Updated Duplex with Basement
For Sale
$425,000
2874 Wasson Rd, Cincinnati, OH 45209
Two one-bedroom units offer 2025 kitchen and bathroom improvements, hardwood flooring, and basement utility hookups.
Property Size1,520 SF
Price / SF$279.61
Days on Market8
Property Features for 2874 Wasson Rd
General Information
Standard status
Active
Size
1,520 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
hardwood floors
off street parking
basement storage
wash and dryer hook ups
Building Details
Year Built
1915
Listing Agency:
eXp Realty
(866) 212-4991
Listed By:
Douglas Pfingstag
Source:
Missyfriede
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 29 at 4:18PM
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.
This 1,520 SF duplex, built in 1915, includes two one-bedroom, one-bath units. Hardwood flooring runs through both residences, while each kitchen and bathroom received updates in 2025. Interior and exterior painting was also completed that year. Basement storage, washer and dryer hookups, and off-street parking add practical support space for the property.
Located at 2874 Wasson Rd in Cincinnati’s Oakley area, the duplex is near I-71, the lateral, Rookwood Commons, Kroger, Hyde Park, and Oakley Square. Both units are currently leased, providing an operating income component for the next owner.
Located at 2874 Wasson Rd in Cincinnati’s Oakley area, the duplex is near I-71, the lateral, Rookwood Commons, Kroger, Hyde Park, and Oakley Square. Both units are currently leased, providing an operating income component for the next owner.
Key Highlights
- 1,520 SF duplex with two 1 bed/1 bath units
- Built in 1915; both units updated in 2025
- 2025 kitchen and bathroom improvements in each 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
$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
3.00%
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 3.00%
Second Best
Apartment 5plus
$161.3K
$141.2K – $188.2K
NOI $11,293 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$302.2K
$264.4K – $352.5K
NOI $21,151 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,163
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two one-bedroom units offer 2025 kitchen and bathroom improvements, hardwood flooring, and basement utility hookups.
Where is this duplex located?
The property is located at 2874 Wasson Rd Cincinnati, OH.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 1,520 SF duplex with two 1 bed/1 bath units; Built in 1915; both units updated in 2025; 2025 kitchen and bathroom improvements in each unit
