Building Details

Number of units 2

Building materials Vinyl Siding

Roof type Shingle

Listing Agency: Plum Tree Realty B***@PlumTreeRealty.com Show Phone

Listed By: Troy Kutcha · License #2024000279 Show Phone

Added: Aug 13 Changed: Oct 9 Last Checked: Oct 10 at 5:06AM

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MLS# 1890356

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 two-unit residential property in South Lebanon includes updated interior finishes and forced-air heating. The HVAC system was replaced in 2024. One residence is leased, while the other is vacant and ready for occupancy. The property has vinyl siding, a shingle roof, and driveway parking, with 1,168 square feet of building area.

The duplex is located in the Kings Local School District near Kings Island and the Little Miami Bike Trail. I-71 provides access toward Mason, Loveland, and Cincinnati. The owner covers water service and lawn care, while residents pay electric and gas utilities.

Key Highlights

• Duplex totaling 1,168 square feet
• HVAC system replaced in 2024
• One unit leased; second unit vacant and move‑in ready

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$10,790

Cap Rate

3.93%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$215,800 $215.8K

Cap Rate 7%

$154,143 $154.1K

Cap Rate 9%

$119,889 $119.9K

Market Conditions

NOI Build-Up for 1,168 SF

Gross rent

$16.4K $14.04/SF

− Vacancy

−$984 −$0.84/SF

EGI

$15.4K $13.20/SF

− OpEx

−$4.6K −$3.96/SF

NOI

$10.8K $9.24/SF

Area

Warren County, OH

Vacancy

6.00%

Lease Rate

$14.04 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$215,800

Cap Rate 7%

$154,143

Cap Rate 9%

$119,889

Alternative Uses

Best Use

Multifamily LT 5

$154.1K

$134.9K – $179.8K (±1% cap)

NOI $10,790 @ 7.0% cap · market cap 3.93%

Second Best

Apartment 5plus

$137.8K

$120.6K – $160.8K (±1% cap)

NOI $9,648 @ 7.0% cap · market cap 3.51%

Theoretical Best

Office A

$260.9K

$228.3K – $304.4K (±1% cap)

NOI $18,262 @ 7.0% cap · market cap 6.64%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage Kitchen & Bath Showroom Plumbing Service (Bike/Boat/Book/etc) Store Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

140

Businesses Nearby

Explore this area Business Placement

Demographics for 45065, OH

6,725

Population

2,527

Households

2.7

Avg Household Size

35

Median Age

46%

College-Educated

93%

High-School Grad

2.9 sq mi

ZIP Area

2,319

Density / Sq Mi

$107,222

Median Household Income

$49,045

Median Earnings

$1,011

Median Rent

$313,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Two-unit property with refreshed interiors, one occupied residence, and a move-in-ready vacancy.

Where is this duplex located?

The property is located at 199 Mckinley Street South Lebanon, OH.

What is the asking price?

The asking price for this property is $274,900.

What are key features of this property?

This property features: Duplex totaling 1,168 square feet; HVAC system replaced in 2024; One unit leased; second unit vacant and move‑in ready