Brick Duplex with Updated
New
For Sale
$199,900
1063 Winfield Avenue, Cincinnati, OH 45205
Residential Income, Cincinnati, OH
Property Size2,203 SF
Lot Size0.07 Acres
Price / SF$90.74
Days on Market2
Property Features for 1063 Winfield Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Window features
Wood Frames, Vinyl Frames
Fireplace
1
High school district
Cincinnati City SD
Directions
Glenway to Winfield
Subdivision
Hamilton-W04
Standard status
Active
APN
179-0075-0191-00
Size
2,203 SF
Lot size
0.07 Acres
Utilities
Heating system
Forced Air, Natural Gas
Building Details
Year built
1917
Number of units
2
Building materials
Brick
Roof type
Shingle
Listing Agency:
eXp Realty
(216) 242-2322
Listed By:
Marco Fiore
(866) 212-4991
Added: Aug 20
Last Checked: Aug 21 at 11:06PM
MLS# 1891046
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 2,203-square-foot duplex at 1063 Winfield Avenue in Cincinnati combines a one-bedroom unit with a three-bedroom, one-bath unit. Both units are occupied under current leases, extending through 1/1/27 and 9/15/26, respectively. The brick building includes forced-air, natural-gas heating, a fireplace, shingle roofing, and on-street parking. Recent capital work includes a new roof, gutters, electrical panels, and a furnace replacement in Unit 1 completed in 2023. Cosmetic improvements have also been made throughout the property.
The duplex sits on a 0.068-acre lot in West Price Hill. Tenants are responsible for heat and electric, while water is paid by ownership. Built in 1917, the property offers a defined two-unit configuration with documented lease dates and completed system updates.
The duplex sits on a 0.068-acre lot in West Price Hill. Tenants are responsible for heat and electric, while water is paid by ownership. Built in 1917, the property offers a defined two-unit configuration with documented lease dates and completed system updates.
Key Highlights
- Fully occupied duplex with a 1‑bed unit leased through 1/1/27 and a 3‑bed/1‑bath unit leased through 9/15/26
- 2,203 square feet on a 0.068‑acre lot in West Price Hill
- New roof, gutters, and electrical panels
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
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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 occupied units offer one-bedroom and three-bedroom layouts with natural-gas forced-air heating.
Where is this duplex located?
The property is located at 1063 Winfield Avenue 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: Fully occupied duplex with a 1‑bed unit leased through 1/1/27 and a 3‑bed/1‑bath unit leased through 9/15/26; 2,203 square feet on a 0.068‑acre lot in West Price Hill; New roof, gutters, and electrical panels
