Two-Unit Duplex with
For Sale
$199,999
549 Prospect Pl, Cincinnati, OH 45229
Residential income property with a three-bedroom unit, a one-bedroom unit, and an occupied side.
Property Size2,016 SF
Price / SF$99.21
Days on Market57
Property Features for 549 Prospect Pl
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
a little TLC
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1923
Listing Agency:
Keller Williams Advisors
Listed By:
Zondra D Brown
(513) 766-9200
Source:
Finn-team
Added: Aug 19
Changed: Oct 6
Last Checked: Oct 7 at 3:45PM
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
Investment Insights
Based on property information with market context.
The duplex at 549 Prospect Pl includes 2,016 square feet divided between two residences. One side contains three bedrooms and one full bathroom, while the other provides one bedroom and one full bathroom. The smaller unit is tenant occupied. Parking is available both on the property and along the street.
The property is within 4 miles of two local universities, shopping, dining, and commuter routes. It is offered AS IS, WHERE IS, with cash or conventional financing specified as the available purchase terms.
The property is within 4 miles of two local universities, shopping, dining, and commuter routes. It is offered AS IS, WHERE IS, with cash or conventional financing specified as the available purchase terms.
Key Highlights
- 2,016‑square‑foot duplex with two separate residential units
- Unit mix includes 3 bedrooms and 1 full bath on one side
- Second unit offers 1 bedroom and 1 full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,891
Cap Rate
8.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$337,820
$337.8K
Cap Rate 7%
$241,300
$241.3K
Cap Rate 9%
$187,678
$187.7K
Market Conditions
NOI Build-Up for 2,016 SF
Gross rent
$25.6K $12.72/SF
− Vacancy
−$1.5K −$0.75/SF
EGI
$24.1K $11.97/SF
− OpEx
−$7.2K −$3.59/SF
NOI
$16.9K $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%
$337,820
Cap Rate 7%
$241,300
Cap Rate 9%
$187,678
Alternative Uses
Best Use
Multifamily LT 5
$241.3K
$211.1K – $281.5K
NOI $16,891 @ 7.0% cap · market cap 8.45%
Second Best
Apartment 5plus
$214.0K
$187.2K – $249.7K
NOI $14,979 @ 7.0% cap · market cap 7.49%
Theoretical Best
Office A
$400.8K
$350.7K – $467.6K
NOI $28,053 @ 7.0% cap · market cap 14.03%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,174
Businesses Nearby
Explore this area
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
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Residential income property with a three-bedroom unit, a one-bedroom unit, and an occupied side.
Where is this duplex located?
The property is located at 549 Prospect Pl Cincinnati, OH.
What is the asking price?
The asking price for this property is $199,999.
What are key features of this property?
This property features: 2,016‑square‑foot duplex with two separate residential units; Unit mix includes 3 bedrooms and 1 full bath on one side; Second unit offers 1 bedroom and 1 full bath
