Duplex with Vacant Lower
For Sale
$185,000
3422 Bassett Rd, Cincinnati, OH 45205
Two-level layout includes a leased upper unit and a first-floor residence with hardwood flooring and a backyard deck.
Property Size1,664 SF
Price / SF$111.18
Days on Market29
Property Features for 3422 Bassett Rd
General Information
Standard status
Active
Size
1,664 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1961
Buildings
1
Listing Agency:
Keller Williams Advisors
(513) 766-9200
Listed By:
Austin Long · License #2021002431
Source:
Cincylivingwithangela
Added: Aug 1
Changed: Aug 29
Last Checked: Aug 25 at 4:20AM
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 Keller Williams Advisors
Investment Insights
Based on property information with market context.
This 1,664 SF duplex, built in 1961, offers a two-level residential configuration with separate living spaces. The upper unit is leased at market rent, while the first-floor unit is vacant and includes hardwood flooring throughout along with access to a backyard deck.
Parking is available through the driveway, garage, and street. The property is approximately a 5-minute drive from downtown Cincinnati and is located at 3422 Bassett Rd in Cincinnati, Ohio 45205.
Parking is available through the driveway, garage, and street. The property is approximately a 5-minute drive from downtown Cincinnati and is located at 3422 Bassett Rd in Cincinnati, Ohio 45205.
Key Highlights
- 1,664 SF duplex built in 1961
- Upper unit leased at market rent
- Vacant first‑floor unit with hardwood floors throughout
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
$13,942
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
7.54%
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%
$278,840
$278.8K
Cap Rate 7%
$199,171
$199.2K
Cap Rate 9%
$154,911
$154.9K
Market Conditions
NOI Build-Up for 1,664 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
$21.2K $12.72/SF
− Vacancy
−$1.2K −$0.75/SF
EGI
$19.9K $11.97/SF
− OpEx
−$6.0K −$3.59/SF
NOI
$13.9K $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%
$278,840
Cap Rate 7%
$199,171
Cap Rate 9%
$154,911
Alternative Uses
Best Use
Multifamily LT 5
$199.2K
$174.3K – $232.4K
NOI $13,942 @ 7.0% cap · market cap 7.54%
Second Best
Apartment 5plus
$176.6K
$154.5K – $206.1K
NOI $12,363 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$330.8K
$289.4K – $385.9K
NOI $23,155 @ 7.0% cap · market cap 12.52%
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
232
Businesses Nearby
Explore this area
Business Placement
Demographics for 45205, OH
19,517
Population
7,874
Households
2.5
Avg Household Size
31
Median Age
17%
College-Educated
82%
High-School Grad
2.8 sq mi
ZIP Area
6,970
Density / Sq Mi
$41,357
Median Household Income
$32,537
Median Earnings
$855
Median Rent
$112,600
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 - Two-level layout includes a leased upper unit and a first-floor residence with hardwood flooring and a backyard deck.
Where is this duplex located?
The property is located at 3422 Bassett Rd Cincinnati, OH.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 1,664 SF duplex built in 1961; Upper unit leased at market rent; Vacant first‑floor unit with hardwood floors throughout
