Renovated Duplex with Private
For Sale
$399,000
4100 Fergus St, Cincinnati, OH 45223
Two updated units offer in-unit laundry, separate utilities, and access to a shared fenced backyard.
Property Size2,744 SF
Price / SF$145.41
Days on Market10
Property Features for 4100 Fergus St
General Information
Standard status
Active
Size
2,744 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
in-unit laundry
shared fenced backyard
Building Details
Year Renovated
2016
Listing Agency:
Keller Williams Advisors
(513) 532-6462
Listed By:
Alicia J Stoughton · License #2016003934
(513) 532-6462
Source:
Exprealty
Added: Aug 13
Changed: Aug 20
Last Checked: Aug 21 at 9:12AM
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 2,744-square-foot duplex contains two 2-bedroom, 1-bath units, each with its own entrance and in-unit laundry. The property was renovated in 2016 and retains hardwood flooring, exposed brick, and abundant natural light. Both apartments share a fenced backyard, while separate utilities and mechanical systems support straightforward ownership. Unit 1 has a new furnace, and a sewer liner was installed in 2025. A 30-year roof dates to 2016, and the siding was replaced in 2018 with a 25-year warranty.
Both units are currently leased month-to-month. Tenants pay gas and electric, while the owner covers water, sewer, and trash. The existing lease structure provides flexibility for an owner-occupant or for establishing new leases.
Both units are currently leased month-to-month. Tenants pay gas and electric, while the owner covers water, sewer, and trash. The existing lease structure provides flexibility for an owner-occupant or for establishing new leases.
Key Highlights
- Two 2‑bedroom, 1‑bath units within a 2,744‑square‑foot duplex
- Renovated in 2016 with hardwood floors, exposed brick, and natural light
- Private entrances and in‑unit laundry serve both apartments
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
$22,991
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
5.76%
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%
$459,820
$459.8K
Cap Rate 7%
$328,443
$328.4K
Cap Rate 9%
$255,456
$255.5K
Market Conditions
NOI Build-Up for 2,744 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
$34.9K $12.72/SF
− Vacancy
−$2.1K −$0.75/SF
EGI
$32.8K $11.97/SF
− OpEx
−$9.9K −$3.59/SF
NOI
$23.0K $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%
$459,820
Cap Rate 7%
$328,443
Cap Rate 9%
$255,456
Alternative Uses
Best Use
Multifamily LT 5
$328.4K
$287.4K – $383.2K
NOI $22,991 @ 7.0% cap · market cap 5.76%
Second Best
Apartment 5plus
$291.3K
$254.9K – $339.8K
NOI $20,388 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$545.5K
$477.3K – $636.4K
NOI $38,183 @ 7.0% cap · market cap 9.57%
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
779
Businesses Nearby
Explore this area
Business Placement
Demographics for 45223, OH
13,174
Population
6,765
Households
1.9
Avg Household Size
33
Median Age
43%
College-Educated
91%
High-School Grad
4.6 sq mi
ZIP Area
2,864
Density / Sq Mi
$46,930
Median Household Income
$41,482
Median Earnings
$914
Median Rent
$203,800
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 updated units offer in-unit laundry, separate utilities, and access to a shared fenced backyard.
Where is this duplex located?
The property is located at 4100 Fergus St Cincinnati, OH.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units within a 2,744‑square‑foot duplex; Renovated in 2016 with hardwood floors, exposed brick, and natural light; Private entrances and in‑unit laundry serve both apartments
