Duplex with Separate
New
For Sale
$219,000
4489 Ammon Avenue, Cincinnati, OH 45223
Residential Income, Cincinnati, OH
Property Size2,688 SF
Lot Size0.19 Acres
Price / SF$81.47
Days on Market1
Property Features for 4489 Ammon Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street
High school district
Cincinnati City SD
Directions
At corner of Ammon Ave and Colerain Ave (Ammon Ave runs west off Colerain just north of West Fork Rd).
Subdivision
Hamilton-W05
Standard status
Active
APN
1950031002800
Size
2,688 SF
Lot size
0.19 Acres
Utilities
Heating system
Natural Gas, Forced Air
Building Details
Year built
2006
Number of units
2
Building materials
Brick, Vinyl Siding
Roof type
Shingle
Listing Agency:
Ken Perry Realty, Inc.
(859) 442-6800
Listed By:
Gabrielle Hodge
(859) 240-8229
Added: Oct 5
Last Checked: Oct 5 at 9:06PM
MLS# 1895895
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.
Completed in 2006, this brick and vinyl-sided duplex contains two matching apartments, each with three bedrooms, two full bathrooms, and laundry hookups. Separate furnaces, air conditioning, and electric meters serve the units. The building has a slab foundation, a modern electrical panel, PVC sewer lines, and two water heaters replaced within the last three years. The upper apartment has a fully replaced kitchen. Four off-street parking spaces serve the property, which occupies 0.194 acres and contains 2,688 square feet.
The property is in Cincinnati’s Northside area near the Mount Airy border. I-74 is about half a mile away, downtown Cincinnati is a 10- to 12-minute drive, and the Mount Airy Forest entrance is about one mile away. The building is Section 8 approved and is being sold as-is.
The property is in Cincinnati’s Northside area near the Mount Airy border. I-74 is about half a mile away, downtown Cincinnati is a 10- to 12-minute drive, and the Mount Airy Forest entrance is about one mile away. The building is Section 8 approved and is being sold as-is.
Key Highlights
- Two matching units, each with 3 bedrooms, 2 full baths, and laundry hookups
- Separate furnace, A/C, and electric meter for each apartment
- Built in 2006; 2,688 square feet on 0.194 acres
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.
Property Analytics
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Current Use
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two matching residences offer flexible occupancy, with distinct heating systems, cooling, and electric meters for each unit.
Where is this duplex located?
The property is located at 4489 Ammon Avenue 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 matching units, each with 3 bedrooms, 2 full baths, and laundry hookups; Separate furnace, A/C, and electric meter for each apartment; Built in 2006; 2,688 square feet on 0.194 acres
