Occupied Two-Unit Student Housing
New
For Sale
$314,900
312 Warner Street, Cincinnati, OH 45219
Fully leased duplex with a first-floor one-bedroom unit and a larger four-bedroom residence.
Property Size1,964 SF
Days on Market5
Property Features for 312 Warner Street
General Information
Standard status
Active
Size
1,964 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 1BR/1BA, 1 x 4BR/2BA
Multifamily Units
2
Building Details
Building Size
1,964 SF
Year Built
1910
Buildings
1
Listing Agency:
RE/MAX Preferred Group
Listed By:
Bradley Babiak · License #2021002473
(513) 289-6545
Source:
Trulyremarkableservice.kw
Added: Sep 19
Changed: Sep 22
Last Checked: Sep 22 at 1:05PM
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 RE/MAX Preferred Group
Investment Insights
Based on property information with market context.
Built in 1910, this two-unit duplex includes a first-floor one-bedroom, one-bath residence with an updated kitchen and a separate four-bedroom, two-bath unit. The property is fully occupied under leases extending through July 2027, providing an established rental arrangement for both units. Off-street parking accommodates 3 vehicles.
The property is located at 312 Warner Street in Cincinnati’s Clifton area, near the University of Cincinnati. Its unit configuration and proximity to campus align with the student-housing use identified for the property, while the combination of smaller and larger floor plans supports distinct residential needs within one building.
The property is located at 312 Warner Street in Cincinnati’s Clifton area, near the University of Cincinnati. Its unit configuration and proximity to campus align with the student-housing use identified for the property, while the combination of smaller and larger floor plans supports distinct residential needs within one building.
Key Highlights
- Two‑unit duplex near the University of Cincinnati
- Leased through July 2027 with both units occupied
- Unit 1: 1‑bedroom, 1‑bath layout with updated kitchen
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
$16,456
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
5.23%
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%
$329,120
$329.1K
Cap Rate 7%
$235,086
$235.1K
Cap Rate 9%
$182,844
$182.8K
Market Conditions
NOI Build-Up for 1,964 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
$25.0K $12.72/SF
− Vacancy
−$1.5K −$0.75/SF
EGI
$23.5K $11.97/SF
− OpEx
−$7.1K −$3.59/SF
NOI
$16.5K $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%
$329,120
Cap Rate 7%
$235,086
Cap Rate 9%
$182,844
Alternative Uses
Best Use
Multifamily LT 5
$235.1K
$205.7K – $274.3K
NOI $16,456 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$208.5K
$182.4K – $243.2K
NOI $14,592 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$390.4K
$341.6K – $455.5K
NOI $27,329 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,264
Businesses Nearby
Explore this area
Business Placement
Demographics for 45219, OH
20,644
Population
8,023
Households
2.6
Avg Household Size
25
Median Age
50%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
12,903
Density / Sq Mi
$35,936
Median Household Income
$12,462
Median Earnings
$1,166
Median Rent
$222,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Fully leased duplex with a first-floor one-bedroom unit and a larger four-bedroom residence.
Where is this duplex located?
The property is located at 312 Warner Street Cincinnati, OH.
What is the asking price?
The asking price for this property is $314,900.
What are key features of this property?
This property features: Two‑unit duplex near the University of Cincinnati; Leased through July 2027 with both units occupied; Unit 1: 1‑bedroom, 1‑bath layout with updated kitchen
