Brick Duplex with Fenced
For Sale
$275,000
4110 Jerome Avenue, Cincinnati, OH 45223
Residential Income, Cincinnati, OH
Property Size2,718 SF
Lot Size0.10 Acres
Price / SF$101.18
Days on Market12
Property Features for 4110 Jerome Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street, Off Street
Patio and Porch features
Porch
Exterior features
Porch, Metal Fence
Fencing
Fenced
High school district
Cincinnati City SD
Directions
75S toward Cincinnati, exit 4 toward Indianapolis, slight right, merge on Beekman, continue on Colerain Ave, R on Virginia, R on Chase, R on Jerome
Subdivision
Hamilton-W05
Standard status
Active
APN
195-0029-0136-00
Size
2,718 SF
Lot size
0.10 Acres
Utilities
Heating system
Natural Gas
Building Details
Year built
1913
Number of units
2
Building materials
Brick
Roof type
Slate
Listing Agency:
TREO REALTORS
(513) 731-8736
Listed By:
Brett Keppler · License #2007006185
(513) 225-1790
Added: Aug 11
Changed: Aug 19
Last Checked: Aug 22 at 7:06AM
MLS# 1890201
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 2,718-square-foot brick duplex, built in 1913, includes two residential units with updated baths, separate furnaces, and separate water heaters. The upstairs apartment is vacant, while the downstairs unit is occupied by a long-term tenant. Tenants pay all utilities except water. A porch, slate roof, and fenced rear yard add to the property's physical features, with both on-street and off-street parking available.
The property sits on a 0.099-acre lot along a no-outlet street in Cincinnati's Northside area. Downtown Cincinnati and UC are accessible from the property, and the location provides on-street parking in addition to the off-street spaces.
The property sits on a 0.099-acre lot along a no-outlet street in Cincinnati's Northside area. Downtown Cincinnati and UC are accessible from the property, and the location provides on-street parking in addition to the off-street spaces.
Key Highlights
- 2,718‑square‑foot brick duplex built in 1913
- Upstairs unit is vacant; downstairs unit is rented
- 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
50%
Occupancy
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Owner-occupant property with one rented unit, separate mechanical systems, and convenient access to downtown and UC.
Where is this duplex located?
The property is located at 4110 Jerome Avenue 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‑square‑foot brick duplex built in 1913; Upstairs unit is vacant; downstairs unit is rented; Separate furnaces and water heaters for each unit
