Duplex with Separate
For Sale
$299,900
Pending
5 Laurel Ave, Milford, OH 45150
Two-unit property near downtown Milford with replacement windows and a replaced roof.
Property Size1,400 SF
Days on Market11
Property Features for 5 Laurel Ave
General Information
Standard status
Pending
Size
1,400 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
needs TLC
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Building Details
Buildings
1
Listing Agency:
Keller Williams Advisors
(513) 874-3300
Listed By:
Gregory A Hinners
(513) 225-2010
Source:
Exprealty
Added: Sep 11
Changed: Sep 20
Last Checked: Sep 20 at 2:45PM
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 Advisors
Investment Insights
Based on property information with market context.
This 1,400-square-foot duplex includes two residential sides, with separate water and gas metering for each unit. The property has two high-efficiency gas furnaces and two water heaters. One side is rented and in good condition, while the other requires TLC. The roof has been replaced, and replacement windows are in place.
Located at 5 Laurel Ave in Milford, the property is three blocks from downtown Milford’s Main Street. The surrounding area includes a brewery, 20 Brix, a bike trail, and the river. The two-unit layout and separate utility systems provide a defined configuration for continued rental use or a short-term rental approach, as supported by the property information.
Located at 5 Laurel Ave in Milford, the property is three blocks from downtown Milford’s Main Street. The surrounding area includes a brewery, 20 Brix, a bike trail, and the river. The two-unit layout and separate utility systems provide a defined configuration for continued rental use or a short-term rental approach, as supported by the property information.
Key Highlights
- 1,400 sq ft duplex at 5 Laurel Ave, Milford, OH
- Two water meters and two gas meters
- Two high‑efficiency gas furnaces and two water heaters
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
$15,122
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
5.04%
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%
$302,440
$302.4K
Cap Rate 7%
$216,029
$216.0K
Cap Rate 9%
$168,022
$168.0K
Market Conditions
NOI Build-Up for 1,400 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
$22.7K $16.20/SF
− Vacancy
−$1.1K −$0.77/SF
EGI
$21.6K $15.43/SF
− OpEx
−$6.5K −$4.63/SF
NOI
$15.1K $10.80/SF
Area
Clermont County, OH
Vacancy
4.75%
Lease Rate
$16.20 /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%
$302,440
Cap Rate 7%
$216,029
Cap Rate 9%
$168,022
Alternative Uses
Best Use
Multifamily LT 5
$216.0K
$189.0K – $252.0K
NOI $15,122 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$188.1K
$164.6K – $219.5K
NOI $13,167 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$251.0K
$219.6K – $292.8K
NOI $17,569 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
594
Businesses Nearby
Explore this area
Business Placement
Demographics for 45150, OH
33,735
Population
14,432
Households
2.3
Avg Household Size
42
Median Age
41%
College-Educated
95%
High-School Grad
32.3 sq mi
ZIP Area
1,044
Density / Sq Mi
$91,780
Median Household Income
$51,494
Median Earnings
$1,033
Median Rent
$267,900
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property near downtown Milford with replacement windows and a replaced roof.
Where is this duplex located?
The property is located at 5 Laurel Ave Milford, OH.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1,400 sq ft duplex at 5 Laurel Ave, Milford, OH; Two water meters and two gas meters; Two high‑efficiency gas furnaces and two water heaters
