Duplex With Walkout
New
For Sale
$439,900
231 W Collins Street, Oxford, OH 45056
MULTI_FAMILY - Oxford, OH
Property Size2,100 SF
Lot Size0.20 Acres
Price / SF$209.48
Days on Market4
Property Features for 231 W Collins Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street, On 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
Forced Air, Natural Gas
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
Last Checked: Aug 9 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, built in 1965, contains two distinct residences: a 4 BR, 1 BA upper-level unit and a 1 BR, 1 BA lower-level unit. The larger residence includes hardwood floors, a stone fireplace, and a walkout basement. The lower-level apartment 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 are included.
Located at 231 W Collins Street in Oxford, the property is two blocks from Uptown and near Miami University, Lane Library, restaurants, shopping, and the Oxford Community Arts Center. Miami University serves around 20,000 students, placing the duplex within a university-oriented residential setting.
Located at 231 W Collins Street in Oxford, the property is two blocks from Uptown and near Miami University, Lane Library, restaurants, shopping, and the Oxford Community Arts Center. Miami University serves around 20,000 students, placing the duplex within a university-oriented residential setting.
Key Highlights
- Two‑unit duplex at 231 W Collins Street, Oxford, OH 45056
- 2,100 square feet on a 0.2‑acre lot
- 4 BR, 1 BA unit paired with a 1 BR, 1 BA 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
4.66%
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 4.66%
Second Best
Apartment 5plus
$269.2K
$235.6K – $314.1K
NOI $18,846 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$415.2K
$363.3K – $484.4K
NOI $29,065 @ 7.0% cap · market cap 6.61%
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
1,049
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
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 - Brick property offers separate layouts, remodeled lower-level finishes, and access to on- and off-street parking.
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 $439,900.
What are key features of this property?
This property features: Two‑unit duplex at 231 W Collins Street, Oxford, OH 45056; 2,100 square feet on a 0.2‑acre lot; 4 BR, 1 BA unit paired with a 1 BR, 1 BA unit
