Renovated Duplex with Modern
For Sale
$385,000
518 Forest Ave, Cincinnati, OH 45229
Two-unit property with updated interiors, refreshed exterior components, and a new HVAC system.
Property Size3,028 SF
Price / SF$127.15
Days on Market69
Property Features for 518 Forest Ave
General Information
Standard status
Active
Size
3,028 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Avondale - North Avondale
Building Details
Year Built
1890
Listing Agency:
OwnerLand Realty, Inc.
Listed By:
Jimmie Powell
(859) 962-3310
Source:
Finn-team
Added: Aug 17
Changed: Oct 5
Last Checked: Oct 7 at 4:36PM
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 OwnerLand Realty, Inc.
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Investment Insights
Based on property information with market context.
Located at 518 Forest Ave in Cincinnati, Ohio, this 3,028-square-foot duplex has undergone extensive renovation across both units. Improvements include new exterior siding, a new roof and guardrail, luxury vinyl plank flooring, quartz countertops, updated bathrooms with new tile, and a brand-new HVAC system.
The two-unit layout supports an owner-occupant arrangement, with one unit available for residence and the other positioned for rental use. The property is in ZIP Code 45220 and combines refreshed building components with contemporary interior finishes.
The two-unit layout supports an owner-occupant arrangement, with one unit available for residence and the other positioned for rental use. The property is in ZIP Code 45220 and combines refreshed building components with contemporary interior finishes.
Key Highlights
- 3,028‑square‑foot duplex at 518 Forest Ave, Cincinnati, OH 45220
- New exterior siding, roof, and guardrail
- Luxury vinyl plank flooring throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,371
Cap Rate
6.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$507,420
$507.4K
Cap Rate 7%
$362,443
$362.4K
Cap Rate 9%
$281,900
$281.9K
Market Conditions
NOI Build-Up for 3,028 SF
Gross rent
$38.5K $12.72/SF
− Vacancy
−$2.3K −$0.75/SF
EGI
$36.2K $11.97/SF
− OpEx
−$10.9K −$3.59/SF
NOI
$25.4K $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%
$507,420
Cap Rate 7%
$362,443
Cap Rate 9%
$281,900
Alternative Uses
Best Use
Multifamily LT 5
$362.4K
$317.1K – $422.9K
NOI $25,371 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$321.4K
$281.2K – $375.0K
NOI $22,498 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$601.9K
$526.7K – $702.3K
NOI $42,135 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
3,631
Businesses Nearby
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Business Placement
Demographics for 45229, OH
12,540
Population
7,813
Households
1.6
Avg Household Size
37
Median Age
31%
College-Educated
87%
High-School Grad
2.7 sq mi
ZIP Area
4,644
Density / Sq Mi
$30,829
Median Household Income
$25,772
Median Earnings
$831
Median Rent
$316,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with updated interiors, refreshed exterior components, and a new HVAC system.
Where is this duplex located?
The property is located at 518 Forest Ave Cincinnati, OH.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 3,028‑square‑foot duplex at 518 Forest Ave, Cincinnati, OH 45220; New exterior siding, roof, and guardrail; Luxury vinyl plank flooring throughout
