Updated Duplex with New
For Sale
$199,900
1063 Winfield Ave, Cincinnati, OH 45205
Fully leased two-unit property with recent major-system upgrades and tenant-paid heat and electric.
Property Size2,203 SF
Price / SF$90.74
Days on Market10
Property Features for 1063 Winfield Ave
General Information
Standard status
Active
Size
2,203 SF
Property subtype
Residential Income
Listing Agency:
eXp Realty
(513) 532-1572
Listed By:
Marco Fiore
(513) 532-1572
Source:
Exprealty
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 26 at 5:32AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This 2,203 SF duplex, built in 1917, contains a one-bedroom unit and a three-bedroom, one-bath unit. Both residences are leased, with terms extending through 1/1/27 and 9/15/26. Interior cosmetic improvements have been completed, while major exterior and electrical work includes a new roof, new gutters, and new electric panels. Unit 1 also received a furnace replacement in 2023.
Located on Winfield Ave in Cincinnati’s West Price Hill area, the property sits on a quiet street. Tenants are responsible for heat and electric, while the owner pays water, providing a clearly defined utility arrangement for the duplex.
Located on Winfield Ave in Cincinnati’s West Price Hill area, the property sits on a quiet street. Tenants are responsible for heat and electric, while the owner pays water, providing a clearly defined utility arrangement for the duplex.
Key Highlights
- 2,203 SF duplex in Cincinnati’s West Price Hill area
- One‑bedroom unit leased through 1/1/27
- Three‑bedroom, 1‑bath unit leased through 9/15/26
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
$16,368
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
8.19%
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%
$327,360
$327.4K
Cap Rate 7%
$233,829
$233.8K
Cap Rate 9%
$181,867
$181.9K
Market Conditions
NOI Build-Up for 2,203 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
$31.5K $14.28/SF
− Vacancy
−$1.7K −$0.77/SF
EGI
$29.8K $13.51/SF
− OpEx
−$13.4K −$6.08/SF
NOI
$16.4K $7.43/SF
Area
Cincinnati, OH
Vacancy
5.40%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
45.00%
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%
$327,360
Cap Rate 7%
$233,829
Cap Rate 9%
$181,867
Alternative Uses
Best Use
Multifamily LT 5
$263.7K
$230.7K – $307.6K
NOI $18,458 @ 7.0% cap · market cap 9.23%
Second Best
Apartment 5plus
$233.8K
$204.6K – $272.8K
NOI $16,368 @ 7.0% cap · market cap 8.19%
Theoretical Best
Office A
$437.9K
$383.2K – $510.9K
NOI $30,655 @ 7.0% cap · market cap 15.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - Fully leased two-unit property with recent major-system upgrades and tenant-paid heat and electric.
Where is this duplex located?
The property is located at 1063 Winfield Ave Cincinnati, OH.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 2,203 SF duplex in Cincinnati’s West Price Hill area; One‑bedroom unit leased through 1/1/27; Three‑bedroom, 1‑bath unit leased through 9/15/26
