Historic Two-Unit
For Sale
$140,000
38 E Clifton Avenue, Cincinnati, OH 45202
Italianate property with permitted renovation work and plans available for a two-unit configuration.
Property Size1,230 SF
Price / SF$113.82
Days on Market32
Property Features for 38 E Clifton Avenue
General Information
Standard status
Active
Size
1,230 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/2BA
Multifamily Units
2
Building Details
Year Built
1869
Stories
3
Construction
Italianate
Listing Agency:
Sue Boone Realty, Inc., Hillsb (937-393-0070)
Listed By:
Tami Holmes · License #2005015284
(937) 506-8360
Source:
Tami-holmes
Added: Sep 5
Changed: Oct 4
Last Checked: Oct 5 at 6:56PM
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 Sue Boone Realty, Inc., Hillsb (937-393-0070)
Investment Insights
Based on property information with market context.
This 1869 Italianate duplex is located in Cincinnati’s historic district and is configured for two residential units. The planned layout includes a one-bedroom, one-bath residence on the first floor and a two-bedroom, two-bath residence spanning the second and third levels.
Framing and electrical wiring have been completed and are ready for inspection. The renovation work has been permitted, and architectural plans are available for review. The property is situated at 38 E Clifton Avenue in Cincinnati’s Over-the-Rhine area, with the structure’s historic character preserved as part of the existing improvement.
Framing and electrical wiring have been completed and are ready for inspection. The renovation work has been permitted, and architectural plans are available for review. The property is situated at 38 E Clifton Avenue in Cincinnati’s Over-the-Rhine area, with the structure’s historic character preserved as part of the existing improvement.
Key Highlights
- Historic 1869 Italianate structure in a designated historic district
- Configured for 2 units with a 1‑bed/1‑bath and 2‑bed/2‑bath layout
- Framing and electrical wiring are complete and ready for inspection
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,306
Cap Rate
7.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$206,120
$206.1K
Cap Rate 7%
$147,229
$147.2K
Cap Rate 9%
$114,511
$114.5K
Market Conditions
NOI Build-Up for 1,230 SF
Gross rent
$15.6K $12.72/SF
− Vacancy
−$923 −$0.75/SF
EGI
$14.7K $11.97/SF
− OpEx
−$4.4K −$3.59/SF
NOI
$10.3K $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 Rate 5%
$206,120
Cap Rate 7%
$147,229
Cap Rate 9%
$114,511
Alternative Uses
Best Use
Multifamily LT 5
$147.2K
$128.8K – $171.8K
NOI $10,306 @ 7.0% cap · market cap 7.36%
Second Best
Apartment 5plus
$130.6K
$114.2K – $152.3K
NOI $9,139 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$244.5K
$213.9K – $285.3K
NOI $17,115 @ 7.0% cap · market cap 12.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,388
Businesses Nearby
Explore this area
Business Placement
Demographics for 45202, OH
16,883
Population
11,432
Households
1.5
Avg Household Size
34
Median Age
63%
College-Educated
91%
High-School Grad
2.7 sq mi
ZIP Area
6,253
Density / Sq Mi
$87,930
Median Household Income
$63,901
Median Earnings
$1,524
Median Rent
$444,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Italianate property with permitted renovation work and plans available for a two-unit configuration.
Where is this duplex located?
The property is located at 38 E Clifton Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: Historic 1869 Italianate structure in a designated historic district; Configured for 2 units with a 1‑bed/1‑bath and 2‑bed/2‑bath layout; Framing and electrical wiring are complete and ready for inspection
