Two-Kitchen
For Sale
$279,900
Pending
189 Ridge Road, Ontario, NY 14519
Connected living spaces create distinct areas for household use within one residence.
Property Size2,464 SF
Days on Market9
Property Features for 189 Ridge Road
General Information
Standard status
Pending
Size
2,464 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,434
Amenities
hardwood floors
fireplace
covered porch
rear deck
tree-lined backyard
small pond
mature landscaping
large storage shed
central air conditioning
Building Details
Building Size
2,464 SF
Year Built
1964
Listing Agency:
Keller Williams Realty Greater Rochester
Listed By:
Lorraine K. Kane · License #10401341149
(585) 764-9134
Source:
Highfallssir
Added: Sep 24
Changed: Oct 2
Last Checked: Oct 1 at 6:41PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Greater Rochester
Investment Insights
Based on property information with market context.
At 189 Ridge Road in Ontario, this 1964 duplex contains 5 bedrooms, 3 full baths, two kitchens and two connected living areas. The primary residence has 3 bedrooms and 2 full baths, hardwood flooring, a living room with fireplace, and a kitchen and dining area with an island and rear-deck access. The lower area has its own kitchen, living room, 2 bedrooms and full bath.
Outdoor features include a covered porch, rear deck, landscaped yard with mature trees, a small pond and a large storage shed. Central air conditioning was replaced in 2026; the furnace and hot water tank are approximately 5 years old. The property is within the Wayne Central School District.
Outdoor features include a covered porch, rear deck, landscaped yard with mature trees, a small pond and a large storage shed. Central air conditioning was replaced in 2026; the furnace and hot water tank are approximately 5 years old. The property is within the Wayne Central School District.
Key Highlights
- Two kitchens and two connected living areas in a duplex configuration
- 5 bedrooms and 3 full baths across the property
- Primary residence has 3 bedrooms, 2 full baths, hardwood floors and a fireplace
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Connected living spaces create distinct areas for household use within one residence.
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 kitchens and two connected living areas in a duplex configuration; 5 bedrooms and 3 full baths across the property; Primary residence has 3 bedrooms, 2 full baths, hardwood floors and a fireplace
