Updated 4-Unit Multifamily
For Sale
$599,500
1990 Ridge Road, Ontario, NY 14519
Updated four-unit multifamily with rear deck, spacious yard, dedicated storage, coin laundry, and exterior ADT cameras.
Property Size6,260 SF
Days on Market67
Property Features for 1990 Ridge Road
General Information
Standard status
Active
Size
6,260 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,320
Building Details
Building Size
6,260 SF
Year Built
1875
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Coldwell Banker Custom Realty
(585) 500-4500
Listed By:
Michael Liess · License #10491210595
(585) 500-4500
Source:
Wcirealty
Added: Jun 19
Changed: Aug 24
Last Checked: Aug 23 at 6:37AM
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 Coldwell Banker Custom Realty
Investment Insights
Based on property information with market context.
This updated four-unit multifamily property offers four residential units with a functional, established layout. Exterior features include a rear deck and a spacious yard, along with four dedicated tenant storage areas. Additional on-site convenience is provided by a coin-operated washer and dryer, and exterior ADT security cameras are in place.
The property is situated on Ridge Road in the Town of Ontario and is served by the Wayne Central School District. It benefits from exposure along a highly traveled roadway and convenient access to shopping, local amenities, and major commuter routes.
Overall, the building is configured as a four-unit residential income property with on-site laundry and tenant storage, supported by exterior security features.
The property is situated on Ridge Road in the Town of Ontario and is served by the Wayne Central School District. It benefits from exposure along a highly traveled roadway and convenient access to shopping, local amenities, and major commuter routes.
Overall, the building is configured as a four-unit residential income property with on-site laundry and tenant storage, supported by exterior security features.
Key Highlights
- Updated 4‑unit multifamily built in 1875
- Rear deck and spacious yard for tenants
- Four dedicated tenant storage areas
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
$53,390
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
8.91%
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%
$1,067,800
$1.1M
Cap Rate 7%
$762,714
$762.7K
Cap Rate 9%
$593,222
$593.2K
Market Conditions
NOI Build-Up for 6,260 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
$86.4K $13.80/SF
− Vacancy
−$10.1K −$1.62/SF
EGI
$76.3K $12.18/SF
− OpEx
−$22.9K −$3.66/SF
NOI
$53.4K $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%
$1,067,800
Cap Rate 7%
$762,714
Cap Rate 9%
$593,222
Alternative Uses
Best Use
Multifamily LT 5
$762.7K
$667.4K – $889.8K
NOI $53,390 @ 7.0% cap · market cap 8.91%
Second Best
Apartment 5plus
$672.7K
$588.6K – $784.8K
NOI $47,088 @ 7.0% cap · market cap 7.85%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,044 @ 7.0% cap · market cap 19.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
183
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated four-unit multifamily with rear deck, spacious yard, dedicated storage, coin laundry, and exterior ADT cameras.
Where is this quadplex located?
The property is located at 1990 Ridge Road Ontario, NY.
What is the asking price?
The asking price for this property is $599,500.
What are key features of this property?
This property features: Updated 4‑unit multifamily built in 1875; Rear deck and spacious yard for tenants; Four dedicated tenant storage areas
