Updated Duplex on
New
For Sale
$660,000
64-66 Ridgewood Rd, Wadsworth, OH 44281
Two-unit property with updated kitchens, full basements, central air, fireplaces, garages, and private outdoor space.
Property Size3,723 SF
Price / SF$177.28
Days on Market7
Property Features for 64-66 Ridgewood Rd
General Information
Standard status
Active
Size
3,723 SF
Property subtype
Multi-Family
Building Details
Year Built
1978
Listing Agency:
Berkshire Hathaway HomeServices Stouffer Realty
(330) 990-0256
Listed By:
William E Snow · License #2013001675
Source:
Kmlkrealty
Added: Aug 24
Changed: Aug 30
Last Checked: Aug 30 at 11:44AM
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 Berkshire Hathaway HomeServices Stouffer Realty
Investment Insights
Based on property information with market context.
Built in 1978, this duplex includes two residential units with approximately 1,900 square feet per side. Both residences feature updated kitchens, generous living areas, full basements, central air, fireplaces, spacious decks, and a large two-car garage. The property occupies approximately 2.5 acres, providing substantial outdoor space around the buildings.
Located on Ridgewood Road in Sharon Township, the property is within the Highland Local School District and offers access to surrounding communities, shopping, restaurants, and major roadways. The configuration supports separate residential occupancy with garage and outdoor amenities for each side.
Located on Ridgewood Road in Sharon Township, the property is within the Highland Local School District and offers access to surrounding communities, shopping, restaurants, and major roadways. The configuration supports separate residential occupancy with garage and outdoor amenities for each side.
Key Highlights
- Approximately 2.5 acres in Sharon Township
- Approximately 1,900 square feet per side
- Two‑unit duplex with updated kitchens and full basements
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
$33,745
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
5.11%
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%
$674,900
$674.9K
Cap Rate 7%
$482,071
$482.1K
Cap Rate 9%
$374,944
$374.9K
Market Conditions
NOI Build-Up for 3,723 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
$51.4K $13.80/SF
− Vacancy
−$3.2K −$0.85/SF
EGI
$48.2K $12.95/SF
− OpEx
−$14.5K −$3.88/SF
NOI
$33.7K $9.06/SF
Area
Medina County, OH
Vacancy
6.17%
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%
$674,900
Cap Rate 7%
$482,071
Cap Rate 9%
$374,944
Alternative Uses
Best Use
Multifamily LT 5
$482.1K
$421.8K – $562.4K
NOI $33,745 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$420.1K
$367.6K – $490.1K
NOI $29,408 @ 7.0% cap · market cap 4.46%
Theoretical Best
Specialty Retail
$1.04M
$908.7K – $1.21M
NOI $72,692 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
22
Businesses Nearby
Explore this area
Business Placement
Demographics for 44281, OH
33,241
Population
14,298
Households
2.3
Avg Household Size
41
Median Age
42%
College-Educated
96%
High-School Grad
47.8 sq mi
ZIP Area
695
Density / Sq Mi
$88,128
Median Household Income
$46,653
Median Earnings
$1,031
Median Rent
$262,200
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-unit property with updated kitchens, full basements, central air, fireplaces, garages, and private outdoor space.
Where is this duplex located?
The property is located at 64-66 Ridgewood Rd Wadsworth, OH.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: Approximately 2.5 acres in Sharon Township; Approximately 1,900 square feet per side; Two‑unit duplex with updated kitchens and full basements
