Four-Level Duplex
For Sale
$275,000
2222 Eureka Terrace, Cincinnati, OH 45219
Historic duplex-zoned property with garage parking, separate electric service, and proximity to UC and Bellevue Park.
Property Size1,914 SF
Price / SF$143.68
Days on Market22
Property Features for 2222 Eureka Terrace
General Information
Standard status
Active
Size
1,914 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
fireplaces are inoperable
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Stories
4
Listing Agency:
Comey & Shepherd
(513) 310-1270
Listed By:
Robert Nyswonger
Source:
Missyfriede
Added: Aug 8
Changed: Aug 28
Last Checked: Aug 29 at 11:34AM
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 Comey & Shepherd
Investment Insights
Based on property information with market context.
Built in 1900, this 1,914-square-foot property extends across four levels and is zoned for duplex use. It has operated as a single-family residence for many years, offering a distinctive configuration within a historic structure. Original construction details and fireplaces contribute to the building’s character; the fireplaces are currently inoperable.
The property includes a garage and driveway parking. Electrical service is separately metered, while the owner pays the heat expense. Its location is described as walkable to UC and a short walk from Bellevue Park. An alarm is present, with showing instructions provided separately.
The property includes a garage and driveway parking. Electrical service is separately metered, while the owner pays the heat expense. Its location is described as walkable to UC and a short walk from Bellevue Park. An alarm is present, with showing instructions provided separately.
Key Highlights
- 1,914‑square‑foot property built in 1900
- Four‑level layout with duplex zoning
- Used as a single‑family residence for many years
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
$16,037
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
5.83%
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%
$320,740
$320.7K
Cap Rate 7%
$229,100
$229.1K
Cap Rate 9%
$178,189
$178.2K
Market Conditions
NOI Build-Up for 1,914 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
$24.3K $12.72/SF
− Vacancy
−$1.4K −$0.75/SF
EGI
$22.9K $11.97/SF
− OpEx
−$6.9K −$3.59/SF
NOI
$16.0K $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%
$320,740
Cap Rate 7%
$229,100
Cap Rate 9%
$178,189
Alternative Uses
Best Use
Multifamily LT 5
$229.1K
$200.5K – $267.3K
NOI $16,037 @ 7.0% cap · market cap 5.83%
Second Best
Apartment 5plus
$203.2K
$177.8K – $237.0K
NOI $14,221 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$380.5K
$332.9K – $443.9K
NOI $26,633 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,634
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
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 - Historic duplex-zoned property with garage parking, separate electric service, and proximity to UC and Bellevue Park.
Where is this duplex located?
The property is located at 2222 Eureka Terrace Cincinnati, OH.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,914‑square‑foot property built in 1900; Four‑level layout with duplex zoning; Used as a single‑family residence for many years
