Duplex with Separate
For Sale
$149,900
Pending
578 Ridge Road, Ontario, NY 14519
MULTI_FAMILY - Other - Ontario, NY
Property Size1,624 SF
Lot Size0.46 Acres
Days on Market47
Property Features for 578 Ridge Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bedroom 3, Bedroom 1, Bathroom 2
Patio and Porch features
Porch
Interior features
CeilingFans
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Wooded
Elementary school
Ontario Elementary
Middle school
Wayne Central Middle
High school
Wayne Senior High
Elementary school district
Wayne
Middle school district
Wayne
High school district
Wayne
Directions
Lincoln rd to Ridge Rd.
Subdivision
Ontario-543400
Standard status
Pending
APN
543400-061-117-0011-554-563-0000
Size
1,624 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Annual Amount
2946
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1880
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Varies, Tile
Building materials
CompositeSiding, CopperPlumbing
Roof type
Asphalt
Architectural style
Other
Listing Agency:
RE/MAX Plus · RE/MAX International
(585) 279-8200
Listed By:
Seana A. Caine · License #10401279328
(585) 217-6602
Added: Jun 26
Changed: Aug 4
Last Checked: Aug 11 at 8:06AM
MLS# R1693870
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex at 578 Ridge Road features two separate living units with separate utilities. The main floor unit offers two bedrooms, an updated kitchen and updated bath, and LVP flooring throughout. The upstairs unit is a one-bedroom layout with fresh paint and new LVP flooring throughout.
The home includes ceiling fans, a gas water heater, and natural gas forced-air heating. Exterior materials include composite siding with copper plumbing, and the roof is asphalt. Water service is public, with a septic tank for sewer.
Set on a 0.46-acre lot, the property has a large, tree-lined backyard and a porch. Built in 1880, it is described as located within the Wayne Central Schools area, with a convenient Ontario location. An open house is scheduled for Saturday, June 27 from 10am to 12pm, with delayed negotiations on Tuesday, June 30 at 5pm.
The home includes ceiling fans, a gas water heater, and natural gas forced-air heating. Exterior materials include composite siding with copper plumbing, and the roof is asphalt. Water service is public, with a septic tank for sewer.
Set on a 0.46-acre lot, the property has a large, tree-lined backyard and a porch. Built in 1880, it is described as located within the Wayne Central Schools area, with a convenient Ontario location. An open house is scheduled for Saturday, June 27 from 10am to 12pm, with delayed negotiations on Tuesday, June 30 at 5pm.
Key Highlights
- Separate utilities for the main floor and upstairs units
- Main floor: two bedrooms with updated kitchen and updated bath plus LVP flooring
- Upstairs one‑bedroom unit with fresh paint and new LVP flooring
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,216
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$244,320
$244.3K
Cap Rate 7%
$174,514
$174.5K
Cap Rate 9%
$135,733
$135.7K
Market Conditions
NOI Build-Up for 1,624 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$25.3K $15.60/SF
− Vacancy
−$3.1K −$1.92/SF
EGI
$22.2K $13.68/SF
− OpEx
−$10.0K −$6.15/SF
NOI
$12.2K $7.52/SF
Area
Wayne County, NY
Vacancy
12.33%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$244,320
Cap Rate 7%
$174,514
Cap Rate 9%
$135,733
Alternative Uses
Best Use
Multifamily LT 5
$197.9K
$173.1K – $230.9K
NOI $13,851 @ 7.0% cap · market cap 9.24%
Second Best
Apartment 5plus
$174.5K
$152.7K – $203.6K
NOI $12,216 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$437.5K
$382.8K – $510.4K
NOI $30,623 @ 7.0% cap · market cap 20.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
54
Businesses Nearby
Explore this area
Business Placement
Demographics for 14519, NY
12,354
Population
5,281
Households
2.3
Avg Household Size
44
Median Age
34%
College-Educated
95%
High-School Grad
42.0 sq mi
ZIP Area
294
Density / Sq Mi
$91,331
Median Household Income
$46,293
Median Earnings
$927
Median Rent
$222,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex offering two units with separate utilities on a 0.46-acre lot with porch and natural gas forced-air heat.
Where is this duplex located?
The property is located at 578 Ridge Road Ontario, NY.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Separate utilities for the main floor and upstairs units; Main floor: two bedrooms with updated kitchen and updated bath plus LVP flooring; Upstairs one‑bedroom unit with fresh paint and new LVP flooring
