Two-Unit Duplex with Tandem
For Sale
$175,000
549 Church St, Cincinnati, OH 45217
Two residential units feature flexible layouts, an oversized tandem garage, and an unfinished basement.
Property Size2,002 SF
Price / SF$87.41
Days on Market40
Property Features for 549 Church St
General Information
Standard status
Active
Size
2,002 SF
Property subtype
Multi-Family
Building Details
Year Built
1925
Listing Agency:
Plum Tree Realty
(513) 378-4663
Listed By:
Michael J Slafka
Source:
Finn-team
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 25 at 4:34AM
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 Plum Tree Realty
Investment Insights
Based on property information with market context.
Built in 1925, this 2,002-square-foot duplex contains two residential units with distinct configurations. One unit has one bedroom plus a separate room currently used as a second bedroom, while the other includes two bedrooms and a loft. Both units offer generous interior layouts.
The property also includes an oversized tandem garage and a large unfinished basement. Updating and improvements are needed, providing a clear renovation scope for the next owner. Both units are occupied under month-to-month arrangements. The property is located at 549 Church St, St Bernard, OH 45217.
The property also includes an oversized tandem garage and a large unfinished basement. Updating and improvements are needed, providing a clear renovation scope for the next owner. Both units are occupied under month-to-month arrangements. The property is located at 549 Church St, St Bernard, OH 45217.
Key Highlights
- Two‑unit duplex with 2,002 square feet
- One unit has one bedroom plus a second room currently used as a bedroom
- Second unit includes two bedrooms and a loft
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
$14,875
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
8.50%
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%
$297,500
$297.5K
Cap Rate 7%
$212,500
$212.5K
Cap Rate 9%
$165,278
$165.3K
Market Conditions
NOI Build-Up for 2,002 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
$28.6K $14.28/SF
− Vacancy
−$1.5K −$0.77/SF
EGI
$27.0K $13.51/SF
− OpEx
−$12.2K −$6.08/SF
NOI
$14.9K $7.43/SF
Area
Cincinnati, OH
Vacancy
5.40%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
45.00%
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%
$297,500
Cap Rate 7%
$212,500
Cap Rate 9%
$165,278
Alternative Uses
Best Use
Multifamily LT 5
$239.6K
$209.7K – $279.6K
NOI $16,774 @ 7.0% cap · market cap 9.59%
Second Best
Apartment 5plus
$212.5K
$185.9K – $247.9K
NOI $14,875 @ 7.0% cap · market cap 8.50%
Theoretical Best
Office A
$398.0K
$348.2K – $464.3K
NOI $27,858 @ 7.0% cap · market cap 15.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
Explore this area
Business Placement
Demographics for 45217, OH
6,177
Population
2,852
Households
2.2
Avg Household Size
39
Median Age
34%
College-Educated
94%
High-School Grad
2.2 sq mi
ZIP Area
2,808
Density / Sq Mi
$67,974
Median Household Income
$45,789
Median Earnings
$923
Median Rent
$149,200
Median Home Value
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 residential units feature flexible layouts, an oversized tandem garage, and an unfinished basement.
Where is this duplex located?
The property is located at 549 Church St Cincinnati, OH.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,002 square feet; One unit has one bedroom plus a second room currently used as a bedroom; Second unit includes two bedrooms and a loft
