Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5183 Cleves Warsaw Rd Cincinnati, OH 45238

    Sponsored
    For Sale
    Pending
    $359,000

    MULTI_FAMILY - Delhi Twp, OH

    Property size:
    2,936 SF
    Lot size:
    0.22 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 17 at 7:06 am

    Property Features for 5183 Cleves Warsaw Rd

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Pending
    Window features
    Vinyl Frames
    APN
    540-0051-0441-00
    Parking features
    Driveway
    Patio and Porch features
    Patio, Porch
    Interior features
    Storage Area
    Exterior features
    Patio, Porch, Balcony
    Fireplace
    1
    Size
    2,936 SF
    Lot size
    0.22 Acres

    Utilities

    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1941
    Floors in Building
    2
    Number of units
    2
    Building materials
    Brick
    Roof type
    Shingle
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Tyler Smith
    Tyler Smith

    RE/MAX UNITED ASSOCIATES (513) 655-2300

    Listing agent Tyler Smith

    Listing date Feb 16, 2026

    MLS# 1868631 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.

    Learn more

    Property Insight Report

    Overview

    Updated Duplex in Oak Hills

    This is a turn-key, highly updated two-family property located in the Oak Hills School District. Each unit features 2 bedrooms, 1 bath, a formal dining room, a family room with a brick fireplace, and a full kitchen. The first-floor unit has been highly updated, including a renovated granite kitchen with newer cabinets, sink, and stainless steel appliances. The property features fresh paint, lush carpet, and new tile ceilings. Dual HVAC systems were newly installed in 2023, and the roof is 7 years old. It also includes 2 hot water heaters, new exterior doors, and some new windows. Separate utilities are in place. The large, dry basement includes 2 washer/dryer hookups, storage, and a finished rec room. There is also a 2-car attached and built-in rear entry garage. Both units have spacious balconies. The property size is 2936 square feet and the lot size is 0.219 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cincinnati
    County
    Clermont
    State
    Ohio
    Longitude
    -84.611206
    Latitude
    39.118375

    Nearby Similar for Sale

    • $1,399,000
      10,032 SF

      Two-Story Commercial Space in Oakley

      Well-kept commercial building in Oakley with move-in-ready office space.
      3927 Brotherton Rd, Cincinnati, OH 45209
      View Details
    • $319,000
      Pending

      Colonial Two-Family Home

      Two-family home in Oak Hills school district with hardwood floors.
      1141 Covedale Ave, Cincinnati, OH 45238
      View Details
    • New
      $375,000
      1,602 SF

      Updated Duplex in Cincinnati

      Updated duplex with rental income potential in Cincinnati, Ohio.
      3551 Harrow Ave, Cincinnati, OH 45209
      View Details
    • $324,900
      Pending

      High-Traffic Office/Retail Building For Sale

      Office/retail building in White Oak with high traffic and garage.
      5709 Cheviot Rd, Cincinnati, OH 45247
      View Details
    • $613,000
      3,476 SF

      Historic Over-the-Rhine Tenement Building

      Rare opportunity to own a piece of Cincinnati history.
      1808 Vine St, Cincinnati, OH 45202
      View Details
    • $399,000
      Pending

      Cincinnati Duplex with Development Potential

      Duplex in Walnut Hills with development opportunity, leased until 2026.
      2199 Victory Pkwy, Cincinnati, OH 45206
      View Details
    • New
      Contact for pricing
      Pending

      Bar/Restaurant/Retail Spaces Available

      Second generation bar/restaurant/retail spaces for sale.
      2015 Madison Rd, Cincinnati, OH 45208
      View Details
    • $399,000
      Pending

      Multifamily Property Near UC Campus

      Fully leased investment opportunity near hospitals and UC campus.
      3010 Burnet Ave, Cincinnati, OH 45219
      View Details
    • Contact for pricing
      1.04 Acres

      Office & Warehouse Space Available

      15,000 sqft office and warehouse space for lease.
      2612 Gibert Ave, Cincinnati, OH 45206
      View Details
    • $235,000
      2,434 SF

      Vacant Duplex in Price Hill

      Vacant duplex in Price Hill, Cincinnati, ideal for owner-occupant or investor.
      578 Rosemont Ave, Cincinnati, OH 45205
      View Details
    • Contact for pricing
      3,860 SF

      Commercial Space Near Convention Center

      Flexible commercial space with potential for multi-tiered hospitality experience.
      126 W 6Th St, Cincinnati, OH 45202
      View Details
    • New
      Contact for pricing
      Pending

      Restaurant/Bar Space on High-Vis Corner

      3,300 SF restaurant/bar with 1,700 SF outdoor patio.
      3538 Columbia Pkwy, Cincinnati, OH 45226
      View Details

    FAQs

    What type of property is this?
    Duplex - Immaculate, updated duplex in Oak Hills School District.
    Where is this duplex located?
    The property is located at 5183 Cleves Warsaw Rd Cincinnati, OH.
    What is the asking price?
    The asking price for this property is $359,000.
    What are key features of this property?
    This property features: - Updated two-family home in Oak Hills School District; - First floor unit features a renovated granite kitchen with stainless steel appliances; - **Dual HVAC systems new in 2023**
    (513) 655-2300
    Request Owner's contact information
    5183 Cleves Warsaw Rd Cincinnati, OH 45238
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5183 Cleves Warsaw Rd
    Cincinnati, OH 45238
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    5183 Cleves Warsaw Rd Cincinnati, OH 45238
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Tyler Smith
    Tyler Smith
    Real Estate License ID: 2013002705
    (513) 655-2300 (513) 293-8971 (513) 229-7774
    Learn more
    Google sign-in failed. Please try again or use another login method.