Occupied
For Sale
$169,900
510 Tafel Street, Cincinnati, OH 45225
Residential Income, Cincinnati, OH
Property Size1,636 SF
Lot Size0.06 Acres
Price / SF$103.85
Days on Market145
Property Features for 510 Tafel Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Fireplace
1
High school district
Cincinnati City SD
Directions
Central Parkway to E Marshall to McMicken to Tafel
Subdivision
Hamilton-E01
Standard status
Active
APN
098-0004-0032-00
Size
1,636 SF
Lot size
0.06 Acres
Utilities
Heating system
Natural Gas
Building Details
Year built
1882
Number of units
2
Building materials
Aluminum Siding
Roof type
Shingle
Listing Agency:
Ken Perry Realty, Inc.
(859) 442-6800
Listed By:
Kelli Smith · License #197297
(859) 240-8229
Added: Apr 9
Changed: Aug 19
Last Checked: Aug 31 at 10:06PM
MLS# 1874767
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 duplex contains two residential units within a 1,636-square-foot property built in 1882. The building features aluminum siding, a shingle roof, natural-gas heating, a fireplace, and on-street parking. Both units are occupied, and electric service is paid by the tenants.
The property is located at 510 Tafel Street in Cincinnati, near the University of Cincinnati. Its 0.058-acre lot supports an established residential setting close to the university campus. The combination of two occupied units, tenant-paid electric, and proximity to the University of Cincinnati provides clear operating facts for evaluating this residential income property.
The property is located at 510 Tafel Street in Cincinnati, near the University of Cincinnati. Its 0.058-acre lot supports an established residential setting close to the university campus. The combination of two occupied units, tenant-paid electric, and proximity to the University of Cincinnati provides clear operating facts for evaluating this residential income property.
Key Highlights
- Two‑unit duplex with both units currently occupied
- 1,636 square feet on a 0.058‑acre lot
- Located near the University of Cincinnati
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
$13,707
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
8.07%
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%
$274,140
$274.1K
Cap Rate 7%
$195,814
$195.8K
Cap Rate 9%
$152,300
$152.3K
Market Conditions
NOI Build-Up for 1,636 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
$20.8K $12.72/SF
− Vacancy
−$1.2K −$0.75/SF
EGI
$19.6K $11.97/SF
− OpEx
−$5.9K −$3.59/SF
NOI
$13.7K $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 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%
$274,140
Cap Rate 7%
$195,814
Cap Rate 9%
$152,300
Alternative Uses
Best Use
Multifamily LT 5
$195.8K
$171.3K – $228.5K
NOI $13,707 @ 7.0% cap · market cap 8.07%
Second Best
Apartment 5plus
$173.6K
$151.9K – $202.6K
NOI $12,155 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$325.2K
$284.6K – $379.4K
NOI $22,765 @ 7.0% cap · market cap 13.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,138
Businesses Nearby
Explore this area
Business Placement
Demographics for 45225, OH
8,006
Population
4,694
Households
1.7
Avg Household Size
28
Median Age
9%
College-Educated
79%
High-School Grad
2.9 sq mi
ZIP Area
2,761
Density / Sq Mi
$22,320
Median Household Income
$20,948
Median Earnings
$639
Median Rent
$108,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property near the University of Cincinnati with both units occupied and tenant-paid electric service.
Where is this duplex located?
The property is located at 510 Tafel Street Cincinnati, OH.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: Two‑unit duplex with both units currently occupied; 1,636 square feet on a 0.058‑acre lot; Located near the University of Cincinnati
