Brick Duplex with Updated
For Sale
$330,000
Pending
4228 Dane Ave, Cincinnati, OH 45223
Fully occupied two-unit property with private parking and a shaded backyard.
Property Size1,948 SF
Days on Market60
Property Features for 4228 Dane Ave
General Information
Standard status
Pending
Size
1,948 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
1 x 3BR, 1 x 1BR
Multifamily Units
2
Amenities
private off-street parking
shaded backyard
Building Details
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Keller Williams Seven Hills Re
(513) 568-7965
Listed By:
William S Reed
(513) 568-7965
Source:
Exprealty
Added: Jun 26
Changed: Aug 21
Last Checked: Aug 23 at 3:44AM
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 Seven Hills Re
Investment Insights
Based on property information with market context.
Located at 4228 Dane Ave in Cincinnati, this 1,948-square-foot duplex contains two residential units: one with three bedrooms and another with one bedroom. Both units are currently occupied, providing established tenancy at the time of listing.
The property features durable brick construction, a recently painted exterior, and recently installed furnace and A/C systems. Private off-street parking and a shaded backyard add functional outdoor amenities for the occupants. The building’s unit mix and existing tenancy provide a straightforward multifamily configuration.
The property features durable brick construction, a recently painted exterior, and recently installed furnace and A/C systems. Private off-street parking and a shaded backyard add functional outdoor amenities for the occupants. The building’s unit mix and existing tenancy provide a straightforward multifamily configuration.
Key Highlights
- 1,948‑square‑foot duplex with one 3‑bedroom unit and one 1‑bedroom unit
- Both units are currently occupied by tenants
- Brick construction with recently painted exterior
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
$16,322
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
4.95%
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%
$326,440
$326.4K
Cap Rate 7%
$233,171
$233.2K
Cap Rate 9%
$181,356
$181.4K
Market Conditions
NOI Build-Up for 1,948 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
$24.8K $12.72/SF
− Vacancy
−$1.5K −$0.75/SF
EGI
$23.3K $11.97/SF
− OpEx
−$7.0K −$3.59/SF
NOI
$16.3K $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%
$326,440
Cap Rate 7%
$233,171
Cap Rate 9%
$181,356
Alternative Uses
Best Use
Multifamily LT 5
$233.2K
$204.0K – $272.0K
NOI $16,322 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$206.8K
$180.9K – $241.2K
NOI $14,473 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$387.2K
$338.8K – $451.8K
NOI $27,106 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
685
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 - Fully occupied two-unit property with private parking and a shaded backyard.
Where is this duplex located?
The property is located at 4228 Dane Ave Cincinnati, OH.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: 1,948‑square‑foot duplex with one 3‑bedroom unit and one 1‑bedroom unit; Both units are currently occupied by tenants; Brick construction with recently painted exterior
