Duplex with Private
For Sale
$189,900
1843 Northcutt Avenue, Cincinnati, OH 45237
Residential Income, Cincinnati, OH
Property Size1,680 SF
Lot Size0.13 Acres
Price / SF$113.04
Days on Market78
Property Features for 1843 Northcutt Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Driveway, Off Street, On Street
Patio and Porch features
Porch
Exterior features
Porch, Yard Lights
High school district
Cincinnati City SD
Directions
Reading Rd to Northcutt
Subdivision
Hamilton-E02
Standard status
Active
APN
119-0001-0132-00
Size
1,680 SF
Lot size
0.13 Acres
Utilities
Heating system
Forced Air
Amenities
private entrance
porch
Building Details
Year built
1927
Number of units
2
Building materials
Vinyl Siding
Roof type
Membrane
Listing Agency:
RE/MAX Preferred Group · RE/MAX International
(513) 229-7774
Listed By:
Kyria Graves
(513) 533-4111
Added: Jun 23
Changed: Sep 2
Last Checked: Sep 8 at 11:06AM
MLS# 1884266
Copyright © 2026 MLS of Greater Cincinnati, Inc. 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 1,680-square-foot duplex contains two residential units, each with a separate entrance and porch. Both layouts include one bedroom, with one unit also using the lower level as an additional bedroom. Separate utilities support distinct unit operations, while month-to-month tenancy provides existing occupancy with flexible lease terms.
The property occupies 0.134 acres and includes a long driveway, off-street parking, on-street parking, yard lights, and porch space. Built in 1927, the home has vinyl siding, forced-air heat, and a membrane roof. Its Cincinnati location places the property on the bus line, providing public transportation access for residents.
The property occupies 0.134 acres and includes a long driveway, off-street parking, on-street parking, yard lights, and porch space. Built in 1927, the home has vinyl siding, forced-air heat, and a membrane roof. Its Cincinnati location places the property on the bus line, providing public transportation access for residents.
Key Highlights
- Two‑unit duplex with 1,680 SF of total property size
- Both units have separate entrances, private porches, and separate utilities
- One‑bedroom layouts, with one unit using the lower level as an additional bedroom
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
$14,076
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
7.41%
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%
$281,520
$281.5K
Cap Rate 7%
$201,086
$201.1K
Cap Rate 9%
$156,400
$156.4K
Market Conditions
NOI Build-Up for 1,680 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
$21.4K $12.72/SF
− Vacancy
−$1.3K −$0.75/SF
EGI
$20.1K $11.97/SF
− OpEx
−$6.0K −$3.59/SF
NOI
$14.1K $8.38/SF
Area
Cincinnati, OH
Vacancy
5.90%
Lease Rate
$12.72 /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%
$281,520
Cap Rate 7%
$201,086
Cap Rate 9%
$156,400
Alternative Uses
Best Use
Multifamily LT 5
$201.1K
$176.0K – $234.6K
NOI $14,076 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$178.3K
$156.0K – $208.0K
NOI $12,482 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$334.0K
$292.2K – $389.6K
NOI $23,377 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
569
Businesses Nearby
Explore this area
Business Placement
Demographics for 45237, OH
21,029
Population
10,976
Households
1.9
Avg Household Size
41
Median Age
29%
College-Educated
88%
High-School Grad
6.1 sq mi
ZIP Area
3,447
Density / Sq Mi
$43,598
Median Household Income
$34,276
Median Earnings
$863
Median Rent
$158,700
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 residential units offer separate utilities, individual porches, and off-street parking near bus service.
Where is this duplex located?
The property is located at 1843 Northcutt Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,680 SF of total property size; Both units have separate entrances, private porches, and separate utilities; One‑bedroom layouts, with one unit using the lower level as an additional bedroom
