Rochester Investment

Official-boundary market report

Neighborhood Of The Arts small-multifamily market report, 2021–2025

Neighborhood of the Arts is a small but fully publishable annual series in a comparatively high price tier. This report covers 39 unique closed Rochester two-to-four-unit MLS listings matched to the official City neighborhood polygon.

Updated: Published September 10, 2026

What stands out

All five years clear the minimum with 6 to 12 sales. The five-year median was $345,000, while annual medians ranged from $305,000 to $397,500; those values describe the properties that traded, not every small multifamily inside the boundary.

These 39 records represent 1.4% of the 2,812 citywide closings in the filtered extract. Official neighborhood polygons can overlap, so polygon counts and shares must not be added together.

The annual record

The table uses identical filters and definitions in every year. Price, days-on-market, and sale-to-original-list measures publish only when an annual sample contains at least five sales.

Closed yearUnique salesMedian sale priceMedian DOMMedian sale / original list
20217$305,0006100.3%
20226$397,5004104.8%
20238$345,0007112.3%
20246$337,50020.5100.0%
202512$361,25011108.8%
Licensed MLS extract retrieved September 10, 2026. Source-provided coordinates matched to the official City polygon; Rochester; status S-Closed/Rented; property type Multi-Family Res (2-4) units; closed January 1, 2021–December 31, 2025; one row per unique MLS number. Annual price and pace measures are withheld below five observations.

Five-year aggregate

Across the full period, reported sale-price volume was $14,507,150, median sale price was $345,000, median source-defined days on market was 7, and median sale price was 104.0% of original list price.

The aggregate describes the filtered MLS population inside this polygon. It is not proof of legal unit count, a rent or income measure, a valuation of every property, or a repeat-sales index.

Updegraff Group Realty participation

Updegraff Group Realty participated on either side of 2 of the 39 unique closings. Its five-year observed share was 5.1%. Listing-side plus buyer-side counts are reconciled by subtracting the 1 dual-sided transaction so a property closing is not counted twice.

YearMarket closingsUGR either sideObserved shareList sideBuyer sideBoth sides
2021700.0%000
2022600.0%000
2023800.0%000
2024600.0%000
202512216.7%211
Unique UGR transaction = list side + buyer side − both sides. Annual shares are withheld below five total market closings. Brokerage participation is disclosed separately from market results.

The next useful cut

Examine building size, unit count, mixed-use influence, rehabilitation quality, and micro-location before treating the aggregate as a comparable-sale benchmark.

Raw addresses, agent names, coordinates, and confidential MLS remarks are excluded from this public report. The interactive comparison tool retains every official polygon, including areas that do not meet the 20-sale standalone-report threshold.