Duplex with Finished Third
For Sale
$280,000
Pending
6101 Contreras Road, Oxford, OH 45056
Residential Income, Oxford, OH
Property Size1,888 SF
Lot Size0.22 Acres
Days on Market101
Property Features for 6101 Contreras Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street, Driveway
Window features
Wood Frames
Patio and Porch features
Porch
Exterior features
Porch
High school district
Talawanda City SD
Directions
High Street becomes Contreras; pass RR crossing & Lynn Street; house on left before Joseph Drive.
Subdivision
Butler-W18
Standard status
Pending
APN
H4100-017-000-133
Size
1,888 SF
Lot size
0.22 Acres
Utilities
Heating system
Hot Water(Heating), Natural Gas
Amenities
covered front porch
Building Details
Year built
1930
Number of units
2
Building materials
Wood Siding
Roof type
Shingle
Listing Agency:
eXp Realty
(216) 242-2322
Listed By:
Ross Tonyan
(866) 212-4991
Added: May 15
Changed: Aug 20
Last Checked: Aug 23 at 1:06AM
MLS# 1878309
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 1,888-square-foot duplex contains two 2-bedroom units within a wood-sided residence built in 1930. Hardwood floors and high ceilings extend through the property, while the second unit adds a finished third floor that expands its living area. A covered front porch, shingle roof, hot water heating, and natural gas service are also included.
The 0.2168-acre property provides both a driveway and on-street parking. It is within walking distance of uptown Oxford and Miami University. The existing duplex configuration supports rental use, and the property may also be converted back to a single-family residence.
The 0.2168-acre property provides both a driveway and on-street parking. It is within walking distance of uptown Oxford and Miami University. The existing duplex configuration supports rental use, and the property may also be converted back to a single-family residence.
Key Highlights
- Two 2‑bedroom units in a 1,888‑square‑foot duplex
- Unit 2 includes a finished third floor
- Built in 1930 with hardwood floors and high ceilings
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
$18,413
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
6.58%
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%
$368,260
$368.3K
Cap Rate 7%
$263,043
$263.0K
Cap Rate 9%
$204,589
$204.6K
Market Conditions
NOI Build-Up for 1,888 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
$28.3K $15.00/SF
− Vacancy
−$2.0K −$1.07/SF
EGI
$26.3K $13.93/SF
− OpEx
−$7.9K −$4.18/SF
NOI
$18.4K $9.75/SF
Area
Butler County, OH
Vacancy
7.12%
Lease Rate
$15.00 /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%
$368,260
Cap Rate 7%
$263,043
Cap Rate 9%
$204,589
Alternative Uses
Best Use
Multifamily LT 5
$263.0K
$230.2K – $306.9K
NOI $18,413 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$242.1K
$211.8K – $282.4K
NOI $16,944 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$373.3K
$326.6K – $435.5K
NOI $26,131 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
Explore this area
Business Placement
Demographics for 45056, OH
28,892
Population
9,702
Households
3
Avg Household Size
25
Median Age
54%
College-Educated
97%
High-School Grad
74.7 sq mi
ZIP Area
387
Density / Sq Mi
$53,413
Median Household Income
$9,944
Median Earnings
$1,004
Median Rent
$247,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom units feature hardwood floors, high ceilings, and separate layouts near uptown Oxford and Miami University.
Where is this duplex located?
The property is located at 6101 Contreras Road Oxford, OH.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Two 2‑bedroom units in a 1,888‑square‑foot duplex; Unit 2 includes a finished third floor; Built in 1930 with hardwood floors and high ceilings
