Brick Duplex with Detached
New
For Sale
Contact for pricing
4418 Sullivan Avenue, Cincinnati, OH 45217
Two-unit layout includes formal dining rooms, refinished oak floors, and stained-glass details.
Property Size3,858 SF
Price / SF$97.20
Days on Market7
Property Features for 4418 Sullivan Avenue
General Information
Standard status
Active
Size
3,858 SF
Total Parking Spaces
4
Property subtype
Multifamily
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Amenities
patio
playroom/office
Building Details
Year Built
1914
Buildings
1
Construction
brick
Listing Agency:
Comey & Shepherd
(513) 309-9240
Listed By:
Daniel Braun
Source:
Crexi
Added: Aug 26
Changed: Aug 31
Last Checked: Aug 31 at 9:33AM
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 Comey & Shepherd
Investment Insights
Based on property information with market context.
Built in 1914, this 3,858-square-foot brick duplex contains a two-bedroom unit and a three-bedroom unit. Both residences include formal dining rooms, refinished oak flooring, and stained-glass features. The property spans four levels, with additional storage throughout and a third-floor playroom or office area. Plumbing is stubbed for a future bathroom on that level.
Recent property improvements include a new roof, newer HVAC equipment, updated electrical service, and a repaved parking court. Exterior amenities include a large rear patio and a detached four-car garage with workshop space.
The property is located in the Village of St. Bernard near local shops, pubs, schools, and the library. Community events include an annual 4th of July celebration.
Recent property improvements include a new roof, newer HVAC equipment, updated electrical service, and a repaved parking court. Exterior amenities include a large rear patio and a detached four-car garage with workshop space.
The property is located in the Village of St. Bernard near local shops, pubs, schools, and the library. Community events include an annual 4th of July celebration.
Key Highlights
- 3,858‑square‑foot brick duplex built in 1914
- Two‑bedroom and three‑bedroom units with formal dining rooms
- Refinished oak floors and stained‑glass details in both units
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
$32,325
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
8.62%
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%
$646,500
$646.5K
Cap Rate 7%
$461,786
$461.8K
Cap Rate 9%
$359,167
$359.2K
Market Conditions
NOI Build-Up for 3,858 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
$49.1K $12.72/SF
− Vacancy
−$2.9K −$0.75/SF
EGI
$46.2K $11.97/SF
− OpEx
−$13.9K −$3.59/SF
NOI
$32.3K $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%
$646,500
Cap Rate 7%
$461,786
Cap Rate 9%
$359,167
Alternative Uses
Best Use
Multifamily LT 5
$461.8K
$404.1K – $538.8K
NOI $32,325 @ 7.0% cap · market cap 8.62%
Second Best
Apartment 5plus
$409.5K
$358.3K – $477.7K
NOI $28,664 @ 7.0% cap · market cap 7.64%
Theoretical Best
Office A
$766.9K
$671.1K – $894.7K
NOI $53,684 @ 7.0% cap · market cap 14.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
401
Businesses Nearby
Explore this area
Business Placement
Demographics for 45217, OH
6,177
Population
2,852
Households
2.2
Avg Household Size
39
Median Age
34%
College-Educated
94%
High-School Grad
2.2 sq mi
ZIP Area
2,808
Density / Sq Mi
$67,974
Median Household Income
$45,789
Median Earnings
$923
Median Rent
$149,200
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 layout includes formal dining rooms, refinished oak floors, and stained-glass details.
Where is this duplex located?
The property is located at 4418 Sullivan 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: 3,858‑square‑foot brick duplex built in 1914; Two‑bedroom and three‑bedroom units with formal dining rooms; Refinished oak floors and stained‑glass details in both units
