Two-Unit Duplex with Updated
New
For Sale
$279,900
2021 Burnet Avenue, Cincinnati, OH 45219
Residential Income, Cincinnati, OH
Property Size1,971 SF
Lot Size0.12 Acres
Price / SF$142.01
Days on Market7
Property Features for 2021 Burnet Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Window features
Wood Frames
High school district
Cincinnati City SD
Directions
Dorchester to Burnet.
Subdivision
Hamilton-E01
Standard status
Active
APN
087-0006-0084-00
Size
1,971 SF
Lot size
0.12 Acres
Utilities
Heating system
Forced Air, Natural Gas
Building Details
Year built
1910
Number of units
2
Building materials
Stucco, Brick
Roof type
Shingle
Listing Agency:
eXp Realty
(216) 242-2322
Listed By:
Andrew Maloney
(866) 212-4991
Added: Sep 21
Changed: Sep 26
Last Checked: Sep 27 at 12:06PM
MLS# 1894333
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 1,971-square-foot duplex contains two residences: one with 2 bedrooms and 1 bath, and another with 4 bedrooms and 2 baths. The upper-floor unit has fresh paint and new carpet. A major renovation completed less than 10 years ago included plumbing, electrical, and HVAC upgrades, which received city inspection and approval. Double-pane windows were installed throughout, and each unit has forced-air heating and air conditioning.
Built in 1910, the building has stucco and brick exterior materials, a shingle roof, and on-street parking. The 0.121-acre parcel is located at 2021 Burnet Avenue in Cincinnati.
Built in 1910, the building has stucco and brick exterior materials, a shingle roof, and on-street parking. The 0.121-acre parcel is located at 2021 Burnet Avenue in Cincinnati.
Key Highlights
- Two units: 2‑bedroom, 1‑bath and 4‑bedroom, 2‑bath layouts
- 1,971 square feet on a 0.121‑acre parcel
- Major renovation less than 10 years ago included plumbing, electrical, and HVAC
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
$16,514
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
5.90%
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%
$330,280
$330.3K
Cap Rate 7%
$235,914
$235.9K
Cap Rate 9%
$183,489
$183.5K
Market Conditions
NOI Build-Up for 1,971 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 $12.72/SF
− Vacancy
−$1.5K −$0.75/SF
EGI
$23.6K $11.97/SF
− OpEx
−$7.1K −$3.59/SF
NOI
$16.5K $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%
$330,280
Cap Rate 7%
$235,914
Cap Rate 9%
$183,489
Alternative Uses
Best Use
Multifamily LT 5
$235.9K
$206.4K – $275.2K
NOI $16,514 @ 7.0% cap · market cap 5.90%
Second Best
Apartment 5plus
$209.2K
$183.1K – $244.1K
NOI $14,644 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$391.8K
$342.8K – $457.1K
NOI $27,426 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,406
Businesses Nearby
Explore this area
Business Placement
Demographics for 45219, OH
20,644
Population
8,023
Households
2.6
Avg Household Size
25
Median Age
50%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
12,903
Density / Sq Mi
$35,936
Median Household Income
$12,462
Median Earnings
$1,166
Median Rent
$222,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - A 2-bedroom, 1-bath residence pairs with a larger 4-bedroom, 2-bath unit in this rental property.
Where is this duplex located?
The property is located at 2021 Burnet Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Two units: 2‑bedroom, 1‑bath and 4‑bedroom, 2‑bath layouts; 1,971 square feet on a 0.121‑acre parcel; Major renovation less than 10 years ago included plumbing, electrical, and HVAC
