Two-Unit Duplex with
For Sale
$189,900
3214 Illinois Ave, Middletown, OH 45042
Two residential units offer laundry hookups, off-street parking, and separate utility responsibility.
Property Size1,664 SF
Price / SF$114.12
Days on Market53
Property Features for 3214 Illinois Ave
General Information
Standard status
Active
Size
1,664 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
washer and dryer hook up
Building Details
Year Built
1973
Buildings
1
Listing Agency:
Plum Tree Realty
(937) 838-0400
Listed By:
Streetlight Realty
(937) 626-4181
Source:
Streetlightrealtors
Added: Sep 13
Changed: Nov 3
Last Checked: Nov 4 at 1:37PM
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 Plum Tree Realty
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Investment Insights
Based on property information with market context.
This 1,664-square-foot duplex, built in 1973, contains two residential units, each configured with 2 bedrooms and 1 bath. Both units include washer and dryer hookups, while off-street parking serves the property. One unit is vacant, and the other is occupied. Gas, electric, and water are paid by the tenants.
The property is located at 3214 Illinois Ave in Middletown, OH 45042. Its two-unit layout provides a straightforward residential income configuration with one unit currently available for occupancy.
The property is located at 3214 Illinois Ave in Middletown, OH 45042. Its two-unit layout provides a straightforward residential income configuration with one unit currently available for occupancy.
Key Highlights
- 1,664 SF duplex built in 1973
- Two units, each with 2 bedrooms and 1 bath
- One unit is vacant; the second unit is occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,228
Cap Rate
8.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$324,560
$324.6K
Cap Rate 7%
$231,829
$231.8K
Cap Rate 9%
$180,311
$180.3K
Market Conditions
NOI Build-Up for 1,664 SF
Gross rent
$25.0K $15.00/SF
− Vacancy
−$1.8K −$1.07/SF
EGI
$23.2K $13.93/SF
− OpEx
−$7.0K −$4.18/SF
NOI
$16.2K $9.75/SF
Area
Butler County, OH
Vacancy
7.12%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$324,560
Cap Rate 7%
$231,829
Cap Rate 9%
$180,311
Alternative Uses
Best Use
Multifamily LT 5
$231.8K
$202.9K – $270.5K
NOI $16,228 @ 7.0% cap · market cap 8.55%
Second Best
Apartment 5plus
$213.3K
$186.7K – $248.9K
NOI $14,933 @ 7.0% cap · market cap 7.86%
Theoretical Best
Office A
$329.0K
$287.9K – $383.8K
NOI $23,030 @ 7.0% cap · market cap 12.13%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
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Business Placement
Demographics for 45042, OH
26,972
Population
12,324
Households
2.2
Avg Household Size
42
Median Age
20%
College-Educated
91%
High-School Grad
49.2 sq mi
ZIP Area
548
Density / Sq Mi
$66,732
Median Household Income
$41,800
Median Earnings
$950
Median Rent
$192,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer laundry hookups, off-street parking, and separate utility responsibility.
Where is this duplex located?
The property is located at 3214 Illinois Ave Middletown, OH.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: 1,664 SF duplex built in 1973; Two units, each with 2 bedrooms and 1 bath; One unit is vacant; the second unit is occupied
