Updated Duplex with Basement
New
For Sale
$425,000
2874 Wasson Road, Cincinnati, OH 45209
Residential Income, Cincinnati, OH
Property Size1,520 SF
Lot Size0.09 Acres
Price / SF$279.61
Days on Market3
Property Features for 2874 Wasson Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street, Driveway
Window features
Vinyl Frames
High school district
Cincinnati City SD
Directions
Linwood to Paxton to Wasson
Subdivision
Hamilton-E04
Standard status
Active
APN
0400002008500
Size
1,520 SF
Lot size
0.09 Acres
Utilities
Heating system
Forced Air, Natural Gas
Amenities
Off street parking
basement storage
wash and dryer hook ups
Building Details
Year built
1915
Number of units
2
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
eXp Realty
(216) 242-2322
Listed By:
Douglas Pfingstag
(866) 212-4991
Added: Aug 20
Last Checked: Aug 22 at 9:06AM
MLS# 1891104
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 1,520-square-foot duplex contains two one-bedroom, one-bath units. Hardwood flooring runs throughout, while kitchen and bathroom improvements were completed in 2025. Interior and exterior painting was also completed that year. The property includes vinyl siding, shingle roofing, forced-air natural gas heat, driveway parking, and basement storage with washer and dryer hookups.
Located at 2874 Wasson Road in Cincinnati, the property is near I-71, the lateral, Rookwood Commons, Kroger, Hyde Park, and Oakley Square. Both units are leased, and the property has a rental history described as easy to lease.
Located at 2874 Wasson Road in Cincinnati, the property is near I-71, the lateral, Rookwood Commons, Kroger, Hyde Park, and Oakley Square. Both units are leased, and the property has a rental history described as easy to lease.
Key Highlights
- Two one‑bedroom, one‑bath units in a 1,520‑square‑foot duplex
- Kitchen and bathroom updates completed in 2025
- Interior and exterior painting completed in 2025
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
$12,736
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
3.00%
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%
$254,720
$254.7K
Cap Rate 7%
$181,943
$181.9K
Cap Rate 9%
$141,511
$141.5K
Market Conditions
NOI Build-Up for 1,520 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
$19.3K $12.72/SF
− Vacancy
−$1.1K −$0.75/SF
EGI
$18.2K $11.97/SF
− OpEx
−$5.5K −$3.59/SF
NOI
$12.7K $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%
$254,720
Cap Rate 7%
$181,943
Cap Rate 9%
$141,511
Alternative Uses
Best Use
Multifamily LT 5
$181.9K
$159.2K – $212.3K
NOI $12,736 @ 7.0% cap · market cap 3.00%
Second Best
Apartment 5plus
$161.3K
$141.2K – $188.2K
NOI $11,293 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$302.2K
$264.4K – $352.5K
NOI $21,151 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,163
Businesses Nearby
Explore this area
Business Placement
Demographics for 45209, OH
10,708
Population
6,592
Households
1.6
Avg Household Size
32
Median Age
75%
College-Educated
96%
High-School Grad
2.3 sq mi
ZIP Area
4,656
Density / Sq Mi
$87,841
Median Household Income
$67,356
Median Earnings
$1,291
Median Rent
$386,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two leased units offer renovated kitchens and baths, off-street parking, and basement laundry hookups.
Where is this duplex located?
The property is located at 2874 Wasson Road Cincinnati, OH.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two one‑bedroom, one‑bath units in a 1,520‑square‑foot duplex; Kitchen and bathroom updates completed in 2025; Interior and exterior painting completed in 2025
