Updated Duplex with Detached
For Sale
$179,500
Pending
1031 North B Street, Hamilton, OH 45013
Two separate units offer a two-bedroom first-floor layout and a private-entry one-bedroom upper level.
Property Size1,211 SF
Days on Market17
Property Features for 1031 North B Street
General Information
Standard status
Pending
Size
1,211 SF
Total Parking Spaces
2
Elevators
No
Property subtype
Residential Income / Multi Fam 2-4 units
Zoning
Residential
Site & Location
Highway Access
No
Road Access
No
Public Transit
No
Utilities to Site
No
Units
Unit Mix
1st floor: 1 bedroom, 1 bathroom, living room, kitchen, 2nd floor: 1 bedroom, 1 bathroom, living room, kitchen
Multifamily Units
2
Parking per Unit
1
Additional Details
Furnished
No
Opportunity Zone
No
Sprinkler System
No
Taxes and HOA fees
Annual Taxes
$1,186
Amenities
Window Unit
Forced Air, Gas
Partial
Vinyl, Insulated
Yes
Shingle
Building Details
Year Built
1920
Buildings
1
Stories
2
Abandoned
No
Listing Agency:
Coldwell Banker Realty
(513) 638-0833
Listed By:
Betty Little · License #0000265779
(513) 638-0833
Source:
Compass
Added: Jul 24
Changed: Aug 9
Last Checked: Aug 9 at 6:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 1920 duplex in Hamilton, Ohio, contains two distinct living areas. The first floor includes two bedrooms, a living room, full bathroom, and kitchen. Upstairs, a private entrance leads to a one-bedroom arrangement with a living room and galley kitchen. Residential zoning supports the property’s multifamily configuration.
Recent work includes a roof replacement approximately 6 years ago, one furnace installed approximately 2 years ago, new carpeting in both units, and a new first-floor kitchen countertop. The property also has a gas forced-air heating system and a detached two-car garage; the garage is not warranted.
Recent work includes a roof replacement approximately 6 years ago, one furnace installed approximately 2 years ago, new carpeting in both units, and a new first-floor kitchen countertop. The property also has a gas forced-air heating system and a detached two-car garage; the garage is not warranted.
Key Highlights
- Two‑unit duplex with separate first- and second‑floor living areas
- First floor includes 2 bedrooms, living room, full bath, and kitchen
- Upper unit has a private entrance, 1 bedroom, living room, and galley kitchen
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
$11,810
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%
$236,200
$236.2K
Cap Rate 7%
$168,714
$168.7K
Cap Rate 9%
$131,222
$131.2K
Market Conditions
NOI Build-Up for 1,211 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
$18.2K $15.00/SF
− Vacancy
−$1.3K −$1.07/SF
EGI
$16.9K $13.93/SF
− OpEx
−$5.1K −$4.18/SF
NOI
$11.8K $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%
$236,200
Cap Rate 7%
$168,714
Cap Rate 9%
$131,222
Alternative Uses
Best Use
Multifamily LT 5
$168.7K
$147.6K – $196.8K
NOI $11,810 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$155.3K
$135.9K – $181.1K
NOI $10,868 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$239.4K
$209.5K – $279.4K
NOI $16,761 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
314
Businesses Nearby
Explore this area
Business Placement
Demographics for 45013, OH
53,911
Population
21,734
Households
2.5
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
117.7 sq mi
ZIP Area
458
Density / Sq Mi
$72,932
Median Household Income
$40,730
Median Earnings
$967
Median Rent
$217,200
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 separate units offer a two-bedroom first-floor layout and a private-entry one-bedroom upper level.
Where is this duplex located?
The property is located at 1031 North B Street Hamilton, OH.
What is the asking price?
The asking price for this property is $179,500.
What are key features of this property?
This property features: Two‑unit duplex with separate first- and second‑floor living areas; First floor includes 2 bedrooms, living room, full bath, and kitchen; Upper unit has a private entrance, 1 bedroom, living room, and galley kitchen
