Brick Duplex with Walkout
For Sale
$429,900
231 W Collins Street, Oxford, OH 45056
Residential Income, Oxford, OH
Property Size2,100 SF
Lot Size0.20 Acres
Price / SF$204.71
Days on Market51
Property Features for 231 W Collins Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street, Off Street
Fireplace
1
View
City
High school district
Talawanda City SD
Directions
From High Street, South on College, West on Collins; House on Left
Subdivision
Butler-W18
Standard status
Active
APN
H4100-004-000-054
Size
2,100 SF
Lot size
0.20 Acres
Utilities
Heating system
Natural Gas, Forced Air
Building Details
Year built
1965
Number of units
2
Building materials
Brick
Roof type
Shingle
Listing Agency:
RE/MAX Alpha Real Estate · RE/MAX International
(513) 523-6358
Listed By:
Brian Revalee · License #RB15000186
(513) 988-7253
Added: Aug 6
Changed: Sep 12
Last Checked: Sep 25 at 11:06AM
MLS# 1889644
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 2,100-square-foot brick duplex contains two residential units: a 4 BR, 1 BA residence and a 1 BR, 1 BA lower-level unit. The larger unit includes hardwood floors, a stone fireplace, and a walkout basement. The smaller residence has been recently remodeled with LVT flooring, new windows, and an open-concept layout. Natural gas forced-air heat, a shingle roof, and both on-street and off-street parking support the property’s existing configuration.
Located at 231 W Collins Street in Oxford, the property is two blocks from Uptown and a few blocks from Miami University. The surrounding area also includes the Oxford Community Arts Center, Lane Library, restaurants, and shopping. Built in 1965, the property combines a two-unit layout with proximity to the university and established Oxford amenities.
Located at 231 W Collins Street in Oxford, the property is two blocks from Uptown and a few blocks from Miami University. The surrounding area also includes the Oxford Community Arts Center, Lane Library, restaurants, and shopping. Built in 1965, the property combines a two-unit layout with proximity to the university and established Oxford amenities.
Key Highlights
- Two‑unit layout with a 4 BR, 1 BA unit and a 1 BR, 1 BA unit
- 2,100 square feet on a 0.2‑acre lot
- Brick construction with a walkout basement serving the Collins unit
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
$20,480
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
4.76%
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%
$409,600
$409.6K
Cap Rate 7%
$292,571
$292.6K
Cap Rate 9%
$227,556
$227.6K
Market Conditions
NOI Build-Up for 2,100 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
$31.5K $15.00/SF
− Vacancy
−$2.2K −$1.07/SF
EGI
$29.3K $13.93/SF
− OpEx
−$8.8K −$4.18/SF
NOI
$20.5K $9.75/SF
Area
Butler County, OH
Vacancy
7.12%
Lease Rate
$15.00 /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%
$409,600
Cap Rate 7%
$292,571
Cap Rate 9%
$227,556
Alternative Uses
Best Use
Multifamily LT 5
$292.6K
$256.0K – $341.3K
NOI $20,480 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$269.2K
$235.6K – $314.1K
NOI $18,846 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$415.2K
$363.3K – $484.4K
NOI $29,065 @ 7.0% cap · market cap 6.76%
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
1,043
Businesses Nearby
Explore this area
Business Placement
Demographics for 45056, OH
28,892
Population
9,702
Households
3
Avg Household Size
25
Median Age
54%
College-Educated
97%
High-School Grad
74.7 sq mi
ZIP Area
387
Density / Sq Mi
$53,413
Median Household Income
$9,944
Median Earnings
$1,004
Median Rent
$247,700
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 - Separate four-bedroom and one-bedroom units offer remodeled finishes, hardwood flooring, and access to a walkout basement.
Where is this duplex located?
The property is located at 231 W Collins Street Oxford, OH.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Two‑unit layout with a 4 BR, 1 BA unit and a 1 BR, 1 BA unit; 2,100 square feet on a 0.2‑acre lot; Brick construction with a walkout basement serving the Collins unit
