Updated Duplex with Two-Car
New
For Sale
$330,000
5631 Colerain Ave, Cincinnati, OH 45239
Two-family property with refreshed interiors, individual heating and cooling, and a breezeway-connected garage.
Property Size2,202 SF
Price / SF$149.86
Days on Market3
Property Features for 5631 Colerain Ave
General Information
Standard status
Active
Size
2,202 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1951
Listing Agency:
Sibcy Cline, Inc.
Listed By:
Barbara J Fields
(513) 931-7700
Source:
Lovdalgroup
Added: Sep 21
Last Checked: Sep 22 at 8:46PM
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 Sibcy Cline, Inc.
Investment Insights
Based on property information with market context.
This 2,202-square-foot duplex has been maintained and updated with fresh paint, new carpet, and a newer roof. Each unit includes its own furnace and air-conditioning system, while the owner pays the water expense. A separate two-car garage sits across a breezeway from the residential building, providing covered passage between the structures.
The property is near a City Metro bus stop and offers access to major highways. Colerain Avenue provides routes toward shopping, dining, and major arteries to the north, while downtown Cincinnati is approximately 10–20 minutes south for entertainment, sporting events, Fountain Square, and dining.
The property is near a City Metro bus stop and offers access to major highways. Colerain Avenue provides routes toward shopping, dining, and major arteries to the north, while downtown Cincinnati is approximately 10–20 minutes south for entertainment, sporting events, Fountain Square, and dining.
Key Highlights
- 2,202‑square‑foot two‑family property
- Updated with fresh paint, new carpet, and a newer roof
- Each unit has its own furnace and AC
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
$18,450
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
5.59%
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%
$369,000
$369.0K
Cap Rate 7%
$263,571
$263.6K
Cap Rate 9%
$205,000
$205.0K
Market Conditions
NOI Build-Up for 2,202 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
$28.0K $12.72/SF
− Vacancy
−$1.7K −$0.75/SF
EGI
$26.4K $11.97/SF
− OpEx
−$7.9K −$3.59/SF
NOI
$18.4K $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 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%
$369,000
Cap Rate 7%
$263,571
Cap Rate 9%
$205,000
Alternative Uses
Best Use
Multifamily LT 5
$263.6K
$230.6K – $307.5K
NOI $18,450 @ 7.0% cap · market cap 5.59%
Second Best
Apartment 5plus
$233.7K
$204.5K – $272.7K
NOI $16,361 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$437.7K
$383.0K – $510.7K
NOI $30,641 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
438
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
Check the figures for this property
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 - Two-family property with refreshed interiors, individual heating and cooling, and a breezeway-connected garage.
Where is this duplex located?
The property is located at 5631 Colerain Ave Cincinnati, OH.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: 2,202‑square‑foot two‑family property; Updated with fresh paint, new carpet, and a newer roof; Each unit has its own furnace and AC
