Two-Unit Duplex with
For Sale
$475,000
3333 S Sterling Way, Cincinnati, OH 45209
Both residences feature matching two-bedroom, one-bathroom layouts.
Property Size1,792 SF
Price / SF$265.07
Days on Market66
Property Features for 3333 S Sterling Way
General Information
Standard status
Active
Size
1,792 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
garage
laundry access
Listing Agency:
eXp Realty
(513) 258-7337
Listed By:
Gayle A Rothmeeler
(513) 258-7337
Source:
Exprealty
Added: Jun 18
Changed: Aug 21
Last Checked: Aug 21 at 11:30AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This duplex contains two residences with the same two-bedroom, one-bathroom floor plan. Each unit includes a garage, while laundry access is provided in a shared area. The lower residence received kitchen and bathroom renovations in 2024, and the property also has many newer windows. Roofing and exterior siding were replaced in 2022, with a new furnace added in 2024.
The property is located at 3333 S Sterling Way in Cincinnati’s Oakley area. Off-street parking is available. The upper unit is currently rented, while the lower unit is not rented and is associated with the owner-occupied setup described for the property.
The property is located at 3333 S Sterling Way in Cincinnati’s Oakley area. Off-street parking is available. The upper unit is currently rented, while the lower unit is not rented and is associated with the owner-occupied setup described for the property.
Key Highlights
- Duplex with 2 units, each offering 2 bedrooms and 1 bathroom
- Matching floor plans across both residences
- New roof and siding completed in 2022
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
$15,015
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
3.16%
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%
$300,300
$300.3K
Cap Rate 7%
$214,500
$214.5K
Cap Rate 9%
$166,833
$166.8K
Market Conditions
NOI Build-Up for 1,792 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
$22.8K $12.72/SF
− Vacancy
−$1.3K −$0.75/SF
EGI
$21.4K $11.97/SF
− OpEx
−$6.4K −$3.59/SF
NOI
$15.0K $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%
$300,300
Cap Rate 7%
$214,500
Cap Rate 9%
$166,833
Alternative Uses
Best Use
Multifamily LT 5
$214.5K
$187.7K – $250.3K
NOI $15,015 @ 7.0% cap · market cap 3.16%
Second Best
Apartment 5plus
$190.2K
$166.4K – $221.9K
NOI $13,314 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$356.2K
$311.7K – $415.6K
NOI $24,936 @ 7.0% cap · market cap 5.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
897
Businesses Nearby
Explore this area
Business Placement
Demographics for 45209, OH
10,708
Population
6,592
Households
1.6
Avg Household Size
32
Median Age
75%
College-Educated
96%
High-School Grad
2.3 sq mi
ZIP Area
4,656
Density / Sq Mi
$87,841
Median Household Income
$67,356
Median Earnings
$1,291
Median Rent
$386,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Both residences feature matching two-bedroom, one-bathroom layouts.
Where is this duplex located?
The property is located at 3333 S Sterling Way Cincinnati, OH.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Duplex with 2 units, each offering 2 bedrooms and 1 bathroom; Matching floor plans across both residences; New roof and siding completed in 2022
