Two-Unit Duplex with
New
For Sale
$367,000
4602 Simpson Avenue, Cincinnati, OH 45227
Residential Income, Cincinnati, OH
Property Size1,880 SF
Lot Size0.10 Acres
Price / SF$195.21
Days on Market5
Property Features for 4602 Simpson Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street, Garage
Window features
Vinyl Frames
Patio and Porch features
Porch
Exterior features
Porch
High school district
Cincinnati City SD
Directions
Turn right onto US-50 E/Columbia Pkwy Turn left onto Watterson Rd and stay on w/ a slight right Turn right onto Bramble Ave Turn left onto Simpson
Subdivision
Hamilton-E04
Standard status
Active
APN
036-0004-0205-00
Lot size
0.10 Acres
Additional Details
Individually Metered Utilities
gas, electric
Utilities
Heating system
Forced Air, Natural Gas
Amenities
front porch
rear patio
laundry hookups
Building Details
Year built
1896
Number of units
2
Roof type
Shingle
Buildings
1
Listing Agency:
eXp Realty
(216) 242-2322
Listed By:
Tyler Martsolf
(866) 212-4991
Added: Oct 28
Changed: Oct 29
Last Checked: Nov 1 at 1:06AM
MLS# 1898648
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.
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Investment Insights
Based on property information with market context.
This Cincinnati duplex contains a first-floor 1-bedroom, 1-bathroom unit of approximately 814 square feet and a second-floor 2-bedroom, 1-bathroom unit of approximately 1,066 square feet. An approximately 801-square-foot third-floor bonus room adds to the building’s configuration. Separate gas and electric meters, individual furnaces, and separate water heaters serve the units; the owner pays the water bill. Interior finishes include hardwood in one unit and LVP in the other. The property also has basement laundry hookups, a front porch, a rear patio, and a two-car garage. Built in 1896, it sits on a 0.102-acre lot.
The property is in Cincinnati’s 45227 ZIP code, near Madisonville’s business district, Mariemont, and Oakley, with highway access described as convenient.
The property is in Cincinnati’s 45227 ZIP code, near Madisonville’s business district, Mariemont, and Oakley, with highway access described as convenient.
Key Highlights
- Two residences: 1‑bedroom/1‑bathroom unit (approximately 814 square feet) and 2‑bedroom/1‑bathroom unit (approximately 1,066 square feet)
- Approximately 801‑square‑foot third‑floor bonus room
- Separate gas and electric meters, individual furnaces, and separate water heaters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,752
Cap Rate
4.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$315,040
$315.0K
Cap Rate 7%
$225,029
$225.0K
Cap Rate 9%
$175,022
$175.0K
Market Conditions
NOI Build-Up for 1,880 SF
Gross rent
$23.9K $12.72/SF
− Vacancy
−$1.4K −$0.75/SF
EGI
$22.5K $11.97/SF
− OpEx
−$6.8K −$3.59/SF
NOI
$15.8K $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 Rate 5%
$315,040
Cap Rate 7%
$225,029
Cap Rate 9%
$175,022
Alternative Uses
Best Use
Multifamily LT 5
$225.0K
$196.9K – $262.5K
NOI $15,752 @ 7.0% cap · market cap 4.29%
Second Best
Apartment 5plus
$199.5K
$174.6K – $232.8K
NOI $13,968 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$373.7K
$327.0K – $436.0K
NOI $26,160 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
506
Businesses Nearby
Explore this area
Business Placement
Demographics for 45227, OH
18,427
Population
9,425
Households
2
Avg Household Size
38
Median Age
53%
College-Educated
94%
High-School Grad
5.8 sq mi
ZIP Area
3,177
Density / Sq Mi
$70,614
Median Household Income
$50,011
Median Earnings
$1,220
Median Rent
$256,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Separate utility meters, individual furnaces, and water heaters serve the two residences.
Where is this duplex located?
The property is located at 4602 Simpson Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $367,000.
What are key features of this property?
This property features: Two residences: 1‑bedroom/1‑bathroom unit (approximately 814 square feet) and 2‑bedroom/1‑bathroom unit (approximately 1,066 square feet); Approximately 801‑square‑foot third‑floor bonus room; Separate gas and electric meters, individual furnaces, and separate water heaters
