Brick Duplex with Two-Car
New
For Sale
$330,000
5631 Colerain Avenue, Cincinnati, OH 45239
Residential Income, Cincinnati, OH
Property Size2,202 SF
Lot Size0.23 Acres
Price / SF$149.86
Days on Market2
Property Features for 5631 Colerain Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Driveway, Garage
Window features
Vinyl Frames
High school district
Cincinnati City SD
Directions
I74 off of I75 to Colerain Ave, North. Cross intersection of W. North Bend Rd & then Kirby Ave., property on left after Goldenrod on right of Colerain
Subdivision
Hamilton-W09
Standard status
Active
APN
231-0003-0063-00
Size
2,202 SF
Lot size
0.23 Acres
Utilities
Heating system
Natural Gas, Forced Air
Building Details
Year built
1951
Number of units
2
Building materials
Brick
Roof type
Shingle
Listing Agency:
Sibcy Cline, Inc.
(513) 931-7700
Listed By:
Barbara Fields
(513) 984-4100
Added: Sep 11
Last Checked: Sep 12 at 10:06AM
MLS# 1893106
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 2,202-square-foot duplex sits on a 0.232-acre lot and was built in 1951 with brick construction and a shingle roof. Both units have been refreshed with new paint and carpet, while each includes its own natural gas furnace and AC system. The property also features forced-air heating, a driveway, and a separate 2-car garage connected to the building by a covered breezeway. Water is paid by the owner.
A Metro bus stop is located nearby, and the property provides access to major highways. Colerain Avenue connects north to shopping, dining, and major arteries, while downtown Cincinnati is approximately 10–20 minutes south by car, with access to theaters, sporting events, Fountain Square, and dining.
A Metro bus stop is located nearby, and the property provides access to major highways. Colerain Avenue connects north to shopping, dining, and major arteries, while downtown Cincinnati is approximately 10–20 minutes south by car, with access to theaters, sporting events, Fountain Square, and dining.
Key Highlights
- 2,202 SF duplex on a 0.232‑acre lot
- Each unit has its own furnace and AC system
- Updated with fresh paint and carpet
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
$18,450
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
5.59%
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%
$369,000
$369.0K
Cap Rate 7%
$263,571
$263.6K
Cap Rate 9%
$205,000
$205.0K
Market Conditions
NOI Build-Up for 2,202 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
$28.0K $12.72/SF
− Vacancy
−$1.7K −$0.75/SF
EGI
$26.4K $11.97/SF
− OpEx
−$7.9K −$3.59/SF
NOI
$18.4K $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%
$369,000
Cap Rate 7%
$263,571
Cap Rate 9%
$205,000
Alternative Uses
Best Use
Multifamily LT 5
$263.6K
$230.6K – $307.5K
NOI $18,450 @ 7.0% cap · market cap 5.59%
Second Best
Apartment 5plus
$233.7K
$204.5K – $272.7K
NOI $16,361 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$437.7K
$383.0K – $510.7K
NOI $30,641 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
438
Businesses Nearby
Explore this area
Business Placement
Demographics for 45239, OH
28,499
Population
12,985
Households
2.2
Avg Household Size
38
Median Age
26%
College-Educated
93%
High-School Grad
6.3 sq mi
ZIP Area
4,524
Density / Sq Mi
$58,276
Median Household Income
$37,094
Median Earnings
$949
Median Rent
$155,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Updated interiors include fresh paint and carpet, with separate furnace and AC systems serving each unit.
Where is this duplex located?
The property is located at 5631 Colerain Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: 2,202 SF duplex on a 0.232‑acre lot; Each unit has its own furnace and AC system; Updated with fresh paint and carpet
