Rochester Investment

Original neighborhood research

The Upper Monroe small-multifamily market, 2021–2025

An official-boundary study of 67 Rochester two-to-four-unit sales: a sharp transaction-volume reset after 2022, five publishable annual price samples, and a UGR participation record concentrated entirely in the latest two years.

Updated: September 10, 2026

Upper Monroe contained 67 qualifying sales across five years

Source-provided MLS coordinates place 67 unique Rochester two-to-four-unit closings inside the official Upper Monroe polygon from 2021 through 2025. That population represented 2.4% of Rochester’s 2,812 qualifying sales during the same period.

Upper Monroe produced 12 of the city’s 549 qualifying sales in 2025, or 2.2%. The neighborhood and citywide populations use the same property type, status, dates, and unique-MLS-number rule.

PeriodUpper Monroe salesCity salesUpper Monroe share
2021–2025672,8122.4%
2025125492.2%
Official City polygons can overlap and are calculated independently; polygon results cannot be added to recreate the citywide total.

Annual transaction volume reset after 2022

The official-boundary population recorded 22 sales in 2021 and 18 in 2022, then only five in 2023. Activity recovered to 10 sales in 2024 and 12 in 2025 but remained below the first two years.

The dataset does not contain the complete population of expired, withdrawn, unsold, or privately transferred properties. Lower closing count therefore does not, by itself, identify whether supply, demand, seller expectations, financing, or property mix changed.

Closed yearUnique salesMedian sale priceMedian DOMMedian sale / original list
202122$260,0006100.0%
202218$310,0006106.5%
20235$370,0007107.0%
202410$331,0009.5103.7%
202512$322,7508101.1%
Official Upper Monroe polygon; MLS status S-Closed/Rented; property type Multi-Family Res (2-4) units; one record per unique MLS number. The five-sale 2023 sample meets the minimum but warrants extra caution.

The annual price series reflects changing transaction populations

The median reported sale price was $260,000 across 22 sales in 2021 and $322,750 across 12 sales in 2025, a 24.1% difference between those annual transaction populations. The 2025 median was 2.5% below the 2024 median of $331,000.

The five-sale 2023 population produced a $370,000 median, but that result does not establish a neighborhood peak or price trend. The dataset does not control for exact unit count, legal use, building size, condition, rehabilitation, occupancy, commercial components, parking, financing, or concessions.

Measure2021202320242025
Unique sales2251012
Median sale price$260,000$370,000$331,000$322,750
Median DOM679.58
Median sale / original list100.0%107.0%103.7%101.1%
Annual medians compare different groups of sold properties. They are not repeat-sales appreciation or a forecast.

The five-year aggregate provides context—not a property valuation

Across all 67 transactions, the median reported sale price was $290,000, median source-defined days on market was six, and median sale price equaled 102.4% of original list price. Reported sale prices totaled $20,300,925.

Gross sale-price volume is not market value, investor equity, brokerage production, rental revenue, or economic output. Upper Monroe’s aggregate figures cannot substitute for matched property sales, verified rents, complete expenses, or a capital plan.

Five-year measureResult
Unique sales67
Median sale price$290,000
Reported sale-price volume$20,300,925
Median DOM6
Median sale / original list102.4%
January 1, 2021 through December 31, 2025. Results use the official City polygon and source-provided MLS coordinates.

UGR’s four transactions were concentrated in 2024 and 2025

Updegraff Group LLC appeared on 4 of the 67 official-boundary transactions, or 6.0%. UGR recorded no qualifying Upper Monroe transactions in 2021, 2022, or 2023; it appeared on three in 2024 and one in 2025.

That recent pattern is more informative than implying a uniform five-year presence. UGR’s measured share was 30.0% of the 10-sale 2024 population and 8.3% of the 12-sale 2025 population. Both figures clear the annual five-sale threshold, but their modest denominators remain visible.

YearUpper Monroe salesUGR transactionsUGR shareList sideBuyer sideBoth sides
20212200.0%000
20221800.0%000
2023500.0%000
202410330.0%221
20251218.3%100
Participation is not commission income, individual-agent production credit, proof of transaction origination, or evidence of off-market activity.

Represented sides reconcile to four unique transactions

UGR appeared in a listing-side office field on three transactions and a buyer-side office field on two. One 2024 transaction included the company on both sides, so the correct unique count is three plus two minus one, or four.

Both-side representation does not create a second sale. The five-year 6.0% share uses the deduplicated transaction total, not the sum of represented sides.

Residential side streets and Monroe Avenue assets require separate evidence

A useful next layer would classify every sale by verified legal unit count, house or purpose-built multifamily form, residential versus commercial or mixed use, Monroe Avenue frontage, parking and access, condition, preservation status, occupancy, tenancy, and current zoning.

The current dataset does not establish achieved rents, collections, vacancy, operating expenses, commercial lease terms, rehabilitation scope, financing, cash flow, capitalization rates, or returns. Raw MLS addresses, coordinates, remarks, agent details, and restricted listing fields remain unpublished.