Duplex with Updated Kitchen and
For Sale
$350,000
Pending
96-98 Willowick Drive, Fairport, NY 14450
MULTI_FAMILY - Other - Fairport, NY
Property Size2,560 SF
Lot Size0.20 Acres
Days on Market34
Property Features for 96-98 Willowick Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 4, Basement, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 1
Parking features
Garage
Appliances
GasWaterHeater
Subdivision
Village Wood Manor Sec 11
Lot features
Irregular Lot, Residential Lot
Elementary school district
Fairport
Middle school district
Fairport
High school district
Fairport
Directions
Ayrault to Willowick
Standard status
Pending
APN
264489-166-140-0002-079-000
Size
2,560 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
7317
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1974
Floors in Building
2
Number of units
2
Flooring type
Varies, Carpet, Laminate, Tile
Building materials
WoodSiding, CopperPlumbing
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Realty Greater Rochester
(585) 362-8900
Listed By:
Nicholas J Wenderlich · License #10401252003
(585) 340-4894
Added: Jul 28
Changed: Aug 14
Last Checked: Aug 30 at 7:06AM
MLS# R1702423
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 96-98 Willowick Drive offers an investor-friendly setup with flexibility for an owner-occupant. One unit has been updated with a brand-new kitchen and bathroom. The property also benefits from major mechanical systems that are 10 years old or less across the entire duplex, supporting lower near-term maintenance.
The home was built in 1974 and includes forced-air, natural gas heating. Water service is public, and there is a gas water heater. Construction features wood siding and copper plumbing, with an asphalt shingle roof. Parking is available with a garage. Flooring includes tile, carpet, laminate, and variations.
Delayed showings are scheduled to begin 7/30/26 at 12pm, with showings restricted to Thursday 7/30/26, 12-2pm and Friday 7/30/26, 3:30pm-5:30pm. Delayed negotiations are set for 8/4/26 at 1pm.
The home was built in 1974 and includes forced-air, natural gas heating. Water service is public, and there is a gas water heater. Construction features wood siding and copper plumbing, with an asphalt shingle roof. Parking is available with a garage. Flooring includes tile, carpet, laminate, and variations.
Delayed showings are scheduled to begin 7/30/26 at 12pm, with showings restricted to Thursday 7/30/26, 12-2pm and Friday 7/30/26, 3:30pm-5:30pm. Delayed negotiations are set for 8/4/26 at 1pm.
Key Highlights
- Major mechanical systems across the entire duplex are 10 years old or less
- One unit updated with a brand‑new kitchen and bathroom
- 0.2‑acre lot with 2,560 SF total property size
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
$23,864
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
6.82%
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%
$477,280
$477.3K
Cap Rate 7%
$340,914
$340.9K
Cap Rate 9%
$265,156
$265.2K
Market Conditions
NOI Build-Up for 2,560 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
$35.3K $13.80/SF
− Vacancy
−$1.2K −$0.48/SF
EGI
$34.1K $13.32/SF
− OpEx
−$10.2K −$4.00/SF
NOI
$23.9K $9.32/SF
Area
Monroe County, NY
Vacancy
3.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$477,280
Cap Rate 7%
$340,914
Cap Rate 9%
$265,156
Alternative Uses
Best Use
Multifamily LT 5
$340.9K
$298.3K – $397.7K
NOI $23,864 @ 7.0% cap · market cap 6.82%
Second Best
Apartment 5plus
$307.9K
$269.4K – $359.3K
NOI $21,555 @ 7.0% cap · market cap 6.16%
Theoretical Best
Specialty Retail
$491.4K
$430.0K – $573.4K
NOI $34,401 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
Explore this area
Business Placement
Demographics for 14450, NY
42,633
Population
19,054
Households
2.2
Avg Household Size
47
Median Age
60%
College-Educated
97%
High-School Grad
32.0 sq mi
ZIP Area
1,332
Density / Sq Mi
$109,543
Median Household Income
$62,613
Median Earnings
$1,258
Median Rent
$281,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex on 0.2-acre lot with one updated kitchen/bath and major systems 10 years old or less.
Where is this duplex located?
The property is located at 96-98 Willowick Drive Fairport, NY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Major mechanical systems across the entire duplex are 10 years old or less; One unit updated with a brand‑new kitchen and bathroom; 0.2‑acre lot with 2,560 SF total property size
