Duplex with Covered
For Sale
$209,900
1027 Winfield Avenue, Cincinnati, OH 45205
Residential Income, Cincinnati, OH
Property Size2,093 SF
Price / SF$100.29
Days on Market114
Property Features for 1027 Winfield Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Window features
Vinyl Frames
Patio and Porch features
Porch
Exterior features
Porch, Wood Fence, Metal Fence
Fencing
Wood, Fenced
High school district
Cincinnati City SD
Directions
Glenway to Winfield
Subdivision
Hamilton-W04
Standard status
Active
APN
179-0075-0200-00
Size
2,093 SF
Utilities
Heating system
Forced Air, Natural Gas
Amenities
fenced lot
covered porches
central AC
basement
Building Details
Year built
1901
Number of units
2
Building materials
Vinyl Siding
Roof type
Slate
Listing Agency:
eXp Realty
(216) 242-2322
Listed By:
Shelley Helton
(866) 212-4991
Added: May 8
Changed: Aug 20
Last Checked: Aug 29 at 8:06PM
MLS# 1878460
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 2,093-square-foot duplex, built in 1901, contains two residential units with distinct layouts. The first-floor residence has one bedroom and one full bathroom, while the second-floor unit includes three bedrooms and one full bathroom. Both units feature spacious living areas and covered porches. Central AC has been installed, and the clean, dry basement provides additional storage. Vinyl siding, a slate roof, forced-air heating, and natural gas service are among the property improvements and systems.
The property sits on a large fenced lot in Cincinnati, with both wood and metal fencing. On-street parking is provided. The existing configuration supports either an owner-occupant seeking a two-unit home or an investor acquiring a residential income property.
The property sits on a large fenced lot in Cincinnati, with both wood and metal fencing. On-street parking is provided. The existing configuration supports either an owner-occupant seeking a two-unit home or an investor acquiring a residential income property.
Key Highlights
- 2,093‑square‑foot duplex with two residential units
- First‑floor unit: 1 bedroom and 1 full bath
- Second‑floor unit: 3 bedrooms and 1 full bath
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
$17,537
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
8.35%
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%
$350,740
$350.7K
Cap Rate 7%
$250,529
$250.5K
Cap Rate 9%
$194,856
$194.9K
Market Conditions
NOI Build-Up for 2,093 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
$26.6K $12.72/SF
− Vacancy
−$1.6K −$0.75/SF
EGI
$25.1K $11.97/SF
− OpEx
−$7.5K −$3.59/SF
NOI
$17.5K $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%
$350,740
Cap Rate 7%
$250,529
Cap Rate 9%
$194,856
Alternative Uses
Best Use
Multifamily LT 5
$250.5K
$219.2K – $292.3K
NOI $17,537 @ 7.0% cap · market cap 8.35%
Second Best
Apartment 5plus
$222.2K
$194.4K – $259.2K
NOI $15,551 @ 7.0% cap · market cap 7.41%
Theoretical Best
Office A
$416.1K
$364.1K – $485.4K
NOI $29,124 @ 7.0% cap · market cap 13.88%
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
339
Businesses Nearby
Explore this area
Business Placement
Demographics for 45205, OH
19,517
Population
7,874
Households
2.5
Avg Household Size
31
Median Age
17%
College-Educated
82%
High-School Grad
2.8 sq mi
ZIP Area
6,970
Density / Sq Mi
$41,357
Median Household Income
$32,537
Median Earnings
$855
Median Rent
$112,600
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-unit property offering central AC, basement storage, and a fenced lot for owner-occupant or investment use.
Where is this duplex located?
The property is located at 1027 Winfield Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: 2,093‑square‑foot duplex with two residential units; First‑floor unit: 1 bedroom and 1 full bath; Second‑floor unit: 3 bedrooms and 1 full bath
