Duplex with Separate
5 Laurel Ave, Milford, OH 45150
For Sale
$299,900
Pending
Two-unit property near downtown Milford with replacement windows and a replaced roof.
Property Size1,400 SF
Days on Market58
Property Features for 5 Laurel Ave
General Information
Standard status
Size
Property subtype
Property Condition
Severity
Evidence
Additional Details
Utilities to Site
Multifamily Units
Building Details
Buildings
Listing Agency:
Keller Williams Advisors
(513) 874-3300
Listed By:
Gregory A Hinners
(513) 225-2010
Source:
Exprealty
Added: Sep 11
Changed: Nov 4
Last Checked: Nov 6 at 10:57AM
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
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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 / Yr
$15,122
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
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
