Updated Brick Duplex with
For Sale
$260,000
1831 W North Bend Rd, Cincinnati, OH 45224
Updated brick property with a two-car garage, off-street parking, and flexible bedroom configurations.
Property Size2,274 SF
Price / SF$114.34
Days on Market28
Property Features for 1831 W North Bend Rd
General Information
Standard status
Active
Size
2,274 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Building Details
Construction
brick
Listing Agency:
Keller Williams Seven Hills Re
(513) 839-0301
Listed By:
D. Joseph Wilhelm
(513) 839-0301
Source:
Exprealty
Added: Jul 25
Changed: Aug 21
Last Checked: Aug 21 at 1:41PM
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 Keller Williams Seven Hills Re
Investment Insights
Based on property information with market context.
This brick duplex contains 2,274 square feet with hardwood floors, high ceilings, and abundant natural light. The layout supports configurations ranging from one to four bedrooms, providing flexibility for occupancy arrangements and rental use. Recent work includes a new roof, driveway replacement, updated windows, and new box gutters. A two-car garage and additional off-street parking are included.
The property is located at 1831 W North Bend Rd in Cincinnati, Ohio, within walking distance of shops, dining, and parks along Hamilton Ave. Major commuter routes are also nearby, adding practical access for residents. The combination of updated exterior components, adaptable interiors, and on-site parking creates a functional duplex offering.
The property is located at 1831 W North Bend Rd in Cincinnati, Ohio, within walking distance of shops, dining, and parks along Hamilton Ave. Major commuter routes are also nearby, adding practical access for residents. The combination of updated exterior components, adaptable interiors, and on-site parking creates a functional duplex offering.
Key Highlights
- 2,274‑square‑foot brick duplex
- Flexible one- to four‑bedroom configurations
- New roof, driveway, windows, and box gutters
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
$19,053
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
7.33%
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%
$381,060
$381.1K
Cap Rate 7%
$272,186
$272.2K
Cap Rate 9%
$211,700
$211.7K
Market Conditions
NOI Build-Up for 2,274 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
$28.9K $12.72/SF
− Vacancy
−$1.7K −$0.75/SF
EGI
$27.2K $11.97/SF
− OpEx
−$8.2K −$3.59/SF
NOI
$19.1K $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%
$381,060
Cap Rate 7%
$272,186
Cap Rate 9%
$211,700
Alternative Uses
Best Use
Multifamily LT 5
$272.2K
$238.2K – $317.6K
NOI $19,053 @ 7.0% cap · market cap 7.33%
Second Best
Apartment 5plus
$241.4K
$211.2K – $281.6K
NOI $16,896 @ 7.0% cap · market cap 6.50%
Theoretical Best
Office A
$452.0K
$395.5K – $527.4K
NOI $31,643 @ 7.0% cap · market cap 12.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
Explore this area
Business Placement
Demographics for 45224, OH
20,214
Population
9,886
Households
2
Avg Household Size
45
Median Age
34%
College-Educated
92%
High-School Grad
6.1 sq mi
ZIP Area
3,314
Density / Sq Mi
$57,754
Median Household Income
$39,579
Median Earnings
$895
Median Rent
$174,400
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 - Updated brick property with a two-car garage, off-street parking, and flexible bedroom configurations.
Where is this duplex located?
The property is located at 1831 W North Bend Rd 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: 2,274‑square‑foot brick duplex; Flexible one- to four‑bedroom configurations; New roof, driveway, windows, and box gutters
