Duplex with
New
For Sale
$179,900
1129 McPherson Avenue, Cincinnati, OH 45205
Residential Income, Cincinnati, OH
Property Size1,472 SF
Lot Size0.07 Acres
Price / SF$122.21
Days on Market2
Property Features for 1129 McPherson Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Exterior features
Balcony
High school district
Cincinnati City SD
Directions
Glenway to McPherson
Subdivision
Hamilton-W04
Standard status
Active
APN
174-0008-0023-00
Size
1,472 SF
Lot size
0.07 Acres
Utilities
Heating system
Forced Air, Natural Gas
Building Details
Year built
1923
Number of units
2
Building materials
Aluminum Siding
Roof type
Shingle
Listing Agency:
Keller Williams Pinnacle Group · Keller Williams Realty
Listed By:
Davan Gassett
(513) 277-0996
Added: Oct 7
Last Checked: Oct 8 at 9:06AM
MLS# 1896395
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.
Built in 1923, this 1,472-square-foot duplex has two vacant units, each arranged with two bedrooms and one bathroom. A basement efficiency-style living area is also present, but it is not a legal unit. The building has aluminum siding, a shingle roof, and a balcony. Heating is forced air with natural gas, and parking is on the street.
The property sits on a 0.074-acre lot at 1129 McPherson Avenue in Cincinnati, Ohio. The two-unit configuration and existing basement area are part of the current physical layout; any future use of the basement area would require verification with the appropriate authorities.
The property sits on a 0.074-acre lot at 1129 McPherson Avenue in Cincinnati, Ohio. The two-unit configuration and existing basement area are part of the current physical layout; any future use of the basement area would require verification with the appropriate authorities.
Key Highlights
- Two vacant units, each with 2 bedrooms and 1 bathroom
- 1,472 square feet of building area on a 0.074‑acre lot
- Basement includes an efficiency‑style area that is not a legal unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,333
Cap Rate
6.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$246,660
$246.7K
Cap Rate 7%
$176,186
$176.2K
Cap Rate 9%
$137,033
$137.0K
Market Conditions
NOI Build-Up for 1,472 SF
Gross rent
$18.7K $12.72/SF
− Vacancy
−$1.1K −$0.75/SF
EGI
$17.6K $11.97/SF
− OpEx
−$5.3K −$3.59/SF
NOI
$12.3K $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 Rate 5%
$246,660
Cap Rate 7%
$176,186
Cap Rate 9%
$137,033
Alternative Uses
Best Use
Multifamily LT 5
$176.2K
$154.2K – $205.6K
NOI $12,333 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$156.2K
$136.7K – $182.3K
NOI $10,937 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$292.6K
$256.0K – $341.4K
NOI $20,483 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
457
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
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Both units are vacant and have two-bedroom, one-bath layouts, with a basement living area that is not a legal unit.
Where is this duplex located?
The property is located at 1129 McPherson Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: Two vacant units, each with 2 bedrooms and 1 bathroom; 1,472 square feet of building area on a 0.074‑acre lot; Basement includes an efficiency‑style area that is not a legal unit
