Duplex with Attached
For Sale
$224,900
408 Blair Ave, Georgetown, OH 45121
Both residences include two bedrooms, in-unit laundry, and covered outdoor space.
Property Size1,792 SF
Price / SF$125.50
Days on Market20
Property Features for 408 Blair Ave
General Information
Standard status
Active
Size
1,792 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
in-unit laundry
back covered deck
kitchen pantries
extra large utility closet
Listing Agency:
ERA REAL Solutions Realty, LLC
(513) 873-6116
Listed By:
Tammy Brown
(513) 404-9544
Source:
Exprealty
Added: Oct 7
Changed: Oct 25
Last Checked: Oct 24 at 7:54PM
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 ERA REAL Solutions Realty, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-unit residential property offers a two-bedroom, one-bath layout in each residence, with an eat-in kitchen and in-unit laundry. Each unit has a 9 x 23 garage. Kitchen pantries, an oversized utility closet, and a covered rear deck add storage and outdoor space. The mechanical systems have been updated.
The property is in historic Georgetown, near schools, a library, and parks.
The property is in historic Georgetown, near schools, a library, and parks.
Key Highlights
- Two residential units, each with 2 bedrooms and 1 full bath
- Each unit includes a 9 x 23 garage
- Eat‑in kitchens and in‑unit laundry in both residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,937
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$158,740
$158.7K
Cap Rate 7%
$113,386
$113.4K
Cap Rate 9%
$88,189
$88.2K
Market Conditions
NOI Build-Up for 1,792 SF
Gross rent
$12.3K $6.84/SF
− Vacancy
−$919 −$0.51/SF
EGI
$11.3K $6.33/SF
− OpEx
−$3.4K −$1.90/SF
NOI
$7.9K $4.43/SF
Area
Brown County, OH
Vacancy
7.50%
Lease Rate
$6.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$158,740
Cap Rate 7%
$113,386
Cap Rate 9%
$88,189
Alternative Uses
Best Use
Multifamily LT 5
$113.4K
$99.2K – $132.3K
NOI $7,937 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$105.3K
$92.1K – $122.8K
NOI $7,370 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$354.3K
$310.0K – $413.4K
NOI $24,802 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
Explore this area
Business Placement
Demographics for 45121, OH
8,927
Population
4,243
Households
2.1
Avg Household Size
43
Median Age
19%
College-Educated
86%
High-School Grad
106.8 sq mi
ZIP Area
84
Density / Sq Mi
$57,274
Median Household Income
$34,907
Median Earnings
$680
Median Rent
$150,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences include two bedrooms, in-unit laundry, and covered outdoor space.
Where is this duplex located?
The property is located at 408 Blair Ave Georgetown, OH.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Two residential units, each with 2 bedrooms and 1 full bath; Each unit includes a 9 x 23 garage; Eat‑in kitchens and in‑unit laundry in both residences
