Two-Kitchen
For Sale
$279,900
Pending
189 Ridge Road, Ontario, NY 14519
Residential, Ontario, NY
Property Size2,464 SF
Lot Size0.41 Acres
Days on Market9
Property Features for 189 Ridge Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bathroom 3, Bathroom 1, Bedroom 2, Bedroom 5, Bathroom 2, Basement, Bedroom 1
Parking features
Garage
Patio and Porch features
Deck, Patio
Exterior features
Barbecue, Deck, Patio
Fireplace
1
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Wayne
Middle school district
Wayne
High school district
Wayne
Directions
Starting from Rt 104 to Basket Rd left on Ridge Rd, home on the left past County Line Rd.
Subdivision
Ontario-543400
Standard status
Pending
APN
543400-061-117-0009-066-547-0000
Size
2,464 SF
Lot size
0.41 Acres
Taxes and HOA fees
Tax Annual Amount
5434
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
hardwood floors
fireplace
covered porch
rear deck
tree-lined backyard
small pond
mature landscaping
large storage shed
Building Details
Year built
1964
Floors in Building
1
Number of units
2
Flooring type
Varies, Vinyl, Carpet, Tile, Hardwood, Laminate
Building materials
Brick, VinylSiding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Realty Greater Rochester
(585) 362-8900
Listed By:
Lorraine K. Kane · License #10401341149
(585) 764-9134
Added: Sep 24
Changed: Oct 2
Last Checked: Oct 2 at 10:06AM
MLS# R1717205
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 2,464-square-foot duplex has five bedrooms, three full bathrooms, two kitchens, and connected living areas. The main residence includes three bedrooms and two bathrooms, with hardwood flooring, a fireplace, and a kitchen and dining area with an island. The second living area has two bedrooms, a full bathroom, a kitchen, and a living room. Central air conditioning was replaced in 2026; the furnace and hot water tank are approximately five years old.
The property occupies 0.41 acres and includes a covered porch, rear deck, mature landscaping, a small pond, and a storage shed. Additional features include a garage, natural gas heating, public water, and a septic system.
The property occupies 0.41 acres and includes a covered porch, rear deck, mature landscaping, a small pond, and a storage shed. Additional features include a garage, natural gas heating, public water, and a septic system.
Key Highlights
- Two connected living areas with separate kitchens
- Five bedrooms and three full bathrooms
- 2,464 square feet on a 0.41‑acre lot
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
$21,015
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
7.51%
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%
$420,300
$420.3K
Cap Rate 7%
$300,214
$300.2K
Cap Rate 9%
$233,500
$233.5K
Market Conditions
NOI Build-Up for 2,464 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
$34.0K $13.80/SF
− Vacancy
−$4.0K −$1.62/SF
EGI
$30.0K $12.18/SF
− OpEx
−$9.0K −$3.66/SF
NOI
$21.0K $8.53/SF
Area
Wayne County, NY
Vacancy
11.71%
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%
$420,300
Cap Rate 7%
$300,214
Cap Rate 9%
$233,500
Alternative Uses
Best Use
Multifamily LT 5
$300.2K
$262.7K – $350.3K
NOI $21,015 @ 7.0% cap · market cap 7.51%
Second Best
Apartment 5plus
$264.8K
$231.7K – $308.9K
NOI $18,534 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$663.8K
$580.8K – $774.4K
NOI $46,463 @ 7.0% cap · market cap 16.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
141
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Two connected residential areas provide separate kitchens and living spaces within one property.
Where is this duplex located?
The property is located at 189 Ridge Road Ontario, NY.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Two connected living areas with separate kitchens; Five bedrooms and three full bathrooms; 2,464 square feet on a 0.41‑acre lot
