Updated Two-Unit
For Sale
$429,000
404 Mohawk Street, Cincinnati, OH 45214
Residential Income, Cincinnati, OH
Property Size2,083 SF
Lot Size0.06 Acres
Price / SF$205.95
Days on Market93
Property Features for 404 Mohawk Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Window features
Vinyl Frames
Patio and Porch features
Deck
Exterior features
Deck
High school district
Cincinnati City SD
Directions
Ravine Street to Mohawk Street. Property will be on the left.
Subdivision
Hamilton-E01
Standard status
Active
APN
096-0004-0018-00
Size
2,083 SF
Lot size
0.06 Acres
Utilities
Heating system
Natural Gas, Forced Air
Building Details
Year built
1874
Number of units
2
Building materials
Vinyl Siding, Wood Siding
Roof type
Shingle
Listing Agency:
eXp Realty
(216) 242-2322
Listed By:
Christi Nolan
(866) 212-4991
Added: Jun 7
Changed: Sep 6
Last Checked: Sep 7 at 3:06PM
MLS# 1881569
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 2,083-square-foot duplex contains two separately configured residences. One unit provides a one-bedroom layout with a renovated bathroom, while the other offers two bedrooms, one bath, contemporary furnishings, and an inviting living area. Furnishings in the two-bedroom unit are included. The property also features a deck, vinyl and wood siding, shingle roofing, natural-gas forced-air heat, and on-street parking. Built in 1874, the building has received recent improvements and major updates.
The property is in Cincinnati’s Mohawk District, above Over-the-Rhine, with city views and walkable access to the Brewery District, TQL Stadium, Findlay Market, restaurants, breweries, shops, and entertainment venues. Its location and two-unit configuration support owner-occupancy, investment, or short-term rental use as described.
The property is in Cincinnati’s Mohawk District, above Over-the-Rhine, with city views and walkable access to the Brewery District, TQL Stadium, Findlay Market, restaurants, breweries, shops, and entertainment venues. Its location and two-unit configuration support owner-occupancy, investment, or short-term rental use as described.
Key Highlights
- 2,083‑square‑foot duplex on a 0.057‑acre lot
- Two units: one bedroom in Unit 1 and two bedrooms with one bath in Unit 2
- Unit 2 furnishings are included
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
$17,453
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
4.07%
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%
$349,060
$349.1K
Cap Rate 7%
$249,329
$249.3K
Cap Rate 9%
$193,922
$193.9K
Market Conditions
NOI Build-Up for 2,083 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
$26.5K $12.72/SF
− Vacancy
−$1.6K −$0.75/SF
EGI
$24.9K $11.97/SF
− OpEx
−$7.5K −$3.59/SF
NOI
$17.5K $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%
$349,060
Cap Rate 7%
$249,329
Cap Rate 9%
$193,922
Alternative Uses
Best Use
Multifamily LT 5
$249.3K
$218.2K – $290.9K
NOI $17,453 @ 7.0% cap · market cap 4.07%
Second Best
Apartment 5plus
$221.1K
$193.5K – $257.9K
NOI $15,476 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$414.1K
$362.3K – $483.1K
NOI $28,985 @ 7.0% cap · market cap 6.76%
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
1,648
Businesses Nearby
Explore this area
Business Placement
Demographics for 45214, OH
8,901
Population
5,028
Households
1.8
Avg Household Size
32
Median Age
23%
College-Educated
88%
High-School Grad
2.7 sq mi
ZIP Area
3,297
Density / Sq Mi
$26,348
Median Household Income
$27,243
Median Earnings
$762
Median Rent
$102,000
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 distinct layouts include a one-bedroom unit and a furnished two-bedroom unit.
Where is this duplex located?
The property is located at 404 Mohawk Street Cincinnati, OH.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: 2,083‑square‑foot duplex on a 0.057‑acre lot; Two units: one bedroom in Unit 1 and two bedrooms with one bath in Unit 2; Unit 2 furnishings are included
