Duplex with Finished Third
For Sale
$280,000
Pending
6101 Contreras Rd, Oxford, OH 45056
Two separate units offer hardwood floors, high ceilings, and distinct interior layouts.
Property Size1,888 SF
Lot Size0.22 Acres
Days on Market99
Property Features for 6101 Contreras Rd
General Information
Standard status
Pending
Size
1,888 SF
Lot size
0.22 Acres
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Amenities
covered front porch
Building Details
Year Built
1930
Buildings
1
Listing Agency:
eXp Realty
(419) 788-7546
Listed By:
Ross Tonyan
(419) 788-7546
Source:
Exprealty
Added: May 15
Changed: Aug 20
Last Checked: Aug 20 at 10:05AM
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 eXp Realty
Investment Insights
Based on property information with market context.
Built in 1930, this 1,888-square-foot duplex contains two 2-bedroom units with hardwood floors and high ceilings. The first unit follows a traditional floor plan, while the second includes a finished third floor that expands its living area. A covered front porch adds outdoor space, and the property has a driveway along with on-street parking.
The residence is within a short walk of uptown Oxford and Miami University. Its current duplex configuration supports rental use, while the layout also offers the potential to convert the property back to a single-family residence. The lot encompasses 0.2168 acres.
The residence is within a short walk of uptown Oxford and Miami University. Its current duplex configuration supports rental use, while the layout also offers the potential to convert the property back to a single-family residence. The lot encompasses 0.2168 acres.
Key Highlights
- 1,888‑square‑foot duplex with two 2‑bedroom units
- Unit 2 includes a finished third floor
- Hardwood floors and high ceilings in both units
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
$18,413
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
6.58%
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%
$368,260
$368.3K
Cap Rate 7%
$263,043
$263.0K
Cap Rate 9%
$204,589
$204.6K
Market Conditions
NOI Build-Up for 1,888 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
$28.3K $15.00/SF
− Vacancy
−$2.0K −$1.07/SF
EGI
$26.3K $13.93/SF
− OpEx
−$7.9K −$4.18/SF
NOI
$18.4K $9.75/SF
Area
Butler County, OH
Vacancy
7.12%
Lease Rate
$15.00 /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%
$368,260
Cap Rate 7%
$263,043
Cap Rate 9%
$204,589
Alternative Uses
Best Use
Multifamily LT 5
$263.0K
$230.2K – $306.9K
NOI $18,413 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$242.1K
$211.8K – $282.4K
NOI $16,944 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$373.3K
$326.6K – $435.5K
NOI $26,131 @ 7.0% cap · market cap 9.33%
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
479
Businesses Nearby
Explore this area
Business Placement
Demographics for 45056, OH
28,892
Population
9,702
Households
3
Avg Household Size
25
Median Age
54%
College-Educated
97%
High-School Grad
74.7 sq mi
ZIP Area
387
Density / Sq Mi
$53,413
Median Household Income
$9,944
Median Earnings
$1,004
Median Rent
$247,700
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 separate units offer hardwood floors, high ceilings, and distinct interior layouts.
Where is this duplex located?
The property is located at 6101 Contreras Rd Oxford, OH.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: 1,888‑square‑foot duplex with two 2‑bedroom units; Unit 2 includes a finished third floor; Hardwood floors and high ceilings in both units
