Duplex with Spacious
For Sale
Contact for pricing
28 Juergens Avenue, Cincinnati, OH 45220
Two-unit residential property with on-site laundry, off-street parking, and a mix of vacant and tenant-occupied space.
Property Size2,611 SF
Price / SF$126.35
Days on Market197
Property Features for 28 Juergens Avenue
General Information
Standard status
Active
Size
2,611 SF
Total Parking Spaces
3
Property subtype
Multifamily
Units
Unit Mix
1 x 5BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
on-site laundry
spacious backyard
Building Details
Year Built
1914
Listing Agency:
eXp Realty
(866) 212-4991
Listed By:
Shelley Helton
Source:
Crexi
Added: Feb 16
Changed: Aug 30
Last Checked: Sep 1 at 4:12AM
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 eXp Realty
Investment Insights
Based on property information with market context.
Built in 1914, this duplex contains two separate residential units with notably generous family rooms, kitchen areas, and bedrooms. One unit offers five bedrooms and two full bathrooms and is vacant, while the other includes two bedrooms and one bathroom and is tenant occupied. On-site laundry, a backyard, and off-street parking for up to three vehicles add practical functionality for residents.
The property is located near the University of Cincinnati, Xavier University, major medical centers, downtown Cincinnati, and highway access. Its two-unit configuration accommodates traditional rental operations or living in one unit while leasing the other, as supported by the current occupancy and available unit.
The property is located near the University of Cincinnati, Xavier University, major medical centers, downtown Cincinnati, and highway access. Its two-unit configuration accommodates traditional rental operations or living in one unit while leasing the other, as supported by the current occupancy and available unit.
Key Highlights
- Two‑unit duplex with one vacant unit and one tenant‑occupied unit
- Vacant unit includes 5 bedrooms and 2 full bathrooms
- Tenant‑occupied unit has 2 bedrooms and 1 bathroom
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
$21,877
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
6.63%
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%
$437,540
$437.5K
Cap Rate 7%
$312,529
$312.5K
Cap Rate 9%
$243,078
$243.1K
Market Conditions
NOI Build-Up for 2,611 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
$33.2K $12.72/SF
− Vacancy
−$2.0K −$0.75/SF
EGI
$31.3K $11.97/SF
− OpEx
−$9.4K −$3.59/SF
NOI
$21.9K $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%
$437,540
Cap Rate 7%
$312,529
Cap Rate 9%
$243,078
Alternative Uses
Best Use
Multifamily LT 5
$312.5K
$273.5K – $364.6K
NOI $21,877 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$277.1K
$242.5K – $323.3K
NOI $19,399 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$519.0K
$454.2K – $605.5K
NOI $36,332 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
329
Businesses Nearby
Explore this area
Business Placement
Demographics for 45220, OH
15,466
Population
7,400
Households
2.1
Avg Household Size
28
Median Age
63%
College-Educated
96%
High-School Grad
2.9 sq mi
ZIP Area
5,333
Density / Sq Mi
$51,404
Median Household Income
$26,866
Median Earnings
$954
Median Rent
$385,200
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-unit residential property with on-site laundry, off-street parking, and a mix of vacant and tenant-occupied space.
Where is this duplex located?
The property is located at 28 Juergens Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Two‑unit duplex with one vacant unit and one tenant‑occupied unit; Vacant unit includes 5 bedrooms and 2 full bathrooms; Tenant‑occupied unit has 2 bedrooms and 1 bathroom
