Two-Unit
For Sale
$260,000
1626 Northwood Dr, Cincinnati, OH 45237
Occupied residential income property with separate living units and month-to-month tenancy.
Property Size2,352 SF
Price / SF$110.54
Days on Market14
Property Features for 1626 Northwood Dr
General Information
Standard status
Active
Size
2,352 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1937
Listing Agency:
Beycome Brokerage Realty LLC
(804) 656-5007
Listed By:
Steven Koleno · License #3469487
Source:
Cincylivingwithangela
Added: Aug 16
Changed: Aug 28
Last Checked: Aug 29 at 12:23PM
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 Beycome Brokerage Realty LLC
Investment Insights
Based on property information with market context.
This two-family duplex contains two distinct residential units and is currently occupied. The tenancy is structured on a month-to-month basis, providing a straightforward arrangement for continued operation or future repositioning. Built in 1937, the property is located on Northwood Drive in Cincinnati’s Roselawn area, within ZIP code 45237.
Key Highlights
- Two distinct residential units
- Currently occupied by tenants
- Month‑to‑month tenancy structure
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
$19,707
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
7.58%
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%
$394,140
$394.1K
Cap Rate 7%
$281,529
$281.5K
Cap Rate 9%
$218,967
$219.0K
Market Conditions
NOI Build-Up for 2,352 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
$29.9K $12.72/SF
− Vacancy
−$1.8K −$0.75/SF
EGI
$28.2K $11.97/SF
− OpEx
−$8.4K −$3.59/SF
NOI
$19.7K $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 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%
$394,140
Cap Rate 7%
$281,529
Cap Rate 9%
$218,967
Alternative Uses
Best Use
Multifamily LT 5
$281.5K
$246.3K – $328.5K
NOI $19,707 @ 7.0% cap · market cap 7.58%
Second Best
Apartment 5plus
$249.6K
$218.4K – $291.3K
NOI $17,475 @ 7.0% cap · market cap 6.72%
Theoretical Best
Office A
$467.5K
$409.1K – $545.5K
NOI $32,728 @ 7.0% cap · market cap 12.59%
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
790
Businesses Nearby
Explore this area
Business Placement
Demographics for 45237, OH
21,029
Population
10,976
Households
1.9
Avg Household Size
41
Median Age
29%
College-Educated
88%
High-School Grad
6.1 sq mi
ZIP Area
3,447
Density / Sq Mi
$43,598
Median Household Income
$34,276
Median Earnings
$863
Median Rent
$158,700
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 - Occupied residential income property with separate living units and month-to-month tenancy.
Where is this duplex located?
The property is located at 1626 Northwood Dr Cincinnati, OH.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Two distinct residential units; Currently occupied by tenants; Month‑to‑month tenancy structure
