367 Genesee St
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367 Genesee St
7 Unit Block of Flats £469,470 (£67,067/Unit) 12.83% Net Initial Yield Rochester, NY 14611
Investment Highlights
- Townhome Style Apartments
- Located on a Bus Line
- Tenant Paid Utilities
- Basement Storage
Executive Summary
This 7-unit multifamily property offers a fantastic investment opportunity. Each townhome-style apartment features 1,100 SF of living space, 3 bedrooms, and one bathroom. It also includes a full basement and attic for ample storage. The units come equipped with a refrigerator and stove, making them move-in ready for tenants.
All units have separate utilities paid by tenants, ensuring low operating expenses for the owner. With market rents averaging $1,400/month for similar 3-bedroom homes, the fully leased potential gross income (PGI) is $9,800/month. One unit is currently occupied, leaving six available to lease and capitalize on the income potential.
All units have separate utilities paid by tenants, ensuring low operating expenses for the owner. With market rents averaging $1,400/month for similar 3-bedroom homes, the fully leased potential gross income (PGI) is $9,800/month. One unit is currently occupied, leaving six available to lease and capitalize on the income potential.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£92,016
|
£11.90
|
| Other Income |
-
|
-
|
| Vacancy Loss |
£4,601
|
£0.60
|
| Effective Gross Income |
£87,415
|
£11.31
|
| Taxes |
£9,269
|
£1.20
|
| Operating Expenses |
£17,899
|
£2.31
|
| Total Expenses |
£27,168
|
£3.51
|
| Net Operating Income |
£60,247
|
£7.79
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £92,016 |
| Annual Per SF | £11.90 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | £4,601 |
| Annual Per SF | £0.60 |
| Effective Gross Income | |
|---|---|
| Annual | £87,415 |
| Annual Per SF | £11.31 |
| Taxes | |
|---|---|
| Annual | £9,269 |
| Annual Per SF | £1.20 |
| Operating Expenses | |
|---|---|
| Annual | £17,899 |
| Annual Per SF | £2.31 |
| Total Expenses | |
|---|---|
| Annual | £27,168 |
| Annual Per SF | £3.51 |
| Net Operating Income | |
|---|---|
| Annual | £60,247 |
| Annual Per SF | £7.79 |
Property Facts
| Price | £469,470 | Apartment Style | Low Rise |
| Price Per Unit | £67,067 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Net Initial Yield | 12.83% | Building Size | 7,732 SF |
| Gross Rent Multiplier | 5.1 | Average Occupancy | 100% |
| No. Units | 7 | Number of Floors | 2 |
| Property Type | Residential | Year Built/Renovated | 1910/2022 |
| Property Subtype | Apartment |
| Price | £469,470 |
| Price Per Unit | £67,067 |
| Sale Type | Investment |
| Net Initial Yield | 12.83% |
| Gross Rent Multiplier | 5.1 |
| No. Units | 7 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.30 AC |
| Building Size | 7,732 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built/Renovated | 1910/2022 |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 3+1 | 7 | £1,095 | 1,100 |
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Walk Score ®
Very Walkable (70)
PROPERTY TAXES
| Parcel Number | 261400-120-660-0001-044-000-0000 | Total Assessment | £142,406 (2023) |
| Land Assessment | £10,563 (2023) | Annual Taxes | £9,269 (£1.20/sf) |
| Improvements Assessment | £131,843 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
261400-120-660-0001-044-000-0000
Land Assessment
£10,563 (2023)
Improvements Assessment
£131,843 (2023)
Total Assessment
£142,406 (2023)
Annual Taxes
£9,269 (£1.20/sf)
Tax Year
2024
zoning
| Zoning Code | R-2 (Medium Density) |
| R-2 (Medium Density) |
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367 Genesee St
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