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581-587 Jefferson Ave, Rochester, NY 14611

View Smart Contracts: Eth Gnosis

Total Investment: $ 415,000.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

Questions/Need Help? Email Us.

Property update: A Fire incident at 581-587 Jefferson

Unfortunately, we have to inform you that a fire broke out at 581-587 Jefferson during the night of January 16, 2024. No one was injured. However, the damages were extensive.

The Rochester Fire Department responded promptly to the call during the night (EST time) reporting flames on Jefferson Ave. We do not know the cause of the fire at this time. The authorities are currently investigating.

Like all properties managed through RealT, Jefferson is fully insured. Naturally, we are already in contact with the insurance company. The process has just started. The insurance provider just sent their experts to assess the damages.

Until we have more clarity on the situation, especially from the insurance, the Tokens for this property will remain frozen, with no buy-backs or resales through the YAM allowed. We expect this to last a week, perhaps two. By then, the investigations should be completed and the reports available.

Being a landlord certainly comes with its fair share of complexities, and incidents like these, while not frequent, do happen.

Rest assured that as soon as we have further information, we will update you.

 

 

 

Property Highlights

  • Expected Income

    0.00% Not Rented

    Not including capital appreciation

  • Income per Token

    $ 0.00 / year
  • Income Start Date

    November 30, 2020
  • Token Price

    $ 41.50
  • Total Tokens

    10,000

All financial statements of property yield are best estimates based on current conditions, and can change at any time.

We are targeting the above yield for investors; however, no assurance can be given that you will obtain any return on investment, and there is a risk that you can lose your entire investment.

  • Property Type

    Mixed-Use
  • Full Address

    581-587 Jefferson Ave, Rochester, NY 14611
  • Country

    USA
  • Source

    RealT
  • Neighborhood

    Genesee - Jefferson
  • Construction Year

    1900
  • Total Units

    14 Units
  • Rental Type

    Long-term
  • Rented?

    No
  • Rent Subsidy?

    Section 8

Property Financials

  • Gross Rent / year

    $ 0.00
  • Gross Rent / month

    Not Rented $ 0.00
  • Monthly Costs

    - $ 2,223.59
    • Maintenance Expenses
      - $ 416.67
    • Property Taxes
      - $ 990.25
    • Insurance
      - $ 291.67
    • Utilities
      - $ 525.00
  • Net Rent / month

    $ 0.00
  • Net Rent / year

    $ 0.00
  • Total Investment

    $ 415,000.00
    • Underlying Asset Price
      $ 415,000.00
    • Unrounded Listing Price
      $ 415,000.00
  • Expected Income

    Not Rented 0.00%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    6,600
  • Interior Size (sqft)

    9,326

Test Renovation content!

Offering Details

  • Offering Date

    November 12, 2020
  • Issuer

    RealToken LLC - Series #39 - 581-587 Jefferson
  • Min. Investment Amount

    $41.50
  • Max. Investment Amount

    $415,000.00
  • Amount Raised

    $415,000.00
  • Offering Percent (of Total Tokens)

    100.00%

Property Valuation

  • 2024

    Feb 23
    1198 days since prior valuation

    Asset Valuation

    $ 415,000.00

    Annual Change

    +0.00%

    Total Investment

    $ 415,000.00

    Token Price

    $ 41.50

    Capital ROI

    --5.80%

    Reg Distributed

    $ 58,480.00

    New Photos

    No new photos at this time.
  • 2020

    Nov 12
    Initial Valuation

    Asset Valuation

    $ 415,000.00

    Total Investment

    $ 584,800.00

    Token Price

    $ 58.48

    Initial Valuation

    Values derived in: Property Financials Tab

Rent Assistance!

This property's rent is partly or wholly paid by the U.S. Federal Government through HUD Section 8.

The rent of Section 8 properties is usually exceptionally stable.

About the Property

571 – 578 Jefferson is RealT’s first offering in the great state of New York, and what an excellent offering it is! This healthy mixed-use brick building offers landlords a reliable, easy-to-manage property situated in a safe, working-class neighborhood. The expected yield of 10.26% is also exceptionally high for the area—this is not a typical New York yield!

Jefferson hosts one studio, seven one-room, three two-room, and one three-room apartments, along with two retail spaces on the ground floor. All are currently rented, and all will be brought up to Section 8 standards so that they can be rented under that program if and when current tenants leave. We anticipate an increase in yield as units are re-rented under Section 8.

Some of Jefferson’s components are nearing end-of-service, such as the boilers and roof. RealT has allocated a renovation reserve of $95,000 to update and improve the building’s components at the end of their service with the intention of improving the property in the process. This reserve is already included in the Asset Price above. We will be sharing more details about the renovation process as it goes, so stay tuned!

Map

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