Two-Unit Duplex with
For Sale
$225,000
1827 Tilden Avenue, Norwood, OH 45212
Residential Income, Norwood, OH
Property Size1,520 SF
Lot Size0.08 Acres
Price / SF$148.03
Days on Market54
Property Features for 1827 Tilden Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Driveway
Window features
Vinyl Frames
Exterior features
Balcony
High school district
Norwood City SD
Directions
Norwood lateral exit to south onto Montgomery Road, West onto Sherman, North onto Franklin, Left onto Tilden Avenue.
Subdivision
Hamilton-E02
Standard status
Active
APN
651-0048-0064-00
Size
1,520 SF
Lot size
0.08 Acres
Utilities
Heating system
Natural Gas, Forced Air
Amenities
shared laundry
basement storage
covered second-floor balcony
backyard
Building Details
Year built
1906
Number of units
2
Building materials
Wood Siding
Roof type
Shingle
Listing Agency:
eXp Realty
(216) 242-2322
Listed By:
Denise Taylor
(866) 212-4991
Added: Jun 29
Changed: Aug 20
Last Checked: Aug 21 at 7:06PM
MLS# 1884867
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.
This 1,520-square-foot duplex contains two tenant-occupied units with a practical mix of living spaces. The upper residence has two bedrooms and one full bath, while the lower residence provides one bedroom and one full bath. Updated kitchens and bathrooms are complemented by hardwood and laminate flooring. Separate gas and electric meters serve the units, and shared laundry and basement storage add functional support space. A one-car built-in garage, driveway, covered second-floor balcony, and backyard are also included.
Built in 1906 and clad in wood siding, the property is heated by natural gas forced air and topped with a shingle roof. The Norwood location places the duplex near Xavier University, schools, hospitals, shopping, dining, parks, and major highways. Both residences are currently occupied under existing lease arrangements.
Built in 1906 and clad in wood siding, the property is heated by natural gas forced air and topped with a shingle roof. The Norwood location places the duplex near Xavier University, schools, hospitals, shopping, dining, parks, and major highways. Both residences are currently occupied under existing lease arrangements.
Key Highlights
- Two‑unit duplex totaling 1,520 Square Feet
- Upper unit: two bedrooms and one full bath; lower unit: one bedroom and one full bath
- Both units currently tenant occupied
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
$14,342
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
6.37%
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%
$286,840
$286.8K
Cap Rate 7%
$204,886
$204.9K
Cap Rate 9%
$159,356
$159.4K
Market Conditions
NOI Build-Up for 1,520 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
$21.7K $14.28/SF
− Vacancy
−$1.2K −$0.80/SF
EGI
$20.5K $13.48/SF
− OpEx
−$6.1K −$4.04/SF
NOI
$14.3K $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%
$286,840
Cap Rate 7%
$204,886
Cap Rate 9%
$159,356
Alternative Uses
Best Use
Multifamily LT 5
$204.9K
$179.3K – $239.0K
NOI $14,342 @ 7.0% cap · market cap 6.37%
Second Best
Apartment 5plus
$187.5K
$164.0K – $218.7K
NOI $13,122 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$272.5K
$238.4K – $317.9K
NOI $19,075 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,028
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied duplex with separately metered utilities, shared laundry, basement storage, and a covered balcony.
Where is this duplex located?
The property is located at 1827 Tilden Avenue Norwood, OH.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,520 Square Feet; Upper unit: two bedrooms and one full bath; lower unit: one bedroom and one full bath; Both units currently tenant occupied
