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    Remodeled Duplex in Lockland, OH Title is generated by Realmo AI

    722 Walnut Street, Lockland, OH 45215

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    Claim this Listing
    Pending
    $144,900

    MULTI_FAMILY - Lockland, OH

    Property size:
    1,076 SF
    Lot size:
    0.09 Acres
    Added:
    Mar 26, 2026
    Days on Market:
    63
    Last Refresh:
    May 27 at 4:06 pm

    Property Features for 722 Walnut Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    On Street
    Window features
    Vinyl Frames
    Patio and Porch features
    Porch, Patio
    Interior features
    220 Volt
    Exterior features
    Patio, Porch, Metal Fence, Privacy Fence
    Fencing
    Fenced, Privacy
    Standard status
    Pending
    APN
    6410004016000
    Size
    1,076 SF
    Lot size
    0.09 Acres

    Utilities

    Heating system
    Natural Gas, Forced Air

    Building Details

    Year built
    1890
    Number of units
    2
    Building materials
    Vinyl Siding
    Roof type
    Shingle

    We can help!

    Listing Contact
    William Elfers

    Listing agent William Elfers

    Listing office ERA REAL Solutions Realty. LLC 6310 E Kemper Rd., Ste 200, West Chester, OH

    Listing date Mar 26, 2026

    MLS# 1872855 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.

    HighLights

    • Turnkey investment property with instant cash flow potential
    • Both units are totally remodeled with updated LTV flooring, electric, roof, windows, HVAC, and appliances
    • Each unit has separate utilities, living room, eat‑in kitchen, laundry hookups, bedroom, and bath
    • Low‑maintenance one‑level building with few steps to doorway
    • Each unit features a concrete patio and yard space
    • Tenant in place paying $950 per month

    Overview

    This turnkey duplex in Lockland, Ohio, presents an opportunity for investors seeking immediate cash flow. The one-level building features remodeled units with few steps to the doorways. Both units have been completely renovated, including LTV flooring, updated electric, roof, windows, and HVAC systems. Multi-panel doors, granite countertops, stainless steel sinks with retractable kitchen faucets, and kitchen appliances enhance the interiors. Ceramic wall surrounds and flooring add to the updated aesthetic. Each unit includes separate utilities, a living room, an eat-in kitchen with electric laundry hookups, a bedroom, and an adjacent bathroom with a tub and shower combo. A concrete patio and yard space are also included. Tenants are responsible for gas and electric, while the owner covers insurance, water, sewer, and trash removal. The property size is 1076 square feet and the lot size is 0.086 acres. One unit is currently occupied by a tenant paying $950 per month on a month-to-month basis after the lease expired.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $100.2K
    NOI $9,015 @ 9.00% cap · cautious / downside scenario
    Moderate
    $128.8K
    NOI $9,015 @ 7.00% cap · market / base-case scenario
    Aggressive
    $180.3K
    NOI $9,015 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $13.7k $12.72
    − Vacancy −$808 −$0.75
    EGI $12.9k $11.97
    − OpEx −$3.9k −$3.59
    NOI $9.0k $8.38
    1,076 SF · lease $12.72/SF/yr · vacancy 5.90% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $128.8K
    $112.7K – $150.3K (±1% cap)
    NOI $9,015 @ 7.0% cap · market cap 6.22%
    Second Best
    Apartment 5plus
    $114.2K
    $99.9K – $133.3K (±1% cap)
    NOI $7,995 @ 7.0% cap · market cap 5.52%
    Theoretical Best
    Office A
    $232.8K
    $203.7K – $271.6K (±1% cap)
    NOI $16,293 @ 7.0% cap · market cap 11.24%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lockland
    County
    Hamilton
    State
    Ohio
    Longitude
    -84.463719
    Latitude
    39.228243

    Nearby Similar for Sale

    • $1,050,000

      Lockland Commercial Building For Sale

      Two-story commercial building with freight elevator and parking.
      109 S Wayne Avenue, Lockland, OH 45215
      View Details
    • $1.00
      2,000 SF

      Lockland Retail Space on Thoroughfare

      Retail space on main Lockland thoroughfare with high traffic.
      301 E Wyoming Avenue, Lockland, OH 45215
      View Details

    FAQs

    What type of property is this?
    Duplex - Turnkey duplex with instant cash flow potential in Lockland.
    Where is this duplex located?
    The property is located at 722 Walnut Street Lockland, OH.
    What is the asking price?
    The asking price for this property is $144,900.
    What are key features of this property?
    This property features: Turnkey investment property with instant cash flow potential; Both units are totally remodeled with updated LTV flooring, electric, roof, windows, HVAC, and appliances; Each unit has separate utilities, living room, eat‑in kitchen, laundry hookups, bedroom, and bath
    (513) 283-4299
    We can help!
    Listing Contact
    William Elfers
    Request Owner's contact information
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    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
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