Brick Duplex With Rear
For Sale
$350,000
Pending
5547 Kirby Avenue, Cincinnati, OH 45239
Two occupied residences offer open layouts, included appliances, and flexible month-to-month tenancy.
Property Size2,900 SF
Days on Market109
Property Features for 5547 Kirby Avenue
General Information
Standard status
Pending
Size
2,900 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
large rear deck
dedicated utility/laundry room
Building Details
Building Size
2,900 SF
Year Built
2002
Construction
brick
Listing Agency:
Keller Williams Seven Hills Re
(513) 568-7965
Listed By:
William Reed
Source:
Trulyremarkableservice.kw
Added: May 15
Changed: Aug 30
Last Checked: Aug 30 at 1:18PM
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 Seven Hills Re
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each with 3 bedrooms and 2 full bathrooms. Constructed in 2002, the property features open-concept living areas, dedicated utility and laundry rooms, and primary bedrooms with private en-suite baths. Kitchen and laundry appliances are included in both units. A brick exterior and expansive rear deck add durable exterior character and shared outdoor space.
Both units are fully occupied and leased on a month-to-month basis. The property is located at 5547 Kirby Avenue in Cincinnati, Ohio, within ZIP code 45239. Its two-unit configuration, established occupancy, and flexible lease structure support both continued rental use and consideration by an owner-occupant.
Both units are fully occupied and leased on a month-to-month basis. The property is located at 5547 Kirby Avenue in Cincinnati, Ohio, within ZIP code 45239. Its two-unit configuration, established occupancy, and flexible lease structure support both continued rental use and consideration by an owner-occupant.
Key Highlights
- Two 3‑bedroom, 2‑bath units in a single duplex
- Both units are fully occupied
- Month‑to‑month leases provide tenancy flexibility
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
$24,298
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
6.94%
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%
$485,960
$486.0K
Cap Rate 7%
$347,114
$347.1K
Cap Rate 9%
$269,978
$270.0K
Market Conditions
NOI Build-Up for 2,900 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
$36.9K $12.72/SF
− Vacancy
−$2.2K −$0.75/SF
EGI
$34.7K $11.97/SF
− OpEx
−$10.4K −$3.59/SF
NOI
$24.3K $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%
$485,960
Cap Rate 7%
$347,114
Cap Rate 9%
$269,978
Alternative Uses
Best Use
Multifamily LT 5
$347.1K
$303.7K – $405.0K
NOI $24,298 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$307.8K
$269.3K – $359.1K
NOI $21,547 @ 7.0% cap · market cap 6.16%
Theoretical Best
Office A
$576.5K
$504.4K – $672.6K
NOI $40,354 @ 7.0% cap · market cap 11.53%
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
347
Businesses Nearby
Explore this area
Business Placement
Demographics for 45239, OH
28,499
Population
12,985
Households
2.2
Avg Household Size
38
Median Age
26%
College-Educated
93%
High-School Grad
6.3 sq mi
ZIP Area
4,524
Density / Sq Mi
$58,276
Median Household Income
$37,094
Median Earnings
$949
Median Rent
$155,500
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 occupied residences offer open layouts, included appliances, and flexible month-to-month tenancy.
Where is this duplex located?
The property is located at 5547 Kirby Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bath units in a single duplex; Both units are fully occupied; Month‑to‑month leases provide tenancy flexibility
