Updated Duplex with Two
For Sale
$359,900
1764 Williams Avenue, Norwood, OH 45212
Two-unit residential property with refreshed interiors, separate living spaces, and recent mechanical improvements.
Property Size1,756 SF
Price / SF$204.95
Days on Market48
Property Features for 1764 Williams Avenue
General Information
Standard status
Active
Size
1,756 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1918
Listing Agency:
Brk. (513-787-7175), Re/Max Local Experts
(937) 506-8360
Listed By:
Tami Holmes · License #2005015284
(937) 506-8360
Source:
Tami-holmes
Added: Jul 12
Changed: Aug 28
Last Checked: Aug 28 at 7:17AM
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 Brk. (513-787-7175), Re/Max Local Experts
Investment Insights
Based on property information with market context.
This 1,756-square-foot duplex, built in 1918, contains a three-bedroom, one-bath first-floor unit and a two-bedroom, one-bath second-floor unit. Both residences have updated kitchens with quartz countertops, new cabinets, updated lighting, fresh paint, and newer LVP flooring installed in 2024. Each unit also has a fully renovated bathroom.
Major building improvements include two new furnaces and two new central A/C units, both completed in 2025, along with a roof replacement in 2023. The first-floor residence is occupied, while the second-floor unit is vacant and move-in ready. The property is near Factory 52, Rookwood, Oakley, Hyde Park, and I-71.
Major building improvements include two new furnaces and two new central A/C units, both completed in 2025, along with a roof replacement in 2023. The first-floor residence is occupied, while the second-floor unit is vacant and move-in ready. The property is near Factory 52, Rookwood, Oakley, Hyde Park, and I-71.
Key Highlights
- 1,756‑square‑foot duplex with two residential units
- First‑floor unit offers 3 bedrooms and 1 bath
- Second‑floor unit includes 2 bedrooms and 1 bath and is vacant
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
$16,568
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
4.60%
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%
$331,360
$331.4K
Cap Rate 7%
$236,686
$236.7K
Cap Rate 9%
$184,089
$184.1K
Market Conditions
NOI Build-Up for 1,756 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
$25.1K $14.28/SF
− Vacancy
−$1.4K −$0.80/SF
EGI
$23.7K $13.48/SF
− OpEx
−$7.1K −$4.04/SF
NOI
$16.6K $9.44/SF
Area
Hamilton County, OH
Vacancy
5.61%
Lease Rate
$14.28 /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%
$331,360
Cap Rate 7%
$236,686
Cap Rate 9%
$184,089
Alternative Uses
Best Use
Multifamily LT 5
$236.7K
$207.1K – $276.1K
NOI $16,568 @ 7.0% cap · market cap 4.60%
Second Best
Apartment 5plus
$216.6K
$189.5K – $252.7K
NOI $15,159 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$314.8K
$275.5K – $367.3K
NOI $22,037 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
895
Businesses Nearby
Explore this area
Business Placement
Demographics for 45212, OH
21,885
Population
11,027
Households
2
Avg Household Size
33
Median Age
38%
College-Educated
90%
High-School Grad
3.7 sq mi
ZIP Area
5,915
Density / Sq Mi
$63,698
Median Household Income
$43,413
Median Earnings
$932
Median Rent
$229,400
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-unit residential property with refreshed interiors, separate living spaces, and recent mechanical improvements.
Where is this duplex located?
The property is located at 1764 Williams Avenue Norwood, OH.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: 1,756‑square‑foot duplex with two residential units; First‑floor unit offers 3 bedrooms and 1 bath; Second‑floor unit includes 2 bedrooms and 1 bath and is vacant
