Renovated Two-Unit
For Sale
$169,900
1235 Sinclair Ave, Steubenville, OH 43952
Each apartment provides four bedrooms and one full bathroom across two stories.
Property Size1,488 SF
Price / SF$114.18
Days on Market61
Property Features for 1235 Sinclair Ave
General Information
Standard status
Active
Size
1,488 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 4BR/1BA
Multifamily Units
2
Building Details
Year Built
1936
Buildings
2
Listing Agency:
Cedar One Realty
(740) 264-7131
Listed By:
Shannon Irvin · License #2018000782
Source:
Searchclevelandhouses
Added: Jun 30
Changed: Aug 29
Last Checked: Aug 29 at 1:30AM
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 Cedar One Realty
Investment Insights
Based on property information with market context.
This 1936 duplex includes two fully separate, two-story apartments within the front building. Each residence contains four bedrooms and one full bathroom, and both have undergone extensive refinishing and renovation. The configuration supports separate occupancy and offers flexibility for longer-term or short-term residential use.
A detached two-story structure is positioned at the rear of the property. Its upper level has been framed and remains ready for completion, subject to any required approvals. The unfinished area could accommodate an additional residential unit, guest suite, studio, office, or other living space, depending on the final design and approvals.
A detached two-story structure is positioned at the rear of the property. Its upper level has been framed and remains ready for completion, subject to any required approvals. The unfinished area could accommodate an additional residential unit, guest suite, studio, office, or other living space, depending on the final design and approvals.
Key Highlights
- Two separate two‑story apartments in the front duplex
- Each apartment includes 4 bedrooms and 1 full bath
- Front duplex has been refinished and renovated
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
$15,070
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
8.87%
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%
$301,400
$301.4K
Cap Rate 7%
$215,286
$215.3K
Cap Rate 9%
$167,444
$167.4K
Market Conditions
NOI Build-Up for 1,488 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
$29.5K $19.80/SF
− Vacancy
−$2.1K −$1.39/SF
EGI
$27.4K $18.41/SF
− OpEx
−$12.3K −$8.29/SF
NOI
$15.1K $10.13/SF
Area
Jefferson County, OH
Vacancy
7.00%
Lease Rate
$19.80 /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%
$301,400
Cap Rate 7%
$215,286
Cap Rate 9%
$167,444
Alternative Uses
Best Use
Multifamily LT 5
$245.0K
$214.4K – $285.9K
NOI $17,152 @ 7.0% cap · market cap 10.10%
Second Best
Apartment 5plus
$215.3K
$188.4K – $251.2K
NOI $15,070 @ 7.0% cap · market cap 8.87%
Theoretical Best
Office A
$299.7K
$262.3K – $349.7K
NOI $20,981 @ 7.0% cap · market cap 12.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
107
Businesses Nearby
Explore this area
Business Placement
Demographics for 43952, OH
17,977
Population
8,613
Households
2.1
Avg Household Size
38
Median Age
25%
College-Educated
91%
High-School Grad
25.7 sq mi
ZIP Area
699
Density / Sq Mi
$46,591
Median Household Income
$27,002
Median Earnings
$751
Median Rent
$122,000
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 - Each apartment provides four bedrooms and one full bathroom across two stories.
Where is this duplex located?
The property is located at 1235 Sinclair Ave Steubenville, OH.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: Two separate two‑story apartments in the front duplex; Each apartment includes 4 bedrooms and 1 full bath; Front duplex has been refinished and renovated
