Townhouse-Style Duplex with
For Sale
$369,900
Pending
48903-48905 N Ridge Road, Amherst, OH 44001
ResidentialIncome, Amherst, OH
Property Size3,384 SF
Lot Size2.03 Acres
Days on Market76
Property Features for 48903-48905 N Ridge Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bathroom 4, Bedroom 5, Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 6, Bathroom 3, Laundry Room, Bathroom 1, Bedroom 4
Parking features
Driveway
Interior features
WalkInClosets
Exterior features
PrivateEntrance, PrivateYard
Appliances
Dishwasher, Range, Refrigerator
Subdivision
Brownhelm
Lot features
Sloped, Wooded
Elementary school district
Firelands LSD - 4707
Middle school district
Firelands LSD - 4707
High school district
Firelands LSD - 4707
Directions
N. Ridge Rd. East of Rice Rd.
Standard status
Pending
APN
01-00-040-000-021
Size
3,384 SF
Lot size
2.03 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FROM -020
Tax Annual Amount
5572
Legal Description
FROM -020
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
laundry room
sunroom
covered porch
Building Details
Year built
2000
Floors in Building
2
Building materials
Cedar
Roof type
Fiberglass, Asphalt
Listing Agency:
Russell Real Estate Services
(440) 327-6511
Listed By:
Dawn M Balog · License #2006002411
(440) 225-3265
Added: Jun 18
Changed: Aug 20
Last Checked: Sep 1 at 10:06AM
MLS# 5219913
Copyright © 2026 MLS Now. 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 townhouse-style duplex contains two remodeled residences within a cedar structure. Each unit includes 1.5 bathrooms, a one-car garage, a laundry room, separate entry, and independent utility metering. Interior features include full kitchens, living areas, walk-in closets, and access to private outdoor space. One residence adds a rear sunroom, while the other includes a breakfast bar and covered rear porch. The building measures 3,384 square feet and was constructed in 2000. Both units received remodeling work in 2026, and the roof was replaced in 2012.
The property occupies 2.03 acres in Brownhelm Township and carries an Amherst address. Public water serves the property, with two separate 1,000-gallon septic systems. Natural-gas forced-air heating, central air, double-pane windows, cedar construction, and fiberglass/asphalt roofing are documented. The property is associated with Firelands Schools and has a wooded lot behind the residences.
The property occupies 2.03 acres in Brownhelm Township and carries an Amherst address. Public water serves the property, with two separate 1,000-gallon septic systems. Natural-gas forced-air heating, central air, double-pane windows, cedar construction, and fiberglass/asphalt roofing are documented. The property is associated with Firelands Schools and has a wooded lot behind the residences.
Key Highlights
- Two‑unit townhouse‑style duplex with 3,384 square feet
- Each unit includes 1.5 bathrooms, a one‑car garage, laundry room, and separate entrance
- Situated on 2.03 acres with a wooded lot and private outdoor 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
$30,990
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
8.38%
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%
$619,800
$619.8K
Cap Rate 7%
$442,714
$442.7K
Cap Rate 9%
$344,333
$344.3K
Market Conditions
NOI Build-Up for 3,384 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
$46.7K $13.80/SF
− Vacancy
−$2.4K −$0.72/SF
EGI
$44.3K $13.08/SF
− OpEx
−$13.3K −$3.92/SF
NOI
$31.0K $9.16/SF
Area
Lorain County, OH
Vacancy
5.20%
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%
$619,800
Cap Rate 7%
$442,714
Cap Rate 9%
$344,333
Alternative Uses
Best Use
Multifamily LT 5
$442.7K
$387.4K – $516.5K
NOI $30,990 @ 7.0% cap · market cap 8.38%
Second Best
Apartment 5plus
$413.5K
$361.8K – $482.4K
NOI $28,945 @ 7.0% cap · market cap 7.83%
Theoretical Best
Office A
$852.8K
$746.2K – $994.9K
NOI $59,694 @ 7.0% cap · market cap 16.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 44001, OH
20,837
Population
8,547
Households
2.4
Avg Household Size
47
Median Age
30%
College-Educated
95%
High-School Grad
33.2 sq mi
ZIP Area
628
Density / Sq Mi
$91,050
Median Household Income
$47,042
Median Earnings
$947
Median Rent
$221,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer private entrances, individual utilities, garages, laundry rooms, and wooded outdoor surroundings.
Where is this duplex located?
The property is located at 48903-48905 N Ridge Road Amherst, OH.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Two‑unit townhouse‑style duplex with 3,384 square feet; Each unit includes 1.5 bathrooms, a one‑car garage, laundry room, and separate entrance; Situated on 2.03 acres with a wooded lot and private outdoor areas
