Two-Unit Duplex with
For Sale
$249,900
620 Riddle Road, Cincinnati, OH 45220
Residential Income, Cincinnati, OH
Property Size1,640 SF
Lot Size0.09 Acres
Price / SF$152.38
Days on Market10
Property Features for 620 Riddle Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Driveway
Window features
Wood Frames
Patio and Porch features
Patio
Exterior features
Patio, Metal Fence
Fencing
Fenced
High school district
Cincinnati City SD
Directions
Martin Luther King Drive W to Riddle Road. Property will be on the right.
Subdivision
Hamilton-E01
Standard status
Active
APN
099-0003-0023-00
Size
1,640 SF
Lot size
0.09 Acres
Utilities
Heating system
Forced Air, Natural Gas
Amenities
full basement
Building Details
Year built
1885
Number of units
2
Building materials
Aluminum Siding
Roof type
Shingle
Listing Agency:
Keller Williams Advisors · Keller Williams Realty
Listed By:
Hannah Franzen
(513) 766-9200
Added: Sep 14
Changed: Sep 17
Last Checked: Sep 23 at 7:06PM
MLS# 1893152
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 Cincinnati duplex contains two residential units with a combined 3 bedrooms and 2 full baths across approximately 1,640 square feet. The property includes a full basement, shingle roofing, aluminum siding, forced-air heating fueled by natural gas, and a driveway. Both units are currently vacant, allowing the next owner to establish occupancy or configure the property for personal use.
The 0.091-acre parcel is located near the University of Cincinnati and downtown, with a patio and metal fencing among the exterior features. Built in 1885, the property presents a two-unit residential configuration with established building improvements and separate living spaces.
The 0.091-acre parcel is located near the University of Cincinnati and downtown, with a patio and metal fencing among the exterior features. Built in 1885, the property presents a two-unit residential configuration with established building improvements and separate living spaces.
Key Highlights
- Two‑unit duplex with 3 total bedrooms and 2 full baths
- Approximately 1,640 square feet with a full basement
- 0.091‑acre parcel built in 1885
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
$13,741
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
5.50%
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%
$274,820
$274.8K
Cap Rate 7%
$196,300
$196.3K
Cap Rate 9%
$152,678
$152.7K
Market Conditions
NOI Build-Up for 1,640 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
$20.9K $12.72/SF
− Vacancy
−$1.2K −$0.75/SF
EGI
$19.6K $11.97/SF
− OpEx
−$5.9K −$3.59/SF
NOI
$13.7K $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%
$274,820
Cap Rate 7%
$196,300
Cap Rate 9%
$152,678
Alternative Uses
Best Use
Multifamily LT 5
$196.3K
$171.8K – $229.0K
NOI $13,741 @ 7.0% cap · market cap 5.50%
Second Best
Apartment 5plus
$174.1K
$152.3K – $203.1K
NOI $12,185 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$326.0K
$285.3K – $380.4K
NOI $22,821 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,946
Businesses Nearby
Explore this area
Business Placement
Demographics for 45220, OH
15,466
Population
7,400
Households
2.1
Avg Household Size
28
Median Age
63%
College-Educated
96%
High-School Grad
2.9 sq mi
ZIP Area
5,333
Density / Sq Mi
$51,404
Median Household Income
$26,866
Median Earnings
$954
Median Rent
$385,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant duplex with separate units, a fenced patio, driveway parking, and access to the University of Cincinnati and downtown.
Where is this duplex located?
The property is located at 620 Riddle Road Cincinnati, OH.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two‑unit duplex with 3 total bedrooms and 2 full baths; Approximately 1,640 square feet with a full basement; 0.091‑acre parcel built in 1885
