Duplex with Detached
For Sale
$191,900
Pending
84 Hereford St, Cincinnati, OH 45216
Two-unit property with updated systems, flexible bonus space, and separate off-street parking.
Property Size1,853 SF
Days on Market26
Property Features for 84 Hereford St
General Information
Standard status
Pending
Size
1,853 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Listing Agency:
Coldwell Banker College R.E.
(513) 289-8380
Listed By:
Sara Reihs
(513) 289-8380
Source:
Exprealty
Added: Jul 29
Changed: Aug 21
Last Checked: Aug 23 at 5:40AM
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 Coldwell Banker College R.E.
Investment Insights
Based on property information with market context.
This duplex contains two one-bedroom, one-bath units within 1,853 square feet. The upper residence includes an additional bonus room that can serve as office, nursery, hobby, or storage space. Improvements include a newer furnace, hot water heater, replacement windows, and a renovated second-floor bathroom. A detached garage adds storage and off-street parking.
The property is located in Cincinnati near shopping, dining, parks, and major highways. It is being sold AS IS and offers a two-unit configuration with the flexibility to occupy one residence while leasing the other, subject to applicable requirements.
The property is located in Cincinnati near shopping, dining, parks, and major highways. It is being sold AS IS and offers a two-unit configuration with the flexibility to occupy one residence while leasing the other, subject to applicable requirements.
Key Highlights
- Two 1‑bedroom, 1‑bath units
- 1,853 square feet of total property size
- Upper unit includes a bonus room
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
$15,526
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%
$310,520
$310.5K
Cap Rate 7%
$221,800
$221.8K
Cap Rate 9%
$172,511
$172.5K
Market Conditions
NOI Build-Up for 1,853 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
$23.6K $12.72/SF
− Vacancy
−$1.4K −$0.75/SF
EGI
$22.2K $11.97/SF
− OpEx
−$6.7K −$3.59/SF
NOI
$15.5K $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%
$310,520
Cap Rate 7%
$221,800
Cap Rate 9%
$172,511
Alternative Uses
Best Use
Multifamily LT 5
$221.8K
$194.1K – $258.8K
NOI $15,526 @ 7.0% cap · market cap 8.09%
Second Best
Apartment 5plus
$196.7K
$172.1K – $229.5K
NOI $13,768 @ 7.0% cap · market cap 7.17%
Theoretical Best
Office A
$368.4K
$322.3K – $429.8K
NOI $25,785 @ 7.0% cap · market cap 13.44%
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
423
Businesses Nearby
Explore this area
Business Placement
Demographics for 45216, OH
9,667
Population
4,262
Households
2.3
Avg Household Size
37
Median Age
27%
College-Educated
87%
High-School Grad
2.8 sq mi
ZIP Area
3,453
Density / Sq Mi
$51,602
Median Household Income
$40,333
Median Earnings
$815
Median Rent
$138,200
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-unit property with updated systems, flexible bonus space, and separate off-street parking.
Where is this duplex located?
The property is located at 84 Hereford St Cincinnati, OH.
What is the asking price?
The asking price for this property is $191,900.
What are key features of this property?
This property features: Two 1‑bedroom, 1‑bath units; 1,853 square feet of total property size; Upper unit includes a bonus room
