Duplex with Updated
For Sale
$219,000
Pending
4489 Ammon Ave, Cincinnati, OH 45223
Two matching residences each offer three bedrooms, two full baths, and separate HVAC and electric service.
Property Size2,688 SF
Days on Market16
Property Features for 4489 Ammon Ave
General Information
Standard status
Pending
Size
2,688 SF
Total Parking Spaces
4
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
2006
Buildings
1
Listing Agency:
Ken Perry Realty, Inc.
(859) 442-6800
Listed By:
Gabrielle Hodge
(513) 417-3709
Source:
Exprealty
Added: Oct 5
Changed: Oct 19
Last Checked: Oct 19 at 8:22AM
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 Ken Perry Realty, Inc.
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Investment Insights
Based on property information with market context.
Constructed in 2006, this 2,688-square-foot duplex contains two matching units, each with three bedrooms, two full bathrooms, and laundry hookups. The upper unit has a fully replaced kitchen. Each residence has its own furnace, air conditioning system, and electric meter; the property also has a modern electric panel, PVC sewer, slab foundation, and two water heaters replaced within the last three years. Four off-street parking spaces serve the building, which is Section 8 approved.
The property is in Cincinnati’s Northside area near the Mount Airy border, south of Mt. Airy Forest. I-74 is about half a mile away, and the forest entrance is approximately one mile from the property. Downtown Cincinnati is a 10- to 12-minute drive. The lower unit is leased month-to-month. The property is offered as-is.
The property is in Cincinnati’s Northside area near the Mount Airy border, south of Mt. Airy Forest. I-74 is about half a mile away, and the forest entrance is approximately one mile from the property. Downtown Cincinnati is a 10- to 12-minute drive. The lower unit is leased month-to-month. The property is offered as-is.
Key Highlights
- Two units, each with 3 bedrooms and 2 full baths
- 2,688‑square‑foot duplex built in 2006
- Four off‑street parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,972
Cap Rate
9.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$399,440
$399.4K
Cap Rate 7%
$285,314
$285.3K
Cap Rate 9%
$221,911
$221.9K
Market Conditions
NOI Build-Up for 2,688 SF
Gross rent
$38.4K $14.28/SF
− Vacancy
−$2.1K −$0.77/SF
EGI
$36.3K $13.51/SF
− OpEx
−$16.3K −$6.08/SF
NOI
$20.0K $7.43/SF
Area
Cincinnati, OH
Vacancy
5.40%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$399,440
Cap Rate 7%
$285,314
Cap Rate 9%
$221,911
Alternative Uses
Best Use
Multifamily LT 5
$321.7K
$281.5K – $375.4K
NOI $22,522 @ 7.0% cap · market cap 10.28%
Second Best
Apartment 5plus
$285.3K
$249.7K – $332.9K
NOI $19,972 @ 7.0% cap · market cap 9.12%
Theoretical Best
Office A
$534.3K
$467.6K – $623.4K
NOI $37,404 @ 7.0% cap · market cap 17.08%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
294
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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two matching residences each offer three bedrooms, two full baths, and separate HVAC and electric service.
Where is this duplex located?
The property is located at 4489 Ammon Ave Cincinnati, OH.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 2 full baths; 2,688‑square‑foot duplex built in 2006; Four off‑street parking spaces
