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OLD-581-587 Jefferson Ave, Rochester, NY 14611

View Smart Contracts: Eth

NOTE: Tokens for this property have been migrated to a new smart contract. If you held tokens of this property, they will no longer show in your Portfolio as 'OLD'. This change will not impact the value of your tokens or rent.

Total Investment: $ 584,800.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    6.54% Partially Rented

    Not including capital appreciation

  • Income per Token

    $ 3.82 / year
  • Income Start Date

    November 30, 2020
  • Token Price

    $ 58.48
  • 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
  • Country

    USA
  • Source

    RealT
  • Neighborhood

    Genesee - Jefferson
  • Construction Year

    1900
  • Total Units

    14 Units
  • Rental Type

    Long-term
  • Rented?

    11 / 14 Units
  • Rent Subsidy?

    Section 8

Property Financials

  • Gross Rent / year

    $ 73,368.00
  • Gross Rent / month

    Partially Rented $ 6,114.00
  • Monthly Costs

    - $ 2,926.70
    • Property Management (9.50%)
      - $ 580.83
    • RealT Platform (2.00%)
      - $ 122.28
    • Maintenance Expenses
      - $ 416.67
    • Property Taxes
      - $ 990.25
    • Insurance
      - $ 291.67
    • Utilities
      - $ 525.00
  • Net Rent / month

    $ 3,187.30
  • Net Rent / year

    $ 38,247.60
  • Total Investment

    $ 584,800.00
    • Underlying Asset Price
      $ 415,000.00
    • Sourcing Fee (10%)
      $ 58,480.00
    • Initial Maintenance Reserve
      $ 16,330.00
    • Initial Renovation Reserve
      $ 95,000.00
    • Unrounded Listing Price
      $ 584,810.00
    • Rounding Difference
      - $ 10.00
  • Expected Income

    Partially Rented 6.54%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    6,600
  • Interior Size (sqft)

    9,326

Test Renovation content!

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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