Brick Duplex with Fenced
For Sale
$275,000
4110 Jerome Ave, Cincinnati, OH 45223
Two-unit property with one vacant apartment and one occupied unit.
Property Size2,718 SF
Price / SF$101.18
Days on Market17
Property Features for 4110 Jerome Ave
General Information
Standard status
Active
Size
2,718 SF
Property subtype
Multi-Family
Additional Details
Road Access
Yes
Multifamily Units
2
Amenities
fenced-in rear yard
Building Details
Year Built
1913
Buildings
1
Construction
brick
Listing Agency:
TREO REALTORS
(937) 506-8360
Listed By:
Brett A Keppler · License #2005015284
Source:
Finn-team
Added: Aug 13
Changed: Aug 28
Last Checked: Aug 29 at 12:01PM
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 TREO REALTORS
Investment Insights
Based on property information with market context.
This 2,718-square-foot duplex was built in 1913 and features brick construction, updated bathrooms, and a fenced rear yard. The two apartments are served by separate furnaces and water heaters, supporting independent unit operations. One apartment is vacant, while the other is leased to a long-term resident.
The property sits on a quiet, no-outlet street in Cincinnati’s Northside area, with on-street parking available. Downtown and the University of Cincinnati are accessible from the property. Residents pay all utilities other than water.
The property sits on a quiet, no-outlet street in Cincinnati’s Northside area, with on-street parking available. Downtown and the University of Cincinnati are accessible from the property. Residents pay all utilities other than water.
Key Highlights
- 2,718 SF duplex built in 1913
- Brick construction with updated bathrooms
- Separate furnaces and water heaters for each unit
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
$22,773
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
8.28%
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%
$455,460
$455.5K
Cap Rate 7%
$325,329
$325.3K
Cap Rate 9%
$253,033
$253.0K
Market Conditions
NOI Build-Up for 2,718 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
$34.6K $12.72/SF
− Vacancy
−$2.0K −$0.75/SF
EGI
$32.5K $11.97/SF
− OpEx
−$9.8K −$3.59/SF
NOI
$22.8K $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%
$455,460
Cap Rate 7%
$325,329
Cap Rate 9%
$253,033
Alternative Uses
Best Use
Multifamily LT 5
$325.3K
$284.7K – $379.6K
NOI $22,773 @ 7.0% cap · market cap 8.28%
Second Best
Apartment 5plus
$288.5K
$252.4K – $336.6K
NOI $20,194 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$540.3K
$472.8K – $630.4K
NOI $37,821 @ 7.0% cap · market cap 13.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
355
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 one vacant apartment and one occupied unit.
Where is this duplex located?
The property is located at 4110 Jerome Ave Cincinnati, OH.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 2,718 SF duplex built in 1913; Brick construction with updated bathrooms; Separate furnaces and water heaters for each unit
