Two-Unit Duplex with Attached
For Sale
$214,900
708 E Ross Ave, Cincinnati, OH 45217
Two residential units include an equipped eat-in kitchen and attached garage.
Property Size2,074 SF
Price / SF$103.62
Days on Market36
Property Features for 708 E Ross Ave
General Information
Standard status
Active
Size
2,074 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
work needed in the kitchen
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Amenities
fenced rear yard
walkout basement
Building Details
Year Built
1929
Listing Agency:
Sibcy Cline, Inc.
(513) 662-8800
Listed By:
Kurt J Lamping
Source:
Lovdalgroup
Added: Jul 27
Changed: Aug 30
Last Checked: Aug 30 at 8:37PM
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.
Built in 1929, this 2,074-square-foot duplex contains two residential units with distinct layouts. The first-floor residence offers two bedrooms and an equipped eat-in kitchen. Upstairs, the one-bedroom unit includes a kitchen that requires work. A newer furnace, air system, and hot water heater serve the property. The building also includes a two-car attached garage, walkout basement, and fenced rear yard.
Located at 708 E Ross Ave in St Bernard, the property is available for immediate occupancy. The first-floor unit was occupied until recently. The property has also been used as a single-family residence, providing an alternative configuration for an owner-user or household seeking one home rather than two separate units.
Located at 708 E Ross Ave in St Bernard, the property is available for immediate occupancy. The first-floor unit was occupied until recently. The property has also been used as a single-family residence, providing an alternative configuration for an owner-user or household seeking one home rather than two separate units.
Key Highlights
- 2,074‑square‑foot duplex built in 1929
- Two units: a two‑bedroom first‑floor residence and one‑bedroom second‑floor unit
- Two‑car attached garage, walkout basement, and fenced rear yard
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
$17,377
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
8.09%
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%
$347,540
$347.5K
Cap Rate 7%
$248,243
$248.2K
Cap Rate 9%
$193,078
$193.1K
Market Conditions
NOI Build-Up for 2,074 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
$26.4K $12.72/SF
− Vacancy
−$1.6K −$0.75/SF
EGI
$24.8K $11.97/SF
− OpEx
−$7.4K −$3.59/SF
NOI
$17.4K $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%
$347,540
Cap Rate 7%
$248,243
Cap Rate 9%
$193,078
Alternative Uses
Best Use
Multifamily LT 5
$248.2K
$217.2K – $289.6K
NOI $17,377 @ 7.0% cap · market cap 8.09%
Second Best
Apartment 5plus
$220.1K
$192.6K – $256.8K
NOI $15,410 @ 7.0% cap · market cap 7.17%
Theoretical Best
Office A
$412.3K
$360.8K – $481.0K
NOI $28,860 @ 7.0% cap · market cap 13.43%
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
396
Businesses Nearby
Explore this area
Business Placement
Demographics for 45217, OH
6,177
Population
2,852
Households
2.2
Avg Household Size
39
Median Age
34%
College-Educated
94%
High-School Grad
2.2 sq mi
ZIP Area
2,808
Density / Sq Mi
$67,974
Median Household Income
$45,789
Median Earnings
$923
Median Rent
$149,200
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 residential units include an equipped eat-in kitchen and attached garage.
Where is this duplex located?
The property is located at 708 E Ross Ave Cincinnati, OH.
What is the asking price?
The asking price for this property is $214,900.
What are key features of this property?
This property features: 2,074‑square‑foot duplex built in 1929; Two units: a two‑bedroom first‑floor residence and one‑bedroom second‑floor unit; Two‑car attached garage, walkout basement, and fenced rear yard
