Two-Unit Duplex with
For Sale
$299,000
2704 Minot Avenue, Cincinnati, OH 45209
Leased through January 2027, with refreshed bathrooms, updated water heaters, and residential features suited to long-term occupancy.
Property Size1,520 SF
Price / SF$196.71
Days on Market23
Property Features for 2704 Minot Avenue
General Information
Standard status
Active
Size
1,520 SF
Property subtype
Multi-Family
Building Details
Year Built
1927
Listing Agency:
Brk. (513-787-7175), Re/Max Local Experts
(937) 444-9007
Listed By:
Tami Holmes
(937) 506-8360
Source:
Tami-holmes
Added: Aug 17
Changed: Sep 8
Last Checked: Sep 8 at 9:15AM
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 Brk. (513-787-7175), Re/Max Local Experts
Investment Insights
Based on property information with market context.
This two-unit duplex offers 1,520 square feet of residential space with two full updated bathrooms, spacious kitchens, and basement storage areas. Hardwood floors, a fireplace, front porch, and upstairs deck add character, while updated water heaters and new garage doors provide practical improvements. A two-car garage and washer/dryer are included with the property.
The property is located near Rookwood Commons and Oakley Square in Cincinnati. Both units are leased through 1/31/27. Showing requests require 24-hour notice, and both units are available to be shown.
The property is located near Rookwood Commons and Oakley Square in Cincinnati. Both units are leased through 1/31/27. Showing requests require 24-hour notice, and both units are available to be shown.
Key Highlights
- Two‑unit duplex totaling 1520 sq Ft
- Leased through 1/31/27
- Two full updated bathrooms
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
$12,736
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
4.26%
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%
$254,720
$254.7K
Cap Rate 7%
$181,943
$181.9K
Cap Rate 9%
$141,511
$141.5K
Market Conditions
NOI Build-Up for 1,520 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
$19.3K $12.72/SF
− Vacancy
−$1.1K −$0.75/SF
EGI
$18.2K $11.97/SF
− OpEx
−$5.5K −$3.59/SF
NOI
$12.7K $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%
$254,720
Cap Rate 7%
$181,943
Cap Rate 9%
$141,511
Alternative Uses
Best Use
Multifamily LT 5
$181.9K
$159.2K – $212.3K
NOI $12,736 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$161.3K
$141.2K – $188.2K
NOI $11,293 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$302.2K
$264.4K – $352.5K
NOI $21,151 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,418
Businesses Nearby
Explore this area
Business Placement
Demographics for 45209, OH
10,708
Population
6,592
Households
1.6
Avg Household Size
32
Median Age
75%
College-Educated
96%
High-School Grad
2.3 sq mi
ZIP Area
4,656
Density / Sq Mi
$87,841
Median Household Income
$67,356
Median Earnings
$1,291
Median Rent
$386,600
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 - Leased through January 2027, with refreshed bathrooms, updated water heaters, and residential features suited to long-term occupancy.
Where is this duplex located?
The property is located at 2704 Minot Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1520 sq Ft; Leased through 1/31/27; Two full updated bathrooms
