Updated Duplex with
For Sale
$350,000
Pending
96-98 Willowick Drive, Fairport, NY 14450
Residential, Fairport, NY
Property Size2,560 SF
Lot Size0.20 Acres
Days on Market50
Property Features for 96-98 Willowick Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bathroom 3, Bedroom 2, Bathroom 2, Bathroom 1, Bathroom 4, Basement, Bedroom 4, Bedroom 1, Bedroom 3
Parking features
Garage
Appliances
GasWaterHeater
Subdivision
Village Wood Manor Sec 11
Lot features
Irregular Lot, Residential Lot
Elementary school district
Fairport
Middle school district
Fairport
High school district
Fairport
Directions
Ayrault to Willowick
Standard status
Pending
APN
264489-166-140-0002-079-000
Size
2,560 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
7317
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1974
Floors in Building
2
Number of units
2
Flooring type
Varies, Carpet, Laminate, Tile
Building materials
WoodSiding, CopperPlumbing
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Realty Greater Rochester
(585) 362-8900
Listed By:
Nicholas J Wenderlich · License #10401252003
(585) 340-4894
Added: Jul 28
Changed: Sep 15
Last Checked: Sep 15 at 9:06PM
MLS# R1702423
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.
Located at 96-98 Willowick Drive in Fairport, this 2,560-square-foot duplex was built in 1974 and includes two residential units. One unit features an updated kitchen and bathroom, while the property offers varied flooring, wood siding, asphalt shingle roofing, and a basement. Heating is provided by a forced-air natural gas system, with public water service and a gas water heater. Garage parking is included.
The property occupies 0.2 acres in Fairport, NY, with nearby access to Fairport High School, Wegmans, shopping plazas, local boutiques, and restaurants. Major mechanical systems throughout the property are 10 years old or less, providing a defined age profile for key building components.
The property occupies 0.2 acres in Fairport, NY, with nearby access to Fairport High School, Wegmans, shopping plazas, local boutiques, and restaurants. Major mechanical systems throughout the property are 10 years old or less, providing a defined age profile for key building components.
Key Highlights
- 2,560‑square‑foot duplex on a 0.2‑acre lot
- One unit has an updated kitchen and bathroom
- Major mechanical systems are 10 years old or less
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
$23,864
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
6.82%
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%
$477,280
$477.3K
Cap Rate 7%
$340,914
$340.9K
Cap Rate 9%
$265,156
$265.2K
Market Conditions
NOI Build-Up for 2,560 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
$35.3K $13.80/SF
− Vacancy
−$1.2K −$0.48/SF
EGI
$34.1K $13.32/SF
− OpEx
−$10.2K −$4.00/SF
NOI
$23.9K $9.32/SF
Area
Monroe County, NY
Vacancy
3.50%
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%
$477,280
Cap Rate 7%
$340,914
Cap Rate 9%
$265,156
Alternative Uses
Best Use
Multifamily LT 5
$340.9K
$298.3K – $397.7K
NOI $23,864 @ 7.0% cap · market cap 6.82%
Second Best
Apartment 5plus
$307.9K
$269.4K – $359.3K
NOI $21,555 @ 7.0% cap · market cap 6.16%
Theoretical Best
Specialty Retail
$491.4K
$430.0K – $573.4K
NOI $34,401 @ 7.0% cap · market cap 9.83%
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
95
Businesses Nearby
Explore this area
Business Placement
Demographics for 14450, NY
42,633
Population
19,054
Households
2.2
Avg Household Size
47
Median Age
60%
College-Educated
97%
High-School Grad
32.0 sq mi
ZIP Area
1,332
Density / Sq Mi
$109,543
Median Household Income
$62,613
Median Earnings
$1,258
Median Rent
$281,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - One unit includes an updated kitchen and bathroom, with forced-air natural-gas heating and garage parking.
Where is this duplex located?
The property is located at 96-98 Willowick Drive Fairport, NY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,560‑square‑foot duplex on a 0.2‑acre lot; One unit has an updated kitchen and bathroom; Major mechanical systems are 10 years old or less
