Duplex with 3-Car
For Sale
$140,000
645 Blanche Ave., Cincinnati, OH 45215
Residential Income, Cincinnati, OH
Property Size1,710 SF
Lot Size0.14 Acres
Price / SF$81.87
Days on Market157
Property Features for 645 Blanche Ave.
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street, Driveway, Garage
Patio and Porch features
Porch
Exterior features
Porch, Enclosed Porch
High school district
Lockland City SD
Directions
Reading Rd. to Clark Rd., turns into Mill Street across the bridge, turn left onto Blanche.
Subdivision
Hamilton-E03
Standard status
Active
APN
601-0002022800
Size
1,710 SF
Lot size
0.14 Acres
Utilities
Heating system
Forced Air, Natural Gas
Amenities
separate utilities
individual washer and dryer hookups
full basement
enclosed porch
large fenced-in yard
Building Details
Year built
1930
Number of units
2
Building materials
Aluminum Siding, Brick
Roof type
Shingle
Listing Agency:
3 B Realty Group LLC
(513) 278-7545
Listed By:
Coleen Garrett
(513) 325-4036
Added: Mar 23
Changed: Aug 20
Last Checked: Aug 26 at 6:06PM
MLS# 1872558
Copyright © 2026 MLS of Greater Cincinnati, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,710-square-foot duplex, built in 1930, contains two distinct units with a one-bedroom, one-bath layout and a two-bedroom, one-bath layout. Both residences include spacious rooms, individual washer and dryer hookups, and access to a full basement. The larger unit also has an enclosed porch that adds flexible interior space.
The property includes a 3-car garage, driveway parking, on-street parking, and a fenced yard on a 0.138-acre lot. Separate utilities serve the units, while a shared water heater supports the building. Aluminum siding, brick construction materials, a shingle roof, and forced-air natural gas heating complete the existing improvements.
The property includes a 3-car garage, driveway parking, on-street parking, and a fenced yard on a 0.138-acre lot. Separate utilities serve the units, while a shared water heater supports the building. Aluminum siding, brick construction materials, a shingle roof, and forced-air natural gas heating complete the existing improvements.
Key Highlights
- Two‑unit property with 1‑bedroom and 2‑bedroom layouts
- 1,710 Square Feet building on a 0.138‑acre lot
- Separate utilities and individual washer and dryer hookups
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
$12,705
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
9.08%
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%
$254,100
$254.1K
Cap Rate 7%
$181,500
$181.5K
Cap Rate 9%
$141,167
$141.2K
Market Conditions
NOI Build-Up for 1,710 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
$24.4K $14.28/SF
− Vacancy
−$1.3K −$0.77/SF
EGI
$23.1K $13.51/SF
− OpEx
−$10.4K −$6.08/SF
NOI
$12.7K $7.43/SF
Area
ZIP 45215
Vacancy
5.40%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
45.00%
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%
$254,100
Cap Rate 7%
$181,500
Cap Rate 9%
$141,167
Alternative Uses
Best Use
Multifamily LT 5
$204.7K
$179.1K – $238.8K
NOI $14,328 @ 7.0% cap · market cap 10.23%
Second Best
Apartment 5plus
$181.5K
$158.8K – $211.8K
NOI $12,705 @ 7.0% cap · market cap 9.08%
Theoretical Best
Office A
$369.9K
$323.7K – $431.6K
NOI $25,893 @ 7.0% cap · market cap 18.50%
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
677
Businesses Nearby
Explore this area
Business Placement
Demographics for 45215, OH
30,993
Population
13,735
Households
2.3
Avg Household Size
38
Median Age
35%
College-Educated
92%
High-School Grad
12.0 sq mi
ZIP Area
2,583
Density / Sq Mi
$71,949
Median Household Income
$45,976
Median Earnings
$954
Median Rent
$200,100
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 - Separate utilities and laundry hookups serve both residential units.
Where is this duplex located?
The property is located at 645 Blanche Ave. Cincinnati, OH.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: Two‑unit property with 1‑bedroom and 2‑bedroom layouts; 1,710 Square Feet building on a 0.138‑acre lot; Separate utilities and individual washer and dryer hookups
