Two-Unit Brick
New
For Sale
$314,900
312 Warner Street, Cincinnati, OH 45219
Residential Income, Cincinnati, OH
Property Size1,964 SF
Lot Size0.08 Acres
Price / SF$160.34
Days on Market5
Property Features for 312 Warner Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street, Garage
Window features
Vinyl Frames
High school district
Cincinnati City SD
Directions
.
Subdivision
Hamilton-E01
Standard status
Active
APN
1000001009900
Size
1,964 SF
Lot size
0.08 Acres
Utilities
Heating system
Forced Air, Natural Gas
Building Details
Year built
1910
Number of units
2
Building materials
Brick
Roof type
Slate
Listing Agency:
RE/MAX Preferred Group · RE/MAX International
(513) 229-7774
Listed By:
Bradley Babiak · License #2021002473
(513) 533-4111
Added: Sep 19
Changed: Sep 21
Last Checked: Sep 23 at 3:06PM
MLS# 1891141
Copyright © 2026 MLS of Greater Cincinnati, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,964-square-foot duplex in Cincinnati’s Clifton area contains two separate residences. The first-floor unit offers 1 bedroom and 1 bath with an updated kitchen, while the second unit includes 4 bedrooms and 2 baths. The property was built in 1910 with brick construction and a slate roof.
Parking includes space for 3 vehicles off street, along with garage and on-street parking features. Forced-air heating powered by natural gas serves the property. The address is near the University of Cincinnati, placing the duplex within the Clifton area and its surrounding campus environment.
Parking includes space for 3 vehicles off street, along with garage and on-street parking features. Forced-air heating powered by natural gas serves the property. The address is near the University of Cincinnati, placing the duplex within the Clifton area and its surrounding campus environment.
Key Highlights
- Two‑unit duplex totaling 1,964 square feet
- Unit 1: 1 bedroom, 1 bath, first‑floor location, and updated kitchen
- Unit 2: 4 bedrooms and 2 baths
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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Current Use
Lease Details
2
Residential units
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
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Clifton duplex with distinct one-bedroom and four-bedroom units, off-street parking, and an updated first-floor kitchen.
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 totaling 1,964 square feet; Unit 1: 1 bedroom, 1 bath, first‑floor location, and updated kitchen; Unit 2: 4 bedrooms and 2 baths
