586 Ridgeway Ave Unit 588 Rochester, NY 14615
Maplewood NeighborhoodEstimated payment $1,312/month
Highlights
- Wood Flooring
- Forced Air Heating System
- Wood Siding
- Corner Lot
- 2 Car Garage
About This Home
Introducing an exceptional investment opportunity in the heart of Rochester’s growing Maplewood/Summit Grove district: 586-588 Ridgeway Ave, a fully-rented duplex built in 1922 featuring two well-appointed 3-bedroom, 1-bath units. Boasting approximately 2,458 sq ft of living space, each unit includes its own dining room, living room, private attic and basement access — plus a detached 2-car garage on Aster Street offering tenant convenience and added value. Recent sale data supports the strong income potential and market appeal of this side-by-side offering. Gross annual rents of $34500, NOI of $28,527 gives an excellent Cap Rate of 15.85% and Cash-on-Cash Return of 63.39% (assuming 25% Down Payment). Professionally managed, and this arrangement could continue.
Listing Agent
Listing by Weichert Realtors - Lilac Properties Brokerage Phone: 585-613-4606 License #10491209190 Listed on: 11/10/2025
Co-Listing Agent
Listing by Weichert Realtors - Lilac Properties Brokerage Phone: 585-613-4606 License #10401384172
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $4,365
Year Built
- Built in 1922
Lot Details
- 5,210 Sq Ft Lot
- Lot Dimensions are 40x130
- Corner Lot
- Rectangular Lot
Parking
- 2 Car Garage
Home Design
- Duplex
- Block Foundation
- Wood Siding
- Aluminum Siding
- Siding
Interior Spaces
- 2,458 Sq Ft Home
- 2-Story Property
- Wood Flooring
- Basement Fills Entire Space Under The House
Bedrooms and Bathrooms
- 6 Bedrooms
- 2 Full Bathrooms
Utilities
- Forced Air Heating System
- Heating System Uses Gas
- Gas Water Heater
- Cable TV Available
Listing and Financial Details
- Rent includes snow removal, trash collection, water
- Tax Lot 77
- Assessor Parcel Number 261400-090-400-0002-077-000-0000
Community Details
Overview
- 2 Units
- Summit Grove Subdivision
Building Details
- 2 Separate Gas Meters
- Operating Expense $1,610
- Gross Income $34,500
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $1,610 | $129,200 | $8,300 | $120,900 |
| 2023 | $1,244 | $80,200 | $6,000 | $74,200 |
| 2022 | $1,311 | $80,200 | $6,000 | $74,200 |
| 2021 | $1,318 | $80,200 | $6,000 | $74,200 |
| 2020 | $1,104 | $80,200 | $6,000 | $74,200 |
| 2019 | $0 | $64,000 | $6,000 | $58,000 |
| 2018 | $2,475 | $64,000 | $6,000 | $58,000 |
| 2017 | $3,837 | $64,000 | $6,000 | $58,000 |
| 2016 | $3,837 | $64,000 | $6,000 | $58,000 |
| 2015 | -- | $69,000 | $6,000 | $63,000 |
| 2014 | -- | $69,000 | $6,000 | $63,000 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 11/13/2025 11/13/25 | Pending | -- | -- | -- | |
| 11/10/2025 11/10/25 | For Sale | $179,900 | +12.5% | $73 / Sq Ft | |
| 06/13/2024 06/13/24 | Sold | $159,900 | 0.0% | $65 / Sq Ft | View Prior Sale |
| 03/30/2024 03/30/24 | Pending | -- | -- | -- | |
| 03/29/2024 03/29/24 | For Sale | $159,900 | +56.8% | $65 / Sq Ft | |
| 02/26/2021 02/26/21 | Sold | $102,000 | +7.5% | $41 / Sq Ft | View Prior Sale |
| 12/20/2020 12/20/20 | Pending | -- | -- | -- | |
| 12/15/2020 12/15/20 | For Sale | $94,900 | -- | $39 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $159,900 | Abar Abstract | |
| Interfamily Deed Transfer | -- | None Available | |
| Deed | $90,000 | -- | |
| Deed | $15,400 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $127,900 | New Conventional | |
| Previous Owner | $81,000 | New Conventional |
Source: Upstate New York Real Estate Information Services (UNYREIS)
MLS Number: R1650217
APN: 261400-090-400-0002-077-000-0000
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