Legal Duplex with Separate
For Sale
$749,900
Pending
967 Marion Avenue, Cincinnati, OH 45229
Residential Income, Cincinnati, OH
Property Size5,435 SF
Lot Size0.25 Acres
Days on Market55
Property Features for 967 Marion Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Garage, Driveway, On Street
Window features
Wood Frames, Vinyl Frames
Fireplace
1
High school district
Cincinnati City SD
Directions
SR 42 to Dana Ave. Left on Dakota Ave. Left on Marion Ave. House is on the left.
Subdivision
Hamilton-E01
Standard status
Pending
APN
110-0001-0034-00
Size
5,435 SF
Lot size
0.25 Acres
Utilities
Heating system
Hot Water(Heating), Natural Gas
Building Details
Year built
1897
Number of units
2
Building materials
Stucco, Wood Siding
Roof type
Shingle
Listing Agency:
Keller Williams Advisors · Keller Williams Realty
(513) 874-3300
Listed By:
Jacob Calvert
(513) 766-9200
Added: Jun 29
Changed: Aug 19
Last Checked: Aug 22 at 1:06AM
MLS# 1884758
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 North Avondale home offers a legal duplex setup with two separate entrances that can also meld into a single residence configuration. As described, it can function as an approximately 5,435 square foot single family with six bedrooms and five full baths, or as a duplex. Both units feature updated, well-equipped stainless steel kitchens with gas stoves, overhead microwaves, and double built-in refrigerators. The property includes a fireplace, and it sits on a 0.252-acre lot with a double car garage.
The two units have separate utilities except for water, supporting flexible use for an owner-occupant or rental arrangement. The larger unit is currently owner occupied, while the smaller unit was previously rented by a long-term tenant and is now vacated due to the sale of the property. Parking is available via driveway, on-street, and garage.
Built in 1897, the home is constructed of stucco and wood siding and is served by natural gas hot water heating with a shingle roof. It is walkable to Xavier University and provides an easy drive to downtown and Hyde Park.
The two units have separate utilities except for water, supporting flexible use for an owner-occupant or rental arrangement. The larger unit is currently owner occupied, while the smaller unit was previously rented by a long-term tenant and is now vacated due to the sale of the property. Parking is available via driveway, on-street, and garage.
Built in 1897, the home is constructed of stucco and wood siding and is served by natural gas hot water heating with a shingle roof. It is walkable to Xavier University and provides an easy drive to downtown and Hyde Park.
Key Highlights
- 0.252‑acre lot with a double car garage
- About 5,435 SF home built in 1897
- Legal duplex option with two separate entrances
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
$45,538
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
6.07%
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%
$910,760
$910.8K
Cap Rate 7%
$650,543
$650.5K
Cap Rate 9%
$505,978
$506.0K
Market Conditions
NOI Build-Up for 5,435 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
$69.1K $12.72/SF
− Vacancy
−$4.1K −$0.75/SF
EGI
$65.1K $11.97/SF
− OpEx
−$19.5K −$3.59/SF
NOI
$45.5K $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%
$910,760
Cap Rate 7%
$650,543
Cap Rate 9%
$505,978
Alternative Uses
Best Use
Multifamily LT 5
$650.5K
$569.2K – $759.0K
NOI $45,538 @ 7.0% cap · market cap 6.07%
Second Best
Apartment 5plus
$576.9K
$504.8K – $673.0K
NOI $40,381 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$1.08M
$945.4K – $1.26M
NOI $75,628 @ 7.0% cap · market cap 10.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
519
Businesses Nearby
Explore this area
Business Placement
Demographics for 45229, OH
12,540
Population
7,813
Households
1.6
Avg Household Size
37
Median Age
31%
College-Educated
87%
High-School Grad
2.7 sq mi
ZIP Area
4,644
Density / Sq Mi
$30,829
Median Household Income
$25,772
Median Earnings
$831
Median Rent
$316,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Legal duplex option with updated kitchens, two separate entrances, and separate utilities except water.
Where is this duplex located?
The property is located at 967 Marion Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 0.252‑acre lot with a double car garage; About 5,435 SF home built in 1897; Legal duplex option with two separate entrances
