Four-Unit Quadplex with Off-Street
For Sale
$285,888
1246 Quebec Road, Cincinnati, OH 45205
Residential Income, Cincinnati, OH
Property Size2,269 SF
Lot Size0.24 Acres
Price / SF$125
Days on Market69
Property Features for 1246 Quebec Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Window features
Vinyl Frames
Patio and Porch features
Patio, Porch
Exterior features
Patio, Porch
Fireplace
1
View
City
High school district
Cincinnati City SD
Directions
From I-75, take US-50 W (River Rd) to the Grand Ave exit. Turn right onto Grand Ave, left onto Glenway Ave, and right onto Quebec Rd
Subdivision
Hamilton-W04
Standard status
Active
APN
174-0005-0261-00
Size
2,269 SF
Lot size
0.24 Acres
Utilities
Heating system
Natural Gas
Building Details
Year built
1890
Number of units
4
Building materials
Wood Siding
Roof type
Shingle
Listing Agency:
eXp Realty
(216) 242-2322
Listed By:
Luana King · License #2024005617
(866) 212-4991
Added: Jun 21
Changed: Aug 20
Last Checked: Aug 28 at 7:06PM
MLS# 1883807
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 Cincinnati quadplex contains four one-bedroom apartments within a 2,269-square-foot residential income property. The units feature large rooms and practical layouts, while the building includes a patio, porch, wood siding, shingle roofing, natural-gas heat, and a fireplace. The property was built in 1890 and occupies a prominent corner lot with dedicated off-street parking for tenants.
Recent capital improvements include water heaters and furnaces installed in 2024, along with a new gas line added in 2025. Most tenants are long-term occupants. Utility responsibilities are divided between the parties, with tenants paying gas and electric while ownership covers water and sewer. The property is located minutes from I-75 and approximately 15 minutes from downtown Cincinnati.
Recent capital improvements include water heaters and furnaces installed in 2024, along with a new gas line added in 2025. Most tenants are long-term occupants. Utility responsibilities are divided between the parties, with tenants paying gas and electric while ownership covers water and sewer. The property is located minutes from I-75 and approximately 15 minutes from downtown Cincinnati.
Key Highlights
- Four one‑bedroom units in a 2,269‑square‑foot quadplex
- 0.243‑acre corner lot with dedicated off‑street tenant parking
- Water heaters and furnaces installed in 2024
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
$19,011
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
6.65%
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%
$380,220
$380.2K
Cap Rate 7%
$271,586
$271.6K
Cap Rate 9%
$211,233
$211.2K
Market Conditions
NOI Build-Up for 2,269 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
$28.9K $12.72/SF
− Vacancy
−$1.7K −$0.75/SF
EGI
$27.2K $11.97/SF
− OpEx
−$8.1K −$3.59/SF
NOI
$19.0K $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%
$380,220
Cap Rate 7%
$271,586
Cap Rate 9%
$211,233
Alternative Uses
Best Use
Multifamily LT 5
$271.6K
$237.6K – $316.9K
NOI $19,011 @ 7.0% cap · market cap 6.65%
Second Best
Apartment 5plus
$240.8K
$210.7K – $281.0K
NOI $16,858 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$451.0K
$394.7K – $526.2K
NOI $31,573 @ 7.0% cap · market cap 11.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
419
Businesses Nearby
Explore this area
Business Placement
Demographics for 45205, OH
19,517
Population
7,874
Households
2.5
Avg Household Size
31
Median Age
17%
College-Educated
82%
High-School Grad
2.8 sq mi
ZIP Area
6,970
Density / Sq Mi
$41,357
Median Household Income
$32,537
Median Earnings
$855
Median Rent
$112,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom units with updated mechanical systems, tenant parking, and separate gas and electric utility billing.
Where is this quadplex located?
The property is located at 1246 Quebec Road Cincinnati, OH.
What is the asking price?
The asking price for this property is $285,888.
What are key features of this property?
This property features: Four one‑bedroom units in a 2,269‑square‑foot quadplex; 0.243‑acre corner lot with dedicated off‑street tenant parking; Water heaters and furnaces installed in 2024
