Duplex with Separate
New
For Sale
$299,900
Pending
5 Laurel Avenue, Milford, OH 45150
Residential Income, Milford, OH
Property Size1,400 SF
Lot Size0.25 Acres
Days on Market5
Property Features for 5 Laurel Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Driveway
Window features
Vinyl Frames
Patio and Porch features
Porch
Exterior features
Porch
High school district
Milford Ex Vill SD
Directions
Milford bridge to Mill Street up the hill to corner of Laurel Ave. Both unit may have had fireplaces at one time. Both FP are now covered.
Subdivision
Clermont-C02
Standard status
Pending
APN
21-07-06.-016D
Size
1,400 SF
Lot size
0.25 Acres
Utilities
Heating system
Forced Air, Natural Gas
Building Details
Year built
1910
Number of units
2
Building materials
Stone, Vinyl Siding
Roof type
Shingle
Listing Agency:
Keller Williams Advisors · Keller Williams Realty
(513) 874-3300
Listed By:
Gregory Hinners
(513) 766-9200
Added: Sep 8
Changed: Sep 11
Last Checked: Sep 12 at 8:06AM
MLS# 1893728
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.
This 1,400-square-foot duplex, built in 1910, sits on a 0.2479-acre lot and includes two separate living sides. One side is currently rented and described as being in good condition, while the other requires TLC. Each side is supported by its own gas and water meter, with two high-efficiency gas furnaces and two water heaters serving the property. A porch, driveway, shingle roof, stone and vinyl-siding exterior, forced-air heat, and replacement windows are also included.
The property is located three blocks from downtown Milford’s Main Street, with access to a brewery, 20 Brix, a bike trail, and the river. The layout is identified as suitable for rental use or short-term rental use, subject to applicable requirements.
The property is located three blocks from downtown Milford’s Main Street, with access to a brewery, 20 Brix, a bike trail, and the river. The layout is identified as suitable for rental use or short-term rental use, subject to applicable requirements.
Key Highlights
- 1,400‑square‑foot duplex on a 0.2479‑acre lot
- Two gas meters, two water meters, two high‑efficiency gas furnaces, and two water heaters
- One side is rented and in good shape; the other side needs TLC
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property near downtown Milford with separate gas and water meters and driveway parking.
Where is this duplex located?
The property is located at 5 Laurel Avenue 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‑square‑foot duplex on a 0.2479‑acre lot; Two gas meters, two water meters, two high‑efficiency gas furnaces, and two water heaters; One side is rented and in good shape; the other side needs TLC
