1344 Dewey Ave, Unit 1342
Description
Strong opportunity to acquire a 10-unit multifamily property with most of the heavy lifting already completed. This asset consists of 8 one-bedroom units and 2 basement studio units, offering immediate income potential with additional upside after remaining renovations are completed. C of O transfers to new buyer and expires November 2027. Property Highlights:
• 10 total units: 8 one-bedroom, 2 studio (basement)
• 8 units...10-Unit Value-Add Opportunity – Complete the renovations | 1342–1344 Dewey Ave
Strong opportunity to acquire a 10-unit multifamily property with most of the heavy lifting already completed. This asset consists of 8 one-bedroom units and 2 basement studio units, offering immediate income potential with additional upside after remaining renovations are completed. C of O transfers to new buyer and expires November 2027. Property Highlights:
• 10 total units: 8 one-bedroom, 2 studio (basement)
• 8 units delivered with some renovations still needed to be done (basement units, up to 4 of the one bedrooms and some kitchens need some work)
• Separate electric and cooking gas
• Heat and hot water included
• Updated interiors featuring newer kitchens, hardwood and vinyl plank flooring
• Replacement windows and new exterior doors
• Steam boiler (2020)
• Security camera system included
Value-Add Potential:
The property has already undergone significant improvements, including remediation from minor neighboring fire impact. Finalize remaining updates to unlock additional income and force appreciation. Exterior & Major Systems:
• Flat torch-down roof currently being freshly silver-coated
• Clean mechanicals and solid infrastructure already in place
Additional Parcel:
• 1346 Dewey Ave included (separate parcel) – parking lot with existing garage (must be demolished)
Investment Highlights:
• Immediate cash flow from rent-ready units
• Proven value-add without full renovation scope
• Ability to increase income through unit completion and lease-up
• Efficient path to stabilization and long-term returns
Expenses before the fire next door:
City tax: $5,056; County tax $2,424; Insurance $6,234; House meter utilities $6,000; Refuse $2,000
Cash buyers only or buyers with a bank term sheet from a bank willing to finance a vacant building in need of some renovations. The plan is group showings with the first not yet scheduled.
- Listed by Mark J. Palazzo • Rich RealtyP: (585)-259-4050 C: (585)-259-4050 mark@therichgroup.com
Property Details for 1344 Dewey Avenue, Unit 1342
Open Houses
Property Details for 1344 Dewey Avenue, Unit 1342
| Status | Active |
|---|---|
| MLS # | R1673600 |
| Days on Market | 3 |
| Taxes | $7,481 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Property Type | Multi Family |
| MLS Type | Multi Family / Other |
| Year Built | 1920 |
| Lot Size | 0.14 AC / 5,975 SF |
| County | Monroe County |
Location
Building Information for 1344 Dewey Avenue, Unit 1342
Payment Calculator
$2,637 per month
30 year fixed, 6.46% Interest
$2,014
$623
$0
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1Property Information for 1344 Dewey Avenue, Unit 1342
- Elementary School District: Rochester
- High School District: Rochester
- Middle Or Junior School District: Rochester
- Village: Not Applicable
- Human YN: Yes
- Garage Spaces per Apt: 1.00
- Garage YN: Yes
- Area NYSWIS Code: Rochester City-261400
- Tax Annual Amount: $7,481.00
- Building Area Total: 7260.0
- Land Features: Irregular Lot, Near Public Transit
- Num Of Acres: 0.1372
- Lot Size Area: 0.1372
- Lot Size Square Feet: 5975.0
- Lot Size Units: Acres
- Parcel Number: 261400-090-500-0003-056-000-0000
- Lot Number: 56
- Property Condition: Resale
- Senior Community YN: No
- Assessed Value: $177,500
- Year Built: 1920
- Year Built Description: Existing
- Property Sub Type Additional: Other
- Sewer Description: Connected
- Utilities Available: Sewer Connected, Water Connected
- Water Supply: Connected, Public
- Community Features: Other, See Remarks
- Construction Materials: Other, See Remarks
- Exterior Features: Blacktop Driveway
- Roof Description: Other, See Remarks
- Appliances: Appliances Negotiable, Gas Water Heater
- Basement Description: Partial
- Basement YN: Yes
- Num Of Possible Bedrooms: 8
- Num Fireplaces Total Calculated: 0
- Fireplace YN: No
- Floor Description: Other, See Remarks
- Heating: Gas, Hot Water
- Heating YN: Yes
- Sq Ft Total: 7260.0
- Main Level Bathrooms: 0
- Number Of Units Total: 10
- Operating Expense Includes: Other, See Remarks
- Stories: 3
- Stories Total: 3
- Rent Includes: Other, See Remarks
Property History for 1344 Dewey Avenue, Unit 1342
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| Apr 17, 2026 | Price Change WNYREIS #R1673600 | $399,900 | — |
| Apr 14, 2026 | Listed (Active) WNYREIS #R1673600 | $599,900 | — |
| Date | Event & Source | Price |
|---|---|---|
| 04/17/2026 | Price Change WNYREIS #R1673600 | $399,900 |
| 04/14/2026 | Listed (Active) WNYREIS #R1673600 | $599,900 |
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 1344 Dewey Avenue, Unit 1342
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 6 | |||
| Public - | PK to 6 | |||
| Public - | 9 to 12 | |||
| Public - | PK to 6 |
Rating | School | Distance |
|---|---|---|
School 7 Virgil Grissom PublicPK to 6 | ||
School 5 John Williams PublicPK to 6 | ||
Edison Career and Technology High School Public9 to 12 | ||
School 34 Dr Louis A Cerulli PublicPK to 6 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of Rich Realty
Based on information from one of the following Multiple Listing Services: WNYREIS and Greater Binghamton Association of REALTORS. Information being provided is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by WNYREIS and Greater Binghamton Association of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.
