Two-Unit Duplex with
For Sale
$199,999
Pending
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
Days on Market83
Property Features for 549 Prospect Pl
General Information
Standard status
Pending
Size
2,016 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
a little TLC
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Listing Agency:
Keller Williams Advisors
(513) 404-1426
Listed By:
Zondra D Brown
(513) 404-1426
Source:
Exprealty
Added: Jun 8
Changed: Aug 20
Last Checked: Aug 29 at 11:03AM
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 = 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
$16,891
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
8.45%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
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 - 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
