Building Details

Year Built 1880

Buildings 1

Listing Agency: Howard Hanna Real Estate Services

Listed By: Tracy L Kauffman · License #2002002519 Show Phone

Source: Theacclaimedrealty

Added: Sep 9 Changed: Sep 10 Last Checked: Sep 10 at 3:16PM

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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 Howard Hanna Real Estate Services

Investment Insights

Based on property information with market context.

Located in Perrysville, this 2,020-square-foot duplex contains two separate residences within an 1880 building. The main-floor unit includes two bedrooms, a living room, kitchen, full bathroom, and first-floor laundry. Its gas furnace was replaced approximately 4–5 years ago and is serviced annually, while the property received a new hot water tank in 2022.

The upper residence provides one bedroom, living and dining areas, a kitchen, full bathroom, and private outdoor deck. This unit uses electric heat and has a new tub, shower, and surround. Newer windows are installed throughout, and each apartment includes an owner-owned stove and refrigerator. The property is offered for sale with layouts that support either rental use or an owner-occupant arrangement.

Key Highlights

• 2,020‑square‑foot duplex in Perrysville
• Two‑bedroom main‑floor unit with first‑floor laundry
• One‑bedroom upper unit with private outdoor deck

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

$17,438

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

8.94%

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%

$348,760 $348.8K

Cap Rate 7%

$249,114 $249.1K

Cap Rate 9%

$193,756 $193.8K

Market Conditions

NOI Build-Up for 2,020 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

$33.7K $16.68/SF

− Vacancy

−$2.0K −$0.98/SF

EGI

$31.7K $15.70/SF

− OpEx

−$14.3K −$7.06/SF

NOI

$17.4K $8.63/SF

Area

Hamilton County, OH

Vacancy

5.90%

Lease Rate

$16.68 /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%

$348,760

Cap Rate 7%

$249,114

Cap Rate 9%

$193,756

Alternative Uses

Best Use

Multifamily LT 5

$272.3K

$238.2K – $317.7K (±1% cap)

NOI $19,059 @ 7.0% cap · market cap 9.77%

Second Best

Apartment 5plus

$249.1K

$218.0K – $290.6K (±1% cap)

NOI $17,438 @ 7.0% cap · market cap 8.94%

Theoretical Best

Office A

$362.1K

$316.9K – $422.5K (±1% cap)

NOI $25,350 @ 7.0% cap · market cap 13.00%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Parking Lot & Garage Plumbing Service Grocery & Convenience Store Garden Center Kitchen & Bath Showroom Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

52

Businesses Nearby

Explore this area Business Placement

Demographics for 44864, OH

3,182

Population

1,575

Households

2

Avg Household Size

45

Median Age

15%

College-Educated

90%

High-School Grad

59.6 sq mi

ZIP Area

53

Density / Sq Mi

$57,500

Median Household Income

$37,829

Median Earnings

$882

Median Rent

$138,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Well-maintained duplex with distinct two- and one-bedroom residences, separate kitchens, full baths, and laundry in the main-floor unit.

Where is this duplex located?

The property is located at 121 N Bridge St Perrysville, OH.

What is the asking price?

The asking price for this property is $195,000.

What are key features of this property?

This property features: 2,020‑square‑foot duplex in Perrysville; Two‑bedroom main‑floor unit with first‑floor laundry; One‑bedroom upper unit with private outdoor deck