Income Duplex with Separate
5321 Warren Avenue Norwood, OH 45212
5321 Warren Avenue, Norwood, OH, 45212
$220,000
For Sale
$220,000
MULTI_FAMILY - Norwood, OH
Property Size1,520 SF
Lot Size0.08 Acres
Price / SF$144.74
Days on Market48
Property Features for 5321 Warren Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- On Street, Driveway
- Window features
- Vinyl Frames
- Patio and Porch features
- Porch
- Interior features
- 220 Volt
- Exterior features
- Porch, Balcony
- Standard status
- Active
- APN
- 651-0005-0030-00
- Size
- 1,520 SF
- Lot size
- 0.08 Acres
Utilities
- Heating system
- Forced Air, Natural Gas
Building Details
- Year built
- 1925
- Number of units
- 2
- Building materials
- Vinyl Siding
- Roof type
- Shingle
Listing Agency
eXp Realty
(216) 242-2322
300 E Business Way, Suite 200, Dublin, OH
Listed by
Martin Russell
(866) 212-4991
Added: Jun 1 Checked: Jul 18 at 2:06 pm
MLS# 1881258
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.
Investment Insights
Based on property information with market context.
This well-maintained duplex is set up as two separate units, with individual electric panels, gas meters, furnaces, and water heaters for each side. The property is described as suitable for an owner occupant as the upstairs unit is vacant, while the downstairs unit is currently rented on a month-to-month basis.
Located at 5321 Warren Avenue in Norwood, Ohio, the duplex is positioned to provide convenient access to local amenities and major commuting routes.
With its two-unit configuration and separately metered mechanical/electrical systems, the property may appeal to buyers looking for a straightforward income-producing residential asset.
Located at 5321 Warren Avenue in Norwood, Ohio, the duplex is positioned to provide convenient access to local amenities and major commuting routes.
With its two-unit configuration and separately metered mechanical/electrical systems, the property may appeal to buyers looking for a straightforward income-producing residential asset.
Key Highlights
- Duplex built in 1925 with low‑maintenance vinyl siding and a shingle roof
- Owner‑occupant plan: upstairs is vacant while the downstairs unit is currently rented month to month
- Separate utilities including separate electric panels, gas meters, furnaces, and water heaters
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $21.7k | $14.28 |
| − Vacancy | −$1.2k | −$0.80 |
| EGI | $20.5k | $13.48 |
| − OpEx | −$6.1k | −$4.04 |
| NOI | $14.3k | $9.44 |
1,520 SF · lease $14.28/SF/yr · vacancy 5.61% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$204.9K
$179.3K – $239.0K
NOI $14,342 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$187.5K
$164.0K – $218.7K
NOI $13,122 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$272.5K
$238.4K – $317.9K
NOI $19,075 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Well-maintained duplex offers two separate units with individual electric panels, gas meters, furnaces, and water heaters.
Where is this duplex located?
The property is located at 5321 Warren Avenue Norwood, OH.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Duplex built in 1925 with low‑maintenance vinyl siding and a shingle roof; Owner‑occupant plan: upstairs is vacant while the downstairs unit is currently rented month to month; Separate utilities including separate electric panels, gas meters, furnaces, and water heaters
