income-producing home or investors looking for a three-unit setup with in-unit kitchen updates and ongoing utility separation. With on-site laundry and assigned parking for every unit, day-to-day resident convenience is built into the property.
The building is served by four separate electric meters, with one meter for each unit plus a house meter for basement and exterior/public areas. Major capital items include a new roof installed in 2020 and three new hot water tanks, one for each unit. A certificate of occupancy will be supplied with a current expiration of 6/11/2032.
This configuration offers a practical fit for owner-occupants seeking an income-producing home or investors looking for a three-unit setup with in-unit kitchen updates and ongoing utility separation. With on-site laundry and assigned parking for every unit, day-to-day resident convenience is built into the property.
Key Highlights
- Three‑unit building built in 1910: one 2‑bedroom unit and two 1‑bedroom apartments
- Updated kitchens in each unit with new cabinetry and countertops, plus new vinyl plank flooring
- Dedicated off‑street parking with 1 assigned space per unit in a 3‑car carport
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
$25,227
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
8.41%
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%
$504,540
$504.5K
Cap Rate 7%
$360,386
$360.4K
Cap Rate 9%
$280,300
$280.3K
Market Conditions
NOI Build-Up for 2,192 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
$38.1K $17.40/SF
− Vacancy
−$2.1K −$0.96/SF
EGI
$36.0K $16.44/SF
− OpEx
−$10.8K −$4.93/SF
NOI
$25.2K $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%
$504,540
Cap Rate 7%
$360,386
Cap Rate 9%
$280,300
Alternative Uses
Best Use
Multifamily LT 5
$360.4K
$315.3K – $420.5K
NOI $25,227 @ 7.0% cap · market cap 8.41%
Second Best
Apartment 5plus
$321.2K
$281.1K – $374.8K
NOI $22,486 @ 7.0% cap · market cap 7.50%
Theoretical Best
Office A
$600.5K
$525.4K – $700.6K
NOI $42,034 @ 7.0% cap · market cap 14.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,828
Businesses Nearby
Explore this area
Business Placement
Demographics for 14607, NY
16,298
Population
11,971
Households
1.4
Avg Household Size
32
Median Age
60%
College-Educated
95%
High-School Grad
1.7 sq mi
ZIP Area
9,587
Density / Sq Mi
$56,270
Median Household Income
$44,018
Median Earnings
$1,129
Median Rent
$304,100
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 - Well-maintained three-unit building with updated interiors, dedicated off-street parking, and shared on-site laundry.
Where is this triplex located?
The property is located at 9 Sumner Park Rochester, NY.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Three‑unit building built in 1910: one 2‑bedroom unit and two 1‑bedroom apartments; Updated kitchens in each unit with new cabinetry and countertops, plus new vinyl plank flooring; Dedicated off‑street parking with 1 assigned space per unit in a 3‑car carport
