Renovated Duplex with Private
For Sale
$399,000
4100 Fergus Street, Cincinnati, OH 45223
Residential Income, Cincinnati, OH
Property Size2,744 SF
Lot Size0.10 Acres
Price / SF$145.41
Days on Market27
Property Features for 4100 Fergus Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Window features
Vinyl Frames
Exterior features
Wood Fence, Privacy Fence
Fencing
Wood, Privacy
Fireplace
1
High school district
Cincinnati City SD
Directions
Hamilton Ave to Knowlton St to Fergus St
Subdivision
Hamilton-W05
Standard status
Active
APN
221-0019-0183-00
Size
2,744 SF
Lot size
0.10 Acres
Utilities
Heating system
Forced Air, Natural Gas
Amenities
in-unit laundry
hardwood floors
exposed brick
shared fenced-in backyard
Building Details
Year built
1888
Number of units
2
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
Keller Williams Advisors · Keller Williams Realty
(513) 766-9200
Listed By:
Alicia Stoughton · License #2016003934
(513) 532-6462
Added: Aug 13
Changed: Sep 3
Last Checked: Sep 8 at 3:06AM
MLS# 1890411
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 duplex contains two 2-bedroom, 1-bath units within 2,744 square feet. Each residence has its own entrance and in-unit laundry, while hardwood floors, exposed brick, fireplaces, and abundant natural light add character. The property includes a shared fenced backyard, separate utilities and mechanical systems, forced-air natural gas heating, vinyl siding, and on-street parking.
The building dates to 1888 and has received several significant updates. Renovation work was completed in 2016, including a 30-year roof; siding was replaced in 2018 with a 25-year warranty. Unit 1 has a new furnace, and a sewer liner was installed in 2025. Tenants pay gas and electric, while ownership covers water, sewer, and trash.
Both units are currently leased month-to-month, providing flexibility for an owner-occupant or for establishing new lease terms.
The building dates to 1888 and has received several significant updates. Renovation work was completed in 2016, including a 30-year roof; siding was replaced in 2018 with a 25-year warranty. Unit 1 has a new furnace, and a sewer liner was installed in 2025. Tenants pay gas and electric, while ownership covers water, sewer, and trash.
Both units are currently leased month-to-month, providing flexibility for an owner-occupant or for establishing new lease terms.
Key Highlights
- Two 2 bed, 1 bath units totaling 2,744 square feet
- Renovated in 2016 with a 30 year roof installed the same year
- Siding replaced in 2018 with a 25 year warranty
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
Multi-tenant
Tenancy
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-unit property with separate utilities, in-unit laundry, and a shared fenced backyard.
Where is this duplex located?
The property is located at 4100 Fergus Street 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 bed, 1 bath units totaling 2,744 square feet; Renovated in 2016 with a 30 year roof installed the same year; Siding replaced in 2018 with a 25 year warranty
