Student Housing
For Sale
$375,000
421 Southview Avenue, Cincinnati, OH 45219
MULTI_FAMILY - Cincinnati, OH
Property Size2,276 SF
Lot Size0.06 Acres
Price / SF$164.76
Days on Market101
Property Features for 421 Southview Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Window features
Vinyl Frames
Patio and Porch features
Deck, Porch
Exterior features
Porch, Covered Deck
High school district
Cincinnati City SD
Directions
From W. McMillan, South on Fairview, Left on Southview. House on left.
Subdivision
Hamilton-E01
Standard status
Active
APN
098-0006-0039-00
Size
2,276 SF
Lot size
0.06 Acres
Utilities
Heating system
Natural Gas
Building Details
Year built
1900
Number of units
2
Building materials
Vinyl Siding
Roof type
Membrane, Shingle
Listing Agency:
Align Right Realty Infinity
(513) 655-4277
Listed By:
Garry Schloemer
(513) 607-2015
Added: May 1
Changed: Jul 30
Last Checked: Aug 9 at 2:06PM
MLS# 1873143
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 is configured for student-oriented living with two separate units: one 1 bedroom/1 bathroom unit and one 3 bedroom/1 bathroom unit. The property includes basement laundry facilities. Exterior and mechanical updates listed by the seller include a shingle roof replacement in 2025, a rubber membrane roof in 2021, and two furnaces installed in 2025 and 2023. Additional improvements include vinyl siding in 2026, vinyl windows from 2015, and PVC and copper plumbing with a PVC stack.
Located at 421 Southview Avenue in Cincinnati, OH 45219, the property is described as approximately 0.4 miles to the University of Cincinnati. The listing notes utilities are structured with the owner paying water, sewer, and trash, while tenants pay gas and electric.
For buyers seeking a smaller income-producing multi-family asset designed around student occupancy, this duplex offers two distinct unit mixes and a practical basement laundry setup. The listing provides a pro forma for the 2027–2028 school year, showing Unit 1 at $975/month and Unit 2 at $2,095/month, with additional financial information available via the virtual media link.
Located at 421 Southview Avenue in Cincinnati, OH 45219, the property is described as approximately 0.4 miles to the University of Cincinnati. The listing notes utilities are structured with the owner paying water, sewer, and trash, while tenants pay gas and electric.
For buyers seeking a smaller income-producing multi-family asset designed around student occupancy, this duplex offers two distinct unit mixes and a practical basement laundry setup. The listing provides a pro forma for the 2027–2028 school year, showing Unit 1 at $975/month and Unit 2 at $2,095/month, with additional financial information available via the virtual media link.
Key Highlights
- Duplex with one 1BR/1BA unit and one 3BR/1BA unit
- Pro forma rents for 2027–2028: Unit 1 at $975/month and Unit 2 at $2,095/month
- Roof updates include shingle roof (2025) and rubber membrane roof (2021)
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
$19,070
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
5.09%
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%
$381,400
$381.4K
Cap Rate 7%
$272,429
$272.4K
Cap Rate 9%
$211,889
$211.9K
Market Conditions
NOI Build-Up for 2,276 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
$29.0K $12.72/SF
− Vacancy
−$1.7K −$0.75/SF
EGI
$27.2K $11.97/SF
− OpEx
−$8.2K −$3.59/SF
NOI
$19.1K $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%
$381,400
Cap Rate 7%
$272,429
Cap Rate 9%
$211,889
Alternative Uses
Best Use
Multifamily LT 5
$272.4K
$238.4K – $317.8K
NOI $19,070 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$241.6K
$211.4K – $281.8K
NOI $16,910 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$452.4K
$395.9K – $527.9K
NOI $31,671 @ 7.0% cap · market cap 8.45%
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
1,302
Businesses Nearby
Explore this area
Business Placement
Demographics for 45219, OH
20,644
Population
8,023
Households
2.6
Avg Household Size
25
Median Age
50%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
12,903
Density / Sq Mi
$35,936
Median Household Income
$12,462
Median Earnings
$1,166
Median Rent
$222,500
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 - Duplex with one 1BR/1BA and one 3BR/1BA unit, positioned near the University of Cincinnati.
Where is this duplex located?
The property is located at 421 Southview Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Duplex with one 1BR/1BA unit and one 3BR/1BA unit; Pro forma rents for 2027–2028: Unit 1 at $975/month and Unit 2 at $2,095/month; Roof updates include shingle roof (2025) and rubber membrane roof (2021)
