Updated Two-Unit
For Sale
$299,900
6820 Alvina Ave, Cincinnati, OH 45212
Vacant duplex with separate laundry hookups, basement storage, a large backyard, and street parking.
Property Size1,656 SF
Price / SF$181.10
Days on Market26
Property Features for 6820 Alvina Ave
General Information
Standard status
Active
Size
1,656 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR+den/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
laundry hookups
basement storage
large backyard
street parking
Building Details
Buildings
1
Listing Agency:
Sibcy Cline, Inc.
(513) 324-1162
Listed By:
Hannah K Downs
(513) 324-1162
Source:
Exprealty
Added: Aug 7
Changed: Aug 31
Last Checked: Aug 30 at 10:08PM
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.
Located at 6820 Alvina Ave in Cincinnati, this vacant 1,656-square-foot duplex includes two separately configured units with established rental histories. The property can accommodate an owner-occupant arrangement with one residence available for rental, subject to the buyer’s plans.
The first unit contains 1 bedroom, 1 bathroom, an updated kitchen with a gas range, tall ceilings, a dedicated dining room, and a decorative fireplace. The second offers 2 bedrooms, a den, 1 bathroom, a spacious floor plan, and preserved character details. Each unit has its own laundry hookups, while basement storage provides additional utility.
Property updates include a 2024 roof, newer windows, newer HVAC systems serving each unit, and newer water heaters. The duplex also includes a large backyard and ample street parking. Kenwood Towne Centre, major highways, restaurants, breweries, and shopping are located minutes away.
The first unit contains 1 bedroom, 1 bathroom, an updated kitchen with a gas range, tall ceilings, a dedicated dining room, and a decorative fireplace. The second offers 2 bedrooms, a den, 1 bathroom, a spacious floor plan, and preserved character details. Each unit has its own laundry hookups, while basement storage provides additional utility.
Property updates include a 2024 roof, newer windows, newer HVAC systems serving each unit, and newer water heaters. The duplex also includes a large backyard and ample street parking. Kenwood Towne Centre, major highways, restaurants, breweries, and shopping are located minutes away.
Key Highlights
- 1,656‑square‑foot duplex with two separately configured units
- Unit 1: 1 bedroom, 1 bathroom, updated kitchen, gas range, dining room, and decorative fireplace
- Unit 2: 2 bedrooms plus a den, 1 bathroom, spacious layout, and character details
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
$13,875
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
4.63%
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%
$277,500
$277.5K
Cap Rate 7%
$198,214
$198.2K
Cap Rate 9%
$154,167
$154.2K
Market Conditions
NOI Build-Up for 1,656 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
$21.1K $12.72/SF
− Vacancy
−$1.2K −$0.75/SF
EGI
$19.8K $11.97/SF
− OpEx
−$5.9K −$3.59/SF
NOI
$13.9K $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%
$277,500
Cap Rate 7%
$198,214
Cap Rate 9%
$154,167
Alternative Uses
Best Use
Multifamily LT 5
$198.2K
$173.4K – $231.3K
NOI $13,875 @ 7.0% cap · market cap 4.63%
Second Best
Apartment 5plus
$175.8K
$153.8K – $205.1K
NOI $12,304 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$329.2K
$288.0K – $384.1K
NOI $23,043 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
Explore this area
Business Placement
Demographics for 45212, OH
21,885
Population
11,027
Households
2
Avg Household Size
33
Median Age
38%
College-Educated
90%
High-School Grad
3.7 sq mi
ZIP Area
5,915
Density / Sq Mi
$63,698
Median Household Income
$43,413
Median Earnings
$932
Median Rent
$229,400
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 - Vacant duplex with separate laundry hookups, basement storage, a large backyard, and street parking.
Where is this duplex located?
The property is located at 6820 Alvina Ave Cincinnati, OH.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1,656‑square‑foot duplex with two separately configured units; Unit 1: 1 bedroom, 1 bathroom, updated kitchen, gas range, dining room, and decorative fireplace; Unit 2: 2 bedrooms plus a den, 1 bathroom, spacious layout, and character details
