Duplex with Separate-Utility
For Sale
$215,000
305 Walnut St, Elmwood Place, OH 45216
Two residences offer updated kitchens, laundry hookups, and separate front and rear access.
Property Size2,208 SF
Price / SF$97.37
Days on Market64
Property Features for 305 Walnut St
General Information
Standard status
Active
Size
2,208 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Amenities
washer/dryer hookups
Building Details
Year Built
1890
Buildings
2
Listing Agency:
Realty First
Listed By:
Anne V Mills
(513) 737-6600
Source:
Missyfriede
Added: Aug 14
Changed: Oct 3
Last Checked: Oct 7 at 4:37PM
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 Realty First
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Investment Insights
Based on property information with market context.
This two-unit duplex contains 2,208 square feet and was built in 1890. The lower residence includes two bedrooms, one full bathroom, and front and rear entries. A three-bedroom, one-bath upper residence occupies the second and third floors. Both units include washer/dryer hookups, updated kitchens, and are currently vacant. New carpet has been installed in the second-floor unit.
An outbuilding with its own utilities, kitchen, and bathroom provides additional space that can be converted into an efficiency apartment after remodeling. The house roof is 4 years old. Heating is provided by a 5-year-old furnace serving the lower unit and an 8-year-old furnace serving the upper unit. Tenants pay all utilities except water. The property is located at 305 Walnut St in Elmwood Place, with access to 75, Reagan Hwy, and the Norwood Lateral.
An outbuilding with its own utilities, kitchen, and bathroom provides additional space that can be converted into an efficiency apartment after remodeling. The house roof is 4 years old. Heating is provided by a 5-year-old furnace serving the lower unit and an 8-year-old furnace serving the upper unit. Tenants pay all utilities except water. The property is located at 305 Walnut St in Elmwood Place, with access to 75, Reagan Hwy, and the Norwood Lateral.
Key Highlights
- 2,208‑square‑foot duplex built in 1890
- Lower unit: 2 bedrooms, 1 full bath, front and rear entrances
- Upper unit spans the second and third floors with 3 bedrooms and 1 full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,061
Cap Rate
8.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$381,220
$381.2K
Cap Rate 7%
$272,300
$272.3K
Cap Rate 9%
$211,789
$211.8K
Market Conditions
NOI Build-Up for 2,208 SF
Gross rent
$36.8K $16.68/SF
− Vacancy
−$2.2K −$0.98/SF
EGI
$34.7K $15.70/SF
− OpEx
−$15.6K −$7.06/SF
NOI
$19.1K $8.63/SF
Area
Hamilton County, OH
Vacancy
5.90%
Lease Rate
$16.68 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$381,220
Cap Rate 7%
$272,300
Cap Rate 9%
$211,789
Alternative Uses
Best Use
Multifamily LT 5
$297.6K
$260.4K – $347.2K
NOI $20,833 @ 7.0% cap · market cap 9.69%
Second Best
Apartment 5plus
$272.3K
$238.3K – $317.7K
NOI $19,061 @ 7.0% cap · market cap 8.87%
Theoretical Best
Office A
$395.9K
$346.4K – $461.8K
NOI $27,710 @ 7.0% cap · market cap 12.89%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
390
Businesses Nearby
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Business Placement
Demographics for 45216, OH
9,667
Population
4,262
Households
2.3
Avg Household Size
37
Median Age
27%
College-Educated
87%
High-School Grad
2.8 sq mi
ZIP Area
3,453
Density / Sq Mi
$51,602
Median Household Income
$40,333
Median Earnings
$815
Median Rent
$138,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer updated kitchens, laundry hookups, and separate front and rear access.
Where is this duplex located?
The property is located at 305 Walnut St Elmwood Place, OH.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: 2,208‑square‑foot duplex built in 1890; Lower unit: 2 bedrooms, 1 full bath, front and rear entrances; Upper unit spans the second and third floors with 3 bedrooms and 1 full bath
