Updated Duplex with
For Sale
$462,500
3333 S Sterling Way, Cincinnati, OH 45209
Residential Income, Cincinnati, OH
Property Size1,792 SF
Lot Size0.10 Acres
Price / SF$258.09
Days on Market73
Property Features for 3333 S Sterling Way
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street
Window features
Vinyl Frames
High school district
Cincinnati City SD
Directions
Erie Ave to Marburg Ave, Left onto S Sterling Way
Subdivision
Hamilton-E04
Standard status
Active
APN
039-0002-0299-00
Size
1,792 SF
Lot size
0.10 Acres
Utilities
Heating system
Natural Gas, Forced Air
Amenities
laundry access
Building Details
Year built
1941
Number of units
2
Building materials
Brick
Roof type
Shingle
Listing Agency:
eXp Realty
(216) 242-2322
Listed By:
Gayle Rothmeeler
(866) 212-4991
Added: Jun 18
Changed: Aug 29
Last Checked: Aug 29 at 7:06PM
MLS# 1883149
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 1,792-square-foot brick duplex was built in 1941 and includes two similarly configured residences, each with two bedrooms, one bathroom, a private garage, and access to shared laundry facilities. The property sits on 0.095 acres and also provides off-street parking. The upper unit is currently leased, while the lower unit includes a kitchen and bathroom remodeled in 2024.
Recent improvements include a roof and siding replacement completed in 2022, a new furnace installed in 2024, and multiple replacement windows. Located at 3333 S Sterling Way in Cincinnati’s Oakley area, the property is available as an owner-occupied opportunity with one unit currently unrented.
Recent improvements include a roof and siding replacement completed in 2022, a new furnace installed in 2024, and multiple replacement windows. Located at 3333 S Sterling Way in Cincinnati’s Oakley area, the property is available as an owner-occupied opportunity with one unit currently unrented.
Key Highlights
- Two‑unit duplex with 1,792 square feet on 0.095 acres
- Each residence has 2 bedrooms and 1 bathroom
- Private garage for each unit plus off‑street parking
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
3.25%
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 3.25%
Second Best
Apartment 5plus
$190.2K
$166.4K – $221.9K
NOI $13,314 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$356.2K
$311.7K – $415.6K
NOI $24,936 @ 7.0% cap · market cap 5.39%
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two matching units offer two bedrooms, one bathroom, shared laundry access, and off-street parking.
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 $462,500.
What are key features of this property?
This property features: Two‑unit duplex with 1,792 square feet on 0.095 acres; Each residence has 2 bedrooms and 1 bathroom; Private garage for each unit plus off‑street parking
