Updated Duplex with Hardwood
For Sale
$425,000
3020 Hackberry St, Cincinnati, OH 45206
Two residential units include refreshed kitchens, baths, appliances, plumbing, HVAC, and painted interiors.
Property Size2,630 SF
Price / SF$161.60
Days on Market19
Property Features for 3020 Hackberry St
General Information
Standard status
Active
Size
2,630 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Building Details
Buildings
1
Listing Agency:
Comey & Shepherd
(513) 504-9135
Listed By:
Robbie Dorger
(513) 504-9135
Source:
Exprealty
Added: Aug 11
Changed: Aug 27
Last Checked: Aug 29 at 11:21AM
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 Comey & Shepherd
Investment Insights
Based on property information with market context.
This duplex at 3020 Hackberry St in Cincinnati contains two residential units within 2,630 square feet. Both units have updated kitchens and bathrooms, restored hardwood flooring, newer appliances, refreshed plumbing, HVAC improvements, and fresh paint. The configuration supports separate residential living spaces within one property.
The property is located in East Walnut Hills, a few blocks from Woodburn Avenue and the DeSales Corner business district. These nearby commercial areas provide neighborhood context and convenient access to local destinations. The combination of two units and recent improvements creates a straightforward multifamily asset for an owner-occupant or rental operator.
The property is located in East Walnut Hills, a few blocks from Woodburn Avenue and the DeSales Corner business district. These nearby commercial areas provide neighborhood context and convenient access to local destinations. The combination of two units and recent improvements creates a straightforward multifamily asset for an owner-occupant or rental operator.
Key Highlights
- Duplex with two residential units
- 2,630 square feet of total property size
- Updated kitchens and bathrooms 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
$22,036
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
5.18%
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%
$440,720
$440.7K
Cap Rate 7%
$314,800
$314.8K
Cap Rate 9%
$244,844
$244.8K
Market Conditions
NOI Build-Up for 2,630 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
$33.5K $12.72/SF
− Vacancy
−$2.0K −$0.75/SF
EGI
$31.5K $11.97/SF
− OpEx
−$9.4K −$3.59/SF
NOI
$22.0K $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%
$440,720
Cap Rate 7%
$314,800
Cap Rate 9%
$244,844
Alternative Uses
Best Use
Multifamily LT 5
$314.8K
$275.5K – $367.3K
NOI $22,036 @ 7.0% cap · market cap 5.18%
Second Best
Apartment 5plus
$279.2K
$244.3K – $325.7K
NOI $19,541 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$522.8K
$457.5K – $609.9K
NOI $36,596 @ 7.0% cap · market cap 8.61%
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
887
Businesses Nearby
Explore this area
Business Placement
Demographics for 45206, OH
10,670
Population
7,191
Households
1.5
Avg Household Size
37
Median Age
49%
College-Educated
87%
High-School Grad
2.0 sq mi
ZIP Area
5,335
Density / Sq Mi
$51,128
Median Household Income
$44,936
Median Earnings
$849
Median Rent
$269,900
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 residential units include refreshed kitchens, baths, appliances, plumbing, HVAC, and painted interiors.
Where is this duplex located?
The property is located at 3020 Hackberry St 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: Duplex with two residential units; 2,630 square feet of total property size; Updated kitchens and bathrooms in each unit
