Updated Occupied
For Sale
$265,000
2505 Flanigan Ct, Cincinnati, OH 45239
Two-family property with refreshed interiors and current occupancy in Cincinnati.
Property Size1,820 SF
Price / SF$145.60
Days on Market36
Property Features for 2505 Flanigan Ct
General Information
Standard status
Active
Size
1,820 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Multifamily Units
2
Listing Agency:
Imagine Real Estate
(513) 760-6005
Listed By:
Summer R Lattimore
(513) 760-6005
Source:
Exprealty
Added: Jul 25
Changed: Aug 29
Last Checked: Aug 29 at 7:14PM
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 Imagine Real Estate
Investment Insights
Based on property information with market context.
This 1,820-square-foot duplex contains two residential units and is currently fully occupied. Interior improvements include new laminate flooring, fresh paint, an updated kitchen backsplash, LED light switches, USB charging outlets, and new ceiling fans. The property is identified as a two-bedroom, one-bathroom offering in the available property information.
Located at 2505 Flanigan Ct in Cincinnati, the duplex sits within an established residential neighborhood. Its two-family configuration and completed interior updates provide a straightforward format for residential income ownership.
Located at 2505 Flanigan Ct in Cincinnati, the duplex sits within an established residential neighborhood. Its two-family configuration and completed interior updates provide a straightforward format for residential income ownership.
Key Highlights
- 1,820‑square‑foot duplex with two residential units
- Fully occupied two‑family property
- New laminate flooring and fresh interior paint
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
$15,249
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
5.75%
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%
$304,980
$305.0K
Cap Rate 7%
$217,843
$217.8K
Cap Rate 9%
$169,433
$169.4K
Market Conditions
NOI Build-Up for 1,820 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
$23.2K $12.72/SF
− Vacancy
−$1.4K −$0.75/SF
EGI
$21.8K $11.97/SF
− OpEx
−$6.5K −$3.59/SF
NOI
$15.2K $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%
$304,980
Cap Rate 7%
$217,843
Cap Rate 9%
$169,433
Alternative Uses
Best Use
Multifamily LT 5
$217.8K
$190.6K – $254.2K
NOI $15,249 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$193.2K
$169.0K – $225.4K
NOI $13,522 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$361.8K
$316.6K – $422.1K
NOI $25,325 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
463
Businesses Nearby
Explore this area
Business Placement
Demographics for 45239, OH
28,499
Population
12,985
Households
2.2
Avg Household Size
38
Median Age
26%
College-Educated
93%
High-School Grad
6.3 sq mi
ZIP Area
4,524
Density / Sq Mi
$58,276
Median Household Income
$37,094
Median Earnings
$949
Median Rent
$155,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family property with refreshed interiors and current occupancy in Cincinnati.
Where is this duplex located?
The property is located at 2505 Flanigan Ct Cincinnati, OH.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 1,820‑square‑foot duplex with two residential units; Fully occupied two‑family property; New laminate flooring and fresh interior paint
