Historic Italianate
402 Milton Street, Cincinnati, OH 45202
For Sale
New
$409,000
Two independent apartments combine period architectural details with updated baths and kitchens.
Property Size1,868 SF
Days on Market4
Property Features for 402 Milton Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Amenities
covered two-level rear porches
private walled courtyard garden
basement laundry
insulated windows
Building Details
Building Size
Year Built
Buildings
Construction
Listing Agency:
Coldwell Banker Realty
Listed By:
M. Doug Spitz · License OH SAL.2007004784
(513) 616-3798
Source:
Mattbryant.kw
Added: Nov 10
Changed: Nov 12
Last Checked: Nov 12 at 2:30PM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
Built in 1880, this brick Italianate duplex contains one one-bedroom apartment and one two-bedroom apartment, each with a separate entrance, kitchen, and bathroom. Interior features include hardwood floors, tall wood-trimmed windows, pocket doors, a turned-baluster staircase, and carved mantels with tile and cast-iron details. The kitchens have gas ranges and stainless appliances; the baths include a walk-in shower and a refreshed tub bath.
Two-level covered rear porches overlook a walled courtyard garden with brick pavers and stone steps. Basement laundry, separate water heaters, radiator heat, and insulated windows serve the property. The address is in Cincinnati’s Mount Auburn area, near OTR, downtown, the University of Cincinnati, Findlay Market, Washington Park, and bus service. Occupancy is negotiable.
Two-level covered rear porches overlook a walled courtyard garden with brick pavers and stone steps. Basement laundry, separate water heaters, radiator heat, and insulated windows serve the property. The address is in Cincinnati’s Mount Auburn area, near OTR, downtown, the University of Cincinnati, Findlay Market, Washington Park, and bus service. Occupancy is negotiable.
Key Highlights
- Two units: one 1‑bedroom and one 2‑bedroom
- Separate entrance, kitchen, and bathroom for each apartment
- 1880 brick Italianate building with original architectural details
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,651
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$313,020
$313.0K
Cap Rate 7%
$223,586
$223.6K
Cap Rate 9%
$173,900
$173.9K
Market Conditions
NOI Build-Up for 1,868 SF
Gross rent
$23.8K $12.72/SF
− Vacancy
−$1.4K −$0.75/SF
EGI
$22.4K $11.97/SF
− OpEx
−$6.7K −$3.59/SF
NOI
$15.7K $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%
$313,020
Cap Rate 7%
$223,586
Cap Rate 9%
$173,900
Alternative Uses
Best Use
Multifamily LT 5
$223.6K
$195.6K – $260.9K
NOI $15,651 @ 7.0% cap · market cap 3.83%
Second Best
Apartment 5plus
$198.3K
$173.5K – $231.3K
NOI $13,879 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$371.3K
$324.9K – $433.2K
NOI $25,993 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,006
Businesses Nearby
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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
$444,000
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Cincinnati, OH
Properties on Market for Duplexes in Cincinnati
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two independent apartments combine period architectural details with updated baths and kitchens.
Where is this duplex located?
The property is located at 402 Milton Street Cincinnati, OH.
What is the asking price?
The asking price for this property is $409,000.
What are key features of this property?
This property features: Two units: one 1‑bedroom and one 2‑bedroom; Separate entrance, kitchen, and bathroom for each apartment; 1880 brick Italianate building with original architectural details
