Two-Unit Duplex with
For Sale
$189,900
3218 Illinois Ave, Middletown, OH 45042
Two residential units offer laundry hookups, off-street parking, and tenant-paid gas and electric.
Property Size1,664 SF
Price / SF$114.12
Days on Market53
Property Features for 3218 Illinois Ave
General Information
Standard status
Active
Size
1,664 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
washer and dryer hook up
off street parking
Building Details
Year Built
1972
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 12:52PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1972, this 1,664-square-foot duplex at 3218 Illinois Ave in Middletown, OH, contains two residential units. Each unit is configured with 2 bedrooms and 1 bathroom, providing a consistent layout across the building. Washer and dryer hookups are included, and off-street parking serves the property.
Unit 3218 A is vacant, while Unit 3218 B has an existing tenant arrangement. Tenants are responsible for gas and electric service. The duplex may also be bundled with two additional properties identified by MLS numbers 968628 and 968634.
Unit 3218 A is vacant, while Unit 3218 B has an existing tenant arrangement. Tenants are responsible for gas and electric service. The duplex may also be bundled with two additional properties identified by MLS numbers 968628 and 968634.
Key Highlights
- 1,664‑square‑foot duplex in Middletown, OH
- Built in 1972
- Each unit has 2 bedrooms and 1 bathroom
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
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
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
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer laundry hookups, off-street parking, and tenant-paid gas and electric.
Where is this duplex located?
The property is located at 3218 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‑square‑foot duplex in Middletown, OH; Built in 1972; Each unit has 2 bedrooms and 1 bathroom
