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    4138 Homelawn Avenue Cheviot, OH 45211

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    For Sale
    $289,900

    MULTI_FAMILY - Cheviot, OH

    Property size:
    2,700 SF
    Lot size:
    0.16 Acres
    Price / SF:
    $107/SF
    Added:
    May 6, 2026
    Days on Market:
    1
    Last Refresh:
    May 6 at 8:06 pm

    Property Features for 4138 Homelawn Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    Garage, On Street
    Window features
    Aluminum Frames
    Patio and Porch features
    Porch
    Exterior features
    Porch, Balcony
    Standard status
    Active
    Size
    2,700 SF
    Lot size
    0.16 Acres

    Utilities

    Heating system
    Natural Gas, Forced Air

    Building Details

    Year built
    1947
    Number of units
    2
    Building materials
    Brick
    Roof type
    Shingle

    We can help!

    Listing Contact
    Sherilyn Reynolds

    Listing agent Sherilyn Reynolds

    Listing office Lohmiller Real Estate 3654 Edwards Rd., OH

    Listing date May 6, 2026

    MLS# 1878277 Listing URL

    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.

    HighLights

    • Two‑family brick home ideal for owner‑occupancy or investment.
    • Nearly 2700 Sq Ft of living space with well‑maintained units.
    • Updated kitchen and newer windows.
    • Oversized garage and fenced backyard with fire pit.
    • Private basement access for each unit.
    • Large covered front porch and balcony.

    Overview

    Cheviot Two-Family Brick Home

    This beautifully maintained two-family brick home is located in the heart of Cheviot, Ohio, and presents an exceptional opportunity for either owner-occupancy or investment. The property features nearly 2700 square feet of living space and showcases pride of ownership throughout. The second and third-floor units are currently occupied on a month-to-month basis, while the first-floor unit is owner-occupied. Both units are in very good condition and offer attractive living spaces. Newer windows, updated kitchens, and appliances enhance the appeal of the units. Each unit has private access to the basement. Additional features include an oversized garage and a fenced backyard with a fire pit. The property also boasts a large covered front porch and a covered balcony. The charming curb appeal is complete with an American flagpole. Conveniently located near the bus line, the property facilitates easy commuting. The lot size is 0.161 acres. This property offers income potential and long-term value.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Cheviot
    County
    Hamilton
    State
    Ohio
    Longitude
    -84.5998
    Latitude
    39.1585

    Nearby Similar for Sale

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      3,072 SF

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      4224 Applegate Avenue, Cheviot, OH 45211
      View Details
    • $235,000

      Cheviot Two-Family Dwelling

      Two-unit property in Cheviot, ideal for investment.
      3608 Gamble Avenue, Cheviot, OH 45211
      View Details

    FAQs

    What type of property is this?
    Duplex - Well-maintained Cheviot two-family home, ideal for owner-occupant or investment.
    Where is this duplex located?
    The property is located at 4138 Homelawn Avenue Cheviot, OH.
    What is the asking price?
    The asking price for this property is $289,900.
    What are key features of this property?
    This property features: Two‑family brick home ideal for owner‑occupancy or investment.; Nearly 2700 Sq Ft of living space with well‑maintained units.; Updated kitchen and newer windows.
    (812) 537-1023
    We can help!
    Listing Contact
    Sherilyn Reynolds
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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